Ashtabula weekly telegraph. [volume] (Ashtabula, Ohio) 1853-1873, 1873-10-18

been made a target for pistol practice by Ex- |
member of CoDgress-M. +. Conway. There
were several shots fred, but one taking effect,
and that innicting only flcsh wound
The Foldris investigation on Saturday last
Capt Buddington on the stand-b brought out
and confirmed the facts, heretofore stated, that
there was hostile feeling between HIM, Bud
dingion, and Capt Hall, and That the habits of
the former were not strictly temperate.
Mr.. Pomeroy alleges ignorance of any
trouble existing between them, and states that |
he has never injured Mr.. Conway in any man
ncr. The burden of the facts thus far seems
to indicate that Mr.. Conway is weak both in
mind aud body, aud was laboring under IN
attack Of insanity at the time of the affray.
The Emperor of Germany recently issued
an edici in his role OF King of Prussi n, which
is in teresiiug from the fact tthat in IL he an
nounces his title henceorth which we have
not room to copy, but which Is embraced in
about 25 lines Of minion type. This 6rmid
able array of titles is not all His Imperial H.
tie is of ahons equ, length, to gether occupy
ing space equal to Mt least half of one of
our inside columns.
THE Yellow Fever in Memphis continucs
| with but little il any abatement The fTosts
that have been talked about, if having reached
that region, were too slight to make much inn
preston. The prevalence OF the scourge has
had one good effect, and that Is the opening of
field for the exercise of humane and gener.
Gus freling in contributing TO those in need.
in wiping out al1 distinctions of sectional, po.
litical, religious or social character, and
strengthening the bonds of brotherhood among
those of the same federal household
AT the annual meeting nfihe Western Union
T elegraph Company, held IN New York City
on the l2Ih, n tull Board of Directors was
elected with William Orlon at the head OF
the list Tue new members of the Board, are
Joseph IIarkcr, W. X. ,Thsrpe, Cornelius
Vanderbilt. Frank Work, Chester W. Chaplin,
Cyrus w. Field, Daniel Jones, George ii.
Mumlord, George NJ. Pullman, w. H. Wander
bilt, w. II. Vermilye, and L. Worcester. The
other members were on the II Oard oflast year.
President OrOns report SLOWS the capital
stock to he $40. 073 ,410, of which $7,395 .235 is
held in the Company the debt, $6O3S, ,4l0
gross receipts for the year, S., ,333, ,01S.5l, and
net arnings s9,757 ,6026 of which sl,72a,- :
$50. So has been paid out In interest and pur-
chases, and balance carried to income account.
The G ompnny were operating. July 1, 1873,
65,757 miles of line. 154 AL miles of wire, and
5, TAO offices. During the year 14,4j6,S32
messages were dispatched. .,
FINANoIAL.-The Relief certificates, by the
Cleaning House, in the City of New York
| ha, Laa .d A, 6,s, Df
; If required. This looks as II the banks were Il
little doubtful Of coming to time, and asking
for more grace.
On account of the failure of Grnnell & Co.,
who had some $4,000 shares of the l.. s. &
NJ. s. stock held as collateral, IL seemed likely
by decision OF Judge Blatchtord of the Cour:
ol Bankruptcy, to be thrown upon the market
This weakened the stock, but the decision it is
thought is not likely To stand, as 1t is not well
sustained by precedent. The stock, however
between Saturday and Monday, dropped from
, GOT 10 86s
Erie was quoted on Monday at 4Gt on
Tuesday it icll to 4519, and Lake Shore to
63t.
The difficulty Of procuring money in any
considerable amount, drives the brokers 10
forced sales of stocks, which, OF course, is fa.
tai 10 tiynincss of rates. Gold, has, In view o
the stringency in currency, gone up, and gain
ed frmncss These things are not favorable
for steadness or hopeluness in the immediate
future.
At the close of the market on Tuesday
LIKE Shore wns down 10 80, aud TO 81 on
Wednesday.
Wall street, says a N. York dispatch, has seen
the blucst time etoday--14lh--it has ever known
50 far rs the Stock Exchange is concerned, ant
, prices have been allowed TO ali below the low
est points touched in any of the panics of tn,
past ten years. The decline was attributed Il
various sources. Some hold That the depression
was due TO the ORDER of Judge Baichiord yes
terday in relation TO the bankruptcy Of George
Bird, Grinnel & Co, and said that until the in
junction was removed no one an the street
could tell how soon the market might he flood
ell with stock and so long as It continues bro.
kers will 10 unable to borrow money.
THE PANIo's LEssoNs-The Econo,nist-
London-has an article on the lessons %
, our panic some points of which ARE wortl
reproducing. The main one is this, that tn,
currency In which the banks nre by law re
quired TO keep their reserves aud which Is tn,
legal tender, is a fixed quantity. II cannot b,
Increased by impor,atons from abroad, rs
gold coin can, so that ms the demands OF the
country for currency TO transact its business
increase, as they do year by year, moi only dc
y prices decline including that of gold, but ,h.
reserves oi the banks become harder To kreT
up. Consequently, long as the volume oi le
gal tenders remain the same, we are each fal
harder pressed for money ito move the crops ,
and the minute this pressure begins to make
itself felt ON the banks, they arc forced To di-
mlnlsh their accommodation instead of In
creaslng Il, In order TO keep up th,ir reserves
which they cannot replenish by drawing oI
other countries for gold. as the Bank Of Eng
land does, and which, II they could afford Il
keep gold as reserves, they are forbidden b,
: the usury laws To obtain the rising rate of In
j terest, as the Bank of England does II, on
j. the other hand. the reserves are allowed to tall
II very low, the seeds of u panic aro at one,
i sown. There are two ways out of the dilh
J. culty--one 10 keep Initiating the currency from