Morning herald. [volume] (New York [N.Y.]) 1837-1840, 1840-07-30
MONEY MARKET.
"wednesday. July $50 p. NJ.

The transactions the stock board this morning. mark
the progress ofeven holders of fancy stocks running
a to get quit them United States Bank particularly
has felt the influence of the growing want of confidence
in her ultimate sovency That stock declined d per cent,
North American Trust and Banking Co. 2, stoningon H.
Harlem l. Utica and Schenectady Delaware and Hudson
l. Farmers Trust T. Exchange Philadelphia
this morning. sales being made 81 per discount
The Bank of Mobile has declared a semi-annual divi-
dend of three per cent its capital stock payable the
stockholders in American gold
The brig Huntress arrived yesterday at Phil adelpha,
from New Orleans has brought $4,000 in specie to
Hand
Mr. John Marshall President of the Bank of Illinois, left
Philadelphia wdays ago. with 100000 in gold, which
has been special depose in Philadelphia since Novem-
Der last. There is growing disrust of the Philadelphia
in all quarters which occasions those counter
movements of specie. On the day specie arrives in
Philadelphia from the West via New Orleans and large
amounts withdrawn in another direction Many Of
the and southw banks after the suspension
fall made special deposites of specie with the U. s.
Bank in perfect condolences recently that confidence has
shaken and from all quarters demands for balances
pouring upon her The transaction of the Kentucky
ssQ fall will be recollected, which placed 100000
with the u. s. Bank Agency in this city, special de-
poste This Immediately taken to Philadelphia and
transmitted to Europe and the Kentucky Bank had much
difficulty in procuring settlement. The of the
u Banfor the last six months has been such as to
alarm the fears of those interested in it. Its true po
~. -. - o,o.r, % ron.;r II. crsdit hv rosru,,ion
that would nothing hut the most perfect insolvency
,,,. -. ,rron,ad hat cours, II will n. reco,,ec,ed
in March last when the question of resumption was
strongly agated, that there appeared in Philadelphia
paper what was considered semi-ohcal announcement
that the dcuy In the way OF resumption consisted only
In the balances due by the Phadepha banks 10 the East
amounting about saOOOOoo, which also about the
ann due nv the H. & Bank to the IL was
proposed therefore, to effect settlement as follows -
Were tbs northern and eastern banks having claims upon
rnmny Of Current demands 10 Transmit 10 Them
their bonds OF III sc Of the Bank o. the United stats
rSeb has see"muated ali the deaty would be at an end
The Bank Of hs In.d slate e.us al once ITS sns
,ors ' '''' '"1-' -"' VIZ ~
This proposition was at once embraced in Boston and
here each bank paw the balance due by
in its oyn bonds or post notes at IL monhs but the pro-
position being little equvoca meant that the whole ba
ances from the different banks Of Philadelphia were TO be
transferred to the United Bank in liquidation of the
balances due by that institution the other Philadelphia
banks the eastern creditors receiving United States
Bank bonds the whole amount This arrangement
universally rejected on account of in which
the United States Bank then stood The consequence
that a resumption could not be effected because the u.
states Bank held Of the notes of the other banks abou,
s3oooooo which, they issued the bonds for their
balances and resumed Independent Of the United States
Bank would have been instantly demanded in SPECIE and
a s,sppage would have been tie result The article to
which have alluded in reference to the effects Of
pension, stated as follows -
Capital and labor unemployed, and there is peet
iy loss, IN Philadelphia alone, Of not iss than quarter Of
"'..''" ~ oO'a'' -. -,
rms cause mas oeen :" an ,"e uus.,
ness e"""""'' W 80 ~ W. e'fVso
BY the of the United states Bank and for what
han have
WY" :,
opportunity TO turn IN their own usons upon the
harL % the loss of the In the same
' -, - -, 80, a., -,
but on an Immensely larger scale, that the speculs
ton. NJ "A, fy were tSrned upon the Manhattan B.nk
u""' VI "'Js""v W" 80 "'
TO loss on the part OF the sockhoiders, oil about 10 per
-, Th.r. "a m ,i,,c o., he los, In Iook ng ,n.r ,hi.
Sc"H '"e'' - ~ 1880 - - " - 5000 -N' WITS
affair.
IT. Al. roa.ral covcr,,en, a..
." - a. 49,. - N'e
curoas developments Ahoug IN the situation Of large
-. 4. -. 49,, c,re.d 20 rut IN. s,,N,r...,.- an
o'i''"e''i mas 80 ,.,, ~ - - s , D"i