The New York Herald Newspaper, January 15, 1865, Page 2

2 FINANCIAL AND COMMERCIAL. arurpay, Jan. 14—6, B, M. The stock market was kea.y at tho first board, and LitUe disposition was chown to operate for a rise The Closing quotations showed variations ag fellows from those of pesterday’s second board:—Erie declined %;, New York ( gan Southe Miss.s8ppi certs Michigan Central advanced 34 berland Coai were steady With reference to the pt reports concerning the Chicago and Northwestern road, it is st that the holders of 57,826 of the 00,000 shares representing the Galena road have assented to the conse! detion with the Northwestern, and the ceriilicates are now in possession of the company, The bulk of the -emainder is probably either beld by trustees, who require certain legal formalities to enable them to assent, or is owned by rebels at the South, A suit to test the validity of the consolidation has been commenced at Chicago; but it is represented that its object is to affect the price of the stock in Wall street, in which it has certainty not failed. By a snecial act of the Legislature of Illinois it {8 maintained by the friends of the road that the consolidation has been authorized and legalized. Government securities wero heavy at yesterday's prices, partially under an unsettled feeling with regard to the immediate future of the money market and a report from Washington, pub- lished this morning, to tho effect that the untaken Portion of the ten-forty loan will be disposed of by the Secretary of the Treasury to tho best advantage. If this were actually done we need not say that it would be clearty a breach of faith on the part of the government, after its formal withdrawal of the loan on the 7th inst. ; and we aro disposed to boliove that even Mr. Fessenden would not perpetrate such an obvious bluuter. But while we believe that the Treasurer has no such intention with regard to the home market, as the report in ques- tion would lead us to believe, itis not impossible that he may have in view a European market for the balance of these bonds But even this would bea very equivocal act and a financial mistake in two ways, both by not adhering to the spirit and letter of tho notice of their withdrawal, and by adding further to the alroady ex cessive gold debt of the against the future in- Northwestra and Cua crease of which no oftici or promise has yet been made; and so the people are left ind whether the limit of the issues of gold Conversions of seven-thirty ne At the open board at ono o'clock the fraction firmer. Erie 4 r 1094, Re in, Island 102, ton-forties 1029;. Later on the street it was dell The specelative spirit ia the goid room was rather weak at the opening, but it gained strength in the after. noon from reports discrediting the Blair mission, The quetations were; 10:30 A. M. The money market continues moderately eas quenoe of the Treasry draftson the national banks being | Just now made light in order to prevent the recurrence of stringency, which would havo the effect of lowering tho es of the wutstanding securities of the govern. ment; and as more than three-fourths of the subr-rir tions to the ten forty loan of last week are payable through the national banks, and as payment is mado chiefly in five por cent notes, hitherto removed from active circulation, the process of absorption is rendered gradual and undiaturbing. The rate for money on cail is seven per cent, and in tho discount lino first class corm. mercial paper is taken at 8 a 10 per cent. Foreign exchange is dutl, and the demand is likely to decrease and continue light for a long time to come. The export of cotton and other products from the South and the diminished importations canuot but effect this result. Bankers’ bills at sixty days are quoted at'10914 a 10934; sixty days 110% 41105. Merchants’ bills stand at 108 a 108M. The shipments of specie to-day were :—$250,000 NEW YORK HERALD, SUNDAY, JANUARY 15, 1865. thing tt consomes, and it is compelling the whole poputa- tion to do the same thing The income naturally {alls very far short of the expenses, and nothing bot collapse cap eventuate upon an indefinite continuance of tho plan thus far pursued To endeavor t. resume spec.o payments geadually upon the bas!s of the current premium om gold is the best thing the government can now do for itself. The couatr, is strong anv rich enough to restore itself to solvency and ity; bot squandering its~wealth, as it is now do- ! be impossible for it to sustain itself beyond a me without reaping the whirlwind it has been igently eowing. The history of the past sustains us in our Warnings, aud history is always repeating itself. The price of guid to-day affords no criterion of what it will be @ year or two hence, unloss the necessary reforms are adopted. A meeting of the bond and stock holders of the Mari- posa Company is called for Monday next to take into consideration the propriety of raising money on a ohatiel mortgage, and so protect the proporty from legal embar- Tassments, ‘The importations of dry goods at this port during the woek ending January 11 compare as foHows with those of the week previous:— so Week ending Entered for Consump’n. raed a Value. Manufactures of wool... soo'is; Sof” gi1a 308 Manufactures of cotton. 17 ” 5,058 201 66, Manufactures of silk... 107 93318 Manvfactures of tax... 229° Misvellanocus......... 63 13, 1,290 4601 Total .........++00 656 $224,803 2,647 $407,100 rm ’ Manufactures of wool... 14 676288 045 Mauufactures of cotton 67 bert 258 sp oes Manufactures of silk... 11 7,793 3tanraT Manufactures of lax... 137 230 «BAS (136,706 Miscollaue us... 41942847718, 183 Totals..s.scsesceee 800 $94,503 | 1,681 Tots $04, 1681 $374,023 Ma.,ufacitifes of wool. 248 $78,622 260 Manufactures of cotton. 230 98,706 84 -33,667 Manufactures of silk... 18 _13;482 @ 12'605 Manufactures of lax... 305 117,242 —-105——-20)645 Miscellaneous......00. 0 — 2 Pere) Total.......cs00.6. 941 $308,062 407 $105,448 | The condition of the banks of the three principal com- mer $of the Union ts exhibited in the following table, which shows the aggregates of their last weekly Depovits, | 1 7 aL, 89 Bra earnings of the Atlantic and Great Western Rai:- way during the month of December, 1864, amounted to $357, 556. The subjoined table shows tho monthly depresiatiea of the United States Treasury notes for three years com- pared with tho decline of the old continental curreney during the same period of tims, In making the compari- son we have chosen the point in each month when gold was quoted the lowest or when paper held the highest relative value: — Greenbacks. Continental Currency. Value of $1 in coin. Value of $1 in coim 1862. Cents, 1777. Conte. January 99° January. + Hy Pebr) 9% February Big Mareh March ... 91% April. 80g May % Jone ag July *% Aug 68%, Septem| oT October. + 00% Nove: B3q Dec Bie 1963. January. February cor 47 PJ 26 Po ar 2216 by the steamer New York, $134,760 by the Etna, and $2,250 by the Havana. The subscriptions to the seven-thirty loan, received at the First National Bank to-day, amounted to $321,750. ‘The market prices of tho gold bearing stocks operate uafavorably upon subscriptions to tho sevon-thirty loan, and are likely to do so for @ long time to come. The nancial mistakes of tho government will covt it dearly tn tho future, and tho glaring inconsistencies of its policy will be a lasting reproach to it. With the passage of the legal tender law—itsolf one of the crudest public errors of our time—tho idea of gold interest on national bonds should bave been abandoned, as it was certain to prove only an element of weakness to the nation, which by 6 sanctioned two distinct and antagonistic currencies, and woakouod and distressod itself by payivg gold when, except for customs duties, it only received currency. ‘This orror its circumstances have forced it to correct to the best of its abiiity; but it is @ hard matter to remedy ‘en evil so gigantic; forthe present and prospective gold debt of the country is in excess of tho probable receipts from customs; and in view of our light imports at prosent, the ostimated amount of seventy millions from this source for the curront year cannot be relied upon. Yet Mr. Fessenden has asked for authority to issue two han- dred millions more of seven-thirty notes, making four hundred millions in all, and these aro convertible, at the expiration of three years from their date, into six per cent gold bonds. But the gold stock blunder will provent the government realizing its expectations even with regard to this loan. ‘The public will not ve eager to take it and the Treasury cannot afford to sell it. The dealers in government securities, who are no Detter friends of tho govornment than tho gold specu lators, flnd it to their interest to pul up every loan that 4s offered for subscription, because thoy make money by the operation. Their patriotism lies as much in their pookots as that of the “bulls” in the gold room, who are chiefly of the Judas Iscartot type, and with no more Principle than their interest enggests. Mr. Chaso and Mr. Festenden, by their ignorance and favoritism, have practically proved themselves among the worst enemies of the country; and the latter gentle- ‘man will retire from the Cabinet and take bis place in the Senate next March a much loss honored man than when he added to the national disgrare of our financial | Mining situation by undertaking @ responsibility which he has | Siscellansous both neglected and misused, and which he was utterly unqualified to assume. . Our gold bearing debt is so great, and is likely to be. come so much greater under the present ruinous system, ‘that the oountry stands in great danger of being anable to fulfil its obligations to its bondholders, A populur under which the people will soon begin to groan, and the ery will bo in favor of reducing the rate of interest on | gninping times of revolution nothing | H the public debt In is impossible, and the mutations, both of opinion and carthly affairs generally, are liable to be singularly rapid. The currency in the same Totals manner may at somo future time not very remote be | New companies. swopt out of circulation by a panic. These are ponsibill- tioe which all men, and the governmont especially, should guard against. The curroncy is increasing by the agency of the na tional banks alone at a very rapid rate, and the full amount authorized of three hundred mil- Jions will, before long, add to the flood of paper money already in ex- fstones, And the policy of the government we know is in favor of further inflation, The seven. | ing February 10, ab Chi thirty notes, with accumulated interest, have already | meeting. boon paid out by the Treasury as currency at par (eud rosa, of course); and there is ground for the suspicion, in view of his request for unlimited authority to issue more 21% 18% October, November. December. .. 1864. January .. July 6% August. 6 Org 4 8 November. 4 December. 3 1565. TaMULLY .eeseee x —At the close of 1780 it required seventy-four dollars in continental money to purchase one of silvor, and in May in the following year the old currency became entirely worthless. The Boston Traveller of yesterday sava:— On dontand loans tho interest rate is six per cont. This easy state of the money market has little or no influence in promoting speculation in stocks or merchandise. Peace rumors, whether believed or not, have timsettled all th markets, and current prices favor buyers rather than sellers, although thore is not :nuch disposition manifested to sell’ largely at a sacritice, Gold still rules et high figures, and probably will, so long as itis wanted for du- ties aud remiitances, or until the paper currency issues can yoo reduced to's specio paying basis; but before that can be done peace must be re-established in the The following figures show the earnings of the Chicago and Northwestern Railroad during the first week in January : $27,687 LS During the year 1864 two hundred and eighty-two new joint stock companies were erganized in Graat Britain, with an aggregate capital of £155,887,500. They are divided among different interests as follows ;— Manufacturing and trading. Railways... Totals... £166,887,500 —And forty-eight companies made new the amount of £35,315,000, divided as follews:— Campanies. Banking... Number. « £22, 1,000 7,425,000 2,600,000 1,290,000 625,000 30,000 60,000 690,000 Bl crm ne ne tone 2: Additional capital. £191,202,500 A meeting has been called of the stockbolders of the | mannor, and desires the Galena and Chicago Railroad Company who have not | Ject! amendod, provided surrendered their stock for the shares of the Chicago and | tna to interfere with tho $8303) NEWS 9035 | at the course the Peruvian troutile is taking; issues of stock to | only 1000 Pitts, FWAC Ist 108 2000 Pitts, FW&C 2d 10056 1000 Cle& Pitts 4th m 7934 20.sbs SbordeLea Bk 106 40 Del&H Canal.exd 164 100 Central Coal “o.. 47 10. WyomingVCoal’o 54 1100 Chic & N’ 260 Cumb Coal pref.. 43 100 do 100 0.005.030 433g 100 do. or 100 Quick Mg (0.810 97 60 Chio& REI RR. 102 60 a 9754 °100 do..,.. .si0 10114 100 asace 9T 200 Pitts, #W&CRR, 98 590 Mariposa Mg Co.. 8 100 do bso 08 0. 200 | 400 N ¥ Ce 100 Erie RR ‘THE PACIFIC. Arrival of the Steamship Ocean Queen, Wonoaio | THE SPANISH-PERUVIAN QUESTION. 488, e ean ie asta Arrival of Three Spanish Screw Steam Frigates at the Chinchas. Prospect of a Speedy Adfiustment of the Difficulty. FROM CHILE. AYFAIRS IN CENTRAL AMERICA, &c., &C.y &c. The steamship Ocean Queen, Captain Seabury, arrived statements, a3 Compared with the returns of the previous | at this port yesterday, from Aspinwall on tho 6th inst, with the California passengers that left San Francisco on the 23d ult., and the following specie list:— A &P.S.8, Co,.,.$17,938 W. H. & F., Taylor $6,849 J. H. Coghill. 8)200 Straims Bros, & Co., 24,056 J.B. Newton &Co.. 63,000 Dewitt, Kittle & Co. 29,060 ‘A. © RosenbaumsCo 13,680 Dune’n,herns’a&Co 30,9811 HL Cohn & G 23/200 Wells, burgo & Co. .140,574 , $353,619 By this arrival wo have late and ‘nteresting news from the Pacifle, which will bo found in the letters of our cor- respondents at Limaand Panama, We aro under obligations to Purser Perkins, of the Queon, for prompt delivery ef correspondence and late papers. Our Panama Cerrespondencs. Panama, Jan. 6, 1865. SOUTH AMERICA, ‘Tho Pacific Steam Navigation Company's steamship Chile, Captain Sivill, R. N. 1t., arrived on the 4th instant from Valparaiso and intermediate ports, with two thou- sand tons of cargo, tho largest ever brought in one vessel from the South Coast. Hor dates aro:—Valpara‘s9, 17h; Coquimbo, 18th; Caldera, 191"; Cobija, 21st; 1qique, 22d; Islay, 231; Pisco, 25th; Callao, 28th; aud rayta, Bist. 1am under obligations to Parser Stuast, of the Chile, for full reports and prompt dplivery of tha Haxatp’s South Coast correspondence. Tho news from the South Coast by this arrival is vory interesting. In Chile much disgust is felt aud oxpressed 0 press appears to be enraged that Peru did not take advantage of tho destruction of tho Spanish frigate Triunfo to at- tack the squadron of Pareja, and say that now—tho reii- forcements having arrived—it will bo folly to attompt eaything but diplomacy in order io arrange the trouble. Although the Hunatp correspondent at Lima doos not speak confidently of pcace being the resuit of the ne- 153{ | otiations still going om, thero are others who say that the trouble will soon be over, and amicable rolations onco more established botweon Spain and Peru. B% Tempo (semi-official) saya, in its issue of the 27h of December, as follows:—“There are the mest pro- o% mising hopes for the re-estabushment of ths formar friendly relations betwoen Spain and Perr. This is the impression prevailing in Lima at the close of the mail." From Ecuador we have nothing worth recording. Tho republio is at peace, and the authorities aro shooting thoge who were tho ringleaders im the late revolutionary movoment, The United States steam sloop-of-war Narragansott, Gommander Woodworth, arrived at Valparaiso Decomber 2, and sailed December 15 for New York via Montevideo aad Rio Jancir. CHILE. Now that the reinforcements for the Spanish squadron «arrived at the Chinchas, consisting of threw heavy w frigates—the Berengucla, Blanca and Villa do Madrid latter saici to be the most magnificoat verkel that has ever beon seen in the Paciic Ocean—the Chilexo pear to be much disgusted that Peru did not take advantage of tho destruction of the spanish frigate ‘Driunfo to attack the remaining vessels, and rush into a war, This is eiagular, when we consider that if such a war had commenced Chile would have been, sooner or later, compelled to take an active part therein, which would bave thrown her back many years in the rapid progress sho is now making towards @ very high porition among the nations of the earth. On this matter the Mercurio of Valparaiso says: “From the ews brouxht us the former sicamer of the conflagra- tion of the Sprnish Trienfo, and Pres.dent I’ezet's prom- ise that the Peruvian squadron should fight on the 28th of last month, every one hoped that this last steamer would bring decounts of an engagement in which their superiority in numbers and materi {given vic- tory tothe Peruvions. But immense was the surprise when, ou the arrival of the so impatiently oxpected steamer, the news spread that the commanders of the Peruvian squadron had declared their strength inadequate to attack the Spaniards. The universal conviction is that such declaration could only have been inspired by the President of Peru, and, notwihstand- ing that the tidings of the burning ofthe Triunfo ar- rived shortly after, the shameful conviction of the ina- bility of an American republic to attack two Spanish men-of-war, after seven months of eternal preparations, of indefatigable iron plating and wanton expenditure, remained unretracted. Furnished with the ceclaration of the commanders of its squadron, the Peruvian gov- ernment ropresented to the American Congress sitting at Lima, that to risk an attack upon the Spanish squadron, even reduced as it was by disaster, was to expose the Persvian navy, four times superior in streygth, to the most cortain ruin. Thereupon the Americich Congress answered, “Peru bad better leave fighting alone." ‘The Ming that could be giveu after such a statement. Thus hopes cherished by several nations that Peru would at last nerve herself to repulse a brutal and ex- cuscless invasion have faded away and left nota track behind.’ Fenelon pn shows ~ that the Mer- curio, speaking for its party in Chile, ugh itin many previous numbers u: strongly, was at the same time “spoiling for a fight” and anxious to see the entire coast thrown into an uproar by a war, which would have, from necessity, involved all the republioa, I am rejoiced that ite ‘Appoar ‘to disappointment, not only for the woll being of Peru, but for he commnsa good of ‘the continent. A very strong memorial has been presented to the government of Chile by tthe merchants of Valparaiso against the new tariff, setting forth its injury to the com- mercial interests of the country in very strong terms. ‘The President has received the document ina very A oir chants to point out ob- le portions of the newflaw, so that it may be the alterations do not im any way increase in the revenue ia- Northwestern Rafiroad, under the consolidation of last | tendod to be bad by the passage of the bill, Jane, to organize a new board in place of the old direc- its surging weight | tion, which is now defunct. The official call of the Secretary of the Galena and Chicago Railroad Company | remaining of the resources of the country being Several proposals for new lines of rail have been cottpen held under coaddcenion, it being no time to decide such questions while there is a t Fea tired may be found among our financial advertisements, nam- } to commence and maintain hostilities with @ strong for- TO THE DITOR OF THR HERALD. East Riven Bark, Naw York, Jan. 14, 1865. In your money artidle you stated to-day that the East jeago, ws the time and place of | °E Pomer , for the new loan of one million five hun- ed; the bids reached nearly half a million beyond the amount required, speak- ing well for the confidence of the poopie in their govern- ment. The market for the luce of Chile had shown but Tegal tender paper, that Mr. Fessenden’s recent applica | River Bank will increase its capital to $300,000; it should | litle movement except for grain and flour, which were tion to Congress war a covert method for obtainin, tain amount of available paper to be used at his discre- tion, and to have faith in this last would be to build a house upon the sand. The multitude of different government securities | $3000 US 68, cou 135 now afloat constitutes a public nuisance, It is not only confusing to investors, but it furnishes evidence of the entire lack of system in negotiating loans by the Trea- ury, and affords living testimony to the stockjobbing propensities of Mr. Chaso’s friends. We printed some months ago a list of the many distinct forms of securi tics offered by the nation to the people, and tho array ‘waa about as grotesque and absurd as it was convincing of the favoritism and (olly of those who officially eugyested end sanctioned their iamue. Wall street originated those various bonds and notes, the consolidation of which will, @ooner or later, take place, and Wall street ta still busy making capital out of the nation. If the nation wishes to avert threatened disaster It will hhave to go through somo very radical processes. To con- Unue working under the present faancial system will be Ftinows to it, whother peace comes this year or in aree years to come, It ia paying three prices for every- o6f | have beon to $500,000. If you will please correct it you CHARLES JENKINS. Stock Exchange. Sarunpay, Jan. 14—10:30 A. M. 1100 shs Erie RR... 83: 600 Hudson Riv RR, 10834 «+ 1086 + 3K + 630 112) 1a will much oblige 10000 US. 1200 US 5000 = do. . T0000 US6's,i0-40,c0u 103%, r 4,10-40,cou 102% 6000 Tenn'é'a, '90.. 6635 1000 Mo 'sH&Stisn 84 6000 Mo 6's,P RR ia 70 10000 Ouio & Miss cer 30% 20000 do. 30 81, cou 112% 1125¢ | of cochinoal, six balos of cotton, three active, Transactions in capper were limited. Some small lots were sold in Valparaiso as follows: —1,600 quin- tals at $17 31%, 300 quintals at $17 25, and lastly, 700 uintals at $17, all free on board. 1,600 quintals in acan were of on private terms. The mar- ket closes with a downward tendency. ORNTRAL AMERICA. The Panama Railroad Company's steamship Salvador, Mo Douglas, from ports in Central America, arrived ather anchorage on the 30th ult. She brings the fol- lowing cargo for Now York :—Five hundred and cighty- six hides, thirty-three ceroons indigo, eighteen ceroons of deer sking, two bales of India rubber and one bale of chocolate. There are no more favorable advices from the cotton crop than received per steamer Guatemala. The coffee pA Bada pee reed is of fine quality, and will be large. Cochineal also promises favorably. Tn Salvader the eleo- tion for President bad resulted immense majority revolution in bis favor. Johnaon, adias Bradshaw, and his remain upon the coast, evidently ‘waiting for somethin, to turn up.” They have, no doubt, been coun! and asain not only by the auth but by the peo Pearson gang of pirates, still ; and the report of Admiral the feebtaenere cert to these vi fg n0 more than true in every particular, and government should find out what it moans by’ #ugd conduct. Tho first to cry for assistance to the United tates are the first and :oromost in harboring and assiat- ing their enomics. The Gmoe thay come, however, when we con put our heels upon them suakes im the criss aud crush them out of existence, as the proper reward for their periide, fur tiey are all iiiice, . THR INTURIOR. By the Falocn, that arrivea here from Guyaquil and Intermed’ ate ports on the 29th ult., we have late adviecs from tie interior, by Way Of Bucnaventura. The absorb- ing iopic in thor Cavea cou*innes to be the new road, which is bel forward with eetivicy, and which, go itis Seid, Will be Comph ted, but whea, is not stated Mosquera sti? remains in that vicinity, avd there is novung definite known as to when he with move this cn voute for England, lie has been coming 80 pecting him has been given up. General i’ Coloma was about icaving Celi for Bo- His reception thero vill be of a duubtful charac- , »hear concerning the action of the general governmort in regard to his adm ‘on here in Vana- ma is correct. He may wish thi 1 nover asked for and obiained b‘8 #ix months’ leave of absen Rumors, like the grumbiing of a volcano be:o1 tton, are heard concerning revolutions in dillerent States, but, like the shocks of earthquakes here that ab first the new comor, we have become 80 accustomed to them that no more notics is taken of them whatever. We havo even ceased thinking of the subject. General Mcaquera ‘s about starting a model farm in the Cauca, where &@ certain number of youths of the re- publio will be instructed in tilling the soil freo of expense to themsolves, Better nis, teaching them how to make planta shout shan Bow ta shoot each othor. PANAMA. ‘Tho vet season has pressed, and so have the holidays, thank fortune, Weare no longer subjected to shower baths from the one, and to Pull teazes, strect racing, and acrowd of worthless ne; all of which accompany th ee: snp ns 6 din and noise nebemeaTee the three first days eo new year, we aro enjoying & quiet timo, althoiigh bow Jongicwill romain so is another matter. Great dissatiefaction’ is hd ereag this year at the amount of the commercial tax levied upon the merchanta, So far’ does this fecling extend that the French iwer- chants doing business here have held # moeting and re- solved not So pay it, leaving it to the government to use forea, if it dare to do so; this may cause trouble, as tho President says ho will use all the means at his dis- to enforoc tho payment. T have not given the mat- er attention, Conseq: ently will not attempt to go into tho merits of the case; Dut I must say that it appoars singu- lar if the State go. ernment cannot assess what taxes it pleases upon foreigners residing and doing business here, as well as upon natives of the soil. Ir it is not convenient or agreeublo for the foreigner to pay it, why nothing easier than to close up h1s affairs and leave for home, tor there will bo uo restriction whatever placed in the way of his doing so, A few days will show us which part: will be tho victors, ana L rather think the merchaaw wml have to “fork over" The French Consul here, M. Zeltner, has not only received the Cross of the Legion of Honor from the Emperor for his conduct on and since 20th of May Jas, but has also received from the Qu Spaia the Crogs of tio Order of Isabel for his assistance to the representative of that government in his over to bo re- membered light from Panama to Aspinw The Voz de America, in is last issu, takes up this subject in the most satirical manner, and says that the serenade of the 20th of May last bas given to M, Zeltner two decorations that he never would have obtained by other tneans, thus showing how much good can sometimes come out of evil. LitJe doce the French Consul care for this, howevor, 50 long as lis services are recognized in the proper quarter and he is rewarded in the manner ho has been. Tho French merchants and the commercial tax may bring him another decoration. Quien sabe? Tn one of the files of Herauns recvived per last steamer T notice that adespatch from Wash n ton says that a number of fast stcamers are soon to be in the Puc.fic as a reinforcement to our equacron, that will take the place of tho “slow cca’hes” now here; and yet in another paper of the same file I seo that a detachment of marines is about leaving New York for the -sicop-of-war St. Marys, the only well established buoy wo have in this harbor, and whch sbovld long since: have been painted biack aud white, perpendicular stripes, a4 is usval w.th those anchored in md channel. Now, I intend horeafter to harp upon this subject in every lotter, and intend keeping the run of the fast steamers that are soon to ar- rive here—-(Have they started yct?)—and wil’ note their eondition when they arrive, and tell al’ about them; for [ this is the only way in which these interested in the com- ) merce of the Pacific Ovean can find out how their inte- rests are watched over and <ared for by tho sieepy- headed Navy Department. It is all folly ior the public to suppose that the late attempt on the steamers of the Panama Railroad Company is the only one that will be made if the war continues. Wo have bad within tho last ten days, on tho Isintaus, como notorious revels, one of whom left in the Goldon City for San Fiancisco, doubtless to concoct mischief thero; but who may find himself in Fort Alcatraz sooner than he ant.cipates. We know that Joh: alias Bradshaw, ix still on the Contral American cons' with his party, hoping yet-to be succe-s/ul in his plans. All these straws iudicate the direction of the wind, and they will continue to be blown this way if our aquadzon, ix feinforred onl by report and rumor, instead of by strictly serviceaple ships; Ly serviceable ships I do not mean iron double-apders that belong only on a scrap hoap, bet sloops of the class and 6 of the Iroquois, and othors like her. One or two of the vory fast blockade rav-uers, provided they are wooden vessels, world now do mst excolicnt service on tho coast oi Contrai America; und after tho war is over they would serve an exselicnt purpose as coast survey or revenue vessels for California and Oregon. Will Mr. Wolles ploase take this all jnto consideraticn, aul make his mind quickiy? so that we may see some of the badly wanted, long expected, should be sont, very fost and heavily arraed steamors in this harbor at the very earliest pseible moment. Mr. Welles should likewise bear in mind thatS. B. Mallory & Co, can do much—provided they are not done for-—in six months, which, he will recollect, is lees than the timo it took for the Watcrec—one of bis favorites—to come from Philadelphia w this port. I take the liberty of thus reminding Lim of these facts for fear he should remember thom only as a dream. ‘The two sailing sloops still in commission have suficient crews for four serviceable steamers, So there can be no reason given that scarcity of seamen is the cause of other ships of the right kind not being sent. ‘White on naval matters 1 may as well add the follow- ing :--Capt. Ed. Middleton, one of the few Southern officers who remained true to his flag and country, has been kept here during a!l the war in command of the St. Mar; whon the Cyano, a vessel of the same class, is commande: by a youns lientenaut commander, I know that Captain Midaletcn has been and is anxious for active service on the Atlantic; yet he is kept here Jong beyond his term, apparently condemned to an inferior ccinmand and ap inactive life—for what, pray? For remevning true when nearly all others of the South were faiscr Is thie a just reward for honesty and patriotism? Who will answer the quection? MISCELLANEOUS NEWS. The steamship Ocean Qacen, from New York on the 23d ultimo, arrived at Aspinwall on the 2d instant at daylight. Her passengers and the California mails crossed the same day, ensbarked on board the steamer Golden nd sailed the same evening for San Francisco, The } gers by the Ocean Queen, and the Costa Rca on her last trip, make tLe most terrible “omplaints in regard to their treatment on thoee vessels, They say, 1 it is poesible to be sv, that everything now is worse than (or- merly, and that passensers are consider-d and treated but little, if any better manner, than cattle or hogs. How long will this last? Certainly the crowds travelling between Cal ‘ornia and the East exhibit on immense amount of forbearance in eo long submitting to be thus trifled with by one man, or by those men whom he em- ploys to do bis dicty work. From what we hear, there is a prospect of the steam line between Now and Panaina going into opera tion; this will iner activity of tke port and traffic over the railroad very considerably, and will, in ume, grow to bea highly remunerative route, This place is rapidly growing in importance, and if the government hax common senso enough left to continue the present contract with the railroad company, why, in a few years it will see Vanama one of the most iimportant and pros- porous places within the tropica. News from San Francisco. San Francisco, Jan. 14, 1865. Efforts are making to open direct trade betweem San Francisco and Salt Lake by @ road to the Colorado river and thence by steamer, This would give Salt Lake a nearer source of supplics and a market than at present. Subscriptions to the Sanitary and Christian Commis- sians are coming in very briskly from all parts of Cali- fornia, os The Monitor Camanche will make her first trial trip next weok. Tho mail steamer Sacramento sailed to-day for New York, with about five hundred passengers and $1,077,- 631 in treasure. Arrived, ship Andrew Jackson, from Now York; schooner Eustace, from Baltimore, via Rio de Janeiro. Also arrived ship Lancashire, from Hong Kong. She brings no later Chinose nows. Sinking of the Schooner Sarah B. James. Bowron, Jan. 14, 1866. The schooner Sarah B. James, of Fall River, from Philadelphia for New Orleans, with coal on government ‘account, experionced s heavy gale and lost hor rudder. On the 9th, the vessel being in a sinking condition, she was abandoned, and the crew were saved by the brig Dariou, which arrived hore to-day. Hon: dents. = Nashville letter in New York Times, Dec. 18.] ‘ea excellent macadmized roads radiate from Nash- ville, as follows:—On our left, near the river, rane tl Lebanon ae then the Murfreesboro ik Pp ors to Army Corres; Nolensville and then the Franklin These are the bigways lead! south, and near the latter stands Forts Negley, Ino and Mor- ton. Then comes the Grannywhite pike, then tho Hills- boro, then the Harding and then the Charlotte pikes. These lead from the city he and near them are located Fort Houston, Two-ten Fort, Baldhead Fort and Fort Gillem. Then thero are the Hyde’s Ferry and Buena Vista pikes, running in @ northerly direction. The immense fort on tol Hill protects these pikes, while the neighboring works on the hill command at ail points of the compasa, The fortification is called Fort Andrew Johnson, after Governor. Thon there are four V po spectively to north, east, south and west. fort is called Fort Browning, after the Governor's private secretary; the eastern work is called Fort Glen, after the correspondent of the New York Haraup, who was hero during the blockake of two years ago; the southern fort is led Fort Lindsley, out of honor to the son of the Postmaster of Nashvilio, who was at that time acting as personal aid to Governor Johnson; the western is called Fort out of cow to the subscriber, = was ‘Aminant Provost Marshal of Nashville during THE STREET SWEEPING IMBROCLIO. | SETTLEMENT OF THE DIFFICULTY. REMOVAL OF THE HECKER INJUNSTION. PAYMENT OF THE LABORERS, The Citizens’ Association Denounced at a Meeting in the Park, Key kee, ke. Supreme Court—Chambers, Before Judge Ingraham. Jan. 14.—John Hecker ws, the Mayor.—The street sweepers, to the number of @ thousand, perhaps, wore early in attendance this morning to hoar the decision of the Court om tho motion to dissolve the Hecker tnjunc- tiom, and intense excitement prevailed among the work- men wheu it was announced that Judge Ingraham had taken hia soat upon the bench, and was about delivering his opinion, When it was known that the injunction was dissolved the crowd became perfectly wild with delight, tossed tho!> hate in the air, and gave vent to their appro- bation in loud aud prolonged cheering for the Court, Jobn EB. Devlin aud ox-Judge Allen. A large police force was in attendance to preserve order; but, fortunately, there was no need of their services, for the best of humor provailed on all sides, Judge Ingraham, in deciding te remove the injunction, took occasion to remark that many of the queations in- volved in tho suit were of such acharacter that they ought not to be finally decided on a preliminary motion to dissolve the injunction, and among them were the questions as to the right of the plaintiff to bring the ac- tion, and the remedy which he might be eventually en- titled to if be should succeed in the trial of the case. Upon these questions he refrained from oxpressing any opinion, because there wero other valid grounds on which the decision of the motion rested. After referring to the complaint and the grievance sought to be redressed by Mr. Hecker, the judge remarked :— The ord nences of the Common Council provide for the City Inspecior’s Department, and am the duties de- volved upon that olliver is toat of cleaning the public streets. (Corp, Ord. 354.) In that orliuance provision is made for & Burea» of Sanitary Iuspecton and Sir0eet Cleaning. ‘The officer is required to keep correct ac- counts of the time of the men employed and of the work done by them, and expense, when not done by contract. The thirly-seventh section, p. 161, provites for auditing bills and accounts for work done under his supervision, requirmg him to certify such acts to tho City Inspector for all such work, and prohibits the Comp- troller from paying any bills or money for the work of street cleaning either by contract or otherwise, until au- dited and approved by the City Inspector, A subsequent articic provides for the duties of this oflice when a con- tract is made for cleaning tho streets, Under these pro- visions it is apparent that the whole charge and super- vision of cleaning tho streets, whether by contract or otherwise, is dctegated to the City Inspector and his sub. oriinates, to be performed, of course, y the mode pre- acribed by law. For that purpose he is the genoral agent of thocity, was within the delegated authority and is authorized to clean them. Nor is it only in reforence to of streets that such power is conferred ty Inspector. For various purposes he has authority to employ men to work for the Corpo- ration, sithor by contract or by day's work. AW these ‘varied causes of employment within the genera scope of kis authority, give him the power to employ men for these purpuses, and, when so employed, they be- come entitled to claia from the ity compensation for services they may render. Ia Donohue va. 35 Barb., 461, it was said:—“In such cases the real question is not’ what power was intended to be given to the agent, but the power a third person whe deais with him, had a right to infer he possessed, from his own acts and those of bis principal ;” and such ‘wets, though unauthorized in tho first instanoo, may be ratified by the Common Coun- cil. The doctrine of ratification to municipal corporations, as well as to: individuals (Peterson vs, the Mayor, 17, N. Y., 449, and in Brady vs. the Mayor, 20, N. Y., 312); Denio, J.,' while holding that a man ‘cannot rocover who makes a contract with the city contrary to the pro- visions of law, notices as distinct from such a cage that of one who has bona fide performed labor onder sudh a con- tract, and may recover what such labor is worth. ‘The Court thon proceeded to show by analogy that tho city bad ratified these contracts, and said he had no doubt of the validity ef these claims against the munici- pal authorities. The cbjection raised that there was no monoy in tho treasury t pay theso debts would not hold ood, as was shows in the cases of Groen va, the Mayor, in the Court of Comnwn Picas, and Darlington vs. the ered ae Court of Appeals, In tho latter case the us ‘It was held by a majority of the Court that the city was Hable to be sued, and to have judgment rendered against them, although no means were lagesney by which liabiil- ties could be dixchargoi. Im all those cases the Corpo- ration were defending the clairas, and thov do not present the question which arises in this case, whether, when tho public authorities have exceeded the bounds which the laturo has prescribed to thom, men who have ignorantly worked for the public or uader their authori- ty, should be deprived of their puy on account of such violation or the law, * e's 8 mc’ ie not necessary, however, for me to say. more on ject, since the course ad ‘by these officors has been rati- fiod by tho cliy, and the payment of the moneys guaran- teed by them. I consider this suificient to entitle tho workmen and laborers to payment, and renders tho Cor- pews Hable therefor. For the reasons before stat am, therefore, of the opinion that these ciaims aro vali and should be paid, and that the injunction cannot be bBustained. Motion to dissolve the injunction granted. Scenes Outside. Immediately upon the decision of Judge Ingraham be- coming known among the crowd outside of tho court room, the liveliest demonstrations of satisfaction was manifested, and the anxious, carewern expression were dsplaced by a feoling of pleasure and sense of relicf, which recelved vent when in the open air, in cheers and Joud congratulations, After leaving the court room the crowd remained around the steps of the City Hall until the appearance of Mr. Allen, one of the Corporation counsel, when loud calls were made for @ speech. Mr. Allen gratified them for a few minutes in words of con- gratulation, taking occasion to say to them that “now they had gained their case, they must be quict and peace- able, and no matter wbst troubles came to oppress them in the future, must nover again be guilty of the like out- Fage perpetrated upon Mr. Hecker, but always abide by the law, remembering that its majesty would be vin- dicated, and justice done them in all cases.” The re- marks were received in good nature, with @ reservation not in Mr. Hockor's favor, when the crowd gradually dis- persed in kn ts of two and three to talk the matter over. PAYING THR MEN. About one o’clock a large number of the workmen had assembled about the Comptroller's office, with eager, wist- ful glances cast towards the entrance, but all maintaining the utmost quiet and decorum, resolving to walt in pa- tionce the slow-moving wheels of finance. Assurances had been given them thay the payment stopped by the injonction would be resumed as soon as the necessary papers and pay rolis could be got ready. The Mayor pevidg at the earliest moment sent the pay rolls to the City Inspector, with his signature annex the machinery was once more put in motion, and at half. past cne an employ’ red at the entrance of the Comp- troller’s office and shouted ‘First ward,” when cheer after cheer went up from the crowd below as the work- men of the First ward ascended the steps leading to the office. The business of paying at once commenced, and the men who had im the past troubi tion and cold staring them and their famil were now the happy recipients of “green! glad the heart and satisfy the more ing ture. Several policemen were in attendance and helped to fucilitate the work, As fast as one ward was paid off her: call which was continued for closing the office. The men received ee which in many instances le. yr the time, and perhaps for all ti ‘Thus has ended the attempt to muzzle the Corporation and deprive working men of their just dues, upon @ quibble, which, it is charitable to suppose, was attempted from commend. able motives, but which circumstances and the demands of the public have rendered abortive. MERTING OF THE CARTMEN AND LABORERS. A call of the Cartmen and Laborers’ Association was made for a meeting to be held yesterday afternoon, at two o'clock, at the City Hall, for the purpose of taking some action in relation to their troubles, with a view to the adjustment of the difficulty. Soon after two o'clock, those who had received their pay assombied eps of the Hall, but not until after threo had @ sufficient number collected to warrant any pro- ceedings. Most of the men went home to their families with the money, but about one hundred remained. The meeting was opened vibe {ogee J Mr, John Toland pre- sident, who briefly related the object of the meeting to be ‘a desire to express their sense of the injustice and wrong done them, as also their determination to stand up for their rights. Some of the municipality were rather rorghly handled, the speaker closing by introducing Dr. Beebe, who read the following preamble and resolutions, calling for it the unanimous adoption of the meeting :-— we, the workingmen employed through the jon of the eity,of New York, in superintendin the labor and in sweeping and cleaning the streets, rj removing the-ashes, garbage, &c., have faithfully per- formed such labor Mo the eatistnetbon of the City Inspec. tor, who promptly the necessary pay rolls, in order to beg = x poe the amount Md and a reas, Mr. John Hecker, representing the ‘Citizens’ Association,’ an unauthorized and self-constituted bod: has caused an injunction to be ieaued restraining usd Comptroller from auch pay rolls, and : tho city government — - a8 —— retarding the paymert of our just dues, thereby 4: , not only our home aa oa but in many fee 4 the actoal necessaries Lo sustain life; therefore, Resolved, Tuat we, the workingmen, earnestly feet that it is a duty we owe © Ourselves to make known te our fullow citizens, m& public inanner, our grievances: and while we uuance any act iclenee or riot » Warrant @ rec tion ef our rights as etizens and our just dues as work- ingmen, we do fee! justified in calling this meeting, aud presenting to the people of this great city, in au honest ud plain manuer, s statement of the wronirs we are not nilerioy ing assured that the “volce of the peoplo’ willbe beard, aud the rights of the Workingmam, the Duiwark of the city, wili be maintained; and, be it fur- ther olved, That the pride we feol as citizens of thia + and glorious country, of tbls noble city, where the of liberty is plauted,’ and the oppressed of every clime seek sueltor under its branches, causes a regret om our part that any portion of our fellow citizens should 80 attempt to Ignore and divcountenance our rights a8 to deny us the pituance for which we have toiled, for surely “the rer is worthy of his hire.” Re-olved, That we recognize the action of Mr. Joho Hecker in restraining the payment due for services per- formed as uncalled for, unmaply and unjost, and an unsuccessful attempt to gain political popularity at the expense of the poor workingman, and by such action he has won our uttter contempt as aman, bas pubil von himself an enemy to the working classes, fully show hia usiinaaese be in any posle jon whutover as a representative of the 1, or on® in whom confidence could be placed. pis Resolved, That we do not recognize the right of Citizens’ or any other irresponsible body men, to control the payment for services we have may form urider the direction of the Corporation the city, and view their late.action as an unwarrantable assumption of authority, and do hereby refuse to to their dictation, and will only submit to the action rr] tho right and legal tives of the Rosolved, That we the so-called ee soctation ag acting without authorization, and formed foe the sole re oe ae ecey and et te represent people in any capacity, imi that should be roprebented and governed only by those who have accumulated sufficient wealth te tion ag one of their number, ifecalved, fa it Ht is Our dosire to resume our daily om- Ber nene and labor in order to be enabled to support our railies, and we bene picdye oameleet ‘upon receipt of our just dues, now withheld from us, to at once resume our work, and-welland faithfully perform it, Resolved, That while being compelled to submit to the Indignii'es and insults heaped upon us at times, we feel the greater perireys of united action and of sustaini each other; and do hereby pledge ourselves that we wi not hereafter recognize or continue as a member of the Workingmen’s Association avy man who has removed any ashes since the said injunction was granted, or whe may do so before our just dues are received, Resolved, That our thanks are eminently due, and are hereby tendered to F. I. A. Boole, Esq., City Inspector, for the prompt manner in which the necessary pay rolls have always been prepared and forwarded; aad for the many acts of kindness we have recoived at his hands he has won our unlimited confidence and esteem, and it ia with pleasure we hail this opportunity of publicly nam- ing him atroe friend to the workingmen, and we also feel pleasure in presenting our thanks to our worthy Comp- troller, Matthew 7. Brennan, Esq. By the prompt man- ner tp which the pay rolls were examined, and the neces- warrants drawn, he has our best wishes and will ¢ our grateful remembrance. olyed, That to the Hon. John E. Develin, our learned Corporation Counsel, we return our honest thanka, sy his prompt action and countenance our claims re- ccived an early consideration, and we hail him as a wise and lear nsellor, & lap es teie-gi pape and ene who, in the conscientious discharge of his many official duties, generously remombers the poor working man. Resolved, That we, as an association, will use — peaceable eudeayor and olfer every assistance to con. and our tate the payment of our claim; that we have every fidence in the officers of our municipal governmont, wilt cheerfully accept their advice and action as guidance. JOHN GALLAGHER, JOHN CUNNINGHAM, PATRICK McN. MICHAEL MOONEY, ce acann ded by Doprity Sheri The resolutions were secon: uty Shei half, after which Committee. who made a short specch in their vote was taken and they were unanimously adopted, result being greeted with cheers. The meeting was then adjourned to meet again on Men- , 16 Prinee day, evening, at the rooms of the street, The Bank Conspirncy Case. COURT OF OYER AND THRMINER. Before Judge Barnard. Jan. W.—The People vs. Walter G. Patterson.—The prisoner, who was atrested with Garadier and others om charge of defrauding the Bank of Commerce out of $25,000, was brought up for trial on an old indictment, charging him with having forged the siguature of Simeom Draper, Collector of this port, to a check for $1,000. District Attorney Hall appeared for the people, and Charles 8. Spencer and ex-Judge Stuart for the defend- wat. Patterson is quite a respectable looking man, en@ formerly held a good position in society. Mr. Spencer moved that the trial be postponed, on the ground that a material witness was absent. The alleged forgery took place four years ago, and it was not to be supposed that the dofence oculd bo ready at such short notice as that given them by tho District Attorney. He hold an affidavit in his hand going to show that the de fondant was not ready for trial, on account of the ab- sence of Collector Draper, who was supposed to be im Savannah. An associate counsel from Philadelphia was also absent, and this im itself should constitute a suff- cient reason why the trial of the cause should be post- Judge Barnard—You do not state in your affidavite what intond to prove by the attendance of Mr. Dra- per, Hoe is a witness for the proscoution, I believe. Mr. Sponcer—He is a witness for us, too. I don’t think we aro obliged at this stage of the case to disclose the nature of our defence. Mr. Hall—May it please your Honor, I am ina position, under tho rules of the court, to ask what they intend to provo by Mr. Draper. The indictment was found against the prisoner in June, 1861. Whex the case was called for trial it was found that the defendant bad fled from the ctty and forfeited his bail. He continued to absent himself antil recentiy, when he was arrested on charge of bing implicated in the Bank of Commerce forge! case, which was before the court yesterday. He is not, therefore, in @ position to ask a favor from the Court. If the prosecution can get al without Mr. Draper f should think the defence could also. Judge Barnard—In entertaining a motion of this kind the Court should take ail the circumstances surrounding the case into consideration, and there is a circumstance in this case which should operate against the prisoner, I have reference to the forfeiture of his bail. Ex-Judge Stuart—That circumstance should not be taken into consideration. Judge Barnard—Tell me privately, as an individ what you intend to prove by Mr. Draper, and the won| will take no advantage of the information. Ex-Judge Stuart—t always religiously believe what my clients teil me. In this case the defendant tella me that he can show by Mr. Draper that the f check im question was executed V4 @ person other than the ao- Gused; also, that the defendant and Mr. D were on intimate terms at the time of the forgery; Mr. Dra- per was a warm {friend of the defendant. The perpetra- ton of a forgery by the defendan: under such circum- stances is highly improtable, Judge Barnard—Well, ix a day upon which you will bo ready. Co be ready on this day week? Mr. Atuart—Yea, provided Mr. Draper returns from Savannah by that time. Mr. the meanwhile I aak that the party ia this case be committed without bail. Ex-Judge Stuart—We have no oljection. He will soca -s juitted. » r. Hall—-Porhaps he may. ‘The Court then adjourned for tho day. The North Ameri 's Malls. Portiann, Me., Jan. 14, 1866, ‘The mails for the steamer North Amorican, for Liver. pool, cannot arrive here until about six or seven o'clock this evening. Consequently she will wait until the eves. ing tide, about nine P. M., before taking her departure. Snow Storm at Buffalo. Burvato, Jan. 14, 1866, A driving snow storm commenced here last night and still continues. It will doubtless impede travel. The ‘weather is mild. rf Obituary. COLONEL L. GARROLL JUDSON. Apother of the heroes of 1812 has passed away. Colonel L. Carroll Judson died January 6, 1865, at the ago of sixty-eight years, in Waterloo, Seneca county, and was interred with Masonic honors. The deceased was @ native of Seneca county. He was a volunteer in the war of 1812, and Saye in the battles of Lundy's Lane and Harbor. tered as a private, and won the rank of Colonel. His son, E. %. C. Judson, has served in the present war, and haa been wounded three times. Arrivals and Departures. ARRIVALS. Livweroot—Steamship Edinbur Johuston, Captain Nicholson, Ca ‘allace and lady, Thompeoh, and lady, Mra Milde fo ough, Seharf, L three children, Mr Truman, Mr Kirkby, Mr Humphrys, Me Jones, AC ie—and 229 in the steerage, AsPiNWaLL—Steamship Ooean Queen—H D Bacon, Joho & Hooper, MA Mathis, a Wheelsn Je, Ht & Flood, "Phorus Patrieky Dr J A Nash, H Bond 1s Hoops, J B Lemenger, 1-8 ones, Jas Duprey and wife, Maj J Cay i To? W'S Fecheimet, AJ Suyde, FW Vinh, Wit. Slovenia, A Boughton and wife, Senor Bonifas, Senor Laran: Calderon, Senor Garcia, J Seddon, Senor Lope, Mr and Mrs Pearce, Capt Barnes, Claud Bro A Roscoe, John Brophy, © H Brightiey, @ Ht Mie F Francis nnd son, F 1S Chang, & Jabot A M Orborne rad child, P Sunith, ET Pearse, H Mespre,G 8 Gi H Grabam, wife and, child, Wa Cooper, wife and infant; @ Fich, J Gorrey, D Morita, A WJ Wilsey, T R Wooden. DEPARTURES. eee a ne aD cea, thre, Phurtion en aris, Mra Dut vn, ae child, JF Chapman wite and two children: Mr Wallace, Me Kinnear, BA Boas, Sr Roundot, Montreal; ©, Sebuluhiie aplain Birch, Captata Mr Mon’ Husseny, ‘Paris: lolme, 8 Baw Mundus Chas condell w ow Allen, Hamiton, Stew: if Miers, TH Bond, to; D But er, B Wirthet Couns Wm Mi C lamilton; Me wife and two Mr Robinson, red Holt, A Me Lamb, Lieut Warren, Montreal ie