The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1844-01-01

The Phenx Bank has declared semiannual dividend
three per cent, payable on the 9Th of january.
,ixy-four thousand dollars received at the Gus.
House, Boston, on Thursday last for duties.
The receipts Of specie at New Orleans have not been
arge this year as last, for the period.
From September LIST TO Dec. 2Oth lsa3 $229465s
~ 1912, 4,las,ae4
This shows great falling of in the receipts the pres
mt season. The cotton operators at the South have not
forwarded their produce offered it in the market at
prices that would permit purchasers consequently there
has been that demand for specie that activity in this
business would have created The shipments far al
though trAing comparatively have been principally
.ount of those representing first hands, and there has
been that want of capital that extensive and repeated
: = anges in produce require.
The Western Bank of Baltimore has declared semi.
,nua dividend Of two and a half per cent.
ihe Merchants Bank Of Baltimore has declared dvi
vi of three per cent for the last six months
The Middlesex Woollen Manufacturing Company Of
Lowell Mass have declared dividend of thirtyfve per
This is from the profits accumulated besides the
usual semi-annual dividends This Company have been
extensively engaged in the manufacture of fancy stus
for pantaloons, &C. The Jackson Manufacturing Com.
pany oil Nashua, N. H.. propose paying back to their
stockholders 500 each share and thus reduce their
capital stock
The Union Bank of Maryland, and the: Farmers and
Planters Bank of Baltimore have each declared seminar
nual dividends OF two and half per cent
The disposition create Banks in several of the large
cities of the West where exist and to revive
old broken down institutions at the South has made
self visible Financers Of the school of 1897 are the
principal movers in the business The city of Buffalo is
at present nearly destitute Of Banks, and been for
sometime past A d. Patchin Esq late of State
Bank proposes establishing Bank in that city under the
Free Banking Law. twas sometime since rumored that
H. b. Gibson Esq, of the Ontario Bank Canandaigua,
tended starting Free Bank Buffalo, but learn that
he has for the present abandoned the idea The
mens of trade for the past year Buffalo, have very
extensive and the merchants Of that city have carried
very successful business without the help of single
local bank They have almost entirely from the
Frustrated position in which the abuses Of banking
successfully performed for those interested placed that de-
voted city, and they the amount Of trade transacted in
seasonand that the first after the reaction OF
business safely protably and legitimately They
the best evidence that when trade confined to the
raj channelsBanks useless dangerous institutions
They have occuar demonstration that large operations
can be carried to successful result expeditously
without banks as with More mercantile houses may be
required to carry the commerce Of city, because
pal WILL without banks be widely distributed and
the profits arising benefit larger number Enterprsng
individuals wit h small capitals find oothod with
out being compelled to compete with houses having i'm
capitals obtained from banks, and by whose aid
seek to monopolise the movements of trade This result
would have greater effect in place like Buffalo than in
New York
1t is fact, strange important, that the largest
dpots ofproduce in the interior places where immense
amounts of the productions Of the West have accumu-
lated almost completely destitute banks and
looking the different tables Of the movements Of
Flour Wheat Pork &c. cannot but admit that the bust
in those articles has been extensively and
than before not except
ing those when banking facilities could be obtain
ed in any quantity and upon any sort Of security.
QUANTITY DESTINATION MERCHANDISE AND FuxNr.