The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1845-05-31


The quotations now current are in instances
fraction less than those ruling at the departure Of the
last steamer On many of these State stocks the
mutation of interest alone should be sufficient to keep
up prices and would be if the market was in healthy
state comparison of prices current now with those
ruling at the time last year. is every thing but "a
vorablc On the soth of May, ls44 Pennsylvania SIS
were selling at 90 and prospect of the interest being
paid for years. Illinois 6s selling at 81; Kentucky
6s at LOG; Ohio 6s at 1885, Indiana at 472. Two and
half per cent interest have accumulated Kentucky
and Ohio os notwithstanding which the former only
II per cent above par and the latter is p per
below par Deduct the accumul cd interest from the
present prices and Ohio 6s wou be quoted at 90 95t
and Kentucky SIS at 9sI 9s3. e. nancal condition
OF these two States is at present very atering and we
see nothing in the prospective likely to prevent pune
tual payment of the interest their debt maturity
We cannot speak confidently Of Ohio as of Kentucky
Nbs stock, look upon the latter being as safe
and profitable an investment any security in the coun
try offers The debt Of the State only about four mil
lions of dollars and the reduced rute Of tax
alton sufficient to meet all the demands upon the Treasu
ry Kentucky has been comparatively free from the evil
effects of banking and ofth for mania extravagant inter-
nal improvements. Very little of this stock is brought
into the market and being such safe stock for invest
ments, hardly account for the low market value
compared with other per cent stocks.
Legislature Alabama
act passed providing for the liquidation of the of
fairs Of the Bank and branches recurring the nav
mcnt of onethird of all debts due the bank with interest
and all costs and charges by the first day of June 1885,
to entite the debtors to extension and additional Sc
curity must be given for the balance if required Tho
law says that shall DO the duty of tho President and
Directors Of the said bank and branch banks within hir
ty days after the LIST day of June 1885, place in suit
all notes. bills of exchange other evidences of debts
AMI upon these becoming due after the day of June
ls45, within thirty days after the same becomes DUE
which may be good reported good, unless the pro-
visions Of the extending tho be complied with;
and all other debts whether marked bad or doubtful
shall be placed in suit if the President and Directors be.
leve the can BIO collected Provided such suits do
not interfere with violate any agreement contract
made by the Banks with their debtors previous to the
passage of the act By this there is no alternative
and suits must be instituted upon all debts regarded as
good unless one-third be paid tho LIST of June We
annex statement giving the amount Of good debts as
reported by the committee =
AMOUNT or DrDrs Considered Coon, DUE THE STATE
BANK OF ALABAMA AND DnAScuEs jew Ist ls45
state BANK, tuscaloosa 81 ,336,9l4 IS
Dranch ~ Decatui; .......... l,l55,l56 03
. nuhtsviic. ..... s25, 1856 So
!. nM ohiRi '''........... l.594.795 q
'1ooio, ,S12, 1j0 80
Total. ................ 6,725, iOa n
The anxiety to close the business Of tho State Rank
and branches is great that responsible debtors will
be compelled to conform to tho requirements of the re-
cent act Of the legislature The length Of time tho affairs
ofhese banks have been in state of Liquidation the lin
tied progress made in collections justify whatever severe
the Legislature may adopt to bring matters
close Onethd othc above amounts required to be paid
the LIST June, ls45 We have doubt considerable
barassment will be Produced the debtors have without
doubt depended upon farther relief from the Legislature
and Ray not have. provided to meet the pay
ment at the time required The bank has pushed lis
debtors any faster than the Legislature compelled it to
We table exhibiting the condition Of tho bank
according to official reports from the bank committee OF
the legislature made last winter.
AssErs THE STATE BANK or ALABAMA AND DaANougs
Total amount good T.. ....... s675o,lO3
dountiui 49,. lOlv,30j
UNKNOWN. 632,I92
pau. 6,lIY,6S0
Si4ss6,97l
is estimated that about ~ 900 will be eventually
realized from this amount Of which must be paid the
circulation s2eC7sas and the university and sixteenth