Newspaper Page Text
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CLINCH COUNTY NEWS
voi. m.
BIG FIRM FAILS
FOR MILLIONS
-
Price, McCormick & Co., at New
York, Go to the Wall.
LIABILITIES REACH $13,090,00(1
Had Extended Wire Service and
Controlled Much Southern
Stock Business.
Trice, McCormick A Co., one of the
largest brokerage houses in New York
city, failed Thursday with liabilities
estimated at $13,000,000. The firm is
a member of the Stock, Cotton and
I roduce Exchanges and of the Chicago
Stock Exchange, and has branch offices
iu about thirty cities throughout the
United States.
The failure is ascribed to this fact
that the firm was long on cotton iu the
face of a fast falling market. A notice
on the doors of the offices of the enm
pany referred all inquiries to William
J. Curtis and William X. Cromwell,
nssiguees. Mr. Cromwell saul late
Tliursday afternoon that it was impos¬
sible to make any statement at that
hour concerning the conditiou of the
firm; that its business is very extended
and covers several branch agencies.
The total liabilities, he said, are about
$13,000,000, nearly all of which u as
secured. He added that a statement
would be submitted to the creditors at
tho earliest possible date.
The firm is composed of Theodore H.
Price, William G. McCormick, R. (r
M. Stewart-Wortley and Walter W.
Price, with George Crocker, of Sun
Francisco, a special partner on on in
vestment of $.>.('00,000. Mr. MoGor
mick is of the well known Chicago
family of agricultural implement fame,
and Mr. Stewart-Wortley is a sou iu
law of Lear Admiral Schley. 1 lie firm
wu9 organized January 2, 1871.
Following the announcement of the
failure the eottou market became
stiicken, and broke 10 to 13 points.
9 he extent of decline from the highest
price when the hull movement eulmi
nated h® 9 been 122 points. Later iu
tho day the market became more quiet
ami recovered from the depression.
Assignees William J. Curtis and
William Nelsou Cromwell made the
followiug announcement regarding the
f^iiuge:
“To the Creditors of Price, McCor
jnick k Oo.: Price, McCormick & Co
have been compelled to temp rarily
suspend payment. We ask and advise
that creditors holding the stocks,
boBds and other collateral to loans
and already well margined, ho'd the
loans until seasonable opportunity be
offered the assignees to deal wiili the
same, that unnecessary losses thereby
may be avoided/’
Price, McCormick k Co. Ln>l an
extended wire service, ami at times
were credited as doing fully as largo a
business as any firm on the exchange,
Much of the business of the firm w as
in the cotton exchange at first, and its
senior member and organizer was
formerly of the firm of Hnbbard, Price
& Co. At that time the older firm had
a large southern business. The present
firm controlled much of the southern
stock business, and has been very act¬
ive at times in stocks favored by linos south¬
ern operators, ulthongh its of
trade Lave been far less in volume
than its regular commission business
obtained through its wire service to
outside cities.
Price, McCormick A Co. have sev¬
eral branches in New England. A.
W. Hogin, of Hogin & Co., Memphis,
Tenn., correspondents cf Price, Mc¬
Cormick & Co., said (hat his firm
would lose but little by reason of the
failure.
Quite a stir was cansed in cotton
circles iu Waco, Texas, when the fail¬
ure was announced. A member of the
firm operating on the cotton exchange,
and . who . . . know,
is in a position to says
that no one on the leased wire in
Texas was caught by the failure.
It is estimated that the losses in
San Francisco in cotton and stock
through the failure of Price, McCor¬
mick & Co. will be close to the half
million point.
LAST OF THE DUELISTS,
Captain I’ag« McCarty Passes Away at
Richmond, Va.
Captain Poge McCarty, the cele
brated editor and dnelist, died Iridoy
evening at the retreat for the sick in
Richmond, \a., after many days ill
ne88 -
C'aptain Page McCarty duelists. was the last
of the famous southern He
was in May, 1873, one of the princi
pals in an affair that was romantic as
well as fatal. He killed John Mor
deeai, a prominent lawyer, and was
himself terribly wounded. The lady
who was at that time the belle of the
south was the innocent oause of this
duel.
TtLO OfElolal Organ of Ollnoli County.
STEVENS' LITE THREATENED.
Governor of Missouri Says Law¬
lessness riust Be Stopped at
all Hazzarils.
Thursday was the 17th day of the
strike inaugurated by the employes of
the St. Louis Transit Company, with
a settlement apparently further away
than ever, neither side to the coutro
versy seeming willing to advance any
^position to end it.
I he Transit Company has resumed
service ou nearly all of its lines. Non
union men continue to come in from
other cities, and as they arrive the
company puts them to work. Word
\v#i received from Cleveland that
forty two ex-employes of the Big
Consolidated street ear system had
been sent to take the places of strikers,
Thus far no general sympathy strike
among the labor unions has been call
ed, as had been expected there would
Different trades and labor organ
. showing their sympathy
izatmny arc
witb the strikers by contributing to
their support and passing rules fining
members for riding on the street cars.
Union labor has brought the World’s
Fair question into the strike question.
At a mass meeting held Wednesday
night a resolution was passed to the
effect that all union labor throughout
the United States bo asked to instruct
their representatives to oppose the
passage of the World's Fair appropria
lion hill unless the St. Lonis Transit
company settles the strike satisfacto
rily to its former employes.
Since *he strike began 200 arrests of
persons alleged to have violated the law
in its connection have been made, 25
warrants have been issued, ten iudict
rneuts reported by the grand jury and
the remainder of the cases have been
taken to the police and United States
court*, where many of them are still
pending.
Governor Stephens was in the city
Thursday for a conference with the po
lice authorities on the strike situation.
To a reporter tho Governor said:
“I alu satisfied that the trouble
along the street car lines aud the
whole spirit of anarchy which is pre¬
vailing in the city of St. Louis at
present is being fomented and extend
ed by the machinations of a certain co
tcrie of Dcmociatic politicians who
hope by their course to in some man
tier make gains; in the approaching
j arty primaries. This element is sc
curing speakers to meetings held to
express sympathy for the strikers all
over the city and materially encourage
disorder.
“These persons are responsible for
many of the outrages of the past few
days. It is as a result of their move
meets that I have received mauy !et
tors threatening my life should J con
tinue to do my duty aud provide offi
j cers to keep the peace.
< t I desire to say further that if as
! governor of Missouri with all the
power vested in that office I oauuot-put
a u end to the disgraceful condition
that has prevailed iu St. Louis I shall
i employ every iota of that power,
“Theriot and disorder of every mi
; awful kind mast cease."
A statement compiled Thursday
shows that since the strike began three
persons have been sho* and killed, 15
wounded by lullots aud 13 otherwise
injured.
\ .M RS, DAY IS DECLINES,
Cannot He will, Confe<l<<r»te Veterans
Owing to Uncertain Health.
A Louisville dispatch says: Judge
! H W. Bruce, the chairman of the con
.
vention committee of the confederate
reunion, has received the following
letter from Mrs. Davis, widow of Jef
ferson Davis:
Your kind invitation on the part of
the United Confederate Veterans has
been received, and I regret to say that
my health is so uncertain that I can
not possibly have the pleasure of be
, ing with yon, great as it would be to
j me. However, the date set for it has
given me comfort, in the assur
: anee it conveys that my hus¬
band's friends and comrades desire to
hold him in affectionate and reverend
memory. I wish with all my heart I
. could go to meet our friends, but in
a] , eventg j Ben(1 loving Hympatb y,
aD1 , our tw0 childreD wilJ be present
with you—my daughter, Mrs. I. A.
Hayes, and my grand-daughter, Miss
Varina Hayes. With affectionate mes¬
sages to our veterans, I am very cor¬
> dially yours,
plus. V. Jbfteson Davis.
“THERE ARE OTHERS.”
Official Just From Cuba Kays Customs
Service I* luvoiycd.
A Washington special says: The
exposure of the frauds and corruption
in the postal service in Cuba is only
the beginning of a series of explosions
i that will probably shake every depart
me ut under military rule in the island,
Now comes the direct information
from an official of the customs serviee,
! w ho has just returned to Washington
from Havana, that the enstoms service
j n the island is honeyoombed with
f ra u<l of the most flagrant kind and
tba t the peculations of high officials in
this department will eclipse those by
j the Rathborne, Neely, Reeves gang.
liOMEItVILLB. GA.. FRIDAY. .IIJNE 1. 1900.
BRITISH ARMY UNITED
General Hamilton’s Forces Join
Those of Lord Roberts,
A RAPID ADVANCE IS BEING MADE
Burglier# Destroy Bridges oil the Retreat
Across,Vaal River— if heir Movements
Mysterious.
A London special says: Tho latest
intelligence from Lord Roberts’ head¬
quarters at Vredefort station, filoo
Thursday at 5:45 p. m., was that the
British were rapidly advancing. Gen
eral Hamilton had offeeted a junction
with Lord Boberts. The country ii
from of them was dear of Boors to Yil
joen’s drift. The Boers were evacuat
ing all their positions south of the
Vaal river and 5,000had already cross¬
ed to the north bank. Probably Gen
eral French’s cavalry is already recon
noitering the fords of the Vaal,
War office observers expect that the
next dispatch from the field marshal
will be dated iu sight of tfio Trans¬
vaal frontier.
Mr. Bennett Burleigh, wiring to the
Daily Telegraph from Vredefort Thurs¬
day morning, said Lord Roberts would
doubtless cross tho Vaal river Satur¬
day or Sunday. The British outposts
were then at Erste Goluk, uiue
miles north of Vredefort and
twenty-six miles south of the
Vaal river. The railway is much
damaged. While the British in over¬
whelming force are approaching tin
Transvaal the movement of the Boers
are enveloped iu mystery. The last
Pretoria news to reach Lonrenzo
Marques was a week old. Everybody
seeking to cross tho Portuguese bor¬
der from the Trauvaal is searched for
newspapers and letters. Dispatches
and mail letters containing even
harmless references to the war are
suppressed; the only news that has
emerged from the Transvaal during
the last ten days has come by word of
mouth.
According to these oral reports
Boers were quarreling among them¬
selves. Transvaal paper money was
circulating at 80 per cent discount.
Beekets’ firm was giving one pound in
gold for five pounds in paper. Krouz
and Klinke, the engineers who oppos
ed the blowing up of the mines,
been dismissed. Commandant Schulte
had been appointed to defend Johan¬
nesburg, ami all the British subjects
had been turned out. The Transv.ral
ers fear that tho British will blow up
the bridge at Komati poort, thus cut¬
ting off their supplies from Delagoa,
and a commando of'500 is guarding
the bridge.
It is reasserted that President Kru¬
ger will retire to Lydenburg
fighting is imminent at
and Pretoria. Oonoeru is
at Pretoria with reforenco to ttie
sibility that General Carrington
eomo down from Rhodesia with
men to co-operate with as many
entering tho Transvaal by way
Mafeking. Horse sickness is raid
have broken out among Genoral
rington’s brigade.
Cecil Rhodes is at Bier,
East Africa. Mr. Fuller, a
of the Capo parliament, who is
posed to ho a confidant of Mr. Rhodes,
said iu the course of a speech at
Town Wednesday, when proposing
health of Mr. Rhodes, that the
“was working to consolidate
Africa from the Zambesi .to
Bay.”
Major Baden-Powell declines to act
on the suggestions of his friends that
he should return to England for rest.
He is determined to retain his
command at the front. Advices from
Mafeking dated May 2 )th, say:
“The Boers are intrenching at
fontein, ten miles east of Mafeking.
The northern railway is now repaired
to a point within four miles of the
town. Ample supplies of plain food
are coming in.
“Colonel Baden-Powell
gave up fifty-three Boers and
wounded to the Boer commandant,
who thanked him for his kindness.”
The Barantongs, stimulated by
British success, attacked the
natives at Belfonteiri May 19th,
took much loot. They released Haui,
the old chief, who rendered good
vice to the British in keeping
with news of the Boer operations.
MOB ATTACKS CAR.
St. LonU Policemen Fit® Into » Crowd
and Volley In Returned.
A car on the Jefferson avenue lino
at St. Louis as attacked Friday after¬
noon by a crowd of men and boys,
several shots being fired. The police¬
man on board the car returned tho
fire and in all about 100 shots were
exchanged. Peter Wells, a patrolman
who was riding on the front platform,
was hit in the left armpit, the
producing an ugly wound. It is
known who fired the shot. It
rumored that two men in the
werfi shot, but they coaid not be
by the police.
EXTRADITION
CAUSED A TILT
Bill Intended to Cover the Neely
Case Before the House.
BRINGS UP LIVELY DISCUSSION
Repeal of War Tax Bill Also On
the Boards—Lively Debate
In the Senate.
A Washington special says: Quito
a lively debate occurred iu the house
Wednesday over the extradition bill.
The bill reported was general in its
terms. It was intended to meet the
case of Neely, who stole the Cuban
postal funds. The Democrats sup¬
ported Mr. DeArmond’s amendment
to confine the operation of the bill to
Cuba. Mr. Clayton, of Alabama, stated
the Democratic position in a breezy
speech, in the course of which he
said:
“This kind of legislation is unpre¬
cedented in the history of tho country.
Why tho necessity of this measure be¬
fore this congress? The uniform policy
of this government for over a hundred
years has been to refuse to pass such
a law as this. The policy has been to
permit the extradition of citizens only
in cases where treaty provisions make
it our duty so to do.
“Now, why is this settled policy of
the government to be changed? Gen¬
tlemen who are familiar with this sub¬
ject will recollect tho Morrill resolu¬
tion, offered some years ago, on this
subject, and they will recollect some
other attempts. Why the necessity of
this legislation? It is because this
government has not lived up to its an¬
cient policies and traditions. It is be¬
cause this government is not observing
the constitution with that strict regard
that the futhers regarded it. It is be¬
cause this government has not lived
up to its pledges with made Spain, in namely the declara¬ that
tion of war
Cuba should be free.
Mr. Fleming, of Georgia, also made
a speech iu favor the Democratic
position.
The blind chaplain iu his invocation
rather startled the house by referring
to the Cuban frauds, which, he said,
brought the blush of shame to the
cheek of every true Amertean.
“Wo pray,” he continued, ’’that the
culprit will be brought to speedy jus¬
tice, that we may iu dealing give an object with perfidy lesson
to the world
and fraud.”
The house also adopted the resolu¬
tion to allow the committeo on ways
and means to ait during the recess of
congress for the purpose of framing a
bill for the reduction of tho war reven¬
ues and a resolution for a sine die ad¬
journment June 0th.
Mr. Richardson declared emphati¬
cally that congress ought not to ad¬
journ until some provision had been
made for the reduction of the war
taxes. Tho report of tho secretary of
the treasury showed that the surplus
nt, the end of the fiscal year would be
$90,000,000. The gentleman from
New York might juggle figures, hut he
could not get away from the fact that
the secretary of tho treasury said there
would be a vast surplus June 30th.
Mr. Richardson said he was in favor
of repealing the tax on beer. (Demo¬
cratic applause.)
Mr. Undeiwood, of Alabama, and
Mr. Fitzgerald, of Massachusetts, also
insisted on immediate repeal.
Mr. Sulzer, of New York, declared
that the Republicans never intended
to repeal the war revenue act and were
playing politics.
“There wiil be no repeal of this
law,” said he, “until William J. Bryan
sends his first message from the white
house.”
The adjournment resolution was
adopted without division.
CONTltOVKRSY IN THIS BKNATK,
Wednesday was a day of rasping po¬
litical controversy aud oratory in the
senate. With the controversy, those
of the Democratic side of the chamber,
anomalous as it may seem, had little
to do. What by far-seeing senators is
regarded as likely to be the paramount
issue of the approaching national cam¬
paign was the subject of two notable
speeches, one by Mr. Platt, of Con¬
necticut, and the other by Mr. Spoon¬
er, of Wisconsin. The former was an
answer to the speech delivered a few
days ago by Mr. Bacon, of Georgia,
on bus resolution demanding an inves¬
tigation of financial affairs in Cuba.
The speech of Mr. Spooner was a
continuation of hjs address on the
Philippine question. }n heated its course he
became involved in a and sen¬
sational colloquy with Mr. Hale, of
Maine, over the government’s conduct
of affairs in our “insular possessions.”
It was a remarkable controversy be¬
tween two of the best equipped de¬
baters in the senate and was listened
to with profound attention by sena¬
tors.
ARMY OFFICERS ANGRY
They Make Vehement Denial of
Charges of Alleged Extrava
gant Living In Cuba,
American officials iu Havana feel
that they have been unjustly treated
by certain newspapers in the United
States, which have published the
sweeping statement that they all live
extravagantly. Army officers point
out that if they have to live iu cities
their expenses are much greater than
when at home. Moreover, very few
care to risk the health of their families
by keeping them in Cuba during the
summer. Thus two establishments
are necessary. As long as their duties
compel thorn to live in a tropioal cli¬
mate, they feel that the United States
government, like other governments,
under similar conditions, should pay
additional stipends.
So far as the officers of high rank are
cocerned, it should be pointed out that
General Wood occupies only a small
portion of the palace for residential
purposes, the rest of the building be¬
ing utilized not only for divisional
offices, but also for all the municipal
offices. A number of employes have
to be kept at General Wood’s expense
—cleaners and helpers generally.—and
he says that if he did not have some
private resources to eke out his pay
and his allowances, it would be next
to impossible for him to live in the
palace at all.
Collector Bliss lives quietly in a
single room at the Hotel Telegrafo,
going to and returning from his office
in a hired vehicle of the most ordinary
description. Major Ladd, chief quar¬
termaster, lives at El Vedada in a
house which he shares with three
other families. General Lee lives at
headquarters at Quemados, where do
all his staff officers who are unmarried.
General Wilson, governor of Matanzas
Bautn Clara, lives iu a house fur which
he pays a small rental. Colonel Whit
side, at Santiago, lives in a little
wooden bungalow, formerly occupied
by General Wood and leased from
Mrs. Ramsden, wife of the former
British consul.
Major General Humphrey, Colonel Black,
Scott, Captain Piloher and many
officers live in buildings used by the
government either as offices or police
barracks. General Wood, when asked
what he thought of such charges, re¬
plied that he considered charges of
extravagance iu departments, except
the postal, unfounded, adding that he
believed no other department had any¬
thing to fear on that score and that all
could endure lho closest investigation
possible.
A postal official who has been in the
island more than a year says that when
the Americans first came there were no
records and no furniture even, that
Spanish postmasters, the only ones
who knew anything about it, could
not be employed because of the cry
“Cuba for Cubans,” that consequently
the service had to he built upon practi¬
cally no foundation at all. He also
points out that Cuban postmasters were
found very difficult to teach.
The loose methods of former times
have been carried on at some points,
even to the present day. Oue feature
that eunhled C. I 1 '. W. Neely to divert
funds in a fashion exceedingly diffi¬
cult to detect was the custom of many
postmasters to pay cash for all stamps
taken from the department, while
there was no rule for keeping books of
account. As a result the inspectors
had no way of ascertaining how many
stamps had been sold, and the state¬
ment of Neely, if in collusion with the
postmaster, would tally with the lat¬
ter’s statement.
This official believes that when all
the books and papers have been in¬
vestigated the shortage will not amount
to more than $100,000. It is probable,
however, that $20,000 more has been
taken, which cannot be traced. His
estimate is consequently a mere sur
miso.
BACON MAY SERVE
On Committee Which Will Oo to Calm to
InveMtisrnte.
A Washington dispatch says: It is
very probable that Senator Bacon will
be called on to serve as one of the
members of the committeo to investi¬
gate the scandalB in Cuba. The Bacon
resolutions provide that tho investiga¬
tion be conducted by the committee on
relations with Cuba, but it is alto¬
gether likely that some changes will
be made in tho personnel of the com¬
mittee in order to have the work done.
Several of the Republicans on the com¬
mittee do not want to nerve.
CONFEDERATE BATTLE FLAGS
May lie Returned To Southern States
Through Action of Congress.
A special to The Chicago Times
Herald from Washington says:
“During the G. A. II. encampment
in Chicago President McKinley may
have the pleasure of returning to the
southern- states tho Confederate battle
flags now in the war department.”
“Prominent members of the Grand
Army of the Republic have in hand a
plan to secure the authorization of
congress for the return of these flags,
and it is hoped both houses will pass
the neoessary joint resolution before
adjournment.”
NO. 31.
BRITONS INVADE
THETRANSVAAL
Lord Roberts Is Now In Territory
of the Boers.
NEARING JOHANNESBURG CITY
Where It Is Said Tons of Dynamite
Await Invaders—End of the
War May Now Be Near.
When Lord Roberts wrote his first
dispatch on Transvaal territory Sun¬
day, shortly before 2 o’clock in the
afternoon, he was fifty-one miles from
Johannesburg and seventy-seven from
Pretoria. His immensely superior
foroes had passed the Vaal river, their
last great obstacle, at three points.
The Vaal forms a curve of eighty
miles from Pary’s on the west to Zand
Drift on the east. Tho concave of tho
curve is toward the Free State. Thus
Lord Roberts, advancing along the
railway, as in a position to strike any
part of the crescent by shorter lines
than those by which the Boers could
re-enforce the threatened points. The
Roers rotreated almost without a show
of defense.
General French and General Hamil¬
ton apparently did not fire a shot.
Of Lord Roberts’ immediate force
eleven men, belonging to the Eighth
mounted infantry, were the first to
ford the river. They came upon a
Boer patrol looting at Viljoen's Drift
and skirmish lasting ten minutes
followed. Two huudred Boers tried
feebly to hold the Veredoniging ool
liery, but they were dislodged.
Tbe Boer rear guard is at Meyerton,
ton miles south of Veredeuiging.
Their main body is moving toward the
Klip river hills, that cover the south
side of Johannesburg.
While Lord Roberts’ 30,000 infan¬
try, 20,000 horses and 150 guns are
moving on Johannesburg, and Preto¬
ria, through a parched and deserted
country, the situation at the Transvaal
capital as it was last Friday, is thus
described by an observer, who sent his
message by private hand to Lonrenzo
Marques Saturday:
“The situation, both from a military
and n political point of view, has be¬
come very critical. President Kruger
Thurssday admitted that matters arc
very grave. The Boer determination
is to trust everything to a last stand
on the Gats Rabd mountains, to the
north of Potehefstroom, where 8,000
kaffirs are digging trenches. To that
point every available man and gun
have been sent.
“Tho whole of the western border
of the Transvaal from end to end is
defenseless and General Baden-Powell
can march in when he likes. Lord
Roberts, on the other hand, will cu
counter the greatest resistance. The
Roer endeavor is to lure the British
into appearing to threaten Johannes¬
burg with attack, an excuse thus be¬
ing given them for the destruction of
property. The Transvaal government
will not dare destroy the mines and
property without an excuse. Much
dynamite has been sent down tho line
and 1(50,000 cases lie ready at Zunr
foutein, near Johannesburg.
“General Lonis Botha and General
Lncas Meyer have pleaded for the
preservation of property. Both are
largo landed proprietors and fear con¬
fiscation, but they have not received
satisfactory replies from President
Kruger.
“Meanwhile many French and Ger¬
man adventurers have eome forward
with schemes and inventions for blow¬
ing up the British troops, Some of
those have received a tacit permission
to experiment. One German inven¬
tion is for use on a railway, where it
lios perfectly concealed until the
weight of a passing train explodes the
charge.
President Kruger’s proclamation to
tho burghers asking their vote for and
against continuing the war is under¬
stood to say that they oan quit now
with the prospect of retaining their
farms or continue to the bitter end.
Rumors are current in Lord Roberts’
army that tho Boers intend to sur¬
render.
FOUR BISHOPS CONSECRATED
At Conference of Motli oil 1.1 fiplioopat
Church In Chicago.
By the laying on of the hands of
twelve bishops and in the presence of
8,000 persons at the auditorium in
Chicago four new bishops of the Meth¬
odist Bpisoopal church were conse¬
crated Sunday afternoon. The newly
consecrated bishops are:
David Hastings Moore, assigned to
tho Shanghai district; John William
Hamilton, assigned to San Fran¬
cisco district; Edwin Wallace Par?
ker and Frank Wesley Ware, mis¬
sionary bishops, assigned to India and
Mulnysia. The ceremonies were brief
and simple.