Newspapers / The Charlotte Observer (Charlotte, … / Sept. 25, 1873, edition 1 / Page 2
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DAILY OBSERVER. JOHNSTONE JONES, Editor aEd Proprietoi . JH. A. PARK, Business Mauager. Thursday September 25, 1873. THE OLD CATHOLIC MOVEMENT. The Emperor William of Germany has recently recognized the status of Bishop Reinkens hs a Bishop of the Catholic Church. Renkensis the first Bishop chosen by the Old Catholics of Germany, and indeed of the world. What will be the result of this new movement no one can foretell. It may die out at an early day, or it may go on increasing in volume and jiower until together with the Fro testant hosts of the world, it suc ceeds in accomplishing the final overthrow of the Tope's Church. The Roman see is to-day, perhaps, less powerful than ever before. Its temporal power is gone. Its mate rial resources are dwindled to in significance, compared to the wealth which it could command in past yea rs. The church is in her dotage; "ti e evenwig twilight of her day" is upon her; her boasted vigor and vitality are gone; in every part of her aie signs of decay. Kings no longer stand in awe of her: and nations that for ages have lain dormant under her power are rising and casting off the chains which have bound them to her footstool. And all her impe rial splendor is fading; though but a few ye?rs ago she seemed in the very height of power and prosper ity. Tope This IX, like Nebuchadnez zar in the olden time, had "a king dom, and majesty, and glory, and honor." People and nations trem bled bofore him. "Whom he would he set up; and whom he would he put down" with heart lifted up and a "mind hardened in pride," lie. proclaimed himself infallible as God. lifting himself up against the Lord of Heaven. In this hour of triumph and vainglory, when it seemed that the Pope had become the lordliest monarch upon the globe, "Lord of Lords and King of Kings," the light ning of God's wrath fell upon him. The sceptre of his temporal power was violently wrested from his grasp. "He was," like the Eastern monarch, "deposed from his kingly throne and they took his glory from him." Popery to-day is sustained by the feeblest props; it is surely toppling to its fall; though its millions of priests and servants are working with all their might to sustain it. This they are doing with varied success. In Spain and France they are appa rently successful; in Switzerland and Prussia and Hungary, they seem to fail; in Italy and Austria the balance hangs more even. In the loss of temporal power, the church has b' en shorn of much of her strength; and 8he may yet,.likc Sampson ot old, "be made to grind at the mill." The recognition of Bishop Rein kens is an important step towards consolidation. It inaugurates a new and dangerous schism which may yet give the Roman Church a world of trouble. COTTON FACTORIES. We are glad to see that the diseussion of the subject of cotton factories w h i c h h a s been going on in our Charlotte pa pers, has at last resulted in good. To-night a mass meeting will be held for the purpose of talking over the whole matter, and considering generally the importance of giving more attention to the manufacturing interests of Charlotte and the sur rounding country. -This meeting will no doubt give practical shape and direction to the project of erecting a cotton factory here. Books will be opened at once to receive subscriptions to the capi tal stock of the "Mecklenburg Cot ton Manufacturing Company." We have men in Charlotte possess ed of all the energy, enterprise and capital necessary to make this com pany successful, and with proper man agement it is obliged to pay hand some dividends. Besides paying tnose who invest their time and money in the enterprise, it will be of great benefit to our community, and to this section of country. This factory, we hope, will be but the pioneer of others. It will take more than one factory to consume the cotton that is produced in this region of country. In this connection, the following nccouiit' of tke' present condition and prospects of the Columbus Cot ton Mills, taken 'from the Columbus, (Ga.) Sun will prove of interest and value: The Columbus manufactories, dur- ing the season of 1872-'3 took 7,428 bales of cotton, an excess of 59S over the previous year, and 2,301 more than the season before that. At 17c, a low price, this cotton cost $87.50 per bale, or a total of $640,950. This cotton, without our mills, would have brought this and nothing more. The shipper could have made but small commissions. The staple was pass ed through our manufactories, and its value er.hariccd threefold ad vanced from $040,050 to $1;940,S50. This gives to Columbus $1,299,900 above the price which she paid the planter, and she has all the advan tages of the hitter's trade. This tells a truth of which Columbus can be proud, and gives a clue to the path which leads to the financial inde pendence ofthe South. Other places may have built more houses since the war and constructed with State aid more railroads; but what one in the State can. show such a net gain from all sources as we can from one branch of industry alone? If there be a class of men whom Columbus should thank most warmly for what prosperity we enjoy, and to whom the greatest obligations should be felt, it is the public spirited, far-see ing citizens, who projected and build these grand industries. The matter of greatest pride, too, is that the cap ital invested came almost exclusive ly from our own section. The Fed eral soldiers destroyed four cotton factories for us in 1865, burned sixty thousand bales of cotton and ruined millions of other property; but every thing almost has been re-tored by Southern money and brains. Hard ly any outside help has been receiv ed. The strong probability, almost certainly, is that three or four mills will be built here before another year rolls around. The Eagle and Phoe nix Company have already contract ed for the flooring for mill No. 3. It is another pleasing fact that one of our mills is manufacturing large ly the finer grades of cotton and woolen goods. Here, too, is made the cotton blanket, which is turned out by no other establishment in the United States. Productions arc sold in all parts ofthe country, and are in great demand. The manufacto ries in Columbus now run 32)000 spindles and 900 looms. If the same progress is made in the future as in the last seven years have manifested, we will have in ten more falls over 70,000 spindles and 2,200 looms in operation. The power of our river is sufficient to run millions of spindles at very little cost . The present dam at lowest water will keep going 1S0,000. Lowell herself may yet be complimented by being called the "Columbus of the North," as it is now the pride of Columbus to have won the title ofthe "Lowell of the South." It is rumored in Paris that Count dc Chambord has intimated that when his right to sovereign rule over Fiance has been formally recognized and homage paid him, he will abdi cate the throne in favor of the Count de Paris. It is amusing: to see with what tenacity the old bourbons of France cling to the shadaws of roy alty, and how they toy with unreal sceptres and shadowy crowns! But it may be that the forces now at work may bring about a re-establishment of the crown. The French nation is too restless to remain long under one government. France, like the troubled waters of the sea, would lose itsjvitality were it at rest. The people of Commons, Georgia, possess a wonderful amount of en ergy. The place has already acquir ed the title of "The Lowell of the South," by reason of its manufactur ing enterprises. We stated a few days ago that a new factory was about to be built there; but it seems that the city is doing much better. The Sim of that place says : "While other cities are now crying out for a single factory, Columbus is preparing to lay the foundation for three new ones. If this doesnot show a spirit of enterprise, we would like to know what are the elements of progress in this age of wonders." The Maine editors, it seems, have kept an eye on "the main chance" in politics. Nelson Dingley, Jr., editor of the Lewiston Journal, has been elected Governor ofthe State; and two editors will be in the next Legislature J. E. Butler, of theBid 'deford Journal, in the Senate, and Stanley P. Pullen, of the Portland Press; in the House. 'All the persons who were sent to Albany Penitentiary from Ruther ford county, for Ku-kluxing, have been pardoned, except Owens. The Salisbury Watchman, Favette ville Eayle and Wilmington ' Star, has each just entered upon new vol umes. Continued prosperity to them all. Personal Intelligence. Jcau Jacques Crate, the French NttKpd ist, is dead,; ' ; J J i The Bishop of the Dfocese of Flonaa i? in Wilmington. The wife f Prince Bismarck, died in Berlin on Tuesday. President Grant has left Washington again. He will return to:day with his family. Alexander K. Shepherd'' lias entered upon his office as Governor of the District of Columbia. -.. Garibaldi has tendered his sword to Cas telar in the service of the Republic of Spain. Castelar replies that Spain needs no assistance. , Allen and McCool, the two great prize fighters, fought near St. Louis on Tuesday. About 2,000 persons were present from the city. Allen won the fight in nine rounds, in twenty minutes. f John Nichols, Esq., of Raleigh, Grand Muster of Masons of ?orth Carolina, left' for Philadelphia yesterday to participate in the ceremonies incident to the dedica tion ofthe Grand Masonic Temple of that city. NEWS OV THE DAY. The exact defalcation of Collector Har per of Illinois, is $106,748,19. A paper mill (Hollings') in Boston has been burned. Loss, $40,000. . The Bank of France has agreed to ad vance one hundred million francs tg the Spanish Government. A dispatch from Shreveport says "the destitution is becoming nearly as alarming as the pestilence.1' W B Shaw, an old and leading Wash ington correspondent, has purchased the National Iron Company's Works at Dan ville, Penn., for $768,000-. Capt. Egan, ofthe Second Cavalry, cap tured an Indian camp north of the Elmin- ie, Kansas, on Saturday, with cattle, guns and ammunition. The Indians tied. The yellow fever epidemic is increasing in Shreveport. Up to 5 o'clock on Tues day evening there had been twenty inter ments. Eight new colored cases arc re ported in one house. The weather is un fivoiable. A 1'atterson, N. J.'uispatch says that, in consequence ofthe financial crisis in New York and general depreciation of new rail road sccuiities, orders for locomotive! fi r three months ahead at Rogers' locomotive works have been cancelled. Five hundred lighty-live workmen were discharged on Tuesday, and it is feared nve, hundred more may be discharged. On Saturday last, Miller fe Franklir, Ranker of Lynchburg, Va., were swin dled out of $1,220 by a man calling him self C. A.Stanton 'and claiming to be a travelling correspondent of the New York 1 If mid. He forged a draft in the name ol J. B. Ficklin, of Charlottesville, to the or" der of Col. J. W.Cameron of the Baths, and obtained the money. He then disap peared and has not since been heard from. A dispatch, dated Independence, Mo., 23d inst., says : Yesterday Jas. J. Chiles met Deputy Marshal Jas. Peacock on the street nnd slapped him in the face. A fight ensued, during which a pistol fell from Chiles' pocket, which was picked .up by his son, 14 years of age, who shot Peacock in the back, inflicting a dangerous .wound Peacock then shot Chiles through the head killing him instantly. The son of Pea cock then shot voutig Chiles, wounding him fatally. The Panic in Petersburg and Rich mond Suspension of Banks, &c, &c Richmond. Sept. 23. The Mer chant's National Bank, Planters' and Mechanics' Bank, People's Bank and First National Bank, all ol Pe tersburg, suspended this morning ml. . IPntorclillrir though not suspended, decline pay ment. Rumors of heavy commer cial failures are rife in that city. The banks of Richmond all quiet. There is considerable excitement here over the news from Petersburg. New York, Sept. 23. The failure of Henry Clews & Co., left the street at the close of business, in a state of wild excitement, and the headway made in restoring confidence up to 1 o'clock to-day, has been lost. Many da'maging rumors are again current A report was circulated that Jay Cooke, McColluch fc Co., of London, are throwing out drafts drawn by J Cooke & Co., which have come to hand since theaiews of the suspen sion was received, but the rumor can be traced to no authentic source. Speculative stocks were unquotable at the close of business. Washington, Sept. 23. Finances are feverish. Comptroller Knox and all others are surprised at the Peters burg, Va., suspension. They hope that railroad complications of a lo cal character have ledjtor thelissester and that it will not spread. ? J' i, ; Richmond, Sept. 23. The feeling here this afternoon has been one of nervousness, " resulting principally from the news from Petersburg. There were no runs on m.iy of-the banks, in fact some of them claim to have done more business in -receiving deposits than usual. -Directors of the Dollar Savings Bank decided upon suspending to-morrow. The President states that the assets are more than enough to pay all depos itors, but being principally in co 1 lat eral s,t hey are not immediately avail able. . ' A meeting of the officers of the four National Banks, the State Bank of Virginia, and the Merchants' Bank ing and Insurance , Company, this evening, resolved to sustain each other. They expect to have suffi cient funds to-morrow to stand any run that may be made. Public corf fidence in the banks appears to be generally unabated, , ' ' i TELEGRAPHIC. ASOlRICfAN ZJtJ&gASSQCIA TIQ1& 4 BY THE SOUTHERN AND ATLANTIC LINE. BY TELEGRAPH TO THE OBSERVER. J Jragedy in Philadelphia A Man Shoots His Wife and then fihoots -Himself; 5 SUSPENSION OF A BANK IN BERLIN. THE PRODUCE MEN INACTIVE THE DR Y GOODS HOUSES SAFE. THE NEW YOKK TROUBLES- SUSPENSION OF HOWES & MACEY. FAILURE OF BANKS AND OTH EH BUSINESS HOUSES IN PETERSBURG. NEW YORK. New Youk, Sept. 24. -Affairs on Wall Street opened this . morning much the- tame as yesterday. The Stock Exchange . remained closed, and the gold room opened. At the Gold Exchange there was nothing like the excitement of a few pieced ing days. (This at 11 a.m.) It has been announced that Howes & Ma cey had suspended. This caused in creased excitement, and a general feeling ot intense anxiety was very perceptible. J ne excitement, no doubt, would have been greater, but for theleehng that the torce of cir cumstances, such, that a large house having the most depositors, are now most likely to suspend. Howes ifc Ma cey 'a suspension was caused by run on them, inev declined to make any statement at present. An important meeting of bank ofheers was held in the lorenooi when it was resolved to issue ten millions more of loan certilicatos. and to stand together in every mea sure, for strengthening their posi tion. A telegram to the President requesting that lie pay off the loar. due January 1, 1874, of which 20,- 000,000 are now outstanding. Thi members of commerce, also, resolved to gather up all the live twenties that could be obtained, for evchangt i ito greenbacks. The loss to be as sessed pro rata, among the banks. The trouble is now t'.iat the amount of confidence may stagnate trade. General complaint is madt that no business can be done, and thi.s state of aff iirs is apparently em barrassing to shippers of produc. Business in the different lines o prodtice appears to have been termi nated, and grown considerably lower Many of the prominent flour and grain men. who have supported ship peis by supplying them with produce in hopes that the market would soon open for exchange,-withdrew to-day from making further contracts. Tl e Produce Exchange has petitioned the Government to'elieve the block itt-tke market for foreign exchange, by buying a certain amount of bill, now offered. Ugly rumors are circulated to-day ofthe probable failure of Dry Goods houses, but inquiry of the leading firms failed to corroborate these re por's. Tdiey said business may bt called good; taking everything into consideration. A. T. Stewart fc Co., Clafiin, and other large firms appre hend nothing critical to the Dry Goods trade from the present crisis. The Loan committee of Bank pre sidents have decided to issue ten mil lions more certificates, and if neces sary will even issue more. The com mittee to-day issued $'2,500,000 in loan certificates, making the total $12,250, 000 thus far. Macey, of Howes t Macey, who suspended to-day, says his firm has an abundance of securities, but can not turn them into cash at present. Probably one or two out of town houses has been embarrassed, he thinks., by the suspension of houses. Western and Southern merchants now in town have been seriously af fected by the panic and scarcely know how to proceed. Importers, jobbers, and others are also feeling troubled. The Cus tom House has fallen off greatly, and merchants are wit hdrawing little or nothing from Government stores. The steamship lines also feel the panic severely, and in order to get a cargo for outgoing vessels, some lines lowered their rate on grain 13 J d to 12d. It is even feared that some ves'sels.will be forced to sail with only a ballust load, if the present stringency continues. A Herald special from San Domin go, dated Porto Plata, September C, says: The -Insurgent forces have been totally defeated, and Gen. Gar cia has rejoined Baiz m the field. Morte Christa has beefn regained by the Republican soldiers. A schoon er laden with ammunition for the Revolutionists, has been captured. Gen Luperton has fled toHaytL. PENNSYLVANIA. Philadelphia, Sept. 24. A ter rible tragedy occurred last night in 27th ward. Thos. B Parker shot his wife, the ball taking effect in her eye and glancing downward. He is then supposed to have shot himself, as the police on entering the house, found him ' lying on his bed dead, with a discharged pistol in .his hand, a ball h aving passed, through his eye into the brain. The wife is liv ing this morning, and there are some hopes of her recovery. The cause Ijas not yet been ascertainedv The couple were out drivingyesterday ''af ternoon and had appeared to live happily together. t Parker was a gen tleman of large weajtb and ws well known in Philadelphia. - ' " , WASHINGTON, WAfiHrvcrrojr: Sent. 24." The fol lowing dispatch wii3 received to-day at theuieacujuiirters pi ine army : ChMjoII!. Sept.240en. W. T. Shtfifandn : The main nortlon of the Yellowstone Expedition has ar rived at Fort Abraham Lincoln. P. H. Sheridan, Lt. Gen. Washington. Sent. 24. Financial matters continued ouiet throughout this-eitv -to-day, ma -the- banks were transacting business as usual. Some discussion was created in treasury circles, on the receipt of dispatches from INew York announcing the re newal of the excitement in Wall St., but no new- movement was mtinia- ed bv the Secretary. It is understood that the Govern ment will re-sell the bonds purchas ed during the past four days at the same rate paid therefor. VIRGINIA. .,Pktei?sburg, Sept. 24. The Bank .of. Petersburg suspended to-day. he house ot Mcllwaine& Co., Com mission Merchants, has also suspen ded. Paris. Sept. 24. It is reported here that a bank in Berlin has been com pelled to suspend to-day. The Independent South and West. Agriculture and mining are the agents for the creation of real prop erty, and but one thing is needed to make the localities of agriculture and mining the most independent, financially, of all the sections of the country that one thing is manufac tures. The grand trouble in the past with the South was, while her cot ton enriched largely the Northern manufactures and the capitalists, whose wealth was in ships, there was comparatively little profit in the pockets of the Southern planter; his share was small indeed. He paid out too mueh for food and clothing, while growing cotton, sugar, rice, to bacco, tar and turpentine. The food nxoducts he needed, instead of rais ing them on I is own soil, he impo:- t d Fiom other States, and, of course, j at high, cost comparatively. His c-oat, instead of being made of wool in an u act vu ed in Texas, where the wool was grown was fabricated in the North. Bread, meat, clothes, tools, and luxuries, all saddled with .i doen big profits, the Southern phinter paid for, in raw products on which he i a'e but one profit, and !,h:it a small one. Now, the South re beginning to learn that the way to grow rich themselves is to keep working up their raw products to that point of completion where eon-j sumption will step in and claim them, and that same South will in crease in financial strength faster than ever. To be sure, the first steps are cosily and difficult; but the be ginning made, the manufactures started, each decade will find new re sources opening up, and capital easier to obtain. The South have ilready learned that they can grow their wheat and pork, and beef and nutton, to an extent that will save them millions of dollars a year, and as they have iion and coal with tlie'r other minerals, the great staple, nails, they certainlv ought not to end North for to the amount of a pound; but we are aware that fur naces, rolling mills, etc., arc now to some extent at work there. Cotton mills are also found in sight of the cotton plantations. Thisiswell. And we hope that the huge expenses and lack of profit which ever attends new projects, will not discourage the oold and honest men wh'o have taken hold of the enterprise. What we have said touching Southern inter ests applies equally to the West. That section, strange as it may ap pear to-day, raises beef, whose hides are sent east to be tanned into leath er, to be made into shoes, which are sent back for western consumption. This is a most terrible blunder in the political economy of that sec tion. So it is in wool and other sta ples, which are transported to re mote points, handled, and stored, and insured, only to return to the same west again,, to be consumed, when home manufactures would not only render her independent of the east, but would save her tens of mil lions per year in solid wealth. Nat urally, the South and West,.abound ing, as they do, in all the resources o a progressive people, ought not to be at all dep( ndent upon the North and East. These sections can ra ise all the food they need, while at the same time -they :can produce all the staples which cover the entire necessities of life, and, therefore, the manufactur ing of those staples, iron, wool, flax, silk, cotton; leather, etc., etc., should naturally be there, and not at the East and North. It takes capital, we know ; but capital will always gp where the law of trade sends it. Re fuse to transport Southern and Wes tern products to the North and East, WILLIAM Wholesale NOTIONS, FANCY GOODS, MILLINERY AND WHITE GOODS, ATLANTA'S 2T. JU-tWe JDmpticate New York Billr sept 18 Im . ' ; and, as the case with the Western "Jeir spice, conee and tea trade, consumers will go for the arti cle they need to the points whero produced. So, regarding manufac tures, the world must have them If cotton were kept at home in the South, and native hides in the YCst sheeting would in time be a South' ern product, and shoes a Western" for the tide of purchase could be forced in those directions by mann facturing interests centering Vnere As with these staples named, so with others. JThc South and West are too rtc-h in resources to hold t.ie rela. tions they now sustain to the North and East. l? MARKETS. New Tokk, Sep. 24, Gold opcned at 112J; declined to lllf, closing at the lowest price of the day. 1 E x c h a n ge d e m o r a 1 i zc d . Flour closed weak; Southern clos ed steady but quiet, Balti more, Alexandria and Georgetown mixed to good superfine 5.50 to 6 extra and family 6.7o to 10.50. ' Wheat closed quiet, Corn quiet Provisions dull sind lower for pork remainder nominally unchanged. ' Cotton lower; mid. 18; low mid 174. COTTON. Galve&tor.-Cotton, unsettled; good ordinary 10J; sales Jo, receipts 208 ; stoek G-,100. New Orleans Moderate demand, mid. 18 to 18; sales 750: receipts J57 stock 12,830. MobileQuiet; mid. 18J; sales oO, receipts 81(3. stock 7,735. Memphis Dull; mid. 18; sales G28. Cincinnati Dud;' mid. 18; sales Si). Augusta Dull; mid. 15; sales 152. Savannah-Dull and easy; mid. 171; sales 72, receipts 53(), stock 5,667. Charleston Dull, mid. 1(U; sales 100; receipts 42G; stock 5t7(.. " Baltimore Dull; mid. 1SJ; sales 50 ; stock 1,254. Norfolk Dull ; low mid. 18; sales 40; receipts. 570 ; stock 8,034. Wilmington Closed quiet ; mid 171 : sales 57; receipts 136; stock 70. New Advertisements. J. S. PHILLSPS, Uerruaiu Tailor stud Clothier, Iks lenve to in form the putxh'e (bat ht is now rceci v i ng 1 1 is S-tock of FALL AND WINTER CLOTHING, Piece Gools, Furnishing Goods, Iluts. Cap?, ic. which for style and quality, are nn.-ur-pa5sed by anything of the kind ever offer ed in this market, and will sell them as cheap as the same cla of Goods tan he bought elsewhere. Call and examine them. sep 'Jfi-tf NOTICE Cottoni Shippers over C. C. X A. ICaiiro d. 11,1? Charlotte, Columbia it Augusta lia-ilruad is prepared to jiive unusual facilities to tiansj-ortation of cotton this season, having pcrlected arrangements with four (4) different routes, to Northern eifies, with ample car room, quick sched ules, close connections, ami jrurantced rates, as low as any other route solicit a liberal' share of the shipments from Greenville, Spartanburg and Charlotte. Try us ami see if perfect satisfaction is not given. Y. AV. PEGJ4AM, sep2G-lv Agent. Democrat and Home copy 2v Frefch Fish From Merc head City. HAYING made .arrangements with tho fishermen, I shall, have ires! fish ev ery morning, except Sunday and Monday, and can furnish parties in any quantities, at short notice. Orders left at mv-ftore will be promptly filled. 1?. N . SJNTIL T. S. Win. Gleason manages the Fish Department. sept 25 Horse and JfEnle at Auction. I WILL sell on Saturday, 27th Scpt.,1873, in front of mv Action Room, commen cing at 11 o'clock A. M., one line Harness Horse, and one Mule, unless privately dis posed of. Will also sell Bedsteads, Matrasses, Desks, Stoves, Sewing Machines, Lady's Saddle, Walnut Cribs, Tin, Glass and Croekery ware, tc., A'c. Unlimited articles received until hour of sale. TIIOS. II. GAITHER, sep 24 Auctioneer. Country Bacon and Flour. JUST received, a lot of choice Country Bacon and Flour, ftt J. L. BROTHERS & CO S. sept 24 CAUTEIW COMBINED Writing and Copvine Ink, at :TIDDY'S. RICH & GO., Dealers in GEORGIA.
The Charlotte Observer (Charlotte, N.C.)
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Sept. 25, 1873, edition 1
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