The New York Herald Newspaper, July 16, 1860, Page 8

—_ (UR EDUCATIONAL INSTT; -UTIONS. Cammencement of Rasseiner Polytech= mic College of Scl/.mve—The Graduating Ciase of 1860—The xercises—Commence- ment Ceremonie’, Ko, OUR TH oy COMPS PONDENCE, Troy, July 12, 1860. Among OD 4, science, of art and literature, hereabouts, Aus bas beer, a gala week, marked as it has been by the annual eX¢ rcisee of the commencement reunion of the | Renseélwor Polytechnic College, which institution was Sounder, in this city by the mupificence of the late Stephen Van “Rengsclaer, and incorporated by the Legislature as earPy an the year 182 At that time it was thought that We founding of a school more specific in its scope “apd aim in reference to what may be termed the solid sciences than the other colleges were then known to be would be fully justified by its results in sending oat each year to the world aclase of young men whose mission it Rboukd be to develope the extent and fertilty of OUF ORs fiona) resources in the realms of mining, railroad oan- faruction, bridge building, chemistry, botany and all kein. @yed studies and investigations. It s but just to sey that he reealt bas re than compensated for all the early etruggice « Js through which the institation Bas porved, ont attained its present powerful posi- Mion as a schoo! of scientific learning, whose graduates are, ans! for years bave been, doing their full share wm redeem ing the country from ite primeval state and wringing it to ite present condition of grandeur and glory ‘Tre examinations preliminary to these, the closing ex- ercecs, bave beon going on in the mechanical le >ture room during the past six days, and it is proper to say {QA they are, probably, of all similar exercises, in the ‘various colleges of the country, the most searching and Giaborate, compelling the etadent to know whereof he ‘and not seem to know without some foundation in Fine number that passed into a candidacy for de- @rece this year was mmusually large, and they all acoom ‘Plshed the fipal ordeal with commendable credit alike to thempcives, and the able and untiring instructors who Rave, by years of labor, led them out into the pleasant elds’ of useful knowledge, and {rom whence they now into that wider area, where practice will take the lace of theory—the world. At the close of the examina Tione to which we have adverted the annual proving of ‘heees took place in the main lecture hall of the College op Tuesday and Wednesday, the 10th and 11th insts., in ‘mocordance with the following schedule:— ‘James W. Birdsall—Review of a Howe Truss Bridge on the Union Railroad, over the Poeatenkill, Troy, N. Y.; “Alberto de Castro—Review of an Arched Truss Bridge on the Albany, Vermont and Canada Railroad, over the Mo bawk river, L. R. Dias—Theory of Atmospheric Elec- tricity, R. 0. Dodge—Review of Coscod Drawbridge on the New York and New Haven Railroad; FE. M. Grant— Review of « Drawbridge on the Memphis, Clarksville and Louisville Railroad; Henrique Harris—Tacory of the ‘Trade Winds, George C. Holton—Review of the Lattice ‘Truss Railroad Bridge over the Hudson, at Troy, N. ¥.; ‘Obarles McMillan—Review of the Hydraulic Motor of the ‘Nail Factory; Ramon Matas—Design for a Stone Arth, with oblique axis; Calvin Pardee—Essay on the Tnetribution of Rains; John Pemberton, Jr.—Review of ‘We Tunnel on the Union Railroad, Troy, N. ¥.; Wm. H. Searles—Design for a Wrought Iron Girder Bridge; Au- relic Serrano—Review of the Niagara Suspension Bridge; ‘Wm. S. Simpeon—Fssay on the Manufacture of Coal Gas; ©. E. Smitb—Review of the Trussed Arch Roof of the Union Railroad depot, Troy, N. Y.; F. RR. Smith—De- ‘ign for a Whipple Iron Bridge, with Hodgkinson section, en the Rensselaer and Saratoga Railroad; C. B. Thomp- weo—Exsay on the Preservation of Wood: J.D. Van Bo. ven, Jr.—| re ‘ve Suspension Bridge over Moséne creek “near Newburg, N.Y. ond The most elegantly written, tersely and eloquently de. Revered of these were those of Calvin Pardee, of Hazelton, Pa., upon the “Distribution of Rain,” ‘and that of James’ W. Birdsall, of this city, upon “Howe's ‘Truss Bridge.” Both of these productions evinced, for men, uncommonly profound research, and were to with evidence of deep, interest by those pre- went. The of William 8. Simpson, of Baltimore, Ma., on the “Manufacture of Coal Gas,” af well as that of Gharles B. Thompeon, of Houston, Ga , on the “Preserva- tion of Wood,”’ were exceedingly creditable productions, ‘and were most interestingly written and delivered. Mc and saereier $0 the cna Dex et tee deere, , and just anterior to t ferr are taking tu Rand’s Hall, where one of the moet Drilliant and fasbionable audiences, ever convened in this to listen to the efforts of those 1 ote I observe— His Honor Mayor Isaac McConhie, Jr.; Rey. Dr. N. 8. 8. D. D., LL. D., President of the College: Hon. D. : Hon Join A. Griswold; Rev. Dr. Fearing, of ef bis institution; Professor Lewis, of the University of Trey; John T. McCoun, Fsq.; ex-Attorney General Gard- wer Stow; Rev. Dr. Duncan Kennedy, and many others. ‘The following programme, te being observed — Salutatory—John D. Van Buren, Jr. Attractions of Natural Science—Wm. H. Searles. ‘The Mission of ineer—Chas. McMillan. bt Wander! Edward M. Grant. Vaiedictory—John Pemberton, Jr Report of Academic Board. ‘Address to Graduates. Conterring Degrees. The oration of Charles McMillan, of Moscow, Russia, ‘pon the Miesion of the Engineer,’ was a striking pro- @nction, delivered with a becom |ngly modest and effective Hrce, abd was repeatedly applaaded at its close, when be ‘was showered with bouquets. These specches were followed by the formal report of the Academic Board, an address to the departing class by President Beman, which is always an able feature of the eccasion, the conferring of degrees, and the exercises were ne current year, The following named gentle- ed the degree of C.F. (civil engineer):— Richard Despard Dodge, Brooklyn, N. Y.; Edward Maxwell Grant, Saratoga, N. ; George Clement Hotton, Belleville, C. W., Charles McMillan, Moscow, Rus: sia; John Pem Jr., Albany, N. Y.; William Henry Searles, Cincinnat!, 0.; Aurelio Serrano, Maracaibo, Vene- suela; Charies Edward Smith, Mobile, Ala. ; Felix i 4 Robertecn SI Nashville, Tenn., and John Dash Van Buren, Jr., Newburg, N. ¥. ‘The following named gentlemen received the degree of TE (erver: phica! engineer) —James Wilbur Birdsall, Ez. Alberto de Castro, Havana, Cuba; Luiz da Rocha Du ir., Bahia, Brazil; Henrique Harris, Mare- carbo, Venezuela, Ramon Matas, Barcelona, Spain. Amnual Commencement of Taft's College, Near Boston—Its Eligible Location—The Commencement Exercise ndidates fer Honorary Degrees—Ba: t im the College Dining Room—Remarks of G: ernor Banks and Other Speakers—Lite- rary Exercises in the Chapel. OUR BOSTON CORRESPONDENCE. Bostox, July 11, 1860. T bad the pleasure of attending to-day the Mfth annual commencement exercises of Tuft's college, @ young and Wigorous institution founded and supported by the Uni- svertaliet denomination. The college buildings, compris- omg ® large brick structure, containing the chapel, library and recitation rooms, three large and comm>tous houses eccapied by the students, are plearantly sitaated on Wal- wot Bill, on the Boston and lowell Railroad, about five miles from this city, in the town of Medford. The prompect afforded from the roof of the main edj- foe is unequalled by any in the country The view cmbraces a large tract of country, Pounded on the cast by the glistening waters of the broad day of Massachusetts, while a range of jow hills shuts in the proepect on the weet. Ona clear day there are twen- W7-three cities and villages visible to the naked eye, all ‘within « circle of twenty-five miles. To the cast is Bos boat races, winding about it H too, may be seer the half dozen different Newton, the villages of Brightoa, bast; Watertown, Waltham and range of green hills only prevents a view of Lowell, with ite Buge mills, lying beyond. Indeed. the eye cannot but upon tome city or village in any direction, apd over ‘Gaarietiown jooms the gray granite obeluk of Banker Biapding out and clearly dened t the blue Qe another bacd, amt Auburn, From this eminence the country liet spread out et your feet like a huge map, with a dozen “new of raltvend oreaning ond Tecromaing each other, with rivers sounds, hi! valleys and ing, golden fields of grain and greet woodiand, mak ty vareing 5 1 eee was gone through wilh — EXRRCRS, ORDER OF J. Satutatery Oration, m lLatin—Orville il ie Hinckley, 2, Philosophical Oration: Individoal Forces—Otiver Pawn *@ Lowell, Windham, Me 2. ip, Uish Oration Po! tics— Benjamin Rammed Binds, Peete, & *. > Oration, The Tend ip the Reni—iine Bandy ‘ Rornop, Wr, ‘waville sydney Sao 5. Engiieh Oration; Lorenso de Medic x Windsor, Vt. Ps ae i ‘Deeertation, Conservativeism and Radicalism Ean porter, Hartford, Vt . ae aan; Life Sourcee—Williarn Adame Joho "°F Disertation; The Destiny of Oar Rerubis- | @urtis Waldo, New London, Maps | «or Dinvertaiion; The Athelem 800 F,a¢iciem of Politica Fimer Hewitt Capen, Stoughton, 10. Philosophical Gration; Science the Ally of Religion— James Fastwood, West Haven, Vt. 11. Valedictory Oration; A Nat‘ ona) Literature—Lorrin | Low Dame, Lowell. Benediction by Rev. Dr. P ation. oP’, men evinced a high of "ned Be ‘@ broad and ve pure di and fine delivery, show- ing that the 6 of the faculty were performed with f- deity apd honesty of purpose. Without desir- ing t© “appear invidious, I would notice the orationg, Messrs. > i, Hinds, Capen Dame, which “were meritorious in @ bigh . Mr. Porter's manner and mat. jer wore excellent, his delivery being fine and free from fault. Mr. handled his subject with ability and success, while his delivery was spirited and effective. He was the ‘and one of the ablest members of the Marsach' House of tatives last winter, and hase Laoag 3 future re him. Altogether, the exerciess were very creditable to the young gentlemen and to the institution. At the close, the degree of Bachelor of Arts was conferred upon the follow- ing gentlemen :—Elmer Hewitt Capen, Lorrin Low Dame. James Eastwood, Orville Hinckley, Benjamin Hammon Hinds, William Adams Johnson, Sliver Hawkes Lowell, Flam Porter, Silas Bundy Rawson, Sydney Sanders, Curtis Waldo, Hepry Bacon Brown, (of The rf ce of Master of Arts, the only honorary degree conferred, Rochester scope of tbo °. was given to John Chapman Porter, of After the close of the exercises of the |, beaded by the band, where a es made, which marched to the dining. bal , Made some capital he complimented the in- post-prandial remarks, in which sitation very highly for its high liverary standin and spake encouragin, ite prospects, thet tie colnace Skt soon reallge ‘the ait of $50,000, voted to it out of the back lands, the of which wore nearly ready to be paid into the State treasury. He assured them that the State would always advance the educational interests within her borders, by giving sub- stantial testimonials of its high rej . And after a few general remarks in regard to the institutions of learning within the country, and the benefits derived from them as the basis of the prosperity of the State, he closed with the expression of his high satisfaction of the position of the college. Eloquent remarks were also made by Rev. T. B Thayer, Charles J. White, of Chelsca, and others, the band play: ing selections from favorite operas at intervals. At half- past three a procession was formed and marched to the chapel, where literary exercises took place, consisting of an oration and poem. The address of Rev. Wm. R. Alger, of Boston, was of such acharacter as to defy any attempts tocondense, as it must be read as a whole to be appreciat- ed. It was one of the profoundest and most eloquent efforts of the gentleman, whose reputation is not inded by ‘New England alone. At six o'clock the exercises closed, and the audience re- tired to their respective homes. This closed a day which cannot but fail to have an influence for the best upon the Tuft’s College. T forgot to mention that a very large number of distin- gu clergymen and citizens were present, and seemed to be highly pleased with the exercises. Commencement of St. Bonaventura’s Col- lege, Alleghany. The annua) commencement of the above college, which is under the direction of the Franciscan brotherhood, took Place on last Friday, before a very numerous audience. St. Bonaventura’s College is delightfully situated near the charming little village of Allegbany, in Cattaraugus coun- ty, New York, and has attached to it some two hundred acres of land, in high cultivation. The New York and Erte Railroad passes just in front of the grounds, while the y river fows at the rear, andthe soencry all \ \ exercises, as usual, cae, Gaae, and severe examinations tn all the Engliah branches, Latin, Greek, Geography, History, Mathematies, &c.’ The exhibition gave general satisfac tion, and ‘at the conclusion of the exercises, Timon addressed the students andfaudience, ex: ing the great pleasure be bad experienosd during the examination and his joy at beho ding 90 many young persons who showed unmistakeable atafu- ture day a benefit to religion and soc . He 'y was particularly pleased with the accurate promenciation of the Latin, and said he had attended examina- tions of higher much pleasure. that they, as well as himee)f, could not but be edified and delightedywith what were deeply indebted w ‘idence for placi suca an institution In their midst; and that they were by all means in their power io aid the good fathers, and as- sist them in forwarding at the same time their interests and the interests of ion. The remarks of the Bishop were listened to with pro- found attention, and at the coclusion the audieace sepa- Political Intelligence. Ages AND Resipences ov 1He Caxpipates.—The folic wing table will be found convenient for the pocket books of politicians: — DEMOCRATIC NATIONAL PARTY CANDIDATES. -sidence. Age. Jobn C. Breckinridge... Kentucky..Jan. 16, 1821... 39 Joseph Lane.. Oregon... Dec. 14, 1801... 60 NATION. OCRATIC PARTY CANDIDATRS. Stephen A. Dong: «Ilinois....April 28, 1813... 47 Herschel V. Jobim corgia....Sept. 18, 1812.... 48 REPUBLICAN PARTY CANDIDATRS. Abraham Lincoln. <Tinoi#.. .. Feb, 12, 1809... 51 Hannibal Hamlin. .Maine..... Aug. 17, 1809.... 51 NATIONAL UNION PARTY CANDIDATES. John Bell..... -..Tennessee.Feb 18, 1707 63 Edward Everett Massachusetts... April 11, 1704 oo How Lixcoux Js To sx Exxcten.—The Milwaukee consin puts forward the following proposition: — All that is necessary to secure the election of Lincoln is to make eure of the vote of the State of New York. To obtain this vote should be the chief concern of the repub- lican party, and nothing would be more effectual towards this end than for Lincola to proclaim his admiration of Seward’s last on the Kansas question, and his determination to be guided by the sentiments which itembraces. This would be receiveé as a compliment by Seward and his friends, and would secure a great many votes from the conservative party. It would disarm the South of a portion of its animosity, and even if it should not keep the election from going to the House, 1+ might be useful if it did. Brecivriper in InpiaNa.—The Breckinridge democracy in Indiana bave called a mass State Convention, to meet im Indianapolis on the Sist inst. The cal) states that General Lane has promised to address the people on that occasion. ‘Tem Brack Rapicars.—W. W. Chapman, J. C. Harring: ton and Otis Simmons, three distinguished individuals, ne doubt, who denom|nate themselves a central com- mittee, bave announced that “ there will be a convention of radical abolitionists, held at Syracuse, N. Y., on the third Wednesday of August, being the 16th day thereof, at ten o’clock., A. M., to nominate Candidates for Presi- ent and Vice President of the United States ; also, to nominate candidates for Governor and Lieutenant Gover- nor of this State."’ And they invite “ the men and wo- men of this and other States, who occupy radical posi- (Kon on anti-slavery and temperance, to attend and take part in this convention.”* Panrims ix Missouni.—There are now four candidates for Governor of Missouri for the August election —Han- cock Jackson, Breckinridge democrat, Claiborne F. Jack- son, Douglas democrat; James B. Gardenbire, black ro- pudlican, and Semple Orr, nationa) Union party Baxp axp Sor Dicxzxsox.—The Louisville Journal says Danie! 8. Dickinson, who used to be the leader of the New York hards, but who joined the softea few months ago, has now gone back to the bards, and is supporting Breckinridge and Lane. He i@ with the hards and softs alternately. He ts with the hards when be acts from his beart, and with the softs when he acta from his head. Tue Democratic Jornwais iy Missorm: —The St. Louis Herald gives the following Ggures ip relation to the demo- cratic papers in Missouri) — fe Regie Decline supporting either candidate Not yet heard from , Total........ Owstxa Beat Berome Registry sudstantially abandons the contest in Connecti. ont, It pays that from every quarter of the State the oldest and most reliable democrats assure it that only by | acombination of the Breckinridge and Douglas men is there any chance left of beating the Lincolnites in Con- ‘necticut. They mightas well own beat at once, and go | off on @ cham Sght, each on his own hook. How. A. H. Sterne —The Macon (GA) Telegraph Jearps from a tource which it considers altogether re)ianle, Ubat this distinguished gentleman has declared for Doug: jas and Johnson; but on account of his fecble bealth may be obliged to decline to canvame the Stato oF to accepts position on the Dougias-Johneoa electoral ticket. “Thane Reaver He's Ow rom Ora.°—Mr. samen Red- path, the potoriont ineurrectioniet, of Boston, entled on the 19¢h inet., im the schooner Sarab Burton, for Bayti. Tt premmed that among the colored John Brown «ym. pathivers of that island be will find ample room to give went to his Deorrect opary sent mente Lspermsvest Casvinare ror Conemme.—Jouge L. F. De Bruler \# anrounced aa an independent cand. date for Congres in the Siret district of Indiana. Jono Law the democratic nomi‘ The dietrict i etrongly demo- erate, and the black rej wbiicane perfor to mabe 10 rege ao bem irene NEW YORK HERALD, MONDAY, JULY 16, 1860. =o 18 wu —§ Jeune wear Hy. | the >. amie, loan of for pet oy! authorized a6 per cent NC, put in bere with cargo shifted, and fre yeare of age, named Moses Pike, says te ALE". » 401 (09 O09, not a dollar of which has yet been called Toly 2th Tacs minke massed och, (6.) Che cate of Uae 114b inst, committed Buichle at she | 5? s his Trea (nto he port on the Sa or tn wane), Kennard, whlels r mel iy taking laudanm= ~ | for. It is surmised that Mr. Cobb renewed ‘had baa’ ber gargo roetowed, and wil = casted Baten Hotel yoeersa 2 m= Be) ory zon ab the Jest moment at 5, 6}, 54 and 6 per "hy bark Sar VeM his boareliig biuse, No. 839 Broad etreet,on Monday, | "7 "=" 2s gtosay,at measly an average 2 ec eens iee eee ple operat tcaas ach pair by nae ny heed v dhaden, ne lie oon ier tonaiavete marhct rate—in order to sow ‘wil be ‘tom ibe past or ” - when he was found ‘tn & room at the above hotel in a throw the responsibility of fanding th? F710 float. serra ene ie, rie ar Becca, to ro, al ROS oft | ng debt.on the boulders of i Uccemor. Sold Beir death, which took place Detween seven and o'clock | the impertations prove very heavy, as the» proba- r, Fg, Pepa raed last evening. Mr. Pike left a letter, from we are ‘ll, it is poseible that the income from Sawyer. She is tq oy able to glean some particulars of his history; but | bly will, one. abt po cause is easigned for the commission of the deed. The | toms may enable the Treasury Department to re- Ham ca aad SD eb and q substance of the letter is a8 follows:— Twetve 0" vk O'CLOCK, MipyicET. 1 have token landanum. The cause may be known hereafter. The omly relative I have in this country is & brother, Jacob Pike, Wilkesbarre, Pa. and he has the cor- rect addrets of my . My best friend in this city is deem a large proportion of the Treasury notes which mature before March, 1861. Should this in- come enable Mr. Cobb to pay off all the notes which are presented for payment before that date, Col Adams, owned by Capt we Capt Garena of about waa we | 0 43 . care of Mr. Salisbury, tin manufacturer. ie ae. my trunk ‘and books ‘are. and be will | it will devolve upon the mext Secretary of the Cp Hintuister for me, and do what is right. My deposit ‘2 | ‘Treasury to avail himself of the act of 1860 to fand Ca the Mechanic’s Bank is $110. Qpoisoal T am a born Jew, and wish to be buried and taken care of by my own nation. The letter concludes with a brief prayer in the Hebrew He stated algo that he was a member of Au the balance. Upon the merits of this sort of po- litical financiering it is hardly necessary to express an opinion, as between a funded and a floating % language ‘usta Encampment No. 6. Mr. Barouch, with whom he | debt there is little choice. In the meantime, the a Kodiak anid Avetio Soarded, and his friend Mr. Joseph, bot in stating | Coportunity of selling the new 6 per centa at a bark Emerald, Pierce, of NB, that he was a young man of fine in! attainments, and they cannot account for his self-destruction. handsome premium is being lost. Foreign exchange closed yesterday # fraction higher than it was a week ago. We quote bankers’ sterling bills at 109} & 110 for 60 days, and 110} aj for short sight; france 5.18} a § for 60 days, and 5.104 for short sight, At these rates, there would be @ margin for profit om shipments ef specie to cover dills, after paying freight and insurance, were it not for the competition among the bullion dealers, which has raised the price of bare very considera- bly. “At present it seems very doubtful whether anything is made—except perhaps by the agents of the |Rothschilds—on ‘bullion shipments against bills, At this date last year, bills were j per cent higher than they are now, and the present sharp competition fer bars did not exist. There are very few commercial bills in market. Large as the ship- ments of food are from this port, they supply but little exchange in comparison with cotton ; bankers FINANCIAL AND COMMERCIAL. Suxpar, July 15, 1860. The week which ended yesterday was unusually active, both in imports and exports. ‘The falltrade is about beginning, and the jobbers anticipate an unusually lively season, both in dry goods and gro- ceries. The West is very bare of all kinds ef goods; when the present crop is matured, ft cannot be doubted but the Western people will buy to the ex- tent of their means. We believe that the import of last week is the heaviest of the year, and one of the heaviest ever known in the history of the port. ‘A few more such weeks, and money will soon be dear enough. The following are the comparative tables of the trade of the port for the week and since January ]:— Spoken, Se. oth for San. Francisco, Jane 17, Ino: - hip ee in rn from Baltimore for Valpa~ oy 6 (nos: hence, aa before reported) rr tae am Se te ST loc Efwan, from Glasgow for Baltimore, July 1, lon 6 20—By pilot boat CH Mi No. juide, MeMuliin, from ‘Salem for Zanzibar, June 8, las: 19.30 ¥, lon 38 W, Ison, from Baltimore for Montevideo, Juno 17, lat 28 08 N, lon 39 Brig Joseph, 8 days from Cardenas, J) 1a838, lon 75 12— Florida. secigagaess ‘TMports. By For the Week. 1858. ‘ve50. 1800. who sell exchange must expect to cover with bul- Dry goods. meiaied $2,208,843 8;980,108 4,490,746 | lion. Antwerp, June Pair eny pena ‘Sampeon, NOrleans;. General merchandise, 2,027,608 2,300,607 3,363,795 | ‘The following has been the course of the Stock NYork. —_—_— LICANTE, June 22—Arr Ocean Wave, James, Savannah. ‘Total for the week $4.291,800 "6,280,710 7,684,541 | Exchange during the past month:-— aTurAsr, June 20—Awe Gustave, ‘Bd July 2;, Previously reported 60,396,881 124,600,682 117,008,355 June 6. June. June me. a July 14. iran, fase Shor A York. Sc un 1... annaea ia as 8 eae EN eS ne EXPORTS OF oo} AND on a. ay 10 41 3 Brawn, my rm by omelet For the week........ $1,208,183 1,055,083 1,477,931 49 68 ‘vase! Previously reported.38\444,278 82,414,883 48,643, Since Jan. 1......$94,447,901 33,460,916 46,121,351 Exports oy Sprcre. 32 ‘Clara Ann. Coombs, do. 1858. 1 1860. PBiarjues Poss, For the week... + 9637,240 2,488,350 1,300,000 4) anean Jay Are veer Seen doe tor Wort: Previously reported.18}000/796 96,316,496 22,408,990 fone Penanans ny Ar bere Forest ert Boston. Singe Jan. 1......$18,737;028 36,804,748 | 25,708490 | 34 will be noticed that all the speculative stocks 7 bea Rearare Yaar, Cronsaat i BOS arana), ‘The advices from all parts of the country are fa- yorable for the growing crops. Rain has fallen freely at the South, and all apprebensionsof injury to the cotton crop have been allayed. The first bale arrived at port on 3d inst.—an indication of an early crop. Unless the first frost should occur at an unusually early date in the South, the erop will probably come up to the planters’ estimate of five million bales. In the West the harvest news is very cheering. The wheat is beg cut as far north as the latitude of the Rock Island Railroad, and the yield is everywhere, north of fortieth parallel, pro- nounced to be fully equal to general expectation. The dreaded enemy of ghe prairie farmer (rust) does not seem to have been felt this year, and the ravages of the fly in the regions where itis found have created little remark, and may hence be presumed to have been less destective than usual. The news from Europe has led to liberal shipments of food from this side. Advices by the fast steamer state that the season has been so wet and cheerless both in England and France that even the finest weather, from the date of writing to harvest time, will not render the crop an average. If this be the case, it will be safe to look for an active export movement in breadstuffs this fall and next spring, and probably also an ad- vance in prices. The prospect is satisfactory to the Western farmer, but to no one else. Acrop failure in England is injurious to us as well as to the English. It paratyzes commerce, deranges thé money market, checks consumption, knocks down the price of cotton, and raises the price of money. Should the bad weather in England have proved as disastrous as is reported, our trade with that coun- try—which is our largest and best customer—mast suffer severely, and the extra profit reaped by Western wheat growers will be no adequate com- pensationgfor the injury. ‘The banks will probably show a handsome in- crease in specie to-morrow. The only export which will tell against the average was that of Saturday, 7th, which wasless than halfa million; to this must be added the Sub-Treasury gain, say nearly half a million. On the other hand, consider- able sums have been received from the East, and something from the South; besides which, on Thursday morning, the California steamer arrived with $1,518,000. The last bank average was $22,751,694, against $23,223,679 at this time last year; many expect that to-morrow the banks will show not less than $23,500,000. At any rate, the average will probably be a rising one. The move- ment of bank Joans, as usual, involves considerable uncertainty. Several of the large institutions complain of a scarcity of paper; ethers, on the contrary, assert that they have cartailed their aid to the mercantile community in order to maintain a strong position. The last loans average was $127,244,241; at this time last year the banks had lent out only $120,405 658. As commerce becomes more active, and the progress of internal enterprise more flourishing, it stands to reason that the loans of the New York city banks must in- crease in volume. Insuch matters there is no sach word as finality. At the same time, bank managers must remember thatthe developemert of trade are considerably higher than they were a week ago. The volume of business transacted at the Stock Ex- change during the past week was very large indeed; probably in excess of that of any previous week since the crisis. The revival of speculation and the im- provement in prices are mainly due to the prospect of an unusually large crop in the Northwest, which must obviously have the effect of swell- img the traffic receipts of all the rail- roads‘of that region, and also of those which lead from that region to the seaboard. It is understood that leading houses in the grain trade have taken an active share in the speculation for the rise; their sources of information enable them to estimate the future business of the Northwest in advance of other branches of trade, and thus far the result has fully rewarded their eagacity. The theory of the leading bull operators is that the public, appalled by the disasters of 1857-8, set altogether too low a value upon railway pro- perty; from one extreme they rushed into another, and refused to touch, at twenty-five cents on the dollar, property which, three years before, was considered cheap at par. They argue that as rail- ways in England are found to pay a fair profit on an average cost of $200,000 a mile, rail- ways in the United States (where trade is more active and travelling more universal then in any part of Great Britain) ought to pay handsomely on their average cost of $40,000 a $45,000 a mile. And they say that if, during the flush times of 1855-6, railroads in the West paid 6 and8 per cent in dividends, the same roads may be expected to pay 10 and 15 per cent during the flush times which are pretty sure to be witnessed in 186] and 1862. We present their views to the public for what they may be worth; the bears at present do not seem to have any opinions. It seems pretty certain that, as matters stand, some of the popular railroad shares are lower than their earnings and the market value of money would seem to warrant. It is hardly worth while to mention any particular stock; but to take, as an example, New York Central, which is generally conceded to be one of the most generally popular stocks on the list, it can hardly be doubted but that it will hereafter pay a handsome income on its present cost. How much it will divide in August is a matter of doubt. Some look for a 3, some a 34, some a4 per cent dividend. But that the road has earned 5 per cent, and that the traffic is steadily on the increase, no competent person who has studied the subject can fairly doubt. If 3 per cent be paid, the balance on hand will be equal to 2 per cent; if the dividend be 4 per cent; 1 per cent, or nearly a quarter of & million, will be reserved for contingencies. It is impossible to deny the progressive productiveness of such @ property without conceding the general decline of the coun- |ALWAY, July Are Prince Albert (38), Prowse, New York: Johns, G. via St 4 Giascow, June 2—Arr Hersilis, Rust, NYork; 80th, Johny Guxoa, June 26—Arr Charlotte A Siimler, Haden, a Sune 2—Are barks . Crowel, and nia Sd for Nort) Hin, Crumader, Mode, Go Ba for WY ork). ‘Sid 2iat, brig Caura, Pescud, Malaga; ahtp Ito, Chase. New York: ydaoet do; une. Hezvorr, Ji -Arr Leonidas. *, Boston. Haened hectare Doone: Meson, iad Hasabokt, Boy oth, Baxonia (as), ‘a0. 3 Kay SNe veamel ‘ nai, May FATT brig OF, Leonard, Ran Pran~ japan), a Arr Croesco, , Galveston; J: 2. Afren a annon, York. A sah . vse Boyd, Cape de Verda via Newport; July 1, ichols, Clenfueges; Mackinaw, Hamm Knowles and Houston,” Share, Pech Yume 90, Adama, Adame. © Me: Amelia, Trundy. We abesht Oral Babe, hey . Mel 5 + and, tn races Chief, Barstow, i Petreas Sturn and Alexander, Bain, ; ihe, York; Gi {ines cme Sy Port of New York, July 15, spinwall, Ju via Havana tb § PM, with 5, DB Alten. Arrived at Havana July 9. 6 AM. Llth inst, 6 AM, starboard broke; proceeded with one wheel, and arrived at Sandy ‘Hook 18th at noon, and at Quarantine at 2}; PM, where she an- ARRIVED. ip Danie) Webster, Wilson, Ai mdse and Steamsb: FG R 22: fe iniat 46. Rate comadersble les, Je Highlands, spoke ship Princeton Bell, = 38 we ret ie. Corra Linn, Luther, from Glaa- ‘2b for : ‘July B-In port ship Reie, Preble. ae earkat Cases SiMe tor Period tee H Peamell Hate fiesette, Metnees Ao Esha 0, . Feeawahon es Loo ie for r for NOrieans ¢o. Cid 2d, Ashby, 4 hrrig Sudith Romes, Reyeuond. Bakinore; @ike beck Merri a “Tats rena Newrort. June 30—Arr Lone Star. London for Witmington jy et tenet te eee 1). Caleutta; July 2, Golden West, enzie (from do)» July ad nly 1-#14 Gampeon, Robinson, Cy Points jerald, . Rene IW, June 22Of the Start Dutch bark, Seburings (roan N¥or ice Hamburg: Aun Weahbura, from July Arr ML Frank, Haskell, for NYork. ce wir Pe Swanton, for brige Jemes A " BT a . este _— = crepes x Ocean Wave, Karner, Washington, NC, Sehr Franklin, Wilson, Lubee, ae Se crn 8 da Scho Julia Aun, Gray, Frankfory, 7 ds from ® s ‘July Ne Savy Key) Ju (0 Am vesnel in port. ‘Texer, June %—Arr Us VALPARaiso, 2In jaa Kitham. ibore na totore: for Melbourne. . Sin | abip r, bath Rego Ty gt for a Thame for L Sais Nearly as much may be said of most of the Western roads. All those which are well located will earn profits this fall. , The prospect is that all—with the exception of a few which do not lie in the natural channels of business—will do well, and that speculation will carry the stocks as far beyond their proper value as they are now below and commercial finance, to be safe, must be slow it. ‘ x. better suffer » caviare fede Pasco ag on the ™~ SS y oP cating bee w ow Prog Khe haa leaked considerably, and part of her cargo is damaged. community at large should be involved in danger by pa dytee eine to pay tangs Git ‘The amount of loss is pot yet known, but it is probably not very - dends, competing lines will be built. Already we hear loud stories about that monstrous scheme, the Great Western broad guage railroad, which some infatuated Englishmen are said to be ready to build. It need hardly be remarked that the railroad sys tem between the seaboard and the West is fully ample for all the business which offers or is likely to offer for many years. The Great Western Rail- road is not needed. Jt cannot reasonably be ex- pected to pay in average series of years. It will, however, injure the existing lines of road, and, without supporting itself, will deprive them of traffic which they need. It is by such enterprises that the railroad system of the North is kept con- stantly in doubt and discredit. CITY COMMERCIAL REPORT. large. (The above disaster was published in yesterday's news columns se ship Enterprise ) Cor the sehr HS Barnes was going out of Harbor 11th inst, she ran fon! of sehr Hiram Powers, be «vessel's main boom and splitting taffrail. crew who were on deck at the named John aud Manuel prodigal discounts. Everything indicates a very heavy importation of foreign goods this fall. In dry goods, especially, it is already clear that the importations will be in excess of the largest ever before known. This implies an active demand for money, and a pretty sharp pressure upon the banks for accommodation. Everything tends to encourage importers to increase their or- ders. The cotton crop promises to be very largely in excess of that of last year, and the wheat crop, which is now, as a general rule, beyond the reach of harm, is, we know, much the largest evergrown in the country. This excess of production will stimulate increased commercial activity, and conse- quently increased appeals to the banks for loans, | The managers of banking institutions will consult their own interest best by yielding slowly to—not by courting—the pressure. They will serve the community and themselves by using their efforte to keep the price of money up to a reasonably high standard, and by exercising a sound discrimination in the selection, of paper. They need be under no alarm as to their own profits; an era is approach- ing dnring which money will be more lucrative than it has ever been, The money market is easier than * was a week since. We quote at present, call loans 5.0 5} per cent, with occasional transactions below these rates where the borrower Is sought by the. Jénder; short first class seceptances, 5 per cent: long paper, highest grade, 54.6 per cent; good double name paper, 6a 7: names leks generally known] a 8a 10,%c. It usually takes from a week to a fortnight for dividend and interest moneys to find their way back into the ordinary channels of trade after being accumulated in bank; in the course of next week a forther relevation in rates is cenerally ex- pected. The money market has been held in ena- pense by the oncertainty which exists with regard 2 y of the United States government ia refe- ene? $0 the loan of 1860, Congress, joe Refore ae A ne HE HE ae a an8 2> SS ack s gs