The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1857-09-29

A. the secord b,ard the market WAS bett'r ali
round There was not much business, but nearly
every stock shows Improvement Missouri
es vent up 2 per cent New York Ceotral es, 2
This has, on the WHOLE been terrible day In Wall street.
TO be hoped that such will be few and far between
The decline In the market value OF securities has
decided that Of previous day this and there
10 BIO Jet still lower depth There IL money, credit,
no confidence, and plenty Of securities offering prices
that would almost tempt dyed.in the wool bear; bul
there buyors, and every seller There
still sapgune bears In the MARKET and the higher
priced stock securities there stu wide margin left for
. decline The money market u in . perfec, chaos.
Money brings any value holders hive mind 10 put Il
Three, -four and i've per cent month the daily
demanded and paid. Every one in in hops OF going
through, and engaged In business speculation
really Knows anything about the future. There
we're to-day numerous reports OF failures. some
OF the boat houses In the city were reported
having Suspended These reports obiaited
currency from the fact thai small failures occurred
Of names partially similar to those of se,era promlnep
concerns, and the panic strengthened and became
vide spread before the explanation gained currency The
leading hou,es pamed s..nd Fest and viii be the last to
succumb to the storm. The bank s.a,emen, locked
uptn icing unfa orabe, but do not agree with hi'
view OF the reports. The contraction In discount. and
deposits an encouraging featore-ons that 10 lvoaabls
under existing circumstances The leading banks have
just issaed the following circular
The uroerngned ha-us 5eea called upon to rive their
ornlop regards the eecl likely 10 be produced upsn
The banks u TIT, city By tie Suspension OF tho limitations
ol The neighbour cie, reply thn their aecied OPT
and petition, ana that they no, only sustain
themselves ~ trsoe ing bAaks, but from ide naurA
that ,hcy will sbls 10 furnish further more
efficient aid u the mercantile community
sp H>IiEY, Vice Pre.iieni sank Of Nav York
J. J. PALsEs, President Merchants Bank.
7. r1LESrON, Presidenl Phsns Bank
KNAPP, Ps,idep, n.obspics' Bank.
DENiNa, President Union DADks
q q. EaLSrED, President hAnh.t an Company.
j. T. sOUrTER, President Bsrk OF toe Rcpuolc.
WIfHERS Prciicni Bank of the State OF New York.
JE WILLIAMS, President Metropolitan BANK.
TB0S A. BOOTH, President Amercsn Exchange Bank.
There Ia cousolauon 10 the dejsolei Thore
/, doubt regarding the views OF ,hese genliemen.
The oanks OF his city arc beyond almost any
oontns sncy, sni viii stand IL all The other banks
in tbs country suspend We condemned the panss
feai.asy ard rerseverIrgy while they expanding
their lines OF dlscoun. upon steadily declining specie
reserve and equally duty 10 sustain and encourage
them IN ,be course they pursuing. Our banks
tie upheld In the practice OF self preservation In
this contraction They may break many mercantile houses
and cause great deal Of distress among ntvidus but
he community 10 Interested In the sol rency and
operation upon specie basis Of these institutions Al
any sscrnos The city of Sev York mux not follow IN L.
dsphia Baltimore ip their suspension. Such event
would ndecd DC ameneoe sno esvc ~ notnnk W nope
for In the future. With banks sound and strong, the
recuperave power Of the country win be sustained and
have . foundation 10 ererssc isclf
Tho teiesrapnic head In This contains al the PER
nculArs relative 10 ba,k movements In different pars OF
The country. The Nov England banks continue specie
payment, and u 10 70 be hoped nothing will occur ,o
charge their pressn. position We must vait patiently
for the result Whichever may be, II 10 fixed, and no
effort can alter The banks Of Connecticut and Rhode
Issud In she greatest danger snd Will have bo great
oa difficulty In avoiding suspension.
The European sdviccs no. al oil favorable. consoIs
we're lower. Tho Bank Of Holland has raised tho rae Of
issercst PreAdssras little better, but insoavs.
The demand for money In London was active and the
rates Of iaieress full up 70 previous quotations..
Tte Board Of Brokers amended the rule lately passed %
10 extend time sales 70 sixty days. The Board Of Bro
scrs, present constituted IL very poor affair and
wanna overnsuhnE Abou, i~o thirds Of ths members
have failed ard there no. Of hou,cs con
necd 9Th the board whcse contracts really good
and be depended upon u maturity.
Tue annexed statement exhibits The ooudon Of The lead
ns der Of the banks OF this city the morarg
Of saturday, Sept 2e, 1881 -