Mesenchymal stem cells do not have not hematopoietic activity, but they have "plasticity," as they are capable to create cell types, such as bone cells, chondrocytes, adipocytes, myocytes, myocardial cells, nerve cells and skin cells (experimental protocols).
They are mainly located in the portion of the umbilical cord and their isolation can be made from a small piece of cord 15-20 cm, immediately after the birth.

Hematopoietic stem cells are the source of the cells in the blood and immune system. They are found in large numbers mainly in the bone marrow, as well as in the umbilical cord blood and peripheral blood.
It is well known that these cells can be isolated from umbilical cord blood immediately after birth.

http://stemcells.nih.gov/info/basics/basics1.asp
http://www.answers.com/topic/mesenchymal-cell