The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1844-04-10
MONEY MARKET.
Tuesday, April a-6 p. M.


Sales Of stocks today exhibit quite an improvement
Norwich and Worcester advanced per cent; Pennsylva-
mia SIS Harlem ; Ohio SIS ; Farmers Trust Mo-
hawk 4 Canton Illinois / /; North American Trust
and Long Island closed firm at Yesterdays pricss Sen
lucky Us advanced The sales to moderate ex-
tent but generally at better prices
The Suffolk Insurance Company, Of Boston, have de-
clared semi annual dividend FIVE per cent payable
the 9th inst
The movements in the stock market indicate still far
her depression in prices. Money daily becoming more
vauabe that is the banks drawing in their loans for
purpose otherwise than preparing for their quarter
ly reports The large government loans held by several
Of the Wall street bsnksthe control Of which regulates
the money marketgives them the power Tighten de-
press the price Of money and the price of almost every
stock sold daily in the street. On the Of these
pet institutions, depends the state Of quotations, and the
activity depression of the market The ruling rates for
money in Wall street a per cent. The banks
demand fraction more and for regular discounts six
ty or ninety days obtain their rates. The loans stocks
usually made demand, giving only days grace
for payment. The danger Of call at any moment keeps
the brokers in constant excitement and in fear Of sudden
declines in quotations. Avery slight panic would destroy
the small margin left by the late falling of in almost
every description The present depression in the market
has continued long, and prices have reached SO lew
point that the banks have made up their
turns, reasonably look LOT an
stock market and an advance of all securities. Money
will undoubtedly be worth more during the hurry
of business, than it has been through the winter
The opening the canal will enable immense quantities
produce reach market which advances will be
qured and which will find employment for large amount
Of capital heretofore laying idle, used in stock spe-
cuations. Millions OF dollars will be absorbed in this
way and pass into circulation through the interior,
most of which will eventually find its way back for the
purchase of merchandise and for the regulation Of
changes. The moment the bulk of the vast amount Of
produce in the interior begins to towards the
board the money market in this and other large cities
will tighten and the Of interest advance This will
in return produce legitimate state of trade and in
a measure do away with the symptoms Of speculation
that have from time to time made their appearance Most
Of the staple productions of the country command good
remunerating prices and far the supplies have
ponded with the demand The flour and provision trade
is unusually active with large stocks Of articles that
under the latter head and increasing receipts from
the south The opening Of the canals Of this State WILL
doubtless largely the supplies of -four and grain
The present stock Of flour in first hands quite small for
the season. With the demand that usually exists the
opening Of navigation will require heavy receipts to
keep up the stock and supply the demand. All these
things will find legitimate employment for capital, and it
will be used to develcpe and bring out the true wealth
and Of tho country Instead creating fictitious
values to fancy stccls, and nstigang speculation in
worthless securities running all who drawn into the
whirlpool Of excitement produced by the that
SO skilully managed by the bulls Of Wall street.
The meeting Of the stockholders Of the Merchants Ex-
change was privately held in the Directors of the
Merchants Bank instead OF in the Exchange rs noticed
II appears that several judgments against the Company
will soon reach maturity amounting to about $40 900.
One of 900 falls due in few days The meeting
called provide for the of these demands the
funds for which TO be raised by subscription, each
stakeholder giving what he peases house subscribed
S3OOO and the whole raised reached about 900
On the payment Of these judgments, the bonds of the
Company will be extended several years It supposed
the Company will eventually make such arrangements
with their creditors, that with the reduction in the
rate OF interest," and the Improvement in the receipts from
rents they will again obtain possession Of the building
The receipts Of specie at New Orleans on the 3st ut
amounted to $40 Os3 of which Si,2ls were from New
York.
An injunction has been regularly served upon the AZ
sgnee of the Union Bank Mississippi cnjoning and re-
sanng them FROM collection of any debts or claims
due that institution until the supendng in the Circuit
Court of Kinds County shall be finally determined An
Injunction has also been issued against the Commercial
Bank of Natchez Miss and legally served the lih
ut These decided steps will bring these banks to bear
ing and in winding them up speedily as possible
| for the interest Of the Stockholders