The Sun.
London, England, 1857-11-09 00:00:00

AMERICA.

(BY ELECTRIC TELEGRAPH).
LIVERPOOL, MONDAY MORNING.
The Asia has arrived with advices from New
York to the 28th October, and 98,274 dollars, and
2581. in gold.
The New York Courier and Engurier of the 28th
says :
" The demand for bills on Europe yesterday and to-
day is quite light. The rates are favourable enough to
remitters, but the extreme scarcity of money disables
most persons from purchasing. The indebtedness of
our merchants to England, France, and Germany,
is necessarily deferred in large amounts, and at the
same time heavy remittances of geld from abroad
are anticipated at this port. Bankens bills at
60 days on London to-day are abundant at 105 to 108.
Good commercial bills from southern cities, well-known
signatures are freely offered at 100, equivalent to 9.1 dis•
count. Some relief is looked for in this market from the
promised shipments of coin from England. It would be
better for us to rely upon our own domestic resources and
not add to the disturbance which is feared in Western
Europe. The question of the suspension of the Bank of
England and Bank of France is canvassed freely in finan•
cial circles here, and ouch an event is by some looked upon
as of slight moment. We cannot, however, but consider
eu h an event as a public calamity, one that would work
irreparable injury to the commercial world, and do no
possible good to any parties whatever. It is for this
reason that we hope the banks in England and France
will be fully sustained, and that the export of coin to the
United States will be loss than is generally mentioned.
New York will be looked to hereafter as heretofore, as
the pivot upon which the resumption will rest. A wise,
conciliatory, concerted movement on the part of the
banks of this city will, if adopted, relieve our merchants
and strengthen the (sillier. There were rumours to-lay
of several additional failures, but they were not authen-
ticated. Extension is the order of the day, and one wisely
agreed upon by creditors generally. There are very few
houses that have not found it necessary to ask and to
take time on their liabilities. The west and south in
turn exact the same indulgence from New York. The
former will he able to discharge their liabilities by means
of the large crop of the year ; the south will realise lees
from the new crop of cotton than was anticipated. It
is conceded that a heavy decline must occur in the mar-
ket values throughout Europe, and that manufacturers
will require a more limited supply than heretofore.
Gold was recently in pressing demand, but has now be•
come a mere drug, heavy in the market. The brokers
are paying one-half per cent premium for limited sums,
but this premium is nominal. Large amounts are offered
at the same rate and rejected. In Philadelphia, ex-
change on New York is quoted Si to 4i premium,
and draughts on Baltimore 3to 4 discount, There
is no reason for this discrepancy, there is no
variation in the broker's rates for time bills ; unex-
ceptionable paper at two to faur months is freely offered
at 2 to 3 per cent. per month, paper that would under
ordinary circumstances be acceptable to the banks, and
which they could now take with advantage to them-
selves. At last the money comes out of the banks, for
every bill discounted at the broker's lessens the bank
deposits. The stock-market to-day showed a decidedly
buoyant feeling, and most of the sales were made at a
large advance on the quotations of the past week and of
yesterday."
The latest quotations were as follows :—New
York State Sixes, 101 ; Virginia Sixes, 75 ; Mis-
souri Sixes, 67 ; New York Central Shares, 63 ;
New York and Erie shares, 10 • Reading Railroad
shares, 2-a ; Michigan Central shares, 40; Michigan
Southern shares, 81 ; Cleveland and Toledo shares,
271 ; Panama Railroad shares, 68 ; Illinois Central
shares, 83 ; Illinois Central Bonds, 751 ; Chicago
arid R. I. shares, 64 ; Milwaukie and Mississippi,
19 ; Galena and Chicago, 63 ; La Crosse, 64 •,
,Michigan So. New Stock, 20. The New York
commercial list quotes the rate for first-class notes
at 2,3, and 5 per cent. per month. In exchange
there was a better feeling, and at the close of busi-
ness sellers raised their rates. Importers were
buyers to a moderate extent, The transactions in
continental bills had been very limited. Exchange
on London, 102 to 106. The Bank statement was
more favourable than was generally expected. The
...Shipping and Commercial List says :
" The contraction of loans in the face of a gain of
nearly a million and a quarter of specie meets with but
little favour ; the city circulation has gone down rapidly,
which is owing mainly to the voluntary practice adopted
of substituting country money in payments across the
counter. The policy of withdrawii g the city notes is
not a general one, some of the banks holding it to be to
their interest now and on resumption to sustain a good
circulation of their own.
with the °the üb-
line is unexpectedly large, being
annex a comparison of the leading items, w
orfe revenue nl
ouaen is
are being
ng
natitlyiesnito, the depositve
Trarp,ia:i.luyryrebdaulca:dc,e.andThteheUperioteb.labSi
probabilities of
al-
ready discussed. The President, it is given out, will
oppose all money bills except those for indispensable
appropriations. Directions have been given to revise
and reduce all estimates, and the construction of Cus•
tons-houses and many other public works will be sus-
pended at an early date."
A private circular quotes exchange on London at
102 to 107. A letter from Washington says, " The
banks of the district of Columbia in meeting to-
day resolved to receive the notes of the following
banks as currency:—Bank of the Metropolis, Bank
of Washington, and Patriotic Bank of Washington,
Bank of Commerce, and Farmers' and Mechanics'
Bank of George-town, and all the banks of Balti-
more.
The failure of Ross, Mitchell, and Co., of To-
ronto is announced.—liabiiitias, $1,2500.
The Athenian, from Quebec for South Shields,
was abandoned on the 30th September; crew taken
to New York by the ship Patrick Henry.
A Canadian steamer had been wrecked on one of
the lakes, and 21 persons perished.
Ashes were improving—pot, G dole. 87ic. to
7 dols. ; pearls, 6 dols. to 6 dole. 12ic. There
was no demand for cotton, either for export or
home use, and with an insignificant stock quota.
tions were nominal. The demand for flour had
been good for the home trade, and with some sales
for export prices wero steady. The receipts were
'she, though light as compared with last year.
Wheat had been in demand for home use and
export, and prices ' had slightly risen. Indian
corn had declined. Iron quiet. Molasses
slightly improved. Crude turpentine steady.
Spirits of turpentine dull. Linseed oil dull.
Provisions dull. Sugar was steady and firm,
at a slight improvement in price. Tobacco dull.
Freight higher. At a meeting of cotton factors, held
at New Orleans, it was endeavoured to carry a re-
solution binding factors not to sell cotton under 15
cents., but there was no unanimity, arid the meet-
ing broke up without coming to a decision. Cotton
was selling at 10 cents for middling. The total re-
c ipts at southern ports were less by 187,000 bales.
14othing doing in exchange. Money unchanged.
A se-ere storm was raging at Boston. The entire
valley of the Mohawk was inundated, and much.
damage had been occasionied to agriculture' pro-
duce.

THE MEDITERRANEAN.

(BY SUBMARINE AND BRITISH TELEGRAPH.)

MALTA, Nov. 6.
Advices from Alexandria, to the morning of the
2d, report no tidings of the arrival at Suez of the
expected Indian and Australian mails.
The Dutchman, with a detachment of Royal
Engineers, from England, reached Alexandria on
the 31st of October, and the troops left.on the diy
following for Suez, where arrangements have been
made for housing them on board the Peninsular and
Oriental Company's coal hulk, Zenobia, until the
arrival of the Hiudostan and Pottinger. Those per
Austral,sian, which reached Alexandria on the
25th of October, continued on board, awaiting news
of the arrival at Suez of the Emeu. Should that
vessel not shortly turn up, the Peninsular and Ori-
ental Company's agent hoped to get them ofr by
the Hindostan and Pottinger.
Admiral Lord Lyons' squadron is hourly looked
for at Malta, having been fallen in with off Na-
varino on the Ist.

The Coqu4tte is under orders for Cagliari, to
convey a summary of the first Indian intelligence •
that may arrive.

The Elba has not arrived here yet with the CaEr
liari cable.

The Duke of Devonshire has left Chatsworth for Hard
wicke Hall.

PRINCE ALFRED'S VISIT TO THE ILLUSTRIOCS.—His
Royal Highness Prince Alfred visited the Illustrious
training ship on Monday. The young Prince, who, it
is supposed, will join the ship in March next as a cadet,
examined the drawings, workbooks, &c., of the naval
students, and appeared much interested in what will, it
is presumed, be his future studies. The Rev. W. R.
Jolley, who is the chaplain—not "chaplain and naval
instructor"—of the Illustrious, has charge of His Royal
Highness as his naval instructor.— United Service Gazette.
REPORTED DEATH OF LORD POWERSCOURT.--DUB-
LIN, Sunday. —lntelligence has reached the office of the
freeman's Journal announcing that a report which bad
been circulated of the sudden death of the youthful lord
is without the slightest foundation. He was suffering
from a slight attack of influenza, but he is now con-
valeseent.

APPOINTMENTS.—Dr. James Ogston has been ap
pointed the First Profe sor of Medical Logic and Medi
cd Jurisprudence in the Mariachel College and Univer
city of Aberdeen. Mr. Robert Brown Shaw has been
appointed Assistant Clerk of the Bills, and Mr. John
Walker and Mr. Wm. Robert HaycinOrdinary Clerks
of the Bill Chamber in Scotland.
WILLS.—The will of the Rev. Edmutd Melvin, M.A.
Chancellor of Saint David's, and of St. James's-place,
Westminster, has been proved in the London Preroga-
tive Court, under 20,0001. ; John R. Bousfield, Esq., of
H ,undeditch, 80,0001. ; John Edwards, Esq., of Braniff.,
ton Brian, 60,000/. ; Captain William Coote,• R.Ni
45,000/. W. R. Berryman, Eq., of Stoke Dameral,
25,000/. ; Thomas Lloyd, Esq., of Coedmere, 20,0001.;
Richard Andrews, Big., or Peckham, 18,0001. ; Mts.
Jane Whittaker, of Scot. Lodge, Norfolk, 50109.04

;1 MONEY MARKET

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