The Portland daily press., 1873-10-15
NEW YORK.
Postal Affairs,

NEW YORK, oct. IA washington uo
spatch says the report of the Postmaster Cen
eral will in the main embody the recommen-
mendations of his last report. He Will renew
his suggestions concerning the postal telegraph
and will present some additional statistics re-
lative to the workings of the system in Europe.
Hon. E. B. Washburne United States minis
ter to France has notified the department t1at
letters from this country, although wholly pre-
paid are charged with 80 cents postage IN
France in case the words paid to distribution
are not stamped upon the letter, notwithstand-
ing the letters are delivered to France by
England as fully paid letters. The French ar-
thorities seize upon the technical protext OF
the absence of stamp to disregard the fact OF
full payment.
Suspension of a Sugar Firm.
The suspension of the sugar firm of Living
stone, Hurlbut & Co., is announced.
Foreign Specie at the Assay Office.
Fifty thousand pounds of foreign specie
were received at the assay office this morning.
This makes the total received to date 1927, 900.
More Suspensions.
w. McWhittemore & Co., brokers have sus-
pended.
The suspension of the banking firm of VIM
Hope & Co., is announced The senior part
ner is very i'll and the junior partner is in Eus
rope.
Bank Robbery.
The Long Island savings bank in Brooklyn
was robbed of box containing bonds valned
between $50, 900 and $4,000 while the secreta-
portions of the bank, Loss falls on j. III. See
bach the deposition The thief has not been
arrested.
Failure of Tea Merchant.
The failure of Gillespie, Trowbridge & Co.,
tea dealers, is announced.
Another Letter from the President ON the
Financial Question.
A letter from President Grant to President
Cowdrey of the Continental bank is printed
here.
President Grant saws his letter to Mr.. Clafiin
contained no implied threat to National banks,
his object in that letter being to restore conf
dence and give assurance that TIM government
would give all the aid in its power. The Presi-
dent says he did not believe the panic worked
TO individuals half the injury it would work to
the general good 10 the whole country. No
one distrusts the value of our paper dollar, for
il is boarded with the same avidity the gold
dollar used to be. The panic will call the at
tention to our monetary effects and lead to
needed legislation. Greenbacks are on par
with silver and he predicts it will soon be in
the market as circulating medium, and that
will be long stride toward specie payments
Currency then will never go below silver in
value. He says silver Will gradually take
place of the $40,000,000 of fractional currency
to make the small change necessary for the
rency free for trade. He refers to the produc-
tons of our silver mines. Put it in circulation
He says he shall give the whole subject bis
sncerest thought, with view to some recon-
mendatiOns to Congress, and courts the views
of others.
Failures, Suspensions. etc.
The following failures were reported this af-
ternoon: w. M. Whittemore & Co... VIM
Hodge & Co., Wise & Cross, and c. H. Pierce,
all bankers or brokers. Burgess, Hurlburt &
Co., and Gilispie, Trowbridge & Co.. tea and
sugar merchants, were also announced to have
suspended. Two thousand shares of Lake
Shore were sold under the rule for Boyd, Vim
cent X Co., and this was quickly followed by
rumors of their suspension, and thai of Osgood
& Co., but these firms deny the report.
Mr.. Pierce of Pierce 81 Co., did not affirm or
deny rumor about his house, but his clerk said
that they had been paying out checks all the
morning. and suspension was news to him.
Gillespie, Trowbridge & Co., preferred not to
make statement till after the meeting of their
creditors. W. M, Whittemore said he was
strictly commission house and did not specu-
late on their own account. Their difficulty was
caused by carrying stocks for customers in the
west and this city, men who are perfectly good,
but who could not meet their engagements at
the moment on account of money scarcity.
They resume inside of ten days. VIM. Hoge
& Co., said that the Junior partner was in
Europe. and the senior was suddenly taken i'll
Saturday, while on his way home, consequent
ly no business could be transacted, and suspen
sion became necessary till Mr.. Hoge, Senior, re-
covers.
Various Matters.
A lively business lis being carried on at the
office of the Naturalization Committee The
immigration to all parts of the United States
during the past year was 166, 843, against 1885,
626 the previous year.
A dispatch from Denver, Colorado, denies
that John G. Heeman is dead, but is very
sick
The last juror in Stokes case was drawn this
afternoon and the court adjourned until to-
morrow.
Two petitions are being circulated for sigma
lures asking Congress to repeal the shipping
act.
Thos. Goodwin, well known to the newspaper
fraternity as "a reporter of regattas, horse
races, cricket and base ball matches died last
evening.
All negotiations with the Opollo Hall De-
mocracy have fallen through.