The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1843-02-23

Inc stay Bill ntroducedby Williams OF Jackson coun
y requiring where plaintiffs In execution decline to take
Alabama currency that defendants shall have stay OF
twelve months, was motion of Mr. Erwin Of Mobile,
laid on the table by vote of % to 81.
would thus appear that there is sound principle at the
bottom of the incomprehensble antics exhibited in that
State The productive wealth of Alabama this year is
enormous The receipts of cotton this year at Mobile
2so a4o bales against 1871 bales at the time last
year. and as the banks deprived of all power
gamble in cotton with their broken promises except to
disburse them for bills pay the State interest the pro-
ceeds Of the cotton will be applied to their legitimate OBJ
ject.
The Western Territories seem to be dabbng in debts
already The following the total amount of ndebt
edness of Lee Des Moines and Mucane counties love-
on the first Of January, 1913 -
...... ...... .$3,s3S 20
W"so Mo,nes' '............ ....1sSas 90
"uscathe. l,O52 30
Inc news by the steamer is of very gloomy descrp-
ton The great fall in cotton involving loss of to
100000 the crop yet unsold. cannot but severely
shake the Liverpool houses. The stock OF cotton in
Great Britain and Europe the Of JAM as fol-
lows:-
IMPORTS AND srooK' ~ CoIroH In Ey S,s1r JAN
Great Britain. saaS5o i.sssse ssS'71o ssi5sO bales
rope, 653.367 7203N 229,a32 237,6H -
Total, isss,sl7 2,ll8,4si 7s9,osa 82s. bales
Since this report was made up there has been shipped
from the United States to Great Britain 4O4 sl bales
against 2l7 65s bales in the period last year. The
stock hand in the United States is 4ls75l bales
against last year. After this period last year. about
200 bales received and the receipts this year will
be OOO ba les making the crop bales at low
estimate. This in the face of reduction in the Eng
consumption Of cotton goods of per cent compared
with 1885, and perfect gut in the markets of the world
The result must be still further fall in prices. The stock
OF American cotton in Liverpoolo the Sd inst 2sO
300 bales the quantity shipped since 1876 bales and
the stock hand here is 76l bales which, with 6OO.
600 bales to come forward bales affected by the
ia In price OF 3D. per h. since January In the pros
pect prices will not under the large supply
OF cotton and diminished consumption of goods 3D. per
h. equal 10 $3.50 cents per BALE aggregate Of
S543 s9 loss to the planters factors and shippers The
amount of bills to be drawn and specie be brought into
the country reduced by that and is highly proba.
BILE that still lower rates will have to be submitted to for
the balance of the crop.
The position OF the market is quite bad in the
mer of ls4O when many Liverpool houses went down.
involving their correspondents here 1t true that mo-
ney snow exceedingly abundant in Europe brt there
as here the apparent abundance owing more to the al
most total want of demand through those channels which
command confidence. Those connected with American
trade not now of that descriptions the dsasrous losses
in stocks which attach to the leading cotton houses as
well as those growing Immediately out Of that article
have rudcy shaken the "merchant princess The cur
rents Of exchange different hands from
those which they formerly did In the spring of 1885,
Barring Brothers, sent to this country of specie
through the hands of Prime Ward King to assist the
United States Bank to resume. forced importa-
tion and the metals of speedily found their way
back again. The laws Of trade draw specie in a lie.
gitimate manner and the invoice published yesterday,
gives $4,000 to Prime, Ward & King and fOO OOo or
S4so00 to Brown Brothers These revolutions are con-
santly going and the position of American credit will
inevitably crush those houses which have Deep
y implicated in them, and the sound business will find its
way into the hands OF those houses which are least az
ected by those circumstances This is strongly indicat
ed in the already changing currenf.