The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1848-07-19
COHH8RCIAL lFPLIRg.


Cvu u BClAk AEEAlBbs
HONEY MARKET.
Tuesday, July $50 r. M.
The money market has been somewhat easier for .
day or two but it is yet very stringent Stocks
steadily declining and we no immediate prospect
of any change for the better. At the first board to-
day, there enough business done to give employ
ment to active broker and the street generally
unusually quiet. Treasury notes fell of u per
cent; Harlem, n; Reading Railroad advanced 4 per
cent; Reading bonds, Il; Reading mortgage bonds,
There has been active demand for sterling
change to-day; the rates have been firm at 9A 10
per cent premium. 1t is reported in the street that
the steamer will take out large amount Of specie.
The market is well supplied with sterling exchange Of
second and third rate quality which is offered at sx
q o per cent premium.
The Auditor of the State Of Ohio has levied the follow
ing tax for the current year:-For general revenue
purposes, $40 mill; for school fund 10 do
for payment of interest State and sinking fund
$40 do Total, mills.
It appears, by the report of the Finance Committee
in the Senate of the Legislature of Wisconsin, that
the expenditures of the Treasury in advance Of
FINANCES OF WISE AND EXPENDITURES,
184S AND 1849
The estimated expenses of the State until
Estimated expense for ls4e.. ............ 10000
Total $10,OO0
This will be necessary to defray the expenses Of
the State before the taxes Of the next year be
levied and collected
To meet this expense, the State has the following
available resources -
Amount in hands Of the Treasurer. ..... SAIL 81
Available delinquent taxes 5000 90
In the hands Of the canal receiver. 10000 90
Total $l9 Ill or
-LeaYing deficit Of SsS 49, to be provided by
direct taxation.
The taxable property in the State, of all kinds both
real and personal is estimated at $21 100000 But the
assessed value returned from the several counties,
the present year. is put down at $13189 2S5 80. An
increase of the rate of taxation of four and half mills
on the dollar, this last sum, is recommended in
preference to of property, the cost Of
which would amount to oneffth of the entire State
revenue proposed to be levied. Such an increase
would yield the sum Of 361 IS.
We have not had, for several months, such
nose of the operations of banking systems as pre-
scented in the affairs of the Canal Bank of Albany.
The statements which have from time to time been
made public since the suspension of that institution,
are nothing compared with that which we annex,
made by the examiners appointed by the Comptroller,
We give this adavt at length that the public gene
rally and those interested particularly, may what
the condition of the bank at the time of its sus-
pension
CANAL BANK ALBANY-ExAMINERs' AFFIDAVIT.
White snd bsng duy
sworn, say that on the 18th day Of July inst, they
we're appointed by the Hon. Willard Fillmore, Comp
troer of the State Of New York. special agents to
anime the affairs of the president, directors and
| pany of the Canal Bank Of Albany. That in pursu-
ance of that appointment they proceeded to the said
examination, and have been diligently engaged
therein the said 11th 18TH 18th and 14th days of
said month of July That they have been as yet un-
confused and extended nature of said affairs and in
some considerable degree from the want of diligence in
one of the former clerks of said bank who profered
and undertook to balance the books to show the
amounts due to and from the bank and entered upon
| very tardy and unsatisfactory manner. That al
though deponents have been unable to make eat full
statement Of the AFFAIRS OF sa,a Dank sney nave pro
do dspose and saythat romthe books, papers and af
fairs and vouchers Of the bank, and from testimo-
bank it appears that the bills of said bank in cir
culaton, unredeemed and unpaid, amount to about
| one hundred and eighty-nine thousand dollars !;
and Theodore Olcott late cashier of said bank has
formed deponents-and theybeeve 1t to be true-that
said bank Is indebted to individuals for depostes above
fifty thousand dollars and to the State of New York
about sixty three thousand dollars That they found
in the said bank the sum of eleven hundred and two
dollars or thereabouts in coin, and in good current
bank bills exceeding ten fifteen dollars besides
worthless almost worthless United States Bank
|
dollars The above constitute all the asaets of said
bank except their real estate and stocks and debts
due them-the amount Of which Opponents, for the
| reasons above mentioned, are not able to state.I
Deponents further say that from the testimony Of
the late teller of the said bank taken before them
and from the declarations of the late cashier and from
their general observations and thesaspecct of things
| appertaining to said bank. they are fully satsf-
pay their debts and liabilities Independent of the orig
nal paid in And deponents further say that it
appears satisfactory to them from the books and pa
| hapE hat NM than mo half Of fhQ
amount of the capital stock of said bank has been
loaned to- and is now due and owing from, the drec-
tors of said bank And further that the late teller Of
said bank, according to his own testimony before de-
ponents taken has been in the habit Of making large
and without the knowledge authority or consent Of
the directors but he testes. with the knowledge
and sanction of the cashier That such loans now
| due and unpaid amount according to Opponents
understanding, and their best knowledge as de-
rived from the said telers testimony together with
| the books and vouchers, to at least twenty-five
thousand dollars That said amounts have been
loaned principally, and almost quite entirely, with
out any notes, endorsers sureties but upon
simple memorandum checks, post dated, and other
| memoranda. most of which have yet many months
That the said amounts and other large amounts
have been uniformly counted as cash, in making the
statements of the affairs of said bank and in calcua
tioDs for and making their semi-annual dividends
1t further appears that said teller, with the know
ledge and sanction of the cashier he tesfes loaned
eight thousand dollars to Marlett contractor on
the Erie Railroad, within very few days before the
any endorser surety except the said Martlett
memorandum check, and his naked promise that he
would Sc draft on the Erie Railroad Company for
the amount but which amount, or any part thereof,
has not yet been found That package eight thou
sand dollars was sent to Pepoon, Hoffman and Ten
Brock in June last, with the knowledge and by the
direction of the cashier and never charged upon the
books of said bank until the 10th day of Jaly Instant
and further appears that Edwin Croswe Of tn
directors said bank is indebted to said bank about
seventy five thousand dollars; and that John Reyes
Paige. one of the said directors is indebted to said
bank for about fifty thousand dollars for money loan
ed him by said said bank as president OF glass com.
pany, in the city of Albany about the solvency of
ub;cb 0laee deponents have no facto