The Sun.
London, England, 1857-11-06 00:00:00

A ILI' R CA.

SOUTHAMPTON, Nov. 5.
The United States steam-ship Vanderbilt. Capt.
Edward Higgins, arrived at Cowes this -Morning
from New York, which she left on the eveuing of
the 24th ult. Her depa,rtrre was delayed for six
hours, expecting to bring the mails of the Collin's
steamer Atlantic, which had met with some trifling
accident, but she did not bring them. The Atlan-
tic was to leave for Liverpool on the 26th.
The Vanderbilt brings 183 passengers for South-
ampton and Havre, but has no specie. Her arrival
off Hurst was telegraphed at 9 a.m., but the small
steamer, with her passengers, &c,, for this port,
did not arrive here till after 2 p.m. The delay was
caused by the Vanderbilt touching the ground at
the Brambies as she was making Cowes, there being
a very dense fog at the time ; but she fortunately
got off again easily without sustaining any further
damage than three hours' deteni ion, and has pro-
ceeded on to Havre. She has had very rough
weather during the voyage across the Atlantic.
The Jason, screw steamer, from Southampton,
arrived at New York on the 23d, having experienced
during the passage a series of heavy gales from the
westward, with a sea running the equal of which
had not been seen by the oldest seaman on board.

Despatches had raached Washin ;ton from Col.
Alexander, commanding the advance of the Utah
military expedition—the first received since the de-
tachment left Fort Leavenworth. Col. Alexander
and his command, consisting of eight companies of
the 10th Infantry, had marched a distance of 620
miles within the time allotted by the orders issued
by General Hanley. The soldiers had enjoyed ex-
cellent health, and the loss of animals had been
but trifling.

The United States' surveying-ship Arctic, Com-
mander Berryman, arrived at New York on the
22d. She had been absent over three months,
making surveys along the coast of Newfoundland
connected with the Atlantic Telegraph scheme, and
deep sea soundings and thermometrical observa-
tions in the Gulf Stream.

Inreference to the Ohio State election a despatch
from Cleveland of the 22d says :
" The official returns from 72 counties have been re-
e ived. Chase's majority, official and reported, is 2,027.
The indications are that the Senate will stand 15 Re-
publicans to 18 Democrats ; and till House, Republicans
46, Democrats 57."

suffice to fill the vacuum ceused by depreciation and
actual losses. It is well known that some of our largest
railway loons have been neeeotiate,tl in London by the
Anglo-American 'banking hence:?, aod it is also well
known that they are direct holders of large amounts of
our most worthless railroad securities and bonds, which
are not worth to-day 10 cents on the dollar, and ranked
as the lowest class before this revulsion commenced,
Those houses wilt be sorely tried by this panic and pro-
stration. The class of houses In London and Liverpool
that will feel seriously the state of our markets are those
directly end indirectly connected with our foreign im.
port trade. Those conce ns are pretty well distributed
and pretty well backed up with capital. They are
located in all the principal cities of Great Britain,
and are able to stand a pretty good bleeding. We do
not fear much for this class of merchants, for the aggre-
gate amount due from this Aide in the way of trade is not
large. It must be borne in mind that our actual indebt-
edness on our last year's foreign trade was not at the
close very heavy. Payments up to the last moment be-
fore the revulsion commenced were liberally made, and
we have only to point to our immense exportation of
specie during the year ending June 30, 1857, for a con-
firmation of this statement. The balance due at the close
of the old year, and the obligations incurred on the new,
are so well distributed among the manufacturers of
Bu-ope that we do not look for any disastrous con-
sequences to that class. In 1837 the foreign import
trade of the country was carried on through credits with
three great banking houses in London and the re-
vulsion brought thorn down without ruining any of
the manufacturers of Birmingham or Manchester. This
debt is now better distributed, and withal cannot be very
large. The railroad interest is a verydifferent affair. The
full indebtedness of the different railroad companies is
represented on paper, and that paper flcats about from
hand to hand as so much currency, Cr settles down in
the hands of capitalists and others as so much productive
property. So long as its credit and negotiability is main-
tained, its value is real, and represents actual wealth. It
will pay debts from one man to another, and serves ma-
terially in adjusting balances in money matters. Tile
moment this enormous interest became discredited, that
moment hundreds of millions of property became nomi-
nally valueless, and all these widely extended banking
houses and business houses generally dealing in and
based upon this class of securities found themselves at
once without support. We have seen the effect of the
collapse in this propsrty on this side of the Atlantic. It
will not be many weeks before the full effect of such an
utter annihilation of value will be seen upon the same
class of banking houses in London." •