The daily Gate City. [volume] (Keokuk, Iowa) 1855-1916, 1855-11-07
Correspondence Of the Gate City.1


!
lars of sad disaster on the Pacific Rail-
road. A general sadness pervades the COM
munity at the loss of so many leading men
and noble hearts. Business seems paralyzed
for the moment, and almost the sole topic is
the accident. The Mayor has by proclama-
| ton requested general cessation from la
! Dor on Monday, as a token of respect Tor
those who are most deeply stricken, as we'll
as Of gratitude that so many escaped. The
greatest wonder is, that out of over FIVE hun
dred passengers SO many have escaped un-
hurt.
The business of st. Louis during the past
year indicates the growth of the country, and
some changes in the channels Of trade. The
diversion of trade towards Chicago is be-
! ginning to be distinctly seen and felt, es-
| pecially among the dealers In dry goods,
boots and shoes, and other light goods. In
the sale Of Southern staples and Western
manufactures, St. Louis will maintain her
! pre- eminence for all time, if she continue
her present liberal policy Of assisting to
open up the great channels of distribution.
Her leading men have but recently apprecia-
ted the Importance of keokuk as a great
distributing point for Iowa. A better knowl
edge Of our true position and great resources
is inclining them TO cultivate better ac-
qualntanee with us, and to aid US in the con-
struction of our railroads, which they have
the sagacity to see must greatly enure TO her
benefit. Messrs. Dewey and Hornish have
thus far been met in a most liberal spirit,
and have obtained three fourths of the sub
scripton Of fifty thousand dollars which they
asked to purchase the rolling stock for the
first division Of the keokuk, Mt. Pleasant
Muscatine Railroad. Their list embraces
the best names in St. Louis. This we con-
are carrying heavy burdens in their own
| roads, and should stimulate us to ''go and do
lkewise.n
The financial news from Europe received
by the Baltic is somewhat dishsartening-
The Bank Of England has raised the rate Of
interest TO per cent, and knowing enes are
looking for monetary crisis in France and
and England. Numerous heavy failures
have already taken place in consequence Of
the disturbed condition of money matters,
growing out Of the war, and its effect is be-
ginning to be felt on this side. Several Wall
Street operators have recently exploded, and
it is thought by some that the coming winter
will witness the failure of great many
banks and commission houses. to be followed
by general tumbling of prices and strin-
gencv III money matters. With such posi-
bllities, and even probabilities, before US, ir
behooyes the farmers Of Iowa TO look well
70 the character Of the bank paper which
may be rendered to them in exchange for
their products, and Of all classes to diseoun-
tenance and refuse every thing suspected AS
wildcat or shlnplaster issues The :" Free
Banks" whose notes are secured by public
stocks and other securities Of a similar
character, are undoubtedly the safest. But
should they suspend, the loss TO the bill hold
err can never be large, while with shinplas-
tiers and other unsecured notes the loss is Of
ten total. We would not unnecessarily sound
any alarm, but If the accounts from Europe
are at oil reliable, the monetary affairs of
England and France are drifting toward
dangerous embarrassments, and, in case Of
disasters there, the commercial svmpathi es
existing between this country and the old
world must involve us to greater or less
extent.
The lecture season is about TO open here,
and promises TO be ver,f successful. These
leetures afford ntellf ,ctual entertainments
for hundreds of young lmen who but for them
might be found IN niue h more exceptionable
places. What are your lecture committee
Nessrs. Lodge, Simpson. and Hornish, doing
to supply the young men of keokuk with
lectures the coming v inter?
Yours truly, kEOKUk.
NorE.-The Executive Committee Of the
Library Associat ION are making every effort
to secure the highest class Of lectures for
the season which cnn be procured. Mr..
Lodge will soon leave town with view
OF making such ARA ngements, and we ex-
pect soon to be able to Announce the result.
Il EDs. GATE CRY.
Five Points NJ ission, New York
There will be a Mass Meeting of the friends
OF the friendless, homeless outcast poor. in
the Westminster Presbyterian Church, this
evening at 6! o'clo ok, at which time Rev.