The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1843-01-13
MONEY MARKET.

Thursday, Jan. 1915 p. M.
There was no material change in the features of the
Stock Board-New York State rs ls49 rose I; Delaware
and Hudson, Il Ohio SIS, 1861 fell per cent? Manhattan
Bank per cent; Mohawk Railroad, T.
We yesterday made remarks upon the application
OF certain brokers to be admitted into the Board The
applicants thirty in number and have organized
another Board where they intend to do business in open
Court, in the manner Of the Paris Bourse. We have re-
ceived the following communication which we insert
having before given the reasons for excluding them al
though two wrongs do not made right -
To EDITOR THE HERALD -
f5tnDEAR SIR
In your Money article of to-day you notice with appro
baton the ceilings of the Board of on the re-
port made them by the subject of the
application of some OF its members who desired adms
SION You state that the committee deny that any power
exists in them any body men, to dissolve contracts
admirable doctrine What sound morality ~ my
first EXPLANATIONS. But rejecting the matter it APP
peared to me that the practice OF the Board had al
ways been IN accordance recolec
ted been sufferer by the exercise very power
they nowdeny and discaim Some few years since they dis
solved and REGULATED the contracts made for the deve
ry OF Morris Canal Stock They declared them null and
void and by mere majority vote excused those members
VINO refused to fulfil them from forfeiture of their seats
in spite o. the provisions of their constitution and by
laws CAN'T be then that the action OF this body is
toed by personal interest is this rreconcileaby OPP
pose legislation the result high principles and sound
morality pause for reply.
New York, jan IL, ls4s
p Since writing the above Ihave learned that the
memorial was referred to committee of Ave. The chair
dissened and did not sign report Ofhe remain,nr
four two voted TO repudiate the Morris Canal
one was in Europe-the last a member M that time
but his partner was among the regulators
DR.. John peterborough has st been evicted from,
the Presidentshp of the Virginia Bank. He is one Of
those wild and unlimited credit fnanciers whose en-.
hshtened views" have brought the country to ruin
1t appears by letters transmitted to the Legislature by
Governor Thomas, that Messrs. Barring Brothers Co. of
London, and Messrs. Crommelin Sons of Amsterdam,
have made large advances of money to the credit
Maryland in Europe-relying, they state upon the
honor oil Maryland for reimbursement. These houses
are the agents through whom the bondhoders in Europe
have received their dividends and when the failed
to transmit funds to discharge these dividends the agents
paid them with their sooner than have the
dit the State sacrificed. This the system pursued
by the late National Bank in deceivng foreign capitalists
ato false confidence The U. s Bank continued fraudu.
lenty to pay the interest of the of Mississippi long
alter the state had refused to do any thing the m Ter
BY this operation many innocent people were induced
buy into then, and were then suddenly met with bold
plea of reputation.
The politicians who depend upon fuctuating name,
currency to create shortved bubble OF nm
der the smoke of which they may ride into power kee
up the idle cry that the public looking for relief
and are lin want Of regulator long AFTER the pub