The true northerner., 1873-11-07
NEWS OF THE WEEK.
Tho Eaat.

have shut down, discharging 10, 900 men. The
payroll of this firm amounted to $500 0OC
monthly. Other extensive factories, of va
rious kinds, have suspended work, or have
reduced wages and time. The prospect looks
gloomy for the winter.
The third trial Of Edward S. Stokes for the
murder Of James Fisk, Jr., has been concluded
at New York, and resulted in verdict of
manslaughter in the third degree The prls-
oner was sentenced to four years hard labor
i'll the Pententary.
Three persons-a man and two women
were recently run over by train of cars at
Frankfort, n j., while attempting to cross the
track in wagon. They were horribly
mangled, and lived but short time.
The Beecher-B -Bowen-Tilton scandal is again
stinking in the nostrils of the Boooklynites.
Titon has been summoned to appear before a
committee of Plymouth church and tell what
he knows about the matter, but refuses on the
ground that he is not member OF that
church.
A number of New York firms have failed, in
Guiding Lloyd, Hamilton Co.; j. 7. w. II.
Daley, G. Mailman, Schmid Co.; and Hoyt,
Sprague & Co. The latter are the agents of
the Rhode Island Spragues, the extensive man
ufacturers and their suspension is one of the
gloomest features of the panic, 5000, 900 of
their acceptances being afloat in New York
alone. The failure is also announced of Nor
gan Young Altemus & Co., one OF the heav-
lest Philadelphia dry goods houses. The re-
ports from the Eastern manufacturing districts
do not tighten up the general situation. From
every quarter comes the news Of
reduction of time and wages and discharge of
operatives Thousands are now out of en-
ployment in Massachusetts, Pennsylvania and
New York The Cranston and Franklin Banks,
of Providence, in which the Spragucs are
largely interested, have suspended. The de-
posits, amounting in the aggregate to
S3 100000, were made chiefly by working
people, who will suffer great prva.
tion if they lose their savings. Twenty
thousand working girls in Newark, n j.,
have been thrown out of employment
by the stopping of manufactures. Thirty
seven mills in Fall River are now running on
half time. The Merrimac Woolen Mills, of
Lowell, will close up in few days. Over
$4,000 working women are reported idle in
Philadelphia. 1t is evident that this will be a
hard winter for the classes dependent on daily
earnings.
There has been another serious fall in
stocks in Wall street. Northwestern COM
mon touched 80, the lowest price it ever sold
for, being five cents lower than when Henry
Keep picked it up, seven years ago. Wander
bilt shares suffered an alarming decline, and
it is said the venerable cormorant was taxed
to his utmost resources to keep his head above
water. Western Union went down to 45s, New
York Central to S0I, Lake Shore to 5Sl, and
Union to Is.
A New York dispatch states that the great
dry goods house of II. b. Clatlin Co. is Sc
riously embarrassed.
The Chesapeake and Ohio railroad has de-
faulted on its interest
The reported failure of the great New York
dry goods house of II. b. Clafn & Co. was a
canard. The firm is perfectly solvent.
The committee of Providence bank repre-
sentatives appointed to examine the condition
of the affairs of the A. & W. Sprague Manu-
featuring Company report the assets of the
corporation to be $19, 495 247, and their iabili-
ties S11 ATS, ,443. They recommend that the
members of the firm mortgage all their prop
erty to three trustees who shall have entire con-
troll of it until their affairs are settled, their
obligations to run three years.
One of the Stokes jurors is in trouble, be
ing under arrest and Indictment for disregard
ing the obligations of juror.
,nnYtba anHinc,
there arrived at New York 68, 5SS emigrants
of whom "a, 3S1 were Germans.
Jay Cooke d Co. have again issued circulars
to their creditors requesting their assent to
the proposed agreement. One Of their
heaviest creditors says if the firm is
forced into bankruptcy they cannot pay over
25 cents on the dollar, but if allowed to settle
themselves they will pay every dollar, and
have nice sum left.
The gold coinage at the United States Mint
in October amounted to $11 ,010, 900 in double
eagles. The gold weighed SO tons.
The freight business Of the Eastern rail-
roads is suffering severely from the financial
Stokes has entered upon his four years
residence in Sing Sing Prison.
1t is believed that the Sprague Manufactur-
ing Company will be able to discharge their
obligations and continue business unnter-
ruptedly if their creditors are not too press
ing
Between 500, 900 and $500, 900 in silver of
various denominations will be coined at the
Mint this month.
Steps have been taken for the formation in
New York of bank devoted entirely to the
grain interests of the interior.
That bale Of cotton donated for the benefit
of the Memphis sufferers has been again sold
in New York for S2,S75, or more than Sc
pound.
The consumers of beer in New York having
for long time complained of the quality of
their favorite beverage, the brewers have re-
solved to raise the price from 50 to $40 per
barrel, as they claim that it is impossible to
make good beer at the former price.
The firm of H. B. Clahin & Co., OF New |
York, has made stat ement to its creditors, |
showing their assets of all kinds to amount to |
s22, sos, ,O00 and their indebtedness, both do
mestic and foreign, S15, ,5si 900, leaving sur
plus of 1924 900, not counting the personal
assets of the members OF the firm. Upon this