Terre Haute Weekly Gazette, Terre Haute, Vigo County, 31 July 1879 — Page 1

1

eriT

0*

VOLlt-NO.37.

RIGHTING WRIGHT.

Thi* i« the V. few Entertained fry L. J. Gag'j, George Schneider, and Secretary Charl Be

Randolph.

G®' jrp M. Sloan, a Farmer, «nd /oseph Eastman, a Contractor, Give Similar

Opt nieos.

From the Chicago Inter-Ocean otf Tuesday. The Congressional committee to in* vestigate business depression in the country hdld their first session in this city yesterday morning. Chairman H. B. Wright presided, and his colleagues present were Messrs. M. P. O'Conor^South Carolina Martin, North Carolina J. C. Sherwin, Illinois, and 'M. ft. (Dickey, Ohio. There wasqulte a large attendance of citizens in the Tremont House club-room when the proceedings opened, about 10:30 o'clock.

MR. L. J. GAGE,

of the First National Bank, was the first gentleman to be examined. He said the average deposits held by the banks was $30,000,000. The rate of discount had been tor some time from 6 to 8 per cent. There had never been a deficiency of money during tike last ten years to meet the domestic demands.

Mr. Wright asked if iie thought there was a necessity for any increase of the currency? "I cannot conceive of their being any necessity for such increase of the currency at the present, .time. Ten years

back, also, I thank there was no necessity." Mr. Wright—louring the ten years paft do you think the banking business has been in as good and sound -condition as you could desire?

Mr, Gage—During the last ten years, or rather in the diet six or seven years, the banking interest as a whole has suffered heavily from the failure of iparties against whom it had claims, reduction in value of securities of all kinds owned by the banking interest. But this lose and this depreciation has, in my opinion, reached its limit, and (for the last year or two the condition of the business i6 sounder than before.

The condition of Chicago was undoubtedly more prosperous than then, and he thought the banking business of the city was in a healthy condition, with reasonable profits. Bankers regulate the amount of discount according to the amounts on deposit.

Mr. Wright—You would supply additional demands not from additional currency but from deposits in the'bank?

Answer—From deposits and from increased capital getting its-way into the banking business.

Mr. Wright—You would not want additional cnrrency added to meet that additional demand?

Answer—No. i-\ t,. Mr. Wright—Suppose that CHICAGO'S BUSINESS SHOULD BE

DOUBLES—

the demand double what it is

„t€^

now:—

could you supply that without additional currency Answer—I think so. There would be additional money put into the business by that I do not mean deposits, but the money of capitalists.

Mr. Gage thought that no*v the general industries of Chicago are in a state of good average condition. The present period would compare well, in this respect, with any period of her previous existence. There was formerly a much larger demand for banking accommodation here, but the demand was now slow* ly and surely increasing.

Mr. Wright—As a general thing, have the banks paid up their stock subscriptions in full

Mr. Gage—I know of no exception to that rule. The currency contraction question—do you think that the reduction of the volume of currency more than one-half has been more than it should have been

Answer—No, sir that is not my opinion. Mr. Wright—You do not think, then, the contraction of the currency was calculated to depress the interests of the country in any way

Answer—1* have no doubt that the withdrawal, or partial funding, of this volume of indebtedness has operated somewhat to depress business within the last eight or ten years, but, in my opinion, it has not operated 60 as to be a

1

very essential factor. However, the subject is a large one, and can unly be answered intelligently by a much wider consideration than I am able to give it, at the present time, at any rate. It would involve the necessity of considering the causes that led to the rise in prices of labor and of other commodities, the great extension of credits, which was an incident of the rise of prices my opinion being that the depression was mainly a a reaction toward a normal standard ot relations which had been unnaturally dis-

turbed bv \he causes that led to the increase Q| price* of commodities, land

andJr

caP'

mr

_., —. .i ibct of a shrinkage of real estate here The First Qay $• S888i0n of tllO |nrtt8un(loabted. Yet, taking the value Congressional Investigating !|-of real estate in actual use for business

Commission.

'y-

It is Conceded by nu That Prospects are Be

/tterHere

Than for Arjy Time in Five' fears.

Jbor, and. the immense transfer of

xtl into fixed torms, as railroads,

iiwrfactorieR, etc. To Mr. Dickey the gentleman said the

and residence purposes, he thought that the purchasing power of the present salable price, as against commodities in general, was not essentially different from the porchasing power of the salabls price of seven years ago.

THE DECLINE OF LAND

in out lying parts had been out of proportion to that of property already rented.

Replying to Mr. Dickey, of Ohio, witness said he did not think legislation had caused the business depression.

Mr. Dickey—Do you think legislation would relieve that depression? If so, what legislation?

Answer—I do not profess to be wise enough to be able to cure by legislation all the ills that society suffets. I think the duty of legislation is to define the obligations of citizens to each other to secure enforcement of individual rights. In the matter of finance I believe that the government should confine its operations to the maintenance of its own financial obligations, and interfere as little as possible in general industries.

The gentleman thought yes, that existing laws regarding finance should be changed. In what respect? If his opinion were insisted on, though he knew it would be receiveJ by many with utter con temp, he would say that, if he had his way, he would repeal the legal tender quality of the United Stales notes. He would pay them at par on demand, and would issue them no more. He would make gold coin and silver dollars exchangeatrfe with each other at the subtreasuries of the United States. He would suppress the issues ol small notes under $5 and retire those outstanding against ths government as rapidly as posssible. He would have demand notes circulate until holders wanted their coin. He would simply the stnell notes, under $5, by bonds.

To Mr. Wright—I should be willing to issue new notes whenever called for as a loan and to be classed as part of the indebtedness of the 'United 'Slates.

To Mr. Diokey—Yes, sir, I am a bimetallism To Mr. Martin—I do not'think there is a disproportionate surplus of unemployed men in Chicago. *MR. GOORGE SOHNSDBR, President of the National Bank of Illinois, was the second gentleman examined. He did not think more currency was needed to discharge the ordinary business of this city. All such demands are now met. From siac to eight per cent, is the rate of discount, the latter being the legal rate. 'Formerly it had sometimes been ten per cent.

Continuing, the gentleman replied in substance: I think business has been growing gradually better for the past five years. There has been some depression of labor and industries notably of iron. I think we 'have escaped better than most other cities.

Chairman Wright—It looks to me very much so from what I have seen. The banks, Mr. Schneider went on, can undoubtedly meet any increassng demand of business. In my judgment, I repeat, no new issue ot currency by the government is needed. I think it was a wise policy to reduce the currency down to its present amount. This means may have depressed speculation, but the country at large, 1 think, is benefitted. We want a solid, legitimate base bor business and not a wild speculative one. There is money and activity in Chicago sufficient to employ -men to a moderate degree.

Replying to Mr. O'Conor I know there has been some complaint among workingmen since 1872. I think, however. they own more property to the individual than in any other city. "There has been a great and increasing number of bankruptcies here, has there not?" "Yes," was the response. &jg Jl "Have not the bankruptcies increased in number since the repeal ot ,'the -bankruptcy law?" "I cannot say so."

Answering father, Mr. Schneider said: "Most cf our manufacturing firms are composed of men who were formerly laborers. This is true of our very large furniture manufacturing interest."

Mr. O'Conor— Hat not every cftken of Chicago been the architect of his own fortune?

Mr. Schneider thought'great numtars had grown rich and macv poor. To Mr. Sherwin—The business «f Chicago is now

APPROACH! KG A BEXTBR STATE than it has been in at any other time in my knowledge of this country. I have been here since 1849. I know of no fixed rule to determine the amount of currency that may be needed. It cannot, in my opinion, b« determined arbitrarily by Congress, and I think we should have as little legislation on finances as possible. Last year, 1878, the volume of agricultural, livestock, and mercantile business was larger than the preceding year. Stock-raising in Europe is decreasing in consequence of the dividing up of the large estates.

To Mr. Martin—Yes, sir, with due respect to the committee, let there be as little financial legislation as possible.

Laughter.] Mr. George M. Sloan, a lawyer up till the time of the fire, and now a farmer, took the stand.

Many farmers, he said, had been ruined by the panic and the bad times. Many had gone West, and others struggled under mortgages. With ^ome. Qf his per* sonal acquaintances he could say that farms in ihe outlj ing counties were mortgaged up to the fuH value of the property. During five years small farms had shown little or no improvement. Large farms, using machinery and raising special products, bad done better. Farm

TERRE HAUTE, END:..—THURSDAY, JULY 31, 1879,

products, such as family supplies, had increased in volume during five years. The wa^es of farm hands ranged during the spring from 75 cents to $1. Per month they got. say £22. The year before it was $26, and four years ago about $30. The present price of farm labor is lowering, undoubtedly.

THE DEMAND FOR LABORERS

depended largely on the year. Many laborers had been driyen away by legislation. In Wisconsin the laws made it penal to ask for food, the statute being designed against tramps. This had really destroyed the surplus of laborers. Hard handed laborers had been met in droves, coming along the highways from Milwaukee toCnicago, seeking employment at any price. The farmers, excited by the papers, had a great prejudice against this class, and seemed blind to the fact that three-fourths of these people Were honest laborers, simply out of employment.

Mr. Wright—What effect has laborsavihg machinery on laboring men? It ought to have a beneficial effect, witness said, and he rather thought it did More skill was needed to operate the machines, and this extra skill brought ex tra pay to employes. In the occupation of reaping fewer men were employed, it is true, but there was a corresponding increase of land to be reaped.

To Mr. W right—The prices of cereals have not gone booming at all. No, I don't think the wave of success, if it has entered Chicago, has reached us farmers yet.

As to the explanation of the mortgages on farms, witness said the chief reason was the purchase of extra land in flush times and then decreasing value.

Mr. Dickey—Is there, Mr. Sloan, a surplus of idle men? Answer—Undoubtedly. The streets and the country roads are full of unemployed men, and I think the majority, by their'hard handed look, are workingmen, and would work if they got a chance. Of course there are vagabonds, like those in the alley of thie Board of Trade, who would starve first before they would work.

Mr. Charles Randolph, Secretary of the Board of Trade, was the next witness. In his opinion the mercantile business of the city had been steadily increasing since the fall of tSjj After the panic of that year the value of real' estate continued to depreciate. Manufacturers, he understood, were working upon a small margin, But he understood that this branch of trade had nothing to complain of. There was -a gerc al imorovernen on all hands in riHibranphis trade, lie considered the Northwest belter off in this regard than ,any other part of the country. Chicago's municipal debt Was but small. The 'Citizen* individually owed much on the'feuildings that had been put up after the 'fire. There was much ex-1 travagance, as nearly all- the buildings went up much finer than Were the origiinal ones. ., "Without .doubt," witneHAf Continued, "there was an abundaru supply of money in Gmeago to meet'^ihe buainefs demands. He thought we £ould double! the amount .cf business (hit was now doing, on the same capital There had been very many bankruptcies here. The most of these were due to shrinkages of values. Perhaps a quarter of the bankrupts were bankrupt for long years, but their pride made them conceal the fact for long years. The recent shrinkage of values, as of real estate and tnerchandise, had caused the great majority of collapses." "What waa the chief cause of theshrinkagen"' said onfe of the Southerners.

It was, said witness, thie undue inflation of prices the. J-vT,* 'v

Witness paid his men for ten hours' work, and paid them twice a month. Ten hours made a day's work, except with the stonecutters, who worked eight hours. "How do you-account for this exception?" said Mx. Wright. "The stonecutters had managed to tatry their point ever since the first movement in

t86tf

Mr.

for eight hours a day.

Their trades unions had maintained 'this conquest.'" Witness thought Chicago was prosper.ous now, and would be for about four years more, when he believed we were going to have another panic. Having been out of work for some time, he had -•tudied up political economy a good deal and reached deliberately such a conclusion. This would be the result of "the self-adjusting balance of trade." The great cause of such troubles was that men had worked, and still work, as a customary thing, too many hours a day.

Martin, of North Carolina, asked witness it he ever gone South? Witness sai®e had.

WENT SOUTH WITA A GUN.'

Chairman Wright—And carried a gun, didn't you?" [Laughter from speaker and some in the audience.]

Witness—I believe I did. Mr. Wright—And do you recognize our friends here [pointing to the South Carolina and North Carolina Representatives]? You've met them before, I suppose. [Laughter.]

Mr. Wright {the old man laughing heartily at .his own words! However, Mr. Short-hand Clerk, rou needn't put down this rebel part

The Carolinians almost immediately left the hall. Replying to Mr. Sherwin, witness said he would remedy over-competition by

JS,S

reducing the hours of labor all around. He would hive a labor congress meet to do this.

To Mr. Dickey, witness said that another remedy would be to cut off interest. The great desideratum, however, was to regulate the hours of labor.

The committee then adjourned to meet at 10 o'clock this morning.

DEPRESSIONS^:

'fff*4'

inqiitry lits Its Cause iy Ifce C«n grenlsnai Canualttee.

Chicago,Tuly 28.—The Congressional committee, of which Hon. Hendrick B. Wright is chairman, began its inquiry to-day, into the caues of the depression in trade and industry. Lyman J. Gage, cashier of the First national bank, was the first witness. He regarded the present supply of money in the country as ample. Although t^n years back we had muck more money in circulation, yet the business ef Chicago is sounder to-day than ever before. He thought the return of prosperity began about eighteen months ago, and the outlook now is very favorable. Answering questions by Chairman Wright, he said doubtless the withdrawal of currency had operated to depress business during the past ten years, but had not operated so as to be a very essential factor. The depression was a reaction toward the normal standard, which was unnaturally disturbed by the war and it* results. The prosperity of business men and the rate of increase of population were greater ten years ago in Chicago than they are now^ but the amount of merchandise handled Here now is vastly greater than ten years ago. If asked what he would suggest in the way of legislation, he *aid he jwould repeal the legal tender quality ofS tl|e United Statet notes, would piy Jthem ojh demand to bearer, would make gott aria silver dollars Interchangeable at United States subtreaeuries, would stop thejssue. and retire outstanding notes untterik the value of five dollars as quickly as possi» ble. It woulo be a mistake to* repew the national banking law.

George Schneider, president of the national banluof Illinois, testified that he didn't believe J|n increasing the volume of the currency^'The city and its banks are in a healthy state to-day. The panic and the seapon of bankruptcy had strengthened rather than weakened Chicago, and bu«ness which began to be restive a yea^and a half ago is in fine condition. Hi thought the less Congress bothered wit&the finances the better

against

'f

KITB-FIAUNG STYLE OT DOING BtUUWESS

that prevailed for 60 long. Mr. Joseph Eastman*a contractor,yras the last witness of the day. He said|

'PROFITS OF HIS TRADE jfJ"

were much lower than formerly. Rents had decreased one-half on the average from the price of five years ago. He had been a plasterer by trade. Plasters had now $2.50 a day, and were now striking for $3. Five years ago they had $4 a day. The price of'building material had been stiffened t^dnring two years. Two years ago the cost of building fell to its lowest point, and has increased some since then.

for

the country.1 George M. Sloan, a farmer of Wiscon-1 sm.testified *hat farms were mortgagedj to their full value throughout the ^t*te. The price of farm labor was lowering, at: present being from 75 cents per day toifio per mouth. The penal law of Wis consin

begging had destroyed the

surplus of labor. The farmers seemed to fee blind to the fact that three-fourths of the j-called tramps are honest laborers out of work. He thougnt an increase of the currency would benifit Wisconsin. The panic of 1893 was caused by speculation among tne laboring classes. He thought the government committed a great wrong in contracting the currency contraction meant national socide it forced men to do with*one dollar what they had agreed to do with two. -Chas. Randolph, secretary of the board of trade, stated that the general business of the city had been steadily increasing since the tall of (873, and real estate had been decreasing in value. The Northwest was in better shape than any other part of the country. Abundant capital was now seeking permanent investment. He explained the condition of Chicago's finances, and stated that he believed not a city in the country was in better condition.

Joseph Eatmann, contractor and real estate dealer, gave testimony as to the decrease in rents, prices of labor -and material, etc. He thought the city would prosper for four years and then we should have another panic.

SLEEPY TOM

iitl!

HIS BURST OF SPEED ON THVRSBAV —HOW HIS DRIVER TAUCS TO HIM.

|.,i

rrom the Chicago Times."

When the word "go" was given for the third heat, "Sleepy" suddenly awoke to the fact that there was business on hand, and buckled into his work with such will to leave all his competitors far to the rear. He came in an easy winner, and the pool .buyers, who, on account has previous balks, had concluded they had made a -mistake, once more took to him very kindly. The fourth heat was a repetition of the third, with a little "more so "Sleepy" Tom went for the lead as a gra6r hopper goes for a June-bug. Awn he flew, faster and faster, as greater and greater became the distance between him nd his followers. But for the fact th.i the drivers of the other horses w.tipped up desperately at the close the enure field would have been shut out. •"Sleepy" Tom is evidently a great horse.

John Splan, the driver of Rams' by the way, tells A GOOD STOKY. about this sightless old fellow. He was at&ed to drive him a race at Columbus. To his surprise he lost the first two heats. "You don't understand him," 'said Ml old driver. "You must talk to him. Now, when you come to a turn you must say, "Turn, Tom', and when

you

get on the home-stretch you must

sav/"Go,

Tom they are afler u?.' Say

that, and he'll win." Splan said he would try the racket So, for fear he might forget the formula, he wrote it out, pinned it on his knee "right side up with care," so as to have it under his eye as he sat in the sulky, and started on the third heat. It is needless to say be won it. Be the above act or fiction, this much is certain, that Tom and his driver are on very intimate terms, and the latter leans forward and falks to his pet all through the race.

/f

YELLOW FEVER.

xpr A,«R

Four' New Caaei bat no Deatlui To-day.

fjif" .. 4,,

Washington Banker 6Ivm $2,000 to Relieve the ..

m-r*

Poor.

ly

-3ft •V fil

St**- 1 'J

5-.«

-0 $v..

Memphis, July

29.—Two

neW cases

were reported this afternoon. Four deaths from yellow fever have been reported by the under-takers. Ada Hic'ts, colored Eastey Otey, colored Bridget Towney, and John Towney. The two last have never been reported to the board of health as having the j^llow fever. Neither did the burial certificate have the signsture of the attending physician, but as both died within two hours of each other and had the black vomit just previous to dissolution, it was presumed by the undertaker that they had died of yellow fever. A colored man named

(5.

Wiggid also died to-day.

He had no physican and a member of the Howard association, whose attention was called to his death, had him buried and signed the certificate yellow fever. The board of health, however, refused to recognize the signature and classed the idcAth as unknown.

Saihuel A. Hatcher is reported in a ^Hdeil condition. THE HOWARD ASSOCIATION to-day assigned ten additional nurses to dotv.1

AbOtot fifty people went down to camp, this aflernoon. The weather has greatly interfered with the removal of the poor. The camp has been named Camp Marks, hi honor of the governor.

AT RALEIGH, TENN.

Late last night a messenger arrived from Raleigh, Tenn., for a nurse to at1* tend Dora, the daughter of Chief of Police Athey, who was reported down with the fever. ,, DISINFECTING.

New Orleans, Jfuly 29.—The work of disinfecting the city is going on vigorously. In the Fourth district every place has been disimected, from the river to Camp street, and from Seventheenth to Jackson. Similar work progressing rapidly in the First and S$ond districts.

I AT CINCINNATI^

R.

Cincinnati, July 29.—A Mr. Nash, a broker, who, reached here from Memphis, last Toursday, was removed to the hospi tal, to-day, sick with the yellow fever. Theattactis mild.

AT LOUISVILLE.

Louisville, July 29.—Quarantine is being made more effective by the| health officer and the president of the board of health, to-day. Instructions were issued to the managers and conductors of railroads, as also to all owners of steamboats arriving at and departing from the city of Louisville, to allow no baggage to pass into or out of the city until the same shall have been inspected or disinfected. Persons leaving the city, no matter in what direction they may go, will be compelled to have their baggage checked by one of the quarantine officers before the same will be allowed to leave the depot at this point.

No new cases of yellow fever have been reported here, and the only ones we have are tour in the yellow fever hospital, all imported cases and doing well. '"'AT ST. LOUIS.

St. Louis, July 26.—Lizzie 6randy, the little child of Mrs. Brandy, from Memphis, died ot yello* fever at the quarantine hospital, this p. M. No new cases have developed there yet.

CHOLERV IN IOWA.

Dubuque, Iowa, July

29.—A

disease

akin to cholera is ravaging Center Point, Linn county, this state. Fully twenty persons have died from its effects during the past thirteen days, and an equal number are sick. It is also raging in Walker, a little town seven miles from Center Point several deaths occured there. An order for forty coffins was received from Center Point, to-day, by a Dubuque un dertaker. The physicians of Center Point -are worn out, and the residents are fleeing from the place, nu'i-- jc

TODAYS' CASES.

Memphis, July 30.—Four new cases were reported to the Board of Health this morning, Rose Hendricks, John Creeden, C. H. Smith and Maggie Jawnes. No deaths had been reported up to noon.

W. W. CORCORAN,

Banker at Washington, D. C., has sent a check for $2,ouo to be used for the removal of the poor and destitute from the city. Of the sick Brooks, Wilson, S. A. Hatcher, Owen and Michael Athy are reported in a critical condition. The weather has settled.

PRESIDENT OF A DEFUNCT BANK ARRESTED. St Louis, July 30.—J. P. Kreiger,jr., president of the defunct Broadway savings bank, was arrested on the charge of embezzlement io connection with the alleged frauds committed by officers of that institution. He gave bonds and was released.

DOUBLE FRATRICIDE. Indianapolis, July 30.—A shooting affray occurred ai the farm residence of Lucas Covert, near Columbus, Ind., at the breakfast table this morning between his sons Henry and Aleck, in which! Henry was instantly killed and Ahck mortally wounded.

•1.50 PER YEAR.

FOREIGN.

("•ft W

*?1

sP

The Government Reintroduces the Bank Bill Recently Talked Out, /.

'If

PAROLE SECOND.

London, July 30.—Isononl is the favorite for the Goodwood cup race Parole next.

Paris, July 30.—The senatorial"1 committee on Jules Ferry's bill for remodeling the superior council of education has been nominated. Seven of the nine member* favor the bill, which is almost certain to pass before recess.

TURK18H TROOPS.

THE GOODWOOD RACE.

London, July 30.—The Goodwood: stakes race was won by Boy Archer Mistress cf Robes, 2nd Rochampton* 3"-

A VICTCRY FOR LORILLARD. London, July 30.—Lorillard's Geral dine won the Savant stakes «t the Goodwood meeting.

ORDERED READY FOR SERVICE, RAll the Indian troop ships are ordered ready for six months continual service with a view to bringing home the troops froom South Africa.

-.V

HONORS.'

Along list of honors has been conferred in connection with the Afghan. war. The principal persons so dwtin^ guished are Major Cavagnari, General#*! Shewoot, Browne, MauJe, Biddulph* Roberts and Lumsden, who are created knights, commanders of Bath.

ARMINO THE BRONTIER. London, July 30.—Turkey is still arming the Greek frontier.

The appointment to the head ot the" Turkish ministry of Aorefa Pasha is to pave the way for Mahomed Nedim Pasha. It is understood Nubar Pasha is. free to return to EgypL

THE GOODWOOD RACES.

London, July 29.—The race at Goodwood, to-day, for the Richmond stakes, for two-year olds, was won by Ben 7 D'Or the Adventurer colt, second Dora, third Lorillard's Papoose came in sixth.

THE TUILLERIES

-II I-~I "I II 111MB *#K-£

-4»

W?

*m i}

itA

:s *3

-v,uV* -i •.,=,*

i.

4 4

Diaastrooa Fire in a City on the Boflphorm f.

-y I

,4'

But Makes' it broader BO as to Reconcile Ireland and Scotland.

A CONSPIRACY.

Rome, July 2^.—The police have seized in a in in a is this city, copVs of the programme for theO reign of the Universal Republican" ,: association. The programme, whicht was intended for circulation throughout" Italy, saysthe time for action has arrived/ and invites members of the association.... to be prepared for the impending move-{ ment. Several arrests have been made.

MINISTERIAL RESPONSIBILITY. Constantinoble, July 29.—the cabinet council has resolved that the principle of ministerial responsibility insisted on: by the late grand vizier shall be carried out,.

THE TURKISH CURRENCY A

11

A SERIOUS RIOT

was reported at Pbilippolis. Aleka Pasha was threatened by tne people, and has

Ee

ublished a proclamation, declaring that will teturn to Constantinodle.. DAMAGED CROPS.

i^iVienna, July 29.—The sudden great heat, followed by rain, has damaged the crops in Hungary and Gallacia., aoax

•+!?,'

1

The condition of the currency in Con- $ stantinople becomes more deplorable daily.' a

5

5W (I

'i-M#

'i

WVLLS FELLER. ...

London, July 29.—A large portion-of wall of the import dock of the East India docks, Blackwell, fell, yesterday, carrying with it all the hydraulic cranes and quay sheds. The damage is estiamated st liooyooo*

•I.,

--^4%

v,i

THE BANK BILL REINTRODUCED. In the House of Commons last night the government reintroduced the bill to enable banks to limit the liability of shareholders to one-half the amount of their paid up capital, which was talked even. out last week. The bill as reintroduced applies to Scotland and Ireland as well as England. The objections of the Scotch members are thus appeased, and the bill was read the second time. The govern* ment expected to prorogue Parliament the 16th of August.

STRIKERS YIELDED

The masons on a strike at Bristol have yielded. JULES FERRYRS BILL. IFFI" 5

.•*

1 |t

..i

I

1 1

1

Constantinople, July 30.—Prince Alexander, of Bulgaria, has telegraphed the Porte the Turkish troops have* violated Bulgarian territory near Dubritza, and Bashi Basouks are pillaging and assassinating. The prince demands their immediate recall.

mHi

.t

TO BE DEMOLISHED,

Versailles, July 29.—The Chamber of Deputies, by a vote of 219 to 166, adopted the proposal of M. Proust for the demolition of the ruins of the tuilleries. The site will be transformed into a. garden.