The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1842-09-20
MONEY MARKET.

Monday, Sept. 1916 p. M.
The business at the stock board very limited to-day
State bonds were generally better Ohio 6's rose Har
lem fell I, Mohawk !, Long Island 1.
When Sas NJ. Stilwe} went ont from here in the Bri.
fish Queen, for Europe reported that he had des
patches connected with the Treasury Department In
to this statement the Madsonian Of the 18th
August contained the folIowing:-
We are authorized to give unqualified denial Of the
report SO confidently stated in the foregoing paragraph
Mr. Siiweii bears no dispatches is entrusted Nth
any business from the Treasury Department.
Gentlemen now in this city arrived in the Great West
ern Mr.. stlwell in Amsterdam, and were present
when he exhibited credentials from the department rea-
tive to the loan It is wonder that all circumstances
dscred and reputation considered that the department
was ashamed of acknowledging a connection with the
author of the Bankrupt land of the first accept
its provisions 1t appears however that utter i'll
attends the mission Mr.. Robinson, of the agents.
recreatng at BadenBaden and the other is said be
locking after more pleasing, if not profitable
speculation.
Some commotion created in the New Orleans
nex market the 10th ns consequence Of decision
in the City Court adverse to the legality Of the ordinance
of the Municipality the 2lst June last imposing
import and export duty produce and merchandise in
the form of wharfage tax The decision by Thos.
J. Cooley. senior Judge, as follows:-
Upon the whole. therefore, OF opinion that the
ordinance passed by the Municipality No 2, the 2st
June S42 approx ed on the Esd of the month";
IN vioston of the Constitution Of the United States
far imposes duty tax exports from the limits
of the said municipality.
The object of the tax to redeem the notes of the
municipality in circulation, and which forms the chei
circulation of the city OF New Orleans. This decision
therefore, caused panic in those notes. and they fell to
twenty per cent discount causing great loss to the public
and disturbance in the money market by which business
is retarded and prices unsettled The constant fucuaton
in those vile city shnplasers has already cost the poorer
class of citizens in New Orleans money than the
face of the whole ISSUE besides banshng coin and the
bills Of specie paying banks from circulation. Were
not for the abomnabe Legislation currency matters in
Louisiana the business of that section would rapidly i'm
prove Specie is flowing there from all quarters,
particularly from this city $4,000 in specie arrived
there the 10th inst in the ship st Mary hence the
City Bank Probably $4,000 have arrived there from
all quarters since the dscred Of the insolvent banks
and the will increase the business of the
crop increases the cash basis Yet the effort Of
the Legislators be to check trade and to perpetu
ate deprecated paper currency.
We recently called for statement Of the Bank Of Ben
nington Vermont. The Receivers have made
port of the assets and liabilities of the institution and
lodged the in the County Clerks Office From the
report of the receipts Bank Of Bennington appears
that there the Bank in debts which they consider
good the of 1874 Oh debts which they conside
doubtful the of Sill 500 79 and the debts which they
consider bad the of $ls7a 49, will appear from the
e.