Morning herald. [volume] (New York [N.Y.]) 1837-1840, 1840-03-10
MONEY MARKET.
Monday, March &c II. M.

general manifest the stock market today,
aud prices description with the exception of Man
haitian which again declined per The committee have
NOT mustered courage sufficient place report before
the public have but little influence the Affairs of
the 1t classed with the Schuyk Bank of Phia
depha or the old Marble Bank Of this city, This always will
be the fate of Institution that becomes the tool of stock
obbers u Bank improved Of cent; Harlem cent;
Boston and Providence per n. American Trust and
Banking Co. 81 cent Orders for this stock have been
received the by the Great Western the extent of 4os
500 shares, account Of with the British
East India Co. permanent investment Prime, Ward
King have made purchases today for this account
The North American Trust and Banking Co. has long been
struggling against rival interests; during when the
market has been under depression powerful
clique here has exerted itself to crush all opposition and no
has been left uned the credit AT all other con
An attack made last spring the credit Of all
stocks except New York This effort went great way to
kill the market for all stocks in London and the interests
in that city favored the The consequence was that
large portion ofsecures held by the banks unavailable
and those that had not large cash capitals were Obliged to dis
pose their stocks scarice By submitting to losses
Of ibis nature they have been enabled to struggle until a
fairs England have reached their crisis and the growing
money market leads capitalists early to look forward for
profitable investment The rate, however, at which Mr.
Jaudon has borrowing nearly IL cent has
spoiled the market for all other applicants but his demand
has ceased for the other agents beginning to
Mr. John Duer succeeded in making with
the Morrson about II cent condition that
they should have the future Of his The basis
which he holds, particularly Kentucky state stock.
Col James Murray asagen for the North American Trust
Banking Company refused TO accede TO the exorbant rates
demanded London and Pans for the purpose of
negotiating loan Indiana stock through the House of
Baron Rothschd requested that they should accompany
the proposal with fly sheet in French stating the
which the interest is paid After negotiating week
satisfactory could be obtained, and Col Murray
tered the market himself attempt sale OF Indiana
stock which he effected with the hi lilly respectable houses
Messrs FOUL Co and Messrs Blanc, Collin, Co., upon
cepble This is the rs American State
stock placed the Parsan Bour and be consd
cred the entering wedge to extensive future operations tn.
nature. The capitol Of France is peculiarly adapted to
negotiations of this description 1t the point which most
of the small capitalists Of Europe and England attracted
both by the cheapness of living and the society which affords
Could this class of persons acquire confidence
cues the quantity created and unavailable nks
would be readily absorbed This would go great WAYS in re-
storing the usefulness of the banks by rendering capitals
active There now evidently goodsprt Of enquiry abroad
French circles in regard to these stocks The
Europe full ef unemployed capital Coin has been
flowing from England until the markets ovcrsocked and
those political which last year destroyed conf
dence died away Lafe Bank and the Of France
contracted largely last again about expand The
latter tuition has circulation Of 900 600
And cash Of. 2I5oocooo
This gives for great extension At the time the
of things in England is improving bat the prospect Of
another short crop i'll for permanent mar
ke and may therefore operate against the American
the door opened in France by IL, transaction of Col
From the of the r American Trust and Banking
Co. this Transaction is highly probable they may able
to negotiate favorable their boa for 900 on Sc
cury and mortgages for that in the hands
of Col Murray The affairs Of this bank ant the reputation Of
Mr. a negotiator of stocks have mia to
London capitalists. Their late successful move the low
their stock here united with the pros cctiye difficulty
of investment the London market have attracted much at
tenon and the result has been the mentioned Or
ders for in its stock The difficulties under which
the institution abors are briefly described in the folio wing cir
cular issued by ,hem:-
No'ih N fhNY, No. a. Wall srR REEfiN' ooN'
The Board Of Directors in furnishing the ssciRoidsrs with
the usual condensed statement Of tho earnings aud losses OF the
to the in f he financial s GIT,
fairs Of the whole trading %Sa Which are 100 Nell known
ed the calculation. Of the discerning and ovsThrown
That this institution hs 'aeIsd y common with others,
: i' . %sI'i iaas $
bank disposed Of to meet mared engagements
riOd e TIE CREATES, dspree',on the value Of such
debt. and to s Institution sfc O While
i sf SIsy the Toa ss s s S
bank together with the SUPPLIES on hand when the Ls dyi
dend deelar rendering the payment Of dividend at this
We these unhappy inf have caused the institution
By ,hs unssneroas opposition Of rival efai s
ON Rs . p Gu. IF a.
SshsI hss sy Il. SaSI sSsd a%pl, 't q
tile securities will fvOrsbly compare with those Of other
banks.
the circulation has been reduced from SISso
the securities pledged with the Comptroller erer
sol far 10 the present reduced This
adopted after the most mature deheraton the
OF the having evinced the Of ookinr
amount Of available sccuris provie for
circulation which rendered 'auess by the operations
ad, rrsc interests
Although all speculation the future may he considered
idle while viewing the iueseahc Of events that has
and that prosperous state OF things may be
pected By prudent yet liberal policy topars debtors,
confnng III. EXPENSES Of the Institution within the
possible limits by the exercise u caution ia the extern
Of itiss and by taking the Of
favorable opportunity which presents ite for the investment
situton Il hoped losses m sy be speedily r,ganed
ta the stockholders will realize all the benefits which
originally anticipated.
b1Sp AND NoRro,oE DEPARTMENT.
or the securities held BY the Bond aud Mortgage Department
about cent Of the whole productive property To-
Gated n this city per cent productive property in other
parts Of this state and cent on productive property 81
The appraisss Of property which the ab,ye loans
made low rates and the OF the whole
loans the city averaging 50 per cent OF the
city less than SO per cent
s.rEI~o DrrApr~E-r.
The loans and Discounts 9Th Sl.iee59n
Loans on taken fer capital ao1 500 90
Specie hand I3asT3
The circulation sissiio reduced to 5000 90
C,rir,L sroeNOrth. Eve millions OF stock subscribed.
there has been issued S37so poe
PRorIr LossThe amount to the credit Of profit and
loss, as per statement annexed, 10 s7i Al IS.
Byoricr Of the Board Of Directors,
wALrrR ME,p, Cash. yosEVu ID. BrkRs Presdt
rRorIr ., ,ceovrr soRrH
rEusr s-p H,sKiSo cOMpssv.
January s-To Loss State Stocks sisa oss "a
Interest Bad Debts Nc sss.sss-............ tsssl "
t'PhTc r., pn1,s.,n. c,mn,r,i,., Ne. r,,,.. a. as az