Mobile daily commercial register and patriot., 1841-10-27
Commercial Correspondence qf tAe Regnter.)

Commercial Correspondence cf the Regtster) NEW YORK, Oct. If, lSl1. You will have seen by the daily papers ere this reaches you, the result of the trial of Mcleod, which has so long attracted public attention. The event has had no material effect upon either commercial or financial affairs of the city. The discharge of the prisoner was In some measure anticipated m conse- quenoe of the full report of the trial as progressed which appeared In many of our daily papers, The mere acquitta of the prisoner will have no other et feet upon the causes of difference between the two countries than to lessen the probability of any imme- diate rupture. The great question of injuries sus- tained has yet be entered nto and the result has been good deal complicated by the detention of Nc Leod Rumors from high authority are rife here, that Daniel Webster is 10 be special minister to England, for the arrangement of existing difficulties. There may be double purpose in this, viz to make change in the State Department, as well as to adjust our foreign relations. As the matter now stands, the stock market has exhibited no change offeatures, as was expected from the favorable ter imitation of the trial. On the contrary, most des- criptions of public securities are, if possible, more heavy than before Most descriptions of state stocks have fallen considerably. The s2,000, 900 6 per ct' loan advertised for by the Federal Treasury Depart ment has not been negotiated-parts of it only have been taken at par both .here and in Boston, The state of New York offered Sl5O, ,0O0 of a six per Ct stock, to redeem the liabilities of the Commercial Bank, of the safety funds that stopped; but have been able to obtain no bid for the loan, This in- creased heayness of the stock market has been mostly caused by the nature of the last advces from Europe which to the effect that not only Hee+4i American stocks unsaleable m Europe; but that the leading capitalists of London had politely refused to promote the introduction of any more American stocks, until the delnquencIes the part of our pended states and corporations, particularly the state of Mississippi, were made good. These sent ments were avowed on the occasion of the offering in London of the $l00, ,000 United States govern nent stock, which was taken by the Bank of Com merce in September last, at 5a per cent in conside- ration of that institution being made fiscal agent, which was done, l believe that l wrote you under date of September 25th, that the stock had been forward, and that the Bank drawing against it at 10 per ct. prem. This want of foreign market l because there is not, and never has been sufficient American capital to carry so large an amount of gov ernment loans as has been created, There is also possibility that large amount of the stocks, $l50, 900 sold on account of the U. s. Bank, will be thrown upon the market and sent back to this coun- try,
 Under these circumstances, that heretofore fruit f al z tha f,ra h rl in dits on stock abroad, has been dried up. The posi- ton and prospects of the cotton market have shaken confidence in the bills drawn against it, and has been equivalent to n decreased supply y-at the same time the imports have been large, mostly on foreign ac- count, and the goods have been turned into cash as fast as possible to send home r the relief of the dis tressed owners there. This has stimulated the de- mand, causing the market to be firm 10 per cent, at which rate shippers of coin to draw against have been active and the quantity sent forward this week is as follows :-
 Per Wellington, for London S20S 900
 " Steamer for Liverpool ........ 350,O00
 " Packet, for Hayre. ............. 0,000
 s75S ,O0O
 The rate of bills for the packet closed rather hea vily at the following figures:
 OcT.1. Ger. 6. London. .9t 9l ..............92 a. 10 France. .5.17i n 5.IS2 ........,.5.l74 5.lS2 Amsterdam. .404 40k 40s a 4Of Hamburg. .s6s 364 ............. .36s a 36l Bremen. 792 79 .......,.....7sa a 79
 You will see there has been no advance since the first of the month"; and the demand has evidently de- clned About $2O0,0O0 in specie has arrived here during the week. from the South and South Amer,- ca. Specie is driven here by the irredeemabe cur rency the South, and alter gluting banks, fill ing all the channels of crculation goes to Europe, w, re the people are barbarous enough to prefer to irredeemable paper for currency.
 Domestic bills do not vary much; on New Orleans and Mobie as is usual thus of the year, the bills are appreciating; but on the iH.::557mediate points. there is is1ease in discount The rates .3 day follows: