The New York herald., 1871-11-08
TnB ARvfIC CALAMITY.
Additional Details Of the Disaster to tho
American Whaling Fleet.
Loss to New Bedford Over q
Million Dollars.
names Of the Lest VeSselS-Thek Owners
Insurance. in the
Waale Oil Market.

Waale Oil Market.
lNew Dedford. Mass. NOV o., Correspondence Of
the Boston POst.l
The excitement in this city during The last twenty.
four hours has not boon equaed since tho rece pt,on
Of tho news OF the firing on Sumter The loss OF so
great portion Of its whaling feet viii prove .
severe blow 10 the commercial prosperity OF the
place, and all classes feel 1t most kccnly. w hen
the first telegram was received last evening
II was speedily Dulletined at tho Merchants
Ecws Room, and the sad intelligence quickly
spread through every street. The people con-
and On lie corners to discuss the great event anI
await tho arrival OF further news. This morning
taeie wi.s an overlauling OF books and papers and
insurance policies ana counting up OF insurance
kcri2 great deai OF the latter being iii circulation.
fhere nave lo-day been the same gatherings OF bul
ness men d. various places anu continued discus
SONS oil tho rroDaolll les and possibilities o1 the
situation. ! called on several leading gentieNen
this afternoon bus tney were extremely retlcent,
esyeciay those v no are heavy losers, AMI ells.
Closures VI losses VIII noE oe verJ extensive until
tmc mas neen allowed lor reaeetlon aaA striking
baancc. The merchants nt 70 generally wear a1 air
OF patient Ieslsnaiion.
THE FINANCIAL LOSS
will 10 Ovor million dollars and decrease the as-
seS3ment ol the Town iuliy i've per ccut. IL Will
not ~l VILLA SUCH crushing f0.ce as II ~ ha1 been
caused ~ hrc. There aro no wives and mothers and
children beIc 0f the common comforts u life, and
no iaDorin. isen ana women turned out upon the
colo wnru for charity. fhe credit OF New ,,edlord
IL sood the value o. ssock on hlin VIII bo enlaAced
and The ludo.nitaale energy OF This Thoroughly Few
England community Will iise superior 10 the innc.
lIoh. Already owners or wnalers nave been look
Ing about ana dettrnining which OF those
IN port can Ue lifted OUT most speedily In order to
Start on cruise Lext spi1ng. Gideon Allen 1l
tho James Alien. ana Messrs. swift i Alien have
done tue same III regard To the Aurora. tnTty
wialera are now yin. at the New Bedford wharyes,
and a. Is tnoaght they can be got ready time 10
sail next sprng. The losses entailed by this sas-
ter VIII be very generally distributed among al
classes OF peoplo. -vv ,s.r,.xc.
business mere mas been conducted on strictly
eqniLloic mutual plan. and the adjustment Oh tho
policies Will prove the scvcrest lest Vi the financial
strcngth Vi Tie cO,Dmunity Tue stock .. the Union
Mutual Marine. the Commercial Mutual Marine and
the Ocean Mutual Maflne insurance companies Is
all ned py the ros.deat- Of tins CITY and Vicinity. A
SPECIAL meeting OF me insn ance companies WIN be
heid 10 morrow ior consultation and arrangement,
whcn some pOilcy will, no DOUBT, be decided
upon ~ the dircctors IL Is thought to-nisnt oy
uanv that the ocean Company Wl nave TO go un-
der. but thc others, oelng older. wll weather the
storm.
THE ROME AND ~ MARKET.
There have been transactions the bone and
oil market here Ia dag. hoiaers refusing Lerenp-
mination 10 awaIL Developments that wall succeed
the qn.etisg uown OF The Excitement. The price of
sperm oil VIII necessarily De Affected but not 10 The
cx e"i o, wnaie, as the latter lormed tie caief part
o. the oii iosi \ few days ago sperm was Onered at
s. A. per gallon ana y 80 oncred. Ihe entne
present mouth amounted to $1,000 barrels sperm
and 12.JuJ barrel, WIaie, against stock oi 1850
frel5 sperm anu $4,000 barres whale on The lst
Oi January. eaviDg Two nOnihS ccnsuInption yet
to be estimated before The close OF the year. The
quantity hed III BosOn TO-DAY ls 1000 barrels sperm
and 90 parrcis Whale.
New Bedford Is suddenly called on to take her
part Ill the geacra disasters OF this unpreeedented
season oil Caiamity ~ the loss or abandonment OF
thr,s.two tn.rly tDrce. including BARK OriOle, ba-
lore reported losu out 0f The Meet OF 1orty one
wlalers liz the Arctic ocean, our own port losing
twentv-0nc vessels, COMPRISING 0nc-eiXhth ana
am.ng them the hest portion o. our cniiie whaling
neet the news Of winch ie IKE a tbIndcr-stroKc
upon our ucrchantS ana CtiZen5 last evening. ms
liz the scr6reSt bow which has ever fallen Gp0n our
leading 0usiles-. Though many valuable lives aud
costly vessels have previously been lost In this peril
such q wholesale destruction. Our best vessels ana
very large amount oil capital have
been swept away In single season,
and II viii taKe our city many years TO
those VINO venture Oh The seas aro exposed to
greater pei lis tau that adventurous 0.a3s whaieis
who seek their Grey within the limits Of tho Alctic
sea. lsyeif season has Witnessed The loss OF more
or less ve seis, AMI only last year the snips which
remained late came near bclng entirely fost. This
season IAc ice came down frO.n the north so sud-
dcuiy aau lii snc MASSES that the whole feet was
cnyeioped ANA driven ashore. ii ~ sincere matter
OF lOngratuiatiOn that 20 lar as reported lives
have ueen lost. S loss Will Iall heavily ulOn our
IRON The mere ist cl agents, a. the ownership VI the
Vessels LOST Is arseiy uSir Duted among those OF
muIcl J. ucans. Though many owners are insared,
yet Offices are mutual ones they VIII 10
taenl Iut serious tlls 5astcr Is II will not be
crushlng one. Que COM EelsatIug effect Will be TO
increase con ,lcrduly the value OF the STOCK OF OIL
ana bone and the vessels IN port.
THE ABANDONED VESSELS.
The vessels aOandvIcI tacudc twenfy-oDe nom
us