The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1844-03-28
MONEY MARKET.
Wedn esday, March 27-6 p. Nj.

MONEY MARKET.
Wednesday, March ais r. Nj.
The stock market to-day exhibited increased depres
sion The sales quite moderate Canton declined
per cent, Mohawk /, Harlem l, Norwich B. Indiana t,
illinois t. Farmers Trust 3 vicksburg North American
Trust Paterson improved per cent stonington };
Long Island. Ohio 6's, Pennsylvania 5s, closed firm at
yesterdays prices There sales ofKentucky 6s
Western Rail Road offered at g. but the asking price
was 81. Movements in Wall street show considerable
anxiety in relation to the result of the Texas and Oregon
questions The effect the public mind the agitation of
the subject of annexation produces must any per-
manent advance in securities until something deci
ded makes its appearance.
The Caledonia at Boston, from Liverpool brought out
$lsO,0O0 in specie
The receipts of specie at New Orleans the 18th inst
amounted to f447 making the total amount received
for the IS, los ,96s.
The money market is becoming little tighter. The
banks advanced the of interest discounts but
it can obtained in the street less price than offered
by the banks The quarterly report OF the banks OF this
along again in about four weeks, and they
begin put their houses in order to go through the ope
ration The loans stocks yet large but loans
Of this description placed the books of the banks as
discounts, consequently they mingled with their
regular loans appears in the returns though the
appropriated 10 stock operations was compare
lively small.
One dollar bills purporing be the farmers Bank
of MorylanA. at Annapolis are in circulation The gene
raj appearance Of tho 10 good and well calculated to
deceive.
The Boston Money Market during the past week has
experienced the same fluctuations that have charac-
tersed this. An Improvement is noticed in nearly all
descriptions Sales of Western Railroad at 63t Reading
22A; Norwich 371 For Lowell "a advance offered
Maine a; Concord % Fitchburg IL; Worcester 10;
Eastern Auburn and Rochester Portland is held at
SO, and Charlestown Branch at 7s4.
The waltham Manufacturing Company have declared
dividend of $40 per share of $3.50 few shares Of the
Merrimack Company sold at 80 a 3l-a fall of per
cent Manufacturing stocks generally rather quiet
The attention Of Eastern capitalists turned principally
railroad investments, and they continually propo
sing routes or improving those in operation.
The amendments the constitution of this state rela-
tive the state debt and liability, they passed the
House of Assembly have been also passed by the Senate
diss.
The decision Of the Vice Chancellor in relation
of the trusts of the No. tn American Trust and Banking
ompany, known the Talmage and Noyes Trust will
have very important influence the vane of the
original stock of that company part of his decision
annuls the advantages of another The foundation of this
decision rests upon single fact and that il the e
gay of making the trust to parties unauthorized by law
The Free Banking law only authorizes the deposit of
curities with the Comptroller for which they to
rites with the Comptroller they made other trusts and
instead OF notes payable demand they were made pay
able time Although the officers of the Company say
they did not intend to give effect to the circulation Of
these notes. still they responsible for the mischief
which might ensue, if they did not guard against the
abuse OF the law limiting the circulation Of them TO per-
willing to take them security take them in pay
ment and who might take them with special endorse.
The special endorsement would take from these
notes of n
by prevent the imitation OF the currency which the law
creating the institution wisely prohibited Various legal
methods might have been adopted to have made loans,
but the course taken Immediately under the re-
strainng act of the law The circulation Of post notes.
through this State is expressly prohibited by Legislative
enactment and for the rigid observance Of the law,
it Ia declared that violation is misdemeanor subject to
| fine and imprisonment
The object Of the bill in this is to set aside trust
deed assignment purportng to have been made by
behalf the Nerth American Trust and Banking CON-
pany the 18th of December s4O. to the defendants to
the payment of eight hundred post notes, amount
ing $500 four hundred of the notes being for $500
EACH and four hundred for $1,000 each. At the loot oil
each memorandum stating that "the payment oil
this obligation with Others amounting in the aggregate To
$500 OoO is guaranteed by the transfer Of securities es
mated at $500 600 under deed of trust executed between
the Company and Henry Yates, Thomas g Talmage, and
William Curtis Noyes trustees bearing even date here
WITH
The conclusion the issuing OF these notes was
Illegal and expressly against the law regulating the bust
ness of banking in this State and that an injunction be
placed upon the property held in trust for the benefit Of
the stockholders Of the Bank The Chancellor in this do
does not state the holders of these notes cannot
he allow cd 10 stand creditors of the bank but says that
II NAV be that an bonafde holders, they may be allowed
10 hold the same position other honest creditors in the
closing M of the affairs of the bank The decision
oarng this trust may be used precedent in all Others
hut we do not that any material benefit can
arise from such disposal of the subject, II the
holders of the post notes allowed to come
in on a par with other creditors Of the institution
The securities transferred estimated to be worth
about the of the post notes issued These sccur
ties have deprecated great deal in value since hey
transferred while the face Of the notes remains m
altered. The same value is represented on the oi'S n"
when they were issued The whole thing no" n'"s'
upon this Are the holders oil post ho'es
legal creditors of the company ~ they come IN WIN
other bill holders-ii they come In on par WIN VI"
tors we cannot perceive that the sockho'ne's '
slightest benefit from the decision OF the wee ohaceo
This s,ock fell of in Wall street to-day aud safes 10 sumo
x,on, were made The final winding up Of TINS insu'u
, 4; rrea, ,vav off, and in the meantime the asse's'
no :, the hands Of many individuals, WILL oy uepe
o,;on In whine and extravaganza In USE become o"'
d,sl down 10 very small amount, and the prooao' -
Judging from former Of similar nature tha' '"t