Mr. Bowen to Mr. Hay.

[Telegram.—Paraphrase.]

(Mr. Bowen reports that he has received a note from the Venezuelan Government stating that it believes its differences with Great Britain and Germany can be settled by arbitration and asking Mr. Bowen to be arbitrator representing Venezuela. Mr. Bowen requests an immediate reply.

Combined British and German fleets captured to-day all Venezuelan war vessels in the harbor of La Guaira and probably in other ports.)