The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1842-06-22
MONEY MARKET.


The transactions at tho Stock Board very small
this morning, and prices in most instances gave way
Harlem Ii Long Island }; Mohawk improved III Illinois
Bondsi.
At Nashville Tennessee the banks appear be taking
steps for resumption. On the 10th paper remarks fol-
lows
Eastern Exchange which has for many months ranged
from IL to IL per cent fell Monday last as. Mer-
chants who ed balances the eastward agreea
bly, surprised; and the community at large not lit
The Planters Bank has the credit of taking the lead
this prascworthy movement, and the Union and State
have the credit of being able to follow its example with
oat having had an hours warning.
We understand that something like fifty thousand dol
lars worth Of exchange furnished at these
Monday and that the market has been supplied the
terms sncc-the Merchants Insurance and
Trust Co. checking very literally
This is regarded sign ample ability and lively in
clnation the part of the banks specie pay
ments at an early day.
What singular Of affairs has hitherto existed in
this country. that merchants should be agreeably
prsed" when banks proper take less than II
cent discount their paper and that those unprin
ciped institutions should receive praise for not being
able defraud the community any longer For five years
they have exercised sovereign prerogatve suppanted
the constitutional currency with their rrcdeemable pa
per- and then altered the value Of the
the value of every mans property their will and plea
They have monopolzed exchange, and charged II
to per cent for it, in other words have charged Ii to
COP cent for redeeming those bills which they issued
promising to redeem them on demand at par And in
stead of being annhlaed this abomnable imposition
they receive praise for their magnanmy when they
sent to take less How obtuse be the intellect of
community that suffers such iniquy.
The stockholders of the Ocean Insurance Company as
well of other institutions that suffered
through the dealcations Of their officers take the
matter in very philosophical light They have been
robbed Of per cent of their property and yet supnely
look upon the after every day of
The company has President President and
of directors all mercantile men, well acquainted with the
responsibility of the Offices they hold and well versed
in to render the dealcaton that they
port to their stockholders almost incredible. The
cnprt has distracted from the company Sl53,OO0, out
of capital of S35OOOO, being "A per cent! Eight hun
dred shares of false stock issued under the genuine
signature Of the President Mr. Ogden and the fraud has
been going ten years and yet these faithful officers
seek to be relieved from all responsibility in the
Why do not the stockholders hold meeting once, and
demand without delay detailed Of the affairs
of the company and devise recovering
least part of their property They ought to wait
for gabled and my stifcd statement that may pre-
paration by the culpri who is daily migrating from
the Tomts" to Wall street. The property Of many
widow, and many an orphan, has been swallowed up in
that monstrous nquy and the cupable neglect Pre-.
sdents and Directors through which the fraud could have
alone taken place. ought not to unpublished. During
the that TINS operation been
President and Vice President have been drawing their
saariesthe former 81 900 and the latter $4,000, amount
ing in ten years to S7OOoOunder the suppositon that
they doing their duty those who paid their sala
rcs Ought not those salaries least be refunded
They surely will not plead tn they have performed their
duties. The capital of the company. instead Of being de-
fccnt would now have shown a surplus, necessarily
arising from the profitable employ for years of the
Sl53oOO that has been distracted $5s0O compound
interest for ten years. $4,000 1t that
not all taken once but the average may be FIVE
years. Have the faithful Presidents never been able
find out what amount they had to divide semi-annualy
and for what amount checks drawn by them One
hour spent at period during the ten years. in
looking the bills receivable would have detected the
fraud How did the hopeful Board of Directors ascertain
that the profits of the company would bear the heavy
penses attending the removal into the splendid building
under rent for the last years 1t
that capital of 5000 900 has had support this exrava
gance and the amount of profits taken into
sderaton by these gentry They have gone upon
the principle of "d--n all expense" and il lis no won
der that they forced into the mutual system
other humbug Do they hope to find any system that will
support reckless extravaganza unparalleled arrogance
and abominabe neglect Of business Do they imagine
that impudence will supersede skill, and presump
ton answer for assiduty Do they imagine that
Brussels carpet will their ineicicncy, or that
back paror pomposty will increase premiums There
perched high upon mountains of paper credits
that they have lost sight of that industry and rugay
which those credits supposed to be based
The following is table of the amount Of assessments
made according to the late act Of Assembly of taxable
property in the several counties of the State of Mary
Some few counties, it will be seen, have yet made
turns land also the which have been made in
to the treasury according to the provisions of the law
laying direct tax upon said assessa6ie property
De-.
suRr-i6rH JUNE, 1872
Tar paid
Arnc Arundel county 6sis0iI Is,,a
Howard District A. a. co. 3g22'7g1 1000
BALTIMORE gof7OGi1 aga
baltimore COUNTY. IA csc ,e,7
Calvcr county.
Carone county, $4,000 IA