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Alexandria, Virginia
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Commercial news from France via ship Adonis: no major politics, export permissions for grains, king's recovery from illness, Gallatin staying another year. Markets in Havre, Hamburg, Genoa declining; French stocks down; several business failures reported.
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From the Mercantile Advertiser, April 5.
VERY LATE FROM FRANCE.
On Saturday afternoon, the remarkably fast sailing ship Adonis, Capt. Price, arrived at this port in 30 days from Havre, whence she sailed on the evening of the 1st of March, and has furnished the Editors of the Mercantile Advertiser with papers of that place to 28th Feb. and Paris papers to the 27th, inclusive, which contain no political news of moment. The Adonis has brought 120,000 dollars Specie, for the U. S. Bank.
The French government has permitted the exportation of maize, millet, and potatoes from the south western departments of France, in consequence of the low prices at which the different species of grain were sold throughout those districts.
The king of France had been ill, but was so well at the last accounts as to attend the public amusements.
We learn that Mr. Gallatin will remain in France another year.
Up at Havre, Feb. 25, Fr. brig Deux Angeliques, Joulain, for New-York, soon; ship Africain, Couflon, for New-Orleans. Brig Mercure, Vacquerie, from Savannah, for Rouen, passed Havre about 24th February.
Sale at Havre Feb. 25, 83 bales Georgia cotton, old crop. 18 13/47. do at 17 24.
At Hamburg, Feb. 13, Am. cottons declining, and little demanded--pepper and pimento, in better demand; cocoa and cochineal, no demand; wheat and rye falling. Tobacco, except Virginia, maintains its price. A lot of hyson skin tea was sold at 29 4/3 1/2--no demand for tea except for local consumption. There was some stir in sugars--Havana white 14 a 15--fine brown 11 a 7/8. Potashes 26 a 27m; tallow 45 a 46 rix dollars.
At Genoa, Feb. 13--50 boxes Havana sugar, acq. 63; 1900 B. A. hides. 105; 17 bds Jam. coffee, 30; 6000 lbs Malabar pepper 14,6.
The French stocks were declining--five per cents, Feb. 27, 66 1/2 a 67--bank stock, 1490.
Extract of a letter, dated Havre, 28th February.
Since our last, our market in general, we regret to say, has gone from bad to worse, in consequence of the late failures, which have created an almost unparallelled want of confidence. New Upland cottons go off with difficulty at 40 sous: New-Orleans, 45 a 46. In rice and tobacco, nothing doing.
The failures of importance are: J. G. Merrian & Co. who are principally engaged in colonial goods, in which they lately speculated largely, especially in coffee-- it is said they have failed for 1,000,000 francs; Mr. B. Boucherot, of Havre, caused by the suspension of Boucherot & Co. of Paris, bankers.--This morning's post from Paris brings intelligence of the suspension of Scherer & Finguerlin Grosrenaud & Bernard, of this place, are also named.--More failures are looked for.
Such being the state of things here, and in fact every where, we would strenuously advise you to do nothing yourselves, and to prevent your friends doing any thing till you receive better accounts.
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Foreign News Details
Primary Location
France
Event Date
28th Feb.
Key Persons
Outcome
french markets declining due to failures including j. g. merrian & co. for 1,000,000 francs, mr. b. boucherot, scherer & finguerlin, grosrenaud & bernard; stocks down to 66 1/2 a 67; advice to halt business.
Event Details
Ship Adonis arrived from Havre with papers to Feb 28 showing no major political news; government allows export of maize, millet, potatoes from southwestern departments due to low grain prices; king recovering from illness; Gallatin to stay another year; shipping updates at Havre; cotton sales; declining markets in Hamburg and Genoa for cottons, grains, sugars; French stocks declining.