Morning herald. [volume] (New York [N.Y.]) 1837-1840, 1840-05-27

MONEY MARKET.
Tuesday May a6---6 p. NJ.

The burning packet ship Poland at sea- caus
et good deal ofexcement this morning. the details will be
found in another column The loss property
although fortunately lives lost The transaction
sed much gloomy feeling The feeling of dealers is becoming
nearly allied TO despair and change the federal admins
taon beginning to be looked forward the great side
ratur by all parties The utter prosaon of business
credit creating desire for change that rapidly sweeping
party landmarks; whatever the change be- felt
that cannot be 1t is always the disposition Of the
Of the people acrbe TO The action of their rulers
those disasters which too often out Of their
We appreheRd that the chief of the pre-
sent depression the want of confidence engedered BY the
Misconduct ohe United States Bank and the
sylyana That institution has for been looked
great moneyed CENTRE and the State of Pennsy
stood highest in point Of credit As long the bank sndhe
their present refuse pay
their Debts disregard the m hts of creditors and provide
the interest change in the administration If
federal restore credit revive confidence
among the foreign holders Of their securities revive
disposition Of foreign capitalists to invest in them The
policy of the have
ring confidence long the institutions destroy
credit by their acts.
There was very little done at the stock board to-day Trans
tons IT, s. Bank unusually large, and large purchases
made; understood to DC phaaccoun The
carious situation which the Institution stands in relso
to its eastern creditors brought sellers freely into the Market
upwards sold closing at improve
CT per the close Of yesterday Harlem inpro
we'd per cent
The property destroyed the Poland may be computed
follows:-
Value Of the ship ...........'."... $4,000 ,SSSs
Specie on board ................... IV,00o
Valueoi cargo ..''...'..''''''''' - SO,Ooo
Total value ACKNOWLEDGEMENTS. $4,000
Til. ship insured and the cargo including freight
insured as follows:-
At the safety Insurance Company, sisoso
+" F" Ocean .................... 10000
" {" American .................... l0,OOs
sss,oOs
The specie understood be insured in France The losses
ON the Offices in this city are therefore, heavy as they
might have BEEN which is fortunate, when consider the
condition of the insurance Olices generally.
We have frequently promised to into the condition Of the
ance companies in detail and will to-day with
the Fire Companies Many ofhese Companies dis
situation and notorious borrowers the market
The last year prolific in losses and tn.
panies have largely impaired their capitals The number Of
es the disastrous losses attending them, have undoub
edy grown o the dividends declared by the copa
ns in any instances beyond what they afford and In
tended only for effect This osentsous display Of wealth
dnced many become insured for fraudulent purposes de-
sign which has been favored BY the loose which po-
cs issued by the companies The companies have su
red largely by this state Of things and Notwithstanding that
the capital Of many Of them impaired they have declared
dividends which they could not pay, in order keep up APP
pearances The charters Of many Of the companies require
that they should report full statement Of their affair, scni
annually the vice chancellor and the statute requires that
should be made the comptroller or IS companies in New
York IS only made their returns the LIST January,
! $780, the leading feature, Of which follows -
L.