The New York Herald Newspaper, August 16, 1865, Page 2

FINANCIAL AND COMMERCIAL. Touxspay, August 15—6 P. M. sUnder a pressure to sell there was a heavy declinein the leading railroad shares at the noon session of the Board of Brokers to-day. Hudson River was the heaviest sufferer, having gone down from 112, yesterday, to 101%. Michigan Southern fell from 107 to 102, and Illinois Cen- tral from 12444 to 119. The following table shows the highest quotations to-day compared with those of yester- day :— Monday. Tuesday. New York Central RR 3 90% 236 Erie 82% 3% Hal 108 4 Ready 100; 6 Michigan Conira ios Ha Michigan Sonthe 62% 2% Minois Central. 19 535 Cleveland & Pittsbar; 615 2% Chicago & Northwestern. Y4 2636 Ly Chicago & Rock Island. 106% 3 Pittsburg & Fort Wayne... 9734 vd 3% ‘At the second board the decline was checked and some shares recovered a fraction: The street was alive with rumors during the morning, and quite a panic arose when the report became an es- tablished fact that Mr, Charles Graham, a prominent broker in Exchange place, had suffered toa large amount through Edwin Ketchum, who, for tho last two months, had been in charge of the business of that gentieman. The defalcation amounts, it ig stated, to nearly three hundreti thousand dollars, which will seriously affect Mr, Graham, unless the honse of Morris Ketchum, Son & @o., the senior partner of which\ is the father of the de- failtor, makes ood the amougt, Both houses have * quspended, and some days will jrobably elapse before the affairs of eithor caf be put inte shape. To-morrow (Wednesday) will be an important day in ‘Wall street, A panic bas been fairly inaugurated, and ome disastrous events may take place before quiet is again restored. We would acvise all those who are now sojourning at the watering places to make speedy their return, as matters are assutning a shape which wili de- mand steady hands at the helm to avoid the breakers. Unless great caution is now exercised we'must be pre- pared for a ro-cnactment of the scones of 1837 and 1857, the ovents of the latter year being fresh in the memories of many of those who are now prominent among the ‘business men in the lower part of the city. Financial difticulties are approaching, and if some effort is not made to stay the panic which even now is upon us dis- astrous will be the consequences, and hundreds who are reposing in fancied security will run into ruin. Gold opened weak at 141%, and, after selling down to 140}, recovored in the afternoon and maintained the oponing prices. ‘The money market was quict during the day, and but ttle business was done at the legal rate of interest. ‘The exports, exclusive of specie, from the port of New York to foreign ports for the week ending August 15 amounted in value to $3,303,616. ‘Tho Lorillard Fire Insurance Company, of this city, has declared a semi-annual cash dividend of five per cent; also a scrip dividend of thirty por cent and six per cont interest on outstanding scrip. This company has in- creased its capital from $500,000 to $1,000,000, and its Present assets amount to $1,312,000. Tho Security Insurance Company, of this city, has de- @lared tho following dividends:—A cash dividend of goven per cent, payable on demand; a scrip dividend of fomty per cent on participating premiums, deliverable October 1, and an interost dividend of six por cent on Outstanding scrip, payable October 1; all free of tax. Counterfeit five dollar bills on the New York and Erie Bank of Butfulo have made their appearance. Thoy are- ‘close imitation of the gonvine, and well calculated to. |" 19¢, deceive. The cashier's name is printed. ‘The total value of the foreign exports from the port of Baltimore last week amounted to $260,000. The total value of imports at Boston for two weeks @nding August 11 was $1,151,571, against $1,307,086 during the corresponding weeks in 1864. Total since January 1, $14,514,947. Average amount per,weck, $453,592. The total value of exports from Boston for the week ending August 11, including specie, was $311,552, against $589,656 for the corresponding week in 1864. It is stated that the stock of the Buffalo and -Wasbing- ton City Railroad has all been taken. The track from Buffalo to Aurora will be laid by the Ist of January moxt, and the whole work will be prosecuted to complo- tion as fast as possible. The track of the Romo and Oswego Railroad has been {aid nearly to Pulaski, and the first locomotive will visit the latter piace this week. Tho following comparative statement shows the aver- @go condition of the leading items of the Philadelphia ‘banks for the past and previous weck :— August 14, Oapital.. 14,442,950 Loans 54,529,718 Bpecie. ; 1,163,931 Logal tenders. + 21,210) 20,845,048 Deponits.... 47,762,160 44,561,743 Circalation. \ 6,986,662 6,989,217 ‘The Boston Traveller of yesterday says:— Business of most kinds has become more active. ‘Thore was a slightly increased call for money this fore- noon, without any change in the supply. The current rate ‘of interost for pritoe collateral loans on demand ‘was six percent, and the best endorsed paper was sold fn the stroot at seven and eight peroent. The stock mar- ket is without any decided alteration either way, and @outinued dull for dividend paying investments and ——ts shares; but prices are pretty well main- tain | The following wore the comparative gross carnings of the New York and Eric Railroad for the month of daly: Earnings July, 1865. «$1,152,803 Barnings July, 1864. . aie 3 A correspondent puts the following pertinent questions @o the Secretary of the Treasury :— ; Can you inform me why Mr. McCulloch, Secrétary of tho Tréasury, does not publish a statement of the condi- tion of his office? Do ou think it is a fair and pre- that he. should keep us in the durk of atate of of the country at the ent til when the ‘mow, if ever, itis highly im int to know hi late our business in estabi prices, &c.! I, for one, rove of the United States government selling jus gold, according to an act of Congress, ny not use the gold in liquidation of its debts, by redeeming portion of its notes and anticipating the interest of its Donde? Again, if any gold is sold, how and in what manner it sold? What broker sells? What commission does e get for selling it? Every poor but honest taxpay: entitled to know all about it, inasmuch as we, the of the United States, have to pay the taxes to}re- deem our obligations at home and insure confidence broad, How does the 6 per cent compound interest @coount stand? How many are in circulation? The June 6 per cent compound notes are selling in the market for 3% per cent, the July's per October's at 34 a the Sub-Treasury here any of them out for checks? If not, why not? a! ‘The business at the Sub-Treasury to-day was as fol- tows:— Receipts for customs, $320,000 ‘Total receipts ..... 1,164,551 ta. 2,201,194 56,623,066 103,000 ange. Toesmay, August 15—10:30 A. M. *81, rog 100% 400 ahs Hud Riv RR. 104% 106% 200 = do. 104 5:20,r0g 104% 20/¢0u 106 U86's, a #53223 s39 eg z AE : 3 eyillll 333e8 g lo Del & Hud Canal 136 Quicksil’r MgCo 53 Coal pref, 4 en RR. . 100 +e D00 119 9500 Clove & PittsRR 500 sE888s i Saget it i : j ss3eees yeeesesy 2400 - 8 ‘minois Gon RE.. 120 180 Glove Pitts RR. or do.. one do.. 400 + 10d 600 do... . 108 300 Mil&Pr du Gh’ RR 40 % 200 © do + 80) 100 do. . 39 1000 Pitts, FW&ChRR 93 00 dO. sereee. 02) CITY COMMERCIAL REPORT. Turspay, August 16—6P, M. ‘Atcontot.—The market was dull and unchanged. Asuxs.—Reccipts none, The market was steady at our previous quotations. Breapsrures.—Receipts, 3,677 bbls. flour, 400 bags corn meal, 58,674 bushels whent, 69,046 do. corn, 24,655 do. oats, 2,720 do, malt and 460 do. barley. The flour market at the commencement was fairly active for all grades, and prices of inferior and common qualities ad- vancdd.100, aJ6e, per bbl, and good and choice brands, thongh without material change, were rather more steady. Subsequently, however, the market became dull for all kinds, and closed heavy, with the improvement ly lost. ‘The sales of State and Western flour compr'sed 12,500 bbls, ateur rovised quotations beldw. Southern flour opened fairly active and a trifle firmer, but closed dull and heavy. The eales were 550 bbls. Canada flour was in mederate demand, and 10c. a 15c, better at the start, but closcd dull without the advance lost. The sales embraced 350 bbls, Rye flour remained quiet and prices were without noticeable change. Corn meal was quiet, but prices were well sustained. We quote:— Superfine State and Western flour. 625 3 8 > Extra State. 6 60a 6 75 Choice State 6 80a 690 Common to m 67a 710 Extra round hoop Ohio. 815 a 8 40 ‘Western trade brands. 8 50a 8 90 Common Southern. 8 00a 925 Fancy and extra do. 9 30 a 12 60 Common Canadian. 67a 690 T1000 975 6 50a 610 4908 500 5 60a 675 +2608 — the close became dull and prices were somewhat lower. The sales were modorate, being 66,000 bushels, at $1 95 for winter red Western; $1 45 for Chicago spring, and $145 a $1 47 for No. 1 Milwaukee, The corn market was moderately active, but prices de- clined 2c. a 3c. per bushel. The sales consisted of 55,000 bushels, at 83c. a 88c. for unsound, and 88c. a 89c. for sound mixed Western. Oats were in fair demand atan advance, The sales were 66c. a 67c. for Western. Rye ‘was quiet, but prices remained steady. Barley and malt were dull and nominal. Berswax remained quiet and prices were unchanged. Corron,—The market was unusually dull, and the infe- rior grades were about 1c. lower; medinm and choice were steady. The sales were confined to 250 bales, at our Tevised quotations annexed :— Upland. Florida. Mobile, N.O.@T. Ordinary, 35 36 36 43 “4 47 41 Middling Good middlit 46 Canpies.—The market was fairly active for the various descriptions, at ful! prices; 1,600 city adamantine sold at 250, 1 26c. ‘We quote:—Patent 45c., sperm 36c. and ada- mantine 25¢. a 28c. Correz,—The demand was comparatively light, but tis Boga well sustained. We note sales of 200 bage fe and. 300. do, Rio, all on privat+terins.: We: .» good 20, 8 Wie, fair 19%0., inary’ 17c. @ 180... fair to- good cargoes 183%¢. a 20c., Java, inats and bags, 25c. 26c., native Ceylon 22350. a 23c., Ibo 19¢. a 22c., Laguayra Zlc. a 22c., St. Domingo 17 4c. a 17%. in gold, net cash, duty paid. The stock at in time of the various descriptions is estimated as foflows:— Rio and Santoa, 62,442 bags; Java, 8,650; Ceylon, 1,500; Maracaibo, 8,500; Laguayra, 6,913; Bahia, 5,073; other descriptions, 1,400. Coprer.—The market has been fairly active, and full tices were realized for all kinds. The sales since our last wore 60,000 a 80,000 Ibs., at 30%sc. for Baltimore, Bic. for Detroit, and 903¢c. a 80%. for Portage Lake. We note sales of 600 packazes of bicarbonate tons soda.ash, on private terms. Ts, —There was almost a dead lock. Considera- was offering to Liverpool, but the panic in Wall street frightened shippers terribly, and they did not know where they stood, and could not know until things came to be more quieted down. Rates, meanwhile, were nearly nominal. “The engagements wero—To Li A 14,000 bushels corn, 4%d.; 120 tons oil cake, 9s. a 10s. ; 650 bales cotton, 6:32d.; 500 bbis. petroleum, 68, 3d. Per steamer—2,500 boxes cheese, 40s. ; 400 bales cotton, id. To Antwerp—50 hhds. tobacco, 303, To Bremen— {00 tons cedar, 22s. 6d. ‘The charters were—A bark, from Baltimore to Cadiz, tobacco, 27s. 6d; a brig, to Laverpool, crude petroleum, 58., and a ship, from Mus- quash to Bristol Channel, ow private terms. Fisi-—Dry cod continued in good demand, but the stock is very light and the prospects of a speedy aug- mentation anything but flattering—in view of which holders have demanded prices whtch were altogether above the views of buyers, and business was, as a natu- ral consequence, exceedingly small. New mackerel meet with ready sate, and, the stock being hardly suffi- cient for the demand, prices were somewhat firmer. We note sales of 1,500 qtls. at $24 for Shore No. 1, $16 for do. No, 2, $8 for do. No. 3, $16 a $17 for Bay No. 1, $13 ‘a $13 50 for do. No. 2, and $9 a $9 60 for do. No. 3. Old mackerel were scarce and wanted. The sales were in amall lots at $12 a $12 50 for large No. 2, and $13 a $13 50 for do. No. 1, Box herring were in good demand at full prices. The sales were 6,000 boxes at 60c. for sealed and 40c. for No, 1. Frvrrs.—The market was steady in every respect. We note sales by auction of 2,200 boxes Palermo lemons, in very poor condition, at from $4 40 a $5 60. Gunxy CLovn remained quiet and unchanged. Gunxy Bacs were steady at previous quot: Hora.—The market was fairly active prices were very firm for all qualities. The saies embraced 200 bales at 15c. a 50c,, the outside price for extra fancy Western, in small lots, Howsgy was scarceand not much wanted. The sales wore entirely for consamption, at previous quotations. Hay.—The demand was fair at 66c. a Tc. for new, Ae for old, for shipping. Retail lots brought $1 and oy Hemr.—The market for Manila was quiet, but holders were: generally firm, in consideration of a light stock. The supply of American herop, which is lintited, is con- centrated in a few hands and held firmly for an advance. A few small outside lots were changing hands at our pre- vious quotations. / , ~ " ‘Hrpra —The demand continues fair, but thé business was restricted to some extent by “the indisposition on the part of holders to offer their stock freely at previous ices. The sales were 6,000 Buenos Ayres, part 18%c., gold; 4,000 Rio Grand, free, and 1,000 do., in bond, on private terms. The sales beiug equal to the receipts, no stock has accumulated. Iron.—The demand for American and Scotch pig con- tinued fair, but the business was restricted ina great measure by the continued light supply. The sales were, principally for future delivery, at very firm prices, ‘and in many instances holders wore asking a further ad- vance, in view of the unfavorable prospect for arrivals. ‘We note sales of 200 tons No. 1 American at $42, and 200 do., Scotch, at $45, and 100 do., in| $47. 'e quote Swedish tron, ordinary sizes, $155; refined iron, $100 a $105; common iron, 60 « $97 50; rods, round and square, $102 60 a $180; horseshoe, mitre, &c., $190; band, $132 50; ovals and half rounds, $127 50 a $137 50; U. B: nail rods, $10 60; Norway shapes, $9 60; spring stool, $10; tire $10 60; toecork steel, $11, and hoops, $135 a $200, according to size. Laxsexp.—The market remained steady in every re- t. The business was principally to manufacturers for immediate use, We note sales in Boston of 4,500 at $3.10 a $312. L#ap.—There has been a moderate business doing in foreign. The aales boing 180 tons at 6%. a6%.0, in gold, Domestic has been quiet, but prices remained firm. Leataer,—The market remained steady, with an activo demand from the Western and local trade for manufac. turing purposes at the late advance. Desirable tannings particularly were some firmer, though not quotably higher. joLasees was steady, with only a moderate business doing. We note sales of 80 hhds. common Porto Rico at 500, a 600. Navat Srorts.—The demand for spirits turpentine was fair, but prices were a shade off, We note sales éf 300 ‘bie. mainly at $1 30. Crude turpentine was less active and somewhat lower; 400 bbls. sold in the retail way at $7 0 $760. Rosine wore inquired after, and prices re- mained steady. We quote prime pale, $16 a $18; com- mon, $6.4 $650; No. 1, $109 $12, and No. 2, $ Tar waa in good demand from the trade at $40 $ according to size quality, Pitch sold freely, a os were firm. We note sales of 450 bbis, at $7a rie 7 60. § ‘Nara. —Tho demand for both kinds was good, but with it supply. holders were not disposed to sell but vance, and the business was only moderate. Wo ut, 630. a 6c. ; clinch, @3c.; forged horse, 20c. 8d; Supper, 50c.; yellow motal, 6c. ; zine, 200. cash. Ons.—There has not been much done in whale and sperm oil since our last. Holders not having received any satisfactory communication from the whale fleet, suit hold their stocks from the market in expectation of receiving better prices. The rales wero in small parcels $1 60.0 $1 65 for bleached whale, $1 60 for natural 90 a $2 40for eperm. We take the follow. Whalemen's List of Auguet 14.— There have been no sales of sperm in this mar- our Inst, holders’ views being above thoee of Provincetown lote, seamianing ions. “Sperm. ad since : 4 uyors. Boston B00 bin were sold early in tho weck—100 bbis. Whale—There a whal and sales of 500 bbls. have been make Pye ot at $1.46 per gallon. In early in the week, 190 bbls. bu: , belong. ing to Provincetown don private tere: Im. arty ‘sperm and whale oj jebone into the ‘nited States for the week ending ae 14, 1866:— rhale, Bone. Provincetown— bls. Bois Da Schooner V, Doane, 140 600 — 600 469,800 KW YORK HERALD, WEDNESDAY, AUGUST 16, 1865. many of the planted an unusually largo of corn, which, in the present state of affairs, will make the supply greater than the demand, and bring down that cereal to a very low price. Many of them very bitterly regret their want of foresight, as the present high price of cotton would of course make that crop of much greater value. One farmer, who had planted the portion of corn directed by the rebel authorities, upon earing of Lee’s surrender, turned over the ground again and replanted it with cotton. ‘THE INGABIFANTS were, for the most part, quiet and cheerful, receiving our troops kindly, thooch occasionally a little rebel sympathy showed itself, mostly on the part of the young ladies, with whom secession had become a sentiment hard to root out from the heart. In the parchasing of forage and supplies large numbers of groenbacks were scattered through the country, most of which wore re- reived with decidediy wry faces. The Texan always had a contempt for paper money. . Banks were unknown in the State, and since the losses which have followed on the use of Confederate money, he regards it with more suspicion than ever. However, with the occnpancy of the State by our troops, Treasury notes will naturally become the circulating medium, and the coin, now plentifully met with here, soon become as scarce throughout tho State.as in other parts of the country. Many of the negroes were desirons of joining the column, but were not encouraged to doo, and several who had stolen their masters’ horses were compelled to roturn with them. ‘The good conduct of the troops was highly gpoken of, « ‘and a contrast frequently drawn between them and tho: rebel soldiers, from whom the people had suffered greatly. ARRIVAL AT AUSTIN, ‘Gnmistakable-cvidences of loyulty were manifested as our troops imarched into Austin, and a number of ngs, which had long lain concealed, were displayed. 10 General immediately took. possession of the Governor's house. Captain Rockwell, of the Eighteenth New York, Was appointed provost. marshal, and the various dotails of organization were carried out. sold at $1 19 a $1 20, in casks, and $1 21 in bbls, CE. eS? 12 10 for prime. THE NAVAL RA —Receipis, 1,573 bbls, pork. The pork market was more active, and full price were obtained for all kinds, closing at $32, cash, for new mess. The gales were 5,500 bbls, at $32 a $3250 for new mess; $29 a $30 50 for old do. ; $24 for prime, and $24 a $24 25 for | mgd mess; also for August, seHer's option, about 2,000 bls. new mess at $32 a $3275. The boef market was Steady, with sales of 550 bbls, at $8 50 a $1250 for plain mess, and $10 a $1050 for extra mess. Beef hams were in light request oniy, but prices were very firm, Bacon was dull and nominal. Cut meats were quict, with sales of 400 packages at 15c. a 1c, for shoulders, and 193Zc, a 23%c. for hams, The butter market was fairly active, and the price of State ‘was a shade better; the sales were at 23c, a 28¢, for Ohio, and 30c. a 31c. for State, Cheese was in steady trade de- mand at 10c. a 16c. for common to prime—the latter an extreme price. ‘The lard market was loss active, but Belong remained steady ; the sales were 900 bbls. at 193g0. a 24¥e. ie —Receipts, none. The market was more active, but prices were without noticeable change. The sales were 4,000 bbls. crude, mostly for export, 88¢., and 2,800 do, refined, in part for export, 53c,’ We quote refined in bond at 70c, a 72c. Rick.—Tho market was quiet, but prices were steady; 800 bags Rangoon soldat 9c. a 10c. Savr has been fairly active and very firm. Since our last the cargo sales have been 15,000 Turks Island and 2,000 St Martin's on private terms. We quote:— Ashton’s, $425; Marshall's, $3 a $8 25; Liverpool ground, $2 10, and Turks Island, 600, Sucak,—The market remained steady for raw, with only a light business, while refined found hard sale and prices were heavy but not quotably lowor, The sales comprised 500 hhds. Coba muscovado at 1136. a 1834¢., and 80 boxes Hevana at Lic, a 16c. ted whe Sprurer. —Sinall sales of Silesian were making at 10. Stolburg was steady at 10%c. ‘The transactions in Lo- heigh were light at 10c. The Protest of Mr. P. Forbes to the Sooretary of the Navy- New Yors, August 7, 1865: Hon. Gipson Wasa, Seorctary of the Navy:— Sin—The action of the Bureau of Steam Engineering in regard to my contract for the engine of the Algonquin: makes it necessary for me to.ask for your decision, in order that @ case may be made on: reeord:for appeal, if need be, or for such other action as the ends of justice may require, At the sugeestion of Assistant Secretary Fox I as- sumed the responsibility of making a contract for the construction of'an engine in a “double ender,” with the view of reducing to tho test of actual demonstration the question whether the world has been: hitherto. mistaken im acting upon the theory discovered by James Watt, that a great economic advantage isto be gained by using the expansive power of steam as developed by the employment of a “cut off,” or whether the Navy | Department has been mistaken in building an entire navy upon the hypothesis advanced by Mr. Isherwood, and sustained by an experiment tried on an old steam- Doat fastened to the dock iti Lako Erie, that there is no economic advantage in using the expansive power of steam beyond very narrow ranges, and that the point of greatest efficioncy for amengino is to fill a cylinder rh? tard from the ler bofore the valve is Jose ‘The question is one of vital. im wee, and’ involves in its practical bt the relative standing of our navy ‘Serces.—The business was mainly for immrediato con- . ARRIVAL OF THE ‘tg-com parison, a navies of the world. My own cassia at 773¢¢. currency. We quote cloves at 27¢., | 2 + of tho Treasury Department for the State of Texas. | #0 was Jie gail tn powsr end edoporiy, and T wae therd- nutmogs at 860, a 87 i<o., pepper at 22340, a 236., pimento | ES Doctor intonds gettin about organizing the Custom | fore anxious to prevent the fu ture of our At 176, all in gold; African ginger at %e., Calcutta do, at | The Doctor int v i} “ mmodiately, which he will be able to do in eight | national resources im building a mavy.upon the 20e,» Chania ab 7740. and in casey at 70e, currency, | | or ten days, after which parties desiring to clear vowels | hypothedis which stood on no bronder foundation Year. an obzeurs experiment tried on a worn out engine tied fast toadock. The Assistant Secretary scemed to agree with me that the object was of vital importance, and to favor this method of determining tho question practically. ‘When the contract was prepared by the department it contained extraordinary conditions, tending vather to doter than to encourage any effort to aid the government in this important matter; but I thought the subject worthy of tho Leary Songer I hecame bound by the contract to remove the engino and replace it with another, mado according to tho navy pattorn, in caso it, fll short of the others in excellence, and although one- third of the total price was withheld as a security to the government that I would perform the agreement, whereas in all other cases only one-fifth is retained for this purposo. ‘As 800n us the contract was made Mr. Isherwood an- nounced that ho mtended to destroy this engine when Dduilt; and to Mr. Sorell he said, that if “Mr, Lincoln were ro-elected he would have military powor to do as he pleased,” and he threatened various outrages which he would commit.npon this engine and tho engine of the. Idaho, also building by me for a similar purpose. To these threats I paid no attention, supposing that tho de- partment would protect mo in the effort I was making to serve the country; an effort which, I Laon 4 be permitted to say, I was making without any poss.bility of profit, and thus far with a large loss, and with no expectation of advantage except that which I might share with all my fellow citizens who hope to seo the United States maintain Stself on the ocean, as it has on the land, in the front rank of nations. By tho terms of the contract the payments of the two- thirds were to be made in “six ie parts, as the work progresses, with a reservation of thirty-three and a third per cent of each part,” of which the last was due when the engine was completed,® leaving one-third as a guar- antee that I would: perform the remaining condi- tions of agreement. The engine was completed about tho 1st of July, and run at the dock for four days, as required by the department; and the bill for the sixth instaliment was duly certified for payment by the en- gineer of tho department under whose superintendence the engine was built, and counteraizned by Mr. Wood and Admiral Gregory, as rogulation it was required to bo. When presented to Mr. Isherwood for bis si:naturo he refused to affix it, although he had before him the official certificate of the completion of the engine ac- cording to contract, from which alon® he could know anything about it. Mr. Gardnor, my agent, went to ‘Washington to demand the necessary signature, and he was ref'sed by Mr. Isherwood, who nssicned for h’s rea- son, not that he had any right under the contract to |. withhold it, but that-he- feared I would net comply with my part of the agreement, in caso it should be found on trial that the engine did not perform as woll as was ex- pected, and that he intended to reserve this sixth pay- ment, in addition to the one-third reserved by the terms of the agreeme.t, as a further guarantee for my honesty ‘and responsibility. Against this outrage I protest as a gross violation of the agreement on the part of the department; and 1 demand that Mr. Isherwood be compelled forthwith to sign the Dill, in order that I may receive the money due me under the contract, On this point I nies ys your decision, that I may, if necessary, take such further steps for enforcing Fake or ‘as may be open to me. By the terms of the contract, the engine, being com- pleted, must be tried, in order to determine the very important question (if it may be cailed @ question), whether the laws of steam have béen unknown in the world till the year 1860, The trial stipulated for in the contract is to be made by comparing the engine of the Algonquin with a specified machine, namely, With @ machine similar to those which are in twenty-five other “‘double-enders."’ When the con- tract was written I introduced a clause that the trial should be made by running the two ves sels together with weighed coal; but the Depart- ment struck it out, assigning as a reason that they could not be certain to have one of this Class of vessels out of use for such « trial when needed, and L assented to the reason, thinking it not fit to require ‘a vessel to be withdrawn from active duty in time of war, even for so important a service as this. But that reason does not now exist, and a‘ whole fleot of these «double-enders”’ are at command for this purpose. Algonquin was brought to New York on Saturday, the 22d July, by an officer of the navy, and on Monday, the 24th, the department ordered her to be coaled (and she was Coaled) for a trial in the harbor of New York, as it was alleged, for the purpose of determining the met tions at issud; and the standard of comparison by which the engine was to be measured, according to this order, was a report made Lye Con; committee of the performance of the Eutaw in the Potomac river. This order one the very obvious necessity of trying the question when the vessel was in motion; and there was no pretence made by the department that the true method was to remove the peculiiar wheels of the Alzonquin, for this place, Indianola and other towns on the coast were effected; amounting to 500 half chests Oolong and | Cay ao go, 2,000 greens on private terms. Tonacco was moderately active. We note sates of 240 hhds. Kentucky at from 7%. a 21%c. Seod leaf was steady at 8c. a 23c., cash, Tix.—Tho market was steady. The sales were princt- pally in small lots, at 27, for Straits, 24c, for English, and 20%, for Banca. TALLow was quict. Sales 85,500 Ibs., at 12c. a 18c, Woou.—The market was dull, but prices were un- Tho sales were only about 60,000 Ibs. domestic 63c. a 75c; 50 bales C: 40c.; 30 do. Entre Rios and a lot of Corrientes on pri’ ‘Warsxsy.—Receipts, 100 bbls. rte and prices were steady. 400 bbls. sold mainly at THE GULF. ‘TEXAS ITEMS. The State Military Board, under rebel rule, composed of Governor Murrah, Major Pearce and James §. Holman, had received from the Stato three million dollars worth of property—such as cotton bonds, &c.—for which thoy have as yet rendered no report. A theatro has recently been opened in this city, and ts well patronized by both citizen and soldiery. The In- dian play known as “The Wept of the Wish-ton-Wish” was played last night to a crowded house. _I believe this is the only theatrical establishment in the State, RAILROADS, Tho San Antonio News learns that the raitroad from the coast, as far as Victoria, isto be immediately rebuilt, and it is thought that it will be put in run- ning order by the 10th or 15th of September. It is also thought that the railroad from Victoria to San Antonio will bo undertaken and completed within some reason- ably short time, Oar New Orleans Correspondence, New Onteans, La, August 8, 1965. INTENDED NFGRO INSURRECTIONS, ‘There are rumors of an intended negro insurrection at Macon, Ga., and Natchez, Misa, Tho alarm at these places among tko citizens has not, however, become general, but vory iittle reliance being placed in these ro- ports, The Natchez Courier, in noticing the rumor from Macon, says:—‘Similar reports have}beon made to us in regard to the freedmen of this district, as we have once before stated, but we have no reliablo information—nothing that would warrant us in saying that such danger is actually impending.” OPENING OF MAIL ROUTES. Postmaster Taliaferro, of this city, gives notice that a mail line has been established to Jackson, Miss., and Bolivar and Jackson, Tena. Tho first mail leaves to-mor- row on the Jackson Railroad. Acontract has also boen made for carrying the mails ‘between New Orleans and Opelousas, on the Teche, via Berwick City, Franklin, New Iberia, Vormiilianvilio, Washington, &e. ‘THE OROPS IN MILSIFSIPPI. The following article upon the! condition of the’ crops in Mississippi T extract from the Vicksburg Journal of the 4th inst:— We have boen at some pains to ascertain the condition of the crops in our State. The yield of coreals and es- culants will be good—but seldom surpassed. In tho Northern counties, we are assured that the wheat crop, harvested some weeks since, will yield mors than an average crop. Corn is generally good through the State.” A large brendth of land was planted in corn, which will provide a large supply of breadstuffs, which are so much needed. Potatoes promise an abundant yield. Of cotton but a smail amount will be made, owing to the extensive overilows in the spring, and the lateness of the soldiers returning from the army. We do not appre- hend that more than thirty or thirty-five thousand bales will be raised this season within the State. Everything now indicates that the crop will be good. Planters have but hitle fear of the army worm, and two or three weeks ‘of good weather will put the early.plapted cotton beyond their revages should they visit us aga all our friends in the planting interest to im- e'sure time which this fall and winter will pare for extensive planting the coming year. Cotton must command a high and paying price for some years to come. Tho old supply is well nigh exhausted, both for home consumption and export, while the amount raised this year will be but limited ia comparison with our former production. Nor can we expect the amount raised within the next fow years will equal that produced under the former system of labor here. It will take some tine to get the experiment of free labor into practical, successful operation. Let us hasten to place our State “in anucable Telxtions" to the central government. Forget the bitter past so far as possible, and, bending all our enorgies to the development of our resources, we shall soon rebuild our wasted c lages and plantations, re-establish our comme bring back the days when the prosperity of Mi sissippi was second to that of no State in the Union, In speaking of the immense cotton business now being done at Shreveport, La., the Shreveport Southwestern, of the 2d, has the following :-— Cotton is still coming in freely, and finds ready sale at price current quotations. The receipts, we should judge, would average six hundred bales per day by wagons alone. Upwards of thirty thousand bales haye been re- ceived since the termination of hostilities. “ARAND INKED” PROPERTY TO DE RETURNED TO THR OWNERS. Captain Conway, Superintendent of the Freedmen’s Bureau and Abandoned Lands, in this department, states that he is daily expecting to recelye orders from’ Major General Howard to return “abandoued” property to the owners. PERSONAL, Major Generala A. J. Smith, and Gordon, Granger are Our Brownsville, Galveston and New Orleans Correspondence. Affoira All Quiet on tha Bio | Grande. Very Few Troops in Sheridan’s De- partment to be Mustered Out. GENEKAL MERBITT’S MARCH THROUGH TEXAS ko, &o., &e. Tho United States Mail Steamship Compasy’s steamer Mississippi, Captain Kennedy, from New Orleans on the 9th inst., arrived at this port yesterday morning. She has a large passenger list and 2,200 bales of cotton on freight. Purser 8. Sampson will please accept our thanks for favors received. Our Brownsville Correspondonce. Browssvitte, Toxas, July 29, 1868, Under tne policy of ‘masterly inactivity” which seems to have been adopted by our government in reference to the affairs of our sister across the river, everything re- mains quiet upon this frontier. Cortina has not yet at- tacked the heroic city, although the time given the pa- triots to come out from among the traitors and thereby save their property and their lives expired more than a week ago. Another proclamation, it is confidently ex- pected, will appear soon, whose effect upon the sun and the heterogouous citizons of Matamoros will be in much the same ratio. The hauteur of the old Castilian and the boastful dignity of the native Indian, when combined fa the Mexican, find vent in ridiculous bombast and are inva- riably exhibited by the military leaders in tremendous proclamations which inflict no injury and close by asplen- did roferonce to God and Liberty, which is equally Larm- loss. GENERAL MEITA, commanding the imperial forces on the frontier, al- though, from tho position of affairs, holding almost boundless authority, is very generally popular with the citizens, though occasionally some high-handed act is committed to show them that they aro under the control of amaster. Of this nature was an act recently brought to my notice. An officer, ignorant and of brutal habits, was billetted on an elegant and refined family in Mata- moros, by order of the General commanding. His pres- ence was endured as long as possible, when, after somo unusually disgusting exhibitions of his charactor, he was kicked into the street, and warned to come no more. For this office the citizen, with his family, was ordered to leave the country, and he is now residing in Browns- ville. ‘The pretensions of the liberals aro invariably laughed at, asit is well known that no fores of Meier 20 can be gotten together to justify attacking a city de- fended by twenty-five hundred troops. fatai objections to the standard of one of which was that the Eutaw’s engine differed the specification which established the contrac in a vory {mportant particular, and the other was that the Eutaw was run in fresh water as cold as floating ice could make it, and the Algonquin must be run in MILITARY EXGCUTION. at Mobile, Ala, water of a summer temperature. Th Cae oe oo are salon ear Rickmoud, | _ Malor Genéral Mower’ succeeds General Granger in | sfter some opposition by Mr. Isherwood, revaiieds and Va. The execution took place in the presence of the | Command at Galvoston, Texas it then seomed that the only proper course for the de- First division of the ‘Twenty-fth corps, and was wit. | , Brévet Major Goneral John F. Milor hag beon assigned | Partmont was to substitaie one of tho vessets of the Seased by large numbers of Texans and Mexicans, ail of | 40 the command of the district of Mobile. Brigadior iflod elaas for the ee ron the two boats in whom were enthusiastic In their praise of the military | General Kilby Smith commands the post, The ‘district | the North river, where Mr, Fox had ordered the Algon. appearanco and drill of the troops; and not seldom was includes ten counties. uin to be run when he eu the report of the seeetrtroxprowed that their dark faces and blue coats | _ Licutenant General Hardeo, Inte of the rebel army, | Futaw’s performance would be accepted as # fair stand- might replace the @lthy and ragged soldiers of the em. | **Tived in Mobite on the 34 inst. ard of corhparison. ina ad pire now guarding the heroic city of the border, whose Major Generals Major and C. L. Stevenson, and Brigadior |, But instoad of this Tam officially not! Admi Piipos wero plainiy visible from. the parade grouad upon | Geers) H. H. Sibley, late of the rebel army, wore in | Grexory thet ho is ordered to mutilate the engine of the Walch inanavavved the dark colames. New Orleans yestorday. Algonquin by removing the wheels which are adapted to the use of high measures of expansion in the engine, and essontial to the best results; to substitute wheels of some other form and prgportion, and to have the engine run rh bie Meher bt ‘an engine e spect ol power measured, not by the revolutions of similar wheels, but by calculations based upon an “indicator card,’’ taken at one revolution every half-hour, and from which the formance of the machine during the five hundred revolutions, when no “indicator card” guessed at. ‘That the engine of the Algonquin, when “cutting off’ vory 6 will not perform as well tied up to the dock and deprived of the momentum of the vessel has been All negroes foand in Mobilo without passes will be ar- rested and sent to the forts to work. This is by military as woll as by civil order. Judge A. E. Cochran, of Macon, Ga., died in that city a few days since. Farewell Order of General Kilpatrick. On severing his connection recently with the Third division of cavalry, this officer addressed them the fol- GENRRAL ORDERS—NO. 28. lowing order : Huavqvarrens of Cavaury Durartuent or N.C,, Lexinoton, N. C., July, 25, 1865. } Soupmers or tae Tan: Cavanry Divieton—The order DITOR ARRESTED. Malthy, the editor of a villainous little sheet known as the Ran , published in Matamé ‘was recently ar- rested in this city. Malthy is one of the most conti. macious of rebels, and devotes his paper to the interest of the ghost of the dead confederacy and abusing our government The object of his arrest by the authorities ere is @ mystery, as both personally and editorially he ia the most harmless creature in the world. DR. GWIN. Tho Monitor, the official organ in Matamoros, an article from the Diario det Imperio, published in Mexico, which reiterates the statement Dr. Gwin's services under the empire, and states that he is at the | 1.5 a jast reached us which will send you to discovered by the department, comparing her run at heed of the government. of Boapra, sith no ee Of | Tous homes, and sevor forever the military organisation the dock with her run from Pork and {s admitted ; other title save that of ‘head director,”’ at a sixty thousand dollars a year. GENERAL STERLE. Tam happy to announce that General Steele, who has for some time past been confined to his house with an attack of the Dangur fever, has entirely recovered and is in the active discharge of his duties here. The Gen- eral announces his intention to make short work with the robbers and cut-throats who are infesting he country in this vicinity as goon as the anticipated cavalry columa while, on the other hand, the ongines of the department, taking steam for six-tonths of the stroke of the piston, not need the ae foroe of the great fly wheel which, in eo ip is. But this engine was not built to If it had boen, a large fly-wheel would have beon applied to it, as is the case with all stationary engines ever since Mr. Watt first applied a cut off, Itis true that a fly-wheel, to take tho of the momentum of the boat, could now be to tho Al, juin at @ considerable cost; and th © economy would be pro- of which we have been most justly proud; and now, al- though I know full well that this order will gladden your hearts and the hearts of many anxious, loving friends at home, yet to me the duty of writing a few farewell words to men who are endeared to me by the strongest tios, formed amid dangers, trials and hardships, weary marches and briiliant victories, shared alike in a sacred cause, is the saddest of my life From the time you first gave mo, a stranger from the army of the East, a soldior's welcome, up to this parting arrives here. hour, I have withessed only that chowrtul obedience to | duced as perfectly as if the veseel were under way; but ‘THE Poet OFFICS orders, patient endurance of hardsbi . | when it is considered that it would cost nothing to allow hore has not yet becn established, nor has Mr. Cummins, ardships, and glorious en- eee he cop and down the, nortan rive, it Oui thnstasm on the field of battle that ever characterize the true soldior, and have for you wrenched from a brave and — foe on every field of battle the laurel crowns of ¥ I who some weeks since appointed postmaster, as yet made ‘ance. General Smith, commanding the post, does his best to accommodate the citizens, placing the military mailbags at their disposal; but great incon- venience is experienced Uy, the want of regular communi- cation with the outer world, TRLRGRAPR LINE. Just prior to the surrender of the Texas Military De- partment private parties had contemplated an arrange- ment to erect a telegraph line from Hempstead, on the Central Railroad, fifty miles north of Houston, in a wost- erly direction, to Austin, the State capital, and thence to San Antonio, and from thence to this city. I am in- formed that the project is to be carried out, and work thereon will soon commence. Our Galveston Correspondence. Gatvaeroy, Texas, August 2, 1865, seem very useless to substitute at great oxponse an ex- traordinary for the ordinary momentum which belongs to the vosgel itself when in motion; and I shall not de- fray the expense of constructing such a fly-wheel in or- der to make a trial at the dock a fair one. ‘There are other objections to every trial involving cal- culations, to be mado by experts, which are insuperable, ‘The persons proposed are all more or less under the con- trol of the Bureau of Steam Engineering, either as con- tractors or employes; and I certainly would not submit to have them decide, upon abstruse calculations which I do not understand, that the Algonquin ought not to beablo to do what I'am entirely confident she can do, if permit- ted to run in the North ri Tecan readily understand why tho Engineer-in-Chicf should be unwilling to have his hypothesis brought to the test of actual practice, If it should be that, after having constructed an entire navy, dreds of millions of the Ye. not the words that can express my full appreci- py of oo ee command, or su Meiently thank hloers and men for tho encouragement and kindness bavye ever received. he peearery! Tcan only aay now, as T have often said before, that when worn out and hungry, ignorant of the hago | you have marched and fought through the aay ap without @ murmur struggled ail night th the swamps of the Carolinas, or on some doubtful field like Lovejoy Station, Waynesboro or Monroe's Ci road, when all seemed lost, you rallied to the bugle’s call, and by reckless bravery, such as the world never saw, rode down your foe, then as now I cried, “dod bless the brave soldiers,” and my parting words to you pow are, ‘May God bless you.’ A grateful re- No material diminution of the number of troops in this pee with its Broat warm heart full of gratitude and re of the American le love, ma 4 will monuments to your | upon his own crude id the whole civilized world dopartinont will result from the order of the Seoretary of | Filth coueaden and. praise forever. Im, song and #t ye Deon right in obeying the “law of Watt,” and that War to Goneral Sheridan to muster out as many as could | your glorious deeds; but it can never know how muck experiment in 1860 in Lake Brie only proved that he be spared. Some few regiments whose term of service ] it owes to you and your comrades, living and dead. hi steam sgn to work with, instead of oy ing But the proud thoughts of duty nobly done—that you aur to uphold the honor of our flag, and save and purify the natlon—is all the reward you will need; and as the record of your fame is pare ee let your actions in the future be, In olvil life remain true to those principles for which you have risked #0 much, ie strive to crush out oyalty throughout the Ian woreal, \Jreedom and the unity Wu tence ®@ century is bones Fo byt ee would ‘certainly be ui ” jut I cannot jand why the department should de- tire to prevent an exposure, if the truth realy socal, it. lato now, Id millions had nearly expired have been mustered out, and this, for the progent at least, ts all that will be, GENERAL MBRRITT'S CAVALRY COLUMN, After a long and tedious march, made doubly irksome by the hoat and scarcity of water, the cavalry column under General Merritt has arrived at Austin, and the na- onal banner once again floats over the capital. superior mm MAROR By command of — Major General J. KILPATRICK. portant across the country wae without incident worthy of | Lewauurn G. Ker, Brovet Colonel aud Assistant Ad. moved oat poculiar mention. The mon for the most part conducted Jatant General. 60 woll themeolvor woll, and instances of plunder and pillage Dermat at Baristow, N. Y.—The ogre wero vory rare, and those perpetrated by the infamous bright ht soon on Fried Sigh! Brothers’ distillery, at Ee] stragglers who seem inseparable from @ long march; The property Hea conkoosed by ‘the | _I therefore whother of infantry or cavalry. qoverement, aol wes Joulty consumed. ‘The property | of the cus cuore. eos retaneced atens, totes Be | LS ‘The officers report the crope through the country as Fistoae tanara gen as wok nwa gine OTT PrOmMALDE. AaMOIDALing @ comtjauagcd of Me HRs ~~ wo factories started up there aad they sent aavertiormente toall the ye provinces, offering such gration fever at once spru in the rawest and rudest stale "wore employed for that purpose, ahd rust train on the Verinont Central Ratiread the migration of mem to Galifornia "m 1849. port Heratd, August 14. MARRIAGES AND DEATHS —1 At Grossi! oct i Gondon, Majed Maneen a dina, we &, to Mary a hd ee L by the Rev, ALT. Hooters Roe 4 Sa Uinots, to Euiza oF Chicago, HL Mur, of Lowener, Eny ssuRGvCK—Masrers.—In this city, Om sr bee the Rev. Samucl H. Cox, rook! see pareh, by. he Rev. Fa ict man" vavey 8 hut ie Rev, — ican, Means to Maxy Fraxces McGuarm, all city 1o Mumery--Bnewxax.—On Saturday April 29, at the Church of St. Pau! the Apostle, by the Rev. J. T. Hecker, Taugs Murriy, late of the Thirty-fitth New Jersey Volum tome, to reed second daughter of P, Brenmaa, joomin; Nears—Soorr.—On Thurrday evening, August 10, by ange Be Patenon, ir, Wicaas Nake to to By — hie both of Meroe — ‘YKR—Liorp.—Ip Brooklyn, on Tuesday, by Reve 8, Barnes, Geonas WvKta, Jey ‘is ieee Luorp, all of Brooklyn. Died. Aroren.—On Monday, Au 14, Was, youngest gon of O. H. P. and Mary Archer. The relatives and friends of the family are A ee rents, Eighth avenue, between a thie [ reece afternoon, at 3 o'clock, without fur seer In Brooklyn, E. D., om Monday, August LEY. —In ) D., on Grorcs B. Mocusutan, lavant son of Heury ‘aud Hama I. Bailey. The funeral will take place this (Wodn: at eleven o'clock, from the residence of his gi . No, 270 South Fifth street, Bro klyn, &. D. Bogert.—On Sunday, August atone A. M., Geom cova, daughter of G. C. and Bilza M. Bogert, aged eovea, months. Brenxay.—On Tuesday, August 15, Guonas Brannan, only son of John and Margaret preunaa, aged 2 years, 6 months and 11 days. the funral will take place on Thursday aiiprnaeey ao two o'clock, from tho residence of his parents, 106 Wast- ington street. The friends and relatives are respectfully fuvited to attend. Aria ry reuse Monday, August 14, Axx Braxagam, wife of Patrick Branagan, aged 53 years. ‘The friends and relatives are respectfully invited te attend the funeral, from her late residonce, 243 Madisom, street, th 8 (Wednesday) afternoon, at one o ‘clock. Bzowy. Monday evening, August 14, Axm G,, daughter of Bon). J. aud AnnioS. Brown, aged 8 month and 12 days. . ‘Remains to” be interred at Onk Hill Cometery, ited Boat leaves foot of Jay street, New York, at eight o' this (Wednesday) morning. Buaxs.—On jay morning, August byte bee | peloved wife of William J. Burke, in the year er od The relatives and friends of the family are invited to attend the funeral, from St. Mary’s Grand street, - broari o'clock, Mass will be the of her soul Canes At Riverdale, on the Hudson, on bewertey August 14, Mary Warwricut, wife of Nathaniel Carnes. ‘The rolatives and friends of the family aro invited te attend the funeral, from her late peor ecty bvs (Wednes. day) afternoon, at two Perego Teaiea"s mes om Rivor Railroad station, Thirtiet! prreth, E , Returning, leave Rivordale at 3:22 P. M. The romaind will be to Mount Auburn for interment. CursTox.—On Tuesday, Aucust 15, at the residence her son, Doctor Alexander Clinton, Euzaueta, widow Charles Maple in ork hreah be} = basa Age ‘iene Cis ‘he relatives ani jends are inv ‘3 corner of Hammond ursday morning, a& funeral, from the Memorial cbure! street and Waverley place,, on eleven o'clock, without further notice. Coxxy.—On Tuesday, August 15, Euuex Conny, youngs est daughter of Patrick Conny. The friends of the family are invited to attend the fu. neral, this (Wednesday) afternoon, at half-past twe o'clock, from suena plage wren fic Cansvax.—On Tuesday, Au; Anna Cama. ; and 4 days, daughter ef van, aged Lyenr, 3 months and ‘and Dorothy van. $ ‘The friends of the family aro respectfully invited attend the a her father's resi corner 144th strect — : ith avenue, this (We afters noon, at one o'clock. Ducnwrrz,—At Hoboken, N. J., on Tuesday, Augus® | loved wife of Charles A. Duel morning, August Mary "hex, Felict of Daniel Dev- aged months. Telatives and friends and those of her sons, George, ‘Thomas, Daniel and John, are Foetal, invited te attend her from her late jence, 119th street, Hier aged L Funeral thi from the residence of bis parents, No. ninth street. Hort. —On Tuesday, August 15, Mrs. Hannan Huis. Friends are invited to attend funeral on Thursday afternoon at one o'clock, from her brother's residence, No.gma.--On Taosday, August 15, at 636 A.M, Tawovows Gray, only son of Ben; min and Angeline Habbs, aged Mh yey! @ Folatives friends of, the family, ale. the, meme 0. of b. F. and Man. eaday, August Ferat the residence of her paronts, 127 Grand ‘street, Williamsburg, Euae MoManoy, aged 13 months, ‘The friends and relatives are respestfally invited te Les nend the funeral, this (Wednesday) afternoon, at twe o'clock, Previtzo.—On CaTHBRIND ugust rem vi10 wife of Joseph Fr ae Hunlor'e Point, New York, after a short fonds an¢ are requested to,attond the Friends and acquamtances tuneral, which will take place this day (Wednosdagh, — {ec ponen notice. 7 ‘ nadian papers please copy. Powsn.—Oa ary A Epwanp Joun, son of John B. abd sand Pere, tet ar toa fronds and rolatives. of tho family are respetts fully invited to attend the fut ale (Veteene? al prn00n at _two o'clock, ‘rom hie renidenety 2 hy eta