The New York herald., 1868-03-01

her rhe Time. Of this morsng comes ont atly in favor
Of the Auerlan lurret s, stem and cats upon the
Admiralty 10 pa ID scores OF sncn vessels. rhis 10
another feather IN tne cap OF American inventors.
BoucIcauil's play, "Ihs octoroon," was brought out
at the Princss' theatre Monday evening with great
success The deR,Ghaev Is changed now, and the
0coroon Is happily married OH new scene the tight
between McCiosky and the Indian in the brake,
the sensation OF tue pec Mr. Bouccault plays the
Indian with wonderful power 9r. J. ;. Clarke appears
Salem scudde but is completely outacted by viniug
as hcCiosky aud Mr.. Lesson as Pete drama BY
Robertson, called Piay," and founded upon at
Baden-Baden Will 90 produced ut the Prince Of Wales
The tavern keepers in London selling tea because
the groces Will sell wines and quora This retort
eous might be introduced with advantage In the United
states; for very singulary, the pubcans sell better
than the grocars and ut lower prices Indeed, the
grocsrs getting botly and heavily all around The
cooperative store system Ia coming into vogue and tho
grocers have already got into squabbe with wholesale
dealers on tho subject One half OF the groces prices
this worth trial IN New York;
:. Lot me string together few items In paragraph
ne1ksn w leave here Tor California soon The OK
cigar light dropped the night before The cabbies in
tend 70 hold another grand meetng TO protest against
men-many OF them named Waker-signed the loyal
address to the Queen which presented by Mr. Dgby
Seymour yesterday.
Financial Operations-The "WIndinx Upo
System and It's Fruits.
From the Londen Times (cty arIice), Feb 1al
further illustration has just been furn Ishsd Of the
way In which large commercial defaults may be passed
through all The requisite formal stages and thenceforh
put out OF sight without leaving single result the
shape OF public experience calculated to lessen the
chances OF occurrence Of such evils The mercantile
arm Of Gillespie, Churchill Co, which failed In April,
1885, few weeks before the commencement of the
financial panic, with liabilities for than half
million sterling, has just declared nrst dividend OF six
pence in the pound, add the expectation that fur
ther three pence will complete the winding up the
estate. The whole Of the losses incurred In
tour years trading, and some Information as to the
processes by which crodit to that could have
been saned, and the amount dissipased might have
furnished an instructive lesson, s4cn as In public
sense would have partly compensated for the
damage occasioned But nothing Of this kind
~ 10 be looked for and the will merely be . sup
plement to tnat of Fox. Halliday, Co.. who stopped In
November, 1854 with liabilities estimated At two mil
lions sterling after having figured among the most
tsnsve importers Of East Indian produce and who last
year paid nine in the pound first and, 1t Ia
believed 1nsl dividend At Its date this latter stop
page OF attributed to the policy OF
the Bank Of England, aud the refusal OF Legitimate
banking faciitias" No history Of the working
house has transpired aud far the absence
Of experience that head Ii concerned there Is
duentia' should not at any time repeat It's career
Possibly ccent system for nsuring full publicity in
all these Affairs would demonstrate to tho community
that tho CREDITORS including JOINT stock banks and dis
counters In general, wore quite greedy and reck.
less the Debtors and IL Is apparently by this
sumption that the anxiety usually observable on both
sides to keep everything quiet most easily be ac
counted for