The Weather To-Day: SHOWERS.
The News and Observer.
VOL. XLVII. SO. 84.
MM ILL NO RTM CAROLINA DAILIES IN NEWB All CIRCULATE A.
PASSAGE OF THE
CURRENCY HILL
■ * 3
Every Republican in the House
Voted For It.
AND ELEVEN DEMOCRATS
THE RESULT FOLLOWED BY
REPU RLICAX 011 EE Ii S.
t i i 'i j
THE VOTE WAS 190 FOR, 150 AGAINST
Mr. John Walter Smith, Governor-Elect From
Maryland Was the Only Man Who
Failed to Go on Record Up
on the Bill.
Washington, Dec. 18. —The Currency
Bill, which was debated all last week,
was passed today by the House by a
vote of 190 to 150. It had the united
support of every Republican in the House
and of eleven Democrats, Messrs, (’lay
ton, Driggs, Fitzgerald, Levy, Rupperr,
Seudder. Underhill and Wilson, of New
York. Mr. McAllister, of Pennsylvania;
Denny, of Maryland, and Mr. Thayer,
of Massachusetts.
All the other Democrats voted against
the measure, or were paired against it
except Mr. John Smith, Governor-elect
from Maryland, Mr. Stallings, of Ala
bama, and General Wheeler, of Ala
bama. Mr. Stallings, of Alabama, has
not been present in the House this ses
sion owing to illness, and one of his
colleagues announced that if present he
would have voted in the negative. Gen
eral Wheeler is serving in the Philip
pines. Mr. Smith is, therefore, the only
member of the House who did not go
on record upon the bill today. When tin*
Speaker announced the result of the vote
the Republicans cheered lustily. That
was the only demonstration in connec
tion with the vote.
Mr Bartlett, (Gad. who sustained a
severe accident some time ago was also
present on crutches.
Neither a motion to recommit nor an
offer of a substitute was in order by the
■terms of the special rale under which
the House was operating.
Mr. Gaines, Tennessee, asked if it
was in older to recommit with instruc
tions to report back a free coinage bill.
“It is not,” replied the Speaker.
The hill was then read a third time
and placed upon its final passage.
“I demand the yeas and nays,” said
Mr. Cher street, (Ind.), in charge of the
hill.
Members rose on both sides on masse
to second the demand. "Evidently a
sufficient number,” said the Speaker.
"The clerk will call the roll.”
The roll call was followed with great
interest. There were no demonstrations
when the Democrats who broke away
from the majority of their party voted
in the affirmative. The clerk called the
names of the Democrats who declined to
respond, twice on each roll call. Every
Republican voted for the bill.
Messrs. Patchings. (Miss.), Campbell,
(Mont.). Broussard, (La.). Robertson.
(La.). Davey, (La.), were paired against
tlie bill.
After the vote the Speaker rather un
expectedly announced the committee se
lections and the reading of the lists was
followed with intense eagerness by the
members whose opportunities for dis
tinction depend so largely upon their
committee assignments. The only inci
dent in connection with the reading of
the lists was Mr. Bailey‘» interrogatory
of the Speaker as to whether General
Wheeler's name had been placed upon
the committee on Ways and Means.
Sjieaker Henderson responded in the
negative. A vacancy has been left, on
this committee for General Wheeler.
The announcement of the death of the
Jate Representative Bland, of Missouri,
which occurred last summer, was made
by Mr. DeArmond, (Mo.), and the House
out of respect to his memory adjourned
until tomorrow at 1:05 p. in.
EFFECTS OF ITS PASSAGE.
Address by the Silver Republican
leaders on the Bill.
Washington. Dec. 18. —After the pas
sage today by the House of the Finan
cial Bill, the Silver Republican leaders
in the city held a meeting and adopted
an address setting forth their views as
to its effect. The address recites the
record of the Republican party on the
financial question and criticises the
new currency hill in the following terms:
"Steps are now being taken to insun
that the gold standard shall he ‘pre
served.’ The present hill ‘preserves’ it
with a vengeance. The vast bonded
debt of the country now payable in ‘coin,’
that is either in gold or silver, is to be
made payable in gold alone. Nearly a
half billion of standard silver dollars,
heretofore not redeemable in anything,
not constituting a burden on either the
gold reserve or the credit of the gov
eminent, hut forming a large percentage
of our basic money, are hereafter to be
redeemable in gold, thus increasing tre
mendously the strain on that metal and
becoming an •endless chain’ with which
to pull gold from the Treanry and afford
ing an excuse for the final destruction
of the silver dollars as money, and
their forced sale as bullion, after the
manner Vs the Sherman procedure in
1872. The greenbacks, the best paper
money the world ever saw, the prod no*
of the patriotism and statesmanship of
the Republican party in the days of
Abraham lincoln, are to be virtually
destroyed by being changed into gold
certificates, to be locked up in the
Treasury and paid out only for gold.
'Hie tax on the circulation of the Na
tional banks is to be reduced and the
amount of the bank currency they may
issue on Government bonds deposited
is to be increased from !K) per cent
to par value of the bonds; this making
their business enormously more profit
able, opening the way to an imme
diate possible inflation of on ilk notes,
not legal tender, excellent for getting
into debt on, but unavailable for get
ting out of debt with, to the extent of
•$800,000,000; and placing the regula
tion of the volume of money, and lienee
the determination of prices and the bur
den of debts, absolutely m the .power
of the banks and the creditor class.”
The address appeals to Republican fci
rmtallists to oppose the present finan
cial tendencies of their party. It is
signed by Charles A. Towne. Chairman
committee; Henry M. Teller. R. F.
Pettigrew. Frank .7. Cannon. Edgar
Wilson. Charles S. Hartman. John Sha
froth and Fred T. Dubois.
TILLMAN AND BACON.
Their Besolutions Opposing Betention
of the Philippines.
Y\ ashington, Dec. 18.—What the Sen
ate may accomplish in the way of legis
lation for the Philippines during the pres
ent session is problematical, but that tin*
question will' be thoroughly discussed
is indicated by the number of resolutions
bearing upon it being introduced. In op
position to the retention by the United
States of the Philippine Islands two res
olutions were introduced today, one by
Mr. Tillman. (S. G.), and the other by
Mr. Bacon* (Ga.) While they differ in
phraseology their intent practically as
the same —to yield the islands to a Gov
ernment to bo established by the Fili
pinos themselves. Both -Senators have
notice of their intention to address the
Senate on their respective resolutions.
Mr. Tillman offered a resolution recit
ing some clauses of the Declaration of
Independence declaring that under the
Constitution the Federal Government has
no power to rule over colonial depen
dencies, but is restricted in its operations
to States as integral parts of the Union
and to Territories intended for future
States; and declaring, further, that the
expansion of our commerce, has not been
and cannot be dependent upon the adop
tion of a policy of imperialism, and main
taining further, "that we are opposed to
the of the Philippine Islands
by the United States and that it is our
purpose to consent to the independence of
the Filipinos as soon as a stable gov
ernment shall lie established by them;
and toward the prompt establishingnt of
such government we pledge our frienuiy
assistance.”
Mr. Morgan. (Ala.), called up his res
olution “to prohibit combinations between
corporations to control inter-State com
merce and transportation, ’ and address
ed the Senate upon it.
Mr. Morgan dealt, in beginning, with
the legal aspect of trusts, and the diffi
culty of reaching them through the en
actments of State legislatures or of Con
gress. He regarded the evils called
trusts as all included in the combinations
of persons to control trade. What tan in
dividual could accomplish in trade was
regarded as legitimate, but when great
corporations were aggregated together to
control any given branch of trade or
commerce or transportation, it became
evident that the rights of the people
were likely to be infringed. It had for
years been a serious problem 'before the
law-making power to control these com
binations, and upon the solution of that
problem would, in his opinion, depend
much for the people.
Mr. Morgan declared that all the ad
vantages which had been gained by the
trusts had been obtained at the expense
of the people and particularly of labor
and “I desire to know,” he said, "wheth
er this Congress will respond to the al
most despairing demand of the people
for relief.”
Mr. Morgan referred to the control ob
tained by certain trusts of the coal and
iron lands of his own State of Alaba
ma ami of Tennessee. These lands had.
lie said, passed into the maws of the
trusts, but had not passed from under
the control of the States. He declared
that the Legislatures of those States
would never consent to the holding of
those lands by trusts and intimated that
measures would be taken by the repre
sentatives of the people to protect their
interests.
The -Senate went into executiv esession
at 2:20 p. ill., and at 3:05 p. in. adjourned
out of respect to the memory of the late
Representative Green, of Nebraska.
SEN BACON’S BESOLUTION.
Disclaiming Any Intention of Holding
the Philippines. *
Washington, Dec. IS.- Senator Bacon,
of Georgia, introduced a joint resolu
tion today declaring:
First. —That the United States had not
waged the Spanish War for acquisition
of territory.
Second.—That in receiving the cassion
of the Philippine Islands it is not the
purpose of the United States to main
tain permanent dominion over them or
to incorporate the Inhabitants as citi
zens o? the United States or to liohl
such inhabitants as vassals; and the
United States hereby disclaim any dis
position or intention to exercise perm
anent sovereignty, jurisdiction or con
trol over said islands.
Third. —That the United States having
overthrown opposition to the authority
of the United States in the Philippines
the duty and obligation rest upon the
United States to restore peace and
maintain order throughout the islands
and to continue the maintenance of or
der until a stable government of the
people shall have been established.
Fourth.—lt is the purpose of the Uni
ted States, so soon as order shall have
(Continued on Second Page.)
RALEIGII, NORTH CAROLINA, TUESDAY MORNING, DECEMBER 1!). 189«.
BULLER SET ASIDE
FOR LORD ROBERTS
Who Supersedes Him as Com
mander-in-Chief.
A BRILLIANT . SOLDIER
GEN. KITCHENER WILL BE 111 S
CHIEF OF STAFF.
BULLER MAY STILL COMMAND IN NATAL
As a Result of the British Reverses the Whole of
Cape Colony is Said to be in Revolt
Pro-Boer Meeting in
Dublin.
London, Dec. 18. —Field Marshal
Lord Frederick Sleigh Roberts has been
appointed commander-in-chief of the
British forces in South Africa. General
Lord Horatio Herbert Kitchener will
he his chief of staff.
Roberts thus in effect supersedes Gen
eral Sir Kedvers Buller, who had pre
viously been appointed cnnimander-iu
ehief. It is said that Buller will continue
to direct operations in Natal.
Roberts is said to be the most popular
and brilliant soldier in England. He is
at present commander-in-chief of the
forces in Ireland. His son. Hon. F. li.
S. Roberts, was a lieutenant in Boiler's
army, and was mortally wounded in last
Friday's battle at Colenso.
Steps have been taken to send still
more reinforcements to South Africa.
When the additional troops arrive, Lord
Roberts will have an army of 145,000
men.
The British losses in the battle of
Colenso were 1.007. divided as follows:
Killed, 82; wounded, (1(57; missing, 348.
This is the heaviest loss sustained in
any single battle of the war. The Boei
loss lias not been nifide public.
A revised list of the British losses
at the battle of Magersfonteinjin which
General Lord Paul Methuen was repuls
ed on Monday of last week, puts the
total at 0 53. The total previously re
ported was 832.
The latest figures, based on revised
lists fronv Iximhm, bring the known Brit
ish losses in the war up to 7,(530. in
cluding killed, wounded and missing.
If General Methuen can hold his posi
tion at the Modder river a few days lon
ger he will probably be reinforced by
at least 6,000 men.
General Gatacre has again establish
ed his headquarters at Sterkstroom, 25
miles in a straight, line and 40 miles
by rail south of Stormlierg, Cm* scene
of his recent defeat.
A dispatch from Sterkstroom states
that as a result of the British reverses
the whole of Northern Cape Colony is
in revolt.
An attempt to hold a pro-Boer mass
meeting in Dublin yesterday was
checked by the police, hut it led to ex
citing scenes. Crowds paraded tiie
streets singing “God Save Ireland” and
cheering for the Boers. A meeting of
Irish leaders was held in the rooms of
the Irish Transvaal committee, and
speeches were made denouncing Eng
land
TROOPS FROM INDIA.
London, Dec. 11).—(Tuesday 4:30 a. m.)
—The War Office has been in commun'i
eatiou with *SSr William Lock ha it. coin
mander-in-chicf in, India, with at view
of ascertaining what troops can be spar
ed from his force**, and it is understood,
that as a result of those inquiries a force
will almost immediately leave Bombay
for Durban, including four regiments of
seasoned troops, with an ammunition col
umn, and a brigade of artillery, including
horse and field batteries. It is Sloped
that this force will reinforce General
Buller within a month.
The Duke of Connaught visited the
War Office yesterday. Since the np
jMiintment of Lord Roberts as Comman
dor-in-Chief in South Africa the question
of rank no longer bars the Duke from
going to the front, and as he has a
strong desire to go, it is believed tfluvt
only the Queen's reluctance stands in the
way. It is not .unlikely that this will be
overcome.
Lord Cheshani, commanding officer of
the Royal Buchinghanishire Yeomanry,
lias been Authorized to organize a fore*?
of 3,000 yeotuanry, who will proceed to
the Gape. The yeomanry forces sent out
will be drafted so as to work together
wit'll the mounted infantry and mounted
militia from (Awimda and Australia.
It is understood that the volunteers
selected will not form a separate corps,
but will join their linked battalions of
(lie regular forces in South Africa.
Throughout, the country volunteers arc
responding with utmost alacrity to the
official notice. Isuxl Lonsdale says ».c
believes the Government will only accept
from twenty to fifty men from each yeo
manry regiment. It is asserted that
many officers of the volnteer regiments
are offering to go as trmi]M*rs if not ac
cepted as officers.
The Times says editorially:
“Lord Rolw rts will 'have absolutely a
free hand and may In* expected to r<-
wrnic the original 'plan of campaign
abandoned by General Muller under the
necessity of relieving Ladysmith.”
According to a dispatch from Cape
Town General Sir Charles Warren and
his staff have started for lie Aar. This
seems to indicate that tin* Fifth division
will la* sent to reinforce laird Methuen
a decision which will meet with general
approval ns the opinion is almost every
where held that it would be useless to
waste any more time by frittering away
men between tin* various columns.
•I. B. Robinson, tin* South African
millionaire, writes to tin* Daily Chroni
cle reasserting that, the Boers have un
limited suimplies of ammunition and am
ide store* of food and declaring that all
statements to the contrary should be te
noned.
1 1 (48F.1 IT 8 S A ll ,S SATUR DA Y.
Loudon. Dee, 18. —General Lord
Roberts and his staff will sail for South
Africa on tie* Dunottar Castle, Saturday.
AN HONOR FOR CHAMBERLAIN.
Dublin, Dec. 18.-At Trinity College
this afternoon the honorary degree of
Doctor of Laws was conferred on Joseph
Chamberlain, British Secretary of State
for the Colonies. There was a brilliant
assemblage at the ceremony. The Un
der Graduates gathered on the college
grounds and sang patriotic songs. Then
they sallied to College Green, cheering
vociferously and carrying the Royal
Standard and. the Union Jack.
The students made a demonstration at
the mansion house, where they ton* the
gm*n eotrjioration (lag to shreds and
caused other damage, the police being
forced to intervene.
The students returned to the college in
an ugly mood.
FRENCH FALLS BACK.
London, Dec. 19.—(Tuesday.)—A dis
patch to the Daily Mail from Naauwoort,
Capo Colony, dated December 16th, says:
“The Boers brought a big gun to liear
on tin* British near Vaar Kop. The Brit
ish piece* were too small to reach the en
emy; and, after an intermittent artillery
duel. General French withdrew under
shell fire, but without losses, to Arun
del.”
GAT ACRE'S I* R OCL AM A TIO N.
Sterkstroom, Capo Colony. Thursday,
December 14th.—General Gatacre has
issued a jiroclHimitmn forbidding all jut
si >ns living on farms to move about the
district or re* visit Sterkstroom, except on
Saturdays, and then only with, passes,
under pain of summary arrest. It is
understood that, the proclamation l.s di
rected partly to the prevention of the
conveyance of news regarding British
movements.
DUTCH 'MAKE IT UN FLEA SANT.
London, Dec*. 19.—4 Tuesday)—The
Daily Mail publishes the following dis
patch (from Antwerp:
"The British and American Ministers
at The Hague have asked permission to
retire to Antwerp with a view of avoid
ing personal unpleasant.uss during the
anti-English attitude of the Dutch.
"There is no foundation for the reports
mi the Continent, that the diplomatic re
lations between Great Britain and the
Netherlands are strained.”
ENGLAND MUST BORROW SOON.
Ixwndoni, Dec. 19. —(Tuesday.)—The
Daily Chronicle’s financial article, which
is written by A. J. Wilson, a leading
authority, says:
"The expenditure for the war con
siderably exceeds 2,000,000 pounds ster
ling per week, and as the Treasury
cannot hope to sell its bills on the mar
ket under five per cent, it is evident
that; the Government insist soon come
upon the market for money.”
GATACRE'IS GUIDES SHOT.
London, Dec. 19.—(Tuesday.)—A dis
patch to the Daily Mail from Fo rt* Camp
says that flu* bodies of two of the guides
who misled General Gatacre at Stonn
iterg were found on the battlefield. The
men had been shot.
BULLER CROSSES THE TUGELA.
So Says the Daily Mail. Methuen’s
Communications Cut.
London, Dee. 19. —(Tuesday.)—The
Daily Mail hears from a hitherto reliable
correspond) nt that General Buller, after
a stiff fight, crossed the Tugela River.
The correspondent also states that Gen
eral Methuen's communications are cut.
KITCHENER WILL LEAVE SOON
Cairo, Dec. 18.- General laird Kitch
ener, who has been appointed Chief of
the Staff of General Lord Roberts, of
Kandahar, the new commander-in-chief
of the British forces in Smith Africa,
leaves Omdurman Tuesday and will ar
rive here Friday. He will start im
(’ape Town as soon as possible.
EVAN E. SETTLE’S SUCCESSOR.
June W. Gayle Elected Congressman
Over W. C. Owens.
Frankfort, Ky.. Dec. 18. —At ;1 e spe
cial election in the seventh Kentucky
Congressional District today, to elect a
successor to the late Congressman
Evan E. Settle, June W. Gayle, Demo
crat, of Owen county, was elected over
ex-(Congressman W. C. Owens, who ran
as the Fusion candidate of the anti-
Goebel .Democrats and Republicans.
About two-thirds of the vote was polled.
At Gayle's headquarters his majority is
placed at 3,000.
Confirmed by the Senate.
Washington, Dec. 18. —The Senate to
day confirmed these nominations-'"
George Gray, of Delaware, to be Uni
ted States Circuit Judge for the Third
Judicial Circuit. \
I>. S. Kidder, of Florida, Consul at
Algiers, Africa.
I [ $40,000,000 For National Banks.
Washington, Dec. 18.—The Secretary
of the Treasury has decided to increase
tin* deposit of cash in the national bank
depositories to the sum of 30,000,000 and
possibly 40,€00,000 dollars, on the banks’
depositing with the Government United
States bonds as security.
Ex-President Grover Cleveland w:n is
confined to his house at Princeton, N.
.1., with a slight attack of rheumatism,
is rapidly recovering.
A BAD, BLACK DAY
ON THE EXCHANGE
Values Come Crashing Down
on All Sides.
BEGIN ING OF A PANIC
CLEARING HOUSE BANKS CAME
TO THE RESCUE.
OFFER $10,000,000 ON EXCHANGE FLOOR
Failure of a Newly Organized Trust Company
and of a Firm of Bankers and Brokers,
Together With Wild Rumors, Re
sponsible for Conditions.
New York, Dec. 18.—Panic conditions
developed on the Stock Exchange this
afternoon with the imperative need of
money developed by the violent contrac
tion in values. Stocks were being
thrown over without the slightest regard
to tiie price they would bring and dis
tressing sacrifices of values. No end to
tiie helplessness of the situation seemed
in sight, when, in the last half hour of
the market some $10,000,000 was offer
ed on the Stock Exchange by the con
certed action of the clearing house
hanks to force the rate arbitrarily down
to six j**r cent, without regard to the dis
tracted bidding at higher rates, which
uiis being done by other brokers for dis
tressed operators. The collapse in the
money rate checked the decline and
drove the hears to (ever. The recoveries
produced by their urgent bidding were al
most as violent as the declines had been,
but the losses were by no means entirely
retrieved. Large offerings of stocks
continued at he rally, and at some points
list prices broke anew before the
close, making the closing exceedingly ir
regular and unsettled. The excitement
continued to he end, with sentiment look
ing forward for the de.velopmemt of an
other day. The seriousness of the crisis
has called forth the best efforts of jxxver
fnl and conservative financial interests,
who are busy concerting measures to
tide over the money difficulties which
beset the stock market, ami which, by
reason of their extent and the import
ance of *the interests involved, threaten
to affect the country’s business inter
ests, unless obstacles are opposed.
Bo far as actual news was concerned
today, there was a suspension by a newly
organized trust company and by a firm
of bankers and brokers who have figured
as traders in stacks to an extent of some
importance. Neither event in itself
would have been sufficient o precipitate
a crisis. But they were supplemented
with a whole crop of wild and incoher
ent rumors which sjsaerd no interest,
however powerful, long established and
hitherto free from suspicion it may have
been. One would think from the tone
of some of the gossip that was flying
about by telephone, telegraph and by
messenger boy or by whispers and even
by shoutings in the lobbies of the Stock
Exchange, that the whole financial fabric
had been undermined and was about to
tumble in ruins. Yet the day closed
w i h two failures above m atoned as the
sum total of disaster, so far ns admitted
insolvency was concerned. The reason
for the widespread effect upon sentiment
at’ the trust company’s suspension was
that it was one of a large number of in
sti/tntions reeeiij ly formed ion similar
lines and which have thriven upon the
multiplying of securities incident to the
industrial combinatons which have been
a feature of the past year.
The securities of these combinations
as a class have been in disfavor in Wall
street for many weeks past and in fact
ever since the headlong inflation in thier
prices and subsequent collapse last spring.
Some of the least fortunate of the new
combinations have lieen affiliated with
the trust company which closed its doors
today. Tin* incident caused a feeling oi
distrust with regard to the whole class of
of industrial securities, as is sufficiently
evident from the wide breaches made in
tin* values of this das* of securities in
the days’ trading.
The special committee ippoiui >d to
examine the affairs of the company
organized by electing Edwin Gold chair
man. The committee wis ,*i cession all
the afternoon and toward tin* early part
of the evening. The result of tin* com
mittee's deliberations is given in the ap
pended statement:
"The special committee consisting of
Messrs. Gould, Bidwell. Maher. Brain
erd and Armstrong, appointed by the
Board of Directors of the Produce Ex
change Trust Company to look after its
assets and affairs, have examined the
condition of the bank as fully as the lim
ited time at its disposal has permitted.
The committee is well assured, as a re
sult of such examination that every de
positor will be paid in full, and that a
large surplus will remain for the stock
holders. The difficulties of the company
are the result of the locking up of an
undue proportion of its funds in loans
not immediately realized, and it Is
believed it will eventually realize a very
large percentage of the amount loaned.
The committee is endeavoring to effect
arrangements for the early payment ot
the depositors and also expects to issue
a fuller statement at a later date.”
Superintendent Kilhurn, of the State
Banking Department says tint he
warned President Beall, of the condition
of the bank, but that the facts were
not communicated to the directors.
WON'T AFFECT THE SEABOARD.
Baltimore, Md., Dec. 18.—J. William
PRICE FIVE CENTS
=====,, =
Middemlorf. of the v Mid den dor f,
Oliver atwl Company I. Irvine Ivey
ser of this city are »rs in tin* Pro
duce Exchange Tr *0 mipany of New
York as is also J. ton Williams, of
Richmond, Va., who is president of the
I Seaiioard Air Line Railway Company.
Mr. Middendorf speaking of the fa.il-
I ure said:
, "Os course the news of the failure* is
I most unwelcome, but it will not Ik* so
far reaching as some people suppose.
The affairs of the concern were recently
investigated by an expert and found to
be in good condition, hence 1 believe
Ihe suspension has lieen brought about
by the Unsatisfactory state of the money
market. The company was interested as
a subscriber to the syndicate formed for
the purpose of financing the proposed
re-organization, of the Seaboard Air Line,
but its suspension will in no way impede
the progress of that reorganization which
but is now practically an accomplished
fact.”
UNABLE TO REALIZE.
The Produce Exhange Trust Company
Closes Its Doors.
New York. Dec. 18.—The Produce Ex
change Trust Company of this city closed
its doors today. A notice upon phe door
says that the company susjieiidiid pay
ment pending a readjustment of its af
fair*.
A statement of the company's condi
tion at the close of business Saturday last
shows asset * $11,719,500; including syn
dicate loans of $4,423,500; demand loan*
$685,000; cash on hand $118,000; cash in
Western National Bank $533,000; cash
in National City Bank $100,000; cash in
First National Bank. Jersey City SIOO,-
000; cash in Standard* Bank $269,000.
The Produce Exchange Trust Compa
ny was organized a couple of years ago
with a capital of $2,500,(00, and had a
nqiorted surplus ami undivided profits at
this time of over $2,000,000. Its busi
ness was chiefly with merchants, trades
j men and corporations in .its immediate
vicinity, and it was also supposed to do
some of the banking business of the
Standard Oil Company. It had ln*en de
signated by the Banking Depart.mint of
I the State as a legal depository for State
I moneys and municipal moneys, as well a*
for the fund# of savings banks and State
banks. The of fleers’ of the company
are:
President. Turner A. Beall; Vice
presidents, Edwin Gould. Thomas A.
; Mclntyre and S. D. Scudder; Seeretary
roii Treasurer. B. L Chamberlain, As
sistant Secretary-Treasurer, Wm. Law*.
I 'the officers of the company declined
! to see anybody or give anything for pub
iictakm beyond this supplementary state
ment that was posted on the doors some
time after 11 o'clock.
"The immediate cause of the suspen
sion of the company ifc its inability to
convert its securities into cash in time
to meet the sudden and abnormal de
mand made upon it.”
A BATCH OF FAILURES.
Suspension of Henry Allen. Joseph
Squire and the Vogeler Co.
New York, Dec. 18.—The suspeosi ,>f
the firm of Henry Allen A Company,
bankers and brokers, was announced to
day on the Stock Exchange.
The suspension is attributed to The
failure of some of its customers to re
spond to calls for additional margin*
made necessary by recent declines. Tie*
house has lieen known as a trader on
rather an extensive scale.
JOSEPH SQUIRE ASSIGNS.
Boston, Dec. 18.—Joseph Squire «V
Company, of 39 North 'Street, assigned
today to G. W. Fiske & Company, pro
duce and com mission merchants. Mr.
Fiske said that no statement of the
firm's 'condition could be made at ♦his
time, but that its liabilities were very
small. The assignment was made as a
1 iruf ecti ve mea sit re.
VOGLER CO. ASSIGNS.
Baltim ire, Md.. Dee. 18. —The Charles
A. Vogeler Company, druggist*, consist
ing of Christian Devries and his wife,
formerly Miss Minnie A. Vogeler, have
made a general assignment for the bene
fit of heir creditors. Henry S. Dulaney,
who has been for many years the general
manager of the company, is the assignee.
No statement of assets and liabilities
has .been made.
Bishop Turner Paralyzed.
Savannah, Ga., Dec. 18. —At 12 o’clock
last night Bishop H. M. Turn i*r, while
in council with Iris presiding elders, was
prostrated by a slight stroke of paralysis.
Today at 4 o'clock iai consultation of
physicians was held and it; was given
out that no immediate danger was ap
prehended. The stroke was caused by
overwork.
The Georgia African M. E. Confer
ence lias been in session here since last
Wednesday, and yesterday the Bishop
preached the morning sermon and ordain
ed a large class of deacons. In the after
noon In* conducted the litany and ordain
ed the elders. His general health had
never been better, ami liis sudden pros
tration created a great sensation. Bish
op* Grant and Salter arrived here to
night and will finish the business of tin*
conference tomorrow.
Negro Acquitted of Murder.
Macon, Ga., Dec. 18. —John Stevtiis.
colored, was acquitted today on ih<*
charge of assault with intent to murder
James Carr, white. Carr, with .Sanies
Kershaw, also white, went into a bar
room in which Stevens worked and
threatened him. Stevens killed Ker
shaw and badly wounded Carr. He was
tried, oeniveted of murder, bn* the
third time by direction of the SnpK me
court he was acquitted. He was then
put on trial for shooting Carr.
It’s a short street that his ut turn
for the organ-grinder.