The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1843-05-12
MONEY MARKET.

Thursday, May I1-O r. Nj.
The stock market continues exceedingly active, and
prices again in advance. Ohio 6s per cent
Kentucky per cent Illinois New York rs Of ls49
t. Manhattan Bank, Ii stoningon rose IL Long Island
t; American Exchange Bank per cent Auburn and
Rochester, 4.
At the new Board the operations nearly the
in their general features.
There is great deal Of excitement in all sections of the
Union in relation to the Treasury notes said have been
cancelled The fact that Mates missing has been
known to the department nearly three fourths of year
in all which time they have been circulating with various
endorsements in the hands onnocent parties They are
to be found in all sections of the country One for $780,
No. $780, letter per cent payable to the Cashier Of
the Bank OF Commerce, was detected at Louisville Ken
lucky, on the 4th Others found at the Eastward,
and large amounts that bought in this city on
count of the Maryland banks months since, have
been returned here traced by the endorsements None
OF these notes bear the slightest trace Of having been
cancelled and they have been circulating at least six
months, with the knowledge of the department, before
they repudiated. The feeling in the community is
very strong in relation to the transaction which shout
be promptly cleared up.
In relation to Ohio stocks the Ohio Statesman" re-
marks as follows =
ohio stocks squandered so cents on the dollar is
equal to IL per cent interest," and per cent loss on the
principal During the last two years of Governor Shan
the State treasury the loans made. During Corwin
two years, more than million squandered by a
shameless system of nancierng and sacrifice OF stocks
for which the people are now taxed to pay interest Will
the people put back into power party that in two
OF equal plumber with the last would force ropuda.
ton upon Them as the only protection from starvation
The Journal of Commerce this morning has allowed
itself to be the dupe of stockholders who seek
to evade the truth, under the utterly false
and stale pretence of charging with selling Ohio's.
Tie singular MIXTURE of truth and alsehood contained in
the article Of the Journal clearly shows that the editor
has been imposed upon. 1t true that Ohio stocks
were sacrificed at so cents the dollar but it be
cause the State having pledged them to raise money
pay its January interest," failed to take them up and they
were forfeited and sold. The Fund Commissioners them
selves subsequently sold ST. Of the per cent stock
for 5000 900 cash. which is averageof 60 per cent
This latter fact concealed by the Journals informant
These sales nearly ruined the State credit The State
then to pay its work menissued scrip which Immediately
came to this market The Legislature then proposed to
issue ten per cent stock to raise money which further
alarmed its creditors In December the Commissioners
issued 5000 at so to pay debt to the banks sold
besides 60 per cent to raise $24O OO the def
cit in the interest fund, borrowed a temporary
loan, and then the stock sold to pay the oan The
State then issued cent stock for 900 viola
ton of its faith. The Journal is right in saying" two
three individuals put their heads together and bought
raise its price, but does the Journal think such
proceeding is commenable in a sovereign State z Or
because artificial rise in Ohio 6's effected to deceive
the public that that proof that the commercial affairs
the Union are out of danger, and in sight Of land
The following is a comparison between the business Of
the Canal at West Troy for the two first days of navga.
ton this year and last:-
CANAL BUSINESS AT WEST Troy. lsT AND 2D DAYS NAv-
,... CATION. 1912 AND lais. ,.