New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1873-11-25
BUSINESS PROSPECTS.
GENERAL REPORTS.
A DEFICIT or OVER HALF MILLION IN THE PITTS
RIRGU CITY kCcoINTa
1BY TELEGRAPH TO THE TRIBUNE1


day In the discovery that tho National Trust
| Company, which suspended last week on account ola
defalcatlOn by the cashier, Greer, already reported
| III The TRIBUNE, held without any security what
ever, bonds and money Of the city to the amount oil
| $5l4,0OC. OF this amount, S223,O00 cash pro-
ceeds of the sale Of Water Loan and Street Bonds,
deposited by John Ross. Secretary Of the Water
Commission in this bank. without the knowledge
of the Commission, so far as known and without
exacting any security whatever. The remainder con-
| sisted of bonds of the same issue. left with the
bank for negotiation and registration, and by tho
directors hypothecated for loans obtained in Pha-
delphia, the proceeds of which were. it is supposed
stolen by the defaulter Greer. 1t is not yet
! known what his defalcation amounts to, as the
experts have not yet been ahi5 to c6mblte t.
The bank YVES an individual liability one, and it IS
believed that the city can the whole amount
lost from the stockholders City Attorney Bigelow
also intimates that the directors will be proceeded
against crmnally for a breach of trust. The Comfy
Treasurer had Sl5O,0OO deposit in the bank fully
secured by bonds.
GENERAL FREss DrsPAroHI
PTrTsBURGH, Nov. PA meeting of the FL
nance Committee OF the City Council called tnis
afternoon to investigate rumored irregularities in the
finances OF the city. Subcommittee developed the
fact that there has been Informal OF water bonds
the Secretary Commission having effected certain
negotiations with the National Company OF this
city. which suspended few days ago, without tue
knowledge OF the Commission. letter from the Oly
Attorney addressed TO the Chairman OF the Finance
Committee states that the facts thus far aseertanod
as follows;
Money proceeds OF bonds held deposit by the VA.
tonal Trust Company s223o0 bonds left with hsnR or
hank for registration Uhirty-thirdst. improvements,
eS credit esn 9 best o nv Tnsr Td ypSe
Gated by bank in Philadelphia, as collateral secu1y
for tho payment OF the obligations OF the bank Inc
s22OOo proceeds of the bonds sold should have been
deposited IN the City treasury but IL seems that IL VIZ
placed in the National Trust COMPANY in the secre
tary's name There IL now s5li,OOO in bonds ana
money In this condition. but il is believed 70 be
individually liable.
JAY COOKE 4 co. IN COURT.
PHILADELPHIA, Nov. 24.-TO-day, before the
Register Bankruptcy, there the case OF sam
uel white agt. Jay Cooke & Co., petition
ing that the said hrm DO adjudged
bankrupts. long examination OF Jay
Cooke took place relative the solvency of the firm He
stated that he able tell at present the precise
condition of his affairs. The will again to-
morrow morning.
WORK sToPPED on TIE NETWORK. BOSTON AND
MONTREAL RAILROAD.
PoUGHKEEPsIE, Nov. 24.-lnformatiOn re-
ceiyed here tonight states that all work the New
York. Boston and Montreal Railroad. between Carmel
and Sylvan Lake, ceased Saturday night in conse-
quence OF the contractors being unable TO get money to
pay the men, Several hundred aborers thus thrown
out OF employment.
MANUFACTURES REsUMING WORK
Troy, Nov. 24.-The Harmony Mills at CO.
hoes employing nearly 5000 persons. resumed WORK To-
day on full time Gilbert Bush Co., manufacturers
Green Island employing 800 men, resumed WORK on
three-quarter time to-day
NEwBURGH, Nov. H-Work was partially re- |
sumod this morning. after suspension OF several weeks
in the Newburgh Steam Mills in this city, owned by
Garner & Co. OF New York, and employing +0J hands,
PouGHKEEPsIE. Nov. 2L-The calico department OF
Garner a. print works WappinRer Falls resumed |
work to-day. giving $50 meu employment
THE POOR IN PATERSON.
An immense gathering of wOrkingmen took |
place at the Paterson Wgwam last evening in answer
to the call discussion Of the labor question None
were seated and the hall presented the curious picture
OF many hundred standing with pantaloons In |
boots and hats on tho densely crowded and all
intensely interested. ExMayor Ryle was cho- !
sen chairman OF the meeting, and In
few words introduced |. the Rev. DR.. Magic |
Of the First Presbyterian Church. ExMayor Tnttle |
the Rev Mr. Crane and tho Rev. Father McNulty fol |
lowed but the only covered the ground gone
over already the two previous public meetings and
some of the speakers seemed to be In sympathy with
the audience resolution that the city authorities be
authorized 90 and complete such 'plan as would
give work to the aborers of the city failed to meet the
case, and was not passed.
been called to gain information TO the best plan to DO
pursued to relieve the unemployed the worngmen, as
being most deeply ted should be called upon TO
express their views. This was met with cheers, and |
Charles Iiyesey came from the audience and mounted
the platform said: All the speakers had suggested
that something be done but had failed TO !
suggest what this something The workmon |
did not want 10 be pauperizod as their |
aldermanic and clerical friends seemed 10 think |
but TO be given work. The public streets were dis
grace TO any city, and they could be employed there
submit to no lowering Of wages from which II will |
take YOU years TO recover Submit TO anything else
live upon crusts, spend Your savings, depend on the
trades unions but don't allow your wages TO DO lowered
penny IN,
John Ramayn another workingman, followed with |
son,e good advice, hoping that the would not put
themselves in position antagontlc 10 tholr employers
most of whom he knew had their interests deeply AT
The Erie Railway depot at Paterson is crowded every
cold day numbers of idle men aud bows who congre-
gate there to obtain warmth from the heaters Occa
sionay crowd becomes great to interfere with
and annoy in their efforts to tickets
one hundred and fifty applications for quarter tons OF
coal were received by the superintendent OF outdoor
Relief during the past five days The Presbyterian MIS-
sion sunday-schoo In Man-st. crowded to Its
utmost capacity Sunday and tho children in need were
proyided with OF bread butter and hot cofee
400 unemployed have made application TO be placed
on the pet Jury during the next term OF Court Coec-
tions in aid the poor taken in several church
"a Sunday night The bonds offered for sale TO consul
tute relief fund have not yet been successful as no
one has volunteered TO advance dollar on this account
hands Saturday night, and reduced the wages or some
OF the remaining ones % per cent
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