The Sun.
London, England, 1857-11-14 00:00:00

MERICA.

SOUTHAMPTON, Nov. 13.
The United States steamer North Star, Captain
Lefebre, arrived at Cowes this afternoon with ad-
vices from New York to the 31st ult., being two
days later than those previously to band. She
brings 10 passengers for Southampton,l4 for Havre,
and 14 for Bremen, and a small cargo, but has no
specie.
The following is extracted from the money article
of the New York Herald of the 31st ult.:—
" The stock market to-day was an improving one from
the opening. With mere activity in all the leading rail-
road stocks better prices ruled. At the first board Ohio
Sixes, 1860, advanced per cent. ; Missouri Sixes, lf ;
Erie bowie, 1871, 21 ; ditto, 1852, 1 ; New York Cen-
tral Railroad, 1 ; Elie, ; Reading, 11.. Pennsylvania
Veal fell off 1 per cent.; Cleveland and Toledo, ; Michi-
g►an Southern, preferred, 2 ; Galena and Chicago, 1.
Illinois Central Railroad opened at 82 and closed at 83
per cent., with moderate sales. All the most prominent
Western Railroad stocks appeared to be in demand, and
were fr.ely offered. Almost the entire movement in
the market is co Jilted to the brokers. Outsiders may
be picking up some small odd lots for investment,
but there is a strorg bull' movement, which
is resisted by a few determined epirite, who
are not satisfied that we are yet nut of the
wood in our financial troubles. The leading bulls' come
from the old • bear' party, but there aro a few of the old
grizzlies left, who have an abiding faith in the dishonesty
of managers of incorporated companies generally, and of
railroad companies in particular. The earnings of our
railroad companies for the month of October this year
will be far behind those for the same month last. We
understand that the New York Centralreceipts will show
a decrease of more than 100,000 dole. The Harlem re-
ceipts for the reonth will he about 90,000 dole., nearly
one-half of which will, wo are informed, be net incense.
This road is now well managed. The mil-age has been
largely reduced, and a great saving in this way effected.
On the same amount of receipts the net earnings are
now much larger than heretofore. The whole secret
of this can be foue—l in the fact that there is now a
practical man at the head of the management, and he
seems to know how and where to save money without
injuring the efficiency of the road. We want active,
scientific, and practical men as presidents of our rail-
road companies, and not fancy financiers. Let a finance

committee of the directors attend to that, and let the pre-
sident attend to the actual operating affairs of tie line
of route. At the second bcard the market was rather

weak, and for some railroads stooks cicis;ciheaey. New
York Central Railroad decline 4 per cent.; Reading
li ; Erie Railroad advanced i per cent. ' • Cleveland and
Toledo i. Tae movement in
_Erie this afternoon was to
some extent, and the sales were principally for cash. The
most irregular and uncerta'n stock oa the market just
now is Reading. It runs up and down 2 and 3 per
cent. without the slightest difficulty. The only State
stock sold this afternoon was Missouri Sixes, at 69 to
691 per cent. The prompt and decided course pursued
by the Governor and Legislature of Missouri in pro•
riding for the payment of the January interest on the
public debt, independent of the different railroad cum-
panics, awl for the prompt payment of interest when
due, for all time, has had a faveurable effect upon the
market, and will soon place Missouri State Sixes as high
upon the list as they ever were.
"The banks of New ()deans on the 19th were it is be-
lieved, in a stronger position, and were anticipating the
receipt of $4OO 000 in coin by the Cabawba from Havan-
na!), and $40,000 by the Philadelphia. The Bank state-
rcEnt for the week discloses a considerable decrease in
every main item, the precise changes being as follows;
, Decrease in short loans
Decrease in specie
Decrease in circulation .. 1,332,025
D. crease in deposits .... 2,058,586
Decrease in exchange 105,166
Decrease in amount due distant banks 53,905
Decrea.e in deposits proper
" The officers of the Connecticut banks are to hold a
convention at Hartford, next Monday, to take into con-
sideration the proposed cutting loose from the Suffolk
bank, and to see what they can do to help their cus-
tomers.

" The interest on the State debt of Pennsylvania, due
Feb. 1, 1858, will, we understand, be paid in specie. In
the Bank Sespeneien Law passed by the Pennsylvania
Legislature, it is stipulated that the deposits by the State
Treasurer, or to the credit of the commonwealth, in the
several banks and other corporation. and all banknotes
which are now or may hereafter be in the Treasury,
during the period of suspension, shall, from time to time,
on demand of the said Treasurer, be paid by the said
banks, or other corporations, respectively, in specie, in
sueli amounts as may be required by the Treasurer to
enable him to pay the interest accruing on the public
loans of the commonwealth.
" rho dry goods trade the present week has exhibited
rather more vitality than has been witnessed before since
the panic set in. The first auction sale of importance
since the panic came off on Wednesday, the 28th inst.
The sale comprised an escorted and valuable cata-
logue of French goods of late importations, chiefly
by Messrs. Curtis and Co. The terms of the sale
were four mouths for approved endorsed notes, payable
in the city of New York, for all sums over 100 dole.,
cr 5 per cent. discount for cash. All bills under 100
dole, to be settled in cash without discount. The cata-
-1 sgue comprised about 725 lots. The sale drew a good
company, and the bidding was in many cases quits
spirited. Some lines of the cheaper qualities of silk.,
such as eel for $1 or less, were wanted, cud were quick
of sale at steady prices. Common styles of goods, in-
cluding cottain plaids, &c., such as were dull before the
panic set in, were heavy, and several lots were passed.
Broche shawls and some lines of mousseline de laine were
sold at fair prices. The sale, however, taken as a whole,
was said to be about 10 or 16 per cent. below the prices
obtained for similar goods sold by auction earlier in the
season, or before the pressure came on. One or two
sales of considerable magnitude are to come off next
week, one of which is to comprise a catalogue of French
goods, imported by a leading house on six months'
ci edit. A heavy sale of cotton domestic sheetings
and shirtings is also to come off next week. The
j ebbing trade has been irregular this week, some
days looking brighter and promising, though late in
the season, quite an improvement in business,
and again becoming dull and unsatisfactory. With
some exceptions, with regard to certain localities,
collections were coming in rather better than what might
be expected. The disposition of the large auction houses
to resume sales at a credit of four and six months was
considered to lie a token of returning confidence. The
cards still appeared in front of wholesale dry goods
jobbing houses offering to sell by retail at wholesale
price.• These curds were also hung out by wholesale
clothing houses, offering to sell at tremendous reduc-
tions in prices.' This course of the wholesale houses
have been very injurious to the city and adjacent country
retail trade, who had laid in supplies before the panic
set in. The export trade of American piece goods con-
tinued light. The domestic tee le in American cotton
goods was raodeiate, and prices without change of
moment, while sales were light. The auction sale next
week will be some test of the market prices. Woollen
goods were heavy. The decline in wool has had a depres-
sing influence both upon manufacturers and upon prices.
The depressed condition of the wholesale clothing trade
hes caused certain lines of woollen to be neglected
and prices depressed. Fancy goods of nearly all
descriptions have been less active and the trade dull.
Should the present stock of American goods be much re-
duced, and cotton decline in price. we may expect to
witness ere bug more or less resumption of work by
Ees'ern mills, many of which have been driven to work
short time, or have suspended operations."
The Express of the 30th says :--
"The most discouraging news we have to-day is from
New Orleans. The cotton factors are in trouble, and
money is no easier. The $300,000 in specie we sent them
yesterday by the Black Warrior, will be something to
mend matters. Canada is feeling the pinch. From To-
ronto we learn that Messrs. Ross, Mitchell, and Co.,
importers, have failed. Their liabilities amount to about
$1,250,000. And the worst of it is, that their failure
will be likely to pull down many country houses. The
reported failure of Mayor Hutchinson i. incorrect."
The Philadelphia Press of the 30th says :--
"The Collector of New York and others capable of
giving reliable information state that it is their opinion
the receipts at New York from Customs will run up in
three or four weeks hence to the rate of 100,000 dollars
a day, and that the receipts at other porta will increase
in proportion. In this event, then, there will exist no
necessity lot the Government to negotiate a loan or to
issue Treasury notes ; the revenue from Customs will be
ample for the economical administration of the govern-
mod! Nor will there exist any ground for refusing to
carry on works for which appropriations have been al-
ready made, if any such design was ever contemplated
by the Administration.
The Hartford Times says the following Connec-
ticut banks aro still paying specie :
"New Haven Cuunty—Meriden Bank, Meriden
Home Bank, West Meriden.
" Lichfield County—Norfolk Bank, at Norfolk; Hurl.
butßank,"Hartford
County—Connecticut River Banking Com-
pany at Hartford.
" Middlesex County—Middletown and Central
Banks, Middletown ;
Bank and Nest W
East Haddam and New England
Banks, East Haddam ; Saybrook Bank, Essex ; Deep
River Bank, Deep River. The bank at C inton and the
Middlesex County at Middletown are the only two in the
' county that do not pay.
" New London County.—New London Bank, New
Lo don ; Colchester Bank, Colchester."
Tho Hartford Press says that from six manufac-
turing establishments in that city no less than 700
persons
have been discharged, and more have been
put on short time.
In Boston, as in New York, wholesale dealers in
silk and millinery goods have decided to limit
credits to four months. Tho dry goods houses are
reducing thfir prices.
At Wheeling, Virginia, the Belmont, La Belle,
and Missouri It on Works have determined to sus-
pend.
At Brownsville, Pennsylvania, upwards of forty
men have been discharged frolu Snowden's foundry