Morning herald. [volume] (New York [N.Y.]) 1837-1840, 1840-11-10

ere made 1. old stocks for actual mvsst.sst and waeh
probably Do not amount per months business
The loan Of million and half Of the stock h.s
been deposited BY banks Of Albany with the Presd nj
q the Merchants Bank in this city, and will be sold
sounts suit the convenience Of those who may which
10 invest.
On the 4th Of September last aer remarking upon
almost irretrevable Of insolvency in which the
southern and south western banks plunged and the
apparent hopeessness Of any return better Of
things without r6cng the property of innocent
viduals which the spec held within their grasp
we took occasion to point out by which banks
might apply their idle capital in releasing the
crops the SOUTH the bonds Of bankruptcy and
the real wealth of the country to its usefulness In illus
ration of view gave the operation Of eminent
capitalist Of this country with Mississippi bank fol-
lows After stating the condition Of the bank we pro-
eeeded-
The appointment OF Board of Commissioners to as.
certain and report the precise condition OF the bank
made TWAS asccrtaned that the principal Indebtedness
the institution consisted of its circulating bills and
tfcaes outstanding, to the OF not 100000
The first thing to be done was get in this circulation
To do 50, Mr.. Delafed agreed advance the
exceeding SIZE 900 in cash and aeceptanees On the
doas that there should him securities
at least to the of ssoooo the value Of which
should be investigated BY legal gentlemen appointed by
y the redemption Of the outstanding bills which, when
30 redeemed to be held by Mr.. Dea6eld additional
security Sens Aa s7os for soo
The bank to ship an amount to the
cepdons Mr. pssssd CASH and
which accepances for the convenience of the bank in
its ss p g. the ssa %
ent and made receivable by the bank for
Of tina Kinds County Bills they from 40
mediately The effect was to free the bank from its
barrassment the planters recovering their business
gies, the crop comes forward unembarrassed.
This operation has since worked we'll. In the
time the house, Bonafs, Boisgcrard s Co., to whom the
bank ship cotton to reimburse the
ing through agent examined into the affairs Of the in
tuon and being satisfied of its complete sovency pro-
posed to undertake its management. The object OF the
being only close its Affairs with little
possible to the public and Others made the 10th
Sept the whole affairs Of the institution to that firm spx
lang first for the fthe billhoders according
the contract with the New York house. and all other
dtors of the bank in turn The Havre house taking
possession found that there had been redeemed the
oslaon from 20 to $50 900 at nearly par for the New York
aeceptances but that the general affairs of the
had been mismanaged In making this change, it
oessary to suspend the operations for few days This
called forth from DR.. Hsgar Of the vieksburg Sentinel
the following Characteristic article after very
temperate language.
SUSPENDED 40 Ais-The Kinds county Deaaeld fraud no
longer redeems its notes, by checks old Deae
in New York, payable in II months waving acceptanos
a the rate of so cents on the dollar This is the way this
fraudulent concern relieves planters which it has
been impudently pulled in the New York Herald.
The operation of the Bank is purely Of liquidation
10 the best adv for all parties The first stoppage
bank owing to being surrounded by the
cy 9th aud for Of its part These
violent and gross attacks single operations which are
evidently understood lock like reckless de-
sructive spirit than steady operation to evil system
the Doctor cannot keep cool he should swallow strong
dose Of his pills. and take charge OF the vcksbg
Water Works.
The following s o statement Of the affairs ofthe Bank Of
Keatucky the 2sth October compared with eondi
tiop Dec 81. 1899 -