The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1859-05-17
The NtMS.

By the arrival of the Nova Scolian at Quebec
and the interception Of the Arago and Vigo off
Cape Race, we have advices from Europe to the
9th inst Unfortunately the telegraph gave out
somewhere down in the British provinces, just as
the yigos news was coming over the wires and we
axe therefore without word ofintelligence relative
to the state of commercial affairs later than
the 4th inst Up to that date reports current of
collision between the Austrians and Sardians but
they were not credited. Napoleon had sent mani
festo to the Corps Legslatf in which he says Aus
tria has virtually declared war against France and
nothing remains for France but to take up the
sword in defence Of Italy. He disclams all idea of
conquest, and processes nothing but the purest
sympathy for Italy, and says that he is about to
place himself at the head of the army leaving the
Empress and his son to the patriotic care of the
French people. The financial panic in London had
subsidized. Consols on the Sd inst. closed at 9Ol a
9ol-an improvement of onc-quarter compared with
the prices Of the day previous. There was no ma
terial change in the cotton market Breadstufs and
provisions had general upward tendency.
The definite character of the news received from
Europe yesterday, showing that, though no actual
collision had occurred, yet that war had been de.
cared and leaving room to doubt its early reality.
mercial circles in this city which was noticed last
week. It's most decided influence was felt in the
-four and grain markets, and resulted in further
advance in prices. Flour became active with sales
OF about 81 900 50 900 barrels of all kinds closing
at al advance of Csc. to SOC. per barrel and in few
grades Of desirable Western and Southern extras.
from Acc 10 SOC. per barrel. Wheat advanced about
&c. per bushel Corn was plenty and less influenced
I 1. oJo Caxu
Sales of cotton were checked by the news, and
embraced only about 800 400 bales, while
the market was unsettled. The decline from the
highest point previous to the war crisis amounts
to fully a of cent per pound Taking the inside
figure, and estimating the bales at 450 pounds each,
will give decline equal to 50 81 per BALE The
crop is estimated at 700, 900 bales. or this amount
about 3,502 900 have been received in the ports
and 46l 900 bales have been exported, leaving
stock in the ports Of 49S 900 bales. These two
added together give 2,959,000 bales, which, sub
iracted from the 3502 900 receipts, leaves 5i3 900
bales which must have passed into the bands of
American manufacturers The 49s, 900 bales re.
naming in the ports with the 200 900 bales not vet
sent to market, amount to about 69s000 bales
which, at the decline of So 37l per bale, gives
total loss caused by the war news within
fortnight equal to $685. 66 an amount great.
" in excess of the rise in prices on -four.
grain and provisions. If we were to add the
possible depreciation Of the cotton controlled
by middle men in Liverpool and in transit.
the aggregate diminution of value to the country
would likely be considerably augmented As be-
fore remarked, however, it has been fortunate for
the cotton trade that so large portion of the cron
mas been sold in Europe before the war crisis 90.
in. 1t is likely that heavy or unsettled market
planters will feel disposed to hold back shipment.
TO some extent; and, light receipts are, they
will at the end of the season prove less than was
previously estimated. Pork was excited with free
sales at decided advance Mess beef was also
better, and so was lard. Rice was active, and ad.
vanced &c. per Id. In fruit, movement was
noticed in currants. Trieste exports large quaint.
ties; hence the war has produced movement, and
1000 barrels were sold at Sc &C. per ID. Sugars
were unchanged and sales confined to about 400
aoo hhas| Coffee was quiet, and steady In
frelghts rates were steady, and engagements
moderate.
me overland man has arrived at St Louis Will,
dates from san Francisco to the 22d ult two DAVIS
later than those received by way of the Isthmns
Tie reports state that business was brisk and
money plenty. The Legislature adjourned with.
out making provision for the 5000 900 of State
bonds still outstanding.
1t was reported yesterday afternoon that heavy
defacation bad been discovered in one of the de
partments Of the Board of Education TO the amount
OF several thousand dollars, and that every effort
had been made to keep the matter quiet and from
the public press. 1t was stated, however, that the
matter cannot be kept private much longer, and
'ha' at the next meeting of the Board some inquiry
will be made concerning it.
At the meeting of the Board of Aldermen last
evening the Mayor sent in the nomination Of Jona-
than Trotter for the Office of City Inspector. II
was forthwith returned The Committee nm Streo,s
reported in favor of requiring the telegraph com.
panies to remove the telegraph poles from the
streets and lay the wires under ground. The sub-
ject was laid over. The report against leasing
Reservoir square to the American Institute was
adopted, as was also resolution appropriatipp
$1,000 to test the right Of the city to land under
water at West Washington Market. The sum of
5000 was appropriated for the celebration of In
dependence Day, and committee, consisting of
Alderman Peck, Tuomey, Bradley and Lynes, was
appointed to make the necessary arrangements.
Ibe Joint Committee on Accounts reported that