The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1860-12-27

after the experience Of the past few days, no 6A-
claimer from the Department win command much
weight with the public. 1t is actually impossible
at the present time and until further and more mi
mute examinations have been made, to say that
any State bond Of the State Of Virginia, Missouri,
Tennessee, North Carolina, Maryland, Kentucky,
Louisiana or Ohio, that has been bought within .
few weeks, is worth anything. Even II 1t should
prove that the robbery ia not more extensive than
Bailey has confessed, we fear that the event must
give blow to State stocks from which 1t viii take
them very long time to recover. 1t il impossible
to conceive harder case than that Of innocent
parties who have invested their savings in State
stocks within the past few weeks, and who now
find that their bonds are, to them, no better than
waste paper. Henceforth no one can be expect
ed to buy State stocks without abstract of title,
such as is given with house or lot.
The excitement and indignation caused by this
affair was about the only subject Of conversational
Wall street to-day. In the foreign exchange market
very little business is doing; rates steady Money
lis growing easier, but the minimum rate for paper
is still one per cent month. The names Of the
houses in the Cuba trade which have suspended
within the past day or two are Mora Brothers
Navarro. Eladio Rubira, Macias CANARY
Albert Horn, and Dyckman, late Curtis Dyck-
man. All were substantial houses; their aggre-
gate liabilities must amount to several millions Of
dollars. The house Of Mora Brothers and Navar
70 was the heaviest receiver Of Cuba sugar in this
market. These failures, it is hardly necessary to
add, have been caused by the fall in sugar.
The stock market was dull but steady to-day
There ia no stock pressing on the market, and,
under present circumstances, there are not many
eager buyers. State stocks were steady; the
practical consequences of the robbery at Wash
ington have not yet been fully appreciated by
the public. Missouris advanced ONE per cent.
In the railroad shares the amount Of bust
ness done was quite small, but prices were
well sustained, and closed shade higher
than on Saturday. At the close of business the
market was steady, the following being the quo-
tations:-v Virginia 6's, Is 30; Missouri 6s, 6SH
60; Canton, IA l6; Cumberland Coal preferred,
7a9; Pacific Mail, s21l SO; New York Central,
74A q 70; Erie, "a a; Hudson River, Az 43;
Harlem Az "A; do. preferred "a q 50; Read
ing, IS q SO; Michigan Central, 4sH a "a; Aichi-
gan Southern and Northern Indiana, 1877 a IA; do.
guaranteed, 81 q "a; Panama, l15 a III; Illinois
Central, ee14 "A; Galena and Chicago, 6414 a ~
Cleveland and Toledo, 2s1S "a; Chicago and
Rock Island, 81 "a; Chicago, Burlington and
Quincy, SO a GA.
II seems that the prevailing political disturb
ances which have played such havoc with the
credit Of the general government and State stocks
generally have not injured the credit of the State
of New York. The bids for the 81 zoo, 900 State
loan seven per cents were opened at Albany to-
day. More than the whole amount was offered
for, and the lowest rate at which any was
awarded was l0l.07 per cent.
The recent disturbances at New Orleans which
have been alluded to from time to time in our
news columns, have checked consignments Of pro-
duce from the West to that port We hear that
southern planters are travelling to the North with
gold in bags for the purchase of corn, pork and
other supplies. On the other hand, the large num-
Der Of failures at New Orleans, and the unsettled
accounts between factors and planters, are induc
ing the latter to ship more cotton than usual to
the North, from Memphis and other points. The
overland movement of cotton this year promises
to be quite large, while the arrangement Of trade
produced by the troubles at New Orleans secures
o speedy return Of the gold which we are sending
South.
The news from Europe by the Canada shows
that the English have not yet begun to be fright
ened by our political troubles. The Canada brings
over 5000 900 in specie, but the Bank has not
raised the rate ofinterest breadstufs are firm and
cotton is no lower. From present appearances
there is every prospect Of q continuance of gold
shipments from England to this country; by and
by we should think these must tell on the Bank
Of England.
The United States government applied this
morning for an injunction to restrain the Bank Of
the Republic from issuing or disposing of any Of
the bonds stolen from the Department Of the Inte-
rior. We have received the following note from
the Cashier in reference to the subject
TO THE EDITOR OF THE HERALD.
The statement In some OF the newspapers that this
bank held the bonds distracted from department Of
the government at Washington has foundation what
in truth. The bonds not and never have
been possession Of this bank, far the knowledge
Of any OF its officers extends. Neither Russell, Majors
waddel, any member Of the firm, owe dollar 70
the bank Nor do we directly or indirectly hold
solitary acceptance OF J. B. Floyd Secretary Of War.
X. II. LOWRY, Cashier
BANK THE RErrBIIc, Dec. %, 1850
This seems explicit enough; but the name Of the
Bank OF the Republic was certainly very freely
mentioned about election time In connection with
the extraordinary supply Of State stocks which
just then came on the market.
The Bank Of America has declared semi-annual
dividend OF three and one-haf per cent, payable on
the I'd Of January; the Long Island Insurance Com
bic January 2; the American Fire Insurance CON-
pany, an interest dividend Of three and half per
cent, payable January q the Panama Railroad
Company semi-annual dividend Of six per cent,
payable January 2; the Grocers' Bank, a semi-an-
nual dividend o. three and q half per cent, paya-
BILE January 2.