New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1873-09-14
IcoNrINUED FROM FIRST PAcE.{s

lcoNTNUED FROM FIRST PAGE.Y
gotiations OF bonds in London. Last Mon
6av advices were received from London,
stating it was impossible at the present to
negotiate the bonds, and a consultation was
held of the parties in the interest Of the
Canada and Southern road
Some were willing to contribute their
quota, while others were absent from the
city. consequently no unity of action could
ne had, and Kenyon, Cox g. Co. finally re
solved to suspend. The parties connected
with the Canada and Southern railway are
among some of the richest and most infiu-
entail railroad men of the country, who are
q guarantee against permanent embarass-
m"nt.
TIE general impression is that this affair
will only be temporary. Ia regard to the
Immediate effect in Wall street many sup
posed the suspension of the firm would
cause large amounts Of stocks to be preci-
pitated on the market, and acting on this
theory there was rush to sell.
Great Surprise nj the Failure.
Considerable surprise was occasioned in
the Stock Board this morning by the ar
lnouncement OF the suspension OF Kenyon
Cox g. Co., one of the oldest and most re-
spectacle firms on the street. They give
as an explanation their large Endorsements
of railroad paper, which they are unable
to meet They were the promoters of and
heavily interested in the Canada Southern
road. 1t was believed at first the failure
was due to heavy dealings in Wabash on
Daniel Drew's account, and that stock
dropped four per cent Just before the an
noun cement was formally made.
1t has been since ascertained, however,
that the Wabash pool was not in their
office. The firm consists of Kenyon Cox, a
brother of Governor Cox, of Ohio, Horace
Manuel, w. H. Hutchinson, and Daniel
Drew, special partner. For a year past the
firm has been known on the street az Dan
'iel Drew's house. The amount of the liza,
bilities is not yet stated. 1t is believed that
there are sufficient assets to fully cover
them.
The whole market declined from one to
four per cent before the announcement, the
fai ure being known only to a few Tie
market has since, however, steadily i'm
p owed.
The excitement over the suspension of
Kenyon Cox & Co. has abated. Mr..
Kenyon went to the Stock Exchange and
sion is only temporary. Daniel Drew, who
is in Europe, has been telegraphed for.
M0rtuary.
There were 578 deaths during the past
week, decrease of 81 from the week pre-
tvious.
Counterfeits.
Counterfeits of the last issue Of fifty cent
stamps are in circulation. The counterfeit
is said to be so skillfuly executed as to
almost defy detection by experts.
CANADA Southern Railway.
Kenyon Cox e. Co. said this afternoon
that the Canada Southern railway owes
81, $50 900, and has 81, $50, 900 of frs. mort
gage bonds of it's own and connecting roads.
As late as Monday favorable reports were
received by cable in regard to placing the
bonds abroad.
Spot Cotton.
The market for spot cotton has con-
tinued quiet and active throughout the en-
tire week, and prices have ruled very
steady with the advance. For forward de-
livery there was only moderate business,
and the tendency Of the rates has been
downward for the past few days. The total
sales for the week are GA oil bales, of which
So, 1000 bales were contract stock, and II OIL
bales for immediate delivery, as follows:
1923 for export, 1888 for spinning, and 265
for speculation.
Cheap Transportation.
At the session Of the Senate Committee on
Transportation today, Mr.. Hayes, general
manager of the Blue Line Freight Com
pany, made supplementary statement,
the difference on this line of
cars and local cars, and the general system
of management of the Blue cars. and the
reason why elevators are built out West, in
stead of at New York.
Mr.. Worcester of the New York Central
road, spoke on the same subject 1t is sup
posed the committee will conclude their la
bOrs this evening.
A Murderer.
Robert Hill has been held TO await the |
action of the grand jury, on the charge of |
fatally stabbing William Hurley in fight |
on Saturday night.
Customs Receipts.
Customs receipts today, 1854 ,OC0; FOR the |
week, So, ll6, 665.
Total imports for the week Sc, $40, sos, of |
which $4 1877 were merchandise and |
s2,5O3,7lS dry goods.
Specie Shipments.
Specie shipments to Europe to-day Sll4,-
$40 in silver.
The Caban League.
General Mcmahon has reported to the
Executive committee of the Cuban league
hat Vice President Wilson has been in
forned of his election as president of the
league but has not yet made answer. The
eague is now preparing an address to the
,eople of the United States.
Important Suit at LAW.
Aaron Freeman, stakeholder in the
Pacific Mail Steamship Company, has
brought suit against Alden p. Stockwell,
ate president OF the company, and the old
,oard Of directors. to compel the restitution
o the company of a large amount of funds
.lleged to have been appropriated.
1t is charged that in January or February
rockwell, while acting as president of the
ompany, unlawfully appropriated to his
wn use $1,000 shares of the Panama Rail
DAD Company, which was the property of
he Pacific Company, and that he loaned
SIS, 600 of the company's money to Frank
!. Markham upon security of some stock of
ne Cuggle Steamship Company, known by
rockwell and Markham to be nearly. if not
tterly worthless, with the intention that
lark ham should use it for their common
dVantaUe No nnrfinn ut the money lost |