The Sun.
London, England, 1853-09-01 00:00:00

COMMERCIAL INTELLIGENCE OF NEW

YORK.

The advises from New York this week confirm the
correctness of the anticipations that an improvement in
the stock and money market would occur immediately
after the new law regarding the publication of weekly
returns by the banks should have come into operation.
Although the pressure for accommodation was still great,
there had been a marked restoration of confidence, and
in many descriptions of speculative securities, a reco-
very of about 3 or 4 per cent. is observable. The re-
turns just issued of the 55 New York banks show a
total circulation of 11,500,000/., and specie to the
amount of 2,150,000/. The contraction effected within the
week preceding their publication was equal to 650,0001.,
and the fact that in the face of this sudden movement
not a single failure has been announced, either among
commercial firms or at the board of brokers, is
referred to as furnishing strong evidence of the general
soundness of the trade of the country, of which there is
another indication in the excess of the imports of specie
over exports since the commencement of the year. With
regard to the deposits of bullion in the sub-trea.smies
throughout the Union, a statement just made up to the
26th of July showed the amount at that date to have
been $22,896,306, or about 4,580,0001., and a steady in-
crease has subsequently taken place. The offer of the
Secretary of the Treasury to purchase with a portion
of these funds 1,000,0001. United States' Sixes at
121 had not been successful, only about 100,0001.
having apparently as yet been been brought in, while
the firmer tendency of the market was likely to
check any further supply. In relation to the probable
consignments of grain to this side, although the best
accounts received from the London Corn-Exchange
were those of the 6th of August, which showed a slight
tendency to reaction, a confident feeling was enter-
tained that an increased shipment would continue to
prove profitable, and there was, consequently, a good
demand for that purpose. The crop of wheat had been
secured throughout the country, and the result was a
more than average yield, while the quality is alleged
never to have been surpassed. The exports to Liverpool
during the week just ended had been 87,114 bushels,
against 18,209 bushels in the corresponding week of
1852, and there can be little doubt that the late ac-
counts from England will stimulate the transmission of
augmented quantities, which will affect the rate of
exchange, and temporarily diminish the further remit-
tance of specie to this country. In the general busi-
ness of New York it appears that the demand
for manufactured goods was well maintained, and
that, notwithstanding the high value of money,
prospects were considered favourable. It appears
that the imports of railroad iron from the commence-
ment of the year to the 13th of August had
amounted to 483,132 bars, valued at 650,0001., against
289,321 bars, valued at 227,000/., in the same period of
1852. There was no later intelligence from California.
At New Orleans business was almost entirely suspended,
owing to the yellow fever, the deaths from which. now
amounted
at
daily t
the
eo nearlyend o f
May 29 0
Ipersons.oo had
dSbinee Since
ne
attacked,
lt scom-
mencement
of whom 3,039 had died. Later accounts
.had been re-
ceived from Mexico, but their precise date is not given.
The Government are said to have made a proposition
for a loan of 3,500,0001. on the security of Church pro-
perty, which had called forth considerable opposition.
Mercantile affairs were in an unsatisfactory state, and
several failures had taken place in the provinces, among
which were those of Arbida and Co., of Zacatecas, for
25,0001.; Valenzuela and Suarez, of Silao, for 16,000/. ' •
and M. Villanueva, of Guadalavara, for 20,0001. From
the Texan frontier the indications still show that any
lengthened state of peace is improbable, quarrels with
the American settlers for alleged aggressions being of
constant occurrence. An affray of this nature had just
been attended with loss of life, from an incursion of
Americans to rescue one of their countryman who had
been apprehended for some offence by the Mexican au-
thorities.

.MANNING SHIPS IN THE TYNE.—The committee ap-
pointed at the late meeting of shipowners recommends
to the owners of shipping property, in a circular ad-
dressed to each shipowner, " not to employ any mas'
ters on board their vessels who are members of the
Seamen's Association, as (the committee remark) they
are informed that there are many masters of ships who
are themselves members of the Seamen's Association,
and that they either assist or connive at the present
offensive proceedings of seamen."—Shipping Gazette.