The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1867-07-04
SPECIAL Correspondence OF the IL aAlo.

Tho Revolt In Porto Ric0-Stocks m "a nan
Snares-A Glance at the Money M uhe''
management OF business Houses in uo"'
Great Raias and Floods-A Novel VI"
Fight.
| Havana, June 20. 1867.
learn from reliable source that there was no other
Foundation In the umored disorder at Porto Rico than
that new law having been decreed affecting the pro-
mo"ons IN tho army portion Of the troops In that
island had not only shown signs of insubordnson but
actually attempted some sort OF pronunciamiee Ac-
cordng to the new law promotion In the under ranks lie
In future 10 be at the option Of the commanding oncsr
thus leaving II entirely to their judgment Tor want Of
Judgment as the may bel Whereas from lime i'm
memorial, promotion in the Spanish army has invariably
depended upon The length Of the mons The
dlsanecton arose TN Of The throe regiments duty
In Porto Rico In which IL does appear any but
the inferior officers joined Said regmcns sailed out Of
the barracks with their arms and their Intentions wers
OF no doubtful charactor but tho movement soon
subdued, few OF the most vociferous in the affair
having been court martialed and shot, am told thai
similar movement occurred In Santiago de Cuba few
days ago but as have not succeeded In getting any clue
10 Il, am inclined 10 doubt the truth Of the report
There IL no doubt that some kind Of ioration in
the financial situation is at this moment discernole
we seq TINS al least in the inquiry which recently sprng
op for shares (Dosy bank stock. The rates of the
Banco Espaho shares got up to 80 per premium,
Corscrco ito which the famous RegIa Warehouses are
Joined which had got down 10 80 per cent discount
made Sudden jump 10 bat fow days, and cannot now
BIO found at IA per cent discount, II this had
not lent 80 much money 10 the Rega and Matanzas Rail-
way would be the best investment here scarcely
inferior TO- the GAIA dc Ahcrros Savings Bank because
the storos DO lucrative safe and lasting
source of profits shall not be surprised to the
shares OF th7 Banco do Concrete par in few days,
and perhaps at a premium, despite the surplus mensy
which limited number OF capitalists may have at COM
mand | do not, wlthal observe that the banks have
become much more liberal in the rates OF discount or
less scrupuous IN their selection OF paper. The
.fusion" of 50 many banks as exist here, inso
md Wei man mad Ia y1a
family suggested. I 1t would provo great
benefit In the arst place, there are none in this
that there exists Que solitary born merchant Those
that are at the bead OF banking establish meus have
mostly been Anything but merchaats, and were II not
for the powerful assistance Of their clerks they
would be at loss how to carry such institutions: and
mercai house. but are thrust IN by favor; while there
are hundreds that have ali the advantages Of thorough
obscurity This however is truly Cuban and prevails
In all branches OF occupation Lawyers usurers and
others direct banks and military men are invariably
chosen for railway managers With this simple example
you have the beau ia al OF he Cuban civil administration
Of the public interests.
Cuba las. about starting agricultural society.
The basis OF the project ~ does not remain in embryo
like many other good things often projected has
been agreed to by many OF our weai,hiest planters,
and 1t is hoped that tho society VIII be formed
before long, Tha. Cuba. essentially agricultural,
should have so long been deprived OF such an
institution scarcely credible There are more than
fifteen hundred sugar, and perhaps still one thousand
coffee plantations in the whole island besides over SIX
thousand tobacco plantations most Of which the old
rcutne aud practice Of the earliest planters arc still
cung to, despite the successful results obtained By the
modern Improvements adopted by lmled number OF
the most intelligent planters.
America is celebrated for all that is grand in nature
its rivers mountains caaracts sc. Cuba Is not less
so; but country in these henspberes can be COM
pared to It, in For the last five or six weeks IL
has been raining, with very little interruption and on
few occasions we have not The for whole day
have seen the piuviomeer sometimes at 32 NJ. ~.
and It may have been even higher Although ihcre are
very few rivers In Cuba there arc hundreds streams
running both 10 the north and south and these become
NJ limos complete floods aud they reech great heights
a. this season OF the year The trasi, then becomes
completely stopped, and as there are very few roads
that deserve tho name the inland mails arc often de-
Ia, ed for several days. Tho remainder Of the sugar
still on some OF the plantations cannot be carried 10 the
railway station or the seaboard enarcaderos I'LL the
roads become dry These semIfoods also cause great
injiry both 20 life and propertybrdges destroyed
and everything swept away large tracts Of cultivated
land becore completely Inundated, and the produce
that a. carried away by the IS DESTROYED by
tho continued wet Fortunately he tobacco crop has
been nearly all saved.
Besides tue house Of J. II Mora,es q Co, II is cad
tina. the nrm of sana Sotoongo Go. saso TO give MP
business the S0tn inst but have for dis
believing this rumor, least for tho present.
Yne merchants are again londly calling for postal
arrangement, between the United States and spain they
make allowances for any delay the part Of the
Spanish government bat they cannot possibly sompre-
bend shy the Uaited states docs not push through at
once.
Tue Spanish friga,e Corona continues in Csrthagena,
preventing the Rayo from ieavins The Fetaan ram
has not moved h nee, the previous arrangements
having been changed.
Carsan Randolph, OF tse American brig Prair's kpss
ored) with knic, who alter inictiny cash IN
his neck stabbed hn with nendiss fury until hio
extinct The murderer has been secured and brought
here for trial.
At the bull light to take place tomorrow and Sun
day, in Rcgla there will also be vld beast ''entor
tainnent" Mexican female the p, gra1me IN polite
language Seh1ra Hejscora'l Is 20 take tho
IarI Of a bull rghter The announcement, Of course,
quite novelty, and has called nth some witty say
ngs by the young wags that frequent such places,
winch would lose al their pith at home, were / 10
translate them for your readers.
would rather tell you something about the sugar
market, which closed yesterday with hrnness, but
without any visible araton Ia price, Tho transactions
for the last few days have been pretty large, and tue
have been regulated according to the greater or
Lesser demand for the different classlcations OF num-
bcrs, but tho average basis WIS So reals for No IL
Among tho freight engagements noticed The charter or
the American bark tosiarcilc for Boston, nj 81 Tx
per box; British schooner Trojan Nov York or Boston.
at 81 SIX. or 81 65, respectively Exchange 4 m
good demand United States currency, sixty days
sight, has been negou,ted at 27l 10 2s per cent dis
count and closed with Grmness Sterling vas sold at
liz. TO lla4 pr cent premium
IL A v L