Camden commercial courier. (Camden, S.C.) 1837-1838, May 13, 1837, Image 2
Kg
From the Courier and Enquirer.
ONK DAY LATER PROM ENGLAND.
Late last night we received intelligence
of the arrival of the London packet ship
-Quebec, Capt. Hebard, which sailed from {
Portsmouth on the 3d ult.?We have received
by her London papers to the evening
of the 1st, from which we make the
following extracts:
London, April 1.
Letters from Glasgow state, that a
house in the Bombay Trade, and a house
in the American Trade, and extensively
concerned in Cotton, have stopped. It is
thought the joint engagements amount to
one million sterling."
We regret to hear that the hosiers of
Leicester unrc obliged last Saturday to
discharge nearly all their hands (amounting
to some thousands in town and country)
for a fortnight, owing to the badness
of the trade.?Stanfoi d ATt.rcury.
London, April I ? Friday Evening.
The commercial money market presents
no new feature of import to-day;
hut there is nevertheless, some considerable
apprehension that commcrriul and
tnoneytary dealing have been unnaturally
forced on to an artificial system.
The accounts from Liverpool arc not j
quite so favorable, and the understanding !
that the failure of a mercantile firm deal-1
ing in bullion and foreign|bills yesterday,is (
.. i..-, ?i I
tv a UIUI.1I iaif;ci U'liwuiil III.Ill H ilS UIIIICIpated,
lias liad the effect of datnpning
-commercial credit.
The foreign exchanges continue dull,
transactions in them have been very limited,
and the quotations have not improved
since the last post day*. The quotations
upon Paris rules at 95f 85c, on Amsterdam,
13 1-4 a 12 5, upon Hamburg 13
12 1-4 a 13 13.
In the British funds, there lias not been
any business of moment, and there has
not been any variation of consequence in
the Consol market to-day.-?Consols open- ,
ed at 90 1-8 and closed at 90 1-4 sellers
for money: for the account they began at |
90 l-4a5-8, and left off at 90 1-4 sellers, (
showing rather more heaviness than dial ,
which prevailed yesterday. The Three- ,
and-n-Half per cent. Reduced Annuities i
are 99 for the opening, and the new Three- ]
aml-a-half per cents 98 3-4; Exchequer (
Bills are 31a33 prcm. and India Bonds
are 30a32 prem. I
From the Charleston Courier. '
NEW YORK, May 4. f
THREE DAtS LATER FROM ENGLAND. 1
The ship Louisville, Capt. Palmer, was
announced as below this morning, but in (
consequence of light winds from the
northward, with a head tide, she has come
to anchor on the bar. Letters by her, as
well as some ncwspapeis, have reached
the city, but I have only been able as yet t
to get sight of one or two of the former. (
They bear date at Liverpool, April 4th,
and merdly state that no change of tin* |
least moment had taken place in the mar- |
kcts since the sailing of Hibcrnia. s.
There had been no arrivals from our
side of the water since the departure ol
that packet, and the appearance of the [
G'irrick, the South America, or the Penn- j
sylvanta, was looked lor with the most in- *
tense anxiety.
Gloom of the deepest, darkest kind per- ^
vades our commercial community, and (
well it may?for yesterday was emphati
1 1 __ 4 t ... * - " * ?
cany me worsi uay mai new *ork lias ..
ever experienced in money matters.? '
From twelve to twenty more of our mer- "
chants were prostrated, a portion of whom ^
ranked among the first in the city, and j
were a short month since considered to ^
he as firm and staunch as any in the land. (
But they had to sink beneath the pressure t
of the times, and it is predicted that as j
many more will follow to-day.
Uncurrent money is a complete drug in 1
Wall-street, and the kinds that are pur- ,
chased are selected by the brokers with
the greatest discrimination and the fa- t
vored descriptions only taken at a ve |
ry high rate of discount. Our own safety
fund notes, which President Van ;
Huron formerly considered as the best'|
state currency in the Union, the Shylocksjj
wont even look at it; one of them had an
order yesterday morning for about $20,000
worth, and as soon as it became known I'
his office was so crowded by h ohlers, anx-1
ious to sell at the rate he was purchasing
at, 2 1-2 percent discount, that he had to
close his doors at once.
Perhaps rumors may have reached
your citv respecting some transactions of
the President and Cashier of the Mechanics'
B?nk, which were not approved of i
by tl ic Directors, and which led to their1
resigning. I have now the mournful in- I
telligencc to announce that this morning
the late President, Mr. Fleming, put an! I
end to his life by committing suicide.
He was an individual that was respected ]
wherever he was known, and his untimely I
fate has created a deep (eelit g of sympa-;'
thy throughout the city. Thirty years \
ago he joined the Mechanics* Bank as first 1
teller, anil since ihen has successively i
fillet' the stations of Cashier and I'resi-!
dent, and was also latterly Superinten- ?
riant of pensions, and Chamberlain of the i
city. He was above fifty-five years oft
age, and has left behind him a large fumi- J
Jy. i <
A run commenced on the bank as soon I
as his death became known; which has s
gradually increased, and ihe side walks on t
both sides of the street are now black i
with people.
All descriptions of storks have again c
receded in price this morning from one ;c
to four and a half percent; United States J i
Bank closed at 103, Icing two per cent J
lower than the closing sales of yesterday,j
and Delaware, and Hudson has declined
3 1-2 per cent.
MONEY MARKET.?Tuesday, May
2.?The great talk of Wall street, yesterday,
was the difficulties of Arthur Tuppan.
It appears that on. Saturday, Arthur
was under the necessity of asking for
an extension from his creditors. He made
a shift on Saturday afternoon, to meet all
Ins payments, but not till three o'clock,
and a bit beyond bank hours, had elapsed.
Arthur does a very large business in
French goods. He called his creditors
together and exhibited a large surplus?
about #500,000, and yet, in consequence
of the pressure, and the general dullness
of the spring trade, he came short #150,000
or thereabouts. The derangement of
business at the south has only affected
him indirectly. His abolition sentiments
have entirely destroyed his southern business,
but be l.as done for years a vast trade
in Frcneh dry goods with New England,
western New York, and the northwestern
states. It is calculated that his sales in
1836 amounted to #1,500,000 ; on which
he charged a profit of 10 per cent. His
manner of doing business has been singu
lunv precise, scieniinc anu accurate. lie
was in the habit of altering the prices of
his goods on hand, so as to correspond always
with the market prices.
If he had a lot of goods that had fallen
in value, Arthur would mark down the
prices, e7en if he hud to sustain a loss, in
order to adhere to the principle of always
selling his goods at the market price.
If he bought goods cheap, in a rising market,
lie would chalk them up the same
way. In other respects, Arthur has been
a very accurate and sensible business
man. lie has brought vast trade to New
York. The only objection to him was
his wild visionary notions about the negroes.
It was rumored in the street that
his creditors had given him an extension
and that he had gone on again. Others
said that the business will not be settled
till to-day. We learned, however, that
before 3 o'clock yesterday, after a long
consultation, he came to the conclusion to
suspend entirely. The U. S. Hank agency
agreed to renew his paper for $.">0,000,
ind the Bank of America for 830,000.
His payments for May amounted to $300,J00.
Any extensions for that period, for a
ess sum than $200,000, or $150,000 was,
hercfore nugatory. The other banks rc'
I a ~ - ? r t. t
u*v\i 10 mienere aiiogemer, uniier the I
ilea that they could make no exceptions. I
I'his supension will a fleet Boston and the !
tast very heavily.?TV. Y. l/crald. <
From tlir JV. V. Com. .hlr. oj Thursday.
P. S. TWO days later from liver- ,
?ool.?The ship Louisville arrived this mor- j
ling from Liverpool, whence she sailed on
he 4ih April. No change of moment in j
lie Markets. Things were in the same dull
\
itatc, as when the Ilibciyiia sailed. The
jackets from this city were looked for with '
nteuse anxiety. There had been no arrival
ince her departure.
Run upon the Bunk.?In consequence of ,
he idle rumors afloat asto the condition of the (
Mechanics' Bank, there has been something
if a run upon that institution this morning.
This, however, has not proceeded depositors,! |
>ut merely ironi the lull-holders of the I over J
-lapses, ami of course for small amounts. (
The hank, we .arc assured, is abundantly, i
ind beyond all doubt, able to meet its en- )
yigements to llie people. Jlelieviug that |
here was a needless panic in regard to flu? |
tank, however, (ieueral Davis, one of the
?ank commissioners, happening to be in the
>ank at about half past 1*2 o'clock, took occasion
to address the crowd in the treet
ipon the subject. lie made a brief e\lulition
of its condition, giving the srron est
issurances of its perfect and entire sa!i ty.
still, the run for small sums was continued
it llie time of putting ibis paper 10 press.
Since the foregoing was written, we have
>ccn furnished with the subjoined statement
rom Mr. Davis himself.
To the Public. ? Having recently examined
the affairs of the Mediant's' fiank,
I state from the examination, which was
full, that the depositors and bill holders have
milling to apprehend, that the bank is safe
and sound?and that the present alarm is
without foundation.
I make this statement to allay public
excitement, and as an act of justice to the
Bank. (Signed)
(JFX). R. DAVITS, Bank Com.
New York, 4th May, 1837.
In addition to the above we were personally
assured by Mr. Lorillard, the actual
President of the hank, that no demands can
be made on the hank that would do it harm.
We learn that Gen. Davis. ? tie ol the
bank commission! rs has just returned from :
Washington, whither he has been, accom-1
;>ani?ul by the ensbior of one of the country
banks, to advise with the President and
Secretary of the Treasury on the subject of
the existing pecuniary embarrassments of!
[his state. To what purpose we are not
idvi-ed.
'Iwo o'rjnck?We learn that the whole i
imount of specie drawn hy the run to-day,!
s not more than six thousand dollars.
The cashier of one of the hanks having
rersonally called at the Mecha ics', to releem
its notes at his own counter, Mr. Lorilard
thanked him for his kindness, hut answered
that they preferred redeeming these
totes at their own counter.
Stocks of every description have experi?nced
another decline to-day, and a heavier
>ne than we have had to notice yet. United
Stales Bank closed 1 per cent lower than
ast sales of yesterday ; Mechanics Bank 10;
Delaware and Hudson 3; Farmers Trust
II; iMohawk 3; Harlem 6; Boston and
Providence I ; Utica 2 1-2; Long Islaud 2,
ami New Jersey Rail Road 5 per cent.
Uncurrent money is very difficult to be
disposed of, and the Brokers have advanced <
their rates for Pastern to one and a halt' per j
cent discount?while the Western Safety
Fund notes of our own States, find 'no purchasers.
Ohio and a great man) descriptions
o( Southern, they also decline taking.
1 In short, it is the hardest day for holders
of such paper, that lias been seen jet.?
Coirr. <$ tlnq.
I Thr 3Ji)iifi/ Market.?We regret that we
cannot announce any change for the belter
yesterday. Slocks again went down, and
several more failures were announced. On
ihe w hole, it was more gloomy than any of
the hard days w hich have preceded it.?Ibid.
NEW YORK, May 2.
From the Liverpool journal ot April 1.
Ciiakceof Mutiny.?On Monduv, Ebe? I
nezer Howe*. master of tlm ship Archiwidcs,
of New Orleans, charged eight of
the seamen of his vessel with tmiltinying
in the channel near Tuskur. It seemed
from his account that he had been on bad
terms with his crew, whom he accused of
habitual disobedience. He admitted ha-,
ving knocked one of them down, but it
I did not appear that any thing had occurred
within the jurisdiction of this port.
I Mr. Hull referred him to the American
j consul. It was stated by some of the
men, that, so far from any mutiny having
been committed by them, they had received
most severe injuries, one of them having
been nearly killed by repeated blows
from a harpoon. The captain applied for;
a guard of policemen, declaring that his;
life was not safe. Mr. Hall said he had,
no power to interfere faither.
The Money Market.?We have it not
in our power to say that yesterday brought
with it any rnelioiution in the aspect of
affairs. More suspensions took place, and
some, which in any times, hut sucli as the
present, would have excited astonishment.
The accounts by the packets which nrri- '
veil, were of that negative character, as
to produce no effect, one way or the other. '
Many hills were returned protested for
non-acceptance,but this was expected. Our !
importations are sensibly diminishing, nei- 1
liter the Liverpool or Havre packets ha- 1
ving any thing like full cargoes.?Cour. 1
vSc L'nq. |
City News.?Tuesday. P. M.?Private {
letters front London adiise us that the (
tills of two large drawers in Philadelphia {
tad been noted for non-acceptances. As \
ne of the drawers has since failed, these |
Itills will no doubt come back. A large |
liouse which makes cotton purchases in i
this country, (Ilontley tfe Co.) had failed |
in Liverpool, and another house in Lon- .
Ion, not, however, connected with Amor- 1
ican trade. The general tenor of the let- j
tors, so far as \vr could judge, is favorable ,
particularly as it is believed by many that j
no isank ol England lias pone too far ,
ii lier assistance of American houses to ,
recede. <
This lias been another gloomy day in i
Wall street. Slocks are L.wer than yes- ,
ior'av, and lower than they have been (
my day yet. Failures continue. One of
lie most respectable and extensive brokers
went down to-day and another extensive
importing house in Pearl street.
One of tl?o partners of which lias been a
Director in the Hank of America from its
foundation. If bouses like thesethat are ami
have been for llie last twenty years, in
iigh credit, and which have all the means
if bank facilities to sustain them, it is not
extraordinary that smaller ones should
stop.
The failure of Arthur Tappan has created
much sensation in his iarge circle of
friends, and among all others, whose attention
has been directed toward him, on
account of the peculiarity of his position
in the country. This house lias assets of
over half a million, over and above all
their liabilities ; it also had the best of
securities to offer, but it was all in vain.
The produce ?f the country is ail coming
down. F1 our has fallen a dollar, and
large parcels ol sound Odessa Wheat have
been sold at a dollar.
The Loco Focos meet to-day in the
Park, under the following singular call :
SPRCIR I SPRCIR!
ff/2"44 No State shall coin money?emit
hills of credit?or make any tiling hut
gold and silver a tender in payment of
debts.'*
44 Congress shall have nower ti* /><?; ? i
I I
ncy, and regulate ilie value ihercul.?U.
S. Constitution.
To the PARK! The people will again
meet in the Park, on Wednesday, May
3d, at half past I oV.lork, rain or shine,
to adopt measures to retrieve our country |
from the desolating influence of PAP BR
MONKY, and insist on Hold and Silver
being demanded for the PCRLIC LANDS,
and being paid t<? the Fanners, Mechanics,
and other useful classes of society, as the
constitutional and just recompense of their
honest toil; and to oppose the efTbrts now |
tMtking to perpetuate the Paper Money
Fraud, by the establishment of another!
v i o i ? -
i diiik. r,y request ol the Equal
Kiuhts Parly. ? Fx pr ess.
TIh* failure of a highly respectable
Rmker yesterday, who was an extensive
agent lor redeeming the notes of various
Eastern hanks, we are happy to see, will
not, in the least degree, affect the credit
of these hanks. Public notice is given
that the notes of these hanks will be received
at the old rates.? In.
From Havre.?News from thence is
more satisfactory, independently of the
Bank organized, there has been just formed
a lorge trading body, with a capital of
twenty million francs. It is for the general
purposes of industry and Commerce.
The law for the immense grant to the
Duke of Nemours, produces great discon-'
tent in France.
At Lyons there are no less than 30,000
men out of employ, and at St. Etienne,
Nismes, A"ington, &c. all places where
silk is made to a great extent, considerable
numbers of persons are also thrown
out of work.?Jour. Cutn.
The following we received from the New
Orleans Bulletin slip, by the Express mail.!
New Orleans, May 6,4837.
Wo ha?*e not seen the account of the
rnrifiirp nf thn rw pvirnn vodoaI
v ^ I. . %. ?- ...v nivMM V^OOCIi 1
The capture of the Mexican brig of war
by lite Natchez, of which we gave a state J
ment yesterday, is probably the commence- j
meut of protracted and irregular hostilities i
with our cidr vant ally and neighbor. This I
interruption to the friendly relations which
formerly subsisted between the two countries,
is seriously to be regretted at the present
critical juncture, however just the cause ol
offence on our part may be. Hitherto we
have relied chiefly on Mexico to supply the
drain ol specie which was made upon us by
cxportations to Europe, and now that these
importations are likely to become two or
three fold greater than they were, before
order to pay off the heavy balances which
have accumulated against us during the two
or three past years hy our excessive irnpor- '
tations, and also to refund the large amounts 1
of specie wrested from England in direct 1
violation of the laws of trade, by the unwise '
measures of our government ; the friendship 1
and commerce of our neighbor, is then (
more necessary to us thau any previous 1
period. 1
That specie will, for some time to come,
slip away from us fasti r than it came, we
have not tie least question; and the loss of '
the principal source whence our deficits
have always been principally supplied, may
place us in rather a strained condition. *
Yet, however much we may be called 1
lo sacrifice in a pecuniary point of view 1
hy a war with Mexico, the honor and dig- 1
nitv of our country urgently require that
!, Jl,....l.l i ?
>L oiiwum- uif iiiiKic promptly unci unhesitu- '
lirigly, unless full reparation be given for '
the re peated insults and injuries we have
sustained. Our lenity and forbearance 1
ias perhaps been too long exercised with (
i people who seem regardless of all the I
obligations which usually bind nations *
iftcr treaties of friendship and commerce '
lave been entered into, and a recourse to
larshcr measures, may,at least teach them,
that however unmindful they may he of 1
their own laws and obligations, a respect '
for the rights of other nations must be ob- 1
served. The weakness of Mexico has !
long shielded her from the condign "punishment
her wanton and gross violations
of international faith and anmity merited,
ind the security of this weakness seems '
[inly to have emboldened her to greater ag- 1
!*ressions. She has robbed our citizens, !
seized our vessels, insulted our flag, and
ipporently sought every possible means
of arousing our enmity, without once 1
seeming to fear that our ai.gcr could be
aroused. Whether she will listen to the
final appeal which has probably been made
t<? her before this, for satisfaction for the
numerous and oft-repeated injuries she
lias done us, we cannot tell hut the mad
ness with which she still continues to act,
we fear that no course will be left to us
but to inflict upon her the severe punish- 1
ment which her offences call for. She
must be whipped into a compliance with
her national engagements, and taught to
remember that though she may oppress
her own citizens, and deprive them of all
means of redress by the ilestruction of her
laws, the same course must not he adxipled
towards the citizens of those nations
among whom laws and the principles of
justice and equity are religiously observed.
An order was rccivcd yesterday, We
understand at the IJ. JS. Quarters Master's
Office in this city for the immediate transportation
of 3 Regiments and (5 companies
of artillery from the Florida service
to ('amp Sabine on the Snhine River. We
cannot divine what may be the object of
this sudden movement, unless to be in
some way connected with our difficulties
with the Mexican Republic. Perhaps the
Hon. Sec of War may have no other motive
in sending the troops to Camp Ka*
bine than to prevent the rapid desertion (
from some of the Southern Slates which is
said to he in progress. We were credibly
informed a few days since by a gentleman
direct from Natchitoches, there were near
201)0 persons?one half slaves?camped
in that vicinity, who were on their wav to
Texas. Many pla nters it is reported have
left their farms with a crop newly planted
and started for Texas with their negroes.
They had been deceived by the
treachery of the time into large purchasers
of lands, and, now that the bubble has
hurst, and they can no longer enjoy either
their imaginary wealth in the meamTof
paying their debts are fleeing to TejRs
with their negroes, as the only means of
saving any thing from the general ruin.
What a commentary does this present upon
this glorious attempt to provide the
country wit), a sale unchanging hard money
currency."
Wc learn l>y uii arrival last evening
from Tainpico that an insurrection of the
Pedetal party occurred at San Louis Polosi,
about the middle of April. The insurgents
attacked the conduct as coming
froin the mines to Tampico, but the nt-j
[lendant guards making a successful rcsis
tancc, the conductas retreated Lack to tlie
mines. It is further staled that a revolution
had also broken out in the state of
Zaratecas. The schr. Creole, which
brpught the intelligence has on board
$122,000 in specie, for merchants in thie
city.
From the A.1~? :
g w VWWMM^IVIM ?BUfi;iu?Vr?
We learn from a gentleman, James Kinzie,
Ksq, of this city, who has just ascended
the Illinois river, that a most melancholy occurrence
took place on Saturday, the 18th
ult. about five miles from its mouth, where,
through the obstinacy of the captains of two
steamboats, one of their boats was sunk, and
the lives of all the deck passengers, amounting
to more than twenty, lost, and the freight
and baggage entirely destroyed.
The captain of the Wisconsin, which was
then ascending the river, had repeatedly
stated, that if he should meet the Tiskilway
and her captain would not give him a clear
channel, he should run her down. This, it
seemed, provoked the captain of the other
boat, and he became as obstinately determined
not to turn out of his course. Both
boats met about 5o'clock in the morning, at
a time when all the passengers were in bed;
and steered directly for each other till wtthin
only a few rods, when the captain of the
Tiskilway endeavored, but too late to avoid
tlio concussion, and turning a little out of the
course thus gave a fair broadside to the ascending
boat, which took her just behind the
wheel, and she sunk in less than three minutes
after she was struck. The first notice
of their extreme danger, which the cabin
passengers received, was the screams of
those below, who were drowning, and with- ?out
even time to put on their clothes; they
merely escaped by jumping through the winJ
-i .? ... - "
uuws t?i me cabin, which, fortunately for
them, had been completely separated from
the sinking boat by the shock.
Mr. and Mrs. Garret, and Mr. and Mrs.
Pomeroy, of this city, were among the cabin
passengers, and were saved.
The captain of the Wisconsin is staled to
have acted, even to the ladies, in a most brutal
manner, having put them ashore barefooted,
at more than a mile and a half from
any habitation, and with nothing but their
night clothes on. Report says that the men
were even worse treated, as he endeavored
to prevent their getting on board the Wisconsin
at all.
A large sum of money belonging to one of
the ladies named, hadheen iccovered subsequent!
v, from the ladies' cabin; and one
l- 1-J 1-:
jvmiiuiiiiiu nuo lUllUII-UC UIIUU?II IO I1IIU I1IS
coat floating on the river, with his money,
amouting to about 84,000, in the pocket.
Fukman Institution burnt?Letters
received yesterday, by Express Mail,
bring the melancholy intelligence of the
destruction of this valuable institution,
situated near Winnsborotigh, Fairfield
D strict, S. C., by fire, tin the morning of
the 1st instant, and i't is thought one of
the students has been burnt to death, as .
he has been missing since the conflagration,
and some bones were found in the ^
ashes. The firo, we understand, broke ?9
nut about six o'clock in the morning, and 1 j
notwithstanding every exertion was made,
could not be arrested before the building r
was totally destroyed. Loss estimated
about 30,000. We could not learn whether
there was any insurance on the property.
The letter from which we get the above
intelligence intimates thai the school will
not be broken up, as the professors have
instructed the pupils to write home for
clothing, and that some building in the
vicinity will be made use of until another
can be built.?Georgia paper.
Small I'ox.?The Columbus Enquirer
of the 27th ult. says?"This alarming
disease which always scares more people
than it kills, has again made its appearance
amongst us. There are three cases
in the hospital and hopeR are entertained
that it will spread no further. Rumor
with its thousand tongues is already muN
tiplying the victims and representing our
City as one dying mass of disease. The
stale and worn out lies of by-gone days
are revived, with the intent to alarm the
fears of the people and keep them away.
All we can say is, that the patients are in
the hospital, a mile or more from the business
part of the city, and as long as the
disease is confined there, we fear no danger
from its influence, and see no good
reason why any body else should. Let
the city authorities do their duty, and the
citizens, be vaccinated, and there will be
but little danger."
Tiie IJ. S., vs. Morcak?Convicted
of Murder on the High Seas.?The
motion fur a new trial being over-ruled in
this case,Moragn was this morning brought
before the Court, to receive the sentence
of the law. Judge Baldwin addressed
: * i i.. _n* .:
?nv ft lounri III n manner uerpiy ain*nnij{?
He reminding hint that he had received
a fair impartial trial, l?y twelve jurors;
that he had been defended ably by his
counsel; that the court had charged mildy
in favor of his acquittal, ai.d that he hod
been found guilty, by which it was rendered
the duty of the judge to imI
ose the sentence of the law, however
averse it might be to their personal feelings.
lie then proceeded to pronounce
sentence of dentil on the defendant. l)u
ring ihe delivery of tliis short address,
rendered doubly affecting by its solemnity
of manner, the prisoner appeared deeply
agitated.
He is, we are informed, a young man,
or rather boy, of about 19 years, who
four years since left his parents in London
for some trivial offence, and betook
himself to the 6ca.