Morning herald. [volume] (New York [N.Y.]) 1837-1840, 1840-11-02
PaIcEs OF STATE STOCKS.

The Governor OF Illinois about to assemble the legis
lature Of that State three weeks in advance of the
usual time to take into special consideration the of
meeting the interest due the stock othat State in jan
uary next Last year. will be remembered the interest
was actually protested this city, and subsequently set
tied The State OF Illinois has available means to pay
its interest," and prompt DO resorted in the
present state of the market The session will also
into consideration the suits lately brought the
tractors for the State loans The decided against Mr.
Dela6ei in this State recently has been appealed the
Court Of Errors and bonds given in the requisite
The State papaby in in this that there
but little doubt she will recede from her position and a
point commission to settle the affair The Governor of
the State party to the contract which, it is
sought rcpudate in much ashley examined and
approved by him before he executed and delivered the
bonds in accordance with their tenor The plea set up
that Commissioners have right sell credit pre-
posterous and with the universal custom Of all the
States The fact is self evident. fa State
market with loan of 81 900 ooo she merely does not
pect to find any bank capitalists who pay the whole
amount on delivery of the bonds. Such position is at
war with common The effect the credit of ILL
nos which her conduct of last winter has had su
cienty apparent to point out the receipts Of adherence
to her contracts large portion Of the stocks affected by
these have passed into the hands third par
ties who made their investments depending solely upon
the obligation Of the State expressed upon the face Of
the bonds On them loss has already fallen Of 20 per CT
in consequence ofhe depreciation growing the
ofhe State In all honor and honesty the State by its M
conduct is bound restore to that stock its
value without regard its temporary pecuniay loss
Western paper has the following upon this subject
Governor Carlin has confidence in the ability Of the
state TO meet all her liabilities with promptness that
were under wrong impression Ia regard to Gov. Cs
views this subject prev alen among portion Of the
people in that state There is but one for the
pie in illinois pursue and that is to resolve that they
are able to meet all Liabilities, and that they will do '
he off he tate Of Neu York declared semi
annual dividend of3 per cent payable AID after the
10th of November
The Federal Government. it is said has made call upon
tho Bank Of Missouri for all the deposies W,
wards of 81 100000, to be paid by the LIST December In
order TO do this without curtang too severely the Bank
negotiated recently in this city loan for $4,000 at
and u months The bank has commenced ats usual pur
chases New York. Boston and New Orleans against
tual shipments of produce.
The present condition Of the u. s. Bank and its pow
erul and ambitious hold Of the other banks in Philsde
pha gives for the deep interest evnccd in its future
We learn by account from Boston, that no
hope be held Of in procuring extension
of the Indebtedness there and that assistance from that
quarter must be wholly abandoned. 1t was stated
however last evening, in several financial circles that
the Commissioners had made such progress in these
rangcmcnts to the aid Of those Boston banks
We have heard this stated with great postveness by
spectacle parties. that ought to know But among the
conflicting and assurances this subject Ii Is
very dnicu for impartial minds TO Know exactly hat
progress this negotiation has made what may be the
result
Mr. yaudon Mr. Alsop, and Mr. Brows, all Of the United
States Bank arrived here today and two Of them
return by London, TO the negocia
tons Of the bank there The hopes entertained that
sumption would be effected In January next were dying
away. The three commissioners who went TO Boston
to negotiate loan in aid of the Philadelphia banks,
had not yet bee, able eGce. IT, But whether these
gocations have succeeded not Is confidently believed
in certain quarters that Mr. Jaudon his return to Lon
DON will be ab. put matters in such train there TO
enable the Banks without fail on the day ap
pointed The eminent talents great practical skill and
courteous prudence Of Mr. Jaujon unquesonaby inspires
more confidence in the future and ability Of
the Bank to resume all the efforts management of
the or officers this side the
The present condition Of the bank Is partly the
result OF the vast cotton operations Of 1888 which
was extended throughout the South ON scale too
vas, to he successfully managed The frs, effects
apparently profitable and this country and Europe
loud in their acclama,ions Of praise. The active cap
tai Of the L. s. Bank invested in the Southern and
south westsrn Banks, as ths mode by which the
system was perfected These banks distressed
and the bank cannot recover from them its expended
funds In 1888 the plan Of the United states Bank
get entire control Of the Southern Banks, and through
them adv ancc on Cotton-all cf which 20 be ship
ped 70 Liverpool To do this, she commenced by
oanng to the banks os,cnsbiy TO enable them to
in the following January. Mississippi being the largest
cotton growing state of the Union peculiarly the thea
ire ofopcrations In tina, state the following
advanced.
Loauor rnx U. $. D,Sx ~ Mrsusrrr.
Loans. PREF pr,-