The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1842-04-28

Total new loans offered, SIS, 100 900
The State of Ohio, in consequence of the discovery
that there had been an irregular issue of Stock to Bar
ing Brothers & Co. have adopted the following regula.
ton -
Ono STATE rocK.-RxouLArIoS FOR AUrHEr1r
eating CERrIrIcArEs-At a session of the Board of Ca
nal Fund Commissioners, held at their Office, in the city
OF Columbus, on the 10Th day OF April, 1912, the follow
Every certificate of the stock of this State, ISIS led on
account Of loans reimbursable, or on which the interes,
is pay able at any place out of the State, bearing date
on or after the first day Of May, 1912, shall lin addition
to the signature of the agent of the Commissioners of the
Canal Fund appointed to issue the same) be authentica.
ted by some suitable person to be selected by the said
Commissioners, and to be denominated a Register, by
subscribing his name on the face Of the certificate, i'm.
mediately under the word Registered > and no certif.
cate of such stock. bearing date on or after the first day
of May, 1912, shall be held as valid or binding OH the
State, unless authenticated, and lite registration attcsted
as aforesaid.
Canal Fund Commissioners Office,
COLUMBUS, April Is, 1912
l certify that this foregoing rule is a true cepy fiom
the minutes Of the Board on file in this office.
JOHN j. PALMER, Esq. Of the city Of New York,
president OF the Merchants Bank has been duly ap.
pointed Register, in accordance with the above regula-
ton.
1t is proper to state, that the foregoing resolution has
been adopted, not in consequence of any irregularity in
the issuing OF certificates, nor from any want Of conf
deDce in the present or former agent of the Commission.
ers, but in accord ,nce with the recent change in the
practice OF New York and other States, and as a salutary
precaution against error or mistake in the issuing ofcer-
tihc Ates of the stocks Of Ohio.
0ehSh w. OioNA VI IA bo'to " r uiu Out o.
ALFRED KELLEY, Commissioner.
Mr.. Jaudon is now at New Orleans as the agent Of
Morrison & Co., to collect s., 200, 900, due by the Gas
Bank to that house.
The general state of business is Aatteripg, and since
the opening Of the Erie Canal, a start has been given to
trade with the interior. The animation thus occasioned
contrasts favorably with the inaction Of the previous few
weeks. The transactions are, however, small more 80
than usual at this Season, and will be Of short duration.
Affairs are in a favorable train hut a restoration of full
activity will be q work Of time-a great deal depends
upon the currency Of the interior, which is coming right
very slowly. The Banks of Kentucky are to resume on
the 18th ofJune, and 1t is rumored that those of New
Orleans will endeavor to pay specie at the same times,
although not required to do SO by law until September
81. In Tennessee and Alabama there is no movement as
yet; but in the latter State the depreciation Of the cur.
rercy is SO great, (22 per cent? that the most influential
merchants refuse any longer to receive it at more than
its actual value. This will soon work a reform. Virginia
is also in a very bad condition. The connection between
the state government and the banks, has been a source Of
incalculable evil. The discount is a heavy burden to the
people Of Baltimore, where the bills flow in the c curse of
trade. A resumption in New Orleans, which as the
great head of the cotton market exercises an imme nse in.
huence upon the trade of the country, ould force a re.
turn to honesty in the other sections. A present the
pressure upon the mercantile interests Of that city is
very great, and the protested paper Of the banks is rapidly
increasing. The same pressure was felt in Philadelphia
prior to resumption, but now affairs in that city are
perfectly easy.
When resumption throughout the Union shall have
become perfected and the currency reduced to a specie
standard, as is now the case nearly in New YoAk and
Pennsylvanio a regular and steady improvement in bu.
siness may be looked fer, based upon a specie currency
and actual wealth. The finances of the federal govern.
ment must be brought down to correspond with such q
state ofthings. Then trade will be in good credit, firm
and uitbont dapoer cf q qudden Tbaro l. hory-
ever, at present, very little prospect Of any action on
the subject of a fiscal agent; at least none can be passed.
The tariff will probably engross the attention Of Congress
for the remainder of the session.