The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1842-07-26
BANKS OF New HAMpsuInr


Some time since sale of securities held by Morrison
Sons of Lon on pledges part of the London debts
OIL the United States Bank made at Philadelphia
auction but through some Encouragement their part
the object Of the sale defeated. On Saturday last
further sale advertised consisting of Hazeton Coal
Company stock and also Trust certificates of the Farmers
Loan Company of New York. The sale was apparently
directed by Mr. c. Fl. Foster, young lawyer the two
younger Messrs Morrsons, and Mr.. J. A. Brown with
view to obtain title, if prices sufficiently high could
be obtained to SELL The company in attendance was
large and respectable and the sales were made with the
following results
100000 bonds of the Hazleon Coal Company, redeemn
bic in ls46 bearing interest per per annum pay
able semannually in London Secured by mortgage Of
the companys works; executed to A. Lardner, H. Cope
and T. s. Taylor trustees Sold TO c. II. Fisher per
cent OIL the par value
aa5eo0 Farmers Loan and Trust Company of the city
of New York, in bonds of $1,000 EACH interest payable
semi-annually, redeemabe in 1857 Sold C. H. Fisher
at 10 per cent on the par value.
With numerous attendance, not offer made
from any other parties, and they all struck of to
Fisher the representative of the Morrsons at ms own
bid.
These were portions Of the choicest of the late
redoubtablc National Bank. The Trust certificates
part Of the pledges for the loans of Mr. Jaudox who
displayed vast ability in semming the tide of ruin which
management at home. The Hazleton Coal Company
stock was sent out in the hands of r. Asop and J. A.
Brown special agents Of the bank, and by them
added the former securities held by Morsons in order
procure renewal of the debentures which fell due
They estimated at their par value and have realised
an average Of 80 fact which them have
been among the best ofthe assets for tn bulk of them
vaueless especially that s2sOOOOOO of suspended debt
which the committee stated mercantile paper
he If
in the Legislative report of Mr. sharswood it fair to
clude that the whole spent corruption and yet
the people Of Philadelphia allow the fostering to
stink under their noss to the eternal disgrace Of their
city and State. Why the frauds laid open and
the perpetrators punished
In cur article Of Sunday endeavored to point out
the enormous imposition the public will suffer from the
new tariff by the continuance of the OF specific
duties as imposed in 1882. In consequence of the
fall of prices the specific duty will be equal to
ad vaorem duty of at least per higher One Of
tn, worst features of tae tariff appears however,
hitherto to have escaped notice. We aude to the six
teenh section which empowers the appraisers to place
their value upon all goods imported and to cast the
duties upon that value without appeal The passage is
follows:-
Sec l6. And be it further enacted, That in all cases
where there imposed any ad valorem rate Of duty
any goods imported into the United States and in all
wnere the duty imposed shall by law be regulated by or
ueced 10 De estimated based the value OF the
square yard OF any specified quantity parcel of such
goods wares or merchandise IL shall be the duty Of the
collector within whose district the shall be imported
OF entered to cause the actual market value wholesale
price thereof at the time when purchased in the principal
markets of the country from which the shall have
been imported into the United States be appraised esti
mated and ascertaned and to such value price shall be
aoen all costs and charges except insurance the true
aiue upon which duties shall be assessed SHALL
IN every such case be the duty the appraisers of the
United states and every Of them every person who
snail act as such appraiser the collector and naval
omcer as the case may be- by all the reasonable WAYS and
means IN MS or their power to ascertain estimate APP
praise the true and actual market value and wholesale
price any inroice affidavit thereto 10 The CONTRARY nor
withstandng. ~ 'y wv
Section seventeen provides that the owner of the goods
may be summoned on oath to produce invoices
letters, &c, under penalty Of hundred dollars and
that the decision OF the Collector Appraiser shall b.
final and conclusive. II the importer objects TO t an
praismen the Collector may select two citizens to appraise
the goods and if they disagree the Collector is to decide
between them, and his decision shall be final "sny act of
Congress to the contrary notwithstanding" was ever
greater inquity planned upon paper than tbsi The coll
ecor Of every port be sole Judge and to levy such
duties he thinks proper, and may prohibit goods at
pleasure without appeal The atrocouswckedn of
proposition only be cquallel by the apathy of the
public that has thus far cndu in silence What would
be the practical operation under this law Let us project
The Middlcsex factory, at Lowell Massachusetts
has capital Of 81 100000 Its principal view i'll call
A. L.. who may have correspondent ot Liverpool That
correspondent may ascertain the custom Liver
pool that quantity Of woollens have been cleared for
New FORK board OF packet ship. He will then trans
nit pro lorna invoice 10 A. L. Of similar lot of goods