Richmond daily times. [volume] (Richmond [Va.]) 1850-1853, 1851-07-09
oALlFueNIA IkTpIIlonNon.


CALIFORNIA iNTnLLlQENon,
Idany OF the buildings now in PROCESS Of erection in
San francisco are to be made fire proof wthoutregard
10 expense. OfAdams G. Co.'S new house, the Alta
Californian says
The building in process of erection by Messrs
Adams 81 Co., upon their old site opposite the former
custom house, should another fire ever occur in this
city, will test the question whether there can be such
thing as hire proof building not for that cannot re-
sst The action of the devourng element, nothing can
The walls are at least two feet in thickness, of BRICK
and 1t is intended that wood work should be ex-
posed. We fancy that Messs. Adams & Co. NAV feel
perfectly safe from fire when their new building is COM
pleted
Adams & Co. shipped $3.50, OO0by the steamer Ten
nessee one OF the largest shipments yet made by any
single house from California.
During the month of May 400 emiorans from
China arrived at San Francisco.
Respecting matters OF business we have the following
items 10 letter 10 the New York Journal of Com
merce dated
SAN FRANcIsco, May 81, 1851
Since the departure of the last mail steamer business
OF all kinds has been fearully depressed amounting 10
perfect slagnaton IN trade generally, and prices have
fallen oil to point, even beoao hose current before
the fire. The auction are filed with the choicest
goods. AT Middeton's large room, on Monday last,
there the catalogue nearly 800 los of assorted
| merchandise. The average prices obtained for boots
and clothing was fully % per cent. belo,o New ork
cost prices The goods offered generally seasonal
ule, anu perfect cOnuhlOn. Most OF them Spe
cally adapted to the pre- ent wants and prevailing tastes
oil the people. Still obbers have money no conf
dence, no disposition to purcha goods at any price
The tact Is, that our merchants body used up,
and what little cash means they have left, is all being
absorbed in paying heavy monthly rents, still heavier
freight bills on the enormous stocks of goods arriving
| by The clipper ships from New York
We have had no failures among the trading COM
munity but such feeling Of dependency and general
depression among all ella probably never before
witnessed in any city on the Pacific coast; and where
it will end none can tell That goods must adva ce
eventually, is evident to any OBJ rvng mind but when
that time will arrive can predict. There are
vast many ships yet to arrive. The fleet of merchant
men which sailed from the Atlantic ports December,
jan and Feb tare YET to come in. All are filled to their
utmost capacity with good goods at high of freight
to consume the lite blood which yet remains our mer-
TO be sent home by the return steamers in
golo dust, which Is now and has been almost drug
IN our market tor the fortnight past, at SIG per ounce
| tor pure clean dust. Exchange has fallen to par on
the principal Atlantic Cities while gold of California
coinage is drug at to 10 per discount owing
to the fact OF the destruction by fire. and necessary
temporary suspension OF the United States Assay OF
flee.
The amount of building going on in this city is truly
enormous iii venture the assertion that there are to-
day more buildings erected and remarkable in the
city OF San Francisco than there were on the Sd of
May last prior 10 the late conAagraion. 1t is true
that the burnt district is not all built upon, but new
SUES ana new locations have been occupied. and the
work OF erecting more fre brands goes bfavely on-
great number OF vacant stores LETT TO be seen in
all parts of the city, and few elgbly located gaping
Tor occupants to the asking tune of $3.50 to 5000 per
month rent-a sum which lew are able to pay. The
average cost of the and tenenens erecting will
not exceed $4,000 each and it expected that they will
pay for themselves in less than year, ii not burned
down in the interim.
Our carpenters and mechanics generally are reaping
rich harvest realizing they do their SO per day;
day aborers SIS per day. while their board is but SO 10
Sl2 per week; leaving the former clear $40 per week
Tor remittance home to their families which is sure to
CO. things constituted. AT least two thirds
OF the money received tor labor is RENTED by the first
steamer after earned and that is estimated at about one
hundred thousand dollars per day.
So that between the mechanics and ship owners, we
are made to disgorgc 1tco Millions of Dollars
once every fortnight, to say nothing OF the drain for
goods consumed and sold at auction and few are sold
otherwi Use at pres 3nt.
This steamer conveys intelligence of the temporary
suspension OF the banking house of WellsN Co.. and a
notice OF their intended resumpton take effect the
10th June. after having made an assignment of all their
effects for the benefit of creditors, which ass gnment
was occasioned by few restless creditors having be-.
come q larmed at their nonpayment Immediately after
the tire, and determination their part force Wells
d Co. to pay back their deposits nstanter which they
could not do, owing to the precarous situation of Mr.
Wells health, occasoned by the severity of his burns
as was also the with his bookkeeper nothing
OF the destruction Of their principal books account
belonging to the bank.