New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1843-03-09
MONEY MARKET.
commercial and Money Matters.


WEDNESDAY,, March g.
TIE ,rnouul OF business at the Board to day mod
rate bu. prices geserally firm. City IS improved
Ohio Gs per cent.
Foreign Exchange continues quiet. Sterling 81 81
Prancs 40 ~.
Tn. rate Mobile to-day is 10 49, letter from Mo-
M gives The quotation fer sight bills IS 10; 60 days, Is
rs NJ. cent premium. Al New.Orlsaas decline had
,ateo place Sterling par TO prem NewYerk sight =
:. discount 60 days u discount Francs Ga 70.
Ellis ofhe lancaster Co pa Bank, OF the denomination
of{5N altered from Southwark Savings Institution dated
rb IT, 1883 2 Roberts Cashier, g. f Benckert esideni
have Just made their appearance in baltimore. Nc such
sr.ons haze officers Of the Lancaster Co. Bank
The Senate OF Ohio by tie vote, have refused 10 rechar
ier The Ohio Life Insurance and Trust Company The bill
far this purpose had been first amended by striking out all
ser enactng clause and inserting bill Incorporating
Moa;ah T. wii,ns Jacob Burne, and Samuel Fosdick,
and their associates for ten years under the name they
w have under the law OF last winter regulate banking
in On o. and Tie amendments thereto OF the present session.
eh capital OF than S500C00, in shares of 500
EACH and 10 business before the first OF
September next, otherwise the ACT to be null and void
Correspondence of The n. Y. Tribune.
TALLAHAssE, Fla, Feb. D. 1945.
resolution lately passed by Direction OF the Union
Bank allowing stockholders 10 pay eft their Liabilities 10
the Bank Tor their loans stock notes in Sterling Geben
,cre endorsed by The Directors and accompanied by Ter
rorial bonds collateral 10 the amount OF the stock debt
ch Sol per cent their stock Territorial BOMBS
70 he whole amount Of their siock-tha is, 500 OF bonds
tor IS G5lOO Of STATE debtbas produced strong move
r1el Tie parI OF the stockholders 10 knock down By
every possible method the price OF the bonds, tta they may
be bought Up cleapy possible. To effect this reports
have been inustrousy Disseminated and doubt have
hen circulated with you and abroad calculated 10 alarm
holders OF BONDS no the belief et they entirely or
marty worthless while al the time they are placing
lands in NewYork for The purpose OF buying up sucb as
are hrowa upon the market at a low rate. This tact
think Should be publicly kaown in order that the motives
fer such reports shall be Ddcs ODD aad holders not be dt-
ceved by lhcm have OF toe bonds 10 trust IN my
hands, and Ct the stockholders have been very anxious
Ina, should sell, ard endeayored alarm me By state
rss that 20 could Obtained large lot having gone
bsyyne AT that rate that the price would probably
settle TO TO- The that lot had been offered at 20
,pjravored TO trace and it finally admitted that II was
III an error fad il difficult 10 form estimate OF TIE
actual value the bends, but think il is beyond doubt
the best policy creditors Of the Bank TO hold TO their
c!aius until the winding up CT :he Bank and not allow
10 be coerced by the tricks and false reports Of
The debtors OF the Bank into sacrificing their claims The
Legislature we'll disposed 10 expedite the lquida'lon o
The Bank, and believe, from what can Learn, that lar
ger dividend will be received by those who wait than those
who sell now The Bank will receive her liabilities in set
an,en of debts and of course the interest of those who
owe to drprecaie the bonds &c. Our Legislature seem
posed do every thing to secure the bondholders e1
cro paving the bonds; and think measure will be
sruca calculated secure the assets Of The Bank Tor
The following remarks the City Sinking Fund appear
in the Report o the Comptroller:
The Act OF 6:h 1872 the first act which author
nd lbe Cooperation 10 fund debt and that act pledged
tie faith Of the CITY for the redemption OF The principal
such principal to The Corporation, however,
ais It's nit on tue oh OF August, 1915 iirst organized
de nang Fund, by setting apart revenues previously
ordinary current expenditures tine Whoie reve-
nyes beng al that Time greater than The interest the
deDt) ana A2themssives 10 tax equal IN
nnr nj luypS
ing them in the OF the City, andn ie stocks OF he
Cry could not be procured at ra,g IN 'e
Sold and the proceeds applied to tue redemption OF lhe
ci,y Stocks The Mayor, Recorder Comptroller irsn'
Srrsr and Chairman of the Finance Committee were APP
nnneu The commissioners OF Sinking Fund, and power
gwen Them TO manage- Subsequent acts OF the Gomuon
Couucl have enlarged the resources OF The Fund nn
las iecomc sufficient TO absorb the whole debt OF the CITY
ca tie 1T May, 1871, the Stocks are ssteTee 10 accuu
late in ual e or " years beote .ec t o ,h IL" oe
H. nee Of June l3n, 1889, which reads as ioows ne
cy slock which a be p1 casd by l, Saia eJ by
shall De transferred to tneh ana sla! Oe ,le.u W
II, n u, redemption thereof; and the interest OF
,oe so purchased shat AZ e'Sm al , & snk
u Eunr he revenues al present pledSed 10 uie I'n"
iu TO near $OGe per year. wicn, WIN ,I
e Sock, held by The Comniss!oheis an
ne proceeds OF Real Estate that ls proposed 10 sen
years as me same Can oe Goe 600 10 @
rec honng sales OF Real Estate al s-Vo uVo PEI
g he exactly enough to pay OIL the whole Ciy Deo 'S
fthecontS Que. - It. d,r,;o,
should 1, laws be so amended as 10 allow the adopllos
81 br recommendation OF The Crotop AQueduct Board ana
,a orocers of The Croon Water be applied 10 the SINKING
nd f.ima;iro the revenue l8iS as SlOoOUV ana an
ucreas.. of per for succeeding years I'LL loo'
~ en- would the accumulation AT tiat uue
nd b. rs coo; and continuing SiouoeO as lhe maxi
rum revenue rom water until lasO, lhe peroo ol 'e
final redemption all he stock, n@euid amount, ny COM
cundng in The Sinking Fund, TO the enomouSsai VI ~.
e6Oo0; or would Sl20Oeu00 III leo4, anu tus
nav of The etire Water Debt ITSELF during Inc present
generation, subtc Them 10 an amount o! Taxation e4
10 IL! large. for The benefit OF posIsfiS' n,
bs 6ppIicaon Water Rents 10 the SINKING rhu,
camel IN, ork upon injurious To the Interests OF 'ue
nv and burtneusone 10 the axpayers II "oe!u ldi.e
sue ticr OF SOCK nuCh 10 make livery expensive w
iyee, the Accommodations Of the Sinking Fund aS tne ocp.
vul Luye 10 be redeemed before 1t vas due. IL "ou
N -ct ,he citizens addition to The tax equal 10 .e
Dnt OF the received and as we have arrived al lal
ron, When necessity oaEs te1cep temporary which
~. r,rly on&r.d) canno III my opinion, 10
ming that will the credit OF tie City al It's pre-
@ hipi standard, better than provide regularly ny lhe
,.rr and taxation, tor the interest VI e oeo' a
;,y every pos.hie gleatS, reduee taxatlon.
The sale OF S50000 10 S0u0OO per year, OF Tue iee e
o;r for successive years un'i the osp. e
s. eued as proposed by me. would give lhe Pupiie .
~ -, s ne ~ value which naturally 10 be expected,
much property, presen! almost ~orlhess, n'o
do. niathei at good prices.
markets Carefully reported for 1ae Tribune.
WEDNESDAY T. NJ.
AslEs-we hear OF nothing doing since Yesterday.
Pos .eu.a.u nominal 50; Pearls oO last sale d.
Cu'PT0N-The market continues quiet IN consequence
nooarcival OF the westera Prices are without va
r,iop hpt in such state the market holders are gen