The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1852-09-29
CONMERCIAL AFFAIRS,
Ey MARK EFT.

cent Augusta Water Power, y. Phoenix Mining Com
rany has been id request recently prices
slightly improved Cumberland Coal was among the firm
est stocks the list day very little stock offered
and Il advanced from the opening, Nicaragua Is the
upward move again. The bears rather shy and do
not put out short contracts very freely.
The receipts ct the cce Of the Assistant Treasurer
OF this port 60 day amounted to SIlO0Ii ~ pay mens
| SITS AGO Ambulance, S70l7 sol 49,
The steamship Osnsds at Halifax from Liverpool brings
t,ttdsys intelligence from all parts OF Europe
news I'M ortant Quotations for cotton h.vs
ightly fucustod since the departure Of the previous
ssner, but olosed without change. Provisions ana
readstuds in fair demand but prices we're hardly
asntaned. Financial affairs remain previously re-
sorted
The receipts az the Pennsylvania Railroad Company TO-
The month o. August 1852, amounted to sl4gs96 80
against oT 725 O. for the time year Showing
m incresse in August, this year Of S42,270 IS The
total ncrase IN the receipts Of the road eight
menths ending with August 1852 compared with the
corresponding period in 1851, S572 40 65.
There Gales in this market yesterday Of several
rmaA lots Of the stock Of the Augusta Power Com
pany. The cspta of this company l. Represented by
wcsty two thousand shares eleven thousand Of which
issue Each stockholder will Do entitled 10 an
squal number OF shares, by paying in dollar
livery old share. This arrangement has tho eect Of 70
lucsg the value of each share nearly half. which
explains Why the stock is selling SO % per share
instead OF $l2 quoted few days since 1t IL stated
hat the company is free from debt and have income
OF $40 900 per snnum.
Large amounts of Edgcworth stock have been thrown
upon market within the past few days both In this
and The Boston market The stock has we believe
ell been taken which places the company a most favor.
sble inAnoia position.
The Warren Bsnk of Dsnvers has declared a dividend
Of time aud hsh per cent
The Boston Courier says -" During the past wseA
money been plentiful owing to An Increased de-
psDd consequent upon the fal trade tue n,tured
crops which have usual, created imperative wants
Although 1 per cent is about the discount at the
banks and in the street yet higher been sub
nted TO Tor temporary loans pledged so,ks and
business paper Tie government disbursements from
the Treasury Department will replepish tho bank
golfers, which have been somewhat depleted ny the DO
Iaeso exchanges while the prospect of good supply o.
foreign bills removes reasonable fear of specie ship
meDts settle balances, beyond the receipts
ninss The spp1oachpS October dividends will oontri-
butte somewhat to the demand for dividend paying
for although the advantages be derived
from There periodical payments generally fail short the
anticipation"
The tots value of foreign exports from the port Of Bal
ncre for the week ending Thursday, S21I, 574
Among the articles shipped coz bbs and 3i5 hal
bb OF -four III bbls Of meal II 9S7 bushels Of wheat
1-oO bushels of corn and 2,13i hhds of tobacco
The railroad from Cincinnati to Hillsborough, Ohio
vas opened the 22d inst dinner given several
speeches made, and determination manifested the
par those present push the to Parkerburg
Va, ~ rapidly 81 possible
The Burne4 Bank Syracuse, has been organized and
will commence operations. The Monroe Bank is the
name Of institution about commencing operations
IA Rochester bank has just been started in Dun
kirk called the New York ard Erie Bank. The Bank Of
Ulster will commence business in Saugycties.
Several other banks have recently been started ia all
parts Of the Union There must be end to al this
An increase in the establishment of banks for
length of time at the rate it has been going lately
will completely deluge the country with them. The
suit Of this can easily foreseen Most Of these banks
are merely banks of ISSUE each OF which puts out
circulation ranging from fifty and hundred
thoussnd dollars Fortunately those issues secured
by deposites Of good sound stocks beyond the reach
Ae bankers brokers' owning the banks, and beyond
their control until every dollar Of paper ercussou is
deemed
The special act Of the Legislature Of MAJ aud passed
nc the session prohibiting the currency, IN
the issues OF foreign banks Of smaller
soninaton than five dollars will so into operation
Friday next, the FIRST Gay OF October. We publish
the net Tor the benefit Of whom it may oncern-
4,
Maryland That from ard after the first day Of October
hteen hundred ana fifty IL shall be lawful for
body polite, 20 pay out circulate, receive in pay
ment any debt any bank pIomissory note other
obligation payable to bearer endorsed in blank to
bearer other note sokcn, Geyice
devised tpteDced for circulation currency is
sued without the limits OF this State Of less denoInna
on than tive dosIs under the penalty oi five dollars
for each end every ceuce TO be by
Of debt in The name Of the state before ANY justice Of
the peace Of the state
See 2 And be it enacted That half OF the penalty
recovered in any under this shall go in.
former and the residue shall be paid cosotor
county city taxes, for the county or city
where the may be prosecuted for and in all cases,
the informer stall be q compel, nj witness.
Sc. 3. And be it enacted That in case spy person
against wtcm any judgment may bs rendefed tor the
penalty provided by this act, shall not Immediately pay
the and the costs Of the prosecution give
rty satisfactory justice rendering uo gment
the payment he shall be commi ed TO prison. there to
remain until the shall be paid until the expira
Of ten days from The date Of the commitment which
| shau first occur.
Sec And Re il enacted That from and sfter the rst
Day Of March eighteen hundred and fifty three il shall
be lawful for any bank savings institution corpora
ton body polite Of Ibis state for any person
association Of pertons, to make issue or pay out
note device the nature and character described in
the preceding section of this of less denomination
than dollars the penalty prescribed In said
section fos each odence and 20 be cred Ia the
nanLer.
law Of this kind rigdy enforced lie better calculated
suppress the Issues Of wild banks than all the
ever passed the regulation Of the banking systems
the different states The Pree Banking Law, with
restrictions relative the denomination Of issues woud
be about perfection it possible to get IT. For
the present prohibition Of any Issue below i've dollar
would DO very ve but few years hence ten dollar bi
would be snail enough, The large monthly receipts Of
gold in this country from California and in Engiani
from Australia must ultimately become so great in the
aggregate Accommodations force itself into crculs
ton the exclusion d paper Before the value Of the
precious metals materially depreciste II must be-
embodied to very great extent in currency.
Millions upon millions Of psper must be displaced and
the currency inmessufsby improved in value before the
comparative value q goid and silver viii DO affected
ReversI States in the Union have within the Dss wear