The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1842-05-11
For FARMERS BANK OF. ORLEANS.


1000 Indiana ,perc cent" 1852 1852 CIaJ iTS. 20 20,
5000 1863, Thos. W. Thore, ir. 1919
1000 Arkansas ST. sr 'f Tss.rs SS' B.s Sss'o Little
90" AFt u1 1851, N. Mi,hsIG Tann.ns ~,
Staten IsLAsp BAsx.
''o0' Indiana o. wA,a,scro lsG BAsN Withdrawn
zee Ne" York per gents 49, 49, ba af%i
The Arkansas bond sold Of those issued to the
Real Estate Bank which has failed. The balance with
drawn issued the institution The stocks the
sale ofwhch is postponed, deposited with J. Palmer,
Esq. at the Merchants Bank to be disposed Of The New
York per stocks brought per cent higher than
sale at the Board, and quite in demand. The
broker who bought the first lot of Indiana 20 refused
give that price the board before the SALE This price
of for five per stock, rcdeemable in 1853 gives
yearly interest of per The last sale of the State
6pcr cents co. which gives yearly interest of 65
per cent besides the bonus of 10 per cent be received
the end of20 This security undoubtedly superior
that of the federal government, and is every way
desirable and yet certain unprncpled prints hesitate
publish that titled stock obber has taken 50 of
the United States per cents at par speculation.
At annual meeting the stockholders Bank
Kentucky held the ID Of May, series of resolutions
passed that worthy othe practice OF the
raj Of them
Resolved That the immense losses SUSTAINED by the
community and individuals from the mismanagemcnt of
Banks mperiousy require that stockholders should
increased vigilance in the superintendent of their
rights and interests
Resolved That the cheapness of living the reduction
rents and hires and the general of the times de-
mand corresponding reduction OF salaries and expenses
and the discharge of officers whose services be dis
pensei with consistently with the proper performance Of
the business of the institution.
Resolved, That the just CLAIM, of this Bank the
Schuykl Bank Of Philadelphia account OF the gross
fraud Of that institution this shameully persisted
in, should be diligently prosecuted but without the
ploy ment OF supcrnumerary corps oflawyers.
Resolved That loans of large amounts to individuals
are njudcious and do not duse the benefits OF the nst
tuition amongst all classes of the people.
Resolved, That the resumption of specie payments
which TO take place on the 18th day Of Jnnr next be
accompanied by liberal and judcious expansion
the safety Of the institution and the cooperation of the
other Banking Institutions Of this will Justify; and
that the President of the Bank be directed to correspond
with the Presidents of other Banking Institutions in the
the country
On motion of Dr. JOS Manning the resolution hereto
fore adopted by the stockholders the 9Th Of May iS40
nsructng the directors not to declare any dividends
til the claims arising from the fraudulent of stock by
the agency Of the schuylkl Bank finally adjusted
was repealed.
We recently made some remarks on the probable state
Of commercial affairs in England in connection with their
influence upon business here. In looking narrowly
into the position Of things it becomes evident that
return Of commercial activity is not likely to be simula
ted by any sudden application of the banking power.
ordinary times when great and radical change affecting
the standing of all classes of society is going on small
fluctuations in the paper currency have very sensible
effect upon the currents of trade At such time an a..
mount like that recently made by the Bank of England
reducing the rate of interest to per cent would have
parted buoyancy to every channel Of trade and havo
materially influenced our markets because it would
have put money at cheap rate into tho hands OF entcrpr
sing who would have been backward in availng
themselves Of the low prices of produce. But at
moment when is proposed the removal of
of the elements Of high prices in England the
advantages offered do not tempt people to until the
effects Of the movement can be readily defined
The grea! evil under which England has been laborng
for the last three years has been falling OIL in the vent
for her fabrics simultaneous with the necessity Of large
imports OF from abroad These facts have forced
upon the Bank of England exceedingly astringent
course of conduct to enable her maintain payments
in COIN and this she has done with the utmost difficulty
the operation being to prevent imports and induce
by iorcbly reducing prices By keeping prices down. she
has succeeded in keeping her position but is yet
condition to increase the currency The following
table Of the currency OF England for the last year -
p. E,-u,