Wilmington journal. [volume] (Wilmington, N.C.) 1844-1895, 1847-05-21
Ratified 18th January, A. D. 1917
From the Washington Union of the Eth inst
ARRIVAL OF THE BRITANNIA.


FROM BALTIMoRE-11 o'clock, P. NJ
The steamer Britannia arrived at Boston at
midnight on Sunday, but the telegraph to New
Yord, as we'll as that from New York to Phil
adelphia, being out of order until last eve
ming, we did not receive our regular despatch
es by telegraph until tonight.
The Britannia sailed from Liverpool on the
9TH May, a. M, consequently brings dates
from Liverpool about fifteen days later than
those brought by the Caledonia.
Cotton market-the price of cotton-At the
sailing of the steamship Caledonia it had a
downward tendency, and, since her departure,
had further declined. The market had become
flat, the sales less, aud spectators not in
cined 10 Operate. Several causes had contri-
buted to produce this reaction; the prominent
one, the restrictive measures of the Bank of
England, advancing the rates of interest, and
its refusal to discount bills bearngthe endorse
ment of some of the first houses in Englang,
which were said to have been engaged in spec
ulation AMI shipping goods to the Unite ]!
States. This movement is said to have had a
most telling effect upon the manufacturing
portion of the country; and the cotton mar
ket continues to suffer I'm Ter this pressure
Prices of American, from the 18th to the 23d
ult, declined a. to Ill; Brazil, Egyptian, and
Surat ID. TO T.; and at the close of the follow
ing week, ending the 3Oth ult,, further re-
duction following of IL. to / on American
and all other descriptions On yesterday the
business declined to about 1000 bales at the
currency of Saturday, and the market was
free from speculation. Prices of cotton, far
to good fair bowed Georgia GIL. to g.; Mo-
bile 81 to ID; New Orleans rs TO la.
On the following day better accounts were re-
ceived from London as to the state of the
money market which gave an improved tone
to the cotton market at Liverpool, and the
sales of that date amounted to about 1000
bales of American at an advance of I'D
Most of which, however, on speculation.
Flour Market-There has been some fuc-
tuation in the price of flour during the month,
but prices have now settled down to 40s. Yves
tern canal flour; American red wheat is held
at los l. to lis. GIL, and white at Us. 81.
per busheI: Indian corn Sis. TO SIS, and red
SIS. to 53s During the last day or two wheat
has advanced ID. per 20 pounds; Western
-four Is per barrel; Philadelphia and Baltimore
-four 6 in the Liverpool market. The de-
mand for corn is limited, and prices had de-
clined IS per $50 lbs. on yellow, Is on white,
Yesterday, May 81, foreign wheat obtained an
advance of fully As per quarter. The flour
trade was very active, AMI rise of Is per
barrel was established, whilst Indian corn was
sol at Sc to 58S for yellow; So to Cos for
white. The amounts which the Americans
have sent TO the starving Irish has been the
universal theme of eulogy in Ireland and OF
warm and generous sympathy in EngIanf.
MONEY MARKET.-In the money market,
during the last fortnight, the funds have con-
tinued uninterrupte lily in th'Ir downward
course-the bullion in the bank still decreas-
ing rapidly. The directors have been more
stringent than ever, in fact, though they >ha
not publicly male any alteration in the terms
of discount They had done what has acted
on mercantile business with more severity
thew have virtually declined TO discount at all
whilst the discount houses are charging 1-2
to cents. for short dated bills of 6rst-rate
quality. and 7 1-S per cent. for bills running
until july The effect upon business has been
almost to put a stop to transactions of magni'
tude; during the last few days, however, the
bank has discounted more freely, and consolt
have rallied little The improved feeling
has been further strengthened by the an