The New York Herald Newspaper, October 16, 1868, Page 8

8 FINANCIAL AND COMMERCIAL. Tavesnay, Oct. 15—6 P. M. ‘The gold market has becn without any decided feature to-day, the fuctuations having been Umited | Erie to % per cent—namely, from 127% to 13834, with the losing transactions prior to the adjournment of the board at three o'ciock at 138, against 157% at the opening. Following this there was no material ehange, and the latest quotation on the street was 137% @ 138. The borrowing demand for coin was ac- tive, and joaus were made at 5-42, 3-16, %, 7-32, %, 964, 7-64, 5-64, 1-64, 1-16 and 1-32 per cent per @iow, and two per cent per annum for borrowing. ‘The volume of business was large, but less than that of yesterday, owing to diminished excitement. The grom clearings amounted to $150,486,000, the gold Dalances to $1,877,897 and the currency balances to $3,102,891. The Sub-Treasury disbursed ¢6,874 in oon in payment of interest on the public debt. The Treasury soll another $390,000 in coin, the bids for which aggregated $4,200,000, against $3,330,000 yesterday, whue the price offered ranged from 196% to 137 88-100, The Natlonal @urrency Bank was awarded $260,000, and Messrs. Turner Bros. $60,090 at 137 88-100. ‘The ad- vanced rates of foreign exchange had a tendency to @iscourage operations for a fall, and the rather high Fates Of interest paid for the use of coin operated in the same direction. The tide of speculation in favor of the bears therefore received a check; but brokers were busy in making quick turns fora rise and & fll alternately, and the bears were niore disposed to cover their “shorts” than to exiend them The Price varied at intervals as follows:— 10:15 A. M. 1a. The effect of the recent republican successes was further apparent during the day in the increased de- Mand for United States stocks for investment and the steadily upward course of prices. But to all ap- Pevrances this is only the commencement of & fresh popular movement, which will ultimately @arry them higher than they have ever been before, both at home and abroad. On the Stock Exchange there was a strong and ac- tive market for State bonds and railway shares, Erie, in particular, rose to 50%, but later in the day 1s declined to 48+; without any apparent cause, The fall brought in fresh buyers, and at the close 45\ was bid for large amounts, the indications being that the party that promoted the advance also caused the decline, and that their object now is to cause a rapid movement against the “shorts,” thereby forcing many of them to cover their contracts. Since the opening of the transfer books a very large amount of this stock has been transferred to the names of foreign houses preparatory to shipment. The rumor that more new stock isto be issued is officially de- nied, and doubtless had its origin among the bears, for the company can only issue such in exchange for seven per cent convertible bonds, and no one would convert bonds into stock within thirty per cent of the present price of the latter, Money was in good supply to first class borrowers among private Jenders at six per cent, but the banks and trust ‘companies continue to ask seven. There is no per- ceptible drain of currency westward or southward, and the full effect.of the Western demand to move the crops has probably been felt, so that no further disturbance of the money market at this centre is Probable. All talk of a fresh attempt to make Money artificially scarce may be accepted as ‘without foundation in fact. and designed merely to excite apprehensions in the market for government Securities and the speculative stocks, and so to de- press prices. After their last fruitless effort the bears are not likely to renew the attempt, for tt could ‘Bot fail to eventuate in a similar flasco. The ary goods auction sales were rather thinly attended to- @ay, and the bidding was less spirited than earlier m the week. Except for heavy woollen goods prices ‘Were somewhat less satisfactory than yesterday, but ‘the former were firm and in demand. Government securities have been very strong and active aliday, and the investment demand has been much heavier than it was yesterday, the orders to purchase coming by telegraph from all parts of the eountry. The city savings banks were also buyers. ‘The supply of bonds in the street is smaller than usual, and there is @ good borrowing demand for Shem from the “shorts.” The heaviest transactions ‘Were in the five-twenties of 1867, which, allowing for ‘the accrued interest, are still two per cent lower than they were before the Democratic Convention met. The Assistant Treasurer here has given assu- ances to some of the principal dealers that he will mot be a selier of bonds, his currency balance being sumMciently large to enable him to dispense ‘with such sales, Prices at the close were a fraction Delow the highest point of the day in some instances; but the market was strong at the following quota - Wons, and there were no bonds offering:—Regis- tered, 188i, 114 a 1144, coupon, 1154 @ 115%; 620s, registered, 105% a@ 106; do., coupon, 1862, 1135; @ 113%; do., 1864, 1114 a 111%; do., 1865, 111% & LILK, do., NeW, 1865 109% @ 110; do., 1867, L097 a 10; do., 1868, 110% @ 111; 10-40's, registered, 1045 a 104; do., coupon, 10555 a 105%. At the commencement of business the stock mar- Ket was active and strong, and at the carly session of the open bourd Erie advanced to 49%, Rock Isiand 105\4 and Pacific Mau 126, Afterwards Erie sold up to 60%, but at the first regular board it reacted to 49%, although the general market was strong and very sctive, especially for the State stocks, Tennessee sixes showing an alvance of 17%, new issue 3, North Caroiina #ixes 1% aud new issue 7,. Government securities were buoyant at an advance of 3 a % per cent, On theeall New York Central closed 14; higher than ai the same time yesterday, Erie 1%, Reading $s. Michigan Sontnern \, Cleveland and vittsburg 1%, Cleveland and Toledo 4, Rock Island 14%, North- western 1, Fort Wayne 1%, Milwaukee and St Paul %, preferred 2, Ohio and Mississippi 2%, Western Union Telegraph 4 and Mariposa preferred 3, while Northwestern preferred was \ lower and Quicksil- ver 1%. At the open board at one o'clock Erie soid down to # whiie New York Central was steady 120), and other stocks were At the at Slightly lower than at the previous board, gocond regular board the market was active but somewhat drooping, and New York Central closed liower on the call than atthe first regular board; Erie %, Reading %, Cleveland and Pittsburg %, Cleveland and Toledo 4,, Rock Island 44, Northwest- ern preferred 4, Fort Wayne %, Ohio and Missts- Western Union Telegraph ¥, Tennessee w issue, ';, and North Carolina sixes \, Michigan Southern was \¢ higher. Mariposa trustee ten per cent certificates were in active de- Mand at 6s), Government securities were strong @tu further advance of \ @ j percent, After the @ali Erie broke to 48% 448, but at the open board St bulf-past threo the sules were ai 485; 248%, While Fort Wayne was active and advanced to 113%. Rock Island sold at 107%, Nortow 6%, preferred #6, und Pacific Mail 1264. uring the remainder of the afternoon there was considerable activity in tue ue, and Erie at one time recovered to 48%. At (he close at six o'clock the following quota- Hons were current, the market being at the time strong:—Pacific Mail, 127 @ 127%; Western Union, 37 a; New York Central, 12835 &@ 125%; Erie, « A 487; Reading, 07), 9.07%; Michigan Southern, 8454 a 88%; Pittsburg, 00% a 90%; Rock Isiand, 10%)5 a 108%; Northwestern, 96% a 96%; do. Preierre « 8 96%; Fort Wayne, 114% @ 114%; Ohio and Mississippi, 2 \yy a S14; Mariposa preferred, rison of the prices of the leading snd speculative stocks current at the frst reguiar board yesterday and at the same time lust year shows the following changes:— Oct. 14, 187. Oot. 14, 188. New York Central.. 128% feuding. ....+..« M n Souther 14 Pittaburg nd and Tolede ANd... 6.6 11% etd. BT peso 102% 126 The foreign exchange market was lesa firm than yoxlerduy, but the leading drawers ask 109% for their 16% #lerling at aixty days. The supply of commercint Bos. Bilis is very limited, and there ts a moderate de- “4 ” ‘angelica. mond both from importers and to cover ‘“#borta Grape brandy. At the clone bankers’ bilison England, at sixty days, | 7) sndindihia m were quotedat 109% & 100%; at three days, 101% a | yO, +4 Spartiieg Angeilea..... “ 3104; commercial bills, 108) #100); bankera’ bitit Ze 2) Tiitnote Gen it a ER Ee on Vorit, at Bixty Gaya, 6.16% a 5.16. eed averng wha, - pee ; Console abd American securities were quoted thus | kw ware, quarts au in London to-day and on the previous dates men a 1. 5 1. Consois. os bart beat Five-twent 4 ” “4 124 Iinols Central. a 9635 96. sees a2 83: We have received from Mr. Camp, the manager of the Clearing House, the subjoined statement of the condition of the banks of this city for the quarter ending on the 5th inst., to which is appended a com- Parison of the same with the return for the previous &5 « J THURSDAY, Oct. 15—6 P. M. Corrrr.—Rio was in moderate demand and steady at former prices. There were sales of 500 bagsex West Indian, ‘end in Baltimore 2,000 bags ex Cricket at 113gc. a 12c., gold, in bond. Other kinds remained quiet. Corron,—Receipts, 7,822 bales, The market for this staple ‘was fatrly active, the demand being good from all sources, but prices were ic. a 3¢c. per pound lower ; at the close, how- ever, the market was quite steady at the reduction. The sales were 3,406 bales, of which 1.77% ware taken by spinners, 1, exporters an by speculators. We om sine "4 Uplande and Mobile ea a. O, and B Meme his, ie Se ee eA | Good orinais ae Totale........,-%$869,850,498 ©888,429,280 Dec..829,076,762 | Low middling. 43g 35 pisrg The return of the Bank of England for the week | Yiiq misting ‘ee 3 ns ending September 30 shows the following totals and FLOUR AND t8, 26,980 bis. flour, 490 do. ip ‘meai, 149,126 bushels wheat ‘do, corn, 13,000.43. malt nnd R950 toe Tene ‘The flout changes from the return of the previous week :— Teo do ee : market ruled Public deposite Ser TI” Dec,. £8,488 | Riana Yor extra, Slate for export, skipper BIG’ Sf, bat tals Other deposits, iiresh117 Dees, 465,063 | Was below the views of sellers by about 2c. per bbi., though “ On the other side of the account :— eo Tyo ” C a8 we aaale bul £6 r changes Otter seemriaaee ee berate ia oreo wale natdaeeds ies anlacenee <a Ren en ate ae Notes unemployed. 10,505,805 Inc.. 691,680 | quiet and scarcely so firm, the sales being 860 bbis. Corn ‘The amount of notes in circulation is £24,391,270, ieatot aban 60 a at gb Lor "ara ears, 8 40 4 being @ decrease of £820,925; and the stock of bul- = No, ™Stat r % ion in both departments is £21,001,136, showing an Supertin * ene 700 Increase of £36,296 when compared with the preced- | [xtra Stat Tis 800 Tholce do..-.+-+» 82a 900 ing return. The increase of bullion would have been fapertae Western se a 4 oo jarger but for the withdrawal of coin for government | Round hoop Obio, shipping branda: tibe. 850 and other payments at the end of the quarter. ee Boop. Obio, trade brands. Het iy i The following are the totals of the statement re- Bt Hive straight ; wie FA Low! oice double 2 5 ferred to and those of that for the corresponding st Tecinehoienieie a 18.50 215 00 week last year:— Southern choter and family. 18 00 w 14 50 1867. 263, South extra, 7.500 1200 £24,404, 115 £21,001,136 | Cail’ ad 9.00 w 12 50 ad get 4,877,015 24,391,270 | 6, os W006 Rate of discount.. Qpercent — 2percent | Gorn teat. Jerse en ee Pcp 945 Bag ~-Wheat wee fairly a go ‘and the betier tate of spring ench ren a Ne 69.5 were more freely takeh for export at er figures. be hee PY.90 | anlen were about 100,000 bushels at 162 x81 601g for in‘e- A Chicago journal of Monday thus refers to nicr- cantile and monetary affairs in that city:— The week closes with a rather quiet business in all departments or trade. The good merchats have done a fair business in the amount of goods gold, but remittances from their country debtors have not in general come up to their expectations. A consid- erable acreage in the amount of Eastern bills falling due ts aiso shown by the increased counter demand for Eastern exchange, and altogether circumstances have conspired to make them increase their applica- tions for bank accommodations. Grain operators have also been liberal applicants for money, but as far as the grain, which counts up the most rapidly in value is concerned—viz., wheat —it has been more for the purpose of holding here than to pay for car- goes taken lor shipment. ides the increased de- mand for money created by these circumstances rior to choles No. 2 Chicago sprinj Milwaukee; $1 78a 1 80 for No. white Michizan; $2 13 a 82 14 and $2 75 for new California, and $151 = spring. Corn was dull lower. ies_were about 135,000 bushels, at ‘a BL 17 for now mixed; $1 12 wan bid for old do. afloat, and #1 13.0 BL 154g for unsound. Onts were dull and heavy. The sales wore about 75,00) bushels Western, at 78340. a 74ivc, Rye was steady, with sales of grnali lots at #1 Gila $1 62." Burley was steady, with salesof 35,000 bushels at 82 20a #2 40 for State, and Canada East on rivate terms. Barley malt was quiet but firm. A small lot ronght 2 3734. Peas were steady. About 35,000 bushels sold yesterday on private terms. FREIGHTS were rather more active and rates were much higher. " The engagements were :—To Liverpoo!, 100 lunds. tal- low at %s., and, per steamer, 22,600 bushels corn at 7!¢d., and 7,500 do, wheat’ at ®d., closing at abont the latter rate. To London, 400 bbls, flour at 2s, 7'4d., 250 do. naphtha at és. The charters wero :_-A Russian abip, with about 5,090 bbls. petro. leum from Philadelphia to. Cork for orders ‘and the United Kingdom, at 6a.; if to the Continent 6. 6d. and 6d. off if di- $1 63 for No.3 g Ss there is @ large and sppemenny, increastng amount | rect. A British ship (now in a near by port), 4,500 bbis. pe- of real estate Large and many other Kinds of in- | troleum, same voyage at the same rat ‘A Norwegian bark, debtedness which, though amply secured, is not | 1,700 bbia, to Bilboa, Spain, at 6a. 6d. A bark, considered strictly “business” or “merchant” paper, | 2209 bbls. pet to a cirect port'on the Continent be- at 6s," Eight vossels, from St. Much of this is being offered at the banks, and some | wpe? Marre and Hamburg, Johnsto Cuba, sugar shoo! K 308. “An American bark, is taken, but in most cases, the banks having pack- | 3.800 bbis. petrol fro! re ot oe shia. to Gibraltar for ore ing season about to open before them, are declining | dors, with the privilove of the Adriatic, and British bark, 10 to do much in that line. the River Plate, 200,000 feet lumber, rivate terms. NNIT8.—Bage were dal! at 1 19ic., while cloth Annexed are the last three statements of the con- A Zl was also dull, but si Hors.— American ly, at 21 gc. a, jontinued in fair request and prices dition of the Boston banks:— ‘Sept. 28, Oct. 5. Oct. 12, | were steady at the following quotations:—Prime to choice Loans. $101,031,744 $90,662,844 $100,875,370 | STAdee, Mc. Be. ; jnfertor to good do., I2c. @ I8c.; foreign Specie. 729 618,42 589, HAY.—The market was moderately active at former prices, tet 14,032,447 13,923,394 13,652,518 | viz:—Shipping, 6c. a 70c.; retail lots, 90c. a $125; long rye Deposits . 30,127,650 89,215,483 841,655 | straw, 0c. ; short do., Wc. » 75c. Circulation 25,160,081 26,143,617 25,281,402 | Hate. All Kinds wore dull Ut unchanged in value. We old ; jut The gross revenue of the United Kingdom in the SitoLatarn, The'man et continued to ale quiet, but pre. ears tem vious or jes wore demanded. We quote:—Cuba yours ending: September 20, i907 end'1008 is thus centrifugal and maxed, 7c. a 4. 4c. w 420. ; mus shown:— vad, refini ‘a 48c.; do. grocery grades, Ine. Dee. | 5i5c.;’ Porto Rico, ‘3 70c.; English Islands, 42c. 2 £898,000 . | Stock October 18, 1868: bhds, Cubas, 2814 do. Porto — £459,000 | Rico and 1,817 do. English Ystands. — 859/000 } | Navar Storgs.—Receipts, 50 bbls, spirits turpentine, 150 — 18,000 | do. rosin and 850 do. tar. For the former the market was 1,585,000 — | quiet, but holders were firm, demanding 443gc. for merchant- pa able antl 450. a 45}¢c. for shipping lots. Sales {i bbis, at 4c. a 15,000 4460. ; 45c. was refased for a lot of 500 bbls. in shipping order. a = te | Erectus tenes tape art dee —— fo. No. Lai an 0. Totale........£70,307,062 409,470,471 £1,609,000 No.9 at $2.70. #2 90, We quote strained, ‘® $2.60; No. Not increase. Sap espa te is 2, $2.70 a 82 90; No. 1, 83 a 4 50; pale, #4 75 a G5 75; extra The receipts for customs and the receipts, pay- | $0, 35,8 #700 Tar wus # at $5 60 @ 84 for Wil- ments and balances at the Sub-Treasury in this city | | O1Ls—"Linseed was dull and lower. Crashers’ prices were for the expired portion of the week have been as woeie rain caries Wtanh mecha eae follows:— Om CaKE.—There were sales of 60 tons Western at Custom House, ————-Sub-Treasury.———, | 82 50. PRovVIaIoNs.—Receipts, 10 bbls. pork. There was but little activity in the pork market to-day and prices were heavy and lower, closing at about §28 80 a $388 for new mess. The sales were 1,200 bble., at #23 85 a 29 Oct. 12... $8077 $290N78 SSIS ISI $05-404404 "662,140 8,231,930 4685 | 84, Oct. 13... 652, i 633, 94,162,611 ‘were : a for new mess, the Oct 14.1. 276.357 T,24do48 "410,708 94986, 851 | Taster price for amall iota; #29 6 ‘for extra primo, and a8 2 ck 1::: Shoo Heald nanhide Sauna | a allrpine pee dare etsreea yar fent™ at The highest prices of the leading stocks, including | was in fair demand and sales were made of 25) bbia., at I government securities, at the regular board on each | %, 81%, for, plaim mess and, $10 50 0 $33 for cates of the last four Saturdays were as subjoined:— nai. Beef hams were quiet, but steady, at $35 a Sept. 19, Sept. 26. Oct. 3. Oct.10 | $33 for old and $29 a Bi3fornew. Cut meats were firm, but New York Central... 130% 20% 1286 niet, to the paucity of supplies; we. ages pickled Erie. ~ 4% Be ABE Jase. ; dry salted do.. 12%¢c. a iokled Reading . 2 92 cyan 4 do., 19¢, a Mie. ; do., 16c, « Michigan Southern.. 85% 84% 849 bn sce tee eerie ealea’100 Cleveland and Pitts.. 873¢ 86 86 8834 | boxes at these prices, The transactions in lard were light and Cleveland and Toledo 102% = — 101% 104 rices were @ trifle lower; the sales were coniined to about Rock Isiand. 103: 102% 103% = :108% ackages, at ITic.a Ielye. for No.1 to prime steam and Northwestern - 90% 8934 8836 DOIG | Iie. a 19%¢c for ket whinge Northwestern pref'd. 9134 ROIG ‘ia aah a napkin th Fort Wayne... . lo 109% quiet and easfer, closing at Ohio and Mississippl. We Iée. Refined was in r Pacific Mali.......... 113%; ML steady, the market closing nt 29. The sales were 1,700 bbla, Western Union Tel... BA standard white at 29c.; 1,000 do. do., for the first half of No- 5-20 coupon, 1862... na vember, at 20¥ic-. ‘and i.00 do., from October, to December & Insts: une oy GAR mee ee ies kabie cae tees ceaeas 108% lower prices, standard white on the spot selling aa low as 109% 108% — | Be. Fat cloning at 2c. Sales 3000 bbls. at 2Tize. m Be, Josig 104% 10534 | Lido, at 28%c,, and 1,500 do., from October to ber (600 each month), at 2834c. A curious calculation ts published by a M. Hauche- corne, as to the comparative proportion to the re- ceipts of the working expenses of the raliways of Europe in 1865. M. Hauchecorne states the propor- tion as follows:—Austrian, 88.8 per cent; Prussian, per cent; French, 40.7 per cent; Netherlands, Danish, 47.1 per cent; German States, percent; Englisn, 47.0 per cent; Spanish, 55.0 per cent; Portuguese, 65.1 per cent; Russian, 69.4 RICE was quiet and unchanged, at@e. a 93¢c. for Carolina and 8ic. a 9. for Rangoon. FDB.—Linseed was in some demand. Sales 9,000 bags an ex Molbreck at $2 18, gold. Grasg were dull at our last auotations. SUGAR.—The market for raw was quiet, but prices were steady at our quotations annexed. Sales $79 hhds., at Le. = 11%e. for Cuba and 11 1840. for Porto Rico; also 73 bores at 10%c. a Iie. Refined was in movterate demand, at 1 5s,e. for hard and 14%4e. « Ibe. for sort white. We percent; Mahan, 60.7 per cent, and Swedish, 50.3 Fe gs iY ee « og ite a - Ph 9 ue tart \ ag fe Ce irr 42 i iouere e 7 se IDSye. 1 ( an ren, oem SALES AT THE KEW YORK STOCK EXCUANIE, Tou! aslamven iva nnd bile), tne. wilsge.s melado, 7¢cs Thursday, Oct. 15—10:15 A, ee Pag miles vay de A Tiige. sided Oetse ay, (et. MM. & ule, O14 ; hy ‘ P > 15, 1868 :~-50,147 hlids., 81,801 boxes and 44,529 bags. #1000 US H9,6.20,c,"82.. 113% G00 sha Mariposa pref... 24 SYRARINE was quiet; the sales were. 1 bbia., at 203¢0. aoe aon tie pe. 24% | a Sie., chiefly at the Inride price, 309 Toe US a B80, gs .. T0 ; TALLOW was only inmoderaie demand and weak. The 2000 UB BAW"s, c, BHun. 108; ao. ; p dome ny aalen were abont 35,000 Ths at 12 4c. 8 135400 1 oe tt a0 re oe pemen Wee © Wutsxky. Recelpts, 404 bbla. ‘The tarket continued to 10000 ‘ my A rule dull and prices were nominal at $1 2249 a $1 25, free. ‘ do... 0 1500 US B's, 10-40, cou... 1054 100 Wells-Fargo Ex. 1000) US 6's, Pac ‘RR ine i‘ B00 1000 U 8 6-20, c,°67. ¥ THE WINE MARKET. do. He 300 Merchants'Usion Ex 10 do. “ RRA ‘40°, | But few transactions of importance have taken place dur- Ah | ns the past week. ‘The demand for Scotch whiskeys and St. 109 do. 600 ‘ford | Crotx nnd Jamaica rums is steadily increasing. The market 100 Rrie RR pref....... 70.” | for domestic whiskey bas been quiet. io aon oo erie a ‘The following are the latest prices current; foreign articles ) dd. @77t | are quoted in gold :— 12 €. ©, Ci : 9 Gag age of ‘3g 200 Mich So &Nind RR 87% Cognar Branties, i ‘1838. S00 do. vee ce 803q | 3. &Y. Martel... #70 96 BD Siig | James Hennessy & Co 7% Ditto, importation 1808, = 7s $°¢ | Otard, Dupuy & Co. 6% = 6% % 91 * | Ditto, importation i ns be 6% | Renault J an 21) eB 1 rowers’ Company. = 6% 2 Big 7" | Pinet Castillon & Ca - 6 40 8, way | Thomas Hine & 56 = «6 » 68 1043g | Sazerac, De Forge & Fil : 635 or 11s | Marett ¢ Co. a 6m ia i rt Freres. 7% as i E. Vignier, - 6 & 103%¢ | J.D. Castillo a Cc ta = 70 7 i 10S | "ROCHELLE Buarnine.—Pellevoleen, $490 a $5 10 per GON gyilon; A. Selgneite, $4 90 « 85. Hiveri Peliproisen, 3 1000 NY Central 6s, *83 95 104 ;_ Alexander Seljnette, $4 90 0 85; A. Rastenn, 34 90 $0 Alton & Ter _* ‘05; Araac Seignette, #490 9 $5; Hope Seignatie, Sa ANWeeb.... % 9%; Lafayette, 84 90 0 95, 36 ‘The following quotations are for 1 pipes (foreign ap. 7) fre, quoted in gold): Rottenboln's Paimatrar, 98 89; aig af 0; Swallow, 8.9; Telegraph, A338; Olive os 84.95; Tr al Cabiiet, Pommet, it 98: Engine, % my Amill, $8 99; Boo! ardial, #8 i Tanqueray os 10; "Meader's Swan, $5 87}, currency; Grape if ti amnion 6 ion; St, Croix, #8 70 a + gallon 1. ny 2 ey eee gallon; Irish, 84 50. i feote a lon 5 09 do. ae Inbont in New York: Kentucky, 8135 ¢'83 ti; toergt 8 ry 25 N J Central 199" | SE Highwrings, 1 Ub; alcono, free, 92 70; pure epirits, doy 600 Pitts, FtW & Chi RE. 118 1 fake: pure@oirte, French, do. 8Y 6, ‘do. WyNts.—Pott, 42.35 8 #8 per gallon Burgundy port, Se. & erry, erry, Mareeill "a We. j a. #4 8 810; ra, Marseilies, 750. 0 Mal 0.0 8 St Os Balas Oy, ee 12 hbds., ; claret, canes #300» 830, CHAMPAGNE.—-The following quotations are for quarts, without the usual discount: Piyer Heidnaick, #2); veure 100 Quickstiver Mg Co... Cliquot, £25 60; 8. H, Mumm & Co., #200 #94; L. Roederer, 0 Pacific MAS Co... 9 825); Mumm & Co,, $2) 0 #24; Hel dasick & Co., 40... 000 eal 19 60 n BIA; Charier Heldeeick, $20; St. Marceaus, 82) ® = ;, Due de Montebello, #20; Giesler & Co., #20 = B94; Del- monico, #3} | Charios Farre, #18 8 $23; Napoleon Cabin BU: Moet & Chandon, $20 a $24 60; Ruiart, pere et fils, Bruch fila & Co, roucher & Co. ” #18 8 #99; Bruch, $21 «BM; other champagnes, 8 ds. AMERIOAN WINTS, ‘The demand for native wines and spirite ie largely on the increase. Accounts from Ohio speak favorably of the crop. A recent arrival from California reports that the erap of Los Angelos county fs mupertor to that of any previous year, the grapes being larger aud of better quality than any hereto raised tn that {1 have MOO EO sans pleed 10 tha red section. Competent judges nO 18a, Bais Fd, ery that there is @ roarked my | Iso Usenet, ° Snontin the mbvufecture of native wines, and @ erillicat re" ture is predicted for this trade. ANABRIM WINE GROWERS’ VINTAORS, CALIFORNIA. “ Cine NEW YORK HERALD, FRIDAY, OCTOBER 16, 1868—TRIPLE SHEET. BEAL ESTATE MAITERS. Another Basy Day at the Exchange—City Property, Improved and Unimpreved— Brooklyn Property—Prespect Park and Fiat- bash—New Jersey Property—Hingsland Manor. It might have been supposed that after the excite- ment of Wednesday consequent upon the great sale of the Dyckman property at the upper western end of the istand that a temporary duiness in the mar- ket would have succeeded, but far from such being the case the activity and speculative energy created by the circumstance of these choice lots being brought under the hammer have but stimulated oper- ations in other real estate, subject to some of the game conditions tending to future appreciation. At the Exchange salesrooms yesterday some first class improved city property was offered for sale by E. H. Ludlow & Co., consisting of a house and lot on Fifth avenue, the house a first class four story brown stone mansion, 26 feet 34 inches front by 75 feet in depth, containing all the modern conveniences, the lot 26.3%;x100; # firat class four story and base- ment high stoop brown stone house on West Twenty- eighth street, 200 feet from Fifth avenue, 25x50, with a two atory extension of 16 feet, and lot 25x98.9; anda lot on the north side of Thirty-fourth street, 80 feet west of Park Fourth, avenue, 25x95, adjoining and belonging to the Church of the Messiah. All of this property sold well, bringing prices in each case amounting te a small fortune. The same auction- eers likewise offered for sale, by order of Stephen Cambpreling, executor of the late C. 0, Oambreling, the elegant suburban establishment, formerly the property of the latter, on Long Island, entitled “Kalmia.” This beautiful country seat is situated two and one-half miles from the village of Hunting- ton, L. L, on @ point of land extend! ~~ into Hunt- ington bay, known as West Neck. it comprises about sixty-three acres of high land, nere seventy feet above high water mark, on one side forming a@ bold cliff of that ay everiooking the bay. The residence is an English cottage of brick, stuccoed, built in @ substantial manner, under the immediate personal supervision of the Jate occupant. It contains a library, drawing room, dining roem, five bedrooms, attic and basement kitchen, There are also a greenhouse and @ grapery the latter stocked), a gardener’s lodge, convenient barns, icehouse, &¢., &c. There is in addition an excellent assortment of fruit bearing trees, some of them having been imported expressly for this estate. About twenty-three acres of the land are covered with a fine rich growth of trees and luxuriant under- growth of kalmias. The remainder is divided into gardens and meadow land. There is a beautiful silver beach, admirably adapted for bathing. The harbor is one of the best on Long Island, large and | agg sheltered, affording superior advantages for yachting. Messrs. Johnson & Miller conducted another one of their large sales of Brookiyn property, comprising some select Prospect Park plots, some of which brought high prices, and some more Flatbush lots, which were sold cheap. The attendance was excel- lent, and the interest well mamtained throughout. Biddiag was lively and spirited, as at former sales of similar property, evidencing rather an increase tn general favor of Brooklyn property as an invest- ment. All of that which was a ‘ised to be sold was put up and rapidly disposed of, One of the consequences of the present excitement in the real estate market is the breaking upof old estates, the division Into small parcels, convenient to purchasers, of acres of land that have for cen- taries belonged to a single owner. Among those which have thus come within the circle of metropoll- tan progress is the Kingsland Manor, a fine old ee of about 600 acres, which has been in the ingsiand iuaily for over 200 years, and which was esterday sold at public auction by A, J. Bleecker, ion & Co., in 500 villa plots. ‘This property is situated one mile south of the Rutherfard station, on the New York and Erie Railroad, lying between the Hacken- sack and Passaic rivers, most of it being clear, e!e- vated, rolling land, from 100 to 160 feet above tide water. It 1s one hour's drive from the city by Pater- sou plank rodd, from Hoboken, or by Newark and Belleville turnpike from Jersey City, and forty min- uies from foot of Chambers street by New York and Erie Railroad, being seven miles from the city. The Midiand railroad, now being built, is proposed torun through this property. When completed it will a it within twenty-five minutes of the city. Half a mile of this road ts already graded. Situated on the highest point of the Manor land is a lake, covering from five to six acres, of spring water. An avenue is now nearly completed to this property from Newark, only four an half miles drive, and application has been made @ charter for a horse to run on this nue. Taking these present and prospective advantages into con- sideration this property is fully equal in its attrac- tious to any of that description which has recentl: been im the market. Particulars of the sale, whici was held on the ground, are given below. Sales of Real Estate Yesterday. NRW YORK PROPERTY—BY E, Hl. LUDLOW AND 00. louse and lot 16 four story brown ston firet ery ya rr Houre and lot 1! ‘story and basement high stoop brown with two story extensto n 16 ft, lot 25198.9. Lilot on the north side of Es (Aid) av, 25x95... BROOKLYN PROPER? 8 Jots, 252100, on Johneo: &t Louis place, each...» . 28 lote, aame size, being the ‘sto vets 45,000 th at, 80 ft w of Park and y 6 lots, same size, on Johason av, between St Louls place and Cincin1 oe each. . wees Siots, name size, in rear of ihe above, four on each Inge, each.....-... — ox cago place, each. 8 lots in rear of above, four on each place, each. Slots adjoining, ea’ 8 lots on Jonson av, more piace, ea... 8 lots on each place, 1 Us lois adjoining, exc 8 lots on Johnson ay, phia place 8 lots on eac 2 lyn places, ea. 16 jotw on each pi Slots on Johnson a laces, Om... 8 lotm in reas, with pri 10 lots on Union at (irregular), between Clason’ and Franklin ava, en... Pers . 11 Jots on Prenient st irre ‘adjoining above, but irregular ft front me hod st i Cnet Po DD lots on st, similar plece, moat fi trregular Jotw on ‘Montgomery ai; 120 ft front, all 1 cop, Pach... a as 2 lots on L6th st, corner 10th av, each 25x100, eact 5 Jota in Sth at, between 6th and 7th ava, each 20x100. a = yg een = aie ava, each £01100. ory brick houwe, 26x on Bergen Hoyt, with ail improvements. ys Slots, all 202100, on Nostrand aven lance, each.......+-+ 5 Jota, all 20x10), adjoining, eact Siots, same size, in Jefferson Franklin place, each...... 5 lots, aame size, io Franilin 5 lota, same aize, In Jefferson 5 lota, same size, in Franklin Blots, same size, act place, each in Jaiferson place, adjoining above, 5 lots, sume size, in Franklin piace, adjolaing, 10 lota, kame size, In Jefferson place, samo corner, each. dehahs dg 4 lot» in Frank! 5 po Nanos 5 lots corner Nostrand av and Washington piace, adjoin- ing, same size, each... a 5 lots corner Bedford road and Waal 202100, except corner which ts 5 lots on Jefferson place, f Jota on Jefferson place, a eeu 750 HUNTINGTON, L. 1. PROPRATY-—DY B. H. LUDLOW AND CO, Country seat, with 60 acres of land at Huntington, L. 1, known as “Kalmia,” the former resideace of the Inte ©. C. Cambreling. 315,090 300 eo 1 piot adjoininy 900 10 plota on Bi ay, by 10 plots on 10 plots on Ist at, each 50x190 ft, enc! 100 10 plots on Ist st, exch 5Ox180 ft, each. 200 1 plots on Int at, each 50x200 ft, each 72 1 plots on Ist at, each 50219) ft, ench. ® 11 plots on 24 at, each 50x261 ft, each n 11 plots on 24 st, each 60x190 ft, each. 0 12 plots on 24 at, each 5OxI55 ft, each. 170 12 iota on 2d at, each 602140 ft, each 105 12 plota on 34 st, each 10x239 ft, each ro 12 plots on 34 at, ench 50x222 ft, each. 106 3 plota on 84 at, each 50x1K6 ft, each. 200 13 plots on 34 Ghee B0x140 ft, each. 100 13 plots on 4th st, eact 155 ft, enc’ 350 14 plots om 6h 6, cnae 140 anc ai ots on enc! eno 18 plots on 4th at, each 60x10 18 enc don Bb i88 an ft. iss 4 plots on Cromwe! 1 8 pa on Cromwell 150 18 plots on Cromwell % 10 plots on Cromwell ay, enc’ 2, 155, 4 plots on Cromwell av, each 50x10), each 160 II plots on 6th et, each B0x212, each. 1b) % plots on, Ath st, each S0x188, each. 1% 6 plote on 105 6 plots on 7th 2 6 plote on 84) 105 6 plots on Beh 25 6 plote on Bt! at 6 plots on 8th id 6 plots on Mth at, sl 6 plots on 9 7 6 pote on 9 | 6 plots on th 8 plota on 10th 50 6 plots on 10th sl, each G0xi12, each... 6 Oficial Transfers of Real Estate Yesterday. ANAPERS IN NEW YORK OTY. ‘248 Rivington M, 16x79....... es . Rivington at, #8, 76 te of Saitoik, 2ix100. Oliver at, #, 142'fto of Bowery, 17.240. fougal at IM ftw of Blescker, 2x160 eal at, 191 fn of Bleccker, 25x100 ry Columbia at, w 8, 252100 6% Baxter wt, 18x105.8 Lerington av, ¥ 8, 60.5 fin ofboth at, 7axd0. x Lexington av, wm 40.5 ft n of Sbth aly 2x7 3,00 A and 119th st, 90x75x80x584100, 10118... 7,000 and 111th at 76.103¢1100. * Blog o N w corner av ‘29th st, San José Railroad eae of their right of way Soe at directed the Western w fae remove thelr poles from rail: 40tb at, road, and that if do not do #0 ‘a certain 52d st, bape fof Lo this I was informed ek pone the lawyers for the plaintif”, it seems the bi yh company 18 having new ene- Tbe mies to contend with, and those Not to be sneezed at. ae gaia iat dae tSanany ar Werk ag, Barnes and for the Avantic and Pacific Tele ork graph Company Cadwalader. .The > mo ment was a3 in cases; it was not ry, Tooth ot, Dut to the potnt: both la ‘are very able men and 183d st,’ Vee The cane mas Mise Sab- mittea, before recel ie 108 5th telegraph i ghey ‘told yom the. decision of the —— 1 have no doubt that, no matter what the Rtn may be, an will ‘be taken 4Hall by the opposite ’ party. is one thing very certain—the Western Union Co! ig not the most popular in part of the world, and I do not believe that any persons except Ehate aisotiy interested will regret their defeat tn this suit, lawyers will keep it alive for some tame, for it is @ fat job; hence something interesting may come out of it yet, and further complications take place. I cannot help devoutly that an ition. The coe of tele graphing is too Menle oe and much of iateresi occurs here is eld the cost 0) sending news des} es i8 BO very much above what it should be, I am surprised that the press o) to gay about this suit, and it ap) to methat they dare not a word against the monopoly that holds them like and compels them to pay its prices for everything in shape of telegraphic matter. They appear tt if one word against the Western uitered their tolls will be and that they will be obliged to roundly for ges 2 to open thelr mouths; hence eir abject silence, If the influential press of tits coast would persistently and strongly urge the con- struction of au op) lon line across the Continent it_ would not be before one would be con, = westerly cor, 97.10x100. ikman st, 6 Ww corner, gapaee Pacific at and Stone av, # w corner, lathuah rond and Jobnacn av, # w corer, 211.21225.i ary structed; they might have to more at firat for Peale, about 1 ac eh taking tis course, but In the end tt wontd be found 8, 20 ftw far cheaper; but they appear to consider only to-day, DeKalb av, $8.2 leaving to-morrow to care for itself. We havea Gates av, # x, 248.9 ft 6 of Lewis start, however, in the new line now working to Sec- iS Kent av, w 8, 431.10 ft 8 Ga Wall ramento, and it remains to be seen if enterprise and bom mi Ot — iy pee pee energy will carry it on until it meets another coming ta BB, 00, 92) 94, 96, 83, 100 to 108 aches, from the East. ‘There is business enough for half Tompkins'av, e &, 20 ft of Willoughby av, 20x100... dozen lines between San Francisco and New York it 19,765. the toils were only low enough to place telegraphy within reach of all, and not confine it as now toa few who use it only when compelled to. By the time the Pacitic Railroad is compieted telegraphing should not be over one-third the present rates be tween San Fraucisco and New York, and it us witt the press of the United States to make it so. 4th ay and Grand st, ne corner, Lots 624, 529, map of Willlamaburg. ‘TEANSFERS IN QUEENS COUNT! ‘Went 4th at, lot 82, 400 ft w of Weat ay, 25: East 7th st, # 8, 150 ft w of East av, 25x100. Bast 7th st, # o, 175 ft w of East ay, 25x10. East 7th at, a 6, 200 ft w of East av, 25x100... LAUREL HILL, Atlantic av and Flushing R R, 0 @ cor, 100x281.8 ... ‘OYSTER BAY. Old country road, # 8, adjolning Powell's, 68% acres. ... 4,000 UNIONVILLE. Lota 141 to 150 and 169 to 178, adjoinin, Unionvilte. TRANSF ci Orange st, J & J Peck prop, 335 ft front MONTOLAIR. Orange av, Wm Jacobus prop, 8 acres... NEWARK. THE NORFOLK COMMERCIAL CONVENTION. Meeting and Permanent Organization of the Body—Its Objects and Proposed Action—~The Cumberland Gap and Bristol Railrond— Europenn Connection by Steam to be Esinb- Bowery and Scha!! Boyd and Kinney oor, SIM lished—Report of General Mahone. Camden st, @ 8 of ‘est Ban! 7 Chatham st w's, 128 ft # of Dickerson at, 24x10. 450 NORFOLK, Va., Oct. 14, 1868. The Commerctal Convention which assembled at Bristol, Tenn., on the 16th of June last, and whiclt was adjourned to this date at Norfolk, met to-day at eleven A. M. in the Opera House. Over two thou sand delegates were present from the States of Ten- neasee, Missouri, Kentucky, Obio, North Carolina and Virginia. Numerous matters tending to the development of the city of Norfolk and the estab- lishment of internal lines of communication with the great West, both by rail and water, were discussed, as well as the all-important project of in- augurating direct trade with Europe by steain. The peculiar advantages of Norfolk as a seaport— whioh are unsurpassed both for harbor facilities (the greatest of which is depth of water), the temperate climate of Virginia, so well adapted to the trans- portation of merchandise and products; the easier and lighter gradients on all her water lines and ral!- roads, and, above all, the comparative shortness of distance and less time for transportation as com- pared with other routes—rendered the action of thé convention a matter of the most vital importance te not only Norfolk, but the entire State of Vir- ginia, But the great, and perhaps most important, object sought to be consummated by the entire body was the construction of the proposed Bristol and Cumberland Road, ninety-five miles in extent from Cumberland to Bristol. This road will connect at the Gap with the Louisville, Harrodsburg and Vir- ginia Railroad, and at Bristoi with the Virginia and Tennessee Road. Colonel William L. Lamb, one of the leaders in Norfolk enterprise, opened the proceedings in @ short and weil timed speech, setting forth the objects of the convention, and exhorting the body to action instead of resolution. Judge McKinney, or Knoxville, was then onan Gray and Orange ats, 8 w cor, 78x100 . Malvern st and av F,'n w cor, Roseville av, 8, near Susser ay, 2 lots, G Haniendect ‘TRANSFERS IN HUDSON COUNTY, N J—-HUDBON CITY. of Grigith av., 425100 wv, lot Mi, E RV Wrighi’s pi Summit and Zabriakie avs, 8 w cor, Lot 24, block 3, map Hudson Grove, 25x 00. HOROKEN--WRST HOBOKEN. Bloomfietd at, w #, 195.8 n of &th at, 44x10. Plot adjoining Mrs Mascar’s property, 4 acre. TERGE. Atlantic st, 150 ft from River st Lexington ay, lot 58, block No 1, 21x87. Lote | to 8 and 80, 31, 32, block 13, Mra J: Lots 25 to 99, block 1, # of creek, MraJane Van Horn'sS Lote 10 to 24, block 10, Mrs Jane Van Horn’s....... Lots 1 to 8 abd 25 to 8%, block 10, Mra Jane Van Hora’ WARRISON. Warren at, 6 #, 150 ft w of 8d st, 25x100 TUE TELEGRAPH TROUBLE IN CALIFORNIA. The Western Union Telegraph Company vs. The Atlantic and Pacific States Telegraph Company. SAN FRANCISCO, Sept. 22, 1863. When the Western Union Telegraph Company, some two years since, swallowed up, as it were, the California State Telegraph Company and obtained entire control of ail its lines, the monster corporation for a time felt easy, and, like the gorged boa constric- tor, coiled itself np for a quiet nap, believing that it could enjoy a rest for some time without annoyance or molestation, or, in other words, it little dreamed that arival company would spring up to interfere with its entire control of the telegraphic business of the Pacific coast. The law which incorporated the California State Telegraph Company gave It great privileges. It had the right to enter upon private property and con- struct its lines, and any interference with the same was punishable with great severity. Indeed, 1 doubt if there is a law tw any other State of the Union that so well protects its telegraph lines and | mouasly elected temporary chairman, and upon being everything appertaining thereto. Upon the strin- Fins nent od wd R Say the body in the gency of the law the Western Union Telegraph Coin- my ‘committee to report upon i nat, tee: pany depended ina great measure for its security; for the statute, while it protected from interference, granted a monopoly to the company, and no other corporation had the right to build lines within the State. But all things must have an end, and so it ‘was with the monopoly; for while Cahfornia should and would protect a California enterprise, it did not care to bolster up the Western Union Company to the exclusion of California interests, when {it was discovered that the telegraphic anaconda had se- cured control of a majority of the stock of the State tion was then appointed and during its absence Mr. James Clapp dressed tie Convention. He re viewed the history of similar bodies and strikingly illustrated the advantage that had accrued from them. He particularly called attention to the advan- tage of a linking with the Pacific Railroad; referred to the great agricultural and mineral resources in the intervening sections, and admonished the td that they would be false to their interests if Norfoll did not teem with vessels in a European trade at aa early day. The poverty-stricken condition of the poole and the darkness of the political prospect war ached upon, but beyond all this there was light which, though slow, would be sure te and ho} Telegraph Company. come. Energy, en! rise and, above all, ‘“right,”’ It was not Jong after the chi in the control of | would achieve aaytl and triumph over every the line on this coast that grumbil was hi and | dimculty. threats of opposition lines were loud and long. Madame Rawor soon had it that it would not be many months before a new line across the Continent would be commenced, and that Eastern and Western capitalists would be to carry the enterprise to a successful termination. There was a war at first between the Associated Preas of this coast and the inanager of the Telegraph Company here, but this quieted down and ap- parently amounted only to ‘a tempest in a tea- ot,” The construction of a new trans-continental line was ho} for by the people here; they looked upon the tolls charged for eastern mi a8 eX- orbitant, and prayed, almost, for an opposition to spring up that would put telegraphic communica- tion with the East within the reach of every one. Six dollars for ten words, and forty-five cents for every additional word, in coin, was considered rather steep, and nef knew that nothing but oppo- sition would reduce it in any material degree. ‘To the rumors and_ reports that were heard on the street but little attention was paid, for it was thought that there was nothing in them, and it was with no ittie ‘eo that we beard that a rival Tele- graph Company had hg into existence, and that the Atlantic and fic States Telegraph Company bad actually commenced the construction of a line between the cities of San Francisco and Sa- cramento, and that it would be continued east to Virginta City as soon as the two first named points were connected. The work went on Ce ag ad- miraply constructed line of two wires was being put up, and about six weeks ago it was completed, and telegraph communication was had between San Francisco and Sacramento via Santa Clara, San José and Stockton. It was a matter of wonder that no interference was made by the Western Union Com- pany while the line was ere up; we thought that the man: agent of the guaconda would have been after the new line while in course of con- straction, and did not think that law suit would Colonel John R. Goode, of Norfolk, on the part of the city, welcowned cordially the delegates from al! the other States. Virginia, he said, though toro, bereaved and poverty stricken, was yet peaceadic, while her sister States were convuised by political agitation, and he hoped that the action of the body would bind them with the great West, and that soon the beautiful waters of the harbor would be whitened with sails engaged in a transatlantic com- merce. A number of other speakers then addressed the Convention, and the committee reported the follow- ing permanent officers, who were unanimously el — Presideni—George W. Bolling, of Deg 2 Vice Presidensi—P, ©. Johnson, A. D. Dickinson and David J. Burr, of Virginia; P. P. C. Nelson, J. Rh. McKenney and L. 8. Maye, of Tennessee; Henry A. Gilliam, D. 8. Hill and Seaton Gales, of North Caro- nna; Colonel Carlists, B. J. Spalding and J. B. Stew- art, of Alabama; Colonel Robert P. Bush, William b. Hoile and C, P, Rudor, of Kentucky. A number of secretaries were also appointed, who took their seats upon the stage near the chair. George W. Bolling, of Petersburg, upon being con- ducted to the chair, briefly addressed the body, con- Aning himself to the actual business before it, which can scarcely be said of otaers, who too frequentiy ——_ into politics. The West, the mary of the world, sought through Virginia an outlet for her immense wealth. Her advantages were supe- rior to those of New York, Pennsylvanta, Maryland or any other State. An established line of railroad between the West and Virginia, extended by steam navigation to Europe, would develop the resources and ba beyond conception the wealth of not only “~— but every State through which tt le augered a bright and happy future, and ped the Convention would go actively to work. Announcing that the Convention was ready for basi- ness the Chairman took his seat. ze pospones a the ” Kaige ogh hg! bierd General Manone, a8 chairman of the committee ;, Dut it came vatol, ¢ for ox Ing 01 pik a short wil chow who will a Appointed at Bristol, came forward and submitted a lengthy report, recommending the adoption of the following charter, which, tt 1s conside: is admire bly adapted for the object in view:— rages, “iret best.” The Western Union Company ask the conrt to grant an injunction to jt the Atlantic and Pa- cific States Telegraph my from, Going business } “SASSER Of THE IezERNARORAL COMMEREIAL COM pis ey ty i aie eine ae AN ACT to Incorporate the International Commercial Cor for injur, . a folk City. passed Februnry 7, 1: fen or those of te new eompany, and to order that om ieyae ht icv age ne Thad Willan Lamb Charles R. Gran A i iy Leigh the new company remove its wires and poles, or, in Lewis W irene, eG, ey a: _ ee give up the project entirely—a modest itis, KT. Wiat they ask first ts, 1 su] Tacod Umstadter, George D, Parker and Thomas F. Ke re; Or any throe or more of them, shall be and they aro bh erehy other wo a Onder the mono oly law before spok: ex: en of. wathorized to vooks of subscription to & johne iain the secon: uest 1 must give some idea of | stock compan: ny ane of “International Commerce's! ( ow the lines run. Pour < mewn ee ne ong Cae ee re pu “ Union Company run south from the jong the ping, fitting, line of the San José Ratiroad to San J At that mavinting’ Th Pa Sage he rn) ante: — one continues south to Los Angeles, while | Mout nag "the port ot Liver Abel foreinn ool, and porta; and for auch purpose, all tire sccessary and in power is hereby granted to anid compaay, and ail ¢¢ made may be elther verbal or uncer the signotur President aud Secretary of said company, with or the corporate seal, The capital atocic shall be one million dollars, tobe «i into of one hundred dollars each. The company may commence operations when twenty thousand doliara 91a") have been subscribed, and the sum of tea per cent « paid fn, with live ie other three go around the bay and thence to points in the northern and eastern sections of the State. Upon much of this route the lines of the new company gre, placed, and the West- ern Union Company complains that in piacing them there some of their poles have been removed and the wires placed so close to theirs as to mate- rially Interfere with the working of the lines; and tt 1a for this that $50,000 damages are claimed. It is conceded by ail who have a knowledge of how telegraph lines should be constructed that the new company has buiit one of the best lines in the United States, and from what | have seen of it [should say amount of each share subscribed fo: Inereasing the capital five hundred thousand dotiars. Said company inay own a wocttonal, floating fn the county of Norfsik, and fa the cities of Nor’ d may owh real and personal estate lo ‘and counties of the Btate of Virginia, © mouth the cities, to the same. Those who have contro! of It contend that ong, for the o'st0 4 of the company. cl % fe it further oted, That the Corporation hereby the law which gave the California State Telegraph hall tare power aaa cutbortty 10 pom hg prey bs Company & monopoly in this State was annulled at the last session of the Legislature, and that now they have the right to build what lines they ace fit. One thing appeare very clesr to me, which {4 tiat those who sre interested in the new company are men too wide awake to tavest their money in a project that they knew would not stand the test of iaw; hence I am ander the linpres- sion that that portion of the case will fail to the ground, ‘The new company contend that, having recelved from the San José Railroad Company permission to construct their line along the line of the railroad, they had a perfect right to place their ge in what paition they deemed best, and that when of ihe other coinpany was removed it was cat make room that was unnecessarily ovcapied. ey fur ther say that their line does not cross or in any inan- ner interfere with those of the other company, nor are their wires placed in auch & position as to mate- Tally or in the slightest degree interfere with the Hore sey” oldims thas "this, portion. of the "com. lore they claim C com. plaint i@ groundiess, We bear today thet the to make fire and marine insurance upon ves wares, merchantice and other property, aad on forury and respondentia, and that they may ml olves to be insured againat maritime and re riaks, up " fmierest they may have in nny vessels, goods, oF perty in virtue of any loans or boitomry of repondentia, + of any poliey or eoutract of Insurance. Thia ct shall be In force from ite fo amendment, modification OF repeal 4 Asrembiy. B ‘i ©, B.D, and K. of R. of Virgiuta. The report was then referred to a@ commitiee that waa subsequently appolated on business. Tie Convention then adjourned to half-past three P.M Evening Session. The Convention met according to hour of adjourn. ment and the Committee on Business was appointed as followa:—Willlam Manone, of Peters! Ki G B. Root, Needam Price, Dougiass Hell, W. ier, John R, Williams, W, G. Upenurch aad J, R. Stubbs, of North Carolina; Drury Morriss, John A. McKin- ney, Whiam B. Grove, W. J. Ross, J, W. Clapp, William P. Elliott and G, W. Manny, of Tennessee KW, Havbard, Wm. D. Reyuoida, Jobo B. Baldwin, ee, and be aurt the pleasure B