The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1843-05-03
MONEY MARKET.

Tuesday, May 2-6 p. M.
The movements at the stock board not large to-
day. and prices heavy Ohios closed better than yester
day; Kentucky Sales Illinois %; New York 5rs 1851
per cent; City rs. !; Long Island fell Ii Mohawk
rose I; Harlem fell /.
At the Board the business also small Prices
fuctuated good DEAL
The packet ship Rochester arrived yesterday from Lii
verpool, brought specie to the amount Of $4,000.
The preparations Of the to meet the $sOo0
600 of Treasury which spread the face
of the Union will doubtless produce temporary search
ty of money. There in the Treasury 81 100000
received from customs 81 in the last month, and
other large portion Of that is in the
vaults Of the banks and has been loaned CALL There
is be collected from other during the next sixty
days. So 600 900 more, either per cent stock, or
of such denominations will be best available Money
will become scarce while these treasury notes col
lecting for payment and the money accommodating 10
pay them After that. the funds will again seek employ.
ment.
The returns OF Treasury Notes the inst present.
the following results -
TREASURY Morris oyr,TASDsc..,
issue: .q$e. aeg,or JAM Ssss7ss Ssssei ssss
$:;::$: ~; .,ai sss;
Grand total osu.andns sIle5ssg7 lsssss7 Il,sss cs
700 arrived at New Orleans, from New York, on
the oath ult.
In another column will be found the notice of Messr
Oakley and Ryan, Commissioners of lllinsis, calling
general meeting of the holders of the bonds scrip
the State, at the Aston House, the 10th inst at4PM
where books will be opened for subscriptions the
loan under the canal law.
The sixty days required by the Ohio law during which
bids to be received for the per stock,
pres the 18th inst At the end of that time unless
bids made at par for the stock the commissioners
to give it par the contractors Their ability hol
them may be judged of from the folio wing extract of
letter from John Brough auditor of the State and in
this city dated Nov ls42 It'll reference to the ten
per cent stock proposed at the extra session -
"AuprToR STATES OFFICE
COLUMBUS, Nov. Q, 1912,
"From this you will observe that the loan was a do
nestle character and became necessary from the
pay and the pledge against the increase of foreign
debt which had given stockholders the other.
Even the sel6shness Of brokers and spectators in
stocks" will argue that the State authorities should
people the of their hard and honest toll and
II not what would the fruitful ingenuity Of this
class have prescribed remedy Had Oent into the
foreign market "on the best terms practicable" they
would have reproached with breach Of plighed faith
Had given bonds bearing interest pay.
able in New York. they would have gene into the market
IN tss s@n and produced the very 20
injustice far practicable was proposed to appeal
to our own people an as an nducement to them to lend
L
to pay interest exceeding ten per cent" Whilst in
order prevent, if possible any injurious effect Of this
loan upon foreign stock was made to do
nestle character with interest pay able and interest
irpbursable the State Treasury How you, how
can you by possibility be much injured by this
that you propose, OF giving our bonds to
ditors with interest and principal reimbursabe
in New York, Whit they from their very necessities will
be compelled to force them upon e markef and reduce
the price still lower than at PRESENT. The latter would
be the interest of the State for the sacrifice scouid thereby
be transferred from her own to the pockets Of her creditors.
|
[signedl John BRoUGH,
auditor OF State"
The original Of this letter possession and may
be The appeal to citizens of Ohio not
full but the act committedthe State faith vio-
lated. The Legislature refused to levya tax, and the
commissioners here to "transfer the sacrifice
from her to the pockets of her credors IL nothing
could be borrowed in Ohio last yesri the wants OF the
| contractors great as represented-how much
greater must they be now, when six months more has
elapsed without pay Does any one believe that after the
citizens OF Ohio have languished year fer bread that
they have earned after their fellow citizens have refused
TO lend the State dollar to pay for their aboraer the
refused pass tax law and violated its faith
to its foreign creditors that they really intend in good
faith voluntarily impose tax to pay interest The de-
sct last ear was OOhe tells have this year been
twenty per cent and the debt has been increased
some millions The deficit for ls43 be $780,
0oo
CoIlo no las Geor