Morning herald. [volume] (New York [N.Y.]) 1837-1840, 1840-05-21
HONEY MARKET.
49,


The Harrisburg and the precarous situation
Sfthe State depressing effect upon the
markets the Stock Board to-day Sales were small and
uxces fell u g. Bank declined cent; North Am T. x
Ranking Co. per cent; Del. Hudson, cent? Harlem,
per cent - -. - 81.
There ia but little doing domestic bills, ard the discount
particulary Georgia and Mobile. The
,rv NANCY of this again becoming deranged II will be
fall the StaBank ceased TO redeem Saft-
~ E,pa money in this the rate Of discount very high,
and until the 9th of convention Of Safe
A., Fund Banks held at Auburn whereby il arranged
that bank should be appointed Albany Troy to act
aren't to the bills and notify each bank by mail of the
amount Of then hand for redemption The Bank
40 notified its bills sealed the end lsday
after the sealing by drafts sds current in Albany The
agency charged lilo per for conducting the business
The new hanks generally into this arrangement under
which the rate Of gradually fell from cent to
n per cent for Red Back and Safety Fund The banks
10 keep the sysem oeschangng with each oher and adj
ustpg the balances To this arrangement the safety Fund
.,;l adhere sut most the banks under the law
have been thrown agency and the discount them
. dlv rsps The following list Of those still redeemed
at the agency -
All the Utica Banks Wstsrtown,
. ith Ssnl =, LIE Roy, New York, except "s''s"
MShscsL VALLEY Bank. Agricultural Bank Herlmer
These bills are taken in Wall street at u az cent dis
n and all other free bank bills at cent discount The
- of the red money uncertain. The brokers buy
cautiously that which redeemed to-day may be
c an EXPLOSION agents Of Of the banks in
mi. city are selling their bills constantly increasing dis.
count Many of will be unable to comply with the terms
80 An. new law requiring them TO keep funds Albany or New
vi for the redemption their bills The law roes i.e
Iteration ON the Of July and every used mean.
h on the part of the weak banks force circulation de-
recate their bills and buy them in at discount explode
18th a large circulation out.
IA ;i be recoleced that Mr.. Humphreys was appointed
80. lime SINCE receiver by the Court Of Chancery TO
lind up that infamous called the City Trust and
Banking Company That gentleman wa, unable to attend
an. duties Joseph Woughby Esq has been appoint.
a a.. Al. o6ce and upon the duties n
that this concern has deposite with the comptroer
of stock worth rs cent and has out 81 200
hills obi aimed from the comptroller So far the opera
we're honest hss, however, in circulation the south
nA southwest, upwards of 100000 Of post noes 10
h;ch it assets OF $4,000 nominally in bonds and
OF these tive emily are OF value one is for
~ 10 farms in Geneva and the other sig 900 on rr
Wr,;a This latter mortgage has been distracted from
IN "a the following TT stood in the nam. Of
% -, of the firm Of Weston Greeley, brokers' in Wall
e. sis Co., Weston, beiag Of the directors wen,
- room with the president and ose or two o,,
'n'o WY .sa resolution to receive their post notes In -
~ns Wv oryases. Immediately AFTER, Weston went 10 ~
teman and asked HIM to lend him SIS Do ct no,s.
hoveyer but $4sSe on hand, and Munson found $50
ne n~A' .d. up $4,000. Weston then paid ri, ., A.
~o.e, .;., who delivered him the mortgage Tb;s "
oo Wv 80 Greeley and Abbott back the post no4 20
Ton Measures taken to recover this dscumen, 20,
g, or the creditors Of the bank There is great h,.
"' ~. .oncern will be made an example Of
IA. ~ al. to-day exhibited the features which ,
II" 49,. c,rmer ones. II was we'll attended and -, =.
":-;, The details will be found under the head =,
WIN Trade, al also sale Of real estate under chan
AT prices which indicate the depreciation of that
A~seripson Of property.
~. legislature yet have done nothing hill
, introduced to establish branch Of the IT, s. Bank al
p,,,,, with capital Of $ioossoo This m probably part
~ The ocofoco anti bank principles Nothing has been done
.rd. providing the Of the interest the State
.h, In August next The subject does be worthy
az notice The credit and standing If the State Of Pennsy
an;a and with the whole United States depends upon the
manner in which discharges her and
pro,ids for future contingencies few short weeks may
impending fate Her Faith to be strong in the u. g.
al ,h., is well known dependent upon that
section OF country whose chief Of wealth IL in its
production of cotton The culture Of that article has BEEN for
ths last years actually Of mpovershng the
try in which raised The producers Of il have purchased
their supplies from other sections, at prices regulated by
own currency while their sales have been made
sorrign dearer currency. The proceeds Of
sp.ci~ curreIcy have formed the OF purchasing
the southern States By the operation cf credit the currency
Of this county inflated until prices OF supplies have
rseu much higher in proportion than that Of There
FORE while the power OF purchase among the grow
has bee abroad the rates al which they purchase has
been regulated at home the has he.
has been losing business The following table Of IA, croo
Election and its value for zach year, from TO 1907:
Csoys ASp VALUE UNusp Srarr.
VALUE or sHkApsruFFs CONSUMED AssuA AIN