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Confiscation of vessels Owned at the South.

--The seizure of vessels at New York and other Northern ports, under the new confiscation act, still continues. All the vessels taken are first libelled, then confiscated, and will be finally sold to the highest bidder. Some of these vessels were loading with cargoes for foreign ports. The Government, it is stated, will not claim their cargoes, (unless it should be proved they were intended to be shipped to Southern ports,) and the owners will be afforded every facility for their removal. Among the vessels taken possession of at New York, on Wednesday, were the steamers Roanoke and Catawba, barks Pioneer and Winifred, of Richmond, and Gen. Green of Charleston, brig Sarah Star, and schooner Annie M. Johnson. Speaking of these seizures the New York Post remarks:

‘ In case of most of the seizures but a small part — say one fourth of the vessel — belongs to parties in the seceded States. The three-fourth owners, resident in the North, will bid in the vessels, and, as the Secretary of the Treasury has discretionary powers by the act, he will, undoubtedly, remit the amount paid for shares previously owned by the bidders-in, and accept only the amount due for the portion of the vessel claimed by Southern owners.

The Southern owners can, of course, have no claim upon the Northern buyers, as the act of Congress confiscates their property. The South is thus likely to be cut off from any ownership in a large number of vessels, and Northern shipowners will have an opportunity of adding to their property at a considerable rate, considering the probable amount which will be invested under the confiscation sale.

With regard to the transferred vessels, it is believed that there will be no special difficulty in establishing the illegality of the transfers. The Federal Government will not be likely to recognize powers of attorney issued by the rebels — particularly when they were issued for the purpose of attempting to nullify a law enacted by Congress, and to avoid the confiscation which the act of Congress and the proclamation of the President decree.

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