Beaufort Republican. [volume] (Beaufort, S.C.) 1871-1873, 1873-10-02
EDITORIAL CORRESPONDENCE.
The Financial situatiOn.-The Extra
SessiOn.-TaXes.-D in the Wa.
ter Case.-The Virtues Of Fish.-Rail.
road Accidents.

COLuMBlA, .. u, Dept' 20, loio'
The weather and other things have
been considerably varied here during the
past week some days have been all that
heart could desire others sloppy and
gloomy enough. The faces of the citi-
zcus have appeared to smile, or frown in
accordance with the change.
Just at present, the most absorbing
subject, is the study If finance. State
matters and politics are very generally
lost sight of, and business men especially,
are watching with intense interest, the
course and effect of the great financial
whirlwind that commenced last week in
that slough, Wall street, and has been
winding its way south, leaving wreck and
disaster in its track. One can hear all
kinds of reports upon the streets, land
they grow rapidly as they travel) calcu-
lated to have bad effect upon business,
and the utmost care has been exercised
by the leading bankers to allay all feel
ings of insecurity. Up to this time the
banks are as sound as ever, and there is
very little danger of the savings institu-
tions being troubled. Ifa run should be
made upon them they will avail them
selves of the legal notice allowed by their
charters. Cotton has taken small
tumble, having dropped from II to 154
cents, but it is being moved with but lit
tie difficulty. The unparalleled stringen-
cy of money all during the season, has
rendered it difficult task for the banks
to meet this demand, and at the same
time carry the large amount of our mer-
chants paper; and, for this, whatever
may happen, the bankers and brokers of
this city deserves much credit.
1t is now very generally understood.
that the legislature will convene in extra
session on the 2Sth of October; howev-
er, it is an uncertain matter, and cannot
be definitely judged Of at this time, as
the "hcads" are of the opinion no thirty
days notice of calling it together will be
required. There have been large num-
Der of the members in the city during
the week, all of whom have visited the
state house frequently, and then quietly
disappeared. This evening severa! sena-
tors arrived, as also, Lieut-Governor
Gleayes. 1t would not seem possible,
however, that the governor and his
friends would at this time make any
FLANK movement upon the small minority
not in favor of the extra session.
Already there has commenced to be a
hue and cry concer ing the next tax
levy, which it is officially stated will
be at the rate of twenty mills. How
much of this will go towards paying the
sum of 500. which will be due as inter.
est on these five bonds" the supreme
court had under consideration is not
stated. At any rate the prospects of the
payment OF interest arc not such as to
create any large amount Of confidence
here. for, this week twenty thousand dol
lars Of LorGS were sod by the c0mptrol.
Ier-gcneral at pablo vcnd1c, at II! cents
Oh the dollar. These bonds were depos-
tied in accordance with the law by the
Andes insurance company which is in
solvent; they consisted Of eighteen one
thousand do lar conversion bonds, and
four five hundred dollar bonds issued for
the redemption of the bills Of the bank of
the state.
For the close proximity of time of a
session of the legislature, affairs about
the state house are more quiet than one
would think they would be; some think
this is ominous and that storm is brew
ing. There is no small amount of COM
munication between some of the old
"ring-workers' and New York. 1t is
not very probable that Mr.. Kimpton will
be present OH the field of action this wiE-
ter. He will probably stay behind with
the alnbuanccs to take care Of the killed
and wounded, and look after the forage.
Mr.. Leslie, as | predicted in my last let
ter, has already arrived, and stopping
only day in the city. he Immediately
proceeded to Banwcll county,. There is
no longer any doubt that he desires to go
to the senate again. This, taken in con-
nection with the figuring about Nassau
street, New York, is very significant
finger board as to the financial road it is
desired the legislature shall travel.
Judge Carpenter has been heard from
again, and the long deferred decision in
the famous case of the city rcrsus the
Columbia water power company has been
filed. 1t is he'd that it gives the compa-
ny more than was asked for, in award
ing damages amounting to $4,000 and
interest, the city to pay the costs of the
suit. The case will go to the supreme
court.
The judge has been spending the most
of the summer months at the north, and
has visited, it is said, u number Of water
ing places, and made little speech at Il
clam. bake at Rocky Point, r. l., in re-