Morning herald. [volume] (New York [N.Y.]) 1837-1840, 1840-05-21
MONEY MARKET.
Wedherdax May 40 p. M.


The ements at Harrisburg the precarious situation
of the State depressing effect the
markets the Stock Board to-day Sales were small and
prices fell u. g. Bank declined cent; North Am T. *
Banking Co., per cent; Del HUDSON per cent; Hariem'
per cent.
There is but doing domestic bills AID the discount
s particularly Georgia and Mobile The
trv nancy of this again becoming deranged II will be
fall after the State Bank ceased to redeem Safe
~ Eund money this city the of discount very high,
and until the 9th of when OF Safe
40 Euud Banks held Auburn, where arranged
that bank should be appointed in Albany Troy to act as
agent seal the bills and notify each bank by mail of the
amount Of its then hand for redemption The Bank
no notified redeem its bills sealed at the end days
after the sealing by drafts fads current in Albany The
agency charged per for conducting the business
The new banks generally into this arrangement under
bch the rate OF discount gradually fell from cent to
per cea both for Red Back and Safety Fund The banks
were TO keep the system oeschangng with each other and adj
ustng the balances To this arrangement the Safety Fund
t adhere Of the banks under the new law
have been thrown the agency and the discount them
is rapidly rising The following as OF those still redeemed
at the agency - 80
Az the Utica Banks AWstsrtown.
if Ssa1 a, LIE Roy k New YSa except w'''"
MEh ssss vIi, u Banks Agricultural Bank Herkimer
rhss hills are taken in w all street at Il per dis
,, and all free bank bills at cent discount The
- of the red money is uncertain The brokers buy
very cautiously and that which is redeemed to-day may
dsued tomorrow. Many of the banks the eve
az an EXPLOSION aud agents OF some Of the western banks
b;, city are selling their bills at constantly increasing dis
n, MANY of them will be unable to comply with the terms
NJ the new requiring them to keep funds Albany New
VoL for the ptien of their bills. The law goes into
neraon on LIST of July, and is mean
b;,e ON the part the weak banks to force de-
recate bills and buy them IN at discount explode
With a large circulation OUT
will be recolleced that Mr.. Humphreys was appointed
time since receiver, by the Court of Chancery to
wind up infamous concern called the City Trust aud
pank;nr Company. That gentleman wa, unable attend to
he duties Joseph Wioughby Esq has been appoint
a a., Al. Office and enters upon the duties immediately II
,. that this has deposte with the Comptroller
Of Arkansas stock worth rs cent and has 81 200
r ~ hills obi aimed from the comptroller So far the opera
% az honest thas, however, in circulation at the souh
and southy est, upwards Of Ssooooo of post notes to
uhich it has assets OF $4,000 nominay, in bonds and
OF these TIVE emily are OF any value one is far
49, % two farms Geneva and the other Sl2 on farm
e;a This latter mortgage has been abstract ed from
~ IN the following manner 1T stood in the name of
inc ~ r N. firm of Weston Greeley brokers' in w,lI
e. s,s ooo Weston, beag Of the directors went
hank room with the president and two others
n resolution to receive their post notes in nav
S mortgages. Immediately after, Weston TO the
Lehman and asked Inn to lend him SIS 900 Dc st no,,
L,ey.r but S4,s5o on hand, and Munson found s5o
he h"' mad. up $4,000. Weston then paid tb. 10 n
more, s,;e, who delivered him the mortgage This w.
0''1 40 Greeley and Abbott gave back post nots 4,
ton ss Measures are taken to this Jscumn,
fs, of the creditors OF the bank There great boses
u" W.. - concern will be made an example OF.
ha ' ID. to-day exhibited the features which ala
~" ~ former ones. 1t was we'll attended and wan, a
"cei'' I'll. details will be found under the L.a5 :,
VIZ" Tr,a., as also sale Of real estate, under chan
eery order, at prices " ~ wv 'pfeci"'on OF that
,..c,io,ion Of property
legislature as yet have done nothing bill
introduced to establish branch of the L. s. Bank at
po,,.ye with capital of sl.cOseoo This probably part
- M loeofco anti bank principles. Nothing has done
- providing the Of the interest State
IN, in August next The subject does worthy
- o;c, The credit and standing of the State of Pennsy
; and with the whole United States depends upon the
in which discharges her indebtedness and
,ro,ides for future contingencies few short weeks may
lind her prostre aud yet made to the
;nn.ndns fate Her faith b. be strong the L. 3.
Rank as ia the days of its doubted credit The assets
f , is we'll known dependent upon that
section OF tn. country whose chief Of wealth in is
pdcn Of cotton. The culture of that article has BEEN for
,h last few years actually Of the
try in which raised The producers of IL have purchased
tr supplies other sections, prices regulated BY our
own currency while their sales have been made
foregn and dear,r currency. The proceeds OF
sp.c. cureucy have formed the of purchasing OF ali
the southern States By the operation o credit the currency
Of this country been inflated until prices Of supplies hs.
risen much higher in proportion than that Of cotton There
fore while the power of purchase the cotton growers
has BE-. ed abroad the rates at which they purchase has
en regulated at home the has be, n that cotton
has been losing business The following table tie crop
Of cotton value for each year, from
CRops AND VALVE Corror UNITED SrAry.
WIN VALUE OF HREApsrufFs CONSUMED aLLs
Crops. Price. paine Jaine Of Price Of
Bales. - Breadsil6s. Flour.