The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1846-09-02
MONEY MARKET.
Tuesday, Sept. Id p. M.

Tuesday, Sept. l-6 r. M.
Notwithstanding the favorable advices from Mexico.
and the probable speedy settlement of difficulties
with that government there decline in the stock
market. Harlem fell of y per cent Norwich and Wor
cester 4 Reading x ; Long ISLAND aud Morris Canal
left off yesterdays prices The sales not large,
and attribute the decline to the fact that the accounts
alluded to above not generally believed the way
they first to hand being very unsatisfactory. Ifits
confirmed, there must be immediate improvement in
the stock markct and il it results anticipated there
will be one great of the present depression
moved
The books for subscription to the capital stock of the
Hudson River Railroad were opened to-day, at No.
Wall street.
The Canal Bank of Albany has declared dividend of
three per cent
The Girard Bank Of Philadelphia, resumed business
few days since, in its banking house in that city, upon
available capital of about hundred thousand dol
lars with the annexed board of directors.
BoAnp OF DIRIcrons-GIRARp BANK, PHI ApELrHIA.
J Bingham, VIM. NJ. Muzzey,
James Harper, John O. Whelan,
w IL Reid, r. Lukens,
Thomas Priche.t. A. H. Julian,
w. NJ. Han sell.
Those acquainted with the business of Philader
phia will that the board is composed of some of the
best merchants of that city Six of the board are extern
Of the boird throughout is such to give the public
great confidence in the institution which they pre-
side The vicssitudes this bank has passed through
the mmsnse losses has experienced in its capitol and
in its other asseshe rapid the value of
its propery-snd tho immense of its liabilities
which have in nearly every instance been paid full
guarantee favorable resultn the liquidation of its
remaining liabilities, and favorable resumption
business Than its sanguine friends have anticipated
his With ilahla on;.a Of
hundred thousand dollars and assets varying in value
from three five millions of dollars does so under
auspices the most fattering 1t will be much easier to
realize on the remaining assets when the bank in &C
tive operation than when it in the hands of
The debtors of bank well those of individual
do not make that effort pay up, when that bank or
that individual is in state of suspension when their
creditors are engaged in active business. The Grard
Bauk will have much greater facilities for the collection
OF its assets and for the settlem Of claims now than
it has eveApossessed and have doubt the direc-
tors will realize much larger from their assets
tn the trustees would under the most favorable circum
stanc In making this assertion, do not wi, be
understood as detaciing ota from the credit due the
trustees for their successful management Of the affairs
Of The company think they aLe entitled to he
thanks Of the stockholders but the position he bourd OF
directors occupies, gives them much greater facilities
for realizing the bank than the trustees
enjoyed. ef
Tie originate capital Of the Grard Bank was five mil.
ons of dollars composed of hundred shares
OF fifty dollars each. In the liquidation of the affairs of
the bank, since its suspension. the into
possession Of thirty thousand shares leaving aoat
sxyfve thousand shares the market value of which, at
the time, about dollars per share repre-
senting at this rate, capital of hundred and fifty
thousand dollars There is very little doubt but that
much larger than this will be realized out of the as
sets of the bank Independent of the cash and available
capital the institution has business upon The
ock permanently held by those who have great conf
dence in an ultimate Improvement to some extent in its
rea value as an Investment; and there is therefore, very
little floating about in the market The board of
feel much encouraged. and have full faith in eventually
establishing the bank better basis than ever be-
fore enjoyed The experience of the past seven years,
purchases 30 dearly will be very scrviceable in regu
lang the operations Of this institution and there il there
ore very little danger Of its progressing too RAPIDLY or
adopting course likely to lead it from the repu
lar and legitimate business of banking We have more
confidence in banking institutions properly revival
taose which have saved a moderate capital from the
wreck Of large and resumed business upon H. than
we have in hundreds of the concerns which have
been chartered within the past three years and no one
knows out OF the banks whether hey have in fact any
capital not the chances being that they have not one
half or perhaps onequarter, of the capital represented
IL may require little time to get the Girard Bank
once more fairly and successfully under way, but IL
must before the lapse of many months, take s rank
along side the other banking Institutions Of Philadelphia
's business, since the resumption has been to a very
iair esient and is steadily increasing
Inc returns Of the Canal and Banking Company of
I've" o''esns' ior the week ending the 18th of August
make TIE following exhibit
CANAL AND BAsxrse Comr.ry ar Nrw o.,r
c,,.. Cash Lia5ihsies
Isdiridual depos;iors SI65,s3o 90