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MONEY MARKET. Monday, September 16-6, P. M. The State Bank again received safety fund money to-day.This fact allayed the excitement occasioned by its rejection on Saturday. The stock market was, however, still depressed.United States Bank recovered a little from the price obtained after the board adjourned on Saturday, and closed at a decline of I per cent only from the close at the first board on Saturday. American Exchange Bank declined 11 per cent; Vicke. burg, I percent; North American Trast and Banking, 1 per cent; Illinois, 1; Steningten, di New Jersey Rail Road, 2. A run took place on the Mechanics' and Traders' Bank of Cincinmati. on the 9th inst. in consequence of the sudden disappearance of the cashier of that institution. About $0000. were abstracted, when the demand ceased. The circulation is stated at $25,700; Deposits, $11,197; Cash on hand, $96,387. The bills of the Manhattan Bank of Ohio, which have heretofore been redeemed in Cincinnati by Delafield & Burnet, are now no longer redeemed by them, and are at a discount of 10 per cent. The Pennsylvania State Loan for $2,054,000, has at last been taken. It is supposed by the U. S. Bank, under the direction and far- sighted policy of that institution, Pennsylvania is rapid ly going ahead, while her neighboring States are,by the folly and mismanagement of the financier,made tributary to her greatness. Sales of Corporation Bonds were made at the board at 2 per cent discount. A new emission is making to day, and to-mor row, by the Water Commisssoners, in favor of the contractors, who are to receive $250,000; 17 per cent of which is payable in cash, and the balance, about $200,000, IB 7 per cent bonds, payable June 1st, 1840. Part of these bonds have been already sold at a discount of 3 per cent, which is their market value. The loss is not sustained by the city, as the contractors give a receipt in full for the face of the bonds. They receive in cash $42,500, and in bonds $207,500, which, at a discount of 3 per cent, is a loss of $6,225; but the probability is, from the state of things brought about by the vacillating course of the banks, that the loss will be still greater. The arrangement of to-day, for the redemption of country money, is only temporary. It is understood that to-morrow a distinction will be made, aud the bills of all those banks which have not strictly complied with the requisitions of the banks, will be rejected. Therefore, although the bills are now received, they are liable to rejection at any moment. On Saturday,a great excitement was created, and the merchants sustained great losses and inconvenience by a capricious movement of the State Bank, which now appears to have been uncalled for. If the bank was able to redeem to-day, they were surely able to de so on Saturday; but the measure was conceived in ignorance, and recklessly put in force. They then, astonished at the panic they had created, again redeemed to-day, with the purpose of again discontinuing to-morrow. How long will the merchants submit to this reign of folly One of the principal causes which have operated to the derangement of the currency of the State, has been the action of the issues of new banks. By the returns of the Comptroller on the first day of July last, it appears at that time he had delivered to the new banks circulating notes to the amount of $4 000,000. These notes have been, since the discontinuance of the yearly arrangement of the, Safety Fund banks in May last, gradually working into the confidence of the public, and their circulation consequently extending. In proportion 28
