The Peace Conference.
Washington, Feb. 26.
--The Peace Conference will probably adopt some action to-day, but it is understood it will not be favorably received by the Southern Democracy
, and that it will probably ‘ "politically emasculate Virginia
,Feb. 26, P. M.--The Congress held a brief session to-night.
The subject of compromise is as widely open as ever, though some remote hope of an adjustment, acceptable to Virginia
, is entertained.
It is believed Franklin
's substitute was voted down in the Peace Congress, and it is understood Crittenden
's resolutions will be proposed to-morrow.