The New York herald., 1872-12-30
TEE FATHER OF WATERS,
The Result Of the Icebergs in the
Mississippi.
Two Hundred and Fifty Thousand Dollars
Worth Of Property Lost.
Business in Cotton Paralysed, Money Scarce and
the Memphis Coal Supply Giving Out.

MEMPHIS, Tenn, Dec. %, 1872
Since noon to-day light, warm rain has been
falling, and ice which had shelved along either
shore to a thickness Of from twenty to forty feet
has been giving way In immense cakes, some Of
them standing six and eight feet out OF the water.
The largest field is in q bend by the Navy Yard,
just above the steamboat landing. and 1t Is gradu-
ally breaking and noating down the channel In all
shapes and sizes, some like icebergs Several Of
the largest crushed and sunk the Helen Brooke, q
small iron-hull pleasure steamer, and the Summer
Coon, small low water or bayou packet The
hun OF the former parted from the upper works and
went to the bottom, while the cabin, decks, wheel
houses &C., 1oated with the ice. Neither craft
was Of much value, but both ore total loss.
THE CITY OF AUGUSTA,
large and comparatively new stern wheeler. that
had suffered some in the first breakup, and lay
embedded near the outside OF the shore gorge near
the Helen Brooke, had been towed out but a. few
minutes before and thus escaped the disaster, but
s still in danger the channel being both narrow
and crooked and likely to ill up at any time from
the breaking away OF the shore ice though ice
from above is beginning to disappear. 1t Is thought
the river Is now open TO Cairo, and the James
Howard has started Tor that place. All the steam
ers along the levee not wholly or partly wrecked
have steam up constantly, In view OF the danger OF
being parted from their moorings. The Rufus
Walt ana Belle Pike, both sunk near the shore, are
being wrecked, as also are several smaller craft.
1t is likely all
THE SHORE ICE WILL BREAK
away within the next twelve hours, and steamboat
men are constantly on the alert for further dis
asters, though some opine that all danger Is over
Old citizens have recollection Of as severe and
prolonged spell OF cold weather or so serious an
ice blockade since ls4o, though one in 1866 was
nearly as bad.
sed business and prevented the collection or
accounts, which is likely to cause much financial
stringency with the advent OF the new year. over
fifteen hundred bales of cotton have been sold
within the last three weeks end not yet paid for,
because bills OF lading are not obtained, and await
shipment, In some cases bankers departed
from their policy OF not paying checks till
bills of ladirg are passed in and have advanced
some money, but that has given very little relief,
and the banks are as close run as the merchants,
and viii necessarily remain so until restrictions to
cotton shipping are removed. Eastern exchange
is as scarce as money from the situation described,
and bankers have been obliged to buy In Louisville
and Cincinnati within the last two days which is
e @ the a. inns o
surplus How to meet their obligations Is much
troubling merchants who have largely overtraded
no apprehension OF any dimculty beyond tempo
rary pinch, and confidence extends fully as iar as
BY the closing OF navigation on the Mississippi
the railroads are Overrun with freight and, not
Louisville and branches are SO blocked as to inter-
fere with their regular shipments of what little
cotton is turned out by the presses. The latter
have been unable to run regularly for some days
on account of the cold and are now embarrassed
Dy the shortness of the coal supply.
The price OF coal has been advanced to So rs per
BARREL Supplies are early looked Tor by rail from
Louisville and East Tennessee and Northern Ala
bama.
Owing to the above situation the receipts in cot
ton have greatly iallen OF, and the holiday trade
has been much injured For the week ending yes
terday the receipts Of cotton only $3.50 bales
against 092 last week. Usually the receipts about
holiday time are the heaviest oil the season.
All the tributaries as well as the Father OF
Waters are ice-DOund. 1t has been too cold for
ginning. The railroads have been blocked and
their money for the bringing forward oil cotton
has been very scarce. As the weather is rapidly
moderating, however this situation must speedily
change for the better. The river Is rising slowly
which indicates that there are no gorges below
Cairo, and 1t is believed navigation to that point
can be fully resumed tomorrow. There were no
arrivals from Cairo to-day.
THE NUMBER OF BOATS SUNK
by the Ice here since the ice began running Is
seven, and the damaged RATS number thirteen.
Seventy coal and produce fats were sunk or
carried away. The amount OF coal lost Is $4,000
bushels. The total loss OF property is not over
$3.50, ,000 and not 81, 900, ,000 some sensational
dispatches have stated. Less than $780, 900 OF the
damage falls upon Memphis d
/ learn from official sources that there Is no
prospect whatever for the payment Of the January
interest on Memphis currency skies. The amount
is $4,000 no interest being paid since july 1871,
except on the gold bonds, whose coupons are pay
able in May and November, and it is only lately
that money borrowed for that payment has been
maid