Morning herald. [volume] (New York [N.Y.]) 1837-1840, 1840-11-16

-w sunday, Nov. 10 r. M.
The negosistion which has boon 80 long pending be-
tween the Banks ofths city and Boston for
dation Of has been nearly brsusho close BY
the consent Of the Banks of this city to put in IT to the
mount Of and half millions Of dollars The epe-
ration Of extenon at increased rate of interest
although called loan. The balances due by the IT,
Bank the other Philadelphia Banks, amounting to SO,
declared by that institution to be the only
sacls to its resumption in January next To enable to
resume the banks agreed instead of demanding
lnces to take the post notes Of the Bank
months bearing in cent interest These bonds they
passed negotiate in the New York and Boston markets
to the balances due by them ia those cities This
they unable to do The have
lying in the Philadelphia Banks to the Of 81
CO., and the New York Banks probably equal amount
their proposal to the Boston take the bonds
OF the debtor Banks for the balances IL and 10 months
bearing per interest and able in New York with
thc U. s. Bank bonds collateral The Boston Banks
then addressed circular to the New York Banks to
tain fhey would into the This they have
consented The Bank Of Commerce to the Of
$25aO00 and the other institutions make up the sum-
oeO each The relief thus granted the Philadelphia
Banks thus postponing demand for So 100000, IL or
~ months. The has been entered into very
lnctsntly and nothing but the strong desire which has
existed in this city, at the East to restore the currency
to sound basis and uniform value in order that trade
might its operations could have brought them
form practice in regard to merchants and depart
ure from sound banking principles.
At the Board yesterday the amount Of sales large
end prices Auctuates slehtly n Am. T. Bk declined
per sonington, improved per cent Long Island
1 Del Hudson, Harlem, declined per cent Can
ton per cent vicksburg per cent. Sales of Indiana
SIS were made at 76i Illinois, IS, 19s
There strong movements going for the forma
don of board Of brokers. Application will be
made to the next Legislature, to incorporate and regu
late the New York Stock Exchange An attempt of this
kind made, think, in 1885, and the Legislature
sent down Of their body to investigate their
OF doing business. The result do not remember
it said the secret service expenses during that winter
were $4,000, through their agent at Albany.
In domestic exchanges, yesterday there i'm.
porant sales Philadelphia made u discounts Balti.
II discount; New Orleans 1t a III Mobile ST 81
discount.
Philadelphia is apparently removed, may look for.
ward to that with degree OF onndence the
western and banks have declared
20 resume Philadelphia leads the way At New
Orleans in particular they have been waiting the signal
from the north 1t is true many Of the southern egsa
turss have fixed day for resumption. This has been
owing however, the understanding that the event de-
pended less themselves than Philadelphia ANY at
tempt of the banks shield themselves under their stats
laws the legislatures to shield he will be fol-
lowed by discredi. and faarc II is undo ubtedly the
case that will be the fate of large amosnt Of CAPT
tai In Mississippi New Orleans, Florida, and Georgia
and perhaps Alabama, some Of the banks will 20 into H.
oudaon; but all those banks which have been managed
with any degree Of prudence will resume, and them
will the future business be recognized Those that fail
will constitute that redundant capital which rather en-
ouubers than business The following is the con-
ditiou OF the New Orleans banks the Sd instant a,
compared with the return Of October 81.
New ORLEANS BASxs ON THIS 3D. NovEMsEn, Is4o As corr
rAkED wIrn the s.ruas o. Ocr 5, 1890