The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1843-02-09
MONEY MARKET.
Wednesday, Feb. s-2


moderate amount of business at the Stock Board pre-
scented but little variation in rates. Ohio 6s per
cent; Delaware & Hudson declined J..
At the new Board there material change in the
face of affairs. Mechanics Banking Association declined
per cent; sales of United States Treasury sold
apremium of per cent.
Brig Bremen, from Bremen, arrived to-day, brought
$40 600 in specie.
Mobef heavy today and it isto be hoped that
the winding up Of the Banks will put end to the
fluctuations in what there called currency The col
lection OF bills and drafts that point becomes mere
gambling matter. The leading houses here have for
years been in the custom OF collecting in the southern CT
ties and settling the rate of exchange current in this
city when advice of payment is received This gives thu
othe draft the benefit of the market which of late
years has ucuaed largely and rapidly This has been
a universal custom, but there certain repudating
firms who take the difference when is in their favor
but when it goes against them demand settlement at the
rate current when the draft made When the bank
circulation withdrawn and the drafts paid in specie uni
formy the object for this dishonesty will be removed
few days since stated that currently report
ed that 10000 further defacaton had been discovered in
the New York Life and Trust Company since the FIRST
announcement and that consequence 35 per only
was offered for the ock The day the Journal of
Commerce published the following -
1t rumored in the street yesterday that further
sums had been discovered to be added the efacation OF
Mr. Nco There is, however, no foundation for the
NOR Nothing has been discovered since the report
the committee weeks ago. and there reason to
bel Ieve that any thing further will be discovered
me whererbout of Mr. NicOl also remains unknown
fro m the first
Ife redoubabe Courier and Enquirer had the follow.
ing:
~ ieres truth whatever in the report published yes
&c FAY morning in of the papers that defalca
tim 100000 had been in tho New York Life
insurance and Trust Company.
The little echoes ohese prints reiterated this assertion,
which probably published at the bidding 1.-THE "hgh
ly respectable gentlemen who have stock to SELL Yes
terday the Journal snealed out with the following &C.
acknowledgements
LIFE Trust Cove said the other day that no
further defalcatons had been discovered since the report
ofthe Committee 1t is evident however from that report
that the Committee called the deiacaon greater than
s24OO00 the sum which had been previously reported
ahsy must haze estimated il at soMstns like 600
only what remains after taking it out.
The statements published by the company have been
foows-on the Sd of January appeared the following
Resolved That from the examination of the and
Liabilities of the Company the Board satisfied and
state for the information ofhe public that any loss Which
the Company may sustain ,ci impair its capital nor
sxceee the sum Of two hundred and orty thousand dol
lars. VIM. BARI, President
The facts inferred here are that the surplus $24O
and the defacaon will exceed that Janua.
ry 10Th the following made its appearance, signed by
Msssrs. Allen, Jones, Swan, Ludlow and Brevoort -
The committees, after careful scrutiny into the pre-.
ca by the company report probable depreciation below
the nominal value OF $500, 900
that is left after allowing for the abstraction of
the late Secretary there remains the of 10000
or eleven per cent the deficiency the capital of the
institution arising from the frauds the late
and the estimated depreciation in the value assets
On the Sd of January the Boord satisfied that anu
loss would not impair the capital On the 10TH l6 days
afterwards, they had discovered, that notwithstanding
their previous sasfacton" the capital was impair.
ed IL per CT Washis owing further dis
coveres Was the first statement utterly false or were
further dealcatons to the extent of $4,000 brought
light in the succeeding sixteen days2 The value the
assets did alter materially that time 1t so short an
investigation discovered such large losses what
think of the annual relation to the
ability Of the company to declare dividends
An act has just passed the Indsna Legislature which
provides that the Treasury notes of that State bearing
per cent and those bearing per cent shall be received
for all county Dues by the collectors This includes pay
ments debts t. county Summaries school money lands
and surplus revenue. Agents receiving these
required TO dsburse the notes. The also
made receivable for Wabash and Erie Genial Lands east
Tppecanoe river As these notes received they NAV
be used to redeem the canal land certificates issued by
Williams & Fisher, by way of exchange, without inter
est
In the Mary land Legislature the Sd instant Mr. Ris
eau obtained leave to introduce bill to forecose the
mortgage on the Chesapeake and Ohio Canal and the
Tide Water Canal There three important interests
concerned in this great work. viz the State of
the Federal government and the City of Baltimore. The
States desrois OF continuing the undertaking. but can
not do without the of the two other in
terests.
The committee appointed by the Legislature of Mary.
land to examine into the Farmers Millers' Bank OF
Hagers.own report its condition follows January 49,
farmers AND MILLEns' BANK, (Mdl JAN. 1sas.
Gold 500 90
silver, 700 90
Change bex, lao On
copper, DIV estlmae, 1876 so
M Making IN all, $l725 so
Their Liabilities for notes in circulation the same day
WIS $3.50 90
Their certificates Of and deposit 5,464 81
uc., 1903 81
on demand showing deficiency Of specie means
by 70 57a "a
But there also shown the committee notes of ~ "
specie aging banks, Amounting to 2a5 M
Which, If deducted from the lcaye