The New York herald., 1850-05-13

ton are focking off to the mines, vacatng the
tenements occupied for the winter But no one
rush OF Spring immigration is soon to come in,
creating, in the same way as we were witnesses to
last season, demand for tenements for living,
storage, &c, besides the refux is to be expected
again back from the mines, all of which tendencies
determine directly to San Francisco
The money market has been very tight, and
business men and merchants have been very much
embarrassed to meet their payments.
The restaurants seem somehow to have been
very badly managed, for they have none of them
succeeded. The one that used to be at the Ward
House, and Chase and Porter, have been unsuc-
cessful The 81. Francisis successful and very well
conducted. VI the mercantile failures, the most
prominent, are W and Co., B-S- and
W and Co. The latter, as you are aware, were
in reception of large deposites, which they used in
| common with other funds, but subject to call.
They had gone into immense operations, buying
invoices, cargoes, real estate, &c., and from not
being able to realize on them, except at ruinous
rates, became embarrassed, resorted to borrowing
money at high usurous rates. =
The house Immediately made an assignment,
and believe il is the general impression that the
assets will be sufficiently ample to meet all liza
bilities
1t will probably create very bad impression upon
the mercantile community at home. B-S-I sus-
pect isregularly done up and exploded he has been
obliged to give up to - 6S Co. the property on
which he bought of them, forfetng, of course,
the payments made, which amount to over thirty
thousand dollars, and il is rumoured that he has
involved others with him in heavy amounts, as was
to be expected.
Such is a summary of the prominent points in the
great revusion you will hear of as going on here !;
reports which your own judgment will enable
you to place proper estimate upon.
Men have rushed into business though it was
always going TO continue on the high pressure
principle, without any regard to proper seasons of
contraction and days of settlement and the con-
sequence is, some of them have been brought up
with a round turn.
In the meantime, shrewd, quiet operators, like
- -, and folks who have kept every thing
snug, like ourselves, look on composedly, and watch
the operation of events and bide their time, to ef-
feet their ends and accomplish desired results
Ihe merchants are getting into terrible alarm,
in reference TO the loss incidental to- and the adul
teration, practised in, the gold dust collected by
quicksilver. meeting was called last Friday
evening, TO consider the subject, at the auction
r0S%s M1 Sf Payne Sherwood mSss, Go .,. D,.,
MIR. NJ was called upon TO give information
in reference TO the subject, which he did, am
happy to say, in very lucid and satisfactory man
ner, stating that the amagam gold varied in loss
from to IL per cent. liable to be adulerated
by silver or brass filings; couiG De made TO hold
large per cenage OF waier, and the outside surface
remain dry and, furthermore, that we had
snnSiiied lot for B. IL Co., that proved 10 be
aduterated, being only 20i carats fine, and another
lot brought in to be smelted, proved to be pure
spelter, and that there was no safety in buying il
any way excepting il was first run into bars. The
Intelligence thus communicated, in plain, direct,
straightforward manner, had great effect and as
the result Of our daily experience poser rather
astounding, and gave rather a different COM
plexion TO the meeting from what was originally in
tended, l presume. A committee of ten were APP
pointed 10 report upon the subject of amalgam gold
and California coin, of which Mr.. C, Of
C, b Il Co., is chairman Mr..
c. called to see us the day before yesterday,
and had long talk and should not be surprised
if we had to smet all the amalgam gold brought
TO market.
The political world is much excited and in a ter
rible turmoil about these days. The lines of party
distinction have been strongly drawn, and there has
been considerable hard lighting during the last two
elections
Malachi Fallon did not succeed in obtaining the
democratic nomnation, at The primary election, but
was beaten by Col j. j. Bryant, who is moving
heaven and earth to accomplish his election 10 the
Sheriialiy but; great many are opposed to him.
On the other hand, Col. Jack Hays, declined the
whig nomination, and runs as an independent can
didate; and Col. Towns, the whig candidate, not
being very popular, the contest viii run mostly be-
tween Hays and Bryant, and the chances think
now are that Hays will be elected
never have seen more enthusiasm, more speech
flying, more mass meetings, more caucusing, more
parade, iorch-lght professions, and all that sort of
captrap and political machinery at home, than here
Bryant has kept open house for about a week, TO
the public, furnishing eatbles and drinkabes dd
hbuum. All the wagons in town are chartered,
and covered with political devices, and parade with
music, The boats in the harbor furnished with
flags, &c, &c.
The election takes place today, SO | cannot send
you the result.
We are beginning to have quite a civilized and
social state OF things, and balls and reunions are
quite in vogue, (only think OF white vests and white
Kids in Caliornia) had the pleasure OF attending,
at the 81 Francis, very pleasant wedding party
Of Judge Schoocraft and his beautiful bride. with
Col kewen, Attorney General, his accomplished
lady. Sisters. &c. Cant. Suffer. Jack Iiaye Can't,
Ringgold, Col. Collier and several other dstin-
guished guests were present, and some twenty
ladies added grace, interest and beauty TO the
occasion. The tables in the dining room were
removed for cotillon parties, and we had merry
time of n I'LL the "wee sma' hours" and mag
nighcent supper a finale. ;. III. w.