The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1847-06-13
MONEY MARKET.
Saturday. Juno I2-6 II. Nj.

Quotations for stocks took turn today, and the
movement is again upward, with increased impetus
At the first board to-day Pennsylvania 6's advanced u
per cent; Reading Mortgage Bonds y; Reading Bonds
u; Reading Railroad, Farmers Loan n United States
Bank y; Canton q; Harlem q; Long Island Al Nor
wch and Worcester q; Illinois fell off "a Indiana and
Morris Canal closed at yesterda, g prices.
At the second board Harlem improved . per cent;
Long Island y; Reading u; Norwich and Worcester x
on prices current in the morning
There appears to be very general advance in quota
ons for stocks and at present nothing In the po
litical, financial commercial horizon likely to check
very soon the imitation going in prices The money
market easier The rate Of interest rules at
four and five per cent The banks full Of money,
which they anxious to oan and there every pros
pect Of these good times being long drawn out 1t is
about tme things have been kept in contracted
long enough to satisfy the most desperate bear.
The Chesapeake and Delaware Canal Company have
given notice that dividend of six per cent the
cd debt OF tho company, what ismore Familiarity known
the loan, will be paid account of the back
interest due thereon and after the LIST Of July next
at the office Of the company, in this city
The Supreme Court in Banc Of Ohio appointed some
time since commissioner to examine into the cond-
ton Of the Ohio Life and Trust Company and report
has been made, after close and careful investigation
the books Of the in relation to each separate
branch Of business The commissioner in his report
says
Its affairs are managed with prudence ability and
safety that the standing rules relating this depart
ment have been faithfully observed that more Of ts
outstanding debts in proportion to the of ito
business than could reasonably be expected
and available as contradstinguished from
unavailable means; that no issues evidences Of de b
have been issued in forms not permitted by law. No
issues evidences of debt have been issued PAYABLE in
anything but money, OF otherwise than demand ex
cpt certificates Of deposit limited periods on
rs distinguished from general deposits under the rules
the company.
"No transaction, usage, or act of the company has
come to the notice of the commissioner which is una-
horized by the charter preudcal the public in
terest Under this head your commissioner deemed it
proper TO make more extended inquiry than could be
effected by examination of the books aud documents
of the company and accordingly examined under oath
the President Cashier and Discount Clerk of the bank
ing department This investigation enables the com
missioner to state that greater rate Of interest
six centum has in any been charged
upon discounted paper that no part Of the funds OF
said institution are directly or indirectly employed by
the company any of its officers agents brokers'
except in the specified in their report
engaged in any other business either prohibited by or
contrary the policy of the laws of this State cacu
lated to affect the credit Of said company
GAS the confidence Of the public must in greater or
less degree depend upon the reputation of the insttu
ton for its solvency and ability to pay its liabilities
have thought 1t duty to submit of the reasons
that have induced the above conclusion All losses as
ascertained charged account of Profit
Loss. and deducted from the assets of the company
Besides which, there are a number of Instances IN
which real estate, other securities have been taken In
full payment OF debts due the company, and charged
upon the books at the prices thus taken Subsequent
events have In some instances determined Others
the truste-s have presumed from reliable information
that these securities not worth the nominal sums at
which they taken and have deducted from those
amounts such sums as lie believed bring them in most
instances to their actual valuethe excess th,
nominal and true value being charged to Profit and
Loss. After making all the deductions abeve stated
there still remained the 18th Of May instant an az
cess OF assets and above all liabilities including
the capital stock Of S32l752 ST. This amount Is con.
fdenty believed to be more than sufficient cover any
probable losses which can be reasonably or fairly anti
cipated II further proof Is necessary in order to sa
tsfy the doubts of all it may be found In the fact that
the stock of this company Is sought after par
even ut premium, by persons who have the ample
means OF judging Of It's value and safety
m.nt
When take into consideration the extent and mag
niude Of the dealings of the company and that In the
purchase and sale Of the single item of bills of exchang
alone their transactions to millions OF
dollars for the year ending with the aGt report and that
the balance Of their suspended debt to the same pc
Rod Is only one hundred ard twenty thousand dollars
which has since been reduced to about $1,000 (much
OF which Is of long sandiug It, brcones dihcult 10 re-
sst the conclusion that in the management OF snar5
its officers have exhibited than ordinary skin ana
prudence and those holding its engagements have IN
this alone strong guaranty Of the safety oil the inst
tuition a.,
In relation to the advantages Disadvantages wnich
result from ts dealings the public and TO the various
casses Of individuals and corporations ana ts eheots
mon the businsss operations Of the community your
Commissioner has no means Of judging other than such