Morning herald. [volume] (New York [N.Y.]) 1837-1840, 1837-06-13

OF money in the discount of bills has forced capital
into the funds An Improvement has, consequently,
occurred IN the prices both of stock and excheqser
bills. The circulation OF the bank on Wednesday mad
reached l9,000,000L; which is upwards of half mil
hon higher than the average circulation OF the last
quarter, published in the Gdzette Saturday. 1T
is believed that the bank will soon be compelled to
adopt some measures for reducing this large amount
OF circulation; from the present state OF The foreign
exchanges, any increase of premium upon gold IN
France would render the expectation OF gold more
profitable remittance than the usual one by bills of
exchange Advces have been received from New
York 10 the Goth ut and we regret TO say, that they
are not of cheering tenor than those recently
received from the United States. II does not appear
taken place. that any change for the better could
| be speedily anticipated. No extensive expectation of
| the precious metals from America TO England can be
reasonably expected, for some time. The American
debentues still continue in favor and generally
sought at prices nearly the those of last week
1t wac expected that the packet recently arrived
would havs brought further supply of these securi
| ties; but none have been sent.
| The exchanges yesterday showed rather tendency
| to advance again, except that on Hamburg; there
were not many bills offering, yet the supply
| than adequate to the demand. We attribute this al
teratlon to the non arrival of the usual supply of
American Bank Bonds; our Continental neighbors
have either sent us all they had or begin to have
| batter opinion OF them as an investment The
changes also influenced by the rise in Spanish and
Dutch Bonds on the other side rendering 1t unproft-
able TO send them here. Unless something of this
KIND occur 10 support our quotations, it quite certain
the Bank Directors must have recourse to strln-
| gent measures again.
These American Bank Bonds seem to increase in
favor with capitalists; there are not many offered for
sale, and the value of them advances steadily, not
wlthsandlng the successive arrivals by each packet
The United States Bank Bonds which were originally
sold at SO and a. now worth $751; and those of the
Morris Canal Company have advanced to 99! No
doubt we shall have more abundant supply when
the news arrives out OF the favorable reception they
have met with in our market.
With regard the general state Of trade and credit
IN London we cannot perceive much improvement,
unless II be IN this waythere fewer risks and en-
gagements pending, consequently much less alarm
and Apprehension, and scandal is not busy for
merly Doubtless every one Is contracting his affairs
within the narrowest bounds possible; and one day.
when the storm is quite blown over we shall be sur
prsed at the tnidity of our aeighbors.
LIVERPOOL May l5.-The packe, ship Westmin
ster, from New York to London arrived off Ports
mouth on Wednesday BY this vessel advlces have
been received from New York to the 10th ult., and
we regret 10 state that they by of en-
couraging description. The pressure for money con-
tinued Hnabated and from the 10th TO the 10Th ult
not less than twenty eight failures became known in
New York. number of them, however, being of
manufacturing establishments in the New England
states, including two considerable JOINT stock
panles IN Providence. Amongst the failures in New
York was one of house connected with highly re-
| spectacle firm in Liverpool.
The importers OF English goods were generally I'M
able to make renlttances by this packets and we be-
lleve she brought very little beyond 000l ia specie
Some Of the letters state that the merchants were
talking seriously OF permitting Their custom house
bonds TO lie over in order that they might be enabled
TO meet their blls and that strongly re-
commended by the newspapers. IL was presumed
that the government, with its large surplus revenue
would not, under existing circumstances be inclined
to enforce the payment OF the bonds IN the usual
course.
The Oxford the New York packet Of the 18th nit.
| arrived al Liverpool on Monday The Columbus and
the Sheridan which sailed from Liverpool on the 18th
OF March, and which took out very unfavorabe ac-
counts, reached New York the 18th. The ac-
counts which those vessels carried out had increased
the difficulties Of the merchants. Several large fai-
lures had taken place. and the price of cotton and OF
stocks continued TO fall
The private letters by the packet are generally
gloomy IN their statements and forebodiDgs. The
worst the writers thought, had not taken place. Mo-
ney, for investment was more abundant than il had
bcen but there was great difficulty in obtaining sa-
usiactory security from borrowers
AWFUL CALAMiTy-THiRTy-oNE LIVES LOST
MOLD, Wednesday, May le.-This town and its
nelghborhood have been thrown into a state of the
most distressing excitement by accident which
happened today at Arsoed Collicry, belonging TO
Messrs. Hampton d Co. Ii appears that, during
last week. an increased suantly of water had appear
ed in the underground workings TO the north, and
which was supposed TO issue out Of some old work
~
the pumping had been able to cope with il, il
was not supposed 10 be dangerous but on the work
men going down this morning TO the pit on the east,
il was found that the water had increased material
ly, that The underground agent upon arriving the
spot about nine clock, gave immediate orders to the
men 10 leave off work and proceed to the surface.
The order had scarcely been given before the roaring
OF torrents of water was heard, and the men, TO the
number Of eighteen by dnt Of hard running got the
surface. TIE water was, IN the meantime, running
past them knee deep, and with great mpeuosity, 10
the engine pit, which is a level OF the coal There
arc extensive workings connected with the engine PIT
10 the west, and the men employed there TO the
Der OF thirty, not being warned of the imminent dan
ger, had with two exceptons) opportunity of at
tempting % escape before the had risen too high
| 10 enable them TO reach the pit The two men who
escaped were near the pi, and climbed the pumps
beyond the reach of the water while the remaining
twcnty-elgh too nr off 10 render escape possible
The engine immediately set 10 pump on its fall
stretch, but the water had reached from twelve 10 ff-
teen yards ~ the pit. The colery bank has in the
meantime, presented the most heart-rendns scenes,
by the parents wives, children, and other relatives OF
the poor fellows, giving vent TO their grief and lamsn-
iaons, and others again, IN the midst of their tears
clinglng 10 the last ray of hope.
SPArN.-Considefablc reinlorccmens having been
sent 10 General Evans, he was Obliged to get posses
sion of Carist positions 10 obtain quarters for
his troops. He attacked aud carried The little village
Of Loz0a the men Of the Legion behaving with great
gallantry Even the Carst correspondent Of the
Morning Post admits, thatit was impossible for any
troops 70 exhibit more steady bravery. Letters from