The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1842-06-29

Tuesday, June 2s-6 M.
The sales the Stock Board have been small to-day,
exceedingly So and prices have materially varied.
Harlem rose Stonington kentucky fell !; New
York Per cent stock sold at la per cent premium
The state of financial matters is gloomy at the present
moment. arising in some degree from the unfortunate
state of affairs in Rhode Island The fact that seven
hundred under in opposition to the consul
tued authorities of a sovereign State is not one that
should much uneasiness nation like this pu'
there many attending circumstances that give the a.
fair vast Importance In the first place may DC
the opinion concerning Gov. Dorr individually the prn
cples for which his adherents contend are righ-thaf Is
to say they such recognized by the great de-
mocratic party Of the United States Several states have
already given their to the faction in arms
and or later their must inevitably prevail
They have been drawn the head of open rebellion by
the of the charter party which, instead of
threatening should have compromised The rights and
privileges which they claim cannot be retained in this
country and must sooner later be surrendered and if
they succeed they undoubtedly WILL in putting down
the turbulent assemblage Chepache they must after
ALL yield the same points which, had they compromised in
the hrst instance would have deprived the acious of all
prctsnce for outbreak In Europe the matter must as
sumo much more formidable aspect. The financial and
political state Of the Union has been looked upon as
IN Precarious condition and now when division in
sovereign State has occurred upon principles of demo-
cratic government to an extent that requires the State
be proclaimed under martial law the enemies of Ameri
can institutions may make of the the
dctrment Of the interests Of the United statesmors cs
pecialy when the weaker party these which contend
for universal suffrage This may be additional reason
why money shoulinot be trusted with republican insti
tutions That arsocras and the agents foreign money
chargers should feel particularly erocious and cry out
"shoo them down-slay hang and drown them there is
no cause for surprise but the great people
remember that ours is government Of opinon--that
wherever serious differences arise, both parties in
some degree be wrong and therefore both ought to DO
open to conviction and compromise. The divine right
OF rulers not and when any class of people
clamor for what conceives to be its right, tho matter
should BIO investigated and if they right they should
be grahsd Turning deaf to their claims and cry
Ing out shoot them down." will this stage
Of society.
The frequent defalcations by officers of banking inst
tutons have of late reached alarming extent and
ca ior some prompt and efficient action to protect the
property OF those who place their in corporate in
stutons Our files Of Glasgow papers give us the details
Of the trial of Robert Smith, teller in the Glasgow
and Ship Bank, which institution he defrauded of Elo
600 In manner appears very similar that practced
by the ofcer of the Ocean Insurance Company in this
city The witness for the prosecution gave the following
account Of the frauds -
On examining Smiths books more carefully found an
entry ofSl 800 against Pollock, Gilmore Co. written on
ensure The remuneration had also been erased and
f7.l2o los marked. instead of E5i2O l6s On finding
these erasurss in the cash book he induced to
mine the bloter he found that the sum was
f6,l20 los; but the debit side he had marked
f7l9o lSs Witness also found two pages the botter
together-on one Lis. Of notes OF banks
gwen amounting to ESQ 00O and should have been f46
600 The difference produced by altering the first
figure in the column The entry for the Cydesdae Bank
was altered from to and that of the Western Bank IN
creased $4,000.
This will show the nature of the fraud The defence
was that it not theft, charged in the Indictment
bua breach of trust The Lord Justice however in his
charge stated that the law formerly had unsettled on
that point He stated that the duties of teller cashier
are not discretionary but specific and defined The
money OF the institution not to be taken of the pre-
misses Of the bank but to be kept in the drawer for the
or tho customers That there separate custody
the eye OF the law That received for the pur
pose of being employed the discretion Of any off,
Ger, but nothing could be done on his part without
cher or order from parties The being
so limited and clearly Defined if he the money
was theft and not merely breach of trust. The pr.
soner was found guilty of theft accordingly, and SEN
fenced to be transported fourteen years He will be sent
to Botany Bay, and be made work on the pub
lie roads We have briefly given the facts Of the
it will prove interesting to know what the English
thod of procedure in that have been alarmngy
numerous in this country. breach of trust clearly
signing away the property of an institutions through
carelessness and cupable neglect but where money
used for priv ate purposes, it is theft.
The late disastrous Are in Hamburg may make soun -
tice of the trade Of that city interesting at this momcn
Hamburg has been called city of brokers' from
the small extent Of tserrtory it has little trade OF
ITSELF Its commerce Of transit almost altogether
and depends upon the regulations and fluctuations of the
Kingdoms around it, OF late years Hamburg has increased
in commercial prosperity in consequence of the improved
state of manufacturesdn the interior of Germany pro-
ducing an increased demand for materials such as
cotton yarn indigo &C. and the great shipments of
to England which increases the export trade at the
same time the of increasing the import of raw
materials for the the manufacturers Of the INTERIOR
Tho establishment of steam vessels which have placed
Hamburg not only in communication with the great ports
OF Europe but with the centre Of Germany has also
largely contributed to the progress OF its commercial pros
perty.
The following statement Of the trade and shipping of
Hamburg made up from official returns Of that city it.
SELF The total shipping and navigation Of Hamburg du
ring the 1888 in arrivals $685. the tonnage Of
which 6o%77; in departures, $685. of the tonnage of
ss75o The arrivals and departures from and to the diff
feren countries with which trade carried on without
reference to the national quality the shipping stand in
the following proportions -