Martinsburg gazette. [volume] (Martinsburg, Va. [W. Va.]) 1833-1855, 1847-09-23
foreign n { 10 s.
ARRIVAL OF THE
STEAM SHIP UNION.
ELEVEN DAYS LATER FROM EURovl

Tfit, dibsSu a. ANeB iNth On IHulo1dg iaS
OF about half past 1 O'Clock. and was detain
ed al the quarantine on account Of some sick
ness on board, understood 10 be cases ofsnial
pox.
The Union left Cherbourg on the Dist d
August and brings 10 cabin and 10 second
cabin passengers
BY this arrival we have Paris papets to the
Goth of August, and London letters TO the 18Th
and Liverpool 10 the 9th Of August.
The London papers mention The failure Of
Castelar,, Sons s. Co., and Messrs. Woodley,
Of London; Lyon & Finny, Of LiYerpoolj A
Dickson & Co. Of Belfast, and house of old
standing, whose liabilities aree estimated at go
COO
ENGLAND.
Correspondence IF the Commercial .ldrerhser.
LoYDoN, August q, ls47.
There have been several mercantile failures
In The corn trade, since the departure Of the
steamer Of the 10Th, but none has caused so
much excitement as that Of the Governor oil
the Bank of England. There is great dis
pleasure manifested a, the present constitution
nj arrangement Of the Bank, which permits
merchants in active business 10 be at The head
OF such an institution. Ii is said that man
who cannot govern bis own affairs rightly
should not be placed in the control Of others
II is agreed on all sides that the Governor
should be man who well understood mer-
camille affairs, but that he should be one not
given 10 speculation ofany kind. 1t is requir-
cd tiat a Governor Of the BANK of England
must own shares TO the amount Of .f30, GOO tc
qualify him for the office. A new Governor
has been chosen.
On Monday the house of II. Castelan s
Co., suspended payment
TO-DAY there has been another stoppage Of a
house of great responsibility 10 the corn trade,
for .fl50.000. The Standard or this evening
says
The accounts from Mark-ane this morn
ing are of a most untayorable description
Another house Of responsibility in the corn
trade has been obliged to suspend payment
The liabilities are stated 10 be about $50, 000l
The effect Of this failure, IN connection with
the extreme pressure for money, has been &c
reduce the prices in Mark lane from IS TO los
under last Mondays quotations. The lower
figure represents the nominal quotation, but II
is confidently stated that corn can be purchas-
I'd for cash at los. under last Mondays prices
The effect Of this awful depression in the
corn market must be serious In addition &c
the numerous failures which have already
occurred, others will almost certainly follow
for il is hardly possible for the most prudent
factor to escape from the consequences Of the
bankruptcy of those with whom he has been
dealing. Little commlseraton Is felt by the
general public for the disasters in Mark lane
bat il would no, be very difficult TO show thai
the speculations which have turned out so IN
fortunately for the corn dealers were as legit
mate as many which are considered perfectly
regular, and which do not subject those who
enter into them 10 any obloquy.
it is currently reported that the directors Of
the Bank Of England are about 10 make re
duction in their rates of interest, and TO make
advances on Excheque bills and other secun
ties at five per cent. This would afford i'm
mediate relief 10 almost every branch OF trade
for It must be. remembered that the existing
scarcity Of money, and want OF banking ac-
commodation, arises in great measure from
want of confidence, which reduction of the
Banks rates would de much to restore. No
alteration. however, was announced after the
meeting Of the court yesterday. and the rates
for the present remain unaltered.
The harvest is nearly III, in almost every di-
rection, and the accounts continue most cheer
ING. have no recollection OF a season Of such
universal crops, and of such excellent quality
Of grain.
The packet ship Hbernia, which left Boston
on the 10th in the afternoon, arrived at Liver
pool some time last night, and have now be-
fore me the London Herald of this morning
containing two columns of extracts from the
New York papers. The Hibernia lad a rur
OF only nine days from Halifax.
have lust left the counting room ola large
corn dealer. | was there informed that the
times care awful" Flour may be quoted a
from 2ls TO 25s. and some very superior tol
immediate use will bring in small parcels POS
The very hest Dantzc wheat, that ten days
ago brought Cos, is now held at sos. Or
Thurday 1900 barrels Of prime Baltimore fiou
were offered FOR .GlJ00, with charges tina
brought IT 10 about 2ls Cd. 1t was refused a
that price. Yesterday it was purchased a
DIS. exclusive of the charges on il, and re
tailed out in small parcels 10 The bakers
II is reported that the attempt to get the Grea
Britain steamship off has again failed, and tina
the project is 10 be abandoned. We do no
fnd any mention of this in our Paris or Liver
pool papers, but the account may be in one o
an earlier date.
1t appears that the United States has increas
cd the postage on papers passing from the
Boston steamers to Canada, in consequence
ofwhich orders have been issued from the Gen
preparing the papers from this country to Can
ada.
Information has been received by her Ma
jcsiy's Government. that Moeara Rampeh, OF
the Eastern coast oil Sumatra, has been declar
ed free port by the Governor General o
Neherland luGia.
London was thrown into state of alarm or
the 2Sth, by report that one ofthe river steam
ers had blown up and that $50 persons wert
either killed or wounded. 1t was ascertaineC
that the injury done was far less than first re
ported, The number dead is given at six anC
The wounded twelve. The boat was at tn,
wharf near the Adelphi, in the Strand. and haC
on board some $50 passengers. The ate
part of the boat was blown up. and most o
the passengers who were on that part of the
boat were either blown into the river or upor
the wharf. The tide was fortunately wei
ou!, and many escaped by being thrown up
on the mud bottom, while others We're picket
up BY The numerous boats IN the vicinity.