The New York Herald Newspaper, January 11, 1865, Page 2

FINANCIAL AND COMMERCIAL. ‘Tue pay, Jan. 10—6 P. M. ‘Tho stock market was dull and drooping, and the spe- culative feeling tame at the first board. The closing sales showed the following variations from those of yesterday's second board:—New York Central declined %, Reading 34, Hudson River 8, Lilinois Central %, Cleveland and Pitsburg 3%, Chicago and Northwestern 3, preferred %, Quicksilver %. Erie advanced 34, Prairie du Chien 3%, Michigan Central 34. Bock Island and Michigan Bouthern were steady. Government securities were moderately active and steady at yesterday’s prices. Coupon five-twenties sold at 10034 a 4; now issue, 109 a 36; ten-forties, 10274. ‘At the open board at one o'clock the market was lower. ‘At the second regular board it was further depressed, with the exception of Erie, which advanced %, and Hudson River %. New York Central declined %, Michigun Central ‘4, Michigan Southern 3, Cleveland and Pittsburg %, Chicago aud Northwestern %. Rock Island was steady. Government securities were stronger. Coupon five- twenties, new issue, advanced 44 a %, ten-forties 34. At the open board at balf-past three quotations improved. Eric closed at 84%, Michigan Southern 74, Hudson River 11014, Cleveland and Pittsburg 9544, Rock Island 103%, Chicago and Northwestern 395. The cause of the marked decline in Hudson River to-day ig traceable to the Assembly at Albany, in which notice was given for the introduction of a bill authorizing the consolidation of the Hudson River and Harlem Railroad Companies. Upon the success of this project the present holders of the Harlem stock base their expectations of being enabled to sell it at a profit to themselvea. They happen Ww have the control of both rouds, and if their scheme is carried out it will be a stockjobbing operation of far greater mayailudo than even the last “corner” in Harlem, which ruined many of the weak and weakened gome of the strong. Our State legislators should look well into the motives governing those who are most desirous that this consolidation should take place, The gold market shows symptoms of that decline which we predicied would take place in consequence of tm- porlaut military and political changes likely to transpire during (he next few wecks or months, This decline is compatible with all that we have said with respect to the dangors attending the financial policy of the govern- ment. Temporurily the currency is Hkely to be appre- ciated by the improving prospect of peace and reunion; but so long as the present policy is continued the danger remains, while the evils go on increasing in @ com- pound ratio. If ever the currency now in circula- tion is utlorly discredited it will be by the spasmodic action of pasics rather than the slow process of gradual depreciation, Repudiation with us would be ® great popular and neta legislative sensation, after which speciv payments would be peacefully resumed. It is the danger vf this forced return to specie payments by the peopic which has tobe most sedulously guarded Against by the government, and the only way to prevent tho possibility of such a contingency occurring at any time is by the government adopting measures for securing control of the currency by appreciating ite value, and this cau cnly be done by improving the general condition of the tinances of the country. It must be remembered that for a long time after the termination of the war—say at least three years—the national expenses will be largely in excess of those for the last year-or two preced- ing it; and the currency might be practically discre- dited oven after the restoration of peace, if the government, by ta financial policy, neglected to readjust its monetary alfairs upon a sounder basis than they now occupy. At overy step in the progress of de- preciation the danger of a currency panic is of course increased, aud if it passed beyond a certain limit the people Laemsetves would regard the paper currency as an ineubus of which they would gladly be rid, ‘The goverament and the people would be equaily bene- fited in the aggregate by the resumption of specie pay- ments on the basis of the present depreciation of the cur- rency. It would occasion @ nominal sacrifice tempo. Tarily, but {t would be @ great permanent advantage. The holder of forty-four dollars in gold can now buy a hundred dollars in currency with it, and as much of anything else as @ hundred dollar greenback would buy. What difference, therefore, doca it virtually make whether the tudividual’s wealth is counted as $440 in gold or $1,000 in paper if the purchasing power of the latter is only equivalent to that of the for- mer. Of course the adoption of such a policy of contrac- tion as we have suggested would result in enormous commercial failures and a very close money market for some tine; but by introducing the change by slow gra- dations, and simuliaueously extending the credit of the government through the banks in our chief cities so as to relieve the currency pressure, the effects of the revul- SLi eee stent ett ————— NEW YORK HEKALD, WEDNESDAY, JANUARY ll, 1865. clared a dividend of «ix per cent, and the Hartford City Fire Insurance Company five per cont, The following comparative statement shows the average condition of the leading items of the Phila- delphia banks for the past and previous week:— Last week. This week. $48,059,403 49,250, 803, 581 1,784,108 14,254,175 297,223 De 89,845,953 41;001;803 Circulation, 2,793,418 2,978,035 ‘The condition of the banks of Maine on the Ist of January, 1865, compares as follows with their situation at the commencement of 1864:— eit 7,012,003 6,120,162 900,500 12,430, 59 15,167,229 . "198,222 Bills of other cheoks..« 1,687,979 1,281,418 Pank balances I @ato!sea 81015'061 Specie...... 0554 522,146 Tinmediate resources....+« 6,096,584 4,819,620 pene of banks.. $781 = 1.20 werdue BF. «00 .! Estimated lose ou 63in6 111,556 95,148 ‘The savings banks of Maine have on deposit $8,672,975, aguinst $2,641,476 on the Ist of January, 1864. ‘Tho last staternent of the banks of Providence, R. 1, compares as follows with the previous returns:— Deo. 31. 24,764,100 6,412,000 5,400 ‘340,400 4,454,000 4,452,800 ‘The total value of the foreign exports from the port of Baltimore during last wook was $262,715. ‘The deposits in the various savings banks of Maseachu- setts increased during the year 1864 $5,673,000, and the number of depositors were 19,307 more ut the close than at the commencement of the year, The total amount of the deposits is now $62,557,000, ‘The annual report of the Reading Railroad Company, which has just been presented to the stockholiers, is regarded as quite satis‘actory. The trafic over the road has been increased more than fifty per cent during the last year, and has more than doubled within two years. The report contains the following comparative ligures:—- 1363. 1864. Receipts. «$6,262,902 9,200,541 Expense: 23016, 159 4,961,191 Net profita.. $3,336,743 —The dividend of the Reading road of 15 per cent, de- clared November 80, 1864, on common and preferred stuck, of $17,454,192, amounted to $2,618,129; less stock created in lieu of bonds cancelled, $104,000, leaving as the increase of stock on account of dividend, $2,614,129. The bonded debt of the company on the 30th of November was $6,675,300, of which $624,500 were convertible bonds of 1886, In reference to the claim to convert ihe 1844 bonds, the managers state that the opinion of the highest judicial tribunal of the State is that the privilege of conversion has expired. The New Jersey Legislature met to-day at Trenton, During the session applications will be made for the following named charters :-— Newark and New York Railroad Company, with an- thority to construct a railroad from Newark to Commu- nipaw Bay; fora horse rai |, with dummy engines, from Newark to the Hudson river; for a horse railroad from Newark to South Orange; to authorize the Paterson and Newark Railroad Company to build a bridge over the Paseaic river between Belleville and Newark—to constract the road along the Passaic below high water mark, and to connect with a railroad in Hudson county; to author- ee Newark Plank Road Company to build a horse lroad along their wagon road; to authorize the Morris and Essex Railroad Company to construet branches and lateral roads, and to bridge the Delaware river; to increase the capital stock of the New Jersey Railroad Company ; to oharter a railroad to run through Essex, Union, Somer- set and Warren counties; to builda railroad from Pea- pack, through Morris and Union counties. to Essex; to charter a horse railroad from Newark to Lyons’ Farms; to anthorize the Weequuhick Lake Association lo build horse railroad from the lake to Newark; to incorporate the Washington and Mulberry streets (Newark) horse railroad; to authorize @ railroad from Newark to Jersey City, wlth $100,000 espital; to authorize a horse ruil road from Newark to Montclair; and to compel the New York and Erie Railroad Company to light the Bergen tunnel, and prohibiting the running of trains through it above a certain moderate rate of speed. Stock Exchange. Turspay. Jan. 10-—-10:30 A. M. $10000 TS6’s,"81,cb30 111% 410 shs Hud Riv RR 107 2000 do. +» M1 x 1g 3000 16000 US 674,5-20,cou 100%, 100 dt 13000 do. +. 1006 300 do. 79000 do. .now iss 10044 200 © do do..new iss 109 100 = do 145000 500 US6's,10-40,c.8 10434 200 do 102% 700 Reading Rik. 1700 do 3000 Missouri 6° 2000 Ill war Joan... 5000 Bkinée,wi,exin 107 400 do. “ 40 Sixth Ave RR... 800 Mich Cen RR.... blo sion would be far less damaging to the com- } 10000 O & Misse.b30 33 = 200 do merelal interests of the community than may | 3000 MloSous Cbde 108 300 tr ie G80 ae bo supposed, Resuming specle payments on tho | 2000 Del, LAW 2dm 112 60 do. ; basie of suy forty-four cents to the dollar would be afar | 3000 Clev&Tols {bd 106 200 do. easior and more equitable courso than the endeavor, | "2000 heigl cA a which would prove vain, to do so at par. 23 shs Shoe&IeaBk 110 100 question which should engage the attention of Congress | 40 Mechanics’ Bank 115 100 whetier, to check the progress of depreciation in the | 102 Manhattan GasCo 15, 200 Cleve future and secure a return of trade to {ts normal, healthy | 400 Nic Transit 5 400 chauneis, this plan should not be adopted with as little delay ae posi In this way the government credit would be so fi The scheme would, of course, be equally app! to its bonds and ail outstanding ob ligations, both public and private. There is gold enough in the country for carrying this project into eifect; and the present time, when the war to be rapidly nearing {ts close, is particularly for anticipating that return to specie pay which sooner or later will become # matter of ins necessity; and the greater the appreciation of the rrency, owing to the promising aspect of tho military and political aiiuations, the easier will be the courve i But ii we fail to take m ments the gold aicated wards the return to specie ures tendi 400 Camb CoalCo prof 4536 40 Del & Hud Canal 209 30 3% $00 Copake Iron Mine 100 AshburtonCoal Co 16 .b10 117% 300 Th 200 200 Chick 00 do. lO NYCRR 100 do, 100 do, 700 0 500 100 200 " 0 Erie RR p 58 Go... 66 Buff & 8 1 ogee SECOND BOARD. however much or little it may docline in the immediate Harr-rasr Two oN u future, will, if the old p s persevered in, be likely | #20000 US6's,6-20c,n1 10934 1000 shs Fri #4 eventually to rise with ty which will pr 1000 do....n tet 100% 500 Besse may oventually to rise with a rapidity which will prove @ La | 19999 [S6's,10-40,cou 102% 250 Hudson Riv RE, 107% Honal disaster. 10000 Tn,7:1-10,Ak0 119° 00 do «+. 108 The gold quotations during the day were as follows. In | 1000 U 86's, lyrcor 9734 100 Chic, Bur & QRR 119 3000 Missouri 6's... 67 100 Toledo & Wa RR, 61 the afternoon the market was somewlat excited, but it < 200 shs Canton Co... 3446 100 do 30 100 Mariposa Mg 100 do. 11:30 A 100 do. 12:90 v. 3 200 Mich So 1:30 23 Mich #0 gy M increasing in abundance at seven per cent on call. A large amount {s employed in carrying government stocks in anticipation of a rise consequent on the withdrawal of the ten-forty loan, The speculative lots hanging over the market are heavy, but they are chiefly held by strong hands. The expected rise will probably not culminate Uli after the end of the month, by which time it is ox- pected that the outside public will be eager buyers, The prevailing apprehensions of stringency in conse. quence of the payments on account of the last twenty five millions of this loan are exaggerated, ae a moment's reflection will show, ia view of the facts that about three-fourths of the amount will be paid in five per cent notes, which have been out of active circulation for some time, and that payment ts made in throe instal ments, ‘The first occurred on the 7th, and the second and third will take place onthe 14th and 21st instant Meanwhile there will bo a return flow of money from the West, and the ‘Treasury will bo ac. tively at work issuing cotapound six per cent notes to replace the Give per cont notes withdrawn, These wil! couduce temporarily to ease the money mar ket, and only to be withdrawn from active circulation, however, with the accumulation of interest upon thera, Nothing in tho way of currency could be wore mistaken or costly. : First claes commercial paper rates at 8 0 Tho forelyn oxchange market is qv st bankers! Pills aro hold firmly; 10056 a 9% is qu terling at sixty days and 110)4' 5 at three. Mer Lunts’ ville ranye from 103 to 2 per cont aly The gold rate fot 10 per cent france is 6.183¢ 06.14 at sixty days, and Gila G.10ub] y 4,128, Bigt ‘The subscriptions to the seven-thirty Joan through the First National bank to-day amourted to $205,000, The businews at tue Sub-Troasury to-day was us fol lows: — Receipts for cvnioma ‘ $89,200 , ment eaien Tho Standard Fire insurance Company of bas declored # remi-ane Payable ov demand, and an extra divs One half por cout, payable government tax. The F will pay, Lith Instant, « Of tax, The Moreh or i their sixteenth Tue Mariford Merchouty Lt this city of “nd of two lie , boul free cilie Fire Inoue = : : TT AoONvojfF O.._ OOOO =«<®@oe Oe 0 IS 5 3s 5 2 pa = = = {P | | | 10 Michigan Cen RR 20000 American gold * 500 ClevedePitisRR&tO 030 500 500 Chie &N I esse seses 3 do 100 Uhie & Rk Te RR 10394 CITY COMMERCIAL REPORT. ‘Turspary, Jan. 10-6 P. M. Asuras. —Receipts, 26 bbls, The market wae dull and prices were wholly nominal. Breaparorrs. —Receipts, 4,150 bbls. four, 221 bbls. and 2,493 bags corn meal, 7,467 bushels corn, 37,611 do. oats, 17,400 do, malt and 40 do. barley. The market for State and Western four was less active to-day, and pricemde- clined folly 6e., in eympathy with gold, The sales were 6,000 bbls. State and Western, 650 do. Southern, and 350 do, Canadian. In rye flour nothing of moment was done, but firm, at previous prices, Of corm meal 200 bbls. calo- rie rold at $575. We quote:— Superfine State and Western Sour xtra State. . ° Choice State... Coramon to medium extra Western. Extra round hoop Ohio. Wostern trade brands Extra St. Louis Common Southern Fancy and extra do, Common Canadiat Good to el and exten, Kye flour, supert Corn meal, bbls. Corn meal, p —The wheat market wa price s withont quotable chang els at $2.0 for No, 4 Chicago spring 1 tern. Rye was dull 0 Hail oo 12 10414 75 10 154010 9 ) and prices In the main nom firro, owing to the «mall sup. snlew of 9,000 burhels Cale were gearcely 60 Festorn, * he corn 1 very littie dl Wester: ir i lene a Conrnn,— The vues modorate, but prices wero without d eh (he exttemo prices abtulnaie A rale of 200,900 >, whiok price waa At 490, te consumpttea de- 4 ou € boughs lve market was seare f gold. Sales of 250 bays Maracal- 100 do, Rio at 19K6., gold, Wo por cent for gold, Rio prime, 470 a diigc.; nit Uo, He, a d4i0. 5 ; Java, mats ahd bags, 0c. & Maracaibo nnd Lagunyra, 4-0 4A¢,, and Bt. Dow j Maracaibo, 6,46 Vo. aud ofbee dex e% nd the inelement Ld Uirieoe (Oa youn uelOlle Givi Mia g boQud iruus New Kurk Wo Basivor, puting were (o-day. Woaluer beet were fully 1¢. per pound lower, foilowii Snel ‘bales, at the Tata Pe with sates of only rl Mobile, N.O.4T Ordinary. 104 106 107 DMiddling. 15 116 116 it Good mlddlieg. 19 120 120 122 Davce xp a domand has pre- vailed since our last, ‘there was leas business noticea- bie. Sales of 10 tierces caustio soda at 1130. a l2c., & do. sal soda at 4)40. a 43¢¢., 20 do. soda ash at 6%¢., and 2,000 ounces American quinine on private terms, but ap- St. Georges. but fi in view of the smail sup- 80 for No. 1 bay, for Nos. 1 and & 14 50 for No. 2 Box her- ri quiet but firm, at previous quotations. ‘nuit.—Raisins were firmer, and ward, owing to the small stock and Sales of 2,000 bbls. currants at 2034 almonds and 1; public, FasicaTs Prices tended up- the light arrivals. boxes new yet wh 48 58 8 #0: 100 ic. & 203¢0., 10 bales guedoc 50 bags filberts on terms not to be made continue quiet, Engagements to Liverpool Include, per neutral, 25 tons provisions at 10s. ; 500 bbls, petroleum on private tel aud, per Better and chvese et 80x, and 150" b To Antwerp, neutral, 30h 228, peut pkgs. boxes bacon at 20, 100 tons welght at 228. 6d. To London, per nds, Cuba at 278, 6d.; 1,400 boxes cheese, 6d., and 400 tes, beef and 100 bbis, pork on private terms. A Russian brig, 2,400 bbls, capacity, to Ravana, $1,300 gold, du NY Baas were active, with gales reported of 150 bales at 39¢. Guyxy CLoTe was firmer and in bet! of 300 bales. at 22c., now held higher. ter request, Sales Hay.—The demand was principally for retail lots, which are firm at $1 80 a $1 90. ‘Hora were in good request for consumption. The in- quiry was chiefly for prime grades, w: supply and with light receipts. The very firm, and avadvence has been sale to-day were 280 bales, at from 300. at hich are in small market continues established, The tod8e., and fancy 0c. ‘Hipsa.—Since our last report the demand has con- tinued moderate, and prices have ruled steady until to- day, when, under the fall in gold, scarcely so firm, elect sales, would’ have to from our on private terins, slaughter, 1234! bi lc, We’ quote ut 8,000 California xt M4¢., and 2,000 ci B0c. a Bic. ; Tam Maracaibo,’ 906. u 36 29c. a 30 pickled, 260. a 26c., his and — holders, the market was in ordor to some concession quotations, Sales were 3,300 Orinoco 24e., 500 Western ty slaughter (ox) mt Wry hides per pound, cash—Buenos Buenos Ayres aud Montevideo, 3340, & BA }ge.; Orinoco, 3% usual selection; moros, 816, a 82¢.; Vera Cruz, 300, a B1e,; Bogota, 3lc, » 32e.} ia, 290. &200.; Porto Cabello, Rio Hache, dry and 85.360. Central Ame- INDIGO was Very quiet, there boing no demand beyond the Prict nes, however, we! Le prime stock, wi continue very & stock accumint Ayres, heavy, 4 at ion ng. We quote:— mid no Orinoco, &e., heavy, 88e. a 8Y3¢0.", do. B96, ; do., light, 876. # 38. ; do., good and weighte, 1 WBT HC. 5 in the rough, 10., do. cropped, mide do., in the rou Leap was dud and pomiual at 160. w Lic. for all de- scriptions, SloLAsns.—The inelemency of the with the downward tendency of gold, somewhat to-day, and we have only to report bhds. Porto Rico at from $106" $1 | outside price, aut 2 Navar Sie a $2 20. Rosins were firm, with sales f 825 for strained, $25 « $50 for No. 2 No.1, Tar quiet aad vachanged, Oite, market r gales at $1 68, Manufactured was ii bbls, lard ol kinds quiet, but without dec Pxovisions.~-Beceipiss, beef, 582 do. cut meats and 82 for pork was less active and the spot were 8,000 bbls. at . & 480. ; do., middle, 40},. 0 4 2. California, hoavy, 4 . wale; do., light, 880. a B9e ; oak slaughter, heay d0., Nght, $80, immediate Wants of jobbe and manufacturers. ithout decided change, atnwus—Heinlock—There has been a fair inquiry for ich continues very scarce, and prices Oak has beed leas active and the Remlock, Buenos ; de » middie, Bice. & dumaged, all kinds poordo,, 26 50. & 2730. ; do a Se. ; do. light, 60. a Tc. ; c., do., befties, 2de. per Ik weather, together restricted business les of 76 10, ch o, Cuba mnscovado at 80c. ws,-—-Spirits turpedtine wiss holders demanding $2 10» $2 15 for Fr , bot fie, ich and $2 15 of 60 bbls. , and $90 4 $40 Lor crude sperm nothing hae transpired, but the vaing firm at previous quotations Was finn, holders genersily demanding $) 60, with 31 m, wiih sales of b $2 18, and 20dbla, do.'at $2 17. ied change in value. 827 bbla pork, 165 pas do, lard. Th were lowe $a 876 3 Linse) @ $45 25 for pew mess, $41 75 a $44 12 se for 1863-4 raess, Cush and regular way, vlsing at $42 cash; $34 50 a and ‘$40 a $40 50 for prime mes; ery, 2,500 bbie. prime mess tor Jt at $43 50; 1,000 do. for January and 50 for prime, also for Coture deliv- fanuary, buyer's option, February, ecilor’s biter at $41 26.0 $42 25. The demand tor beef con- tin nued noderate, but the market was ‘drm, with euler of 600 bbls, at $20%4 $21 for plain mess, and $21 50 a bans $24 for extra do. Beet a $27, betier request at 400 bbis. Cut meata were lees active, at previous pr were ib rather with sales of sales 10 pus, at 17446. @ 18sec. for choulders, and 1+ ale, tor ham. In bacon sides there was @ (hip business done, the wales reaching fully 600 boxws, at 22,0. for short ribbed, and Cumberland cut 21 very firm at 16%¢ aliige. The lar yc. Dressed hogs inarket was withe out decided change in value, but quiet; sales of 2,000 er's option, at WAicc, rime. —Receivts, 1,212 bbe quiet, but prices without decided oh orude sold at 0%,¢,, but there were bi t Sle. 1B the spot, at D055. a Sle., and 500 month, at §13¢., and 1,000’ do., for February at 0 ined, in Bond, at 7A. & T40., and 700 do, Bensine was m agcertai Sav. ed. Sales by On private Ler Turk's Laland at about 700. , $4 50, and a cargo of Ragged Soland at Svvak,—The slight decline in gold to market, and very Tittle Holders, however, were firre in their v ed previou nly sales were 10’ bhdw ¢ ba museoy at20c. at 24!cc., and 406 half bbis, Bulter wae stealy an price, with a and, at 360, a 4c. for Weeteru, and 460. » Cheese weg vachanged, at l6c. a dec. for mer at 3 tice « sale of 180 bags Rangoon on terms price, in view of the small’ supply. for February, vell- The market was ange. One lot of iver for all that ‘The wales were 700 bbir crude, do, for all the ‘The inguiry continues moderate, but full prices si ‘¢ heen mado of 2,000 sacks Liver us; 6,260 burhals 200 yacks Ashton s at aboot ‘70, day depressed the Dustness was consummated and demand The sows ado at 20,6 ned was quiet, but Arin, at 244 e. for herds. Srove —In clover very litle busine: ted. and prices ac. 8 265 Timothy quiet at § a #6. Rough fa: a suman ore generally demunding Lic. ian. no change i prices; sales ported) 10.060 b. De ve, aud full 000 tbs. Truxilio at §1 Ainerioan at 97 )sc. 000 Ibe. = 20c. We quote Th the recent advance—$3 90 a $4) rewaa very little doing in any descrip Matamoros at 924, 4 Lave been rea has been transac. being demanderl x continues in tair bushe! for domestic, aud i—The demand hae been moderate, bur (not % de Viously re. 4c., 8 bates and has bern Ned tial a 4,000 ibs. ¢ Juan at 87), Gont—Tampicn, 92,0. 0 97 he 5 oroe, OB. a UTIKe.; Vert Cruz, 87 Ayre f 756 ; Payta, 70 per ib, enh. Deer—He $1 a $1 05; Central American, 95c. 81, , Wc. a 960, ; Seal, 87ice. a Oe. ; Angostui Para, 900. 4 92)40. per tb., cash. The demand has been deser!p ne were @ trif ided change. Sa nw T tinne im good demand. at 10¢ Totow was less active and searc 120,000 Ibe, at 170. 4 17 Tix.—There has been denidediy mi market for pig, aud previous fyices tained; sales of ‘Tuli 1,160 slabs Stfatis, English may be hore has been a fair business dotag, ate, and pricee while DO mats ci ta cinnamen at 96e., 100 hags Afr Limes at $1 5255 8 4 00c.; also two bugs popper at Sales 1,078 bhda so firm Sales of ore activity in the uave beea main here and in Bow quoted at 683<¢, ed at $17 @ $17 25 ales re ing some 800 boxes assert for I. C. coke, $20 60 for L. C, charcoal, aud §15 for coke terue. Wrrexry. —Receipta, 280 bbls. ‘There waa rather more doing and the market was Drucr, with seles ef 1,200 bbis. at $2 24 w $2 26 for Western. INDIAN TROUBLES. Joieevvnd, Colorado, Jan. 9, 1866. On Saturday morning a party of sixty Indiaus attacked tho overland mail express’ coach, th here, and robbed the mall express, ree miles east of They also attacked a mule train cloce by, killing one man and wounding another.§ ‘Tho troops at the military post here, numbering from fifty to eighty men, immediately started to the relief of the white ecttlers in the vicinity, and drove the Indians to the bluffs, 9 mile back, where the indians were rein- forced to the namber of fifteen hund: drove the troops back to the post. rod, and in tui ‘The Indians then entered the stage station fn large numbers, and, after destroying al! the furnitare and breaking all the windows in the builds fire. jugs, set them on They also destroyed a large amount of telegraph mate- rial, A well directed fire of musket: post, however, soon drove them from t from the troope at the he station. In the ronning fight on the retreat of our troops thirty- five Indiana wore killed, taciuding the principal chlof. Nineteon of our soldiers ond ciiizens were killed. A goveral masgacre aud destruction of the whites was only prevented by the perseverance aud bravery of our troops and an efficient artillery fire, ‘The Indiana retired in @ southerly direction, Thie was the most determiued iacursion made by the Tadians Wid Beawon, ne The Reven: ‘The Tnited States revenue et am Service. or Kowaneo galled from this port on Monday afternoon for Savannah, touche ing on the way at Fortress Monroe, 7 fat of ber officors:—» OMcer *: Captain-—W. 0. Pease. First Lieutonont and B Becund Lieutenant - Jove Third Lieutenont of, nj Secoud Assistant, F Pikct—Wrn., B, Fisher. . Kave. Towne’ Hore, The United States steamer Achu: ue following a & —D. B. Hodgston. Firat Assistant, Jas. Tan, 10 1886 Captain Graham CLOSE OF THE INVESTIGATION. Mr. Field Ends lis Argument fer the + Prosecution, The Character and Deeds of Fremont. . A GLANCE AT THE MARIPOSA CLAIM, Stirring Appeal of Mr. Field to %y. the Jury. ; THE CHARGE OF JUDGE MASON. Bis Clear Definition of the Law in the Case. THE JURY RETIRES TO CONSULT. The Verdict to be Rendered This Morning, &e. —_—_—~ On the opening of the court yesterday morning Mr. D. 1D. Field resumed the cloquent argument which he began on Monday, but which was suspended in consequence of tbe arrival of the hour of adjournment. We subjoiu the continuation of the address :— ‘TUB ALLEOED EXTOWTION PROM GRNRRAL FREMON?, The libel in relation to Genoral Fremont 4s a tissue of ‘The polut of it is that Mr. Opdyke worked wa! Fremont’s political ambition to deprive him of his property. A more wanton, wicked and cruel Libel was never published. It is at once bage, and base- jess, The whole transaction between Mr. Opdyke and Genoral Fremont was simply a matter of buriness result- ing from a negotiation begun by General Fremont, in which he made an offer that was accepted and performed. No political consideration entered into it, or was even gested or surmised, General remot, finding his wstule crmbarrassed id nnavailable, offered one quarter to capitalists to extricate It and him. The debts had d Indefending the title against the govern developing the evtate. He had never before &ee &e meut 9 beon able vo get any one to agree to take it for Jess than haif. He now offered a quarter to Mr. Stevens, who ollered it to Mr, Keichum, who bronght in Mr. Opdyke. This is at with the twatier, d. He performed asking of General Fremont iet iwenty-five thousand shares rewain in Me. Keichuin’s name, iu trust for him, was only oper and usnal pre- caution to keep the wtock owl of the market for a \imited the, and prevent the control ot the company from pxssing into other bands, Tio counsel hae seen {ic 10 ailude w the present embar yassments of the company, There wat nothing’ about them in Ihe evidence, and titis is not the pisce to explain them. I he intended thereby an itnpatation upon the ood faith ef the capitalists who formed it an abundant answer is found in the despateh whic appears in the evidence, which was tranamiited by the principal bankers of San Francisco eight days before the formation of the company, containing the substance of the report just ‘by the mosi eminent mining geologiste of Califor. nis, by which ik was estimated Uukt » gras monthly pro- dact of the estate wigbs be counted upou of two hundred thonvand dollars im gold at @ cost of forty #3 wid, which would yive o yearly revenue of $1,926,000 fe golt, capable of extinguishing the debt in less than @ yeor, and theo giving a yearly dividend of over forty per cent m our currency. ‘The defendant attempts vo fasten upon Mr. Opdyke the charge of making a bard bargain with General Fremeut when there twenty-five thousand stares were joored from the trust and about to be thrown on the market. The plaintiff’ wae not the trustee and had nothing to ray about the discharge of the (rust. Be joined Mr. Hoy in the purchase of five thousend shares, There is no cyi- dence thatthe same number of sharer could have been sold for a larger price thew Mr. Hoy gave, or that Mr. Opdyke made anything from the purchase; but whether it wae 20 oF not, the purchase was mude between parties competent to contvact, wither complains of it. The intrusion of Weed into the company ix of a piece with his chuswoter; he was invited by neither of the parties, and is equelly offensive to both of em. Tt has pleased Uh fondant and bie counsel te drag my name into th y. There was for this neither neeeesity nor €: was not respouslble vesponsible for ai 1 who wanted, or ance, offered me mupensation, amounting in tate which was to be exdi- thought he wanted toy a for certain Bex a verte eanbor with which it was rand from whieh it might or might not Biatgied, The offer wan ac d, the ver fon Lie compensation paid, and both re u, are NOW ave ever i Why Mr. Weed, or Mr. need concern themselves Ido not kuow. “sown bustness is in geveral tety considercd cnongls forene’s own attention. My a te his thoughts up uch ay ¢ him n adhe woul! live 4 hundred Hot accept suen 1 hie elient wo not Ww it, a# ib relucte at ot upon auy wud ig, expres’ or implied, friend.ehall ew: Now I propom promise sith him, If he will make vat went to Washington to procure the apy ‘ piece ia this « yal ive the 1 promise + down with me aud bas ‘ be huve been das law § this trial Kiyart! gave it a4 his opinion, as J understood bir, when a lawyer comer into court he eipka the gentle n the lacyer—an opiuion, by the way, which me when K was capreseed—yet I take loave, to Temind. him ‘and’ bis associate that neither a» lawyer nor ms gentiewan hae either of them any concern with my private aifirs, Now, gentlemen of the jury, before I lay it aside let me read this part of ‘the libel again— “More than ¢ year ago Mayor Opdyke and others remind- ed General Fremont that When 4 candidate for Presivent iu 1856 be was weakeued by pecuniary embarraxemente.* This i false, Mr. Opdyke never reminded General Fre- mout of any such thing. Again: “That as bis friends in tended to run his agala it would be weil to put his affairs into better shape.” This is false. Nothing of the kind was evor eaid, Again: “Those frieqds formed themacives into # Mariposa Mining Company, &e. jut new diftcul tics arose, whieh, Lowever, were adjusted by the pay- ment by General Fremont of 000 in Mariposa stock,” &c. This also is false. No new difficulties were thus adjusted; no new difficulties had arisen. The drat aot of General Fremont had been, o# his first offer was, to convey one-fourth of the estate to Mr, Ketchum, and tho company was forimed long afterwards. The libel is talee in its whole scope and meaning. It charges ex- tortion from General Fremont by fist working upon his ambition and then leading bim into difficnities, all of which you have seen is a* false ow false can be, ‘This ts ‘not the place or te cocasion for an eulogy upon General Fromont, The gentiemen may think {t befiw their case to represent him as a woak and timid man, the easy prey of designing capitalists, and afraid to utter his opimion® in this hell, It is well ove of the counsel said be bad nover seen him before; for if he had he would not bave been wholly ignorant of his character, General Fremont evidently thinks that bluster is not a proof of strength, ‘i that the quiet demeanor of a gentleman ts com- patible with the loftiest cow jor, Tn his checkered life he haw parsed th: ugh many jesituder, Rightly suroemed the “Pathinder,” he was the first to explore the passes of the mountains to the furthest West, Returning from Europe to fight the battles of hig coun- try, he was the Orst general to beat Stonewall Jackson in fair battle at the Kast. Fe custained the contest for bis Mariposa estate with the same cournge and tenacity with which he encountered tho enemies of his country. He Toaintained hie title and his possession against hostile claimeats and lawless intruders, and after Lf years of ansiety and labor has reaped from ft an amp! fortune, His name will live in the history of his country so long aa tho country endures No man will over cross the Gare to our Pacific empiro—wHether he passes with the long caravan of omigrants seeking a home inthe West or by that future rafiway which is certain yet to thre the gorges of the mountains—no man will over look down from the Sierra Nevada apon the golden laud of California without thinking of Fremont, ARMY CLOTHING, T pass now to a now subject, that of the army Clothing. The libeis on thie subject are as follows:—"This man has made more » 'y by secret partnership in army cloth, blankets, ing and gun contracts, than auy fifty sharpers, Jew of Gentilo, in the city of New York.’ Aud again, Mr. Opdyke can, if he es enlarge the fleld of inquiry, © a8 to embrace © the ehoddy binakets tuat Were paected ya New York ald suvesuuvab ly worked in at Philadelphia.” ‘The meaning attributed corrugely and i Ta ry oh A Ege got et oy ment in New York.” This is the real ‘of the expressions, the sense in which the defendant used them, the sense in which he meant them to be under- stood. His whole articles are bitter and vindictive, He means everything in an unfavorable sense, in- tends that it shall be s0 understood, For these ‘or aspersions there is not a particle of justification im the evidence. There were never any biankets gold or received at Philadelphia after having been re- Jected in Now York. The whole charge in that respect is a Re, invention. There was never any contract made with the government which was not fairly made and fairly executed. ‘Nothing of the kind commonly known as shoddy was ever received by the government or offered to it, The Spalding cloth was of substantial material; the only objection to tt waa the difficult) coloring some of it; but the spotted were left out in the making BP, the quartermaster and accepted ae inspectors were good both in material and color. it, says the defendant's counsel, with loud voice and emphasis, ‘Here isa pudlic man, Mayor of a city, in contracts for the supply of the army.” Isthat afault? The army must be supplied. Cannot honest men engage in supply- ing it? Must Weed and his friends have a monopoly of the business? If that beso, Heaven help the country! When complaint was made to Luther Eadgaorn airs were played in the churches, re- former replied that the devil must not have all the good music, So we modestly ask, must the devil lone the army? just our brave id elt soldiers be fed and clothed by thieves? No, no, no, The furnishing of supplies to the army and navy on contracts fairly obtained and fairly executed is an honest and pa- triotic act. Parrott, aud Ames, and Ericsson, and Stewart and Sturges are helpers of thelr country as truly az he who leads a battalion, or digs in the trench, or mounts the parapet in a storm of fire and leaden hail. The mayor of « city, however, ouglt not to do it, say the geatlemen. Why not? If it be a good thing and patriotic, why should he tefrain from it? If he has something which the gov- ernment wants ought he to refuse it, or ought he to re- sign bofore he lots the government have it? Must he give up private business when he takes a public office? it not one of the viees of our times that so many of those who hold office have no other businoss, no other means of livelihood? They live on the public. ‘The offices are their patrimony; their trade is politics; their tratile is in public employments. Some of the purest and best of our mayors have thought their public oftice and their private business quite compatible. Mr. Havemeyer did noi abandon his sugar rednery; Mr. Wes- tervelt did not give up his shipyard; Mr. Tietaann did not assign over his paiat factory, Lf a successful merchant be chosen mayor for two years must his firm be dissolved, or must it ‘pursue a different ne of business froin what it would have pursued if he hud not been elected? But I have said enouvh on this subject, and i will say no more lest weury you: Such, gentlemen, are the facts in relation to these charges. The charges themselves are gross ; such 43 no man could rest under without @ stain upon his name. What was the plaintiff todo? Should he inflict personal chastixement? That is the first hopulse of a wronged man, Just as it was the first impulse of my client when the opening counsel of the defendant charged bir with a lie in Harris letter, to cleave him iustantly to the floor, But the law forbade, ‘The judge, whatever he thought of the provocation or the vengeance, would bave been obliged to pnnish it, So, if the plaintiff or his friends had sought the defendant and broken every bone in bis body, they would bave done to the defendant no wroug, but they would have vielated the Jaw and wronged socie- ty. A civilized community cannot maintain itself if it allows private vengeance for private wrongs. Per- sonal revenge was, therefore, not to be thought of. What, then, 1 repeat, was to be done? Would you have’ the plaintifY content himself with a reply in the newspapers? That is palpably insntitcient. There is w Chinese proverb that a lie will travel round the world while truth is putting on its boots. You cannot follow tho libel with a contradiction into all the newepopers in which it is published. Many persons Will read ove and not see the other, Some will believe one and disbelieve the other, A contradiction is, there- fore, insutticient, What then, I repcat again, was the phuntif todo? He was constrained to take the redress which the law gave him, such ag it was, whether it was perfect or luporfect. That was the dictate of the law— our law, your law, the law of the land. He had two courses Open to him: one to prefer an indictment, the other to bring a civil action. iz first design was to do both. ‘there were reasons, however, which made him finally decide in the tirst ‘instance for the latter, One Was, (as in aeriminal prosecution the defendant could not be a witness, aud a clamor might be raised that be wished to shut the defendant’smouth. There are otherrea- sons, which aby one acquainted with our political history and who has scon what has been going on in this court room will readily understand, The civilaction is undoubtedly an imperfect remedy; but it is the best the law offords, The uly reparation which it offers to the plaintif, the only punigbmeut ft thi ns to the defendant, isin pecu- ney Tf, after passing upon the truth or fulcchood of the charges, the jury could themselves fx the measure of reperation, conld require the defendant to publish a recantation, or fasten upon him & etigua that chould oot be misunderstood, it would be more con- gonant with the ideas of modern society. But that hag not been done. The lawgiver he left no other means of reparation than the amount of damages. plaintif’ seeke your verdict, and a large verdict, because that alone will mark your sence of the injustice which he has soffered. A smal! verdict wil signify that the plaintiff bas been wronged, but thot it is of little consequence wheter he has been wronged or not. It is for that reason, and vbat alone, that be reeks a verdict which the defendant shall feel, The defendant's coun- rarice sel telly you that prompta this demand. It is not avarice; but a proper self- respect. They thonght it very funny that he whould give it to @ public charity, The fun was probably in the idea that any of Weed’s money shoul go to a public charity, We tell you that not a dollar of the recovery shail be used for any private pur- pose. Seeing, therefore, that you can only express your Sense of the wrong done to the plaintiff by the amount of the verdict, the question arises what are the reasons or y lee by which that should be determined. It is not'the pecuplary Joes which the W saaleg may have sus- teined by which you are to Judge. That may not be known fo the plaintiff hiteelf; it may be incapable of proof. It is compensation for the disquietude which the platnti?’ bas undergone, bis menial suilering, the lessen- g of hima in the public esteem, and the injurious etiect thay have npon his secial and ‘polities! relations. The defeuce which bas been set up is, as ali the authorities ageravation of the origiual libel. ‘The record of Py m ie the clearest evidence of hut if that little sfiont piece of paper contains jdence, how much more does the orsi slander of Hoth the counsel have induiged in their duty or their privilege; but of the junior ¢ nael Waa 8o Brose abuse, tinsulted, for the sake of » for the sake of the court h the wake of the community which it of ought to de visited by your displeasure. The of the law is ope of the nobiest than can em- the faculties #f ‘ence to the weak, or for the Ig the doubtful, & % ngetnst power. of the laws, a Jusites, is an Ofice avd a function for having ny man’ unay Foc himsclf exal ‘The pro Vv wing in ite histories and its tri tren of all ages have illtstrated prs, philowopbers, aiateemen, have reaped it honors. The judiciary of ountry is recruited from itetanks, The Chief the United States in second only W the Presi- the Lord Chancellor of England takes precedent of all the nobles, Such is our profession. But if it is to be perverted, ay it har been perverted here, it must love ite charactor and its intivence, If there be many whom fs fee can lnduce to rive in acourt of jastice, and, under cover of the privilege, vilify « party, as my cHent hae been outenle of the evidence and the isene, then I can only say that the name of lawyer will soon be a byword aud a hiesing, and will come to be accounted hostis hue ni gene an enemy to the human race—tit only to be hooted from the world. Who is George Opdyke? A New York werchant, punctual to all his engagements, honor: able in ali bis dealings, sensitive to that which is the life of this moryntije commtuity—mercantile honor—whom ho Tuan reproached, or dazed to Oe op he wae vet upon by thieves. Ask thore who bave dealt with him. Avk those who have lived with bim, In private live ‘Without « stain; in every relation exemplary, whether as son, husband, father, triend, citizen; tp public life de- voted to its doties, From the tine when he took the office of mayor he gave it all his days and nights, saving only three hours a week to his private business. He detied, resisted, and to @ great extent defeated, durin, hie mayoraity, the robbers about the City Halt That is the secret of their hostility to him, Mr. Purdy tolls you that be saved mililons to the City Treasury. He resisted the measure, passed by the Com- mon Council, for giving, = era hree millions dent; for draft ¢' ) an it; resisted the Court House, and the Fort Ly long as resistance was poreidle. Isauch a man to hented down? Who is Thurlow Weed? I should not have drag- boda character into this trial if bis counsel bad not jone it. Being here, he must be treated as he deserve. 1 acquiesce if Ido not diwent, Lam hound therefore to say that be is, in my opinion, and in that, I believe, of moat of his countrymen, 9 leader of that band of profi. te men who enrround and disgrace Congress, the Legis- ware and the Com: yncll, gecking grants of fran- chisee, lana, offices and joha; corrupting, bribing, soliett- ing, misleading—living upon the conntry—public pli dorere. Shall ruch a man go unpunish What is a libeller? He iv a man who publishes of anether a mal\- cious falsehood, tending to injure and degrade bim, To talk of euch a man ar entitied to any immunity by reason of the liberty of the prese is to di © your under. standing. The liberty of the press— iberty for which ‘wise and good men struggled for agos—-which wo have so securely obtained as to have enh it in our constite- tion, io the liberty to tell the truth. The liberty to tie ‘was never given, and never intended to be given, and never can be given till soriety is resolved into its ele. ments. ‘Thou shalt not bear falao witness” is ove of the commandments; “Thou shalt pot steai”’ is another, One may just as truly strive for the liberty to steal aa the liberty to lie, If character is worth anything we must protect it. It is of priceless value, Next to the approval ‘of God and your conseence, the: eat incentive to good actions is the approval of your fellow men. Instead of holding one up to censure for having vindicated bis character through the !aw, applaud him for his confidence in hitaself, his confidence ta you, hie confidence in the Jaws, And let your verdict be the answer to ail the calumnies and fil the cophistrios which during these fuur weeks have becn uttered in this hall, JUDOR MASON'S CHARGE, GestTieMRN oF THE Junr—f ene yon, gentle. men, that this very protracted, to you, f doubt not, fatiguing, trial is now brought so near to itsclove, And before proceeding any further in the allow me to tender to you my sincere thanks for the very remarkabiy pusetual attention wbich you have given to the etings of hh: od te th ag Dut ot tet Thore aro, wer ‘ ent of IN ethin aw year 1846, the provision was carried into the constitution, with but slight alteration. Instead of saying, as in the constitution, ‘in prosecutions for libel,’ it says “in indiot- ments for libel” the defendant may give truth in juslié- cation; and if the jury should be satisfied that the me tives give show of justifiable ends the defendaut shal stand quitted. ‘And they did add in vision of the constitution that {n indictments for libel the should be the judges both of the law and the fact, Now, gentlemen, I desire to state to you in the plainest, sim- plest and most familiar manner what is the real meaning of this civil action for damages. As the law now stands in this State, the defendant, when arraigned for libel, may give the truth in just ‘ion; and if he establiahes the truth of the libel before the court and jury he stands wholly acquitted of publication, without stopping %o inquire into tho motives by which he is actuated. A different rule obtains where the prosecution is by in- dicument. A libel in a civil action and an indictment for a libellous publication tending to a breach of the peace are two dilferent things. Tho duty of the defendant te to establish the truth so as to satisfy the jury that be published the truth as justifiable ends. There may be cases, and there are in the books, where a man way prove the literal truth of @ libel, and yot should be punished just as severely as though he had published « falsehood ‘There may be acaso in which the aggrave- tion may be even greater. A man may publish in the public press some py sical infirmity of lis neighbor ca Enown tothe worl , Which Would wound the feelings and sting to the quick the sensibilities of the man who is libelled, and yet the {ivel may all be true, As I have said to you, in this civil cause for damages the law allows to be given in evidence the truth of the libel; and if the defendant establishes that truth then he stands fully acquitted. Before proceeding to the case allow mete stale another principle wherein there has been contro versy, and wherein we stand in this State in direct cob lision’ with the courta of Engiaud at this day. If I were presiding in a court in England I should be obliged to say to you that tho law makes you the judges, in this civil action, both of the law and of the fact, 80 far as to determine whether the article is libellous or not. They hold the rule thore thet the judge must charge the jury what constitutes a libet, and leave it tothe jury to say whether this is.a libee They have had some srich experience under this rule is Bugiand: which ghows the folly of the rule itself. A cage came before the Queen’s Bench in which the judge charged the law of libel correctly. The jury retired ana brought in thoir verdic.. Then came a rule to show cause why a new trial should not be granted because the jury had found that to be no libel which was a libel. The cage was argued, and the counsel conceded that te judge bad charged the law of libel correctly ; but the jury, ‘under the rule as administered in Englaod, having the right to say whether or uot, after all, it was a libel, had found that to be uo libel which Wasa libel. The rule was made obsolete and the verdict set aside. Ina year from that time came another case before the Court of kx. chequer, and a rule to show cause why a verdict should moe be set aside; and it was conceded in that case thas the Judge bad charged the law of libel correctly; butithe jury, forsooth, bad found that to be a libel which was im law ho libel—-the very converse of the other case. result of it was that the judge there also granted the rule obsolote, and set aside the verdict. That is where the courts stand in England—adhering still to the ruie thas in every conceivable case the judge must stand up and say that any article published is libellous if it hoids up & person to disgrace, ridicule or contempt; that he must state what eonstitutes a libel, and leave the jury in every conceivable case to say whether this isa libel or mot. The very consequences which have flown from that ia the courts in England within the last ten years show the absurdity of the rule, Itis now my duty to state to i what is our rule in this State. If I understand it, it is q@ gound rule, founded on practical wisdom practical common sense. This brings mo to a I should be very you should be observant in lookiag to recise duties which belong to me, and those which be- to you. It is my right and my duty wherein I mustsay to you this article is li in I must say that to you is she Queeti whether it is libel oF nol je ae the charge publ where there is nothing left for interpretation—as it should say that Mr. ford, in cool bivod, arose in court and drew a pistol aud shot Mr. Weed and murdered him, and should publish that in the rs in the morp- ing, and it should turn out to be false, and I should be. sued for libel, would it not be mere nonsenge for the judge who should try that case, when there is not a interpretation of murder, to tell’the jury what a stating the vi definitions of it, leaving it fer them to determine whet this is libellous or not? Our rule is that in @ plain cage the judgo must say the article is libellous, and it is then the duty of the jury se to regard it, But this rule is uot univ: It only applies to the case where there is no doubt in to the rt awe tion of the matter published. the publication fe susceptibie of two mn, the Judge must leave it to the jury to say which of the two construct. na was intended. In this connection it is my duty to advae you in regard to another rule which you are to with you in interpreting these publications, and that is that where the publication is susceptible of two construe. tions, one of which is innocent aad would not be libs tous, and where another would give to them a crintusd and’ defamatory meaning, which would iinpute libeb, where they are as well susceptible of oue coustruction 2 of the other, then it is your duty to give tho imore lenient construction. Courts and juries are not to pf® gume malice in the publication, uniess it is Reces-anty and clearly to be inferred from the language of the ii as they are to impute innocence to conduct in all c: unless they are obliged by the evidence te jupute guilt ‘There are other cases where the laoguage is couched ia ambiguity. There are cases when the maiter rests os extrinsic evidence, when it has reference something outside, and then it belongs to tue jury alone to decize whether the matter is libellous or not, “To bring it d toa very brief and concise siatemout, this is the ru Where the article is plain and clear tn its accusations, and there is no doubt about the judge must say to we jury taat 6 the Jury must take the law y Where there is any doubt about it, where one gut read it and interpret it in one way, and another in ao other way, then the jury are eutirely independent of toe Bench, and they must say What coustrucdom they will put upon the article, 1 think 1 can better illustrate te When eve! your understanding and comprenension tue rule which I desire to lay dowu by calling yous, aiention to this Hbel Tho first matier charged in the complaint as Mbellous is tho following — “This man has made more money by secret partner. ships in army cloth, Dilankets, clog and gub Con re tuan apy tity sharpers, Jow or Wentio, iu the city of New York.” That lunguage ts not eo clear that 1 have @ Tight to say to you, it is Hbelious, aud you must so ind it It ts a case Where it beiongs co you to put a coustruce tion upon the language, aud to ray wheter you wiil apply to it the construction which Judge berrepout and dn, Eivarts contend you should put upon it, or whetuer you will adopt the other construction put’ upon it by the other side, In other words, wuether you will say that Mr. Weed meant to accuse this wan of making from ihe government dishovestly by sharp contracts, in the way sharpers make their money, these sums, wore than ang fifty sharpers, Jew or Gentile. There 13 good sense m= referring this to a jury instead of to the Court, because the interpretation is to be uot by any technical rule of law, but ag the language itself is understood {mg common parlance amongimen. You Naa ry take this article to which I have adver and whether you understand this to impute to Mr. Opdyke dishouest or sharp practices; and upon the construction you shall place ge it will depend the question whether or not itisalibel. This brings me to the ise where I should advise you what constitutes a libel. & libel ie @ malicious defamatory publication of an calculated to hold him up to diegrace, contempt, or even to ridicule, It ia not necesary to charge a crime or 4 crinl- naloffence, That is the distinction between written and verbal slander. Anything published of a man that holds im up to disgrace, ridicuie, contempt, and defames him, and jessens bis character and fair fame, isa libel. Now, Tsay to you that when an article is found by the jury te be @ libel there are certain legal ae ag which » tow no is the immediately from it. that law presumes it to be falso, The law pre sumes that tho defendant has mado tie libellous accusation false! imputes another thing: it infers Mhout any proof at all. These two things the law ia fers as the consequence of the publication of every libek ‘The burden of proof, therefore, is not on the plaluuf te eliow it Lo be falso—for the law presumes it so—lut the burden is upon the defendant to show tho libel to be tree, Iwill now call your atieution to the rest of this alleged libel. (Reads ii.) The plaintiff's counsel claims that allegation charger on Mr. Opdyke the joking up of am ubfounded and fllegal clatm againet the Corporation of New York for the lose of this guu factory and its mm chinery; in short, that it imputes to him the making ap of that claim dishonestly, and getting it allowed ty Gishonert means It therefore presents for your conshde- ration thie question, io the firet place: whether the claim iwelf was dishonestly made up, or whether in fact there was, in making up and carrying through this claims far the gun factory and guns, a swadie, a fraud, & wrong practised upou the city, i have no hesttution in saying that tbat is a question which does not belong to me te decide, but that it i a question whieh belongs to you te decide, It is important that you should ascortain ia the firet place what tin scope of the imputation ju that pub- lication in this rexpect is, You have heard it commented on enough, and I doubt pot you fully comprehend & But you should, before ing to look Ww the ques tion of justification, direst your ‘attention to whet We aocusation in this reepect ia, ‘In its full scope and mons. ing; becatiso the libel mast always be Justified io the full ecope and senae and meaning in which it was published The defondante claim, through their counsel, that they* have fully justified this part of the libel, even up to \ue poimt that should gatisfy you that Mr Opdyke did commit, aa Mr, Gib the inventor of tis carbine, roid, @ great swindle, in maklay up this claim ‘the city. They base this upon tire allegas fee was 8 Wot rile of damages; that the founded upon a rule of damagos illegal aud inlaw, and therefore thas they were justified in making thia publication, Now, it becomos my duty to state te you what the rule of law ix in regard to that branch off ihe case, AST understand this act giving damages a ibe owner of the property destroyed by a tod, it giv ee WevOlve UOIN MiG He My Judas Of puis Crygea Mare we, Oh MOIR AMAL Whe vorRURMion bax | \