The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1877-12-23
An English Captain Sails from The Jsnnessis
and the Obi 10 St Petersburg
OPENING SIBERIAN TRADE.
Effect Of the War News on the Lon
don Stock Exchange.
ITALY AND THE UNITED STATES.
CpY CABLE TO THE HERALD

LONDON, Dec 90, 1877.
Captain Virgins, an Englishman, just re-
rurned from the Jenisei and Obi rivers. in
Siberia, reports that route as practicable to
the North Pole, with an open sea all the
way. He also reports that there is an i'm
mense commerce into Siberia from China.
OPENING UP SIBERIA.
Captain Virgins, with his schooner of
forty tons burden, sailed from the capital
Of Siberia to st. Petersburg and anchored
before the winter palace, where his vessel
was visited by the imperial family and by
great crowds of people. Steps are to be
taken to organize line of trading steamers,
and thus open to the world the marvellous
timber, grain and mineral resources Of
Siberia.
FINE FIELD FOR COMMERCE.
Seven tons OF gold were taken from one
mine this year. Wheat equal to that from
California is sold at $50 ton beef is one
cent pound. There are telegraphs every
where. and the large cities and fine people
exhibit the great spirit of enterprise that
Russia has carried into the country. In
England, people will not credit the existence
OF the open sea as reported, nor the posi-
bility of such commerce. 1t is only if
teen days from the Jenisei River to London
EN- ROUTE FOE PALERMO.
The HERALD correspondent at Naples tele-
graphs that the United States steamer Van
dalia, which conveyed General Grant to that
city, sailed thence for Palermo, Sicily, yes
terday.
as.s. ITALY AND THE UNITED STATES.
Negotiations have commenced between Italy and
tho United States with tho Wow OF modifying the
Treaty OF 1868 relative TO the rights and privileges of
the Consuls OF tho two countries
STRIKE SHEFFIELD IRoNwoRKERs
consequence OF proposed reduction OF wages,
to take effect after tho holidays 600 ironworkers at
ehcAleld have ceased work.
FAILURE IN MANCHESTER
Henry Pinchbeck, architect ana builder at Man
chester, has failed His liabilities arc $4,000.
LoxDoS STOCK EXCHANGE
The Economist says :-.Moncy remains scarce short
loans being especially difficult to obtain, while the rate
u discount for three months bank bills is this week
~ per cent, or y lower than our last quotations. On
Wednesday, notwtth standing agtat'ng reports which
rose upon the announcement OF the early meeting
4 Parliament rates were in marked degree, If at
III, nrmer What we alluded to last week as a new
Yet Of prcoccupations to the terms Of peace arc
deepened into alarm, the immediate cause being the
prolonged Cabinet council, followed by cali to Par.
lament to assemble three weeks earlier than usual
Tho announ cement came in the morning papers
OF Wednesday, and before actual business began
prices were depressed. and no distinct recovery
DO recorded.
EFFECT OF THg EASTERN NEWS.
s'The main fall was OIL Russian, Hungarian and the
English railway stocIos, in which weak speculative
purchases have lately hsen madc but in nearly all tho
markets tho effect has been less apparent.
Russian stocks nave fallen and not risen again;
Turkish stocks, low they already Stood have fallen
lower still; Egyptian, III sharp contrast, have been
steadily maintained with an advance for tho week OF
1kto2 There but very distinct recovery
on Friday; and what ,herc was seems to have been
IN preparation Tor next weeks settlement American
governments have sapod tho general depression
this week, although tho postponcment Of tho qucs
Of the currency in wluch the service Of The debt
may be made has had good Effect
CHRISTMAS HOLIDAYS.
The Stock Exchange observes The holidays by clos
ing December IS aud 20, and on January Tho Law
erpoo Cotton Exchange will DO closed those days.
and also ON the Gath and 3lst anst