The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1842-07-13
MONEY MARKET.
Tuesday, July lie p. n

Tuesuny, July 1l-O r. M
The Stock market was generally very heavy to-day
Harlem Railroad improv ed d Farmers Loan I; Mohawk
ell /; New York State rs fell I.
All State stocks very heavy. Ohio and Kentucky
stocks which in character to Massachusetts and
New York. have been offered 10 per cent under the rates
1t which the last sales made New York State 6s
selling at Of, with downward tendency. The imme-
late Of this feeling undoubtedly the state Of the
ars Of the and the exposure of the hollow
nature of the British embassy which ought of itself to be
resented additional insult to the country, notwth
'tanding that unprincipcd newspapers have out
boldly for surrenderng Great Britain all that she claims.
DO these trucking traitors imagine that they can pur-
hasc peace from grasping power by such dshonorabe
concessions or arc they prepared being smen upon
cheek to turn the other also The disputed territory
Of Maine being given the Oregon territory must fol-
ow the right OF search succeed and claims follow.
ID up by concessions until the independence of the
States is subvered altogether and Lord Ashburton
conc other titled stockobbor returns with vice regal
lowers, to exert that authority which cast off by
athers The world yet too young for such nonrssst
ng policy. The idea of settlement by interchange of
erritory is absurd. fundamental principle of the
British Government is that Englishmen denaona
.ize themselves No power therefore exists by which
aher Fredericton any other portion OF British terri
,ory can be coded to foreign power The difficulty
Exists on the part of the U. States The proposition to
ray for the land admission that it is ours already
What American will submit to be compelled to sell his
fellow citizens to foreign power, to sell their land
rom under them
The notes of the Bank Of Buffalo, which have been at
par for some time have been thrown This il in
sequence of the Controller having stopped rsdsemng
hem tAlbany-he having ascertaned that much great
amount of notes had already been presented redsmp-
ion than the books of the institution accounted for or
were certified by the Commissioners. The amount certi-
led was believe S2s5O0o and over S35OOO0 have al.
ready been redeemed has been ascertaned that over
10000 still aioat.
The following was the condition of the New Orleans
Gas Bank, July A.
Circulation of this institution INSTRUMENTATION
DennSltes, 1870 81
Specie. ................lIS4 4 Al
Locsl Bank Notes 2I49
The Bank OF Bennington exploded last year. involving
many Of our citizens in serious lss.es. That is
in the hands of N. H. Boturm and Henry Robinson,
r.sqrs as receivers. Can these gentlemen give the
of those brokers in Wall street. through whom
hese bills forced into circulation The President
Of the Bank it is stated deceived and imposed upon,
the public have nothing to do with that if the "biter
got Bit" he must abide by it, The public have right
know the parties through whom this Illegal paper
thrust upon the market i. the first instance.
We stated a few days sinc:, the Harlem company had
made an assignment Of its personal property. The nsru
other goods and ehntte assigned in consideration Of
one dollar to A. @. Thompson John Ward, and George
Barker TO the payment Of $4,000 in four equal
monthly nstalments OF $4,000 each The first payment
to take place on the 18th July instant.
The Banks of Virginia begin to think it seems that
suspension will Not be profitable TO them much longer,
and they consequently hold meeting to-day, at Rich
mond to take into consideration the expediency imme
diate resumption. This Of course will result as in all
such cases. in trial of strength between the Banks that
able to pay and those tina, unable to pay their
debts,-the strongest party will prevail The PROBABLE.
~ is that the insovens have the majority in Virginia.
The interest the debt Of the State OF Pennsylva-
MIA is due the LIST proximo and will not be paid. The
Legislature have parsed bill to the following effect TT
authorizes the Governor borrow six per cent for
years the of $4,000, pay interest falling due
in August but should he not be able to borrow the money
hen the Auditor General is authorised to issue certificates
Of State Stock be given persons entitled to interest TO
hc thereof The Governor is further authorised
o sell the stocks owned by the Commonwealth il they
bring sum which at five per cent interest would equal
he dividends on the for lsl and they cannot be
old within sixty days par then the Governor is suho
Used to exchange any Of the Bank, Bridge or Turnpike
stocks at par for certificates of State Stock at par.
This is taniamount TO failure It is not expected that
he state borrow the money and pay the stock
folders their interest due in six per cent stocks the
hing Is ridculous Inc ave per cent stoc vi inc S'a'e
selling at IS per cent equivalent or the 6per cent
took would be a. Consequently aperson holding say
5000 of per cent TO whom $1,000 Of Interests is due
would ccve stock worth but $780, which is 81 per cent
his capital of $4,000. Thus, while the State actually
epudiaes nearly aper cent II its debt its nominal ab
les are increasing the proportion Of compound interest
The matter will be an utter failure however and proba