Mobile daily commercial register and patriot., 1841-05-21
Rrem e.r Copmsrcial cerrsspqndc.lt.

spoken, nothing definite can be ascertaned. The general opinion is that she either broke her back, or was hogged at sea and went down with all on board. IL s undoubtedly that her frame was so much strained to have led apprehensions ot such disaster before her departure from this port. The matter win probably be put at rest as soon as the British Queen arrives, she has now been out days
 The state of commercial matters in this city does nc seem to have varied in any material degree. The a. mount of business doing is small, and the state of the markets generally is very healthy In 1887 -3s many new firms commenced business on the cash system, and in 1899 did very lucrative trade; gra- dualy, however, their cash customers fell behind hand in most cases became short credit customers, and during the fictitious excitement of last fall, con- sequent upon the election, and the promised resump- ton of the Southern b.aks their credits were eten- ded, and now since the failure of the Bank, and the reverse which has ovsrtaken the markets, causing fall in prices of goods, collections have become very difficult, and much pressure is felt in consequence in certain quarters. This appears to have effected mostly the obbers, who sell the retail city trade
 But little produce has yet been received from the canals, although vast amount IS on the way. The tolls received at tide water are enormous. Dealers from the country buy, however, sparingy, and prices fgoods generally show disposition to rise. Smce the late China news we have had almost daily sales of teas, and the prices have gradually gone down, and probably l2 to l5c per ID all round less than before the arrival of the Britannia. In money matters no important alteration has ta- ken place. Stocks remain about the same, except State stocks, which have declined, particularly lnd- ana and Illinois, about which there is much spccu- aton in regard to the payment of the July interest. That ofhe former will in all probability not be paid, as they depend altogether upon the suspended debt which is due from the New York Morris Canal, and other equally solvent concerns. The of Illinois Commissioner has recently arranged for the money borrowed pay the January interest. The history of this is little singular It will bc in your recoec- tion that John Deafed, Esq. took $553, 900 of the State loan to be paid in nstaments. These install ments withheld when the state forfeited the con- tract by its swn acts. The Commissioner Barrett, last summer brought suit against Dea6eld to rcco- yer. This gave rise to the famous decision of the Chancellor of ths state, the effect that the State need not recognise the acts of it's agent unless they were according to the strict letter of the law.
 The credit of the State, however, suffered SD much by this and other acts that the legislature the late session, authorized the commissioner Mr. White sides, to compromise the debt This has been done in the following manner Dela6eld was to pay to the State the whole amount $5S3 900 with interest, and was to be allowed damages and expenses. This was done by the commissioner agreeing to receive in pay men any of the obligations of the State due be- | come due. The payment consequently made in their obligations, at 40 cents the dollar (which yieldeda fair per cent to the operator This ple,ed about the time the $90, ,000, loaned in Ja- nuary fell due, so little chance there of paying it, that the pledged stocks advertised for sale. In this emergency. Dclafeld stepped forward and loaned the money to take up the bonds. This money was tended to Riggs, Nevins and Townsend, but they either could not, would produce the bonds, and finally they agreed to the loan until Feb. l842 reduced rate of interest, and paying the penses incurred with Delafeld. It is strange the man whom the State riedto crush, should have saved its credit at the crisis It is barely possible hs, these parties may raise the July interest. In Janua- " they expect to get it from taxes.
 There many rumors afoat in regard to the U. States Bank, which will probably go into liquida- tion. The meeting of Stockholders is to be held on Tuesday next. The Banks of Pennsylvania will in all probability, not accept the late relief law.
 In the cotton market the features remain without variation, transactions moderate at former prices
 1900 Upland & Florida. ...........9 .9t aflIt
 $50 Mobile.. .94 a 12A $50 New Orleans. ans................92 a 12a
 The arrivals have been about 5000 bales, of which 800 are Mobile.
 In domestic exchanges, there is marked change i; Southern funds are looked upon with suspicion. The Southern Life & Trust Co. redeemed its circulation by checking on the agency in this city. Lot Clark, is the head here but the checks accepted by 40000. The protested checks sell at 40 cents on the dollar. The following the current rates.
 Philadelphia, :. ..42 - Mobile,. 10 II Baltimore. A a - Int. Ala,. III a I2 Richmond, ..5a 6 N. Orleans..7ia 73 Charleston. ....... la14 St. Louis. .94 a = Sayannah,. ......34 a 3i Cincinnati 8 a 9 Augusta. Louisville. & a 9 INashthic,. ..lf
 clerk Mitchell and have been protested to the extent of
 The exchange market is in a curious state Most