The New York herald., 1862-02-27

Il
and Rock Island. 4eh q; Chicago, burlington
and Quincy, 644 "a; Milwaukee and Prairie du
Chen. 2O1. q; Cleveland, Columbus and Cincin
natl 100 ITO; New York Central rs of 1876, l03
lOl1s; Erie third mortgage bonds. 96 a "a;
Michigan Central SIS, first mortgage, l02 "a;
Illinois Central bonds, rs, "a a So. After the
second board the market was rather better, and
prices a shade higher.
The successes of the Union army In Tennessee
are likely to be followed by the most important
commercial consequences. Military men disbelieve
altogether the stories which are current about
successful rebel stand at Murrees or Memphis.
They say that the fall Of Nashville involves the fall
of the entire State of Tennessee within few days.
If this expectation be confirmed by the facts, we
shall shortly witness commercial changes of the
most startling character. The defeat and fight
or surrender of the rebel Governor Harris and his
pseudo government would of course be immediate
ly followed by the organization of new State
government, composed Of Andrew Johnson's
friends who are loyal to the Union. This govern
ment established Professionally, and acknowledged
at Knoxville, Nashville and Memphis the State of
Tennessee would resume its position as loyal
State, and the present embargo on trade between
it and Kentucky and the other Western States
would Immediately be raised. Now, Memphis is q
distributing point for million bales of cotton each
year. Assuming that the obstinacy of the rebels
and other causes prevent one-third Of this
cotton going to Memphis for the present.
there would still remain G60,O0O bales to
come forward as soon as Tennessee was
restored to its position in the Union. A
portion of this cotton ought to begin to come for.
ward within thirty days from the present time. 1t
is easy to see that the bare announcement of re-
ceipts of cotton at Memphis. and shipments thence
to the North, would revoutonize the cotton market
both here and abroad. Six hundred thousand
bales would supply our Northern spinners with all
they need, and would leave some bales over for
export to Europe. Assuming that Louisiana and
Mississippi do not follow the example of Tennessee
without some fighting, the whole of the cotton
which we may obtain at Memphis would have to
come North to Cairo and Cincinnati, and thence to
New York, Philadelphia and Boston by rail. The
Northern lines Of railway would be taxed to their
utmost to move it, and business generally through
out the North would receive stimulus such as has
not been felt since the beginning of our troubles in
October, 1860.
The business Of the b-Treasury was as follows
to-day
-ror CUSTOMS. 2SS COO 90
Ia, OIL 477 70
oiahco.''' 4SOJ,e ,et4 70
The exchanges at the Bank Clearing House this
morning were $l7,sOl 1889 63, and the balances
81 ,l5O,sl6 OF.
The Wamsutta Mills on Monday paid dividend
of twenty-five dollars per share upon their old
stock amounting to $l32, ,500 At the same time
the certificates of new stock, to the amount of
$400 900, were issued. The Lawrence Manufactur.
Ing Company, 4per cent ($40 per share) payable
February q.
The interest on the second and third mortgage
bonds of the Erie Railway Company, due on the LIST
of March, will be paid on that day at the Office of
the Treasurer, Erie place, foot of Duane street. At
the same time and place holders of the certificates
of d. s. Gregory and J. G. B. Davis, trustees, will
receive payment of the coupons of the fourth
mortgage bonds, due April l. 1860, with interest
from May l, 1861, to March l. 1862.
A bill is before the Legislature Of Wisconsin for
the relief Of holders of railroad, farm mortgages
city, county, town and village bonds issued in aid
of railroad corporations. The Milwaukee Neers |
thus states its provisions hsi
tprovides for tho appointmcut OF three commission
TO whom the railroads TO pay At the
cent for each bushel Of wheat they carry that in
proportion Tor other freight to create sinking with
which to pay of tho mortgages. Tho holders be
paid in proportion TO what thoy paid for the mortgages
The funds TO be placed in the State Treasury and paid
out on the order Of the commissioners.