The daily union. [volume] (Washington [D.C.]) 1845-1857, 1846-07-16
New YoRE, July Is, 1916.


To the Editor Of the Union:
According TO all accounts, there has been tre-
mendous fire at Nantucket, Massachusetts,. Ii is
supposed the greater part of the town has been
duced to ashes. The fire not extinguished al
last accounts, although ~ houses had been blown
up. The losses II is supposed, must be very heavy,
as large stocks Of whale oil, whale bone, &c. are
usually held in that town. The insurance Offices
| Of Boston, New Bedford, and Salem, 1t 10 believed
must sustain immense losses.
This has been packet day for the Britannia, which
| sails from Boston for Liverpool tomorrow. The
merchants, as usual were much occupied with their
| correspondence, DC.
As the Cambria steamer 10 very fast vessel
her arrival may be expected within two or three
days. She will, no doubt, bring the gratifying in
teigence OF the ANAL passage Of the corn-law bill
| through the House Of Lords well news with
regard to the prospects of the English crops-al-
ways important TO commercial men.
A mesmenIing lecturer, itineraung through the
country, murdered his wife in Jersey city. She
obtained \ warrant against him for Il-trsatment.
When the ofhcsrs were about executing il, he drew
pistol and shot his wife, who died soon after.
His name il Spencer, and he 10 said to be from
Osego, in this State. He il in jail for the offence
A memorial has been largely signed at Albany in
favor Of the rights Of clergymen and women, which
Is to be presented to the sitng State ention.
Among the deaths from heat, the Albany papers
announces that of Col. VIM. Knickerbocker Of Lam
slngburg, caused by drinking ice water when over
heated. He wss "a years ofsge, and was much re-
spected.
The comptroller in his report made to the con-
vention in obedience to call for the same, on the
number and condition Of Incorporated banks in this
State gives gloomy picture Of the past and present
banking system and institutions in the State The
safety fund securities all exhausted and hereafter
losses sustained by the people who may hold their
money or debts cannot be redeemed at any price.
The free banks amount to seventy-one, with an ag-
gregate capital Of about twelve millions of dollars.
Their immediate circulation amounts TO about six
millions, and their pledges of mortgages and stocks
amount to about seven millions; two millions Of
which consist in mortgages, four millions in New
York State stocks, and about one hundred thousand
in United States stscks. The remainder Of the
stock pledges consist Of Illinois, Indiana, Alabama
Michigan, and Arkansas. The latter securities
divided out--say to the extent of about 81, 500 00U
among forty-seven free banks. Six of them
have deposited cash on deposi,e to the amount of
S23, 900. II is immaterial whether the people who
hold bills lose, or the people taxed to redeem
them at par; the evil in either is the less.
Hence the safety fund system has worked very
badly. Under present restrictions nothing but new
State stocks received by the comptroller as col
lateral security for the issue of bills by free banks
may allude to this subject again.
The stock market was heavy to-day, Only 200
or 300 bales of cotton sold, without change in price,
l,5OO barrels Michigan -four sold at 50 S7i and
1000 Genesee a g. '....
Bills on London for the steamer at u; sales
moderate. On Paris at SO 5 IS. Freishts dull
The packet-ship Victoria calls for London to-
morrow, and the Havre for Havre.
Yours, &c, c.
We find in yesterdays Journal Of Commerce the
following account of the fire at Nantucket, alluded
to by our correspondendent. The Journal gives
long list Of the sufferers, for which we cannot find
space.
GREAT FRE AT NAsrucKEr--A fire broke out
at II o'clock on Monday night, in the jewellers
spread in all directions, chiefly to the NJ W., in
the current of the wind When our informant left
I'll O'Clock a. m. on tuesday, the fire had been
burning twelve hours, and was then raging uncon-
troed. w.. -
All the buildings had been DESTROYED on the
square bounded by Main, Centre, Broad, and Fed
eral streets, and on the opposite sides of these
streets respectively all round; Trinity church and
all the buildings on North Water street as far us
Aaron Mitchell's house, inclusive; all on Main
street to Straight wharf; Union street on both
sides to the hall occupied by the town officers
incusive Washington street to Capt. Pease's house
inclusive. The fire was arrested at this point by
blowing up DR.. Ruggles's house.
The Inquirer and Mirror newspaper Offices were
both destroyed, two banks, post Office, &c. The
buildings had been blown up, and all the powder in
the town exhausted with good result, except in
the single instance stated above. II was exceeding
ly difficult 10 procure water, and the fire companies
were quite unable to cope with the flames
Nantucket is built almost entirely of wood and
the houses irregularly placed to streets: though
some Of them quite elegant The energy Of the
people on the island has accumulated for them more
wealth than s to be found in any other town of its
size in the United States. But since the whaling
business has been established at New Bedford New
London, and other places on the main land, the dis
advantageous position Of Nantucket, especially as
to its hsrbor, has become so apparent, that several
Of the largest houses have, within few years let
it for more eligible points
The goods, and property Of ell sorts, were univer
sally consumed with the buildings II is under
stood that there was a large amount OF insurance.
partly in the two Offices of the town, but chiefly n
other places. We have no estimate Of the value Of
property destroyed. An hundred and eighty build.
ings were reported to have been burnt at II o'clock
on Tuesday, and on Tuesday night light was
seen in that direction, giving reason to fear that the