Morning herald. [volume] (New York [N.Y.]) 1837-1840, 1840-08-31
MONEY NIARISE EFT.



The stock market continued heavy yesterday. United
States Bank declined per cent; Harlem per cents North
American Trust Bank improved per cent; Deawarek
Hudson per cent; Ohio Life s Trust per cent. For
Alabama sterling per stock SO offered 90 asked
Philadelphia exchange again fell per cent.
The Secretary of the Treas Try has given notice that
s2235l 81 will be paid to the claimants under the Nea
potan Indemnity, application to the Bank OF American
at New York, ami after the 81 of September and at
such other places that bank may designate The
is supposed to be IL 50 1000 per the amour;
awarded.
At Boston Friday, $1,000 of the stock of the City o.
Boston per cent, sold at auction at 99i per cent
The recent movements Of the United States Bark have
caused good deal of anxiety in the market The rapid
depreciation of the Philadelphia currency, caused by
the immense issues Of the bank The increased Indebted
of Philadelphia not only this city, but Boston
and Baltimore, in which latter city bills Philadelphia
liaa per Disc aud caused by the immense Dor.
rowing operations of the United Bank although
has yet paid nothing beyond the ordinary demands upon
H. OF great anxiety, when view cd in connection
with the immense payments Il has to make in the next
four weeks. The following is extract from letter
from authentic Ia philadelphia a house here
PaILADHLPHuA, August 20.
The United states Bank has increased her issues
think in purchasing Treasury notes to pay off the 60
ycrnment considerabep part ofwhch IL anticipated also
in payment TO the State of S00O00 required 20 be loan
ed 10 the sateaso, is asserted, she is certifying
at New York New Orleans, and other points, at the
a
other banks here resuming BEIGE 18th January (Which
they Nous TO do) and which be done while
they overloaded with Unite, states notes The friends
of the bank confidently assert the Bank will be ready to
resume in January"
The operation Of buying Treasury notes to pay the GO
vernmsnt have other motive than to cripple the go
yernmcnt, because specie be bought cheaper The
organs Of the Bank have endeavored make 1t appear
that the present depreciation Of its bills has grown OF
its advances the government debt of $4,000,
due in the of this week It little ridiculous
suppose the government has taken paper depreciation
OF per cent, for advance Of days only. That the
Bank has been buying notes and specie pay debts
the government and Its loans to the ststc unioupted
fact The 100000 probable to the latter part of 100000
for which Pennsylvania sold its honor Aer the close Of
the late session, Governor Porter finding himself out
witted by the Banks threatened to enforce resumption
unless the Law in regard to the loan complied with
The portion TO be paid by the United states Bank s as
allowed stated. This makes the accruing Indebtedness IN
few weeks as follows -
One n,( the Gurney loan IN London, .. s2ooeote
Renewed post no' and biils i,VooOo
to;is s ~ L9nds F SooOce
Losa STATE u Pennsj isaa, ............. 100000
To meet hese payments by extending the issues q rTs
deemabe Iapr and able 10 resume in January next
impossible The friends Of the bank, however, pretend
great confidence her ability TO do So Il is undoubted
fact however that the bank is already intriguing in GER
aix quarters for the passage Of bill at the coming
sion Of the next Legislature TO extend the suspension
Their years and bank party gain the ascendancy that
state will he done beyond doubt The only chance for
the resumption OF the bank is the possibility making lite
assets in Europe available large portion of these
consist Mississippi Michigan and Illinois stocks. These
stocks undoubtedly the best possible securities but
the Michigan stock 10 the Of 100000 have not
beenpad for The State Of Michigan has in vain, sought
additional security from the u Bank and the Morris Ca
nal and Bank The London Holland, Michigan, and ndl
creditors of the latter concern, have been refused
investigation into its affairs. There is another point
to make these stocks available the bank must first pay of
the loans and debcntures for which they held
securities.