The New York Herald Newspaper, July 9, 1868, Page 9

FINANCIAL. AND COMMERCIAL. WEDNESDAY, July 8—OP. M. The gold market has been quiet but firm to-day, and the quotuations were from 140% to 141, with the closing transactions prior to the adjournment of the ‘Doard at 140%, following which the pricé dectined to 240%. Loans were made at 2% a 5 per cent for car- fying. The gross clearings amounted to $38,650,000, the gold balances to $2,103,424 and the currency Dalances to $3,089,771. The steamer Scotia took out $755,000 in specie, ‘The Sub-Treasury disbursed ‘$983,000 in coin in payment of interest and converted $678,900 of seven-thirty notes into five-twenties. Money was in good supply at 4 @ 6 per cent, with ‘most of the loans where first class houses were the borrowers at the lower rate, Gommercial paper continues scarce and the best grade is quoted at 5 a 6 per cent. There is no probability of ny further advance” in the rate of /ipter- est for some weeks to come, and although it may be put up to seven per cent, in October the in- ications are against any monetary stringency so Jong as the government remains out of the market as ® borrower and cufrency contraction 1s stopped. The @took market remains firm and the speculative tem- per of the street favors higher prices, ‘The reports relative to the growing crops from all sections of the country are very encouraging; and the bulls argue rom these that the already large earnings of rail- * ways will be comajderably further increaséd in con- @equence of the heavy demand for grain transporta- tion efter the next harvest; and this expectation is | 2° Mot likely to be disappointed. Government securities were heavy at the opening, and on thie first cal! prices were + a 44 lower than at the close ast evening. About noon, however, an active demand succeeded the previous pressure to @ell, and prices advanced % a 3¢ per cent. There was considerable excitement on the street over the bal- foting for she Presidential candidate in the Demo- cratic Convention, but the spprehensions which fol- towed the adoption of the platform yesterday sub- sided. The resolutions embodied in the latter in relation to the finances are open to severe criticism, and they fail to carry any weight with them, while they are without grasp of the subject and verge on puerility. The inference, therefore, is that the Con- wention is ignorant of the financial question, and hat ia true of this part of the platform applies more ‘Or Jess to the whole of it. At the close the market ‘was ateady at the following quotations, but it is not yet entirely settled:—Registered, 1861, 112% 8113; coupon, 1881, 113% @ 11334; 5-20's, registered, 1962, 10034 a 10944; 5-20's, coupon, 1862, 118}¢ a 118% ; -20’s, coupon, 1864, 11034 a 110%; 5-20’s, coupon, 1865, 11134 a 11154; 5-20’s, coupon, 1865, January and Vuly, 108% a 108% ; 6-20’s, coupon, 1867, 108% a 108%; 5-20's, coupon, 1868, 108% a 108% ; 10-40's, Wegistered, 107 a 107% ; 10-40's, coupon, 107% a 407% ; June 7.30’s, 108% @ 1085, ; July 7.30's, 10834 a 4085; August compounds, 1865, 118%5 September Wo., 118; October do., 11734. At the commencement of business the stock mar- cot was firm, and at the early session of the open board Erie sold at 70%, Reading 97%, Cleveland nd Pittsburg 97} and Rock Island 107%. At the (Grst regular board the volume of business was light &nd prices were slightly lower on the call. North- ‘western closed 3; lower than at the same time yes- terday, preferred 1, Fort Wayne 1}, Ohio and Mis- wissippi %, Tennessee sixes, ex coupon, 3, and North Oarolina sixes, ex coupon, , while Tennessee sixes, * few issue, were % higher. Government securities ‘were heavy at a decline of % a %. The transac- tions in Tennessee sixes have become light, and al- though the bonds of the new issue advanced slightly ‘ander speculative manipulation, the improvement is Jikely to be only transient while the finances of the State remain in their present unsatisfactory Condition, and of this there is no immediate pros- peot, if we may judge by the tone of the Nashville Press and.Times, the recognized organ of the party (power. At the open board at one.o’clock Rock sland was active and excited and advanced to 110 under the operations of the party controlling it and B revival of yesterdays rumor respecting @ cash ividend to be declared ‘at Chicago to-day. The re- mainder of the railway list did not sympathize with this movement. At the second regular board the ge hee rie af arn Rock Island closed 2 higher at the frat regular board, Fort Wayne 3, Ohio Bnd Mississippi 4%, Pacific Mail %, and Tennessee mixes, pew issue, >, while Reading was an 3 lower. Government securities were strong at an advance warying from an eighth to five-eighths per cent, the Greatest improvement being in the late issues of five- ‘twenties. At the open board at half-past three the market was dull and Erie sold at 60%, Dieveland and Pittsburg 87%, Reading 96%, WNew York Central 134%, and Rock Island Loos;. Duritig the rest of the afternoon the market ‘was dull and steady, except for Erie, and at the ‘lose the following quotations were current:—New Work Central, 134% 8 13434; Erle, 093 a 6934; Hudson Miver, 138; Reading, 96.96%; Michigan Southern, B1K 891%; Cleveland and Pittsburg, 874; a 87%; Wleveland and Toledo, 1035 @ 104; Rock Island, 10934 @ 100%; Northwestern, ‘1836 @ 7834; Northwestern Preferred, 81}; @ 8134; Pacific Mail, 995; a 9934; West- ‘orn Union Telegraph, 3454 a 3474. The foreign exchange market was firm but quiet, ‘as usual on the day the European mail is despatched. Bankers’ bills on Engiand at sixty days were quoted et 110% a 110%; at three days, 110% a 110%; com- Mercial bills, 109% a 109%. Bankers’ bills on Paris Gt sixty days, 5.1234 & 5.11%. A London circular of the 27th ult. says the unusual spectacle is presented of the Bank of France having {e larger amount of coin and builion in its possession (han the notes in circulation, Not only are these sums enormously greater than anything the Bank of Bogiand has to show, but they are remarkable as Gaving been reached without any of those restric- tious and limitations which are tmposed by the Eng- Geb eystom. The Bank of Engtand is alsd neating @n equality in the amount of bullion with the notes fn circatation. The latter amouat to £23,687,000 and ‘he former (inolusive of the coin inthe banking de- partment) to £22,962,000. In the two great banking establishments a sum Of £71,000,000 in gold and sil- ‘ver coin and bars is now stored, & collection of the Prectous metais such a¢ has never hitherto been eomed possible. What the result may be upon monetary and commercial affairs it would Be aimcult to forecast, As such en equall-, ‘ty of tho oictailic basis with its repre- sentative notes in circulation is not at all necessary for perfect security, the natural result would be a gradual expansion of the currency in both countries, and thus a powerful stimulus would be given to spec- salative activity. This presupposes, however, @ con- @ition of confidence in the public mind which, neither Politically nor commercially, is yet visible. It must ome, however, witha good harvest and the disap- pearance of war rumors. Mining shares continue dull, and at the frat board Smith & Parmeiee sold at $3 75; La Crosse Gold, 40c.; Buchanan Farm (petroleum), 50c. Consols and American securities were quoted thus {in London to-day and on the previous dates men- toned: teres July’ Consols. 004% oi! He 94% 096 Hiei Coa. a H 73% Peis] a— a B13. i a— Erie. 45% "%G a— The following appears in the Nashville Press and Times of the 3d instant, in reference to the Tennes- fee State finances, but'the remedy proposed for the embarrassments of the State is not very encouraging for the bondhotders:— The Langs y wd lication in which our State finances have .becor volved requires an imme- diate and bold remedy, We have out nearly a mil- lion of dollars in overdue bond: called os OF Pi ve bee ae, fell due fant ay. wt and were made ane imirty Trae addition to ae have iu Souat of ace outstanding bonds ot ‘able yet in ‘ork yh te e Rr Isa Famtary any of ever: year. The Sta placed in New Yor! several penarea, thousand dollars, raised from taxa- ion, ratiroads and other sources, to pay it the interest ane | pends, which were on the ist oi bs veemé that the Rolders ise the overdu al fi oo tached ea tue funds of the ‘New York, Whether this ced by mis- ‘cr speculators Sala oie what she ‘an ho te} The effect is th Sala apes ey cy anak gs Bais "uy unt revcan gay of ot oy A Donde, Salon it le now expect is. 8 ne succeed Janu- are foreenn ts % ueuué of New York and NEW, YORKHERALD, THURSDAY, JULY 9, 1868,—TRIPLE SHEET. English jobbers ip stock. Such ay wo can now -. vo meet ind veanens and rsvoke see further rouble, amd itt —_ ao benefit to our creditors. Under these circumstances it is pate ass to have an immediate. someatting 8 Legisiature. Let the Governor ..call extra session, sto) a issuance of new ee bonds or other effor' raise funds otherwise than the: Ieee methods of the peace Sue eae Drei sadly a hiv yee tl ale soyeroment of then aa ron asink- ing fund to, approp’ to the pi of over- due beads, In ‘ret direct that the funds from the “be converted {ato s mn achinck Pee t N of the State, a lor. Our former school fund ¥ ‘will be pire Sal erey re- Psat vagal Avoid utter quent repudiation. ‘The statement of the Bank of England for the week | HA cotta Sanerst tase euniotaoge- Notes issued, 838,078,000 eats “Use coin and “Suutom +. 21,678, 000 TOtAl..+++n+£30,678,000 TOLL.» .+-.» £96/678,000 Proprs’ tal 214,055,000 Gov'ment 86: rs’ Ca) Pa apn SS) ourities, ..-- £15,206:367 Pub. deposits: spe as ‘Oth. securities |'11 100.23 Oth. deposits, 19,531,103 Notes.....,... a day 1 oO cae other Bille. 466,102 «ver coim.... 1,284,921 Total....... #45,780,421 Total........ £45,790,421 The changes from the return of the previous week Increase. £204,102 Increase. . 109,028 Deereage, Increase, ‘Increase, 1, Increase. 220,281 A Louisville journal of June 27 thus refers to ‘the British money market : The Bank of England has made further pro, ved during the week in the accumulation of abroad and by the maturity of pills dis counted. small exient of uae besinees gos The-very ing at that institution has drawn atten! diminution in dividend which must Fovults ay a fat of about £4 has taken place inthe stock,which is dificult of sale. The nanpeasien J rani the sige ae imettvations, Wri h shi ae a nde The SI ns, Which show & lency. The Alemand for, short loans upon rooping on aege has freshened the last deyort or two, and the rat advanced to 13¢ a 2 per cent. A comparison of the highest prices of the under- mentioned stocks in 1864 with those current at. the first open board to-day shows the following changes:— —— Highest-—— 1864, July 8, 1868. Lower. new, York Central 13436 1056 mE 138 26 91 27% Cleveland and Pittsburg.. 132 87 4 Cleveland and Toledo..... 157 10236 544g 110 3035 bid 11%, =_ Northwestern preferred. » 7 8% 15% Pacific Mail. ....00eeeeeeoe 826 0856 226% The imports of dry goods at this port in the six months beginning on January 1 were as follows, the warehouse movement included :— ENTERED FOR CONSUMPTION. 1866, 1867, . 1868. Manufs. of w0ol. $16,020,607 $7,656,231 $6,247,814 Manufs. of cotton. .9,506,099 6,255,304 5,261,400 Manufs. of silk ...:9,974,791 5,809,881 8,073, Manufs. of flax....7, 545, 686 4,577,647 4,076,111 Miscell’s dry goods.3,901,200 3,155,967 2,958, Total..........$46,957,473 dl wid $26,617,696 WITHDRAWN FROM WAREHOUSE, Manufs. of wool..$8,341,121 122, 884 991,076 Manufa. of Coit ie *Cisesoe one! '106 Manufs, of si! 4,167, 3,045,863 Manufs, of flax. ...3,190,749 ae at 2/801, 280 Miscell’s dry g’ds 643,335 1,056,231 Total.........-$19,984,.408 | peed $13,608,556 Add ont'd £ com. "46,987,473. 37,486,000 96,617,006, Total thrown on ———— ——_—___—_ —______ the — + + $66,641,971 ee. $40,226,251, Manufs, of Wool, $io,a50 8 sua 200,400" $4,652,877 Manafs. ofcotton 3,701,850, 4,171,062 2,097,363 Manufs. ofsilk... 4,426,161 3,285,402 1,706,438 Manufs. offiax,.. 3,496,335 2,709,387 1,762,827 Miscell's dry g’ds “730,503 1,017,886 ‘1,012,624 I acne aaa et | 757,880 $10,444,265 $11,272,129 967,473” 27,455, 26,617,605 Tot. ent.the port.$60,414,862 946,800,285 $37,880,924 The receipts for customs and the receipts, pay- ments and balances at the Sub-Treasury in this city. for my expired portion of the week have been as fol- Custom House, —————-Sud-Treasury, «Receipts. Receipts. ents, $1,664,200 "$2,630,393 $82,450,741 3,468,478 51,287 82,167,933 2,961,231 1,533,968 83,596,105 The exports (exclusive of specie) from New York to foreign ports for the week ending July 7 and since the commencement of the year compare as follows with those of 1866 and 1867:— peice, Balances, 1860. 1867. 1868. For the week..... $2,094,882 $3,075,579 $2,462,598 Prev. reported....107,084)227 97,777,680 861188,797 Since Jan. 1... $109,179,109 $100,359,208 $88,641,305 SALES AT THE NEW YORK STOCK EXCHANGE. Wednesday, July S—10:15 A. M. us 6's, "Bl, reg... 5 BE : i a535saa5 Wepnespay, July 66 P. M. Corron.—Receipts, 793 bales. The market was quiet, the demand being light, but prices for all grades were steady. ‘The inquiry was again chiefly from spinners. The sales com. prised 1,205 bales, of which 845 were for spinners and 360 for speculation, We quote:— Uplands and — Mobileand Now Orleave ida. Memphis, and Teray. MG 6 iy B SiN ax ah me. Other ‘kinds were eaiat ir: er Foor AND GRAINY Taw on bbls. Baa Fi ad bushela ment and SH do, The marcet for mia ‘eatern flour was dec’ “pik ‘active, roan a s business ‘con done both for ex, speciation, under was tro Vode ops per Bl Lines of taken at « plump advance mand and frm ; sales 650 bbls. mani and lower, the eales being 1,200 bbls. at 60 8 86 86 for demand; sales — and t6 Wheat was a Fie ciles wed Gist 8,000 | ai ot 80 BEB PJ ya vy for wile allrornta, Wt una sii No.) Core vas tale wore [00,000 bituhels a etid Western eS 1b a' 81 diy for wh eae ages for were Med shares sai ab eenee een ana Ba ri ina ae a ae \siep mali ieanenae rates cheese aritre were tA ahig 100 one, from at owes, N. we poe ’ 600, eae uP Santa! = ‘bark, — 2 bet tere yl pe Eiger te Bin Manila. It was a eae Ure lee ore eit for gpirite pavecine was a eee abee canter ue, Ti ers tae do. 2 at 62 Saas Stacie ne 5. We . cae nominal. eof hams feats wore in fair demand packages within the eitied mt for mary alte for pick! 5 ned do active, sae Seay a higher, th peta at al7c. for common to prime steam, tlerces for August at 174sc., buyer's option. Butter Pa (ed PETROLEUM,—Receip bbls, refined and 1,058 do. crude. The market for cha fe in bulk exhibited more’ activity and closed about 3c. higher. There were sales of 500 bbl at I739c., floting ab about ie, ; 8,600 do., for the balance of his month, at 113¢c id seller's option) 1,500 do., for ‘August, at Ise. for August, at 18ic,_ Crue ‘a barrels was in the sales betng 3,500 bbis, at oa ‘i market for onded continued white closing ‘of 70) bbla. pritae. igh aa Standard white, on the spot ce Of his jonth, at Bbc.; 1,000 toe eee oes end 1,000 1,000°" in bulk, ‘for at Bic., Oe “eile. ior standard white, en ation. Fre wes was at and drm, but ee ee (ot sada Scho) trove Gsiabee at Soe, 8 mye tor sive ‘the first half July at brea Lgpeck . heavy oR 0 10}40. @ LLie. for Carolina and ace ‘was in moderate request. Sates 25,000 Ibs. at wiann whey UGAR. —! nugpant.etbeskiendeneia raw urther sales of rags, though T. me wenn mace eset to jterday' it at yeate 100,000 Ibe. af 11340. 1c, Sone tome none. The market was dull and THE DRY GOODS MARKET. Though the demand for a few favorite cotton fabrics has been fair during the past week and has given the market an appearance of greater anima- tion than is warranted, the volume of business has been small, Yet as nobody looks for any considera- ble activity or vitality to the dry goods or other mar- ‘Kets at this season of the year, there ts no disappoint- Ment because of the comparative duincas in the dry goods market at the present time. The jobbers are the only buyers, and they are buying leas freely than they were @ week ago. The reourrence of the national holiday and the meeting of the Democratié Convention have detracted from the interest in the ary goods market, and what with keeping the holi day and ol -the doit of the Convention, the “attention of buyers and. sellers. had alike been diverted from the main question. Never- theless, with continued peraney oo firmness in the cotton market and with on Hf moderate aug- mentation of the stock of a anticipated, the market has maintained the firm tone before chront- led, and holders seemingly become more and more confident as the fall season approaches. In several instances sellers have been enabled to realize better and, if we may judge from prevatting indica- jons, the fall trade wil! be both large and remunera- tive. Such appears to be the prevailing opinion among the trade, and with some of the more expe- rienced it has become a settled conviction, At all eventa it would seem that nothing is ‘ikely to pre- vent tuis, The only thing that would be at all tiKely to prevent it would be a large «eciine in the Py 4 of cotton. aud this would appear to be highly improbable and the bare posaibttity of such a contingency searcely enrers tnte the calatation of either sellers or buyers, The latter, or the few who are now in quest of goods, have but tthe hope of a much lower scale of prices for some time to come. Some goods will naturally vary somewnat, but they entertain no expectation of a generaily lower scale of prices. On the contrary, it 1s considered more likely that the commencement of the iuli season will witness a I enhancement of prices. Hence there will probably be a general desire on ine part of Duyers to make their purchases at as eariy a stage of the ye ple. yt ess during the week has been moderate, mare a gong ben rity 88 nothing of moment has ay hg — ‘oollen gooas po! gor have ruled quiet but steady. The Providence printing cloth market last week ruled firmer. The sales were 74,500 pieces, at 7 ‘1340. for 56 by 60, and $3¢0. @ 9c. for 64 by 64; at Siete erie: S6 Banere were held at 9c. At Fal the market ruled very — an Fomor Sy oat witha Dasdontng Y; Sales 18,000 pieces, 64 at 8 500 seconds, ppp heh ig ty thatch for C. B%C. & BEC. Se ne pisces, © annex the current qi <= Soeee Resges orenane. Large Sale of East Now York Lote. Yesterday was an exceedingly busy day at the Commercial Exchange, Brooklyn, the occasion being the sale of five hundred lots at East New York, be- longing to the heirs of Whitehoad Howard, com- prising what is known as the Parade Ground, The attendance was large, mainly composed of Germans, bidding spirited and the prices realized fair, Besides this one sale occurred at the New York Ex- change. Below we give the partiou’ of both:— NEW YORK RRAL BOTATR = —BY &. LUDLOW AND Pour story brick store and to ‘No, 100 John at, 60.2 ft, gt CU Bt, whore W.Aigaaa.4, 108 90 ‘ngnt.idg he Bourboun, Atract of land fronting the plank road, with hotel barn and other outbuildings, extend, dng 904 do) pnenti nines, 189 {ont on the plank rod, which wide dened at a depth ft, 197.8, and running gore’ ah ‘of 70.11. fb roo seahulganete ck Fe 1 ¥ corner of Philip, 2 6 lote adjoint 1 lot cor 2 lots on. 4 lote o1 Pe 8-10 ets0d, ae gestess> HET 8 ote on Heary'av, 8 iois on Snediker av and | Broadway, each 26x100, Charles Goodwin, each. Oficial Transfers of Real Estate Yesterday, TRANSFERS IN NEW YORK CITY, et 5 st, kson 80 ft n of Madi ais, ecten ey oh wot he Be EI ee 2. seeeee Pr Be 202825 See BESS Ei Van Buren at, 48, Yau Buren o @ ‘Warren at, 6 ftw of morsel of rt 00. Bee of, Yetsaar, pasion aan of Yates av, house ai 8, 40.7 eof as en 7 panes ad iy tt 2x109 3,000 yrtl 145,52 196.2%: New Yorker ay, at tw hs aajotaing. Brooklyn and Ja- Rath We sx Ll. ‘ashing! Webat n 8, 63 1a: ath av, @ 6, BB. 40 of 13th st, house and Sot, 16.8497.10. LEASE REOORDED IN GROOKLYN. Fulton et, No 212, ni Vernon av aud Fri Lot 9, map heirs of D Lake, abouts rods. . OREENPOINT. Naussan and Leonard sts, # € cor, 4 lots, 100x100. THANSVERS IN WEATCHRSTER” QOUNTY ws Liridge at, na, Central DOL, Lot 94, BUx100. Br s'West Mount Vernon, lot 175, 10xt00, Valeting et,'n ®, Central Mount Vernon, tot 146, 200 Valentine atfn sy Central M ot 148, 5x10, 200 Valentine at; n # Central ot M47, BOI. B15 } ENLURO. | Out road to White Plains, n 8, Tarrytown, lot No 6, | Humptrey 1,380 | Fat, ws, Lerington, lot 187, 60x10, 1,530 MORRIDANT, | Gerard av, ¢ 8, Inwood, Now 1 to 10, 8,400 Walton av, w's, Lawood, fots 33 to 33, Inclusive 1200 Glare piace,’ a’, Tawood, lots 62 10°69 and 7) to ti clusive.. 343 ace, 6 8, iots ™ 8, tots 212 vo 380, 1 7 5, lots 96, 1 piace, a tr 35600 eConabra dain road, W x . 8,600 3,000 "700 1,600 : 2,600 Clark piace a uslve. 2,600 107, fnctusl 20 Clark plac ive 4b 1,800 Inwood ay, w ‘600 Cite piace "and Wi Po 700 600 2 0 1,400 Same Jots with 8, Melrose fest ciao Sana ith st, Not Lowell at, s 6 Molt Haven, Vou’ and oun, 60nt06 ear , 6 dy Bat Cenae, los 3 Sates: i ae tot bk ton h st a 4, Unionport, ith at, oa, Union pert ou 9,100 THANSY ERS EX COUNTY, N. x. The Upper road, e , Joralemon’s pro 00 owke ORANG! nan. od BY, Wy x Glenwood ay, et = eos 8 Muchman's property, 2% acres. sara Reeves’ J aves. in'e 2 ints from Bond st Astor at, ME u . Jretnon'st, 6 4, 8 Tunis property, PF Sd Property Bacres. ‘ashington at, e 8, Mackin’s proj HUDGON COUNTY —JERSRY ©) 18.8875... an Brie tom 3881 ot Stee 20x00. t, a8, lot 95, bi tenervoir, Sxi00.. Bechauca ey, ay ns, lots %6, LN nad 13, block Hy near're- servolr, hi” Moran at, #8 a I ‘50x100. Montgor ect a THE UNION PACIFIC RAILROAD CASE. Ne w YORK, July 8, 1868, To THE FpiTor oF THE HeraLp:— lobserve in your paper of to day a card. of Mr. T. C. Durant stating that “the important allogations’”’ in my suit against the Union Pacific Railroad Com- pany ‘‘are without foundation,” and that the com- pany has no contract to complete any portion of their road which has mot received the assent of ninety-nine one-hundredths of the stockholders. When I considered that I had been wronged by @ clique of directors of the company [sought redress, not in the newspapers, but in the courts. Lf, how~- ever, Mr. Durant chooses to court a news paper controversy I have no objection to meet it, and some facts decidedly unpleasant for himself and his co-directors, which it waa not necessary to develop in my legal proceedings, may possibly come out which will aid the Pag sed jc in naif ene, For the present I should iii ve @n an- swer to the followin, iat Doren (0 ‘hgt is the extent of of tom ir interest in the Untom Pactiic Ratiroad and what bg oy’ if wy, have yon recalved from that source? kholder ever received a givigend? Secon t mt i Ly Oy of your in- terest in the Mobt! eld by} or p24 others you) a what divid ha from for Feoelved Fura Wass Gaouns a oad, , that source? Givigends bas the Yiot | of it. Foun Ronnie ng recat rae not aa Seat ww 6 imate te a eae Muh ad | roar nna co lg hae maowt ent glows 1 dah 8D Boab 7 ys i | into ’ iu peat on Will a u Y Ur Fhe 200 | of that comp flee ot! ry y charges is well founded. ae publishing this In soswer to his card you will Greatly oblige yours, &o., JAMES FISK, Ju. UNITED STATES SUPREME COURT. Saeaaraaaaaaae TUT Freedom of Judicial Salee—The Avoidance of Contracts as Against Pablic Policy. John A, Wicker, Plaintiff” in Error, vs, Eli Hop- pock.—Appeal from the Circuit Court for the North- @rn district of Mlinois, The defendant is a citizen of New York, Mr. Justice Swayne delivered the opinion of the court:—This is a writ of error to the Circuit Court of the United States for the Northern district of Ilitnois. Several exceptions appear in the record which are abandoned in the printed argument sub- mitted by the counsel for the plaintiff in error. We shall consider only those that are insisted upon. It {gaald that the argument between the parties “was invalid because calculated to interfere with and prevent the fairness and freedom of a judicial sale, ‘and prevent competition,.and therefore against public policy.” The contract was that the defendant in error should procure judgment against Chapin & Co. for the rent in arrears, levy upon the machinery and fixtures in the distillery and mepone them rd sale, and that the plaintitl in errorshould bid for them the amount of the judgments. ‘The validity of such an arrangement depends upon the intention by which voce wate are animat and the opject sought to mplished. If the object be fair, if there is to. im rection, no purpose to prevent the competition of bidders, and such 1s not the neces- sary effect of the arrangement in a way contrary to public policy, and the and will be sustained. our attention has been called there was an agree- ment between two persons that one of them only should bid, and that after‘buying the property he should sell a part of it to the other upon such terms ag the witnesses to the agreement should decide to be just and reasonable. (Phippen vs. Tost 3 Met- calf, 384.) In another {oan auresd tines & party should bid a certain amount for a steamboat, about to be soid under a chattel mortgage, and transfer to the mortgagor an individual fhterest of one-third pene Paying. a corresponding amount of the Ce mon (Barne vs. Drew, 4 Denio, 290.) third case the Sent Mba between a senior and junior me The former agreed to bid the ao, ~~ his ‘hie debt for a soctitic part of Agi mort- eerie ie vs. Mors et al., 20 Il, Tn_ each of these cases the gg Seg was pen mn fuil consideration by the highest jude authority of the State. In the case before ent waa that Wicker should bid. Ther wae no stipulation that Hoj ftir’ should mot. There was nothing that forbade jock to bid, if he thought proper to do so, and not! thing which had fren Go jency to prevent bidding by others. The ob- fe ofthe contract obviously was to be secure—not 0 prevent bidding. The benefit and importance of the arrangement to i interests of the judgment debtors ts made strikt tte rent when the sub- jock iy is pried tg thet in the ight a ie consequences which oe ges c f einent. re ry ne or amount of the Judgments, Hop jpock was the oat bidder, and the ty was eeack off to him for a nominal sum. ‘here was no error in the ruling of the court upon this subject, Tt is w that the court erred in in- structing the jury that if the plaintit was entitled to Tecover the measure of dam: was the amount of the ju gesiral rte i with interests and the costs. The rule is that when a wrong has been done and fhe ine gives a remedy, the compensation shal be to the tnyury. The latter is the standard by wi ich the former is to be measured. The injured pe 1s to be placed as near as may be tn the situa- ‘lon he would have occupied if the wrong had not been committed. In some instances he is made to bear a part of the loss, and in others the amount to be recovered is allowed, as a punishment and ex- ample, to exceed the limits of a mere equivalent, It has been held that ‘where the party ia entitled to the benefit of acontract, and can save himself from a lose aris! from a breach thereof at a trifling ¢x- pense or with reasonable exertions, it is his duty to do it; and he can charge the delingtient party with such damages only as with reasonal le endeavors and expense he could not preveat.” (7 Greenleaf Rep., 66; 21 Wend., 304; 24 Wend., 457; 4 Paige, 571; 1 Mason, a ig unobjectionable one of the cases to which 87.) If the contract in the case before us were one of indemnity, the — argu- ment of the counsel for the plaintifr error would be conclusive, In that class of cases the obligee cannot recoyer until be has been actualiy damnitied, and he can recover only to the extent of the injury he has sustained up to the time of the in- atitution Of the suit. But there-ts a well settled dia- tinction between an agreement to indemnify and an agreement to pay. In the latter case a recovery may be had as soon as there ts a breach of ntract, and the measure of the damages is the full amount agreed to . In a@ note of Sergeant Williams to Cutler Others vs. Southern and Others it is said that in ali cases of covenants to indemnify and save harmiess the proper plea 18 non damnificus, and that ifthere is any injury the plaintiitT must re- ply it, but that this plea “cannot be pleaded” when he condition is to discharge or acquit the plainer from such bond or other particular thing, for the de- fendant must set forth alirmatively the spectat man- ner of performance. (Lander Rep. 117, note 1.) In Post vs. Jackson, 17 John Rep. 239, the assignee of a lease coveaanted to fulfll all the covenants which the lessee was bound to perform. It was held that the agreement was substantially a covenant to pay the rent reserved as it snoul: a plea of nom damnificus was bad, that the assignee conld recover the amount of the rent in arrear as soon as a default occurred without showing any in- ry to himself by the delinquency of the assignee. ‘was llabie also to the jessee for the same rent by priority of estate. The Judgment was unant- mously affirmed by the Court of Errors. In the matter of Negus Wend., 7, 503, the coveuant was 25 to pay certain partnership debts and to indemnify the covenaniee, a retiring partner, azainsi them. tt was held that covenant to 9 indemnity did not tmpair in the defen- judgments Co. If Wloker had ful- have been extinguished. ed, the promise of vision was made er aud the further = of Hoppock by AF on gy debtors. In- domaity was Phot nated, idea seems not to have been nt to the minds of the parties. The pul Hoppock obviously was to get his money without the necessity of proceeding further a,ainst in & Co. than his contract required. There is which Wicker cau (property claim je removed and keeps the property he was to have bought in. The consideration for his undertaking became complete when it was exposed tosale. The amount recovered only puts the other where he would have been if Wicker had fal- the agreement. The rule of jury was correct. ‘The judg- for the non- given to — iow ts affirmed. THE WESTERN UNION TELEGRAPH COMPANY. Election of a Board of Directors. A meeting of the stockholders of the Western Union Telegraph Company was held yesterday, at their rooms, corner of Broadway and Liberty street. The following gentiemen were elected a Board of Directors BL, the ensuing year:—D, N. R. 3. Burrows, John J. Cisco, Ezra Cornel Man E..Dadge, —_ fener, ho Ag tg tte “ty 9 ~ Zz at eo) jones, Ca ang J Miggton, lcAl- ne rae B. Morgan, Palmer hg en 'm. Orton, 0. H. Pal Hiram matey, Moses Taylors a Wiad, eters Ge D, A. Wataon, i 2.0, Simmons, Robert A. Aaa yA. BL Cornel, M. Lefferta, Edward ‘The new Board immediately nine, and elected the following offivers:— President Wm, Orton; First Vice President, m Sibley; Second Vice President, N. Green; Third, Vice lent, B. R. McAlpine; Secretary’ and Treasurer, 0. H. Palmer; Assistant Treasurer, R. Hart Rochester; Wo W. HL. Abell. After which the meeting adjourned. MAILS F FOR THE PACIFIC. The steamahip p Henry Chauncey will sail from thus port on Tharsday for Aspinwall. ‘The.mails for Cénteal America and the South Pavific will close at half-past ten o’ctock in the morning. Tus New YORK HBRALD—Edition for the Paciilo— wiil be ready at haif-past nine in the morning. ° ma ~ copies, in wrappers for matting, six cen’ MARRIAGES ANO DEATHS. ‘upon fact. Such m: Oussn~QuBmmaM. oe we 2 residence of the | bride’a parents, by the Rev. A. K. Sanford, ‘A, Baxyens Caaas, of New York, to Jessia HagLow, younga*t daughter of J. W. Burdham, £44., of Brookiyn. Look woop—Moy& 8003E.—On Wednesday, July 1, atSt. Peter’s church, Peekskill, by the Rev. Mr Rod- man, GrorGeE W. woop, Jr., of New York, ta only daugliter ds tie late T. A. Monkhouse. Cl San Francisco and Bristo? (England) papers please copy. Wisse —Gteadh.—On Tuesday evening, July 7, a@ eight o'clock, at the residence Of the bride, by the Rev. Dr. Scots, THomas H. MILLfg to Lucy T. Grim SON, all of this city. Noe—Manogis,—On Wednesday, July 8, at the residence of the bride's parents, by the Rev. Johm Dowling, D. D., James Hop Je, of this city, ta Karte, eldest daughter of John F, W. Mangels, B4q., Of Jersey City. No cards. Rounbs—CoRNWRLL.—On Wiasemen a! the Church of the Messiah, the Rev. é Wt tor. her, of St. James’, Hunry e. UNDS to ADA, eldeat daughter of Samuel H. Cornwall, all of Brooklyn. THALL—BROWNELL.—On Mot June 20, at ine Fesidence of the bride's parents, len Bae Line Rev. Charles Mallory, RichARD THALL, of or een Cc, BROWNELL, of Gin § Cove, frie ied) BROW an .—On Wi odtiestay, an 8, = the residence of the bride's tater b the iimen- dorf, D.v., G. W. YRRES to Mi ADDIE a eldest daughter of G. W. Benjamin, Esgq,, ali of Albany, N.Y, ——e Died. AcTon.—On Tuesday night, July 7, after a short illness, ExtzaBeTH, widow of-Jolin W. Acton, aged oe rel relatives and friends of the family are r te fully invited to attend the funera!, nn the Tees dence of her son, Thomas C. Acton, No. 108 East Zypontersiehet, street, on Friday morning, at nine o'clock. Bravvett.—At Harlem, on Wednesday, July 8, Hakeiet T. BLAUVELT, daughter of tue late John I. Morris, 1n the 52d year of her age. Funeral will take place from her late residence, Second avenue, corner 116th street, on Friday after- noon, at one o'clock. BLAUVELT.—In Brooklyn, on Wednesday morning, July 8, ts SopHIE, Only child of George W. ai roe + Blauvelt, aged 1 year, 7 months and 24 ectfully invited ta . day “tne friends of the family are rea} attend the funeral this (Thursday) afternoon, at three o'ciock, from the residence of the child's parents, 107 Union street, South Brooklyn. BowKER.—At Yonkers, on Tuesday evening, July 7, after @ lingering illnesa, Mary Ema, wife of GQus- tavus G. Bowker, Jr., in the 24th year of her nge. The friends and relattves of the family are respect- fully invited to attend the funeral, on Friday morn. ing, at ten o'clock, from the residence of her mot her, Mrs. Lydia A. Pancoast, Clinton street, near Prospect, Yonkers, Westchester county, N. Y Baltimore papers | please copy. Borp.—At Taylor's Hotel, Jersey City, on Tuesday age ha July 7, after a short but severe illness, Katt J. Boyb. The funeral services will be held at the residence of her aunt, Mrs. Edward Mathews, No, 260 West Thirty-1 -fourth street, on Friday morning, at ten o'clock. ‘The remains will be taken to Paterson, N. J., for interment. BYRNE.—GEORGE BYRNE, in the 57th year af his ago. ‘The relatives and friends of the family are kindly invited to attend the funeral, from his late residence, It pocreret street, this (Thursday) afternoon, at twe o'clock. CacosR.—Suddenly, by accident‘ on Monday even- ing, duly 6, Hon. PeTgR CAGGER. he funeral will take piace from his late residence, in Afbany, on Friday morning, at ten o'clock. CorpDRAY.—On Tuesday, July 7, after a long aud tedious illness, JAMES A. CORDRAY. The relatives and friends of the famt\y are reapect- fully invited to attend the funeral, on Friday after. ane at two o'clock, from the residence of his sister, rs. £, G. H. Kissam, in Fulton street, uear Grand, rane LI. Corr,—On Wednesday morning, July 8, after a pre- tracted illness, GURDON 3. Corr. The relatives and friends are requested to-attend the funeral, from his late residence, 124 East Fifty- eighth street, four doors west of Lexington avenue, on Friday afternoon, at one o'clock. Casky.—On Tuesday, July 7, Joun, the eldest son of Patrick and Ann Casey, ‘aged 19 years. ‘The friends and relatives of the family ave re- quested to attend the funeral, from the residence of his parents, 456 West Twenty-seventh street, this (Thursday) afternoon, at half-past one o'clock. Day.—Suddenly, at Greenpoint, on Monday, Juiy 6, JOHN J. Day, tn'the 36th year of his is age. ‘The relatives and friends of the family, also those of George W. Avereil end family and the members oF Seawanhaka Lodge, No. 678, F. and A. M., and Greens point division 8. of T., are respectfully invited to at tend the funeral, this rsday) afternoon, at twe o'clock, at the Church of the Ascension, Gi L, 1. ‘The remains will be taken to Gréenwoot and buried with Masonic honors. Daty.—On Pato July 7, of consumption, Joun DaLy, a native of Killeagh, county Cork, Leeland, aged 41 years, ‘The relatives and friends of the famity are re spectfully invited to attend the rmnerai, from his late reaxlence, 237 Tenth ave., this (fuursday) afternoon, at two o'clock. Esrex.—On Monday, June 20, Mary L. Earer, aud op Wednesday, July 3, JENNIE K., twin sisters, tn- fant daughters of Edward B. and Mary J. Ester. Funeral services at oue o'clock this (Thursday) af ternoon, at the residence of thelr grandparents, 72 Second avenue. ELLI.—On genre Jaly 7, Evizaberta ELLs, wife of C, C, Ellis, aged 66 years. The reiatives aud friends of the family are reapect- fully invited to attend the funeral,this (Thursday) af. ternoon, at one o'clock, from her late residence, 404 —_— avenue. Her remains will be taken to Greea. wood, ‘3LIN.—In Brooklyn, on Weduesday, July 8, from the result of fractured Skull on the 14h. February last, at Orange, N. J., CLAUDINE ALBXLNA, daughtet of Gottiob aud Charlotte N. Enslin, and grand-daugh- ter of Mrs. Jane H. Megurey, born February 25, 1868. Funcral from the residence of Mr. Thomas H. Nor- ris, southeast corner of Washington and Greene phone 5 Brookiyn, ou Saturday afternoon, at three o'clock. FALVEY. ae ‘Tuesday, July 7, Timornuy Paver, aged yoery Tue irleads and relatives are respectfully Paane to attend the funeral, from his late residen Rector street, unis (Thursday) afterngon, Px —At Hoboken, N. J.,on Tuesday, July %, ugiter of the late Julian Favre. ‘The relatives and friends are invited to attend the funeral, this (Thursday) afternoon, at two o'clock, from tie residence of her brother-in-law, W. Jeau- nent, 60 Hudson strect, Hoboken. Foust ANN.—At Relchenhall, Bavaria, on Monday, June 22, at two P.M, RICHARD Foust ann, late of the arm of Forstmann & Co. Hopes,—Suddenly, on Sunday, July 5, Pranow B. pee one aged 40 years. —At New Brunswick, N. J., Bh mecntey July 4 Thewareeta &., wile of John B. Hull, HOLATIAN. —On Tuoaday, July 7, at her rietivhes 633 Second avenue, MARY LAAN, the beloved wife of Thomas lioahan, aged 40 y' A fojema mg of requiem will ve Ne. offered for the repose of her soul St. Gabriel's church, Kast ‘Thirty-seventh st., this (Thursday) morning, at nine 3 aoe O'clock, and at tivo o'clock the remains be. rey moved to Calvary Cemetery. Her relatives and friends and the friends of © brothers (Peter and James Golden), and of her brother-in-law (| Wise), are invited to atteud the funeral, from church, Ba JacovToT.—At Cranford, N. J., on MANi# LOvis# HELune, dangtior of Alfred ‘The funeral will take piace from the cuendeege 02 her father this at ten o'clock. (Thu ) Trains leave the {foot ‘of Liberty at seven and eight A. M. Lg Tuesday, July 7, PATRICK KIERNAN, ‘tne relatives and frends of the fi and those from this ‘arbre Lron.—On , duly Mane dai lotice of funeral will be given berenfter. Tenis Brooklyn, FE. D., on Wednesday afters noon, July 4, after a lingering illmess,, BENJAMIN Las, 5r., in hia 70(b year. ‘The funeral wit! take place from his late residence, 172 Leonard street, on Sunday afternoon, at two o'clock. ‘The friends and acqualntauces ure respect- fully invited to attend without tursuer notice. icGowaN.—On Tuesday ev wine. RAE 1 Bet HENRY, infant son of John and Mary McGowan, aged 5 months and io The relatives Irtends of the family are res fully invited coe attend the fynerst from the residence of his parents, No. 2ou West Thirty-second street, this (Thursday) afternooa, at t a Rey Noor —On Wednesday, sat 46 Ls Broad. Way, SARAM JANE Noort, beige daughter ‘Faunie Root, aged T year, 1 month and 2 days. SNOW. 8 Mary K., wise ( ® therelatives and men is of the family are reapeo- tively invited = attend the funeral, from the reat. dence of her father, O. H. Shipman, Clinton ayenue, Brooklyn, this (Thursday) afternoon, at three o/clock. SLaTER.—O8 bed og July 8, —_ a Itugering: itgens, JoseruIne M., wile of W. Slater hter of John O. Lwh ie friends and relatives are fr ctfully invited fo attend eS oe ae e ree ence, 230 Bast Twensy-! street, this (Thursday) afternoon, at i The remains will be takeu to Cypress Ells. TEP AU r1pING.—On Wednesday, July 8, of cholera in- fantum, a? Le gh et a or A. 3. and nd Saran pau! aged 7 Telatives and friends of the. Tsantiy are respect. rally ovited to attend the funeral, from the parenta’ resiftence, 352 Kighth avenue, this i morn. inrg, at nine o’clock. The ag will be taken ta Srout.—On Wednesday, Jul sate. @ short tll. name, James D. Srovt, aged 84 years, 11 months and 16 days. aiiaeiaives and friends are Lda AY $0 sipena from residence, East ten dik t, between end Fourth venmen ou merioon, atone say 5, THomas Sweeny, in we ath year ol his a, roe were Ii rete err a Cometery. donee soot hia fa hia father, Dr. Frmnarerenng dune A 4 avenue, JOHN whem Wate, aac ‘The friends af fuily i pay sams