The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1846-05-23

MONEY MARKET.
Friday, May 22-s r. NJ.


There was a very great improvement to-day in tho
stock market and quotations for the fances in in
stances, went up and and half per cent Har-
lem advanced II per cent, Reading 1t, Norwich and
Worcester Morris Canal 4, Farmers Loan !, Pennsyl
wanna Sc Long Island fell of and Canton Tor cent
The decline in Canton caused by the sales being
made dividend of This company has declared divi
dend in scrip sales Of which were made to-day at three
dollars per share.
At the second board further improvement was made
Harlem went up per cent Norwich and Worcester !.
and Long Island l. The sales at the first board were
large, and there is upward tendency in prices The
advance in stocks to-day attributed to the favorable
commercial from Europe, received by the steamer
il hardly possible, under existing circumstances Tor
this improvement to be sustained The Of interest
in the street rules too high and the demand for
from the commercial classes active permit any i'm
provement in the stock market being permanent. The
scarcity Of money in the southern western cities
very great and So much embarrassment has already
been experienced In those sections that several failures
have taken place We must feel the effects Of this
in the Atlantic cities and when comes we expect
will be severe enough TO create considerable dculty
The government must before long. draw largely upon
their dcposcs in the North and East to the heavy
expenditures growing out Of the Mexican and the
banks will be compelled draw in their short loans
meet the drafts
was reported throughout the city to-day that several
country banks had suspended payment; but the
ports without foundation. They probably from
the announcement made yesterday that the Lewis
County the White Plains and the Farmers and Drovers
Bank of Buffalo, had suspended and gone into liquda
ton and that their notes only redeemed largo
discount In these times when general suspension
by the banks is looked upon being inevitable the pub
Lie mind Is very easily alarmed upon this point.
The Bowcry Fire Insurance Company has declared
dividend Of per cent payable on the LIST Of June
The Bartlett Steam Mills, at New buryport have de-
clarsd semiannusl dividend Of " per cent
The Croton Mutual Insurance Company has exploded.
1t has failed to pay s losses in full after issuing own
notes for about seventy thousand dollars and above
Its other resources, to meet all demands they come
along and notices have been issued to those holding IN
expired policies, to have them cancelled but nothing 10
said about returning premiums
II was supposed, up to the latest moment that this
company doing large and productive business but
s insolvency must have been known to the board of d.
rectors months ago. notwithstanding which, new policies
issued and old ones renewed up to within twenty
four hours of tho declaration Of bankruptcy. This
system Of conducting business u.s. to say the least rather
Of questionable character We can sympnthise with
the unfortunate holders Of scrip or stock in any company
becoming bankrupt through series Of severe losses
pus We have Very little confidence In any body Of indvi
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