The Sun.
London, England, 1848-06-22 00:00:00

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[PRICE SD.

COMMERCIAL DISTRESS.

COMMERCIAL.
NEW YORK, JUNE G.—Cotton—ln our last we noticed
that sales had been made above our quotations. Since
then our market has been dull, and although holders
have not pressed the market, still prices are not in favour
of the buyer—our quotations, however remain as before.
The sales of the last three days amount to 1,700 bales,
viz.:—

Upland and Florida. M0b.,N.0. and T.
1,000 bales. 700 bales.
Inferior none
Ordinary to good ordinary 64 to 5i
Middling to good middling 6 to 6fr
Middling fair to fair
Fully fair to good liar ... 71 to 74
Fine nominal
Flour, &c.—Western canal flour is in good demand,
and prices are well supported; sales of Oswego, Michi-
gan, &c., are made at 4 374 dolls. to 5 624 dolls.; pure
Genessee and good brands of Ohio at 5 874 dolls. to 6
124 dulls., common southern kinds, 6 dolls. to:6 12k
dolls. Moderate sales of corn meal have been made at
2 624 dolls. 6;000 bushels Milwaukie and Ohio wheat
sold at 1,006 dolls, to 1 124 dolls. ; 2,000 bushels of
Canada wheat (for export) at 1 15 dolls, short price.
Cdrn is plenty, but shippers do not appear to be willing
to meet the views of holders, and the sales to-day
have been limited; a few lots were taken for distilling
at 500.

Ashes continue in fair demand at 425 dolls. to 4 31
for pots, and 5 55 dolls. to 5 37i fur pearls.
Provisions are steady in price, with moderte sales.
Drudge Whiskey is held at 22 cents, and States Prison
barrels at the same rate.

Rough Turpentine is held nominally at 2 dolls. 50c.
per barrel of 2801hs. Spirit of Turpentine is firm at 34
to 35 cents cash. Two cargoes of North Country Rosin
sold at 65 to 75c. delivered. Tar is in fair request at
1 doll. ?sc. to 2 dolls.

The receipts of Flour since the opening of the navi-
gation amount to 302.880 barrels.
The rates of Freight are—To Liverpool, for cotton in
square bales, 5.32 d per lb.; Flour and Turpentine, ls. 6d.
to is. 9d. per barrel; grain, sfd. to 6d. per bushel. To
London: 25. 6d. per barrel for flour, and other articles
in proportion. To Havre: nominal. _
_ _

`ES

RATIFICATION OF THE TREATY OF
PEACE AT QUERETARO.
LIVERPOOL, WSDNESDAE.
The royal mail steamer Hibernia, Captain Shan.
non, arrived in the Mersey this morning at eleven
o'clock, with the usual mails, and about 40 passen-
gers. She has also 58,0001. in specie on freight. The
dates of the Hibernia are—the 7th from New York,
and the 9th from Halifax; the steamer Acadia arri-
ved at Halifax on the 7th instant, in eleven days from
Liverpool.
The United States arrived at New York on the
31st of May, and the Niagara at Boston on the 2d
of June; the former making a passage of 134 days,
and the latter one of 12 days and a few hours, in-
eluding her detention at Halifax.
There was an active business doing in the export
of cotton, the news from Europe by the United
States having given somewhat an impetus to the
market. In the grain markets business was very dull,
and in dry goods and business generally great depres-
sion was universally complained of.
The Hibernia brings the welcome tidings of the
ratification of peace between the United States and
Mexico by the Congress at Queretaro on the 19th
ultimo. The intelligence was brought by the Edith
steamer, which reached New Orleans on the 30th of
May. It is thus given in the Courier and Enquirer
for Europe :
" The treaty was ratified by the Chamber of Deputies
on the 19th ult., at a quarter past six o'clock P.M. The
vote on it was 51 to 35. In the other branch of Con-
gress there is no doubt but that it will be approved by a
comparatively much larger vote. Orders had been
issued for the calling in of the outposts of the army, and
they were expected to march for the coast between the
Ist and 15th of June. General P. F. Smith has been
appointed superintendent for the embarkation of the
forces at Vera Cruz, and he was to leave the city of
Mexico,_ for the purpose of entering on this duty, on the
24th tilt."
The passing of the treaty did not take place with-
out opposition, the minority threatening to leave the
chamber, and thus destroy the quorum. This threat
they did not, however, carry into effect.
General Herrera had not been chosen President 'as
it was expected he would be—but Pena-y-Pena had
been elected President ad interim, and it was thought
that Herrera delayed accepting the office until the
treaty was ratified, that he might enter upon the
Government without any of the odium which might
attach to that act.
The vomito was raging at Vera Cruz.
Number of meetings in favour of the different
candidates for the presidency were taking place in all
the large towns.
Trist was coming to Washington by the lake
route, and, it was understood, would report himself
to the President as a military prisoner—a rather
singular position for him to be placed in, says the
Courier and Enquirer, considering that the cause of
his arrest is the making of the treaty of mace the
senate and the country are so anxious to ratify.
With regard to money and commercial affairs at
New York, the Courier and Enquirer says :
The stocks of this state are in somewhat more de-
mand. Of the 3,000,000 loan, at 7 per cent., one half is
payable next month. Of that amount some 340,000
dols. have been already redeemed—leaving to be paid
1,228,730 dols.—to meet which, according to the comp-
troller's report of last January, there would be on hand
417,212 dols. The comptroller, under the authority of
a law to that effect, issued a circular on the sth of May,
proposing to the holders of the Seven per Cent. Stock
an exchange at par for Five-and-a-Half per Cent. Stock,
redeemable in 18.55. The holders not having manifested
any willingness to accept the alternative, the comptroller
has advertised for proposals for a six
per
cent. loan, re-
deemable in '55 for 800,000 dols., the sum lacking, to
pay off the balance of the Seven per Cent, Stock,
He
tviso invites proposals to the 27th inst., for another loan
of 489,817 dols., at six per cent., redeemable also in
1855,—t0 provide for other wants. These amounts, of
more than a million and a quarter, are to be added to
the sixteen millions which in all this month will be
bid for on the United States loan. Capitalists are
already preparing for these operations, and money
is accumulating in the banks. Owing to the.
continued expos t of coin, bills on England are du'd,
although the rates remain high; 111 is the asking peke,
but few sales are effected. The shipment of cotton is
active to Great Britain, while in bread stuffs little or
nothing is doing. The market for flour has remAined in
a quiet state for the last week. The receipts have been
free, but with a good home demand; the stock does not
accumulate fast, and prices are well maintained, particu-
larly on the lower grades. The range of price has been
at 5 25 to 5 50 dols. for all the lower grades, and 5 75 to
6 dots, for the better kinds of Genessee, but at the close
there was none to be had under 5 50 dots. for Ohio and
Michigan, and 6 to 6 121 dols. for the good Genessee.
One or two salts of Canaolati have been made at 4 87i
to sin bond; Georgetown, Baltimore, and Richmond
Country 'are selling at 6 to 6 25 dols.; rye flour, 3 50;
,aod cow mea1,..2.56i to 2 62fr for Jersey. SV4ea4 Islra
rived more freely, and is selling at 110 e. to 120 c,
for (Thio mixed, and 135 c. for Genessee white. ltye
sells at 68c. to 70c. Oats are dull, at 45c. to 47c, tor
northern. For Indian corn there has been an active
demand for export, at 51 to 55e. for mixed and yellow
western; .55 57c. for white southern and Jersey; and
58 to 61c. for Jersey and southern yellow, closing at 59
to 60e. fur the latter, showing an advance of several
cents. Freights have also improved, the late engage-
teems having been as sd. to 6d. per bushel on corn to
Liverpool.

iIAiANNAH, MAY 27.—The prices of sugar have gra-
dually become lower, as the stocks accumulated, and
planters became convinced, from the advices of the
European markets, that they could not sustain their for-
mer pretensions. At the reduced rates a fair inquiry
has shown itself, which slackened within the last few
days. The English steamer of the Ist instant has just
arrived, and we have to see what influence the accounts
it brings will have on our market. In the meantime we
place the quotations as lollow :—Assorted kinds for
Spain, 6id. to 9kd.; whites, good to fine, Bd. to Bid., or
225. 9d. to 245. sd. free on board per English cwt.; yel-
lows, superior and Floretes, sid. to 6d., or 17s. 7d. to
18s. Bd. ditto; ditto, good and tine, 4d. to 5d., or 14s. ld.
to 15s. 10d. ditto; Cucuruchos, 3d. to 3id., or lls. 2d. to
I ls. 9d. ditto. Little or nothing has been done in Mus-
covados, and we quote 4 to 41 rs. for fair and good qua-
lity. 86,000 boxes of sugar have gone forward, com-
prising 20,000 boxes to the United States, 7,500 boxes to
Great Britain, 32,000 boxes to Cowes, 8,400 boxes to
Spain, and 18,000 boxes to other places. Some purchases
of molasses have been made at rs., but many dealers
ask i rs. The business in coffee is extremely insigni-
ficant.

THE QUEEN'S ACCESSION.—Tuesday being the
anniversary of the accession of her Majesty Queen Vic-
toria to the throne, the day was observed throughout
the country with the usual demonstrations of loyalty;
the royal standard was hoisted at the churches of St
Mary Abbotts, Kensington ; St. Margaret's and St.
John's Westminster; Saint Martin's-in-the-fields, Som-
erset House, the Tower, Greenwich Hospital, the Ar-
senal at Woolwich, and Tilbury Fort. Throughout the
day the bells from the various parishes of the metropolis,
rang " merrie peals," and at one o'clock a grand feu de
joie was fired from St. James's Park, the Tower, Tilbury
Fort, and the Arsenal at Woolwich; the royal standard
was also hoisted at the Queen's Theatre, but no illumi-
nations took place in the evening. The Queen will hold
a drawing-room to-clay, at St. James's, to celebrate
the auspicious event. _ _

SOUTHAMPTON, JUNE 20.—The Oriental Com.
pang's steam-ship Ricon, Captain Moresby, left the
docks at three P.M. this day, for Alexandria, with the
Bombay and other mails, also 50 passengers, among
whom is Admiral Sir Francis Collier, to take command
of the India station, with his Flag-Lieutenant, Secretary,
and suite. Lady Collier remains in England. The Ri-
pon has a full general cargo. She looks a most splendid
vessel now that she has been lengthened, and the finest
ship now in the Oriental Company's service. The
Pacha, from Italy has not arrived, she is hourly ex-
pected, being over due two days. The West India
packet Thames, which has been detained since the 17th,
by order of Government, is expected to leave to-morrow,
after the day down mail train.