Morning herald. [volume] (New York [N.Y.]) 1837-1840, 1840-02-28
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MONEY MARKET.
Thursday, Feb. a7--e p. M.

T, ha, been very duh day in Wall street Stocks have
generally declined. North American Trust aud Banking Co.
declined per cent recovered little and closed al fall OF
n from the close ofyessrday Mohawk declined cent
Harlem ". States Bank Delaware and Hudson J. There
Treasury offered at There sales
of Manhattan stock 81 offered and 80 was asked The
committee OF investigation have proceeded to business with
James O. King chairman and Mr. Ednonds cashier OF the
Mechanics Bank secretary Much is expected from this
committee. They sitting not only to satisfy the stock
holders property safe and the public the
but on the result Of their operations the
character of the city The eyes of every upright and honor
bic merchant anxouy fixed Them to vndeate the
honor the city from Of the fouest blo that has ever
been it, The property involved IN recent
tons Il in great owned BY people foreign land
who have ted their property in good th and with full
confidence in the integrity Of those appointed through their su
fragcs, to manage it, % -" '''
The capital of the Manhattan ank 900 or this $780,
property orphans school nthe District
Of Columbia This property was left by lady OF Mary land
whose sistes were living in England to them jointly
the become possessed the whole until herdeah
when to the children One Of the sisters
ried Mr. Thompson, living Brightou England and who
enjoys the during his life The property will then
the children of the other sister, Mrs Deianny whose
children school in Alexandria The Duke OF Leeds
trustee for this property and Mr. Robert White formerly held
the proxies Of which he controlled the and
managed the bank More recently the proxies have through
the interest OF Barring Co.. been transferred to James King
their agent this city, with view to strengthen his puence
fuhsance Of their designs Thus far Mr. King has
fallen in with Mr.. Whites views, rice rersa, The
property Of these dsfencees orphans has thus been made
instrumental in the ACKNOWLEDGMENT Of family clique,
who have orded ever the merchants Of this city with
an iron sway The rights Of Stockholders, the good
Of the public, and the honor Of the city, have all been
made suserven the pride Of who, Tar from
having any claim the mercantile community among
The first 70 90 cap in hand to Washington beg for the depos
ties frheranee of the distinctive Of the admins
traon When Campbell White brother cf the cashier Of
the Manhattan was yhng washington to obtain ashare OF
the dsposs, Mr. Calhoun told him that the would be
the bsnk by causing imitation and subsequent
The welfare of the bank however mol The object
Of the clique The msans wherei TO grind the merchants
their nemoumen what they aimed at In this they
have succeeded The merchants have paid them their yer
until they have undermined the value of the securities they
have given them These then turned the bank and
the wronscd orphans mustbear the loss. oi-- 20
Mr. James Norman the head Of Of the frs, mercantile
house, America his partner sdreeOr the Bask fame
rica and he was pressed To accept the Psdenhip of e
BANK Of Commerce. but declined This house has stood snsa
through all times and seasons with oh,arnished reua
ton s the head body OF mctchsns who. when the
bank. unable iopsy debts the applause Of the
world by the hefsn with which they sacrificed
their property and promptly discharged their debts On Mr.
Boorman them hang thebogrs Of the community that the foul
Mo- east on city win be seaschfgy and unspariaey
d and the foul deeds or he grssphg shybcks dragged to
the limit M~ isk his hitherto unarHed
reputation and in the vale life burthep his soul with abettng
the wrong. done acrTes children aud widows, by those
who have years been edDg the hearts blood OF the pub
hc repea honor OF the city depend, Mr. BOor-
mans conduct. '."'' u ...
The spring about opening. and trade will soon NOV
inv With tn of besnes the struggle between
the reJecmabc and emable banks wall gather strength
From The tine ihe PHI hs banks faled up to the present
time trade has been sas The stenon Of all classes
been directed the collection Of debts rather than TO
the creation OF pew tn, movement Of the creditor
banks aud cities has csn passive AT the time the fhiade
~ banks failed they were Largely Ddeed to New York and
The THIS Eiyen for their stoFaEe IL Y
now cnr oos argr portion Of that debt HAS been paid
by submission the part Of the creditors TO loss Of 10
rrcdftnre bust
.. again with those who have dsfrshdcd te7 The
.v,r 70 this question contained in he following letter adj
srs.a 10 e Philadelphia banks, months by The
houses in Boston epgagedn that trad" |
J ss pd,nts aSd Directors Of tie Banks Phsiadeiha.
fvx es the sale Aneri
can vses ana others therein bes leave
10 Won the which
ef te ssperstnof see. eymests bth banks
p,.1 ssaleh,s r~ff ~ d
H. time of the suspension the tenth day OF October
bid contracts arising out Of the sale OF manufactures
10 individuals Of your city large amount able at diff