Morning herald. [volume] (New York [N.Y.]) 1837-1840, 1840-09-25


The stock market was again heavy this morning, an
prices gave way, particularly in the U. Bank. Thl
demand for cash stock from the shorts has sustained
price since the arrival of the last foreign The sup
ply to-day greater than the demand AMI decline of
per cent in cash stock place the close of yes
erdsy. North American Trust and Banking declined
percent; Harlem per cent; stongton per cent Sales
of Bills on Philadelphia made at 81 81 discount:
decline from yesterday.
The New Orleans Times intimates that we were, de-
ceiyed in the statement made in reference to the ar
rangement between the Kinds County Bank and J. Della
field Esq The Times is itself greatly error and must
have read article very careessy. The Kinds County
planters sustained great loss prior to 1885, through the
agency Of the L. s. Bank, which the the ar
rangement entered into by them in 1885, with Bonafee
Bosgerard Co.. of Hayre and Delafed, of this city,
That the transactions of that year profitable to the
planters is sufficiently evident from the fact that the same
agreement renewed in 1882 after the operations of
were entirely closed. The idea conceived by the
Times, that Mr. Deaed is depending upon the sale of
land meet the accepances is eti ely erroneous and
refer article Of Sept for a correct statement
of the transaction The Times having assumed false pre-
misses all its deductions The operations
with the Kinds County Bank have been objected to as
system Of ancing cotton This idea is incorrect
Incorporation is an advance Of cash and acceptances
real estate the property OF the bank in order enabe
to get in its deprecated circulating bllsthis without
in way interfering with the cotton except that the
proceeds of sales whatever they may be- guaranteed
to meet the accepances This in way allied the
system of advancing irredeemabe paper cotton with
out regard to price
In looking back at the progress this country for the
last five years cannot but be struck with the immense
influence which banks and bank management have had
IN creating fictitious property, which chiefly
IN the form oil from the reope the banks
Prior 10 1885 the movements of the banks being controlled
by the United States Ban had far many years pursued
steady course which gave but little FOR imitation or
contraction consequently the revulsons which were at
times recurring were not serious than that few
months served to restore confidence About the year 1895
the nited States Bank approaching its dissolution
tiona institution necessarily changed its of con-
duct and lost It's control over the local the same
time theFedsra the midst of an experiment
the object of which they did clearly understand and
in gard to the practical effects and operation of which
they were totally at loss encouraged the disposition to
create new small banks, being apprehensve that such
proceeding was necessary to fill the vacancy created
the then expected dissolution of the United States Bank
This movement connected with others part of the
bank interest started those immense banking operations
which were the basis Of the immense specua.ions of
= The following is table of the loans Of the banks in
each section OF the United States at different periods
BANKS OF THE UNITED STATES DIVIDED ISre SECTIONS