The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1846-02-27

MONEY MARKET.
Thursday, Feb. a8--8 r. M.
The sales Of Long Island and Norwich and Worcester
Railroad stocks very large to day, at decline In
the former and advance in the latter. Very little was
done in the other fancy stocks but prices generally
show an improvement Canton went up per cent; Nor.
WITCH and Worcester. Harlem. II; Rssding, Ii Penn
syvsnia 6's /; Morris Canal 4; farmers Loan, TIVE
hundred shares Reading sold twelve months.
equal to about 10 per cent At maturity, and the same
price was offered for one thousand shares more.
The Manhattan Gas Light Company has declared
dividend Of three per cent the srd Of March,
The Pennsy Railroad bill central routs) passed
is final reading the Senate Of that State Tuesday.
by vote Of 26tos.
The directors Of the New Jersey Railroad and Trans
poration ompany have issued notice Of their intsn-
ton to distribute par value the reserved stock Of the
company in the proportion Of share to ten now held
among the stockholders Those who do not signify their
intention to take the stock by the i4h Of March, win
forfeit the right.
There has recently been Q decision made 10 the Su
prsms Court Of Mississippi in relation to the banks OF
that State, which must have very great influence upon
the value OF the stocks Of the defunct banks in
state Of liquidation This information 10 particularly In
teresting to those holding the stock Of the vcksburg
Bank. The decision referred to. made ~ the
Supreme Count Of Mississippi declaring the amendments
to the Briscoe Bill constitutional
prominent damocra In the lower branch Of the Leg.
islaurs Of Mississippi by the Of Briscoe bitter
opponent Of the whole banking and credit syste and
of the circulation Of paper money In the year isas in
troduced bill into that body providing for The imme
dais investigation by means of inform In the
turs Of quo waroo, into the condition of the various
banks Of that State upon the question: whether they had
forfeited their charters not and also for Judgment Of
forfeiture, in such should prove to be the fact
This bill passed the lower branch Of the Legislature in
the shape in which from the hands of its author.
In the Senate the question to the ct OF the
proceeding, and Of the judgment when rendered under
II, and an amendment introduced. by which Il was
provided, that the assets and property Of the banks
should be for the benefit of those legally
titled to them. This amendment passed both branches
Of the Legislature approved BY the Governor, and
became a law.
The sair came before the people during the following
year. and The question was, shall this amendment be
repealed and the original bill be substituted This ques
ton came before the Legislature sgan. and the lower
house. in committee Of the whole. refused to repeal
either the amendment the original bill Against the
repeal of the amendment there would have been ma.
jorty Of IS 90 but the repealsr prevent defeat
moved to repeal the whole. and was lost BY majority
OF L. The Briscos q 1t stands with the amend.
ment law OF the State, and the opinion of the Sd.
preme Court affirming its consttutionality, win now be-
carried into effect
The assgnees Of the banks Of Mississippi in state Of
liquidation under this law retain possession of their
the benefit of the creditors In the case Of the
vicksburg Bank confirms the possession Of the rail
road for the benefit Of the stock holders beyond the
reach Of the creditors leaving the other Of the
bank subject to any legal demand This may letd to
arrangement between the bank and It's creditors
The assgnees of the Vicksburg Bank sometime since,
made proposition to the creditors of that iastitution
proposed to pay of all the liabilities Of the bank
with stock that is, half Of the whole number Of
shares the capital stock Of the bank to be given in
payment the debts This stock to from each
holder an individual holding ten shares to give up
five which double the cost ofthe Ave Left This arrange
leaves all the assets Of the bank to the stock hold
ers the creditors Of the bank coming in holders Of
half of the stock 900 shares They receive stock
par value Of which 00O for demands est
mated at about 100000. The assets Of the bank
estimated at So 500 o0o of which ST. 900 notes.
bills, mortgages, negroes, mules. horses, &C. Should
this million Of be realized should not
the first cent be realized hem the stockholders have
railroad. which cost about 81 600, the income o.
which, annually is full six per cent 81 600 600 valu
ing the road, therefore, at two millions Of dollar-on
which amount the receipts pay i've per cent--ths
Stock Of the bank becomes worth Hy cents on the dol
lar This statement places the affairs Of the In
very fair position and settle the point the
present prices Of Vicksburg Bank stock 10 Wall street
not much than quarter Of the real value OF
the stock But it Is much easier to make propositions
than to carry them out II 10 much easier TO estimate
sets than to realize them.
The latest ocial report showing the condition Of the
vickshurg Bank, exhibits the annexed statement =
v'cxssuRc BANKING AND RArLRoAp COMPANY.
Due United state: Bank and Phsnix Bank iaSi @ s.
Certncates Of all Kinds. l,20a 991 rs
Bank notes and post notes.. ........ 276 ,65 90
Deposits 457O7 20
sass CAT 10
Post notes in suit $4,000 2eo 900 90
Total amount Of liabilities. %, $50 S27 10
ASSETS.
liz, notes and mortgages. "a le4 1871 90
Cost Of railroad. 24ls.765 81
6t2 e97 IS
Surplus assets liabilities ga 0a2 269 IS
The special debt Of the company Of s2so ooo Is mot
taken into this account, the real sa.ats owned BY
the bank amounting to $so2 oOo a. II 10 estimated that
one will Offset the other The United States Bank and
the Phenix Bask have claim on the vicksburg Bank
amounting to la02 lac The assets Of the vicksbure
Bank put down at SO Ga S. Of which more than
four millions Of dollars in notes. bills and mort.
cages lnthe event Of these being realized the face
the capital Of the bank would be saved without making
compromise settlements Of its liabilities Should the
assets OF the bank only net 6y the dollar in
GLIDING the ralrosd. &C., and the liabilities be paid in
full the surplus would rive a vaus N tha .,~or -