The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1861-02-15
FINANCIAL AND COMMERCIAL
THURSDAY, Feb. l4-6 p. M.

The money market Ia without change. some
failures continue to occur, both among houses in
the Southern trade, and among houses which were
really ruined in 1867, and have since been strug.
CLING along in the hope Of better times. But it
seems to be expected that fair business will DO
done this spring with the West and North.
Foreign exchange is dull; rates for bankers
bills are about lO414 1921 The market will not
fairly open till tomorrow.
The decline in the stock market noticed yester-
day brought in some fresh buyers this morning
The recovery in prices which ensued was assisted
in the afternoon, by news that the sub committee
Of the Peace Conference had agreed to report Mr.
Guthrie's plan Of compromise, with condition
STIMULATING that territory shall be acquired
without the consent of threefourths of the Senate
This confirms the private sdvices Of most Of the
leading brokers, and may probably be considered
the first practical step toward Q settlement Of the
pending political difficulty. On the strength of it,
everything advanced, and quite an active de-
mand arose for State stocks and some leading
railroad shares. Tennessees advanced "a; Mssouris,
"a; New York Central, Is; Reading, q; Michigan
Central, g; Galena, u; Rock Island, Il. The
greatest advance of the day was in Illinois Gen.
trail, the prosperous condition Of which concern
seems 10 be attracting some outside attention; it
rose ~ per cent. Erie rose n; this property is
soon likely to derive marked advantage from the
use of the long dock, which shortens the time Of
the freight trains to Dunkirk by Buffalo by about
nine hours. The following were the last quo
tations Of the day -Tennessees, 72L a Il;
Virginia Es, 76 u; Missouri 6's, 664
a 5s; Canton, 141I; Cumberland Coal pre-
ferred, a s; Pacific Mail, si1I So; New York
Central, rs Is; Erie, s21& n; Hudson River
431H q; Harlem, 1913 n; do. preferred. 404
"a; Reading, 43 a; Michigan Central. 56l4 a
u; Michigan Southern and Northern Indiana, l411as
81; do. guaranteed, 1924 a 80; Panama, ll2L a
1857; Illinois Central, 1874 "a Galena and Chi
cago, TX a q; Cleveland and Toledo, $685. a x;
Chicago aud Rock Island, 571s a 5s Chicago, Bur.
lington and Quincy, 7lH "; United States 5's
CID, 861a a S714.
Mr. Secretary Dix has issued the following pro-
posal for new loan Of $1,000 0OO:-
TREASURY DEPARTMENT, Feb 13, 1861
Sealed proposals will be received at this department
until twelve O'Clock noon Of Saturday, the 23t day Of
February instant eight millions OF dollars OF the
Of the UDited states be issued under the act OF Con-
lress the sih instant authorizing loan at which time
the proposals viii be opened and decided The stock will
be Ie,mbuIsabe in twenty years from the LIST Of Jan
airy last and Ill bear interest at six cent per annum
pay able semi annually on the ds days Of January and
July of each year.
sand dollars will any offer be considered unless
per centum Of the amount thereof is deposited with
deposry Of the United States, subject to the order OF
the Secretary OF the Treasury The certificate Of such de-
post must accompany each proposal The offer must be
UNCONDITIONAL hout reference TO other offers must
state the sum offered for each hundred dollars OF such
stock.
proposals should be endorsed on the outside Pro
posas for Of 1861 and be addressed on the outside
TO the Secretary OF the Treasury Washington d. G."
The bidders under the foregoing condition Will be i'm
medatey informed BY mail OF the decision their pro
hos ynncf .,uf
offered and accepted with the Treasurer of the United
States with tho Assistant Treasurer at Boston, New
York Philadelphia, before the first day of March
poximo Should successful bidders desire to deposit
other points on communicating such wish TO this depart
mept II WIN be consocr
CertG ates of inscribed stock will bc issued TO the &C
cepod bidders their assigns in sums Of thousand
five thousand ard ten thousand dollars to the
which they be respectively entitled upon their de-
poss sfoieeaid, carrying interest from the date Of
such deposits at the rate OF per cent Such stock will
be transferable the books Of the Treasury agrccaby
to the regulation Of the department.
Should any of the bidders request tilcacs
Of stocks with coupons Of semi annual interest attached
payable from the LIST Of July next such certificates will
be issued in Of thousand dollars each such
coupons attached thereto and such coupon stock instead
Of beng transferable the books OF the Treasury may
be and transferred by the delivery of such
ticaies The interest ON this coupon stock from the
date Of the deposit until the first day Of July win be paid
depostary with whom the principal was deposited.
The preliminary deposit Of one per centum required
from al bidders under this notice will be included In the
final deposit Of principal by successful bidders and will
be directed TO be Immediately returned TO unsuccessful
bidders. JOHN A. DIX, Secretary OF the Treasury.
1t will thus be seen that the bonds are to be
skies, running twenty years. that the bids must be
sent in by Saturday, 23d, and the deposits on ac
count Of New York bids made with the Sub Urea
OF this point before four p. NJ on Friday 22d
1t seems to be supposed that the loan will not
command a higher price than 80, unless events
should change the complies ion of affairs between
this and the 22d. Had Mr.. Sherman's project for
obtaining the endorsement Of Ohio, Pennsylvania,
New York and Massachusetts, been adopted, the
bonds could probably have been sold at par Mr.
Garnett's objection thus bids fair to cost the coun
try $500, COO; and as the eight millions now called
for are wanted, not to carry out the purposes of
the incoming administration but to pay the over
due claims Of poor sailors, soldiers and Others
who starving for want Of their dues, ii is diff.
cult TO detect any compromising merit in the OBJ
lection. The law under which Mr.. Dix acts reads
as foll0ws:--
Az A,r AUTHORIZING A LOAN.
he enacted by the Senate and ousc OF Representa-
ves OF the United States OF America Congress Assem-.
hereby authorized at any tmc before the first day Of
July next to borrow, the credit OF tho United Stae
sum not exceeding twenty 1vo millions OF dollars or so
much thereof as, ID his opinion, tho exgclcics Of the
public service may require 10 be used in the payment OF
The current demands upon tho Treasury for the re-
dompton OF Treasury notes outstanding and 10 re-
place In the Treasury any amount Of said notes which
shall have been paid and received for public Dues
Sec 2 And b. u further enacted, That stock shall DO
Issued for the amount borrowed bearing interest not
exceeding six per cenum per annum, and to be REIN.
bursed within period not beyond twenty years and
less than ten years and the Secretary OF the Treasury be
and IL hereby authorized with the OF the Presi
dent 70 cause certificates Of stock TO be prepared which
sha be signed BY the Register and sealed with the seal
Of the Treasury Department. for the amount borrowed
IN favor OF the parties lending tho same thor assigns
which certificates may he transferred the books OF the
Treasury under such regulations may be established
by the Secretary Of the Treasury Provided, That
Dcatc shall be Issued for less than thousand
dollars And provided also That whenever required tho
Secretary Of the TT easury may coupons Of semi
annual interest payable thereon to be attached TO ccrth
Gates ssuc under this nct and any certificate with such
coupons &C interest attached may be assigned and trans
errcd by delivery Of the same, Instead Of being trans
ferrcd on tho books OF tho Treasury.
Sec o And b. II further enacted, That before award
ing sad loan tho Secretary OF the Treasury shall
10 DO inserted In two of the public newspapers OF the
city of Washington, and IN one more public newspa