The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1842-04-06
MONEY MARKET.

tuesday, April 80 F. M.
The stock market rather heavy to-day, and
prices gave way. Delaware & Hudson fell I Indiana
SIS, per cent Long Island, Mohawk, Illinois e's
rosei.
sale Of $1,000 United States per cent stock, redeem
able in lS44 made at 95 equal to interest of "a
per cent per an mum.
Failures continue take place daily among the large
dry goods houses and merchandise is very cheap This
is the natural operation Of the breaking up of the credit
system The produce of the farmers under the double
operation Of increasing supplies and the breaking down
of the banks has long found the specie level and
merchandise Of all kinds il rapidly following and
will continue to do 50 in spite Of all the camors of the
advocates of tariff and taxation.
We learn from New Orleans that the Exchange Or
leans and Atchaaaya Banks have been closed by writs
of sequestration issued by the District Court appca
ton of the Attorney General The Improvement and
Merchants Banks go into liquidation Immediately
There upon the market duplicate issues Of the
bonds of the State of Indiana, which have been out
nearly two years. Certain brokers in order to affect pr
ces making clamor through Wall street pa
per about them, if thing, in order to affect
prices In 1888 the Morris Canal Company received from
the State of sterling bonds to be exchanged for
others held in London, which exchange was not made
nor were the bonds returned to the State In 1889
$4,000 sterling bills issued to the company
to be used in the payment of the interest due January
ls4O This was not done but the bonds appropriated to
other purposes In the latter part Of $780, the commits
sioners in making settlement with the company insisted
upon the immediate return of the bonds This demand
the President evaded but said he had sold the
Mr. Beers and received for them certificates Of deposie
OF the North American Trust and Banking Company,
which certificates made to the commissioner
but we believe have never been paid by the company.
The preence for retaining the 100000 of duplicate
bonds that money had been raised upon them for the
Of the State Of Indiana but the President said he
sidered himself bound to return the bonds These
the bonds-which are now upon the market, numbered
from 70 to 1000 inclusive These bonds and others form
amount of s42saooo, that will be acknowledg
ed paid by the State, except far anything may be
realized from the securities, which will be next 10
thing ALL Some indication of the determination the
State in regard to the bonds may be found in the fact
that call was made upon the commissioners for the
beers Of the bonds situated and to be found
The Goth page of the report of the investigating commit
tee. Also the law authorizing the eburgh and
Indianapolis Railroad to its debt to the State bonds
directs is to be in the bonds for which full
has been made Also the law authorsnG the sale of the
public works for boads exemptshose included in the
suspended debt clearly sho that there is intention
Of acknowledging the existence of those bonds.
The following is a statement of the situation of the
scrip issues by the State Of Indiana -
INDIANA STATE SCRIP.
ed, si,5oO.Ooo
State Ile.sury, and de stroyed IN is4i,Er
And there will be received and destroyed
this year. ls4a, for taxes Of ls4l, about 100000
-- 45O,oO0