The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1842-09-04
MONEY MARKET.

Saturday, Sept. 3.-6 p. Nj.
Stocks improv ed to-day. All kinds went up peg or
two above previously quoted rates There is much be-
ter feeling in the New York 5s improved
!; New York Seven Per Cents. Kentucky declined
Indiana improved Illinois / Delaware and Hud-
soni
James Van Nostrand has been elected President of the
Merchants Exchange Bank.
There has been improvement in domestic exchanges
The restoration of confidence is having its effect
Wetake the following in relation to the safety fund from
the last Albany Argus
We glad to understand that the present condition of
this fund promises something better than the
the Comptroller, published in the Argus the 18th of
July last led us then to anticipate The holders of the
bills Of the broken banks may look for earlier
dempon than the facts they existed six weeks
missed.
Then but fourteen banks and those of small capitals
had commuted availed themselves of the law which
permits the anticipation of their yearly contributions Of
the half of per their capitals in broken bank
notes at par But now twenty banks have come for
ward and voluntarily paid into the treasury
and others large capitals preparing inform
ed avail themselves the law its fullest extent
pay in at once for the whole six years.
This judcious and commendable movement the part
Of the banks already being benefcaly felt and will be
the of reinstang confidence in the Safety Fund
system. The 5000 900 taken from the market mostly
held in small sums, and by individuals who greatly
in need ofrelef what remains unredeemed principally
in large and in the hands Of those who afford
and who expect to wait for the repenhment OF the fund.-
Consequently there not much paper in the market and
what little mere il, is last disappearing.
The comptroers statement above referred to, startled
at the time with the fact that of the 81 43 49, the
amount Of the fund the LIST of April S9ls 99 had
consumed in the redemption Of the of four banks
only, leaving the entire circulation of five hanks,
amounting to 4 unredeemed exclusive of $50 900
of the Of the Bank of Buffalo, said be illegally
sued.
Butupon investigation it il nd that the fund will get
material relief in the amount be repaid by CONNER
cial Bank oil New York (sl3l73l] and in the large
amount OF available assets Of some Of the other suspended
banks-the La Fayette the Clinton the Watervliet the
Lewis County, and the Commercial Bank OF Oswego,
whose aggregate cir ulation is supposed to be about
s7oooco will not probably be ultimately charge upon
the fund
This morning received fifteen days later advices from
Europe We look upon the being very portsnt
in commercial point Of view. II be secn on refer
ence to our columns that the dstressthe starving cond
ton ofthe people in the manufacturing dstrictshas led
to serious and disastrous riots These of course caused
some agitation in the Lonon money market for time al
though the latest accounts affairs appearedmore favor
able The dsorganised Of the districts and the
sequent suspension of business expected to affect
the cotton market and lead to decne bat contrary
expectation there sprung up very fair demand and an i'm
provement in prices took place The market closed with
frmness and speedy settlement Of affairs would unques
onsbly be followed by extensiy demand for cotton at
better prices
Annexed is the weekly average the circulation OF the
United Kingdom, according TO the returns made up to
the 2ad July Is42 in comparison with the returns pre-
viously made to June o. ls42