The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1842-10-18

Monday, October I7-S p M.
The operations at the stock each snge have been ss usu
al small without material change in Long Island
fell Indiana per cent bonds rose per cent Illinois
6s I. q.
Look out for counterfeit 81 Northern Bank
Of Provid ence. ~
Alabama funds continue to improve. Sales TODAY la
a. Some speculation is app this paper probably
Of the State Bank the President of which h,.
recently been here At Mobile the 10TH rates had fur
Their receded about per cent and nearly nominal
Drawers had been very reluctant to yield the decline
the indifference OF buyers and general expectation
hat would 60 still lower contributed render par.
uneasy and quite anxious to SELL The Bank of Mo
bile checking New York at u per cent premium
Specie scarce and good request for remances New
Orleans.
There anxiety in relation to the expected
by the Boston boat which may reach here tomorrow
Hopes strongly entertained that disposition TO in
vest in American securities may have grown out Of the
abundance of money and the scarcity of of invest
ment in the London market
The Mechanics aud Traders Bank has declared dvi
dend of three and half cent payable and utter
the LIST November next.
The City Bank has declared dividend of per cent
payable on and after the LIST Nov next.
The Union Bank has also dividend Of four per
cent, payable on and after the LIST Nov. next.
The low state Of foreign exchanges throughout At
antic ports such that the old of purchasing
crops letersof credit be
serious less Hence those who send specie to make their
operations obtain great advantage others In Eng.
land there at the latest dates every prospect
val in the home trade which that which requires the
greatest consumption Of cotton The elements Of this
vval first the low prices of articles Of food and
condy the abundance Of money created by the Bank of
England apparently with view to assist in restoring
quiet by stimulating business and speculation thereby to
remove the of the complaints In regard TO the
first these was estimated in parliamentary
mtee by Mr. Gladstone that the consumption of in
England equal annually to - 900 qrs This es
mate received general appreciation from the highest
thorities. II has been ascerained that in conse
quence Of the late tariff operating upon abundant har
vest prices of grain will rule about los less than formerly
This will give about 000 released from the pur
chase of food and applicable to other purposes The
duced price Of other provisions will it is estimated pro
duce the result whereby about EGO 900 or $780,
of the wages of the lower and middle classes will
be applicable to the purchase Of manufactured goods
year beyond what was the last year. This is ee
of recovery that trade Another is the abundance
and low prices of the material but this from exist
ing circumstances here must be paid for, at least good
part Of it, in specie The present abundance of money
England and the continent will enable this be DONE
temporarily at least, without much difficulty. Already
large sums setting this way for that purpose. New Or
leans now is and will for months continue to be- the
great central point for the accumulation of these precious
metals because from that port the greatest proportion Of
cotton well other articles Of agricultural produce
shipped From so 500 900 900 per produce
reaches that port The peculiar position of the banks Of
that city WILL however prevent the influx of specie from
creating any paper expansion the banks being dcre-
dit Since july 81 of specie has arrived in
| that port and it's effect upon the banks is seen in
the following table Of the circulation of the banks with
the specie they own, and the amount specially deposited
with them for safe keeping, and to be withdrawn at the
| pleasure ofthe owner:-
SPECIE CIRCULATION BANKS New On