The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1861-08-15
debated and carried, with the amendment insisted
upon by the Bank of Commerce.
insisted

York Boston and Philadelphia associated TO take Jointly
.s MY millions at par, with the privilege of taking at
| r'r an audtohal hlty milAon October 10, by giving
their decision TO the Department October and also at
par MY million December Is, by giving their decision
ecenher unless said amount shall have been previous
subscribed a. national Loan IL being understood ana
agreed nat no other stocks bonds or Irea
suN notes except those payable on demand shall be no
eoate1 or paid out by the government until February
lto2 should the associates avail OF both prvl ,gesor
uh December Is, 1851 should they avail OF the nst
ohly-or until October l5 1861, if they take but the
present hfty milon-eXcept that the government may
hegoae in Europe, or through subscriptions to the ma
! tlonal loan
! On the passage of this resolution, which secures
the negotiation a motion to adjourn to eleven
O'Clock A. NJ. tomorrow was at once carried.
The money market continues dull. Paper is
very scarce, and capitalists are content to await
the Development Of the schemes for supplying the
| government with money. On call, with sound
collaterals, the brokers are borrowing at a per
cent.
The foreign exchange market closed dull with
downward tendency. Rates must fall lower yet
before it can be profitable to import gold. Bank
ers ask l07 a for sterling and 5.35 for francs
Stocks opened this morning with Improving
tendency, the battle in Missouri being regarded as
at least drawn. There was fair demand for two
year Treasury notes at an advance of a per cent.
sees rose q, but yirginias fell 7. and Msscurs Il
1t is supposed that some of the sales of Virginias
were for the account of parties who were in pos
session of the information given below. The
general railway share market was better than it
was in the street last evening after the first
OF the fight in Missouri but comparing the prices
with the last authorized quotations Of yesterday
they show decline of Is in New York Central, u
in Michigan Central, % in Illinois Central and Is
in Rock Island. As the session progressed, how
ever, the better feeling increased, and at the
adjournment the decline had been recovered. Be
tween the boards the market was firm, a good
effect having been produced by rumors that the
banks were concluding satisfactory arrangement
with government. At the second board the whole
market was better, and closed steady, the follow
ing being the last quotations:-Uni States 6s,
registered, 1881, s7H e; Virginia 6'-, "a IL q;
Tennessee 6's, AS "A; Missouri 6's 4324 a A;
Pacific Mail Steamship Company, 7714 Is; New
York Central Railroad, AZ "a Erie, 1914 "a;
Hudson River, 33% "a; Harlem, 1919 IL; do.
preferred, 20 a q: Reading, 364 ~ Michigan
Central, AZ q; Michigan Southern and Northern
Indiana, 1874 IA; do guaranteed, 2s1% 291l;
Panama, LOG lO7; Illinois Central, G414 65; Ga
lena and Chicago, 66 a 4; Cleveland and Tsledo,
30I 4; Chicago and Rock Island, 40 a 4.
Letters received here to-day from the South
mention that bill has been introduced into the
Confederate Congress at Richmond, conliscating
all Southern bonds and evidences of Southern
State Indebtedness which are not registered by
certain date as the property Of citizens of the Con-
federate States, or Of citizens Of nations at peace
with them 1t is added by the letter writers that
the bill viii! probably become a law We are thus
enabled to understand the heavy purchases
of Southern bonds which have been made
for Southern account within the past month.
The confiscatiOn of Southern bonds held at
the North has evidently been contemplated for
some time, and who has observed the
tenor of rebel legislation doubt but it will be
vigorously carried out. It will be merely another
step in the career of reputation and dishonesty
which the rebels have chosen No idea can be
formed of the amount of>Virginias, Tcnnessees,
North Carolinas, Louisianas and GcOrgas held at
the North. Perhaps $40, 900, 900 will cover the
whole amount held, including the bonds in the
hands Of savings banks here and banks of issue at
the West. The whole must now be considered
valueless. We take pleasure in recalling in this
connection, the repeated warnings we have given
our readers against purchasing any of the bonds Of
the rebel States.
AS the Vanderbilt steamers have again been
brought upon the tapis by the agents of the Navy
Department, it is worth while to state once more
the position in which their case stands. Mr.. Van
derbt has offered them to the government for
naval or transport service--for either of which
they are the most suitable vessels sailing under the
United States flag. He is so anxious that the
Vanderbilt should be employed in the national SER
xCn hat I'm has off 70 ntv har
for nothing to the government; this Of
fer having been informally declined, he offers
to sell her, the government to appoint three ap
praisers to fix the sum to be paid for her. He
offers, Also to sell his other steamers to govern
ment on the same terms-that is to say, at price
fixed by the departments own nominees. No
steps whatever have been taken by the Navy De-
partment to accept these liberal offers. There is
no ship in the world so we'll adapted for the chase
of privateers, or the transport of troops or tie
blockade of the principal Southern ports as the
Vanderbilt. She is the fastest ship afoat, is built
with unusual regard to strength; and is so staunch
a craft that her owner never insured her. Proper
ly armed and manned she would long ago
have caught the rebel steamers which have
been running out to sea and capturing scores of
prizes under the noses of our slow going ships
Of-war. Inc Otner vessels OF vanderbilt 8 Heet
would also constitute an invaluable addition to
our naval force. Why is it that they have not
been secured? Can there be any excuse for such
shameful neglect of the commercial and shipping
interest? Can it be wondered at that people
should conclude that Vanderbilt's vessels have not
been bought simply because he refuses to make
terms with the lobby which controls the Navy De-
partmenR
The business of the Sub Treasury was as follows
to-day
Rocen,s $40 $50 "a
For customs. Observation-Disclosures. 5000 90
Treasury notes. Vl0o w
Ba!ance 'oil','so 10
The Indemnity Fire Insurance Company has de-
clared semannual dividend of four per cent, pay
| able on demand.
| The Lcnox Fire Insurance Company has declared
semi-annual dividend Of four per cent, payable
! on demand.
| The Pacific Mail Steamship Company has de.