Newspaper Page Text
Old Series—-Vol. 25. No. 122.
Tlie Sunday Constitutionalist
is eagerly sought for, not only by regu
lat subscribers, but by those who never
read a paper on week days. In to
morrow’s issue we shall have several
original articles of unusual importance,
choice selections, correspondence from
various quarters, and the news of the
world attractively culled and presented.
As our Sunday issue will be nearly
double that of ordinary occasions, our
friends will see the advantage of seiz
ing upon such a golden opportunity to
make themselves and their wares
known to the public.
Andy Johnson has been stricken with
paralysis, and is in a critical condi
tion.
The Oregon Democrats come to the
front with a son of old Joe Lane and a
hard money platform.
Indiana is now bragging about hav
ing a cyclone. Georgia is still ahead,
for we have had an earthquake.
The sufferers by Duncan, Sherman &
Cos. are slowly coming to light. We pub
lish a few in the telegraphic column.
Among the number is John Brougham,
the actor, who lost all.
The ice storm at Geneva was a won
derful phenomenon and is graphically
described in our news columns. The
year 1875 will be celebrated in history
for its atmospheric disturbances and in
that record the Geneva disaster will
hold a prominent and peculiar place.
If the outrage said to have been com
mitted yesterday by a Spanish man-of
war upon an English merchantman is
true, we will hear from it again, and
that quickly. To commit such das
tardly outrages as that and humbly
apologise and pay heavily is about all
the modern Spaniard is fit for.
The Cubans have made a—to them—
ten strike. They have captured a Span
ish train, and among other things the
snug sum of §150,000 in gold. This is
enough money to keep a revolution in
a Spanish country going indefinitely.
Valmaseda will be out with his regular
proclamation in a few days.
Augusta was happy yesterday after
noon. We had a glorious little rain.
It came down for fifteen or twenty
minutes almost as hard as it could
pour. Everybody dropped pen, pencil,
yardstick, hammer and saw and went
to the door or window, and you could
see a unanimous vote of thanks upon
each countenance.
The Centennial celebration of Daniei.
O’Connell comes off on the 6th of
August at Dublin. Great preparations
are being made for it. He was one of
the greatest men that ever lived, not in
aptly called “the Liberator of Ireland,”
and his memory is revered by his coun
trymen more than that of any other
illustrious man ever born among them.
Charleston had another hanging yes
terday. The programme laid down
to, but literally at the eleventh hour,
Lieut. Gov. Gleaves, acting Governor,
telegraphed a reprieve for one of the
condemned negroes and sent him to
the penitentiary for twenty years. This
is the third negro hung there within a
mouth. He had a jury of twelve of
his own color.
A letter from Clarksville represents
that while the stay-at-home in Augus
ta are panting for cool breezes, the peo
ple and visitors in our highland coun
try have to put on thick clothing in or
der to be comfortable at night. Fel
lows who are able to go to the springs
or mountains, every Summer, need not
expect to get to Heaven without a
powerful struggle.
We publish another chapter of crop
news. Rains are passing about, and
we do hope they will be general before
they end. If the corn in Middle Geor
gia can get rain now, we will still make
a fair crop, though nothing like the
yield promised a few weeks ago. In
Southwestern Georgia the Albany News
gives, no doubt, the true situation —
forty per cent, of corn, with cotton
critical.
The official report from Fort Bar
rancas says there were only two new
cases and two deaths there yesterday.
This is very reassuring. One very
favorable sign is, it does not seem to
spread to neighboring points. There
are Warrenton and Pensacola, close at
hand, and not a case has appeared in
either. But the terrible scourge has
three long months before it in which
to ravage the Gulf and South Atlantic
coasts.
We give at some length this morn
ing some of the surroundings of the
failure of Duncan, Sherman & Cos., no
tably as that collapse affects the cotion
trade, or rather speculation in the
great staple. The general opinion
among capitalists appear to be that no
pronounced damage will be done which
will lead to a panic, like that caused
by Jay Cooke & Cos., but, as one of the
brokers observed, no one can tell what
a day may bring forth in these chaotic
times. Men seemingly prosperous in
the North have plenty of addled eggs
on hand, and, sooner or later, this
fact will develop itself. Many of the
falsities of life and commerce, as well
as politics and religion, have been ex
ploded. The material is by no means
exhausted.
The graduating class of Hamilton
College petition the trustees to remove
Prof. Henry A. Fink, the rhetorical pro
fessor, for “impropriety in his personal
intercourse with students,” besides par
tiality, deceit and inconsistency. Th
class of 1874 adopted a similar memo
rial.
A Unitarian pastor, of Brighton,
Mass., is accused of cruelly treating
Jiis child.
FOREIGN DISPATCHES.
Germany and the Vatican.
Vienna, July 30.—The Presse says the
Prince Bishop of Breslan, Monsiguor
Foerster, in his dual capacity of German
and Austrian, is mediating between
Prussia and the Vatican through the
Papal Nuncio at Vienna. It is stated
the Nuncio himself is now in communi
cation with the Prussian Embassy at
Vienna.
The O’Connell Centennial-Dissatis
faction with the Arrangements.
London, July 30. —It is reported that
arrangements are made to place twelve
steamers in the City of Dublin Steam
ship Company to convey passengeis
from Liverpool to Dublin during the
O’Connell Centenary week. It is ex
pected that 10,000 persons will go to
Dublin from various Home Rule cen
tres in Great Britain. The Fenian
Amnesty Association anuounce a great
mourning demonstration in Dublin,
concurrently with the O’Connell pro
cession, August 6th.
The Manchester Home Rulers have
published a statement that they, like
their confreres in London,both members
of Parliament and others,are profoundly
dissatisfied with the sectarian charac
ter which is given to the O’Connell cen
tenary festival in Dublin. Great sur
prise is expressed that Dr. Isaac Butt,
the Home Ruler member of Parlia
ment for Limerick, has not been invit
ed to the centenary celebration.
Constantinople, July 30.—The re
port that the Grand Vizier has been
dismissed from office is incorrect.
Ball of the Lord Mayor of London.
The grand ball given by the Lord May
or of Loudon to mayors and other civic
dignitaries from abroad took place to
night at Guildhall and was a magnifi
cent affair. Nearly 3,500 persons were
present, including ah the distinguished
guests at the bauquet yesterday. The
hall was finely decorated, although
there was little time to prepare it for
the ball following so soon after the
banquet. No member of the British
Ministry attended the ball.
Barry Sullivan —The Usages of War—
The Shipping Bill—The Channel
Tunnel Bill.
London, Juty 30.—Barry Sullivan
sailed. Plays at Booth’s Theatre, New
York.
In the House of Commons this after
noon, Mr. Bourke, under Foreign
Secretary, in reply to an enquiry, said :
“England had not been invited to any
future conference on the usages of war.
Her views on that subject were un
changed.”
D’lsraeli, in response to a question
of Mr. Bates, the Conservative
member for Plymouth, said : “The
Government would afford every fa
cility for the appointment of a commit
tee to investigate Plimsoll’s charges
affecting Bates, if the latter so desired,
The debate on the Shipping bill was
begun.
Mr. Plimsoll advocated the passage
of Sir Charles Adderly’s bill, with cer
tain amendments.
The House will sit to-morrow.
The British Channel Tunnel bill has
passed the House of Lords.
Sir Charles Adderly’s Shipping bill
passed its second reading this eve
ning in the House of Commons with
out a division.
ii
DUNCAN, SHERMAN & CO.
More of the Great Failure—Their Let
ters of Credit —Partial List of the
Swamped—A Canada Prong Snapped.
New York, July 30.—Mr. Duncan
stated ytsterday that at least five
sixths of the letters of credit held
against the firm were secured. It is
asserted that Theo. Moses had §60,000
with the firm, Henderson & Colville
had §30,000 and Wm. Wheatly had a
very large sum. J. L. Toole holds
their paper, which he bought a fort
night ago, to the extent of §30,000. H.
J. Montague deposited with them his
earnings here, and John Brougham had
almost his entire fortune in the house.
John T. Raymond and W. L. Florence
both hold letters of credit from the
firm, as well as many of their profes
sional associates abroad.
Toronto, July 30. —Campbell & Cas
sels, bankers and brokers, suspended
until they can hear the fate of Duncan,
Sherman & Co.’s foreign bills.
THE FLOODS IN THE NORTHWEST
Damage to Crops—A Cyclone in In
diana.
Cincinnati, June 30.—Reports of the
damage to crops from the late rains
continue from Southern Ohio and
Southern Indiana. All report swollen
streams, submerged corn and sprout
ing wheat.
Indianapolis, July 30.—A cyclone
passed through Harveysburg, Foun
tain county, Indiana, la9t Friday night,
tearing houses to pieces, uprooting
trees and sweeping things generally be
fore it. Five women and a child were
killed.
Cambridge City, Ind., July 30.—Two
hundred and fifty feet of track of the
White Water Valley Railroad was
washed out and the bridge carried away
daring the storm. A large force is en
gaged in repairing damages.
ANDY JOHNSON AT DEATH’S
DOOR.
lie is Stricken w ith Paralysis.
Nashville, July 30.—Specials to
Nashville papers from Greenville,
l’enn., this evening, report ex-Presi
dent Johnson stricken with paralysis
on Wednesday evening at the residence
of his daughter, in Carter county. He
is lying in a very critical condition and
his recovery extremely doubtful.
Memphis July 30. —A special from
Greenville to the Avalanche says ex-
President Johnson’s condition is more
hopeful to-night, feeling having par
tially been restored to his left side,
and he speaks intelligibly.
AN OUTRAGE ON THE HIGH SEAS.
A Spanish Man-of-War Forcibly Take*
A Man from a British Vessel.
New York, July 30. —A letter Lorn St.
Thomas says the Spanish authorities
at St. John, Porto Rico, took off a pas
senger named Luis Venegas from the
British steamship Eider by force, des
pite the protest of the Captain, and it
was reported that Venegas had been
shot. It is said he had held a position
in the Spanish army and absconded
with public funds. He was en route
from St. Thomas lor Sand omingo on
the Eider, which put into Porto Rico.
When the Captain of the Eider refused
to give up Venegas, a Spanish gunboat
took position in front of her ready for
action. The Captain then said he was
not prepared to resist force and had to
surrender his passenger under protest.
It was also said Venegas was only a
political offender.
AUGUSTA, a Ac., SAITTTRD AY MORNING, JULY 31, 1875.
FROM WASHINGTON.
Capital News aud Notes.
Wa‘ hington, July 30. —The order of
the President directing Assistant Sec
retary Burnham to act as Secretary
during the temporary absence of the
Secretary of the Treasury, should not
be understood as indicating the slight
est displeasure on the part of the
President or the Secretary towards As
sistant Secretary Conant. That officer,
they say, enjoys to the fullest extent
the confidence of both. The two offi
ces of Assistant Secretary are of
equal dignity by law in this case. The
order was made in view of the possi
bility that the Secretary might be ab
sent from the city before the return of
Assistant Secretary Conant.
President Grant has ordered that
during the absence or sickness at any
time of the Honorable Benj. H. Bristow,
Secretary of the Treasury, the Honor
able Curtis F. Burnam, while first Se
cretary, is hereby authorized to per
form the duties of Secretary until other
wise ordered.
The postal money order system be
tween the United States and Canada
goes into effect Monday next. The
Secretary of the Treasury has ordered
the retirement of over one million legal
tenders.
Robeson has gone to Eye Beach for
a month. The Secretary of the Treas
ury to-day decided to make no change
in the engraving or printing of the new
series of national bank notes, with the
exception that notes are to be printed
on distinctive paper and marked series
of 1875, and will bear the signature of
the present Treasurer of tho United
States. The law requires that
these notes shall have not less
than thiee plate printings, one
or two of which shall be performed by
responsible aud experienced bank note
companies or bank note engravers, no
company or establishment executing
more than one printing upon the same
note, and the final printing aud finish
ing to be done in the Treasury Depart
ment.
The Postmaster General decides that
the office of issue is the office of publi
cation, and not where the paper may
be printed. All such publications must
be sent to the place of issue before they
can pass through the mails at publish
ing rates.
m
FROM NEW YORK.
Big Fish Swallowing Little Ones —
The Papal Ablegate—New Steam
ship Line.
New York, July 30.— The Post says, in
regard to the report that the Atlantic
and Pacific Telegraph Company is to
be merged with the Western Union or
practically controlled by the latter,
that there is no official confirmation.
It seems, however, to be conceded that
there is a movement on foot to accom
plish that end, but the report which
has been current that it had been ac
complished was premature.
A committee of the Catholic Total
Abstinence Union of America waited
upon Papal Ablegate Mgr. Roncetti
this a. m. and presented him with an
address containing protestations of de
votion and love to be conveyed to the
Pope. The address was adopted at a
meeting and convention held at Chicago
on the 24th of October, 1874. A Latin
address to the Pope from the clergy of
the diocese will be presented to the
Papal Ablegate this evening aud the Pa
pal legation will sail for Europe to
morrow.
New York, July 30. —The establish
ment of a first-class line of steamships
between this city and Havre, to sail
under American colors, is contempla
ted. Several infiuential merchants con
nected with steamship business are at
work organizing the line.
IMPORTANT FROM CUBA.
The Rebels Capture a Heavy Convoy
With $150,000, Mules aud Carts.
New York, July 30.—A Nuevitas let
ter of June 25th, says : About ten days
ago a large Spanish convoy left Puerto
Principe for Gualmaro consisting of
forty-five ox carts and ninety-three
pack mules loaded with arms and am
munition, provisions and a hundred and
fifty thousand dollars in gold for the
army at Cascorro and Gualmaro. The
convoy, guarded by five hundred
soldiers under the command of Col.
Huelches, was suddenly attacked by
the Rebels, eight hundred strong, under
the command of Generals Garcia and
Reives and the whole force of guards and
escort thrown into confusion, and the
convoy captured by the rebels. The
loss of Spanish troops was about one
hundred and fifty killed. Among the
number was Col. Huelches, who was in
command. Rebel loss could not be as
certained.
THE OREGON DEMOCRACY.
Nomination of Lafayette Lane for
Congress —The Platform.
San Francisco, July 30.—The Ore
gon Democrats nominated Layfette
Lane for Congress.
The platform of the Oregon Demo
crats covers State Rights ; payment of
the public debt ; resumption of specie
payments ; legislative control of rail
road fares and freights, and demands
reform in all departments ; bids for the
support of the patrons of husbandry ;
opposes the protective tariff; paper
currency; National Banks; Chinese
emigration ; and fraud aud corruption
in office.
Minor Telegrams.
St. Louis, July 30.—A reliable source
contradicts the assassination of Chief
Ross. He is at home well, and been in
no difficulty.
Huntington, W. Va., July 30. —The
steamer “My Choice” ran down a skiff,
drowning four unknown men.
Cynthiana, July 30. —Dr. Donnelly,
dentist, approached Dr. Peckover, an
other dentist, saying Peckover had
called him a liar, and shot him dead.
Donnelly surrendered himself, but on
the way to jail was shot dead by Mr.
Ridgely, a brother-in-law of Peckover.
Ridgely is in custody.
Albany, July 30.—Upon the applica
tion of the Superintendent of the Bank
Department, the Attorney General has
rendered an opinion which is adverse
to the legality of investments in the
District of Columbia of 365 bonds by
the Savings banks of the State. This
decision must control the action of the
Savings Bank.
Springfield, Mass., July 30.—The
Arms & BarJwell Manufacturing Com
pany, manufacturers of pocket-books,
etc., at Northampton have failed with
liabilities of §175,000 to §200,000.
New Haven, July 30.—The works of
the Sterling Organ Manufacturing Com
pany, in Birmingham, were burned this
morning. The ,’oss of the building aud
stock is §40,000.
OUR CLARKES VILLE LETTER.
Relics of By-gone Elegance- From the
Lowlands to the Mountains —Con-
ductor Purcell as a Lady’s Man-
Visitors from Augusta and Other
Places —A Cool Climate, Pure Water
and Tempting Fare—“ Crooked Whis
key”—Splendid Crops—Judge Jack
sou.
I Special Correspondence Constitutionalist.]
Clarkesvillh, Ga., July 27th.
I do not propose to bore you or your
readers with a geographical description
of this little capital of Habersham
county. Its situation upon the hill in
full view of Mount Yonah, Tray
Mountain and other peaks of a spur
of the Blue Ridge is lovely. Here, as
in many of the interior villages of
Georgia, the shattered fragments of
former wealth, culture and refinement
are prominent, and tell in eloquent but
sad tones tho devastating effects of
the war between the States.
The trip from Augusta here is by no
means an unpleasant one. Our party
left on Friday night and arrived here
without accident at four o’clock Satur
day afternoon. By taking the day
train from Augusta you can get here
by eleven o’clock at night of the same
day if you don’t mind riding about
eight miles from Mt. Airy, the station
on the Air-Line Railroad where you get
off, over a road that is pretty good for
digestion at night. The ladies of our
party speak in glowing terms of Con
ductor Purcell for his courteous atten
tion, and particularly for his crowning
act of thoughtfulness in awaking them
from their uneasy slumber about 2 a.
m., aud presenting each of them with
a large, soft pillow—aided with which
they slept with pleasant dreams. It can
be truly said that in nothing is Col.
Johnson’s excellent management of the
Georgia Railway more characteristic
than in the persons cf the attentive and
gentlemanly conductors to be found on
his road.
The people here are looking forward
with great eagerness to the completion
of the Northeastern Railroad, from
Athens, which is to pass directly
through the village. So far, there are
not a great many visitors here, but
many more are expected after the
Athens commencement.
Augusta, in her maidens as well as
matrons, is well represented. We have
the lovely and accomplished Misses
Josie and Pamela Brown, of whom
Summerville is justly proud, the pretty
tiaxen haired blonde, Miss Carrie
D’AutigDac, and our Greene street
belle, Miss Nora Clayton, than whom
Augusta could have no fairer or more
charming representative of the beau
ty loveliness and fascination of her
women, The matrons do no less jus
tice to your city. We have Mrs. Geo.
T. Barnes, Mrs. J. S. Bean, Mrs. J. J.
Broine, Mrs. W. B. Young, Mrs. Dr.
Rossignol, Mrs. C. W. Doughty and
the handsome bride, Mrs. Byron Holly.
The pretty Misses Law and the charm
ing dark-eyed Miss Ellen McAlpin,
from Savannah, are here, jind others
from Atlanta and places beyond, whom
the writer has not yet had the pleas
ure of meeting.
Things are quiet here yet, on account
of tho limited number of visitors. This
is certainly just the place for health ;
the climate is cool and delightful and
tho water cold and as pure as crystal.
You can hardly imagine the change
you feel, even after one night’s sleep,
fanned by the invigorating mountain
breeze. Eighty-six is as high as the
thermometer has been here during the
middle of the day, while at night it is
uncomfortably cool on the piazza with
a thin coat, and cover is necessary for
comfort in sleeping. It is a great won
der that, persons really in search of
health don’t come here instead of go
ing on an expensive trip to crowded
springs. Excellent board can be had
at §25 per month, and any one coming
here will find no more delightful place
to stop at than with that queen of land
ladies, Mrs. Angus McAlpin. Her table
would suit even the most fastidious,
aud the situation of her house is the
best in Clarkesville.
Uncle Sam is represented here in the
person of his blue coats, who are about
with a deputy United States Marshal
working up illicit whiskey distilleries.
The people up in the mountains it is
said waste very little corn fooling with
bread and prefer to get it in shape to
be carried in a little, brown jug, but
they are as much opposed to buying
revenue stamps for the privilege as
were the early colonist to pay tribute
to John Bull. A gentleman, who has
just returned from the mountains says,
a man is compelled to carry his own
whiskey, for every stranger is regarded
as a revenue officer and the article can
not be had for love or money until
after a full acquaiutance, and that then
you are compelled to drink to make up
for lost time aud to get jolly drunk as
an evidence that you feel no longer in
sulted at having been taken for one of
them internal revenue fellows.
The crops throughout this section are
fine, and I never saw more luxuriant
corn in my life. Th >se from the coun
try say they have the largest and best
crops they have had since the war, and
that one more rain will make the corn
crop beyond any doubt. The peach
crop is not very good, but apples are
in great abundance, and plenty of good
cider can be had at 25 cents per gal
lon.
I have no idea when you will get
this, as the mail arrangements here
are wretched, and, though we get a
daily mail, it seems to take anywhere
from three to five days for a letter to
reach here from Augusta.
The appointment of Judge Jackson
to the Supreme Bench gives great satis
faction here, but whether it arises from
a knowledge of his capacity to fill the
position, or from the fact that he was
popular as the former Judge of the
Superior Court of the circuit, I am un
able to say.
Our party will leave for the moun
taius aud falls probably in a few days,
and I will write again upon our return.
Lex,
THE YELLOW FEVER.
Dispatches from Barrancas—The Dis
ease on the Declice —Two New Cases
ami Two Deaths.
Washington, July 30. — Dispatches re
ceived at the War Department from
Brevet Major General Brannon, com
manding at Fort Barrancas, Fla., re
ports two new cases of yellow fever
there yesterday and two deaths, a laun
dress and Mrs. Ingolls, the wife of
Lieutenant Ingolls. No new cases are
reported from Fort Pickens. Dr. Stern
burg, Post Surgeon at Barrancas, who
is down with the fever, is doing well.
A panther, seven feet long, is skulk
ing around the White Mountain House,
looking for some young lady with a pull
back dress on. He means to be fash
ionable in his provender.
DUNCAN, SHERMAN & CO.
OPINIONS OF THEIR CRASH.
Wliat Cottou Men Say—The Bull Move
ment of this Year aud its Failure.
[New York World, 28th.]
Current rumor on the floor of the
Cotton Exchange placed the large sales
of cotton yesterday to the account of
Duncan, Sherman & Cos., who were be
lieved to be long of the staple, and to
have been engaged for some time in
operating in expectation of a rise in
the market price. The large sales on
their account depressed the market
yesterday morning when the sales sup
posed to be on account of the firm con
cluded. It was the general impression
on the floor of the Exchange that they
were kept up till the public announce
ment of their failure was made. Aside
from the generally received theory that
the operations of the firm prior to
suspension turned solely on a desire to
make good losses threatened by the at
tempt to force the price up, another
theory had it that the firm was short
in Liverpool, and attributed the rapid
rise in gold to an attempt to buy gold
to meet this short intent. Beyond the
failure of a small broker of no particu
lar prominence no failures in the Cot
ton Exchange were reported yesterday.
The tendency of the price has been for
so long a time downward, and the in
terests looking to a fall in the price of
cotton have been so large, that it is not
believed that the great and sudden fall
which followed the large sales of the
brokers employed by Duncan, Sherman
& Cos., will lead to extensive difficulties
iu the Exchange, though a few small
failures are expected this morning.
It having been a matter of current
comment for months at the Exchange
that Duncan, Sherman & Cos. were the
largest American holders of cotton for
a rise, the following theory of their dis
tress in the event is advanced by those
who have watched the crop for two
years and the movements of the mar
ket. Last September, when it became
apparent that the crop, then about
middling, had been considerably in
jured by the prolonged drouth, the for
midable movement to promote an ad
vance was organized. It received some
strength from the report of the Agri
cultural Bureau for September, show
iug that at the end of August the con
dition of the crop as compared with the
previous month had deteriorated from
15 to 40 per cent. Estimates were pub
lished, based on this report, showing
that the crop could not exceed 3,000,-
000 bales. Cotton at that time was
quoted at 16% cents for “middling up
lands.” Later reports from the bureau
modified the estimate of damage, and
persons iu the bull interest gradually
raised them to 3,250,000 and 3,500,000
bales, and the final report of the bureau
for the year put the estimate at 3,648,000
bales. But the severe drouth matured
the crop rapidly, and the frost in the
latter part of October hastened the ter
mination of the picking season. These
facts, aud the financial needs of the
planters who had been able to get very
few advances on the growing crop,
hurried the crop to market, ahd for the
first seventeen weeks of the crop year
the receipts were largely in excess of
the previous season’s receipts, so that
estimates based on the receipts of pre
vious years to the 20th of December
indicated a crop of nearly 4,500,000
bales. That wholly discredited the
short crop theories, aud cotton the
week before Christmas had' declined
two cents from the opening prices of
the season. This was a heavy load for
the bull party to carry. But just then
the receipts began to fall off rapidly,
and it soon became evident that the
crop would not exceed 3,900,000 bales,
or perhaps 3,600,000. Thus began an
active buying for an advance, and by
the middle of March middling uplands
were quoted at something over 17 cts.,
or about 3 cents above the lowest point.
Then the extreme dullness of low
prices in cotton goods began to be felt.
The New England mills began to re
duce their production. To support
this market the bull party made large
shipments to Liverpool, which, in view
of the state of trade there, caused a
weakness in that market. The plant
ing season for tho next crop opened fa
vorably in a moderate degree and con
tinued to improve, and cotton again
declined. Strong efforts were made to
check the downward tendency, but it
continued with frequent sharp fluctua
tions until yesterday, when prices were
fully 4 cents per pouud below the high
est point in March, 2 cents lower than
in September, and the lowest of tho
season. This depression, with the cost
of carrying, would be very disastrous
to a house interested largely. On 200,-
000 bales, for instance, the loss since
March would be §3,000,000.
It is said that Duncan, Sherman &
Cos. endeavored to relieve themselves
by extremely large shipments to Liver
pool, and the number of bales held by
them there is variously estimated at
from 100,000 to five times that sum. In
spite of the short crop there is more
American cotton held at Liverpool to
day than there was last year at this
time, and the closing of a hundred
mills in Lancashire yesterday, con
nected, as that is said to have been,
with the failure of A. & \V. Collie, of
Manchester, with whom the American
firm is believed to have had dealings,
are mentioned as incidents that proba
bly hastened the fall of the latter
house.
The excitement at the Cotton Ex
change increased to such an extent
during the day that towards the close
of operations the endeavors of opera
tors to save themselves were almost
desperate. Nearly every one inter
ested iu cotton was calling for margins
and loans. A rumor current in the
afternoon that one of the largest cot
tou houses in England had failed only
added to the intense excitement, and
continued to depress the market. A
number of the cotton brokers antici
pate the suspension of cotton houses
during the next few days, the result of
the failure.
At the Fifth Avenue Hotel last night
also the general opinion seemed to be
that the small cotton brokers of this
city would suffer severely, aud perhaps
many of them “go under,” in the course
of a few days.”
Cotton Crop Speculations—Two Well-
Remembered Instances of their Dis
astrous Result.
One of the most notable speculations
in cotton was in 1839-’4O, in which
Nicholas Biddle, the ex-president of
the United States Bank, was engaged.
It was very disastrous. The crop had
increased from 720,000 bales to 1,800,-
000 bales. The cotton market had been
very much depressed on account of the
unfavorable news received from Eu
rope. The price of cotton fluctuated
on a margin of from to 4}£ cents
per pound The Bank of the United
States at Philadelphia endeavored to
control th t article. On the 6th of June,
11839, Messrs. Humphreys & Biddle is-
sued a circular announcing that “an
arrangement had been made by which
an advance of three-fourths on what
may be estimated as the present mar
ket value of cotton, say 14 cents per
pound, will be made on every bale of
cotton in the country at all the ship
ping ports, to all holders, the consign
ments to go forward to Humphreys &
Biddle, who, sustained by adequate
means on both sides of the water, will
bo able to hold on until prices vigor
ously rally.” The effort was fruitless,
as prices continued to decline, and be
fore the close of the crop year fell off
from 3 cents to cents per pound. In
May, previous to the issue or the cir
cular, cotton sold at 14 cents per
pound, but at its date it had declined
to 1234 cents per pound. In September
following it had dropped to 9)£ cents,
aud in February it was quoted at 1%
cents.
in 1850-’sl a disastrous short-crop
speculation occurred in New Orleans.
Early in the season the cotton factors
at Now Orleans had made their esti
mates of the crop, but at no time did
the crop reports justify the small esti
mates made at New Orleans. The lead
ing cottou house in New Orleans was
that of Hill, McLean & Cos., and Mr.
Hill was the leading spirit iu the spec
ulation. His judgment was considered
almost infallible, and many trusted
him. Factors and speculators refused
a moderate advance, but shipped their
cotton to Northern and European mar
kets. In July, 1851, Mr. Hill sold mid
dling New Orleans in New York at 6> s
cents, which had cost him 13>£ in New
Orleans. One lot shipped to Liverpool
netted §7O less per bale.
Talks With the Money Men.
[Philadelphia Times.l
The following individual opinions
may form fitting addenda to the above:
Townsend Whelen, the senior mem
ber of Whelen & Cos., stock brokers
and bankers, on Walnut street, above
Third, and correspondents of Duncan,
Sherman & Cos., iu all stock operations
in this city, informed the Times man
that the failure would not directly af
fect this city in the least. Said Mr.
Whelen: “Duncan, Sherman & Cos.
have been advancing on shipments of
cotton aud East Indian credits, and
the same causes that brought down the
London houses have compelled them
to succumb. They have also been
making large advancements on iron
with similar disastrous results. We
were their correspondents in all stock
operations, aud have been for the last
twenty years. They dealt little in
stocks, and the stock market will not
be affected in the least. A great fail
ure like this,” continued Mr. Whelen,
“as a natural result being unexpected,
and a surprise would cause an unstead
iness in the stock market. Gold would
rise, as it has done, the advance being
caused by the great demand for that
article to cover shipments.” In con
clusion, Mr. Whelen was of the opin
ion that “the scare was all over.” “All
over, and nobody hurt,” replied Mr.
Frank Drexel, of A. J. Drexel & Cos., to
the long chain of interrogatories pro
pounded him. Vice-President Com
egys, of the Philadelphia National
Bank, which institution lias been bank
correspondent of Duncan, Sherman &
Cos., for the last twenty-five years,
stated that he had received “no news
of the failure except the common street
rumor.” “I do not suppose any Phila
delphia house will be affected,” said
Mr. Comegys. “We have been their
correspondents for many years past,
and have always found them an hon
est, upright, honorable firm.”
Charles Cambios, senior member of
Charles Cambios & Cos., on Third street,
thought the panic was all over. “I
never thought Duncan, Sherman & Cos.
had the means it was said they had,”
said Mr. Cambios ; “this crisis has been
coming on gradually, and the firm has
broke at last. The country will not be
affected like the failure of Jay Cooke &
Cos. At that time one hundred rail
roads were building and their bonds
were in every broker’s window and
money was tight. Now, there is noth
ing like that to-day. There are no
roads to he built, and money is plenty.
Philadelphia will not lose anything.—
New York alone will suffer, where a
great number of the notes of this firm
are hold. Duncan, Sherman & Cos.
were extensive bill brokers, and their
letters of credit circulated freely in
Europe. The unfortunate possessors
of these letters and notes will be the
sufferers, arid tho stock market and
business community in general will
escape.”
“I’ll tell you what!” exclaimed George
S. Fox, of Bowen & Fox, stock brokers,
as he wiped the perspiration off his
face and unfastened his collar band, at
the close of the Stock Board; “I’ll tell
you what, its the shortest and sharpest
panic I have ever known or experi
enced; and nobody hurt except a few
small fry, who, being somewhat fright
ened, threw their stocks on the mar
ket, while the tnonej’ men stood quietly
by, bought them in and resold them
again in fifteen minutes at an advance.
The panic only lasted fifteen minutes,
and in that time stocks fell and re
gained nearly their old footing. There
is no reason for the excitement at ail.
The failure of Duncan, Sherman & Cos.
only created a stampede among a few
timid and petty men, who sold out on
account of fear. The panic is senseless,
and no bad effect will be produced,
money being plenty. Only a few stock
gamblers will be losers. The great sur
prise created by the failure is the only
thing that can account for the stir, aud
now everything is quiet. Duncan, Sher
man & Cos., I judge, have been advanc
ing extensively in iron and cotton, and
tUat has brought about their downfall.
No railroad interest will suffer, for the
firm did little business in that direction.
The trouble is all over now, but times
are uncertain, and to-morrow may
bring forth a very different picture.”
Jay Cooke next came under the news
paper man’s eye, and as that gentle
rnau’s name as the head of his famous
but ill-fated firm was mentioned fre
quently during the day by way of com
parison, a chat with him was not
thought inappropriate.
“We never had a single transaction
with this firm, strange to say, in all our
large business. Therefore, I cannot
say much about them. Although it
was reported to be a strong house, I
did not express or feel much surprise
when informed of the contents of the
telegram announcing the news. They
doubtless, like a great many other peo
ple, had ‘eggs that were addled’—in
vestments that did not turn out as
they expected, and a pressure of out
side creditors lias doubtless carried
them under.”
The little Hartford girl who gave
utterance to the following idea was
puzzling her mind with a problem that
has bothered the world for ages. She
was reproved for some childish act,
and seating herself on the floor at her
mother’s feet, reflected for a long time,
and then looking up, said : “Ma, why
is it that naughty things are so nice?”
JMew Series—Vol. 3. No. 171.
THE GEORGIA DROUTH.
We had a glorious rain yesterday
afternoon. It came out of clouds
which gathered from all quarters. It
was indeed most refreshing, and we
hope to-day to hear of its having fallen
all over the country. The atmosphere
was much cooler afterwards.
Houston County.
The Fort Valley Mirror pronounces
the corn crop irretrievably ruined. The
showers, it says, have been light, and
very partial, and if rain does not come
in a few days, such a freshet as Noah
had in his time would not do it one
particle of good. Some farmers tell us
that they will make a half crop with
out any more rain, while others will
not make anything, We have recently
traveled in portions of Macon and
Taylor counties, and the prospect is
gloomy indeed. We saw a field of
corn near Montezuma that was literal
ly burned up; also a field a few miles
from Reynolds that could be burned
over like a sedge field, if a torch was
applied. The potato and pea crops are
suffering immensely.
The Weather
continues hot and dry. The earth has
become so heated that we think if rain
were to begin to fall about some of
these hot noondays, it would almost
“sizz” as fast as it touched the earth.
The foliage of the trees is beginning to
show the effects of the hot scorching
sun.— Macon Telegraph.
Greene County.
Another week has been added to the
calendar of dry times. While some
portions of the couutry have been
blessed with refreshing rains, this im
mediate vicinity is burning up. Two
severe storms of wind and hail passed
over portions of the county last Sab
bath. At Penfield, we learn that many
trees were blown down aud a photo
graphers’ car demolished. In the
neighborhood of White Plains great in
jury was done the growing crops. We
understand that the crop on Maj. John
Swann’s plantation was seriously dam
aged.—Greensboro Herald.
Rain Yesterday.
Yesterday about noon the city was
visited with a refreshing shower. It
cooled the atmosphere to a certain de
gree, and for a time made many glad
hearts in the hope that the rains would
bo general and effective. For several
miles out of the city we hear the same
sprinkle prevailed, but of not sufficient
force to do any amount of good. Why
don’t it rain, and rain hard ? is the
general talk.— Columbus Times.
Hart County.
The dry hot weather has materially
injured the crops, we fear. The pros
pects were never better until a few days
ago; but a groat change can be made in
a very short time. Rain tliis week will
do wonders if we can get it. — Greens
boro Herald.
Wilkes County.
While we note from the contents of
our exchanges that the crops through
out most of this and other Southern
States are not promising, and are suf
fering terribly from drouth, we, in
this immediate section, have been
blessed Gy most propitious seasons.
Although the weather has been intense
ly hot for two or three weeks past, the
the thermometer ranging from ninety
to one hundred degrees in the shade,
and remaining often up to eighty eight
and ninety degrees till after ten o’clock
at night, yet wo have had frequent and
copious rains. This kind of weather,
bright, hot sunshine with plenty of
rain, is the finest weather it is possible
to have through the Summer for the
growing crops in this section. The con
sequence is, there are the finest corn
crops we have ever seen grow, on all
the places where they have been well
and properly worked. The land can
produce no better. The cotton, where
the seasons have been good and on
those places where it has been properly
worked, is equally as good as the corn.
We regret, however, to learn that a
portion of the county has suffered and
is still suffering for want of rain, and
that the crops of all kinds will be utter
ly rained unless rain falls in abun
dance very soon. As it is, they will
make short crops even with good sea
sons from this time on.— Washington.
Gazette.
The Corn Crop Forty Per Cent. Short.
Cottou Critical.
The die is cast, and we still adhere
to our last week’s estimate of the crops
in our journalistic dominions. We have
reliable information from almost every
neighborhood, and 60 per cent, of last
year’s housing is the figure at which we
stick. On this basis calculations and
operations may be predicted with safe
ty. The yield per acre may not quite
reach 60 per cent., but there are more
acres planted than last year, and we
make our final estimate with entire
confidence. Very many of the unright
eous in the drouth districts frankly ad
mit that they will make enough to do
them, while many others hope to be
able to get along on peas, oats aud
other splicing crops. Cotton is just
now in the “ imminent deadly breath,”
and whether it is to turn out more of
the “ deadly ” than otherwise, depends
on the August rains. With seasons to
suit exactly, a fair, but by no means a
full crop, may be relied on. Too much
rain or too little will prove disastrous,
and the year’s toil will not have set us
ahead.— Albany News.
The Magic of a Marriage Fee. —Not
long ago, a lady of very interesting and
lovely appearance called upon me. I
had married her some years before. I
did not remember her, but she recalled
the circumstance, and she then said
that Heaven had not blessed her with
any children, and she believed the rea
son was because her husband did not
give me any fee ! I laughed, of course,
as you do now, and tried to laugh her
out of the idea, but she was very earn
est about it, so I had to submit and
accept the honorarium which she of
fered. Sometime after, I met her fa
ther, whom I recollected, in the street,
and as we walked along together, I
asked him how his daughter was. He
said she was very well, and very happy
with her little boy ! Now, my brother
ministers, take heart! ir Providence
looks out so vigilantly for the marriage
fees, do not concern yourselves about
any sublunary matters, but give your
selves, heart aud soul, to the good work
of serving the truth. — Rev. Dr. Farness.
— —_—
A San Francisco rumseller was con
vinced of the degradation of his busi
ness when his daughter, 11 years old
got drunk and was arrested.
Every college as is a college, and has
a sheet of water larger than a bath tub
anywhere near it, should at once estab
lish a department of boatany. —lnter-
Ocean,
“SAM”
The Know-Nothing Movement in Ohio
and Maryland.
[Nashville Union and American.]
In the present transition stage of
American politics, when the disintegra
tion of the Republican party aud the
introduction of new issues have for
the time being produced a feeling of
“vague unrest” among a large class of
voters, it is hardly to be wondered at
that the element who favor reviving
the antagonism once sought to be en
gendered between native aud foreign
born citizens of the country should
seek to turn the opportunity to their
own advantage. Soon after Republi
canism began to be recognized as a
growing political influence, it was
heavily reinforced from the defeated
and disorganized Know-Nnothing par
ty ; aud there can be no doubt that
since tho abolition of slavery and the
settlement of the questions connected
therewith, the old proscriptive feeling
toward foreigners is beginning to reas
sert itself. As proof of this lamentable
fact we have heretofore referred to the
movements already inaugurated in
Ohio and Maryland. The Republican
leaders are unquestionably at the bot
tom of the conspiracy—for such it is—
in the former State, and operate under
the delusive title of “ Patriotic Order
of the Sons of America. That their de
signs may be better understood, we
give the authoritative announcement;
of the objects of the organization, its
qualifications for membership, as well
as the preamble, to which every person
desiring to join must subscribe. The
following is the text :
“PATRIOTIC ORDER SONS OP AMERICA.
Preamble.
“Whereas, The experience of all ages
and all countries distinctly showeth that
popular liberty, born amid the din of bat
tle, baptized in patriot blood, and rocke l
by the rude storms of civil strife, demands
for her preservation against ‘the rage of
party spirit, the wiles of ambition and tho
stern arm of power,’ the undivided love of
all her votaries, and the firm determination
of all her friends in an eternal struggle
with her foes; and
“Whereas, The history of the world most
plainly prove * that it is the business of one
generation to sow the seed or wldcli an
other reaps the harvest, be it of grain or
tares, of good or evil;
Now, therefore, we, the sons of America,
children of her soil, reared beneath the
shadow of her flag, loving her as none oth
ers can love, knowing her as none others
can know, and having an interest in her
future welfare, nearer, truer, deeper than
all mankind beside, do hereby associate
ourselves into an Order for the purpose of
encouraging each other in the practice of
our rights and duties as citizens of a coun
try in which we are called to exercise,
among our fellow-men, the common rights
ot sovereignty. In which act of associa
tion we severally pledge ourselves to tho
observance and support of the laws of the
land and regulations of this body, as be
comes the Sons of Freemen, willing to sub
mit to the restraints of social order, and
acknowledging no other bonds but those of
duty to our (rod, our country and ourselves.
The qualifications for membership
and objects are printed on the same
side of the card, and start off as fol
lows :
“ God, Our Country, and our order.
“ Washington Camp No. —, Ohio.
“ Patriotic Order Sons of America.”
“ Qualifications for membership: Can
didates for initiation into the Order
shall consist of male persons between
the ages of eighteen and fifty years,
being born on the soil or within the juris
diction of the United States of America;
of good moral character, free from any
constitutional disease ; who believes in
the existence of a Supreme Being; op
posed to Union of Church and State,
and believes in the fundamental teach
ings of the Declaration of Independ
ence.”
“Objects : The primary object of this
Society is to build up the American
Order based upon Patriotism, Educa
tion. Charity and Fraternity, as taught
under the doctrines of Protestant Chris
tianity. It aims to use all honorable
means to defend and perpetuate its in
stitutions, and by encouraging a* true
spirit of fraternity within its ranks to
advance the interests of each and every
member.
“These blanks are furnished’ only by
the State Camp of Ohio.”
We see it very plausibly suggested
that the main purpose of this Ohio or
ganization is other than that stated
above. It is to lure off members of
the Democratic party into scratching
names of candidates on their tickets
simply because they happen to be
foreign-born or to hold a certain form
of religious belief. Its aim is to break
the force of the onslaught Democracy
has already made and still is making
against the corrupt practices of the
Republican party. It is the Know-
Nothingism of 185 G, with its grips and
signs and dark-lantern mummery re
vived, and its object is now, as it then
was, to raise false issues and divide the
party. It is safer for Democrats to
let all such organizations severely
alone.
The Maryland movement seems to
be intended as a “ No Popery” crusade.
It is not a “native” party, but claims
to embrace many foreigners in its
ranks. What the leaders propose is
shown in the following circular, issued
last week aud now being distributed
throughout Maryland :
Citizens : You are called upon to unite at
the baiiot box to resist the Papal preten
sions in our polities. The Church of Rome
has long controlled, directed and misled
the Democracy, and now believes that, with
her compact military, church organiza
tions, and by th 1 aid of her ancient diplo
macy, her counsels may totally ignore the
Protestant spirit within her party. Con
vene. then, citizens, for the purpose of or
ganization, that you may with more cer
tainty of success defeat at the elections
those candidates who do the bidding of
Rome, that you may resist the destruction
of our schools, and by your vote maintain
the separateness of State and Church, de
manding the taxation of all church prop
erty and the discontinuance of all secta
rian appropriations.
It needs no brilliant intellect to com
prehend that the above manifesto did
not erpenate from Democrats. Such
strength as that party has drawn from
its Roman Catholic supporters is at
tributable to the consistency with which
it has adhered to the great principle of
sectarian nua-interference and the ut
most liberty of conscience to all citi
zens. The undue ascendancy of the
Roman Catholic element in its ranks
has never been and never will be a mat
ter of solicitude to the Democracy. On
the other hand, that element fu'liy un
derstands to what degree their enjoy
ment of the rights guaranteed by the
Constitution depend upou the perpetu
ation aud success of the party with
which they are identified. The Mary
land malcontents will have to try some
other ruse.
A graduate of the Troy High School
misbehaved at the commencement ex
ercises, and by way of punishment the
faculty refused to give him a diploma.
He will bring suit to compel them to
yield up the document, claiming that
as he had passed the examination, they
had no light to keep it from him.
The demi-monde of Paris think the
tie-back style the ladies affect so much
too immodest for them.