New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1843-02-13
Arrival OF Henry Clay in Mobile
Correspondence of The Tribune.


NOBLE Ala. Feb 1. 1873
sc -. exnected arrival Of HENRY
CLAY this day there has been almost an eh'''e ,us
nension of business. Mr.. Clay was eSPeeteo 20
arrive in the steamboat Creole from Ne"-','i
q, 1oA. NJ. According to previous arrangement
.,oA. NJ. the steamers Jefferson, Gen. 1a'hes.
New Albany, Formosa, Arkansas, and oa'he'-
vile, left the City with large number 81 OUT CIT
;zens-thc Jefferson having on board the Commit
20, of Arrangements to meet the Creole IN the
bay and escort Mr. Clay to the City. shor'a''
tancs from town the Jefferson got aground, ana
tbe General Gaines followed and also groundeo-
the other boats passed on, ard proceeded oo"n
The bav. The Committee sent TO town ior tlie
| Lalla Rookh, TO go down and take them on. III !,
a short time she went down and grounded ID inc
,uemp, The Arkansas then came back ana also
FUNDED near the Jefferson. The weather was
yerv cold and windy; but no difficulties can or
will check the enthusiasm of the friends OF HENRY
cIy in this section. By 10 A, NJ. the large
wharf in front of Hichcack's press, at which Mr.
CLAW was TO land, was covered with the Military,
F;remen. and Citizens, who assembled TO greet
Mr.. Clay on his arrival. Flags were hol'ted on
all the shipping in port, and the whole scene was
Civ Between II and o'cloek-the Creole not
vet being in sieh:-:.:o steamers ieidfns1 TO
! those aground having got OFF. On our return TO
The CITY we learned that the Creole had broken her
shaft. and the mail was forwarded across from
Pascagoula By land. The Companies that were to
form the processioh, however, remained in rsadi-
ness till nearly dark when they returned and sep
arated, the boat not yet being in sight Mr. T. Will
probably arrive during the night or in the morning.
and will meet with as hearty and warm welcome,
although less ceremoneus as though be had arrived
when expected.
The Cotton market here is very inactive, as both
BUYERS and sellers are waiting for the news by the
steamer Sellers are holding at firm prices On ac-
count Of the advance in exchange, and the uncer-
tainty of our currency. Exchange has advanced
nearly ten per cent within as many days, contrary
to expectation here, and is attributed 20 the mac
tive state of the Cotton market. 1t is argued that
the very large crop, which will have TO be sold,
mast make the supply of exchange exceed the de-
mand largely; and as the Banks will be put in
liquidation, that the circulation Of the State Bank
and branches, which is less than $4,000, 600, must
soon be absorbed, as there is due to the Banks
over So, 000, 900, which is undoubtedly good, and
of which large amount must be paid in during
the year. 1t is, therefore, believed that II the
crop continues to be purchased with the present
currency, that the present rates of exchange can
not be maintained. On the other hand it is be-
ievcd that the placing of the Banks in liquidation,
and the consequent uncertainty Of its continuing as
currency will necessarily cause heavy depreca-
ton of its current value. All desire to sec bust
ness here once more transacted upon specie basis,
| and the fact tIat we must come TO 1t, will
have strong tendency to depreeiaie Eeb.ms mo,
ney.
6 Many planters are now demanding specie CT
specie funds for their Cotton. Several factors nre
holding cotton for sale for specie funds, as large
portion of the Gotten on hand here from Missis-
sippi is ordered to be sold for specie funds only
| Fee. 2-1l A. NJ.
Mr.. CLAY has just arrived on the Creole, fol-
lowed by the steamers Jefferson Formesa, and
New Albany, crowded with passengers. The Gre
ole has gone up the river to the upper end of the
town to turn rousd, and will go back to Hitch
cocks wharf, at the lower end of the City, where
crowds await the arrival of the Orator and States
man Of kentucky, to hear his eloquent voice. a
processioA will be formed as soon heis formally
received to escort him to the residence of w. [.
Ledyard, Esq. on Government street, with whom
Mr.. Clay will stop.
Exchange is still very scarce, and | am unable
to give any fixed rates to-day. cannot learn Of
any drawing On Ncw-York. Cotton is still dull
extremes 81 and cts.
must now close to witness MIR. Clay's receP-
ton. In haste, Yours, &c. A.
|