The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1842-02-06
nauS &n MAukk q. A..

l ONSH MA0Anr.
saturday, Feb. Sc r. M.
The sales at the Stock Board to-day have been TO o
fair extent and prices have generally given way De
lawsre Hudson fell per cent, Illinois 6st Harlem
Indiana IS rose I, Mohawk II, Long lssud Sales OF
bills Philadelphia 81 81 Baltimore >, Mobile IA
United States per cent Treasury Notes. 4per cen,
| discount
meeting Of the creditors of the Commercial Bank ID
to be held the iah inst when dividend Of 80 per
| will be made all claims against the institution.
The march of events in New Orleans il such to
lead the belief that the late CINCINNATI are
about be re-enacted in thar city Bank corruption
reached degree Of audacy that 10 to be feared will
not much longer be tolerated by the people. Hitherto
the community has looked with anxious expectation for
some the part Of the Legslatureto render
them justice. Iii however becoming too evident that
the debts due by the Legislators themselves to the
Banks are too large permit Of any SETON contrary to
the will Of the banks 1.-THE Legislature adjourn with
out compelling resumption, outburs Of popular in
dignation be expected Immense failures have
Gently taken plsce New Orleans and the river Cities
arising from the great fall the prices Of western pro-
ducs which have caused the bankruptcy of half Of
the commission merchant by leaving uncovered their
advances to the dealers and planters The
sdent Of the Commercial Bank and half Of the d.
rectors have gone down among other houses
followed by Of the river cities The losses
by these failures fall upon the banks and concealed
under the cloak of suspension The clilues Of indv
duals that control the institutions alone derive any be-
NETT from them. The Merohsnts Bank 10 an instance
That institution has for two years not discounted one
dollar, except for E. Yorke and J. Mnturne That in.
sttution will be remembered, sold by the United
States Bank under the direction Of Lppincott Co, to
E. Yoke, nephew of Lippucon, and J. Minturne for
mn M honL hol In
Of sale, $sss, 900 in specie, according to the
terms Of its charter, which prescribe that
the institution shall always have on hand onethird
OF its capital in specie. This specie pledged with
the institution for loans wherewth to pay for the pur
chase Among the assets $500 shares the Canal
Bank of New Orleans. These pledged with the
Canal Bank for loan at 50 on the dollar amount
ing to $Ils0o0 The balance drawn on two Cincin
natl banks. The drafts drawn by Taylor, Gard.
ner Co., endorsed by Adams Whitall, and Charles
A. Jacob. Adams is the President Of the Union Bank.
and Jacobs the directors, and that institution
discounted the bills which have been and will be re-
newed sd infnitum These means of raising money TO
buy the Merchants Bank may be summed up a.
Discounted by Merchants Bank on pledge
Of specie in it, ewn vaults. $sss,e 900
:" Canal Bank on pledge Of it,
own stock, "a 90 shares ...,... rs Ono
"Uaion Bank, Cincinnati, drafts. -. IN 90
1915
The discounts at these banks renewed and renew
able every 90 days, by paying the interest The Mer
chants Bank notes. and discounts ell ts demo-
sites to Yorke and Mnurne. This pretty GOOD sam
pie of banking in New Orleans. The City Bank under
the direction of Samuel Peters, who has well earned
the sssbrs Of" the Biddle Of the South has issued an
edict orbiddng any ockholder even director Of ,h
institution from seeing the stock book in New Orleso,
or in this city We apprehend chat high time for n.
stockholders to hold meeting ana intimate to tbs
southern Bddlso that il time for him 70 resum. =,
evscuate New Orleans being the head quarters Of ths
great ssple cotton il ofthe highest importance 10 IN.
whole Union that financial affairs that quarter shsula
| be conducted at least with common honesty l,~
The following 10 the return Of the Treasury Dsusrt-
meat to the LIST ns showing the amount Of Treasury
Notes redeemed and outstanding =
RAruRN TREAsvRr NorEs FEsauARr l. 1851 AZ con-
,AsEp WITH .,A. !ASuA;Y l, AND DEcENsEas .. is4i
sued under he yroy,.icY Of
en- 81. '::s 81 .
E.: :: !; s :
Grand ' $3.50; :s ;:si' :::.:
From this return appears that there has been redeem.
ed and returned upon the treasury during the month
January, the folio wing amount Of notes
Old issues. .....................$ sss III
Issues Of Feb, 1871. 4s07S7
Total returned. $sI4534
New notes paid out..,... :. ..... ts5 $50
Increase outstanding Treasury Notes.. $a4s 7o4
The unpaid claims upon the Government may be estua
ted a. follows The monthly expenses are sasoo ooo
the Treasury Notes paid have mostly in redemp
ton for others falling DUE On the Of January lsla
there was deficiency Of 100000. The account will
then stand as follows
Monthly expense. .....................S5 $500 600
$500 0Oe
Paid by treasury Notes. 10000
Total unpaid claims upon the Government
large portion Of these claims were Psid the LIST
by issues Of the newly authorized emission Of Trea