Evening star. [volume] (Washington, D.C.) 1854-1972, 1858-08-10

Total. .S3S 456, 900
The highest bid was for S., 900 at 7.O3 per
cent. premium and the next highest was for
$4,000 at $50 per cent. About 100000 was
bid for at par.
Of course, all the bidders at and above per
cent were successful and they are given with
the amounts bid for respectively as follows:
James M. Townsend, New Haven, Conn,
100000; U. S. Trust Company, N. Y, $780,
900; T. ]. Abbott, W. c., $4,000; City Bank,
New Haven, Conn.,, $4,000; Hoffman & Ten
Brock, N Y, 900; Bank of the Metropo-
lis, Washington, $4,000; Chubb Brothers,
100000; Savings Bank, Baltimore, $4,000;
j. Fowler, N. Y, $1,000; Bank Of Commerce,
N. Y, 81 ,050, 900; Cammann & Co., N. Y,
5000, 900; Drexel Co., Philadelphia, 500, 200;
Cromise & Co., Philadelphia, $4,000; State
Bank of Troy, N. Y, $4,000; E. Whitehouse,
Son & Morrison, $50 900; G. S. Robbins & Son,
N. Y, S2,OOO,O 900; Bank Of the Republic, N.
Y, 100000; Ii. j. Seaman, N. Y, S25, 900;
Trevor & Colgate, N. Y, 100000; Marie 4
Kauz, N. Y, $33O,OOO; Seamen's Bank for
Savings, N. Y, 10000; Rowland & Aspinwall,
S25O, 900; Hoguett 4 Boell, $40, 900; Tallmadge
& Manly, 100000; C. F. Pond, Conn. $40
900. Total, 81, SIC, 900.
The other S., I24, 900 were awarded to the
bidders offering between and per cent The
lowest being but small fraction below Al per
cent. Several of the bidders offered to take
about half the loan, and a number reached one
fourth the amount. Messrs. Auguste Belmont
and d. Riggs Co, offered conformity to take
the whole amount (slO 900 OOO) at 3 n per cent.
They, however, got nothing. In speaking Of
this matter this morning, the Union says:
''It must also be remembered that, had aDy
large operator succeeded in getting the entire
loan, the bonds would have been worth from to
per cent more in the market than under dis
tribution such as the Secretary is required to
make on the bids opened yesterday. II was stated
by some Of the leading applicants that had the
rate Of interest been instead Of per cent the
bids would have ranged about ~ per cent. higher
than those opened If this is so, a little calcutta
ton will show that the losses Of the Treasury by
the redemption of stock are, after ALL very incon.
siderable; in fact, IL we consider the interest
saved on the new loans and the old stock
deemed, we doubt IL the Il ansactons do not prove
that the Treasury has been the gamer. OF course
nobody antici pated the financial revulson of last
year, and much less that in eight months after it
reached its height money would be worth only
three per cent. year.
The HARBOR OF NEW YORk-ProfeS sor
Bache is making an effort to induce the New
York Legislature and the capitalists of New
York city to subscribe sufficient means to
prosecute at once and to a speedy conclusion
surveys to ascertain the best mode OF putting
an end to the rapid depreciation of the harbor
Of New YOrk-resulting from the rapid in
crease Of the peninsula of Sandy Hook and
the Courier and Enqutrer is ably backing his
exertions. To illustrate the points involved
we quote the conclusion of late able and in
terssting article in that journal on the subject,
as follows:
"The commercial tonnage Of the United States
is now fully equal to that Of Great Britain, and
largely exceeds that Of any other foreign power
Hence the necessity Of providing at our chief
port the best facilities for shipping vet il is
stated by Professor Bache that tthe peninsula of
sandy Hook is gradually increasing, growing to
the northward into the main channel. A spot
north OF the Hook, where there was forty feet of
water when Captain Gedney made his survey,
In less than ten years was nearly bare at low
water The Importance Of determining the cause
Of this increase, as leading to the means of con-
troiing II, cannot be over estimated. Within a
century II has increased a mile and a quarter
and at about the rate of one sixteenth OF a mile
on an average, for the last twelve years
T" The opposite side from the Hook does not de-
crease as the Hook increases, and we have there
fore no compensation. In other words IL is an
actual yearly depreciation Of our harbor. and
stated by Professor Bache, in a paper on New
York Harbor, read recently before the Scientific
Association held at Baltimore, that the action of
the flood tide at Sandy Hook in Transporting ma
terias nearly six times that Of the ebb, and
hence the growth Of the Hook and, also, that
this growth could be arrested by means of jetties
The fact, however, Is admitted without reserve
by the best marine Engineers, that tidal harbors
can be improved at comparatively small cost
and reference Is made to the improvement of the
river Clyde and the Harbor Of Glasgow, etc to
convince the most sceptical.
''We find 1t stated that Liverpool has We miles
Of river wall, and that the quays measure four
teen miles in length-the total water space at
forded by the Liverpool docks being two hun
dred acres. Here IL an example OF enterprise
and liberality which might be wisely followed
by our State and city authorities for the snconr
agement Of commerce.
TARIFF DEcIsIoSs.-The Secretary of the
Treasury has decided that ''crude naptha, - an
oil made from bituminous coal, in New Bruins.
wick, by distillatiOn, and used chiefly for ilIu-
minating purposes, shall be olassed in schedule
Z of the tariff Of 1857, and subjected to Is per
cent. duty. Collector Austin, of the Boston
custom house, had placed it in schedule C at
"a per cent. |
Also, that labels" being manufacture of
paper, are properly clsssed by Collector Schell.
of New York, in schedule G, at "a per cent
duty.
And, likewise, that cudbear," an article
used in dyeing, not in crude state, rightly
belongs to schedule @, Of the tariff of 1857. to
which it was transferred from schedule H in
the tariff of 1916, where it is mentioned by
name; and that the duty chargeable thereon is |
3 per cent. This decision also sustsins Col |
lector Schsll, of New York.
RE-NoMIsArED.-The many friends of the
Hon. Joseph Miller, Of Ohio, will be glad to
hear that, at the congressional convention which
net at jackson one day last week, he was
nominated for re-electien by acclamation. The
was very largely attended, enthusi-
sstic, and harmonious, and was addressed by