The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1842-01-10
MONEY MARKBT,
sunday, Jan. GO p.

sunday, Jan 90 +. M.
The liabilities of the United States Bank have been
the subject Of good deal Of speculation. They have
been made the of speculation, not only
the part of those that owed the bank but the part Of
those who wished to purchase its assets. Some months
since few capitalists in Boston sent to Philadelphia to
make purchase from the United States Bank Of large
amount of Philadelphia and Reading Railroad stock
The purchase completed at So payable in the notes
Of the bank, six months credit and the stock was
resold in Boston at 70, for cash. The result Of This
transaction will be, that large amount Of the notes
will be required These notes have recently been sell
ing at As discount and efforts have been made to depress
them preparatory to closing the operation. The
amount out must be very SMALL large sums have
been absorbed by payments into the bank.
Similar operations going on in New Orleans.
When the United States Bauk purchased the Merchants
Bank at New Orleans, she owned 1900 shares OF the
Bank of Orleans On this she borrowed $50 per
of the Canal Bank make purchase money
of the Merchants Bank and recently, when the Mer-
chants Bank sold for $575 O0O this same stock
received back at the same rate, making $l25,o00;
100000 borrowed from the Exchange Bank and
500 from the City Bank the balance $25o000, was
paid in bills drawn Louisville and Cincinnati These
bills now becoming due, and there lie no means
of meeting them. They feel confident, however, in
getting them renewed The Presden. Of the Mer-
chants Bank, with the view to control the election
which took place last month in the Canal Bank sent last
summer this city, and purchased 1000 shares of
the Canal Bank stock These paid by bills drawn
his agent, in this city, at 90, l00 and 100
| days The accsptor bought the stock, transmitted
to New Orleans, when Immediately pledged TO
bank the operator thus having the of the money
four months before his bills fell dNe, besides controlling
the election The Canal Bank is understood to be
borrowing money its stock, at the rate OF forty
| cents having previously loaned fifty upon it.
At Boston, yesterday, $l00s State Fives payable in
1857, with coupons, were sold at 81
The of money inWall street, continues high. The
Banks show disposition to increase their loans On
the contrary but very small proportion Of the offerings
done. This is matter Of the highest necessity to
them while the government financial policy is open
question. The banks have moreover been severely ad
monshed during the past fall that they cannot be too
cautious in giving to the import goods
from abroad particularly when the appearance Of
the foreign markets. renders the amount to be realised
from produce very uncertain. The great staple,
cotton yet falling, and up to the latest dates there
| was prospect Of revival in demand On the pro.
ceeds Of that crop the banks at this point depend in
great for the Of meeting the demand for
bills specie TO remit abroad. fall of cent per b
makes difference Of SIS 100000, in the amount to be
drawn against this crisis when it is impossible
to obtain such amount of credit abroad, such def
cheney would be fatal To avoid the risk, curtament
to restrict imports is the only resource especially
while there proposition Of increasing the currency
Of the country by of government paper. The
currency full notwithstanding the low state to
which it is reduced The following is table Of the cir
cuaton and specie the banks of New York and those
of Massachusetts at the close of each wear -