Newspaper Page Text
The Daily Herald.
SATURDAY. SEPTEMBER 20. 1873.
THE HERALD PlULISHISG COMPANY.
THE FINANCIAL. CRISIS IN NEW YORK.
A LEX. ST. CLAIR-ABRAM8.
HENRY W. GRADY,
R. A. ALSTON,
Editors and Nanacera.
THE TERMS of the HERALD ere as follows :
DAILY, 1 Year $10 00 | WEEKLY, 1 Year...$2 00
DAILY, 6 Months.
DAILY, 3 Months.
DAILY, 1 Month.... _
Advertisements inserted at moderate rates. Sub
scriptions and advertisements invariably in advance.
Address HERALD PUBLISHING CO-,
Drawer 23 Atlanta, Georgia.
Office on Alabama Street, near Broad.
The news from New York continues very
gloomy. It is becoming evident that unless
the Federal Government interferes a serious
financial crisis is impending. When old and
reliable houses like Fisk &, Hatch suspend, it
will be extremely difficult, if not altogether
impossible, for less firmly established con
cerns to hold their own. Doubtless the sus
pension of such firms as that of Fisk & Hatch
merely a precautionary measure and not
the result of insolvency; for no one supposes
that the millions possessed by these men
could vanish in a dny by reason of the failure
of a single firm. But while we still adhere
to the opinion that the present crisis will not
be widespread, it is none the less likely to
have an injurious influence upon all branches
of business for the time being, and to seri
ously disturb the principal commercial
kets of the country.
No one can be blamed for this deplorable
condition of affairs but the United States
government. For the past five years, the
Treasury Department has been managod more
as a vast stock jobbing concern than as the
financial establishment of the republic. The
policy pursued by the Secretary of the
Treasury has been the cause of the almost
painful stringency of the money mar
ket for months past. Pliant tools
of the bondholders, every financial movement
of the Government has been towards a re
sumption of specie payments, although it has
been apparent to all that this could not be
effected without a dangerous convulsion. The
volume of cnrrency has not only been re
duced below the demands of oar population,
but even the limited amount of legal tenders
has not been issued, and there now remains in
the vaults of the treasury department millions
of dollars which, if thrown on the market to
day, would terminate the existing crisis in
the Northern cities, and restore confidence to
the financial world.
For several years past a crash has been
feared. The demand for money has been
greatly in excess of the supply, not ODly be
cause of the insane policy which drew hun
dreds of millions from circulation, but also
because the gigantic railroad and other opera
tions in which capitalists have engaged have
called for a larger amount of money than
there was in the country. This is not the
time lo enquire into the wisdom of all the
enterprises which have made necessary the
money. Sufficient that they had been
engaged in, and that the Federal Gov
ernment had taken all the bunking
powers into its own hands it was
the duty of Congress and the Administration
to have provided the necessary banking capi
tal, and to thus have accommodated the de
mand for money. There are thousands upon
thousands of millions of dollars in railroad
and other bonds now in the country, which
had no existence before the war. Railroads,
Ac., were built with them, and without
money, and now that the laws of finance and
of commerce are asserting themselves, money
is required to carry them, and that is precise
ly what the Federal Government has not pro
vided.
Fortunately for the South the crisis has
come before the cotton crop has been sold.
Had Jay Cooke & Co. held up until Novem
ber, the result would have been most dias-
trous to us, for then we would have been
creditors of the North, instead of debtors, as
is now the case. Consequently, the South
will not be materially affected by the crisis.
It may, and doubtless will, if it does not ter
minate soon, continne the stringency in mon
etary circles which has marked the past sum
mer; but even though it may compel our mer
chants to extra caution, it is not at all
likely to affect either our prospects or onr
business,
Besides, wo feel confident that the gDvern-
ment will come to the relief of the money
market by calling in a considerable amount
of its five-twenty bonds, and thus terminate
ANDY JOHNSON ON “SOUTHERN SEN
TIMENT.**
Mb. T. J. Bubney is the only authorized
Travelling Agent of the Herald.
Oar State Exchanges.
The first bale of now cotton waa eold in Dalton last
Saturday at 15cents.
The North Georgia Baptiat Association will convene
with the church at Antioch, Uo miles from Dalton,
Saturday the 27th instant.
Major A. J. Cunningham, an experienced and effi
cient railroad man, died In Dalton on Sunday last, of
congestion of the liver.
Mr. Elias B. Carliew. an aged and worthy citizen of
Greene county, died in Greensboro on the 11th inst.
A large sturgeon, weighing one hundred and fifteen
pounds, waa caught in Greece eewnty, from tha
Oconee liver, last week.
Rutledge is patiently and persistently engaged in
the erection of a calaboose.
The Grand Jury of Greene county recommends
county court, with Judge Philip B. Robinson as judge,
with a salary of one thousand dollars.
The two first bales of new cotton was sold in Rut
ledge on the eleventh instant at 18*. cents.
John Long, who recently brutally murdered Blevin
Taylor, and who has so long been a terror to the good
citizens of talker county, lias been arrested, and is
now in jail.
There will be a grand excursion from Selma to
Atlanta via Kingston on the twenty-fifth instant.
C. E. Hills k Co., the Etowah Manufacturing Com
pany of Rome, burned out last Monday morning, have
leased the foundry building on the banks of the Oos-
tanaula river, and will resume the manufacture of fur-
niture, sash and blinds, etc., in a few days.
The Rome Courier gives this of the colton crop in
that region: Between the too largo growth of weed,
sadden drouth, and the worms, the cotton crop in
this and the adjoining counties has been cut off about
23 per cent, in the last thirty days. It is opening very
fast, and the present prospect is that it will be nearly
all opened by the 10th of October.
Mrs. C. Beyseigle died at her home in DeSoto, near
Rome, on the ICth inst.
Miss Fanny Carver, sister of J. D. and J. B. Carver,
of Rome, died at her home in Fayetteville, North
Carolina, on Monday last.
Mr. A. Cordell, who moved from Rome some two
years since, died at Cnthbert, Ga., on the 13th in
stant.
T. 8. Donning, of Patona. Ala., drew the parlor or
gan at the Rome Fair, which was delivered to him by
the Secretary on Wednesday.
On Tuesday last Mr. C. G. Samuel was elected Coun
cilman to fill the vacancy occasioned by the resigna
tion of R. T. Hargrove.
The Camp Meeting, at Morrison’s Camp Ground,
will commence on Wednesday, the first of October.
The grounds are about seven miles from Rome, near
the Kingston road.
The trestle work on the Memphis Branch Railroad
near Rome, is now finished and ready for the iron.
It is a substantial piece of work, and was built at the
astonishingly low cost of less than $1 per linear foot.
Col. C. M. Pennington superintended its construction.
The Albany Central City’s observation of the cotton
crop in that region is to the effect that the yield is not
half the capacity oi the land ; in other words, that not
half a crop has been made. The prevailing winds,
too, are likely to render it very trashy.
The “Orientals” of Albany are rigging themselves in
the dazzling toggery of the stage, for the purpose of
giving public entertainments in the interests of chari
ty-
Religious revivals and camp meetings are more or
less prevalent in various portions of Georgia.
The Dablonega Signal says John Weaver and Dan
Davis have arrived from Utah Territory, where they
have been rusticating for the last twelve or eighteen
months among the gold diggings, kc.
Capt. Johu A. Parker has discovered a valuable gold
vein on lot of land No. ,820, In the 12th district and
first section, about one mile from Dahloneg-t.
“Look out for the mule thief in another column,”
says the Dahlonega Signal. As the editor failed to
“put him in,” we did not see the rascal.
The removal of the Gainesville Post-office from the
centre to the outer limits of the town has romewhat
outraged an enraged sentiment of the citizens.
Six hundred and seventy-nine bales of new cotton
had been received at the warehouses of Americus up ! the unprecedented financial stringency to
to Wednesday night last. Price 15\' cents.
On Tuesday morning, about eleven o’clock, a well-
known employe at one of the mills in Savannah at
tempted to commit suicide by swallowing five grains
of arsenic. Domestic trouble tho instigator of the
rash act.
This from the Columbus Sun ol the 14th instant:
“T-e enquiries for the Atlanta Herald of Sunday has
b?en immense. Enquiries are yet being made every
day r or it.”
That political bummer and egotistical nss,
Andy Johnson, in an interview with a New
York Herald reporter, says that “Jefferson
Davis in again trying to ‘fire the Southern
heart,’ was a great misfortune to this ^sec
tion, for they wore taken as the sentiments of
the Southern people, while in fact they were
indorsed by an insignificant few of the St.
Clair-Abrams class.” As Andy Johnson
never could appreciate nor understand
Southern sentiment, we do not believe that
the “insignificant few of the St. Clair-Abrams
class'* will feel verylmuch aggrieved by his
language concerning them. It was the mis
fortune of the great mass of the Southern
people to be deluded into the belief that
Andy Johnson was their Moses, and would
lead them out of their desert into the prom
ised land. But so far os the St. Clair-
Abrams’ class (whatever that may be) is con
cerned, it nover regarded Andy as anything
more than an obstinate, noisy demagogne,
whose capacity for imbibing Bourbon whisky
was greater than his capacity for anything
relating to the art of government. The idea of
his being an exponent of Southern
sentiment is about as amusing as it is impu
dent. We do not believe there is one honest
Southern man in ten who does not heartily
indorse and applaud all that Mr. Davis said
in his recent speech in Virginia. The re
maining tenth are good, honest, sincere men,
respected and esteemed by everybody, but
men who fail to comprehend the spirit of the
day, and who cannot perceive that wbat men
like Mr. Davis and Gen. Toombs may say to
day are but the utterances of prescient minds
tilled with prophetic inspiration.
AN HONEST NORTHERN MAN’S COM
PLAINT.
THE PANIC.
The Failures Continue.
In the Citr
on yesterday a Hkbald reporter called on Jud^e
: W. W. Clayton, at the State National Bank to inter- ■■■__ ..
view him about the New York bank failures. TLe H. 6. STEVENSON
following ia in subatance the converaation: \
MACON DEPARTMENT.
CITY EMTOR.
Thirteen FirmsSuspended
Reporter.—What effect will the failure of Fiak k ’MACON, GA., FRIDAY, SEPT. 19, 1873
Hatch have on Southern banka ? Are many of them . , '—: _— ~—
in correspondence with Fiak k Hatch ? Onr OAler.
Judge Clayton.—I apprehend that Southern leases
1 by them will be very small, if any. My opinion is j
~ ~ _ that they correspond with very few if any Southern Cherry street, over Helfrich's confectionery
otOCKS llOllC DO>t II leil Jl Cl* ; batiks. Think that their business is confined to the East store. Parties desiring to subscribe for or
and West I have, during my experience aa a banker. adTer ti*e in the Herald, will always find
: had one of their drafts presented at our counter and
The Branch Office of the Hkbald is on
Cent.
$10,000,000 of Bonds to he
Purchased To-day.
The “little paper reminds us yesterday
that some weeks ago the Hebald said it
“would run that special engine for ten years
if nt pessary.” Will the little paper allow us
pensively to remark, in self-defense, that after
calmly paying $75 every morning foi a long
cycle t time, we really thought (honest now!)
that the promised ten years had been ex
hausted. Upon reference to our books we
find that it has only been six weeks. It is
too bad to have made such a mistake!
Hanged if we haven’t got a notion to start
again and ran our time out, even if we have
to publish a little four-page paper the whole
time we are doing it!
Tiiebe was once a moDkey which saw its
master shaving, and the spirit of imitation
getting the best of tho animal, it seized a
razor and proceeded to shave itself. When i language of another without intending false
which alone must be attributed the suspen
sions of so many banking houses, and for
which the government is solely and directly
responsible.
P. S.—Since tho above was written, a dis
patch from New York gives a report that the
Government will purchase from five to ten
millions of five-twenty bonds to-day. If this
is done, the crisis will be at once arrested.
We trust that the Government will go still fur
ther, and throw upon tho market its entire
reserve of federal currency ; for while ten
millions, by stopping the run on the banking
institutions and the consequent locking up of
vast sums of money, will restore confidence
and terminate the panic, it is entirely inade
quate, and will leave tho country as exposed
to another financial convulsion as it was to
the one which we hope to announce to-mor
row as happily terminated.
Mr. Thurman comes at us to-day in a brief
and good tempered communication which we
publish most cheerfully. He altogether does
us injustice in supposing that we imputed
falsehood to him touching Dr. Powell's al
leged remarks. Nothing was further from
our mind. A man can misunderstand the
In the Columbus Enquirer of yesterday we
find a long article from Major Calhoun very
ably written, in which that gentleman virtual
ly says that because he is a Northern man he i
does not receive that patronage which his j
paper merits. He complains that “had the j
Enquirer published any of the correspondence :
in the recent Phillips-Waddell case, a score i
* * would Lave traduced us [him] as ‘inter- ;
meddling Yankees,’ but ihe Herald of Atlan
ta and the Sun o* Columbus can do it without! their advances
a comment.” He also says that every word
ho utters “is watched by some hound who
tries to discover a Radical foe.”
Whatever of truth there may be in these j police,
complaints, it appears to us that Major Cal
houn does not make those allowances which
the nature of his case demands. Coming
Suspensions in New York.
Nkw York, September 19, 1873.
Suspensions: Robinson A Suykom, Richard Scbull,
Fisk k Hatch, White, Defreez k Rathbone, Batdb k
Edwards, Eugene Jackson, Theo. Biddle, A. M. Kii-
der.
George Opdyke k Co., have not suspended.
The wildest excitement followed the failure of Fisk
k Hatch. Wall street was in its ahirt-»leevea and
bareheaded. Stocks fell 10 per cent., and are still
sinking.
De Haven & Co., of Philadelphia, have failed.
Additional New York failures—Thomas Reed k Co.,
W. H. Warren, Greenleaf & Morris, George B. Alley.
A Run on the Banks.
Washington, September 19, 1873.
Dispatches from various cities report long lines of
depositors crowding the bank doors. This city is no
exception.
The Western Union Telegraph stock opened at 78,
now G8>*. Like fluctuations exist in the whole list.
Jay Cooke k Co. have assurances from their London
bouse, and correspondents of other cities, that tbeir
bills will be protected.
There is quite a rush on the Washington City Sav
ings Bank and a slight demonstration on the Freed-
mens’ Bank, but both give assurances ot their ability
to meet all demands. The Freediuens’ Savings Bank
report this morning that they had $80,00), of which
only $20,000 had been drawn. There are about twen
ty-five persons in line at this bank.
No excitement about the other banks.
Further Particulars — More Suspensions—
Fisk & Hatch to Resume Soon—The
Secretary of the Treasury to
Throw Ten Million of
Legal Tenders on
the Market.
New Yobx, September 19, 1873.
Fisk .V: Hatch say their suspension is temporary and
upon the Chesapeake and Ohio
road and the Central Pacific. They expect to resume
i soou as the panic ceases.
Fitch k Co. have suspended.
The office of Fisk k Hatch is strouely guarded by
have never seen any of their exchange.
Reporter—How about the Jay Cooke failure ?
Judge Clayton—There are a good many Southern
banks in correspondence with them, but at this season
nearly all of the Southern banks have tbeir accounts
with New York overdrawn.
some one io the office to attend to their
wants.
City Circulation of the Herald.
Hertalter and until the night train is again runnine
upon ths Macon and Wostern road the Herald will
Reporter—Will these failures have any damaging arrive at three o'clock in the afternoon and be at
effect at the South.
Judge C.- It will effect materially the money mar
ket. Money will necessarily be much tighter, it will
also have a tendency to lower the price of cotton.
Reporter,
ci pally ?
The National Park Bank, and I have no uneasiness
regarding its solvency.
Another Ranker** Views.
We then called
once sent by carriers and newsboys as heretofore
throughout the city. It is hoped that in a few days
the schedule will be so changed aa to allow the paper
What bank do you do business with prin- ; to 8* 1 bere » 4 ***** o’clock in the morning.
The City.
The weather continues disagreeably wet and the
streets very muddy. So far as has been ascertained
heavy rains have and aro falling through Middle and
another prominent Atlanta j Southwestern Georgia, of coarse checking cotton piek-
tanker, from whom we solicited the following opin- i D g. For the week ending yesterday the total receipts
io-s: That business in the South would , were 1.237 bales.
MACON COTTON STATEMENT.
band Sept. 1,1873 1,39*.<
j Received to-day 306
; Received previously 1,338—1,046
be entirely crippled. That their bank
would not cash a draft on any house in i Stock
New York to-morrow—that the rumors of the sus
pension ol the Fourth National Bank of New York was
without foundation—that be bad, through private tel
egrams, been informed that there was a heavy rnn
made on that bank on yesterday, but up to 3 o’clock.
the hour for closing, all checks had been met prompt- Stock on band this evening 1,995
ly. But there is no tolling wbat a day may bring forth. The Great Failures—No One Hurt Her*.
That the uneasiness evinced by the merchants who As announced in your paper yesterday morning, no
have sent exchange or drafts through the banks on bank or banking institution in this city had a dollar
New York, is without cause; that the banks with Messrs. Jay Cooke A Co. at the time they want
here are responsible for all their drafts; , under. Cooke & Co. were manipulators of Western,
that Howes k Mscy, the Park Nation- 1 Northern and Government funds, and had few corree-
al Bank, the Fourth National Bank and Jay pondents in the Sonth. It was suggested last night
Cooke k Co. are tho Now Y’ork Banks that correspond that perhaps the Freedman’s Savings Bank of Macon
with the Atlanuta Banks. The Fourth Nations! Bank . would be effected by the failure; but upon inquiry of
J one of its officers, we learn that the house did not owe
J it a dollar.
It was also suggested that tbls failure and others
i which were sure to follow, would militate against
HERALD SPECIAL REPORT FROM CO- Sou,Uenl «■>»»«•. But thia. too, i. f.iUciod«, for we
t mure . have all our crop of cotton on hand, and England, not
LvAlDt o. ' .. .
the l mted States, dictates the pnee.
In the community at largo there was no sympathy
detected for Cooke and his Company. It waa well
; known that during and since the war they were bitter
enemies of the Soath.
So far as Macon banks are concerned, the balances
1 the fiscal agent of the State of Georgia.
LAY-DEYOT1E.
All quitst and Serene -No fight and none Ex
pected—Lay on his Return to
Atlanta.
Cdlumbus Sept. 19, 1873.
A prominent Wall street banker says if the move
ment now making to get the Secretary of the Treasury
to come to the relief with $10,000,000 should fail there
will be a general suspension of banks. Another
from the North a perfect stranger to enter into ! meeting of bank Presidents is now being held at the
so conspicuous a business as that of journal- Clearing nouse.
All quiet and serene. Lay is occasionally Northern banks, just now, arc greatly against
1 them, and they, therefore, cinnot be hurt no matter
seen on the streets. DeYotie is attending to
his usual duties. For a short time, early this
morning, a number gathered in the neighbor
hood of the Sun office, as it was thought
by some that a difficulty might occur, in con.
sequence 01 DeYotie’s card in the Sun to-day.
Most of the crowd remained but a short time.
to wbat extent Cook’s failure may go.
The Marietta Military Institute.
The proposition to make a liberal bid for the re
moval of the Georgia Military Institute to Macon has
been favorably received and discussed in the com
munity at large, and at the proper time the sense of
the city will be taken upon ‘he question.
To secure it we must pay a gool large Earn. As t>
It is understood Lay leaves to-night or in the tl,c propriety of doing so there is no question. It
■ould be of incalculable benefit to us now, hcncefoith
morning.
G.
ism, it was not unnatural that his words
should be closely scanned, not by
“ hounds,” but by honest, intel ent,
Vernon k Hay suspended. The po'.ieo prevent any
v j but members entering the Stock Exchange. E. D. Ran
dolph k Co, bankers of the Pennsylvania Central R R,
and Wm. H. Connor announced suspension. The
men. He must remember how badly the j Clearing IIouso appointed a committee of five to pre-
South has been treated by Northern men who I pare a plan to relieve the present difficulties.
From Another Correspondent.
Columbus, Sept. 19, 1873.
Col. Lay has no trouble here. All quiet
Lay will probably leave on the next train for
Atlanta. E.
and forever. The idea that we are not able to give
anything for it is absurd. We can well afford to give
it the Laboiatory buildings and a good endowment
besides.
Mr
L. II. Pike
have come here, made money and then re- ;
turned home only to traduce and villify the
people among whom they have lived and pros
pered. ne should have carefully considered
all the difficulties he would have to overcome
before he could conquer the natural suspi
cion of the people. We have every faith in
his honesty of purpose, and we most earnestly
deprecate anything like ostracism, but we in
sist that he ought not to utter such sweeping
condemnatory language as appears in the arti
cle to which wc have referred.
To live down prejudices and conquer sus
picion, he must reconcile himself to some
sacrifices. It will doubtless cost him some
money at first; it may bring down upon him
sneers and even abuse, but all he need do is
to persevere and he will win. If wo were to
move to any small Northern town, we would
expect no better treatment at first than he is
getting. Even in the great, liberal, big-souled
city ot New York, the writer found it hard
labor to rise in his profession as a journalist,
and simply because we were a Southern man
and a “rebel. ’’ More than one sneer had to
be encountered, more than one insult to be
resented, before we could make men under
stand that in the world of journalism there are
no sections.
Nothing is mere absurd than to abuse men
simply because they are born in New England,
or France, or Germany, or Ireland. For the
first time we were compelled, not long ago, to
stigmatize two journalists as “Yankee adven
turers,” but we did so with actual pain, and
simply because, after submitting quietly to re
peated sneers and abuse, they ventured, sup
posing that we were not a Southerner, to con-
temptously advise us to go back to where they
supposed we were horn. We gave them a
2 o’clock—A better feeling prevails. Western
Union 72. The run on tho Union Trust Co is tnbsid-
ng More or less crowd around every paying tellers
desk.
George B. Alley, whose suspension already an
nounced and is widely known in connection with fast
horses, having raised Dexler, says his suspension is
caused by a general decline in stocks, especially Van
derbilt stocks. Ilia liability
expects to resume soon.
Greenleaf, Norris A Co., a
firm, aud President Calboun, of the Fourth Nati
Bank, says: “We have no reason to fear anything.
President Toppan of Gallatin National Bank says be
lieves the better hanking institutions will weather the
storm.
Secretary Carlton of Union Trnst Company says
that Company is perfectly solvent and will meet all
demands. Reported that that Company had seven
hundred thousand dollars on deposit last night.
Mr. Fahnstock, of Jay Cooke k Co., said in
an interview this afternoon that the firm
hoped to pay all liabilities. Mr.Garlaiul, another mem
ber of tho firm, said the Loudon house had a large
surplus after the payment of all its debts, unless
there is a great shrinking in the value of their securi
ties.
The report ia that the Government will come to the
1 giviu
COLORADO.
Conclave 14,000
Sea.
feet Above the
Denver, September 19, 1873.
At oue o’clock to-day the Colorado Commandery No.
1 Knights Templar convened in special conclave on
not large and he j summit of Pikes Peak, and was opened in am .it*
form. Probably no similar Masonic body ever be; re
old^ and wealthy stock j i^ida meeting over fourteen thousand feet above tho
level of the soa. After the meeting the Knights en
gaged in parade and drill, going through tho entire ! nencc to this
manuel of arms in use by the order.
KO CAUSE FOR ALARM.
Not a few absurd rumors were afloat in the
city yesterday, concerning the solvency of
ceivcd the folic
it space in our
Brooklyn, N. Y., September 8, 1873.
To TiiE Editors of the Herald, Macon, Ga. :
Sin—From intelligence received here it appears that
some low libertine has been circulating in your city
i the most slanderous falsehoods concerning the char
acter of Mrs. Louis B. Pike. Now, Mr. Editor, I, as
well as others, citizens of Brooklyn, who deem It their
dr* to r fute those wicked slanders, have known the
j l*“*i *«• question in our neighborhood, where she re
dded, l\,r about four years, and always heard of her
as being a true and loving mother, and bearing an
irreproachable character. Mr. Editor, by giving promi-
your valuable paper, yon will assuage
j the outraged feelings of a lsdy, and have the thanks of
I many citizens of Brooklyn.
Very respectfully,
Alfred May,
A citizen of the 15th Ward, Brooklyn, N. Y.
banks and bankers of New York on whom Theatrical and Literary Items.
drafts had been purchased by merchants of :
this city. A rigid inquiry failed to discover
any truth whatever in them. None of our
banks are in the slightest degree concerned j dy Andy.”
Dan Bryant concluded his engagement at
Liverpool, August lfith. He appeared for
many months in the “Irish Lion” aud “Huu-
in the New York crisis, their correspondents j Maggie Mitchell (Mrs. Paddock) lately cel-
. , there being large corporations possessing j ebrated her wooden wedding at Long Branch.
rescue to-morrow, by buying five millions of bonds, j immense reserves. There is, therefore, not ! Amon S “er presents were a cord of wood and
The Constitution forces us to acknowledge, t * uril ^ g a ^j r A° rmai 15?. at
* ’! Minnesota, and rushed through the tent,
; a saw-horse.
The sea-lion in Cole's menagerie broke from
his cage during a performance at SL Paul,
caus -
n, Rock Island, Wabash, st. Paul, Northwestern, I He was our New York correspondent; and ! at Providence, Rhode Island, lecturing on
: of late he hasn’t been answering our letters !
, . . , . , of legal tenders. With tb
little of their own sauce, and it will probably ! witll Iow
•nd provision markets aro .11 nnseltled by the ^ 8lighlcst neces6 j tv fot alarm
Wall street panic State and railroad bonds and city 1
bank shares have been practically neglected, while
dealings in railroad stocks continued on an enormous ■ . . , . ... . c i ,
scale. This altcrnoon the principal transactions have j at th ® reftl ca ” 8e ° f thC sto PP a 8 e °* oar iug great consternation,
been in the Pacific Mail, Central and Hudson, Western | engine. It was owing to Jay Cooke s failure. , Rev. Henry Morgan has drawn fall houses
u.
Lake Shore and Erie.
Outside purchasers continue in considerable num
bers on declining market for investments, which aid
ed in strengthening the market this evening.
Assistant Treasurer, Hillhouso, says it is in the pow
er of the National Banks to avert further disaster and
they will undoubtedly do so.
3:15 p. m.—Tee Evening Pest is informed that Sec-
rctary Richardson will offer to buy from flv
millions of 5-20s tc-morrow. This will throw
tbc banks legal tender notes for tho large currency I city as a whole, aud not for any man, or set
balance in the Treasury, which is nearly all composed | of men; and if that be your case, let US reas-
That Big Well.
ME. THURMAN GIVES HIS VIEWS IN THE HKBALD.
Bachelors and their Follies,” and “Old
Maids and their Accusers.”
Harry Jackson, while doing the first Napo
leon in London, had a cross of the Legion of
Honor thrown to him by au admiring and ab
sinthe-loaded Frenchman.
The Majiltons, and Americus, the child vio
linist, are to become members of “Bamum’s
Marvelous Drawing-room Aggregation,” atra-
bo a long time before they again attempt to
assail men because of their birthplace.
But while in our every day transactions we
demonstrate our opposition to a war upon any
man because he happens not to be born
South, we still maintain that suspicion of, and
prejudice against, Northen men in the South ^our later ,liau usual.
Tho Manhattan Bank kept open til! the sai
to certify the Union Trust Company’s checks
ic thus checked
rates for money, will soon follow.
Jacob Little A: Co. have failed.
More Favorable News— The Worst has Pass
ed—None of the Banks have Refused
Payment.
New York, September 19,1«73.
Trnst Company paid until 4 o’clock, at
To the Editors or the Herald:
As you speak personally of me in the Hek-
to ten j ald, of course you will allow me to reply. -uarveious drvwing-room Aggregation,
w into ! Now, Mr. Herai.d, I am working for the i ' e *J} n K ^mpany'for the season of 1873_
1 •* • - • - Mark Quinlan, the comedian, was buried at
Philadelphia on August 2‘2d. He was to have
calm ! on together.
You accuse me of being au enthusiast.
Now, Mr. Herald, this is the first intimation his funeral expenses.
supported Lottie in her engagements this
season. She sent one hundred dollars toward
The Ui
is the natural consequence of the manner in
which Northern men have acted toward our
people.
Instead, therefore, of Major Calhoun com
plaining with such bitterness of the manner
Prominent bank officirs aro of opinion th.tthe
worst of the crash ia over. Volume of business in
frtock aud exchange has largely exceeded that of yes
terday, while the iluctUitious
of the kind; I have always been considered
exceedingly cautious, and only appear entbu-
' siastic now% because I knot? that my big well
j will do.
! Yon next intimate that I misrepresented Dr.
j Powell. I have heard of people lying for
; money, but did you ever hear of any one
lying for the purpose of getting au opportunity
to work for uothiug for the city of Lis adop-
i tion?
You further say that we noisy people are
j trying to prevent the construction of water
orks. I have always been a strong advc
Mrs. Franklin, well known ia Boston in
former years as a splendid oratorio singer,
died in Washington recently at the age of
seventy years. Braham pronounced her the
finest oratorio singer in America.
The “Black Crook,” which has been revived
at Niblo’s Garden, New York, was originally
produced on September 12, 1SGG, and run 474
consecutive nights. It was revived Decem
ber 12, 1870, and was performed 102 nights
and 20 matinees.
^ During the last voyage of the steamship
Egypt, lrom New York to Liverpool, an
rn-acli greater. Aa ! of wnter wor k s , but' prefer tubing file clean ‘ cn '“. uni ^ nt w -‘ s S* vc ? *» < hd <*bm lbr the
its master was finished the monks; concluded
to continue awhile longer, and shaved and
shaved until it cut its very throat and fell
dead.
YVe commend this little story to the other
paper, which monkey-like knows how to im
itate ns and monkey-like does not know when
to stop.
The troth is now that the ilEHAUU went
into that engine business just to catch the
Constitution. Y'on see the little paper had
been imitating ns in every thing we did for
several month-, and we concluded to give it
a seal bard thing to do, nnd then leave it to
da it tqritseU. Ho wo put on the engine.
Sure enough, it followed us. Now we quit
and leave it Now, what shall it do? Its
afraid to quit, for we will langh at it again !
And yet it is popularly believed that $75 a day
is qnite an item to the men of the little paper.
Now next time maybe they won t follow ns so
qnickly 1
Since we have nothing to conceal, we eball
frankly, if sadly, acknowledge that the prin
cipal reason of onr stopping our special en
gine was the "niderieg" of severed gentlemen
who were so lost to "los and honor,” os not
to pay their bills for advertising and sub-
I riptions.
hood for a siDgle moment. When, therefore,
we said that we shonld believe that he misun
derstood Dr. Powell wc meant that and noth
ing more. We have not the slightest objec
tion to Mr. Thurman boring his big well, and
it may even be that we shall driDk some of
its water; but we cannot consent to the tax
payers footing the bill for this prodigious
bore.
The immediate effect ot the New York fail
ure on our market was the almost unanimous
refusal of the banks to make discounts or ad
vances. As a consequence, cotton brought
here on yesterday either sold at a marked de
cline in prices, or conld not find purchasers
at all.
DOSI’T SKLI. VOI R COTTON.
We advise farmers to hold their cotton for
a few days, as it is almost certain that the de
cline which has followed the financial crash
ia New Y’oek, will be of bnt short duration.
Should the government set promptly in the
present emergency, tho money market will he
easier than it was before the crisis, and in
stead of cotton ruling low it will be more
likely to advance to a higher fignro than it
was last week. It is, therefore, best for them
to hold back their cctton for a while.
in which he is treated, of the suspicion with ! the of the failures followed rach other ] ^ter God has placed at our doors, to spend- : benefit of the Seamen’s Orphan Asylmn, which
. I iu quick succession, tho excitement became wilder ing several additional hundred thousand dol- | n . ette « »• I be performers were Miss Da-
which he is regarded, aud of the distrust ex
hibited towards hi
him to remain silent and prove that
there is no cause, whatever, for unfa
vorable treatment. He has thus far pur
sued a very frank and manly
course nnd has excited our heartiest sympa
thy. Day by day he wiil see prejudice and
suspicion disappear more and more, until
some morning be will arise possessed of the
full confidence of the people with whom he
aud heavy blocks of stocks wero thrown overboard
it would bo better for apparently regardless of the prices they brought.
The Express to-night sums up Ihe situation as fol
lows : The d^y closes on the whole with fewer killed
and wounded than might be expected, all things con
sidered. No Trust company has suspended, no bank
lias refused payment. All the great railway corpora
tion* are apparently as firm as a rock. The following
firms have suspended, in addition to those already re
ported : Whittemore ft Anderson, and Smith, 8eaver
A Co.
Ten Millions of Bbnds to be Purchased.
Washington, September 19, 1873.
The Secretary of the;Treaaury, at a late hour to-night,
has cast bis lot. Bnt that day will not be
hastened by such bitter articles as the one | ,;^g r 7pii.7t.' th.7 8 ‘,uunt ^.‘.u^tTeV YorMo
before us. True, it is a brave thing in Major ' purchase $10,003,000 of bonds on Saturday.
Calhoun to write and publish them. It strength ' The President in Philadelphia—A Decided
Change for tho Better Expected.
Philadelphia, September, 19, 1873,
The feeling here ia that the worat has passed and
ens our faith in his boneaty, and gives
us assurance that such a nmn will never lie
upon us atter he has left us; but if he will
put himself in the place cf the Southern people , that to-morrow will witness a decided change for the
better. It is authoritatively stated that neither State
nor city lauds are disturbed.
Oenerai Grant is in town, and w as waited on to
«Uy by proiuiueut and Influential men.
Philadklfhia, September 19, 1873.
Tlie following houses have suspended: U. H. Doug-
he will see that what he uow regards as injus
tice, and what naturally chafes and mortifies
him, aro the inevitable result* of repeated
slanders and abuse by Northern men less hon
est lhau he is -serpeuts whom wo warmed by
our firesides and who afterwards sought to la*«, Bayard, J. H. Yerkco, John Lloyd, Ullbough k
i (daughter of the veotriloquistl. J. K. Em
met, Mr. Martin, of Canada, aud T. C. Green.
The End of the World next Year. - The
lars, to get it from the washings of the
country.
You further state that the commission have
concluded to experiment with wells order
to determine that they will not answer the Adventists are gathered in camp at Spring-
purpose. Now, friend Herald, such a de- field. Mass., and believe that the world will
monstration would cost tho city something, j come to an end in 1874. Their evidence is
and profit it nothing. Whilst my proposition contained in the following quotations:
is to demonstrate that my big well 1 rill an- “I am God, aud there is none like me, de-
swer the purpose, nnd profit the city several \ claring the end from the beginning.”—Isaiah
hundred thousand dollars, and if I fail
it nothing
cost ; xlvi., 9, 10.
“Como near, ye nations, to hear; aud
I can make the city safe on this Utter ! hearken, ye people; let the earthlhear, and all
point, if I do make “much noise on little j that is therein; the world and alltbings that
capital.” Now, friend Herald, let us be come forth of it. for it’s the day of the Lord s
civil and social. I expect to give you many
good drinks out of my big well.
Very respectfully,
F. D. Thurman.
sling us to death.
Tho little paper tauntingly proclaims that
while the Herald lias stopped the Apic al
engine, it h*ill rnnH it. Ju-t n
rush in where angels fear :o tread.
, Co.—all small except Gilbousb & Co.
Run on Jay Cooke, McCulloch A: Co.
London, September 19, 1873.
JiyOx'kp, McCulloch k Co., of this city, have paid
’Fools over tue 1 ounter all day, notwithstanding the iun on
the house.
The Christian Union has a robust tone in
its morality that is in sharp contrast to the
unhealthy cant that is so prevalent in many
quarters. To a querist upon the morality of
card playing it makes the following reply:
“Cards are no more sinful in their nature
thau jackstraws. Under some circumstances
we should reprobate card-playing as leading
to waste of time, to association with bad men,
and always when one plays for stakes. On
the other hand, no one should judge the con
science of those who never gamble; who play
at home, who have been brought up to regard
the game ns a lawful amusement; whose rea
son does not condemn it. Paul's formula is
eminently applicable here. ‘Let not him that
cuteth dt-apise him that eateth not. and let not
him which eateth not, judge him that eateth.’
vengeance, and the year of recompenses for
the controversy of Zion. And the stream
thereof shall be turned into pitch, and the
dust thereof into brimstone, and the land
thereof shall become burning pitch. It shall
not be quenched night or day, the smoko
thereof shall go up forever. "—Isaiah xxxiv. 1,
8, 9, 10.
Here follows seven long columns of figures,
which, by^ a system of calculation peculiarly
the writer s, are intended to prove beyond a
doubt that the people of this world must de
part for nnother in 1874. The compiler of
this remarkable time-table earnestly assured
a correspondent that it was very clear, and
called his attention to the lower part of the
poster, whereon was printed:
“Write the vision and make it plain upou
tables, that ho may run that readeth. For
the vision is yet tor an appointed time, but
at the cud it shall speak aud not lie; though
it tarry, wait for it; because it will surelv
come, it will not trtrrv.”—Heb. ii 2 3