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The morning news. (Savannah, Ga.) 1887-1900, July 24, 1887, Page 3, Image 3

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pkfyixg the preachers broilers claim wall street is NOT A GAMBLING DEN. Sage, White, Hatch, Connor, Smith, Jameson and Other Kings of Finance gay That They and Their Business Hava Been Misrepresented They Tell of the Good Which the Stock Ex change Has Done—Hinting That the parsons are Soreheads Who Have Experimented on ’Change—Connor Pays no More Attention to Them Than to the Anarchists. Xkw York, July 23—Wall street! A name to conjure with, synonym of bound loss wealth, a maelstrom of molten gold that swirls and swirls forever, seizing all that comes within its grasp with a clutch that defies escape; dashing some to destruction on hidden rocks and throw ing others up to the dizzy pinnacle of the highest wave. What a fascination it has to men, and even women who look at it. Few outside of the street itself understand the ways and methods of financiers and brokers, nor can they tell how the sudden rise to wealth or fall to poverty has hap pened. They do, perhaps, have a dim conception of some ways in which manipu lation may he nppliod to stocks to make them shrink or rise in value, but precisely bow such results may be brought about is what they are profoundly ignorant of. This ignorance has resulted in producing a kind of superstitious feeling against Wall street among quiet people who have never speculated. To them the Stock Exchange is the temple of the golden calf and all tne brokers are demented worship ®rs. The recent passage-at-arms between Gould, Sage and Field has been made the occasion of a spirited charge on the herds of Wall street by several prominent clergy men in different parts of the country. In deed, for many years a great number of preachers in the United States have used the Stock Exchange and the brokers who do business in it as a kind of stock evil. When there has been nothing else particular on hand to denounce they have poured out the vials of their wrath on Wall street, using it as a synonym for Sodom, and referring to the havers and sellers of stocks and bonds as somewhat worse than ordinary thieves and gamblers. Last Sunday the subject was the theme of scores of pulpits on account of the recent flurry. Brokers are thick-skinned and can stand a good deal of denunciation, hut it occurred to the writer of this article that it was about time to give them an opportunity to tell whether they really were such bad men as the preachers made out, and what made them so, if they were bad, and whether there was no hope of a religious and moral revival among them. The writer thought also that, seeing that the ministers had been so frank in their expression of opinions about brokers, the brokers might lie mdimed to be equally frank in expressing tfcagr views about ministers. Therefore Ik' set out on what proved a very interesting tour. Mr. Washington E. Connor, who was for so many years Mr. Gould’s partner, still carries on the business at the old stand, 71 Broadway. He proved to be a man who did not scruple to speak his mind with great plainness when the subject and the questions it suggested were presented to him. He said: “A minister who is intelligent must have a broad mind and only give as facts what he knows to bo such. Statements coming from any others are not worthy of a mfo ment’s consideration. I have never yet seen Wall street attacked or the New York Stock Exchange assailed as a gambling in stitution by any man whose intelligence I could respect. I have the greatest contempt for bigotry in any form and don’t care fiA the opinions of bigots. The business of W all street is the same as any other business; dtrl estate, for instance. Say a man wants to buy an improved piece of property for 650,- O<X). He pays $25,000 in cash and gives a mortage for the balance. If his judgment is good and the property advances he makes a profit, and if his judgment is poor and the property depreciates he makes a loss. Some times the depreciation may he so great us to wipe out all the cash invested and not leave enough value to pay for the mortgage. Now a man in Wall street selects a railroad stock and invests $50,000 in it, paying one half cash, the broker who carries the stock advancing the balance. If the purchaser selects the stock of a railroad running through a growing centre and one that is well managed he will make a profit. If, on the other hand, ho does not make a wise -election he will make a loss. To my mind -he transaction in stocks and the transac ion in real estate are precisely similar. There is not any business in the world where lieu are as honorable and true to their words is the men of Wall street. Transactions nvolving millions of dollars in value are aade every day by mere verbal agreement nd a dispute of any kind among the parties taking such a transaction is very rare. I islike very much to meet a question of this ind because I think it can only he raised V people of narrow minds who do not take le trouble to become acquainted with facts, is a very simple thing to start an evil unor. Most people seem to ho born with a sposition to accept without question any alicious statement that may Is' made about i individual or individuals. The ministers tve no more right to condemn brokers as a sly for the faults of a few than the brok s have to condemn the ministers for the mr.-i and sins which members of their body easioually commit, much to tho scandal the community. This is a great country voloped by railroads. To have railroads u must havo securities like stocks and uds and to soil the stocks and bonds t> must have brokers. To tell the ‘th, I don’t, more attention to the teranocs of preachers who attack Wall than ! do to the utterances of the uuvhists, Herr Most and Schwab and the They condemn a class upon tho ml of one man and they never take tho ‘ ™ t j find out whether or not he is 'nking tho truth. I respect such msters and their congregations just as ich as I do the Anarchists and not ouo hit >re. ” Jr. James D. Smith. President of the w y ork Stock Exchange, was enjoying , ,l ’agranee of a fine cigar in his oillce in 1., fijs Building on Broad street, near in, " hero tho writer stalked him. After finismg that lie was tho son of a minister “ diemforo, wanted to go light on tho /sons ho said; for a little more than twenty years I in 111 r °ker arid banker in Wall B' foro that time I had been engaged mercantile pursuits, I have been much Jt the world and have associated with cinss<<s of society,and I have never met a ie honorable, industrious, Intelligent, it liable and consistent class of men than “broken] ~f the New York Stock Ex nge Their word Is their Hind, and they ' . u l' ko their agreements with the utmost jyr biith. The business intrusted to bros '" the most important tve havo in the hrfl .' or means of it tho greatest 1 "lessi interest* of the country are estab , Exchange is the pulse, the heart dot,. i ,H)ln s of the financial and in l l< *‘ interest* that help to make the ikti a *’ utes "find If now * s - ° r ot least is o tho' w t °|* >oco,no i the great financial urena S(l l M lv nrd to tho so-called gambling in ii,i,!v i 'dt* is animadverted upon by some ''‘’'sis, jt is generally found that it ~ 111 1 r "tn jioonlo who have taken what is hi I" ,l 'flyer’ for an unexjiectad rise whicli ‘ ?* , ‘omo. The venture lias proved ill- Jil , 1 “fid |s>rha|> unfortunate, and not h .j ' "lame their misfortune u|sui them , i’’people in question turn upon tho brokers, who only act a* their agents tion 11 ? o(ler *te margin. Tho misconceiv risi f® P People ft tta, k us largely w- th* ti“ ir ignorance and inexperience “loir prouonau to lay upon others faults which originate with themselvc s. The Stock Exchange furn'shes the mor e/ to build lailroaus all over the country, opening up the waste places, connecting produce with its market and creating the Exchanges of natural trade. In fact, the great industrial activities of the country receive their im pulse from the communications established by the bankers and brokers. They do not fear criticism or their critics.” Congressman Htepheu V. YV iiite, Treasurer of Plymouth Church, Brooklyn, is the Ad rmnible Crichton of Wall street brokers. Ho is a poet, an astronomer, a lawyer, an art connoisseur, a journalist and many other tilings besides. And he is good at every thing he ha* undertaken, from poetry to the manipulating of stocks and bonds. In height and build he is much the same in ap- I>earaiice as was Gen. Grant, and. he xveurs a full dark brown beard, ns did tho Gen eral. He thinks clearly and expresses him self well in few words. After the subject had lieen introduced ho asked tho writer to put his questions on paper. When this was dono he wrote the answers, and the inter view apnea red as follows: Q—Define gambling us distinguished from legitimate dealing in stocks. Mr. \\ liite—l am not given to over nice distinctions. There are some people who call all speculation gambling. tin that theory a man who buys real estate which he does not actually need and holds it for a rise is a gambler. Ido not so consider it. Legti irnate speculation in stocks is carried on xyhen a man buys xvhat ho can pay tor, or amply protect his broker in paying tor, and holds it for its income or expected enhancement in value. Gambling in stocks would be where no stocks actually changed hands, hut the party trading risks 1 or 2 per cent, on the first fluctuation of the stock after buying it. I have often bought stocks which showed a largo loss before they showed a large profit, hut holding them on their merits and disre garding the fluctuations, they paid well in the end. Q —What is the extent of the gambling which you admit exists in stocks* Mr. YVhite—l don’t know. There are bucket shops ail over tho country which get Wall street quotations and back the game against the public by charging a commission and taking the risk against the dealers, no matter on which side they deal. Q —ls them any remedy? Mr. White—Npbody has found one yet so far as I know. Mr. Russell Sage is known all over the UnitedStatesnot only for his immense stock operations but also for his charities and his activity in city mission work. He li.as for years been panting for an opportunity to put the ecclesiastical tradueers of the bulls and bears to rout, and though he makes it a rule not to talk to reporters, he broke the rule with great promptness when he heard that theionged tor opportunity to defend Wall street had come. In reply to a question ns to whether or not the brokers and their business had been misrepresented, he said: “I have been in business for more than forty years and I have been actively engaged in business in the city of New York for thirty years, and my transactions have been con sidered large. Speaking from that exper ience, I can say that I never dealt with men of more integrity than the brokers of the New York Stock Exchange. It is a well known fact that out of every 1,000 men taken at random from any place there will always be a certain percentage not up to the standard we like to see, but, taken as a class, the hfbkers here are far above the average of men in different parts of tho country, in uprightness anil honesty and sense of* jus tice, and I venture to say that taken as a class they compare favorably in moral char acter and acts of charity and wholesome ex ample with tiiose who criticise them. The denunciation from which we suffer comes fftrttn men who have suffered dissappoint ment by reason of having attempted to teach a business which they did not under stand to people from whom they ought to learn. The consequent loss entailed upon them from tho want of acquaintance with the business they attempted to teach has made them hitter.” “In other words,” said the writer, “you mean to say that the clergy have come to Wall street to shear lambs and have pro vided the wool themselves?” “You put down what I say, now, it don’t require any explanation. If the shoe pinches any of the clerical readers let them xvear it. As to the evil of gambling in Wall street, which the preachers declare to be so wide spread, I have never observed it in the twenty-five or more years that I have been in business here, and from my observations in different parts of the country I think that tiie percentage of gambling is lower in New York per capita than in other places. In saying this I don’t mean to deny there are men among the brokers who gamble. What I do say is that they are as insignificant per centage. There always has been gambling so far as we can trace history back, and I suppose there always will be till the millen nium. Why, if brokers were anything like as bad as some people try to make them out we could not conduct our business. It re qnires the highest sense of honor to sustain a Stock Exchange, and ours is the best in the world. The London Exchange is looked up to by all Europe on account of its solidity, yet in comparison with ours it is very snaky. We have nothing here, ex cent at rare intervals, like the excessive risks and fluctuations of the London Ex change.” Tiie next was a kind of joint stock inter view with Mr. Joseph A. Jameson and Mr. WilliamE.Moorehou.se. Mr. Jameson is the partner of <\>ni. Smith, President of the Exchange. Mr. Moorcbouse is a well-known public school principal. They side-tracked their conversation when the reporter came upon the scene, and pulling open the throt tle valves of their oratory shot out on the main line of Wall street’s defense as fol lows : Mr. Jameson—There isn’t enough gamb ling going on to suit me, if they call buying and selling stocks gambling. It is about as much gambling ns dealing in Hour or pork, and no more. The Stool; Ex change is one of the most valuable institu tions to the nation at largo that there is in the country. It is an absolute necessity. People are deceived, because in place of handing over property we hand securities which represent and give possession of that property. I've been in Wall street for twenty years, and I find the brokers the most dooent, honest and liberal men I over came in contact with. Every day, though business is dull just now, there are trans actions to the extent of twent* or thirty millions of dollars in the Exclvmgo, almost ell by v.ord of mouth and all faithfully lived' up to, except iu raro cases of sudden misfortune. , Mr. Moorehouse—Whoro would this country bo if it were not for Wall street being willing to put money into new enter prises! The capitalists are the pioneers who open up the wilderness to sett lament. There’s no doubt about the matter, the preachers havo set us down ns a bad lot. There Is gambling in stocks and bonds, ami t he par sons have caught the idea that all our transactions arc gambling. If they knew more they would probably say less. I rememlier one time I went to church up in the country. The minister took for his text the words. “And hot pitched his tent towards Sodom.” Other subjects were rather scarce just then, and he vrunted to take a round out of Wail street. Ho ela borated his theino quits! skillfully, too, telling how virtuous Abraham chose the mountains where t he pasture was poor, but where morality and purity wore rich, and how erring Brother Hot chose the valleys w hero the grass was green and deep, und became rich in all material things but a beggar in regard to virtue. Then ho went on to apply the lesson to the present day, declaring that. New York was full of men like Lot, who went down to Wall street and indulged in shady transactions, which made them rich in jxx-ket but i*ior in honesty. Mr Jameson —I guiws the ininistei*s just come at us to have a little fun once in a while They don’t mean any harm, there is tumbling in the bucket shops, no doubt tllat It’s a bad thing and I wish the Is-gislature would pass a bill rewtrulmng it. We are not responsible for it, though, as al , man who knows the method of the bucket shops understands. They could THE MORNING MOWS: SCNDAV, JULY 24, 1887. gamble in flour, cr in any kind of produce ior that matter. The really bail people are those who come down to Wall street for the purpose of skinning the honest brokers. If tuev max© a rile of money they go away smiling, but if they happen to lore, they immediately howl and complain that they have fallen into a den of thieves. Mr. \V. T. Hatch, a line-looking gent 1A man who has grown white-haired in Wall street and whose bank and broker’s office is situated at 7 Nassau street, is now, and has I'fen for years, Treasurer of the ltev. l)r, Storrs’ Church of the Pilgrims in Brooklyn. When questioned a little he warmed up in defense of Wall street and the Stock Ex change and said: “There is no place this footstool where so much straight, honest business is transacted as is done in Wall street. I think the brokers of Wall street are the best class of men I ever met. Then words are entirely trustworthy. There are exceptions, hut they are very rare. I may sell another broker SIOO,OOO worth of bonds, and between the verbal side and tho payment they may drop three or four points. Yet he would never think of repudiating the sale, although under the rules of the Exchange I am precluded from suing him. In what other business will you find such honesty prevalent? Disputes anil quarrels among the brokers are very rare. If on the floor of Ihe Exchange a sale is made to me and another broker beside me claims it ns his we appeal to those standing near. If they are not able to decide the question mv opponent turns to me and says, ‘I match you,’ and each rests content with the result of matching coins. To tell you tho truth, 1 don’t think the ministers who denounced Wall street and the brokers have the slightest knowledge of what they are talking about. A good many ministers buy bonds, and if the bonds increase in value they don’t think it wrong to take tho increase. That is precisely how we make our money. It is rather a strange thing that ministers who have so much to say ahout tho wickedness of Wall street are willing enough to take money made in Wall street. Of course there is gambling in bonds and stocks, hut it is infrequent, and those in legitimate brokers business do not como in contact with it. I don’t know whether or not it could be stopped.” Mr. Jay Uould has had quite a heavy siege of sickness lately, and has been con fined to his -house for more than a week with the exception of brief outings. His son George, a very dark comploxioned young man of 24 or 25 years, received all callers at his office during his übsence. Mr. George Gould is a member of tho Stock Exchange and a great favorite there He is of medium height and rather Stoutly built. His hair, eyes and moustache are biack us ink. liis features are strong enough to vouch for his possessing plenty of energy, yet there is no trace ol' ill lmmor there. He has a very bright smile and a good set of teeth, and a pleasant, democratic way about him. Ho looks like a very worthy young American, and those who know him Viest say that he is. Speaking for himself and his father he said: “My own experience in the Stock Ex change hAs been very limited, You know I have lieen there only a few months. What experience I have had has been pleasant. 1 like the Exchange and the brokers. I know of no gambling there unless they call specu lation gambling, and if speculation in stocks is gambling speculation in all kinds of pro duce mustalso be gambling. My father is not in Wall street now. He has not been a member of the Exchange for over a year; not since he dissolved his partnership with Mr. Connor and moved from 7! Broadway. 1 know that he always speaks pleasantly of the street and brokers, mid my views are his on the subject of the transactions of gambling which are so frequently made. I think that denunciation is aimed at him because it is fashionable, I suppose (laugh ing). I know of no other reason.” Sydney Reid. “THE OOLAH” AND ITS NOVEL PLOT. Not a Brilliant Outlook for the Drama the Coming Season. New York, July 23.—The opera des tined to succeed “Erminie” at the Casino has been written and accepted. It will lie pro duced in January next, or else tho Casino must forfeit S2,(XXI. The opera is the work of Sydney Rosenfeld and the property of Comedian Francis Wilson. The latter is an admiral do business man as well as a capable actor. He bought tho opera outright from Rosenfeld on his own judgment, paying down a large sum in cash, and then made his dicker with the Casino. If it is a suc cess it will make Wilson’s earnings very large. He receives a salary of S4OO a week, and this with his royalties from the opera ought to give him ail income of forty odd thousand a year. The new piece bears the rather extraor dinary name of “The Oolali.” It has to do with the marriage laws of India. The gov ernment, according to Mr. Rosenfeld, hit upon a happy scheme for annihilating all marital unhappinessg. Whenever there was a row in the family the wife was in stantly granted a divorce for the asking. The plan worked well for a wliilo, but then it was found that tho wives often wanted to remarry their former husbands. This hurt tiie feelings of the government, and it demurred. Finally it hit upon a happy de vice and allowed the divorced people to re marry again if the wife had meanwhile been married again to some other man for the term of one year. It occurred to and enterprising citizen to put himself up in open market for the post of middleman and allow himself to be married nominally to all divorced women, that they might subse quently regain their former husbands. He was called “The Oolah.” This is the part tha„ Francis Wilson takes. The trials, tribu lations and [lerplexities of a man who acts in the capacity of husband for all the di vorced women in India may lie imagined. The opera ought to lie very fuauy. Tho public is fond of the comedians. Everything of interest about them is eager ly read and talked about. The other day Henry E. Dixey went to an Orphan's Homo In Chicago, and the story of his visit was instantly telegraphed all over tho country. He, like Wilson, is a man of keen business intelligence as well as of artistic quality. Ho is a partner and director of the Bijou Opera House in New York, lias an interest in two big burlesque companies, is back of the movement to bring Comedian John A. Mackey out in anew play next, month, and meanwhile he keeps “Adonis” going iner rily to tiie tune of ©personal profit of about $(10,000 a year. It takes a shrewd head to win at every turn. Plans are made out far ahead. Dixey now lias in his safe a. com plete burlesque of Irving’s “Faust,” which has made such a distinguished success in liOnrlon. The American comedian will do the burlesque next year after Irving has made his tour through the countiw. I be lieve Dixey has not yet given the fact* alxiut this burlesque to the papers. Tho news was cabled from London yesterday, and the cat is out of the hag. It is not easy for a man of Dixey’s prominence to keep such a secret. No one to look at the nimble and mirth-lov ing “funny men” of the stage, would give them credit for having such long heads in business matters. I wonder if they havo time to manufacture fun. The outlook drainat : oallv is not, brilliant. The theatres are going hack to stock com panies. Harden lias written nothing new, and with one iinrortant exception the native dramatists do not give promise of great re sults. Tiie exception is the play now in the hands of David Belaaco, nnd his rolaboni teur, Do Mille. One has rugged dramatic strength; the other polish an 1 general liter ary equipment. The two men live together with their families in the country, coming to town one day every week to confer with Daniel Frohman, the manager of tiie Ly ceum Theatre, where the play will lie pro duced in the fall with the new stock com puny. Belasixi is black-headed, black-eyed, sallow, thoughtful, intense, slow, forceful and solemn. 18* Mdlo is light haired, light eyed, thin, cheerful, casual, talkative, humorous, and learned in textbook lore and stage history. The combination of these two types may not bring forth n great sucomiMH, but it will certainly avoid the rock on which so many American dramas have corns to grief—tiie commonpi.toe. Blakely Hall. FLURRY IN THE STOCK EXCHANGE What the Progressive Elemont is Try ing to Bring About. New York,July 23. —ThoHtoek Exchange is frightened. It may seem strange that an institution which has always assumed to be invulnerable should he frightened, but it is merely a big fowll of the air at which tho king bird is picking with such success as to threaten its life. The king bird is the Consolidated Exchange. There is grave consultation among the members of the older body as t o what shall be done. They regard themselves as noble old Homans t hreatened by a horde of Goths, Huns and Vandals led by financial Alarics, Attilas and Gcnserics, and t hey have appointed a committee to inquire into the causes of the decadence of the Exchange and its business. A well-known member of tho Exchange said to me in discussing the question: “The conditions of stock speculation have changed very materially within the last ten years, and the Stock Exchange lias not adapted its rules and methods of business to these changes. There are the encroachments of the Consolidated Exchange with its commissions of one-sixteenth each way, and the weekly instead of daily settlements, an idea which was adopted by the new < 'hicago Board of Trade Stock Exchange. There is tho competition of the bucket shops There are 5.000 of these in the country and they do a business of at loost $1,000,000 shares a day. There is tho more rapid spread of business intelligence, which tends to narrow the fluctuations and thus check arbitrage trading; the ticker and the telephone anil the rapid development of the telegraph system. have worked a revolution in the methods of disseminating business news. The Stock Exchange commissions should he reduced to one sixteenth of 1 per cent, each way, and some means of reducing interest charges should bo devised. As the miles now stand a firm buying stocks is obliged to send a certified check in payment lor them the next morning. The transactions are so large that no firm has capital enough to handle the stocks as fast as they come in and this leads to overeertification of checks. This at one time ran to such an extreme that Congress passed a law making it a penal offense for a twink to overcertify a firm’s account, but the banks got around the law by stamping the chocks “Accepted.” With fortnightly settlements such as they have on the London Stock Exchange, less capital would be required in tiie stock brokerage business, the firm could Ik: pro tected by calling margins as needed and tho first margin, instead ot 5 or 10 per cent.. as now, need not in many eases be more than 1 or 2 per cent., and this would cut into the bucket shops. Reducing the commission charges one half would or course also help the Stock Exchange, and by the fortnightly settlement system there would naturally lie no interest charges, since the stocks would not be paid for until the usual set tling day.” This gives a rough idea of what tho more progressive element on the Stock Exchange are trying to bring about. There have been many consultations, many conflicting theories have been advanced and tiie com mittee is still at work. Home of the best known brokers in Wall street are actively interested in the •miter alul believe in revising the rules and mb? hods to meet tho demands of the times. They say they do not want a ClearingJlouso for stock busi ness, but would ostalUjjjb what there-term an auditing department ittflio Stork Exchange, and names could iio furnistfed to traders with whom they could finally adjust t>k''ir transaction- so that (he deliveries of stocks could lie made directly between the trading members. In the gold panic of l.sffj some gold oiKT.iroi's were ruined because they put their gold in the clearing house and could not get it out. So the stock brokers object to a clearing house ill the. strict sense. < )ne advantage of the weekly or fortnightly settlement system is that it tends to remove the possibility of panics growing out of a s jueoze in money. One of the facts obvious to those who have given the matter attention i$ that the fluctuations in stocks are much smaller them formerly. From 187!) to 1882 they averagixl 1 ' * to 2 per cent, a Gay, whereas ’within the last few years they have narrowed down to an average of to 1 per cent, a day. This renders it difficult for the average operator to make any money and arbitrage bouses trading between New York and London, Paris, Frankfort and Amsterdam, and also in tliis country between Now York and Chicago, Boston and Priladelphia, complain of tho steadily narrowing market. The big buying on the bucket shops, of eoui-se, counts for nothing; it has no effect on the market, hut if the same buying were trans ferred to the legitimate Stock Exchange it might have a very decided influence on the fluetutations. As it is, the bucket shop keepers simply “copper” their customers, and one of the obstacles to a return of bull markets is that every now and then tho bucket shop keejiers give orders to sell ten or twenty thousand snares in order to heat down prices and swindle their customers out of their margins. The refusal of the Stock Exchange to revise its rules and at tack the bucket shops in lln only really effective way has given the Consolidated Exchange and its 2,000 members a great advantage, and now tiie older body is so thoroughly alarmed that it is trying to struggle out of the quagmire into which its own arrogance and obtuseness have thrown it. Some of the larger firms on the Stock Exchange oppose auv chance in direction indicated because it would give the smaller houses an equal chance with themselves, but it is reasonably certain that the Exchange as a bisiy will take some remedial measures at no distant day. Oscar Willoughby Riggs. THE SUMMER BREAKFAST TABLE. What It Ought to be--Some Hints About it. Nkw York, July 23.—T0 those who enjoy the luxury of a cottage by the sea or else where, provided it he in some cool delight ful place, a word or two may not bo amiss in regard to the proper arrangement of a summer breakfast tablo. There Is a philosophy of table setting as well as a philosophy of tho unconditioned. The summer breakfast table, to begin with, should never bo overloaded. It ought to present a light, airy, dainty appearuijrc, iy keeping with the season, and the diaphan ous toilet of tho mistress of the house. Nothing is 1 letter calculated to make one warm and uncomfortable than on corning down stairs in the morning during summer to find a breakfast table loaded with heavy sliver and smoking viands. The ideal July and August breakfast tublo is something like the following; The cover must beof nn ojien work pattern resembling lace and allowing brief glimpses of tho shining mahogany beneath to lio obtained. Tho service should be entirely of delicate porcelain and cut glass, with tho exception, of course, of the knives, forks nnd spoons. Nobody wants to drink boiling coffee at this timo of the year; or, if any one does, that person is to lie set down at once as either having been born without a palate or else utterly devoid of common sense. To put ice intoeoffoo is an abomination only to Is* conqsired with putting ice into cliainpagne. Properly sjs'nkmg, the coffee should te made in tiie iwening and set away on the ice. so that it is deliciously cold on the following morning. Tho accompaniments to this nCraMaf drink me (imply nine irreproachable bread and some impeccable butter, with perhaps, the addition of a little fruit. This is breakfast enough for any civilized person at this season. It is materially satisfying, and if the ae'*eitori* Iki tasteful, as, for instance, a hunch of roses for tho centre of the table, some fresh green leaves about the fruit plates, and a bright ribbon here and there, ft is artistically grati fying as well. Clara Lanza. Phillips’ Digestible Cocoas Makes a very delicious and nourishing drink. It is particularly adapted for persons of wank di gest lon. differing therein from all other cocoas in the market. In half round and rive-pound cusus. kept by all druggist* and grocers. CHEAP ADVERTISING. ONE CENT A WORD. ADVERTISEMENTS, 15 Word* or i nnre, in this column inserted for ONE CENT A WOUD , Cash in Advance , cac/i insertion. Everybody who has am/ leant to supply, anything to buy or sell , any business or accommodations to seen re; indeed,any urish to gratify , should advertise in this cohnim. PKU i \AU | > ATS.—Tt KSDAY. 1:80. STAR. HELP \N ANTKD. V\ r ANTED, salesmen for notions, hosiery a?ul ▼ ▼ domestic doiMiitimnita; must have exj>ori ence in first class houses. Apply, with refer* enoes and full particulars, to SUPERINTEND ENT. at Qufttare Kckiteio St Cos *s. VITANTED, ft bookkeeper at once who unde ▼ ? stands his business thoroughlv None but first -clans need address BOOKKEEPER, caro Morning News 11 r ANTED, at once, young man as assistant ▼ t bookkeeper and cashier; must bewellrec ommended. Address DKY GOODS, care News office. \V T ANTEP a wotnnn to cook and do general ▼ ▼ housework for a family of three Apply 18a Taylor street, Monday inoruing \\T ANTED, white girl to cook and assi*£ fn ▼ ? light housekeeping. Address HOUBE KEEPER. Morning News. VET ANTED, several experienced dress goods '▼ salesmen; also salesladies and cash boys. Appl> i >A. R. ALTMA S Ett & C< >. \\T ANTED. cook and steward. Apply to ▼ CA PTAIN on boanl steamer, St. Nicholas. \\ 'ANTKD, two first-class Horseshoer*, at P. M - troad street. I\KU(IS.- Relief clerk wanted from Aug. Ist / jist. Ad lress J 8 M News of \\ r ANTED, six agents to represent the *‘Na ▼ ▼ tional Library Association;" lileral pay; no I>nnk canvassing. For particulars address P. O. boi 805, Atlanta, Ga. 1 A A AGENTS WANTED AT ONC R Ip'bu New article for ladie* only. You can make $25 a day. Mas. IJ. F. LITTLE, Chicago, 111. EM PLOY M ENT W A NTED. 11 T ANTED, work of some kind by a strictly ? ▼ soberand industrious young man of e< iireet habits, has had several years experience in bus iness. W ill do anything honest to make a living. Good reference, satisfaction guaranteed. Salary no object. Address K.. can* Morning News. \\ r ANKD, situation in cotton, naval stores or y ? mercantile house, by young man who has a thorough commercial education. For purlieu lars and references address BUSINESS, care Morning News. \V r ANTED, a situation in a wholesale house f ▼ by a young man; references given if re qulred. Address G. S., cure tliir, office. MI8( ELLA \ EOUB \\ A NTS. WANffF.I), rooms; three unfurnished rooms hnLidii and wife without children; give terms anr location. Address ROOMS, News office. lIT ANTED. 1 wish a teacher teach me the, ▼ ▼ English Address ENGLISH, this office. WANTED, south room, unfurnished. Ad tv A., 57 Gordon street, Monday ami Tuesday. ——— ■!■— - “ VI r ANTED. ntuAn to perform on bun jo, and ▼ ▼ mesiuca/e anyoiiy, in advertising medi cine from staled iu street. Address E., News office. „ . , \YTANTF.II to correspond with reliable Tur ▼ V peutine Operator; object explained by correspondence. Address A. J., Sumner, t la. 1 IrANTED;.l r ANTED;. Isn Association stock. Call >Vf during forenoons at our office, 74 Bay street, .1 8. W(>OD & BRO. Hi K>HH TO RKNT • I\>R RENT, one large lied mow on parlor door, nnt’i vanished. 'Fable boarders wanted. At % Congress street, corner Abercom. T7MJR RENT, m-atly furnished small size 1 room; suitable for a gentleman; terms model ite HIM '-ng!e- - : |PC>R KENT, 1 wo southern rooms, cheap, with I us#* of bath room; splendid locality. Ad dress X. Y. V... this office. TT'OR RENT, two handsome Hate, jwirlrtr and 1 second floors. Reasonable. Address BULL STREET, this office. IT'OR KENT, nicely furnished south rooms with every convenience; $5 and SB. 41 Broughton street. IV)R RENT, large and small south front rooms, furnished or unfurnished, at 5b Broughton street. 17H)K RENT, furnished froom cheap to gentle men. single beds, 151 York street. Mas. L. SMITH. I.X)R RENT, two or three nicely furnished rooms. Apply at 14h Hull street. RENT, large, cool rooms, with board. 50 Barnard street. ilorsKS AM> STORKS JFOlt RENT. IX)U KENT, three story brick house; eleven I rooms; water, gas. etc.: brick outhouse and stables; rent %■£, month; locution very cen tral; possession given immediately. DAVIS I .''OR KENT, house 30 York street, between llalici'Hhnrri and price. Apply at office Mc- Donough A iiallauiync, or 58 Bryan street. H< d;r V, AIUUCK. 17*011 RENT, the two new houses on Harris, 1 next to the comer of Tattnall street. Ap ply at No. 40 Whitaker street, Guards' Armory. TrlOS DANIELS. 17'OJl KENT. new liuilt houmj, V i!h modern pa* fixture*, rooking no I pest, hot mid cool water; rent rruxirnib, bALOiION COHEN. RKNT, two-story hoiiKo* on Hull strt-ot. r fourth wost of l'Ji-it, Hroari: liir>;n yards; oveu room, on li. Inquire on premlitoa. sl2. ITtOH KI£NT, Am;. Ist. :i sovtui room hotnm. r A;n>ly at LOUIS V'OOEL S Store, JelTeraou and w uiTUmv lane. iTtoit RENT, store ISOonitren street; pome. slon given Immediately. Apply to K. PC >WER. IT'OR WENT from Oct. Ist, three story brick r home, No Hall J. C. KOWLANb. KKNT. liouse. Apply to \\ M. UOIHIAN, I lluntlnydoti and Mercer derei-t*. |7OR KENT, LEASE OR SALE, those* two I double tenement. Nos. IS an 115 Halier sham street; four stories; brick building.-., and larjte outhouses; water and exs tUrouallout. W. J. IIARIT. IAOR KENT, from Ist Octolsr nent, brick 1 store No. 11U UrouKhtou street; threo st.vrles on cellar; ,'ktxllO feet distp. H J. TH ( (MASSON, in H yiir,. near Drayton street. I,V)K RENT, house on Tattnall, between Harris * *o4Liberty,treet,i, with all modem tm provemaws. UEO. W. PAItIBU, No. I'M At. Julian street. IAOR ItlfctiT. two deslrablo brick dwellings, convidllrntly located. Apply 53 Harris street. r pO RENT, house, Jones street, near Abereorn; 1 house and store, Hryan street, near Mont- Komery; two stores, 71 and 7-! Itay street; throe floors and cellar; one store with engine, boiler and shafting J. H KUWE. KENT, 140 Hull, on nortliwe.t coriear of J Whitaker. Apply to Hit. I'UlttSE, l ldUborty street. FOU H4iN 1 MM LLI.ANEOUS. IAOR KENT, two nice Plano.; Plano, and Or- J nans moved at bottom price*. DAVIS BROS. —■ ■■■■■hi FOR WALK. A.i/pYILL BURCHABK a Cow andTcaTf; —' " :Ia Htnr to i••lit .!< >H N(. .*• Mn il I7VJR RALE, f’art. Corner Montgomery and I Henry stre*t. lane. _____ I7K)R RALE, at, private sale. tbcisbH*k of Cloth- I I rig, itc., contained in t4re northeast cor ner of tteuth Broad aud Jeffcrirou. C. U. DOR- i BKTT. J FOR SALE. MILCH COWS A few choice milkers for sale at Dt p (’ox. Stai.les. \f.\TCH PONIES. Pair ivd bay ponies, well j 1 broke to harne.sa, rafe for anyone to drive, at COX’S STABLES. Also, pair unbroken iron gray*- / CAROLINE and Kerosene Rtoves. No heat; no danger; pure gasoline. A. H. OLIVER, 11>2 Broughton Htrcet, TTORBKB MULES Largeat and i I 1 Texas Horses over tuilpped here; gentle Htock; also lot Mules, at COX n STABLES. LX)R SALE. ROSEDKW Lou, 80 feet on I Frout str****t along the river and 500 f(*t d66p, at $125, payable $25 cash and sl2 50 ev*ry nix mouths, wit h Interest. FI NT’. ACRE liOtsilithe TOWN of UOSEI>E\V, with river nrivilegea, at SIOO, payable S2O cash and ssevery three montlw, with interest. Apply to Du. FAI.LIGANT, 151 South Broad street, ' to 10 a. m. daily. 8U MM ER R ERORTB. NEW YORK CITY VISITORS can And cool, newly furnished rooms, with or without hoard, at 11 West Eighteenth street, between Fifth and Sixth avenues; moderate prices. i E MARKILLIE /j. *1 PER DAY. T.aige! elegantly furnishbd O rooms aud unexeeptlonanlc table; Cent ral location: fine surroundings; Southern reference. 160 East Twenty lirgt street, Gramercy Pfitrk. C. F, HUDSON ‘ QTRICKLAND’g SPRINGS HOTEL -J-arw grove; cool, quiet. Take Air lino Bell I. N. STRICKLAND. Duluth. Ga. PHOTOGRAPHY. CPECIAL I Kt; PHOTOGRAPHY PHchb reduced Petite* $i 50, Cards j'2. Cabinet $d ]>er dozen, and larger work in the same pro portion. J. N WIIJ3ON, 21 Bull street. MlslKUANiOis. \ r OU will save money by buying Trunks at, I M< h INK'S TRUNK 'FACTORY, Lincoln and Broughton streets Repairing a hjmvlaity. All work delivered free and satisfaction guaran teed. ___ (TL( >THI NG eUsined, repaired, braided, altered J and dyed: new suits cut and made in latest styles; charges moderate; satisfaetjrvn guaran teed. A. GETZ, tailor. 11 Jefferson street. SEASICK? No need to lie. If you are going to sea, get a bottle of PORTER’S Remedy for Sea Sieknew, and Is* happy. Ouly fifty rents. 1 2 ! ilroughton street. I F .tini want your Clothhig renewed, repaired, braided, dye i. remodeled, aItCW to suit your taste go t<> S. WHITE'S, cqruer-Jof ferson and State streets. r rBUNKS. TRUNKS, TRUNKS. SAVANNAH I TRUNK FACTORY is rbo place to get a good Trunk clffiap. 88 Whltakdf stteet. l ni MoBRIDI Mpntgomery el • street. Estimates on House, thru, and Decorative Painting furnished upon application. IT 1 LEG ANT SARATOGA TRUNKS made t*> j order at two day’* notice at SAVANNAH TRUNK FACTORY, State and Whitaker. I>RICKL\ HEAT IND ( U kFING A sure cure is “Boroeitie,” a superior Toilet Pow der. Sold by all druggists. IT'OR SALK CHEAP, Trunks, Bags add Va Hsch; also Straps and Keys of all kinds. 83 Whitaker strwt. M ADAME a. A. SMITH wants everybody to know that she has not left old Savannah, but has changed her residence to No. GO Price street, southeast corner of McDonough. \\ r ANTKD. Trunks for all kinds of repairs; Imvß of work guaranteed. SAVANNAH TRUNK FACTORY. \NENV lor of Chamois Skins at 5c.; extra nice. LIVINGSTON'S PHARMACY, Hull and State streets. ~ LU DDKN A H ATES S. M. 11. L.&B.S.M.H. The Longest Pole Knocks the Persimmons \\7E OFFER BETTER INSTRUMENTS, LOWER PRICES and EASIER TERMS than can offered by any other house In our line, and iu consequence we are flooded with orders and correspondence requiring Knights of Labor AND Days of Toil to keep up with the runh. Can it lie possible that in this hilt weather* with the theruibmeter so high as toendfttiger its safety, that) people are really purchasing Pianos and Organs? YEA. VERILY YEA! If you have any doubts os to Uys, call In and lot uh show you indtsputahto pribOfs of wjjat wo say, and convince you that order* at hoitw- and from abroad are ACTUALLY CROWDING UG. We offer you a Buperb lino froln which to #oleet. Chickering, Mason & Hamlin, Mathushek, Bent & Cos., and Arion Pianos. Mason & Hamlin, Packard and Bay State Organs. tste-w Organs $24, Pianos $2lO Second Hand Pianos and Organs Almost Given Away, to Make Room for New Stock. BIG BARGAINS* .AT Lutldcn A Calcs Southern Music House, SAVANNAH, OA. ■" - —... ■ ■" I*UOI'OSAJU WANTJCII. Proposals for Culverts and Ditches. umcK of the City flruvEYo®, ( Savannah, (Ja., July 15th, IMK7. ( I )KOPOHALK will I**/Hfeelvwl until WJSDNEB - D.VY NIGHT, Julv 27th, at t oehxk, dfrn*uf to Mr. V. K. K#* Fairer, Clwk of Con noil of tin? city of Savannah, for the ftirmshnu: of inatorliils ami ImildiiiK forty-one feet of fbrty inch Italf round culvert, and forty one feet of ihirty slx Inch together with niu h buikheuiU and eaUli-lwwiriM nn may 1h) r*<|uinxJ. Alw. for the fllgffla# thrao huuilnpl and Klxty -om* of ditch, two amt omvfrltlf f***t wide at the bottom, eoven with* at th top and live foot deop: and.aUto, Moventy-five feet of ditch. two feet wide at th*j |*ottoru, live feet wide at t he top and four feet ftoep. Plan:i and HiKs iflQations may l wen at the office of the City Hdrveyor. The city nittervea the to reject any or all bkltt. All Wd* must be signed by two miretfen. before a Notuiy, for the faithful jierforrnanee of the work. J. ukBKUYN KOPS, C. K., Proposals for Sewers and Culverts. Omni or Title City Sprvryor, I Savannah, Ua.. July ISth, IBW.I fIROPOSALH will l,<- received until WEDNKS -1 PAY NKIMT, July 37th. lit R oVlock. directed to Ur. K. K. ltntiaror, (i<-rk nf Council of Hus city of Savannah,for furnishing nmter lalM aud budding three hundred and sixty onp feet of forty-two luch sewer, seventy-fho feet of thirty Inch sower, forty-one font of sixty Ini'li half round culvert, together with sundry catch-basins aud bulkheads as may he required. The said sowers, culverts, bulkheads and catch Danins to lx) built on the Waters ltistd, near the property of Mr. John Schwarz. Jlan.. and sissilflcutlons may be seen at the offlDß l if the City Surveyor Tho cjty reserves the light to reject any or all bids. All bids must bo signed by I wo sureties, before a Notary, for the faithful iierformancc of the wuv-K J. mJJKUYN KOPB, C. E., Acting City Surveyor. DRV GOODS, ETC. SUCCESSORS TO B. F. McKenna & Cos., 137 BROUGHTON STREET, Will close out the remainder of their Spring and Summer Stock of White Goods, Table Linens, Towels and Napkins, Marseilles and Honey Comb Quilts, Ladles’, Gentlemen’s and Children’s Un dervests, Ladles’, Gentlemen’s and Children’s Hosiery, Para sols, Embroideries and Laces. N. B.—The reductions in the prices <* these goods will lie worth the attention of parties wanting the same. CLEARING OUT SUE. To Make Room for Fall Stock, I will offer Special Inducements iu MY ENTIRE STOCK, With exception of my Empire State Shirt. r PHE following goods will be sold cheaper than 1 ever offered in Savannah: Summer and India Silks. < team. White and Light Shades of A’batross. Colored and Black all Wool Dress Goods. Black Camel's liair Grenadines at 85c.; 40 inch wide. Printed Linen at less than cost Real Scotch Ginghams at kiss than cost. Black Henriettas at $1 40 and $1 75; sold at $2 and $2 25. Ladle*' and Children's Silk and Lisle Thread Hose m black and colored. Ladies' and Children's Undervests; best good* in the market Linen Sheeting and Pillow-Cane Linen. Cream and White Table Damask. ii-4 White Damask at $1; former price $1 50. Napkins and Doylies in cream and white. Linen Damask Towels in white and colored bordered. Linen Huck in white and colored bordered Pantry Crash Doylies at great reduction. The above goods will bo oLcred at prices to insure quick sale. J. P. GERMAINE, Next to Furber'g, 182 Broughton street. FOB KENT. For liont, from Oct. Ist, TholiyKe and commodious houae lately oocu nleTl fvJii&ce EmonrJjpeer, fronting Pulaski ntuuuuiAntVcornur Bull aud Taylor, the chuicoat location lu town. — AISO An eichtrJ-oom house iu same location.with all Iho into itnproveuuuits toward* pleasure and comfort. For particular* refer to JOHN LYNCH, Grocer, Whitaker and Taylor. KOK SALE. ~ WO 11 S ALE AT Griffin, Gr-a-, ©N SOUTH HILL STREET, Anew six-room house, with all modern Improve menu); four-acre lot. graahd, and luwn In grass; gas, cold and hot water it every room; fountain In frrfht of house; line b#rn anil servant houses; new wimi mill; good water; house well fur nished, and will lie sold with or without furni ture. ami wUI he sold at a bargain if sold this month. Write or call on J H. KKITH, Griffin, On. ' I I" — ■—— EIXiAE SALES. CITY MAitwr.Vl/S sack! I TNDKK a resolution [visaed in Council July I. 13th, 11W7, I will olfor for sale, at public outcry, in Trout of the Court House, in the city of Savannah, ('lmtham county, Georgia, on TUESDAY, the ,’d lnv of August, lftfT, Lot Numlx-r 81 Wailey ward. Minimum uppralsod valde, nine liurslred dollars Conulllons, that purchaser shall erpt [inrinunent liuprore ments thereon within one year from date of sale equal to oiie haß of the purchase price of Ml lot. Terms-Onodhird oasli, the balance payable in one aad two yearn, with interest at the rate df seven <“) l'r cent, per annum. Ihirehasers paying for titles. BOUT. J. WADE. City Marshal. Savannah, Jply 16th, 18S7. sjtVl>. IN TIME OF PEACE pfIEi’ARE FUK WAIL In this Hot Weather think of the Cold to come, and confer with Cornwell & Chipman About, keeping Warm next Winter. Wo are Agents for the famous BOYNTON FURNACES, HEATEKH, Etc., the Iwst In ths world, aud we don't charge anything extra for the reputation. MUDICAT, TO*SEI(£SSS' manhood. etc. I will send a valuable troa'UM(nc.tl.nh containing full particular* for home cur©, free ad <*•. 0. ITU CMr 3