The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1860-12-28
FINANCIAL AND CONNER GAL.

THURSDAY, Dec, Ut L. VI.
The news from Charleston startling as it il, pro-
duced rather favorable effect in commercial cir
Giles to-day. The evacuation of Fort Moultrie, and
the concentration of the United States troops in
the much more formidable Fort Sumpter, were un-
derstood as indicating determined purpose on
the part Of the government not to suffer the pro-
perry of the United States to fall into the hands Of
the insurgents without struggle, and the indica-
ton strengthened public confidence. 1t i anarchy
that merchants fear, much more than bloodshed.
Stocks were higher to-day, though the market
was inactive. Some holders of State stocks took
the opportunity Of shifting their load TO other
shoulders. The recent robbery Of bonds continues
10 be freely discussed. and the doctrine that the
government can claim the bonds in the hands Of in
noccnt third parties is theoretically disputed. The
opinions of prominent LAWYERS quoted TO prove
that delivery, without notice Of any fraud confcrs
a good title to these bonds. We presume that
prominent lawyers will always be found to give
opinions which may give rise TO fat lawsuits. The
fact Is, however, that the government il going TO
claim its property wherever IL can find IT, just az
individual would do if his horse or his
ship or the deed Of his house had been
stolen. II may be very hard on innocent parties;
but what the government do. II must claim
It's property wherever IL is the victims will have
their recourse on Mr.. Secretary Thompson, Mr..
GODDARD Bailey, Mr.. Russell, Mr. Floyd or any one
else who may have had charge OF the bonds, or
conniyed or assisted ~ the robbery. The govern.
ment will, we presume, enjoin each Of the States
whose bonds have been taken not to pay the nte-
rest on such bonds. II this i resisted the matter
viii go into court; and Judging from the length Of
time which has elapsed since the New Haven Rail-
way bonds went into court. final decision may be
had in the course Of seven or eight or ten years.
In the meantime the individual htigants will have
paid, in the shape ~ costs large per centagc on
The bonds TO the lawyers whose opinions now
comfort them, and will have The satisfaction Of
knowing that II they win the case at last, .he
United States government pays it, own costs
only. The event should be q warning To the
public. No man should deal In bonds which are
not transferred ON some regular transfer book.
No man should hold property which may have
come to him from q thief, and may be reclaimed
by the real owners. The disclosures made on the
arrest OF Bailey prove that three millions OF
bonds were left in the keeping Of single
irresponsible clerk. who received small
salary, and had given no security. IL
this i the way business Is done at Washington,
who shall say how many more bonds may not be
ahoat waiting till--some fresh robbery coming 10
lipht-the government steps in 10 reclaim them
The business in railway stocks to-day was small.
hut prices were firm. There IL q retail demand for
stocks by parties who arc tired Of having idle mo-
ney in bank; but really. in the present condition
II the country. with civil war quite imminent. II
must need some courage To look for an advance
in stocks, This afternoon the market wa rather
quiet, and stocks closed steady at the following
quotations; United States s. 1874. % q 81; yir-
ginia ca, IS 70; Tenncssces, u u; Missouri g.,
Cs1s =; Canton, IL, L.: Cumberland Coal pre-.
fcrred. ~ So Pacific Mail, s2iS 81; New York
Central, 75ss -; Erie, - az Hudson River, 81
~; Harlem. IL 4; do. preferred. 20 a =. Read.
ing. IS -; Michigan Central, 49, a.; Michigan
Southern and Northern Indiana, ls5. "a; do.
guaranteed, SlI =. Panama. ex div, IL III;
Illinois Central, Gss, y 60; Gslena and Chicago.
"a, -; Cleveland and Toledo 80 y; chi.
csgo and Rock Island. 50,I =: Chicago. Bur.
lington and Quincy. 81 81.
The money market was unchanged to-day. Mo-
ney u quite abundant call. hut hear ~ no
paper going at lees than twelve per cent per an
num- In exchange little was done: rates are
unchanged, via: 1oi y for bankers bills, and
100 100 for mercantile bills.
The commercial ordinance OF the South & arc.
lima Convention dated yesterday, and published in
the HERALD Of thi. morning, appears to have The
effect OF closing The port Of Charleston 10 foreign
trade. By The 9Th section o. that ordinance il j.
ordered that ''a Official acts % The Collector and
Naval Oficcr in which Il is usual and proper 20
tot forth The authority under which they act shall
be n The name Of tho state o. South Carolina"
According 10 this clause Nr. Cclcock will hereaf.
ter issuoslcsrances in the name Of South Carolina
My. Nov Charleston i known to the foreign
wesd only as port 81 entry 10 the United states.
Englanduor France. nor spain nor Russia.
s.. :. other nation, has any cognixance Of
80" tina rs on Independent state. No