Morning herald. [volume] (New York [N.Y.]) 1837-1840, 1840-02-12
stocks as collateral security The following table the

7e2o7 3,3so,sss 2,5S4,i2s
The aggregate loans Of these banks S2 55s7 of which
SIS security of stocks making the whole amount OF
loans stocks upwards of On this property there
at the lowest estimate depreciation of 20 per cent? which IN
loss p''0o0,'''
The banks are otherwise in as good condition
ably be expected after such terrible depreciation as property
of all kinds has undergone during the past we Will to-
day anayAe the statements OF the different
banks and show their true position at this moment
While upon this subject will mention the miserable hum
bug put upon the community by the new banks in the
shape II is impossible by the statements put FORTH
to arrive correct estimate OF the true condition oil The
banks under law The amounts Of circulation, dis
counts specie and depostes constituting the banking
men the only items given with sufficient cleaness At
this when the two systems running for pub
lie favor and capitalists undecided which will the
best is of the utmost importance to those institutions under
the law that started correct principles to put their
affairs clearly before the public that all may understand
them and capitalists MAJ be able to form opinion of the
safety of the investment The New York Banking Company
the only institution that has yet done this. We publish
ed the with the the 2sth of January last
That institution made loans upon stocks Its whole bust
consisted in the employment of the cash capital paid
and the dposte the discount of short strictly business
per- the legal rate of discount This yielded dividend of
per cent which paid in October last Such statement
at acquires the confidence of the public. Men of ca
pita understand it, and invest their funds in it, becomes
popular with regular merchants speculation has pr
lot in it. and all good business paper greedy taken The
statement not required by the law but seemingly put
forth in order that capitalists might compare the old
banks and choose between the systems If the other
tuons under the law follow the course
will be much advanced We do appeal amendment of
the law to enforce it, because convinced
of trade interest should be the guide not the law
Those who do understand their interests who wish
appear be that which they give place to those
that do and who stand on their merits
In sterling exchange there very little doing and the rate
is advancing it may be quoted at per cent 81
the sterling There is little disposition ship specie
at these rates
The Wellington, for London has .......... $4,000
The Charles Carroll for Havre, ........... IlO0
Total, .................... S54I00
There yet further action in the Pennsy Legisa
ture the subject of the resumption bill The United States
Bank appears has been pedng the loan follows
Pennsylvania Bank, 100000 Manufacturers' and
Grarl Bank, 100000 Mechanics Bank, $4,000
philadelphia Bank, >. 100000 -
farmers Mech's bank $4,000 S455Ooo
Commercial Bank, 80. $4,000 Of the U. s. States
North American Bank, $4,000 the of $4,000
Southwark Bank. 10000 -
Total, NEUTRALITY-SUSPICIOUS.. $4,000
By the report of the Committee of Finance the Michigan
Legislature appears that the indebtedness Of Mch-
amounts to
10 which she has the the s5,Ooqooo
loan, due April !, NEUTRALITY-SUSPICIOUS.. 26s,7so
Do. do. LIST July. .............. l22, 900 ss $50
Short, ACKNOWLEDGEMENTS. $50. siO5asi
The expenses Of THE Government for 1870 are esti
| maedat .'..'.....'......... 1872 ,ei6
The receipts from taxes, &c ............. 1850
| surplus. ....''..'.'. ............. S5,iai