The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1842-05-28
MONEY MARKET.
Friday, May 27-6 II. M

We have again few days later news from England by
the British Queen No material change seemed however
to have taken place in the three days which succeeded
our previous dates The cotton market continued dull
and heavy, and the state of affairs the manufacturing
districts was, if possible, than before CONNER
ciai circular Of very eminent house states follows
after advertng to the low price of money and the accu
mutation OF bullon in the bank =
Amidst all ,hese apparent indications of Improvement
tnere sun turks anguor quite unaccountable in many
leading branches ondustry the sagnation remains,
and the products deprecated far beyond any thing before
experienced Nothing be more unsatisfactory than
the existing state Of things in the manufacturing districts.
Lancashire the prices of yarns and goods since the be-
ginning Of the year have suffered almost weekly de.
ehne; From Nottingham equally loud complaints are
heard and in staordshre and the iron districts notwh
standing the reduction the make bars sell Is lbs
o. and pigs at 81 l0 in Scotland the former ruling at
ne close Of last year at 50 per ton and the latter at e.
lower rates than whichwere then deemed beyond the
range of probability.
Our foreign re atoms present peaceable aspect and
with thing like good crops is barely possible to ina
CINE into what channels the surplus capital be made
to flows the transfer as in former years of portion
capitalists of late having shown no predilecton for
loans even to countries nearer home.
gentleman holding prominent situation in the CON-
mercial world, and who takes leading part in bank
affairs, and another Of high standing the Stock Ex
addition to pursuits of their of comforting upon
sures which is hoped may tend to restore American
credit and bring about equitable adjustment Of the
deranged monetary affairs OF that country
We insert these extracts because they throw light
the disastrous condition OF the mining and manufacturing
districts and also in regard to American credit 1t will
be observed that the idea of farther in Amer
can funds looked upon in intelligent quarters quite
out ofthe questions at the time is rmored that
gentlemen Of high Standing about come to this
country to restore affairs. This very kind Of them
doubtless but think very lightly Of such statements
for the that the ability Of the States pay and
consequently their credit depends entirely upon them
|aalxa in, Ia
efforts Of their any attempts their part
to exercise political influence but end in the
disastrous results In relation the loan of the Federal
Government the Times has the following =
"We perceive that the LoanBl for II dollars
has made material progress in Congress- and learn
that negotiations have been attempted with some leading
London capitalists to induce them to undertake the in
PRODUCTION of the stock into this market We are
rejected and that the given explicit in
stating that no encouragement could be given to Amer
can state Stock securities of kind until the State
Legislatures evinced much more wholesome principles
regarding their subsising engagements"
From these statements it appears that the prevailing
feeling in the financial and circles of England
is to lend money to the United States de.
wise method of procuring payment OF that heretofore
loaned
The person mentioned in the above extract as one who
takes leading part in the affairs the Bank Sir Hors
ly Palmer the head Of the house Of Palmer McKop and
Dent was supposed that he would have arrived in the
British Queen, but will probably in the Great
Western His object is not, however the preposterous
of attempting restore American credit but relates
exclusively 70 the interest of his house. which largely
concerned in that most deplorable wreck the North Anne
rcan Trust and Bank of which the house the
London agent 1t is always the disposition of the public
to cxaggerate the importance of such missions On the
appointment Of Lord Ashburton Minister this
try the destiny oftwo hcmisphcres supposed hang
nod. The he al ed
the appointment to favor financial operations and the
more readily as the mission being to act parade
part was diplomatic disgrace and ssIch diplomat
ist oil character would accept The unexpected occur
rences in the East, however, suddenly gave seri
cast to his negotiations but lqeer news from that
section of pacific character is again taking from
the probability of speedy settlement difficulties. As
the national interest predomnates, the monied inter
est declines What influence has thu whole had in in.
ducing the late dsgraceful legislative attack upon
efficiency of the United States Marine
The stock market very heavy to-day and prices
gave way largely. Harlem, which hm been the grea
stock for some days. fell 81 The late sudden rise is
trbuted to the purchases of distinguish led capitalist
Watts ESQ., whose just appreciation of the future mpor
lance of thu Harlem Road induced nves tments Illinois
Us fell Delaware and Hudson Long Island 4; Mo-
hawk I; Paterson per cent.
The Merchants Bank has this day d,,cared dividend
OF four per cent for the last six months payable the
LIST Of June.
When the three New Orleans banks refused to resume
with the others we expressed the opinion that they must
soon pay wind up It they preferred the
former course, and the 18th the Cit sen Louisiana
State Bank, and Consolidated Association, commenced
paying specie The following shows the liabilities and
cash assets, according to the last return, -
CASH ASSETS AND LIABILITIES Tag New ORLEANS
BANKS, APRIL 20.
-. Liabilities Gu Assets. Def ..fssets Err. ASSETS
Iity Bank l.tGo $50 SO slt,972 60 6i5s 98s IA