Morning herald. [volume] (New York [N.Y.]) 1837-1840, 1840-11-04
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MONEY MARKET.
Tuesslav Nnve z

Tuesuay. November 3..-O II. n.
At the Stock board this morning great disposition to
realise manifest the part Of the bubble
and stock universally declined Stonington in which
desperate game has been played for time dropped
per cent yesterday, the steamer for England
waso the second board rallied to AZ rise OF per
cen. from the morning The board opened at that price
this morning, but the eagerness OF sellers knocked the
price down to Al in few minutes This per cent less
than the close at the morning board yesterday Long Is
land declined per cent North American Trust and
Banking Co. per cent; United States Bank per cent?
Vicksburg tper cent; Delaware and Hudson per cent
Canton per cent Harlem per cent Sales of bills
Philadelphia made at 3. discount; Baltimore IL
II; on New Orleans % per cent. Sales of Illinois six
per cents at 70; Indiana bonds 70, 1000, 76,
Western and south " esern funds heavy, AMI the
prices show DOWN. tendency; Indiana script IS
quoted at o. SIS at 49, Illinois IS TO- Kentucky 80
By reference to the adv eremen OF ~ sistare l3Wal
street ia another column, will be Mississippi is
demand. The follow ing of the current rates
Mississippi Union Bank notes 40 the dollar Agr
cultural 80 dis Planters Bank 80 dis; Commercial
Bank, Rodney IS dis Arkansas Bank notes dis
Real Estate Bank 25 dis.
The following paragraph has beer going the rounds of
the newspapers;-
TgxAs TRApE.-We learn from the copy Of letter
which has just been furnished that by the laws Of
Texas the ola vessel cannot be attached for freight
until the expiration of 30 days after arrival and that
bill of lading is binding, unless bears the signature Of
both master ani shipper Both Of these regulations must
not known by captains of vessels arriving any the
ports ofth country As they compelled lie port
to destruction BY worms deliver their laing
risk of receiving remuneration for their labor
should they rase to do either and return whence they
holding the cargo subject to their claim for freight;
it frequently occurs that the value OF the articles when
they are shipped is not equal 10 more than half tae
penso of transp ortston
In justice Texas and for the information Of commer'
cia dealing there, this shoull be conraicted In
the first place Teras has pqsy rV regulating the
subjects the contrary, the courts governed in
tiers of this nature BY the law Of England Ia the
second place. there hen the cargo until the whole
amount Of the freight paid Thirdly vestel has
under existing laws need lie detained dag after
her arrival in port before dchargng her cargo Fourth
IT, bull OF ladg binding signed by either the
or mate Of vessel in which the goods are shipped and
Ge 81 ,nature ~ the shipper is required.
On the receipt of the last from Europe, we ex.
pressed the opinion that demand for bullion
be felt in consequence of the absorption for the military
preparations and chests Of Europe The pressn advees
show that the demand create has already created great
uneasiness in the Bank paor The price gold in Paris
and in Hamburg has mach increased and continues to do
~ In the fore part OF September gold ola per
lower at Hamburg than in London On the eth of October
goi was l53 per cent dcarer in Hamburg than in London
being rise Of 100 per cent AT Paris the LIST of Sep
TENDER gold O6o per dsarer than in London On
the 9Th October 1t 0s5 per deare than London
Silver hal experienced nearly equal rise grew
tiaued drain from England. The scarcity of the metals
also much enhanced by the disposition hoard,
which the serious state of POLITICAL Affairs had created
The bank Of England is but lily able meet the demand
which promise. to be serious. Whether hostes take
place not, the effect upon the money market must
b. .he same All the powers of Europe have Incurred the
same expenses, rs II actually declared rumor
nLonion that the export of
the Of discounts would be- raised TO per cent the
weekly meeting Of the Bank plrlour the sh. The d
rctor however remained very short time in delibers-
ton short indeed that II not supposed the question
had been discussed. The general opinion that
the directors will be able TO exercise better control
the Money Market by raising the present
As the rates Of discount in Lombard street equal
per the directors would have right tn deal tightly
VITA paper whlc they negotiate per cent than
the brokers' price, WHILE they had equalIed the
with those out Of doors the public would have naturally
expected that they would receive liberal accommodation
quite uners. God that the Bank parlour pur.
stringent OF policy, and that they have
sion be strict in their discount operations because there
were certain capitalists whose correspondents
tnent had been sending their large supplies Of bsIrawn
London which had been presented for discount. and
bullion bought for expectation with the proceeds. II
was not to be expected thst they will allow the bullion to
b. extracted from them In that way and not take
stop the drain drain OF bullion for political
purposes be feared than commercial drain, be-
price does not into the consideration. 1.-THE
price is 10 per cent the dcmsni is the sane Ademand
for goi alone quantity Of money in the London
Market Silver mostly IN priv ate han ls and its search
~ otherwise does affect the movement othe Banks.
In France the is the gold Is commodity AMI
silver the standard The present demand which exists in
The north Of Europe v for both goll and silver The
amounts reaching - 10000 which arrived nEngland
from south America after the Is, Of September, had all
been taken by two or three operator orthe Russian Mar
kc the transactions yielding per This state ofaf
fairs calculated to cause stimuli. tous scarcity Of
ncy both in France and England enhance the port
from this side Of the precious metal
The rate Of hills on London to-day ia 81 Q per cent.
whichisA per cent under par, ana yet the Lon Ion
pscke, to-day has s5o 900 in srccie. This export IL a
parenty loss Of per cent; but nominal rate Of
exchange is not always guide the value Of specie
remittance. Il is sometimes desirable 10 make remit.
tanccs rapidly and promPtlybeer TO submit, to small
present then any risk Of bad bills or DELAY
pciay when difficulties in the discount market are TO
b. spprohended.
The general state Of foreign ors is nearly o. gloomy
the classe of this country the same
tpeiaa year The present s,se Of suspense in regard
10 swar, Is than open hoshes. At present
thsmarkc orly tdc ligh, preventing the Of