The Redwood gazette. [volume] (Redwood Falls, Minn.) 1873-1940, 1873-10-09

the bombardment of Alicante by the IN
surgent men-of-war had failed. The bonn
bardment had opened at fve o'clock on the
morning Of The a7th, and5oob rojectiiss, some
of which were filed with petroleum, had
been thrown into the city. There was much
damage, and several offices were in ruins.
vigorous fire was returned from the forts
end batteries on shore, with effect, for at the
end of seven hours the rebel iron-clads had
slipped their cables and Withdrawn in dam
Urged condition;
A Paris special of the 2sth states that ex-
President Theirs had accepted the leadership
of the party Of the left.
A Berlin dispatch of the 2Sth announces
the death of Louise Muhlbach, the celebrated
German novelist.
ALondon dispatch Of the Goth says that on
that day a6SS, 600 of bullion had been with
drawn from the Bank of England. The d.
rectors had, in consequence, advanced the rate
Of discount to S per cent. The election for
Lord Mayor Of Dondon had resulted in the
choice Of Alderman Lusk.
| A Madrid dispatch of the 10th says it is
thought that the failure of the Insurgents to
capture Alicante would cause the speedy sur
render Of Cartagena, thus ending the Intransi-
genie insurrection. The Carlists had met
with series Of damaging reveres in the
North, and discomfort and decentralization per-
vadcd their ranks.
A Paris dispatch Of the 10th says that Pere
Hyacinthe had abandoned his clerical garb
The East.
A telegram from Philadelphia, of the Esd,
announced that the financial storm had passed.
All the State banks that were under suspen-
sion had resumed, except the Union and Citi-
zens', and the latter would be ready for bust
ness in a few days.
In New York, up to three o'clock D. m. of
the 2Sd, there had been q general feeling of
confidence, and the impression had prevailed
that the crisis was over. At that time this
happy state Of things was rudely shaken by
| the report of the suspension of the house of
Henry Clews & Co. This event had unsettled
the feeling of security which had pre-
vailed, and fears were entertained that
the end had not yet been reached. At
| the close of business the Government had pur-
chased and paid out over s1O,OOO,O 600 green
backs for bonds. Ten millions more were
ready to be paid on further purchases, and fif-
teen millions in gold notes awaited the presen-
tation of the five-twenties of 1862 called in for
November 16. The Stock Exchange had re
manned closed. The run upon the savings
banks had continued, but as most of them had
adopted the time rule for the payment of de.
positors the excitement soon abated.
| A dispatch from Paterson, N. j., says that,
in consequence of the general depreciation of
new railway securities, the orders for locomo-
tives for three months ahead at Rogers Loco
motive Works, in that city, had been Cancelled,
and $50 workmen had been discharged. 1t
was feared that 500 more would be discharged
from the same works, and several hundred at
the Danforth and Grant works.
A New York dispatch of the oath announced
that Howes & Macy, an old and well-known
banking firm, had suspended. The Clearing
House had issued another SIC, O0O, 600 of loan
certificates, and resolved to stand by all the
banks that refused to pay out currency over
their counters, and expel all those that do not.
Brown & Watson, gold brokers, had suspended
The examination into the affairs of the Union
Trust Company had been concluded, and a
statement would shortly be made. 1t was said
the defalcation of the late Secretary would not
exceed 100000.
A dispatch from Wilkesbarre, Pa, of the
oath announced that Brown & Gary, bankers
of that city, had suspended.
The New York Republican State Convention
met at Utica on the oath, and nominated Fran
els 8. Thayer, for Secretary of State; Nelson
X. Hopkins, for Comptroller; Daniel G. Fort,
for Treasurer; Benjamin D. Silliman, for At
torney- General; 8. Mead, for Canal Commits
sioner; VIM. B. Taylor, for State Engineer;
NJ. X. Plat, for Prison Inspector.
Resolutions were adopted affirming that the
past history of the Republican party was q
guaranty that 1t would be true to every
future obligation and requirement.; that the
party had overthrown the Tammany majority,
elevated the judiciary, purified elections, and
that the completion of the reform requires q
continuance of its work; that the Republican
party had shown itself the true friend of tenn.
perance; that it was the imperative duty of
the State Legislature to provide means for the
speedy and cheap transportation of cereals
across the State to tide water; that the course
of those Senators and Representatives who op-
posed the back-pay and increased compensation
was approved, and that the Republican
Senator from that State be requested
to introduce q bill to cover into
the Treasury oil sums undrawn, or publicly or
privately renowned.
A New York dispatch of the 25th says the
day has been q comparatively quiet one in
Wall street. The means of relief adopted by
the banks in effecting bank clearances by loan
certificates had eased the pressure on them
selves but had not materially aided others.
The extreme caution Of those institutions, and
their anxiety to protect themselves, had added
largely to the actual scarcity of money, and
there were grievous complaints from the great
commercial world and the Produce Exchange
in particular. Earnest appeals had been made
to the Government for relief, and resolutions
had been adopted by the Produce Ex-
change suggesting to the Treasurer the
issue of currency to the banks and bank
ers on evidence that gold had been
deposited in the bank of England to
the credit of the United States to be used only
in buying exchange. The breadstufs market
was still under the influence Of the block in
exchange.
A Newark IN. J.) telegram Of the 25th an
wick had suspended. This is the bank that
was crippled by the Irregularities Of Appleton,
the Cashier.
New York dispatches of the 18th say that
better feeling prevailed in that city on that
day, in regard to finances. Henry Clews &
Co. and Macy & Howes had proposed to their
depositors to resume business on new accounts,
leaving the old to be settled as securities can
be negotiated. Gold had taken an upward
turn. At one period during the day it had
reached 1l41X, but it subsequently receded to
11S1, and closed at 113<. More activity had
been developed in Western produce. Prime
bankers sixty-day sterling had sold as low as
1OS. and sight 1O4; commercial bills at 1910
1O2 for sixty days. and 10S for sight. The
banks had cleared early and In good shape.
There had been few sales of stock, but the
quotations were not considered reliable. The
city had been drained Of money at alivelyrate.
The Express Companies had been carrying
away currency ct the rate of $4,000, 600 day
for nearly week. It was rumored that Fisk