Carroll free press. [volume] (Carrollton [Ohio]) 1834-1861, 1847-05-28
COrrssPOndeaes ef The Piiisburg4 Gazette.
Arrival Of the Steamship HibernIa.
BosroN, Nav Hip.


BOsroN, May I'LL P. NJ.
The Hibernia arrived at Boston this afternoon
IN the extraordinary passage of thirteen days
from Liverpool. Her commercial news is most
important.
CorToS.-Prices on the sailing Of The Caledo-
MIA had downward tendency and since her de.
parture have further declined and left the markets
quite fiat The amount Of sales have fallen off,
and spectators are not operating. The reason
assigned for this decline is the restrictive rules
Of the Bank of England and the increased rates
Of interest. The Bank had refused to discount
the notes of the first houses in England said to
be engaged in the speculation and who, il was al.
legged had been shipping gold TO the United States
for purposes of speculation.
This stringent movement had a most telling
effect upon the manufacturing interests of the
kingdom and the cotton market suffered greatly.
Prices Of American descriptions of cotton de.
elIned from the 10th to the esd uItimo TO /. per
pound. Brazil, Egyptian and Surat / to !, and
al the close of the week ending the 20th, fur
iher decline followed of ! to on American, and
also on all other descriptions Of cotton.
On the following day better accounts were re.
ceived from London as 10 the state Of tn, money
market, which gave an improved tone to the cot.
ton trade at Liverpool where the sales amounted
20 about 1000 bales at an advance Of 5lO4d on
some descrptions-ihere The sales on speculation
yesterday declined to 1000 bales at the previous
currency, and finally the speculative spirit decli.
ned altogether aud al Inc close the market was
freed from it.
Quotations for cotton arc-far to good fair
bowed Georgia 6 lGGji, Mobile 6i07d. There
were, however, some fluctuations in price.
GRAIN AND FLoUR.-Speculation was rife
throughout The month in braadstutfs, but notwilh.
standing this influence the price Of western canal
flour settIel at 40s per barrel, and American red
wheat at lOSl0l Is 81 per 70 pounds.
While wheat sold at l2s to l2s 81 per bushol
Of 10 pounds.
Indian corn rated at 5Isto 52s per 400 pounds
for white, and yellow at 52sG53s.
During the last day or two wheat has advanced
81 per 70 pounds.
Western flour advanced Is per barrel.
Philadelphia and Baltimore flour advanced 6d
in the Liverpool market, but the demand was
limited.
Corn went back liule in the meantime and
prices declined 25 per 4c0 pounds; yellow sece-
ded in the same proportlon-2s.
Subsequently TO this tho markets for -four and
corn improved agaln-an active demand sprung
up for -four and wheat.
rise Of 2s per barrel was established on -four
while Indian corn improved very considerably,
and was sold al 565 TO 5Ss for yellow, and 53s 10
eos for white.
The markets closed at these figures firmly, and
a considerable business was doing in brcadstufTs
generally.
The supplies of grain and provisions sent from
the United States TO the relief Of the starving
Irish, created an immense sensation throughout
Ireland, and was the theme Of universal eulogy,
and the subject of warm and generous sympathy
throughout England.
The state of the money market continued to
excite much attention and much apprehension.
Tho course Of the funds during the last fortnight
was steadily downward. The amount of bullion
in the bank Of England was still steadily and ra-
pidy disappearing. The great bulk Withdrawn
from its vaults was on account Of and for ship
mems 10 parties in the United States.
The measures adopted by the Directors were
more stringent than ever, and great alarm was
felt as to their probable results.
The Directors do not publicly make any alter
atoms in their loans, but very careful as to the
character Of the pupcr offered for discount
The Bank Directors have done that which has
acted on mercantile business with great severity.
They have actually declined to discount at all.
The brokers are demanding six and a half and
even seven per cent. for notes and bills of short
dates aud Of first rate character and for bills run
ming I'LL July they ask seven and one eighth per
cent.
The effect of all this has almost put a stop to
business. There have been transactions of mag.
nit th lu,t ,I,,,, LII
Bank has discounted more freely. The effect
has been an improved feeling in the market and
Consol5 have rallied little. This improved
state of feeling had been further strengthened by
an announcement that the Emperor of Russia
had resolved to invest more than two millions of
pounds sterling in gold, in the English funds.
With all these palliariong, the severity of the
pressure was only partially mhgated, aud it is
evident from all The iacs in the case, that for
come limo to come there can only exist very
stringent money ynnrketanda high rate of interest.
The effect Of the investment of Russian gold
was counteracted by advcos from the Continent.
where the price of corn had advanced prodigi.
ousy.
The aiagnaton Of trade in the manufacturing
districts has also had its effect, and Consols had
declined one per cent Ot the commencement orI
the day. and the market closes heavily on the
sailing Of the steamer.
The political news by this arrival is of little
importance, nor is there any general news off
much interest. The state of The money market
advancing prices of bread stulTs states of trad,
sngrosisd public attention very generally, 10 the
exclusion of less important matters.
:tOur despatch is not very clear as to the extent
of the advance on -four, as usual, the closinr
quotations being omitted 1t is evident. howcy
er, that there has been an important advance
The effect shown on the New York market WINS
10 put prices up Instantly.
The news we regard as not only important, but
10 some extent alarming. 1t was no, known