The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1856-10-11

The European mails by the Niagara at Boston,
lad not reached this city at one o'clock this morn
ing.
The republicans and old line wings met last night
n their respective distri rs 20 nominate candidates
Sor Congress. This completes the Congressional
nominations 50 far as this city is concerned They
are az follows-
o.. s S 1 G. D. game, Guy T p.oa
A-Jobn Kelly. Il Fred Gould, l. Rsyckmau.
Nv. b. sssay, D. l. SorihruP, Geo. E. Address.
e.-Jpo. coehrane, Aras C Williams, Thor B. stilman
T.-EHjah wa'd, George Briggs, jas. W Sye'
JIM smith, John BlloOx.
s-Hor = ca4k. shepard Knapp, Abr'am wakeman.
In addition to the above Daniel Z. Sckles Is
running in the Third district, and Charles II. Whaea
10 the Sixth. Messrs. Northrup, Williams and
Knapp have been endorsed by the old line wings.
There were more Developments yesterday in re-
gard to the forgeres Of Huntington, the note broker
Of Wall street. The amount Is now stated to be half
million Of dollars, and there may be more yet IN
discovered. This Huntington has not been long in
the business, but he appears to have made cool use
Of bis tine The losses viii fortunately fall upjn
parties perfectly able to bear them, and in this it
differs in effect from the great Schuyler sgindle.
Hon. Washington Hunt addressed an assembly Of
the steps Of the Merchants Exchange yesterday, in
support OF the claims Of Millard Fillmore 10 the
nsxt Presidency. It viii be seen from his speech
which win be found reported in full elsewhere -that
he has no fear Of dissolution Of the Union, al
though he Of course deprecates the election Of Col
Fremont He ID Of the opinion that there are a sui.
fcient number Of conservative men North and South
70 save the country. There was considerable cheer
ing, bet little or no enthusiasm.
The cotton market continued very firm YESTERDAY,
with sales Of about 900 bales, based upon mdIling
uplands az l2lc while line Of the same grade o..
any considerable number Of bales could be bad under
l3c. Telcgnphic reports from Mobile and New
Orleans OF the sth inst, received yesterday repre-.
sent that much excitement existed in those markets,
and that speculation rife, and sales Of midding
cottOns were made at l2tc. l2lc. l2fc.
Freights IN New Orleans we're at 4. AMI in Mobile
9lsd. for Liverpool. The rivers continued low, and
the Mobile market said 10 have been swept Of
cotton. Hon. Howell Cobb, Of Georgia, IN letter
VII ch may be found else whore In columns, esti
mates that the yield Of The past year will notexceed
2o94,Gs2 bales. or onethrd less than an average
crop. In connection with these reports take the
following extract prepared by one Of our leaiing
brokers for the Canada, which sailed from Boston
ON the sth inst. Its views regarding the probable
yield Of the present crop Of cotton Is suggestive
"The accounts from al sections in the South con.
tInue unfavorable, and we have had another frost
which has done some damage In Alabama and else
where the fun particulars We cannot receive By
mail for some few days yet. At Mobile and Mont
romery Alabama, Il Is reported a. having injured
the cotton on the low grounds. very decided and
well grounded fear prevails here and In the South
that sufficient injury has been done by the late
spring drought in July, worms and other disaste .
since, snd recently the unprecedented cold
weather and frosts, TO limit the production
at 3,Oo0,0 900 bales, and possibly at lower figure"
Admitting the accuracy Of these ve7s, and the con-
yiction forces itself upon the candid mind that the
consumption Of the world has overaken the labor Of
production. OF the past years supply Of 3,5OO,OOO
bales Europe took about 900 bales, Of which
100000 were taken by England alone. Assuming
that Europe should require equally a. much from
the present crop, 1t would amount 70 near about a.
much % the whole Of the estimated yield Of the pre-
sent year, leaving no surplus from which American
manufacturers can obtain the 100000 or 100000
bales required TO keep their cotton spindes and
looms In motion. This state Of things will brine
European and New England manufacturers into com
petition in the Southern markets. In such a contest
the article must advances and the higher II goes the
worse Il will be for our Eastern spinners, because
their largest products Of heavy fabrics, are made
from middlng and lower grades Of cotton. Should
these grades Of the article attain high rates, the
competition between American and European pro
ducts in foreign markets win become very unequal
and tell against own manufacturers. II the sup
My OF labor Of the southwest equal TO the ex.
tent Of the rich cotton lands now in a state Of vii
derness, we could easily produce four millions Of
bales Of cotton a. three. We have no white labor
sufH ,iensly acclimated to work beneath a tropica
sun in the production Of the article. The German
settlers who have colonzed IN Texas pre-
fer stock raising, &C.. TO the cultivation Of cotton
The -four market yesterday was steady for good
enperfne and extra brands, while inferior grades
Eue easier. Wheat ranged from u sat 50 for