The Nevada journal., 1854-02-17
San Francisco Correspondense
SAN FRANcIsco, Feb. 9. 1854

SAN Francisco, Feb. 9, 1854.
EDITOR JOURNAL: The past few days have
shown rather more activity in trade than has
existed for some time past, but as yet there is
no certainty of a permanent improvement =
Prices are ruinously low for most kinds of mer-
chantable commodities, and the only hope OF
improvement is in the falling off of shipments
from the East. A successful mining season and
plenty of dust, would of course ease up the
mercantile corhmunity, but would not afford
permanent reliefso long as heavy importations
continue to be made
Yesterday the sales of lots for delinquent
taxes took place. and the bidding was quite
spirited. Our whole population seems to be
infected with mania for speculating in real
estate, and let a sale at auction be announced
and everybody is on the tip-toe of excitement.
and thus far our auctioneers have found no lack
of bidders. Theo Payne & Co. sold $780,
900 worth of property on Monday last, and
large amounts are sold daily by the various
auctioneers in the city. Real estate offices are
as plenty here as lawyers, ones being
opened at the rate of about one day. The
prices at which real estate is held range too
high, and must come down. Rents are falling
rapidly, in proof of which learned to-day that
a well knawn landlord had made a reduction of
Is per cent. upon the former rent Of an entire
block in the business part of the city. They
must come down, and with them the value of
real estate.
A very Interesting suit is now on hearing
before the Supreme Court that of Thorne Us
Hays ct al. The plaintiffs purchased large
tracts and lots of land supposed to belong to
the city at Shcriff's sale under the Peter Smith
Judgment. The Fund Commissioners of the
city made tender of the money to plaintiffs
within six months under the redemption act,
which was refused by plaintiffs and this suit
was brought to enforce the execution of deeds
for the property. The refusal was made by
plaintiffs on the ground that the Commissioners
had no authority to act for the city. The
property is worth several Millions but 1 am
informed that there is another claimant to it,
viz: the U. States, whose title will prove of
more merit than either of the contesting parties
to this suit.
On Tuesday the U. S. Land Commissioners
rendered decision confirming the Peralta
claim in Contra Costa county. This case has
been looked upon with intense interest by q
population of some 2500 to 5000 persons now
settled upon the land. The tract embraces
several leagues of the beautiful land fronting
upon the Bay opposite this city. The cities
of Oakland and San Antonio are both located
upon it. But few persons living upon it hold
possession sr1der Peralta, and there is every
probability of q general fare up among them.
They have no one to blame but themselves and
the spectators who have induced them to pur-
chase, and invest their money upon land which
they well knew was claimed by and always had
been recognized as Peralta's.
The Senatorial question seems involved in
much doubt yct--ncither party having. appeared
to gain any advantage by the bribery investi-
CATION. The friends of Mr. Broderick appear
to feel sanguine of his election this winter
while his opponents appear equally certain Of
\ preventing an election during the present term
For my part can see no valid or reasonable
objection to an election this winter in fact, as
matter Of policy it should be held at least a
year in advance of the occurrence of vacancy
! The representatives in the popular branch ore
elected more than a year in advance of va
cancy, and why not the Senator? ~.
There is o controversy of opinion in regard
to the correctness of the 'rumor that Sonora and
Lower California had been purchased by the
United States. 1 think the rumor premature
as the Mexican papers up to Jan. 18th do moi
mention word on the subject The adyentu
rous spirit of our population is aroused, and
hundreds are heading for the new Ell Dorado
, purchase or no purchase. Several vessels and
one steamer are now loading with freight and
passengers for Guymas.
The new and magnificent clipper ship San
Srancisco, arrived offthe heads yesterday morn
ing in los days from New York. In attempt
q ing to beat into the harbor she missed stays at
the entrance, and went ashore at Rialtos cove
where she bilged and at night had IA feet Of
water in her hold. She as well as her cargo
are total loss. She was owned principally in
: New York, and partly by Messrs. Beck &
f Elan of this city. She was fine ship Of 400
f tons, and her passage equal to any proceeding
one for the last twelve months. Steamers are
rendering every assistance possible to save
whatever of cargo may be possible.
The Odd Fellows give their first Ball for the
benefit of the Orphan Fund on the 22d inst
II We have plenty of amusements in the city at
present, and the different places appear to be
well patronized Notwithstanding the "hard
times Attic Metropolitan, Madame Anna
) Thillon and Mr.. Hudson, the Irish comedian
; are performing on alternate nights to crowded