The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1842-01-25

Securities, 2s7asOOO 2a,7osyOOo 900 600
Bullion, 44ll0OO 4 900 5000
The state of affairs described in the letter of lead
| ing house. as follows
LONDON, Jan. 3, ls42
The stock Of Bullion in the Bank is slowly but stead
lily increasing by the favorable position the exchange
which il is hoped they will be sbleto maintain against
the expected mporations Of grain in the Spring This
firm position contributes to somewhat greater ease in
money without change OF rate and to larger transac
tons in Coton;) in some instances at ID advance
Things are not likely now to fall back but neither are
should be carefully borne in mind by the shippers
your side We continue Of opinion that grain will come
in at lower bat not nominal duty under the present
Speculation q Law is quite premature"
The bad state of credit and want Of confidence
which has long existed here to prevail in Lon
DON The news from America in relation to the State,
stocks, had disastrous effect. In another column will
be found extract from the Bankers circular in rea
ton to the reputation doctrines preached this side
The mission Of Lord Ashburton, which announced
on the LIST of January seemed to give general sasfac
ton, and caused the stock MARKET which up to thai
time had been Dropping to become strong and buoyan
His mission was said osensibly to relate to political
affairs only, but was generally understood to relate
more particularly to pecuniary matters. The an.
nouncement of the fact in this city to-day caused
speculation to its probable object, but upon the
whole produced very little effect. In quarters it
locked upon effort to raise prices here
der to enable parties sell In other quarters vsri
conectures are entertained to the nature of tho
propositions that may be made. revival of the old
proposition that eanated from the house Of Barring Bro
hers regard to general guarantee for the
debts cannot of be entertained The them
solves unablet pay We do not find that confidence
is entertained in aspeedy settlement OF difficulties.
Although ofthe letters by the liverpool steamer
| to-day, received until after business hours,
the general effect of that ascertaned to create
buoy ancy in the Market and send prices up de-
gree material part Of the Illinois" and In.
diana" State stocks have recently been sold time"
in the anticipation ofvery unfavorable from Eu
rope consequently purchases must be made to ELL
tracts, and any arrangements should be made to
store confidence put the States improved footing
large amount Of said stocks having been laid aside by
capitalists, might anticipate an improvement. Mo
decidedly easier and avore paper has been taken
to day at 10 per cent per There is inquiry for
southern funds. Delaware & Hudson rose per cent;
Indiana dollar bonds 2l; Illinois IS II; Mohawk a.
Sales of New York States s45, at o. Bills Phila.
| dephia 81 81 Mobile Is.
5000 Used States 81 per cent stock yable 1874
interest quarterly, 95 e54 per cent.
We noticed in another column to-day, the achmen
Of cargo ofcopper FROM Lima at Boston, the property
of Richard Alsop The seizure made by the holders
Of those Planters Bank bonds protested the inst
with his endorsement The value of the cargo about
$4,000 The property of that individual is seized wher.
it be found and there doubt but the pay
of the bonds will be compelled by the Courts of
law. The process should be pursued with equal
spirit by all creditors Of the delinquent Pna
| delphis fnanciers.
| The Morris Canal Company has long been closing up
its affairs and its outstanding liabilities do not now ex
coed $4,000, and probably $4,000 of that is of bills los
and destroyed The stock Of the company owned one
fourth by the United States Bank and fourth by the
itself that public h,t
little sufferers directly from the company.
The ownership of the NAL is pending the action of
the London creditors. who hold the bonas cnrs
ny payablein 1885, for 81 26677 Mr. Cryder of London
Mr.. Perrtt, of the house of Goodhue & Co. and some
others committee in charge Of their interests and
plan is on foot, understand by which this committee
to purcha the canal in behalf ofhe London creditors
under the foreclosure of the Dutch lien upon the canal
tor $4,000 The committee have been waiting a mes
senger from London, with penary powers, who is un
dersood have arrived in the Britannia The canal as
is now, is not worth $4,000, although cost $4,000
900. Should the committee become purchasers under
force losure the State Of Indiana will lose its
rty The only way for the State Compete for the
al and may, If the experiment Of enarging the ca.
proves successful yield them profit on their outlay
The State probably has the means as it pays nothing
and tho commissioner pro TEN, in place of Mr. No
be has been raising money this market If the Lon
don creditors buy the canal at $3.50 OOO it will stand
them in s2OO0Oo0. They then place coal in this
probably a, rate which will drive out compe,
| tition and yield them handsome profit.
The Farmers and Mechanics Bank of Rochester
free bank, has failed Its condition is follows:
FARMERS AND MEoHASIcs BANK Rochester, JAM 1884,
Bond. and S %a@ sas.., 10000 , xSus-
i i,iaos and am, Mich cnna do. 600 400 400
Michigan University do 10000 1000