The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1861-12-27

| Il per cent; Galena, Illinois Central guaranteed
and Toledo were q a per cent better Paclhc
Mail rose Q per cent. State stocks were in more
active demand at an improvement. At the second
board the market was all strong. Erie preferred
was in demand at 49--an advance of ~ per cent.
Next week the new company will enter into pos
session, and the seven per cent ON this stock
will be certain thereafter. Galena was also
wanted at an advance over the mornings price.
The general look OF the market leads to the opinion
that we may have an active upward movement,
especially if General Mcclellan undertakes and is
successful in military movements. The following
were the closing prices of the day:-United States
6's registered, 1881, Sc SO; do. 6's coupon 1881,
sOH 81 Indiana 5's, rs n; Virginia 6s, AZ n;
Tennessee 6's Al Al; North Carolina 6's, SO n;
Missouri s's, SO X; Pacific Mail, s7s4 So; New
York Central, TN ss Erie, 2714 "a; do. pre-
ferred, As a "a; Hudson River, ssa IA Harlem,
II IL; do. preferred, 26A 81 Reading, SO q "a;
Michigan Central, 46Ha "a; Michigan Southern and
Northern Indiana, Is a 49, do. guaranteed, 3s14
"a; Panama, 1917 l0s; Illinois Central, 5s1a n;
Galena and Chicago, 64A "a; Cleveland and To-
ledo, 81 "a; Chicago and Rock Island 46s4 At;
Chicago, Burlington and Quincy, So "A; Milwau-
kee and Prairie du Chen, TX 10; Cleveland,
Columbus and Cincinnati, l0l; Michigan Central
SIS, first mortgage 90 q 81; Illinois Central bonds,
rs, So 81.
The attention of Congress should be directed
without delay to the new policy adopted by the
Emperor Of France. That enlightened sovereign
has undertaken to foster the manufacturing indus
try of France under free trade policy, with
view Of competing with England in all classes of
manufactured goods. In order to compel the
French manufacturers to do their best, many
classes of British goods are now admitted to the
French markets free, or on payment of a small
duty. The consequence is that the French manu-
factarers are already producing articles fully equal,
and in many superior, to the best products OF
British industry In the present state of foreign
relations the opportunity afforded by the rivalry
between France and England ought not to be
neglected. BY giving a preference to French
goods we have it in our power to establish the
French manufactures on substantial basis.
In ordinary years we take from Great Britain
about 600 worth of manufactures of
wool, iron, cotton and silk. All these
goods are made in France as WELL The
adoption of system Of differental duties discrmi-
mating in favor of French products, would secure to
France the monopoly Of our markets, and would
save the English the Affections consequent upon
course of dealings with "a people so ncurabiy lost
to all sense Of honor as ourselves. Should it
prove that Gen. Scott is the bearer of message
tending to show that France is still faithful to her
old traditions, and may be relied upon friend in
the hour Of trouble, it would be legitimate and
wise to take into consideration the expedency of
an early alteration of our tariff, with view to the
establishment Of closer commercial relations with
France. No nation can be expected to trade on
good terms with its enemies as with its friends.
Mr.. Cisco has received supply of 7.3O notes,
bearing date October /, which he is ready to sell
to applicants. He publishes notice in another
column which will be of interest to holders of six
per cent Treasury notes. The business of the Sub.
Treasury was as follows to-day
Total receipts. $40 .036 SO
-aor customs l07 0O0 90
On account Of loans Observation-Disclosures. S9,277 90
Payments, including redeemed eper CT notes 1929 1855 IS
baahce'. ..l23,4lo 81
The exchanges at the Bank Clearing House this
morning were $is,960,377 0s, and the balances
81 1872 ,274 81.
The Tradcsmens Bank has declared semi-an-
nual dividend of three per cent, payable on the Sd
of January; the Seventh Ward Bank, seman-
the Bank of North America, a semi-annual divi-
dend of three and half per cent, payable Janu-
airy s; the Manhattan Gas Light, five per cent,
payable January 6; the Panama Railroad Com
pany its usual quarterly dividend Of six per cent
payable January 2; the Western Railroad of
Massachusetts,, a semi-annual dividend of four per
cent payable January |; the Connecticut River
Railroad, a dividend of three per cent, payable
February l; the Fitchburg Railroad, semi-annual
dividend Of three per cent, payable January l.