The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1842-01-24
MONEY MARKET
sunday, Jan. 23-6 p. NJ.

sunday, Jan. 23-6 r. NJ.
The long expected news from Europe has reached
in part but it is Of much satisfactory nature than
any which we have received for long time.
The London money market was easy, fro the
payment of the January di~i enl and the stock ket
generally was buoyant The from this side au.
sed less excitement than ticipated from the fact
that it was in degree looked for. The feeling
apparently allayed by the announcement that Lord
Ashburon, the head Of the house of Barring Brothers
was appointed special minister to this country avow.
edy to settle the political differences. His we'll known
extensive American connections to have engen.
dered the belefthst his influence would bring about
settlement OF the existing pecun:ary difficulties also
A. those difficulties, no wever, consist mostly in ina
bilty TO pay at present. the only alternative is
else patience.
In the manufacturing districts there i'm.
provement in business. but prices had not advanced
materially. An impro we'd demand for cotton had sprung
up which, although freely met had caused improve
ment in prices Expectation to have been enter
tanned of large orders from this side and which APP
prehend will be disspponted On the whole the
is good nasmuch the fears entertained have been
realised The accounts that have reached thus far
are, however, very mcagre Full files may reach us
to morow.
Vigorous resolutions have been adopted in the Ten
House Of The first resolution is
declaraton Of forfeiture OF the charters of the Stock
Banks-the second directs scrae facas against the
Union and Planters INKS the third directs scirse
facias agans. the Memphis Bank fourth au,horses
the Attorney General of the state and solicitor for the
Eleventh (Memphis) Circuit to stay proceedings prov
ded the Stock Banks resume payment bona 6ie on or
before the LIST July; otherwise to prosecute the writ
against the delinquent banks to final judgmcntthe fifth
directs the Bank of Tennessee and Branches resume
when all the Stock Banks and TO continue spe
Gle payments SO long as they continue to pay.
The report ofthe Comptroller, for a copy OF which We
indebted to L. O'Sulvan Esq. the merb Der from
New York. states, in regard to the Free Banking Law
that since the last report rs banks have failed Since his
report two others the Clinton Bank and the Farmers
Bank Of Orleans have failed aSng % within the year
There ~ banks in operation, Of which great
many in process Of liquidation and Of them
in promising condition The only institution which
in any degce the expectation Of its sockhold
the Bank OF Commerce, in this city and even that
is at discount Of 6 per cent and its bills not cover
cd with security by Ia per cen. Ofthe other banks in
This city the u. 9. Bank has ceased doing business
The New York anking Company is winding up. The
American Exchange Bank has sustained severe losses
has circulation Of $3.50 value Of only
$4,000 Of socksmaking the bills worth but about 70
censs on the dollar. The Mechanics Banking Assoca
ton has not only been badly managed bu. a portion OF
its bonds and mortgages process OF litigation The
following is table Of the Banks yet in operation with
nominal value Of the stocks and mortgages pledged