The New York herald., 1873-10-25
Failure Of HOyt, Sprague e.
Co. Reported.
THEY DENY THE SOFT IMPEACHMENT
The Sprague Anthony Rivalry
Again Demonstrated.
EARLY RESUMPTION OF FISK 4 HATCH.
Some Pertinent Suggestions to
Railroad Directors.

The only excitement yesterday was the an
nounced failure Of Hoyt Sprague & 90. Inquiry de-
veoped the fact that this concern had gone into
temporary liquidation, while the word "iailure"
was carefully avoided.
II is worth while to mention the fact that
sssPRAGUEn IN THIS CASE
means Senator Sprague, OF Rhode Island, between
whom and Anthony, the Montague to shakes
peare's Capulet, there Is the traditional stage
quarrel. Whether they are prepared to kill one
another Is q matter for future coroner's
Jury to decide and only as it Affects
the manufacturing interests OF New England are
we affected in this column. In purely newspaper
sense it is pity they wouldn't kill one another,
for neither has shown any reason why he should
live. But let this rest We have not to deal with
dead men, but living heroes. If man offers him
self on trapeze every night and dies that is not
our business We catch him just before he gives
the last gasp. What matters itp What's
the price OF Centrals What's Erie worth
are the inquiries we hear on either side but nihx
0onat1n, are the references that come to tho
newspaper man to satisfy him for his labor Of
inquiry. But Hoyt, Sprague Co. are not dead.
nor struggling. They announce themselves a.
perfectly safe and willing to meet all their lia.
bilitles.
These rumors bring up
NEW THOUGHT
in connection with Mr. Williams, OF the Metropolis.
tan Bank. The representation OF distress Of Rhode
Island which Mr.. Anthony vicarlously made to
President Grant, the State being popularity sup
posed to belong to Sprague and Anthony, had o
significance not generally appreciated, and in its
reception, showed thatif Grant is not Talleyrand,
a Napoleon le petit or Palmerst0n, he has as
least "horse sensen. enough not to give himself
away to any clique in Wall street, for their imme-
date profit without benefit to the country.
The Trustees OF the Union Trust Company to-day
decided to accept Commodore vanderbilt's propo-
sition, as follows:-
Notes of the Lake Shore Railroad Company,
signed by the Commodore as the President OF the
Lake Shore Railroad Company, at three, six and
nine months, with private securities as coaterals.
After this acceptance the Union Trust Company re-
ceived proposition to discount these notes and
reported the same. The receiver VIII ask permis-
sion Of the courts to accept these discounts.
WHICH is WHY REMARK.
hypothecated with George b. Grinnell ana Co.,
about which so much has been said, 1t is only
Justice state that that firm came into possession
OF these bonds In q regular and straightforward
way. The transfer OF the bonds was on the direct
with the regular countersign of other officers.
This disposes OF one great oete nofre, SO far as
AND LIE PLAYED THAT DAY UPON WILLIAM AND ME-
IN A WAY DEsPIsE
and his Wle to G CommodoTe Vandsrbiit was much
discussed yesterday. 1t appears the Commodore
frequently lends his securities to his sons-in-law
and friends, when they are in trouble. II was
mored that this transfer was to secure some loans
to Banker during the panic.
At q meeting Of the creditors OF Kenyon Cox J.
Co., at winch seyen-tenths OF the creditors were
OF settlement which was accepted by
all present.
FISK AND HATCH.
MeSSrS. NJ
resuming business this afternoon, explained that
they had made satisfactory arrangements with the
banks who are their principal creditors, whereby
they hope to resume in a few days. There was
quite sentiment OF enthusiasm developed on the
shortly resume; and II the same means OF giving
expression to gratulatory sense prevails In the
loo guns fred on in front OF Trinity church. No
concern has so wound itself around the affections
OF tas street n,Sea as Fisk natcn has
its late embarrassment fuller sympathy. TO the
regular Wall street chronicler the closing OF this
house was positive loss; Information could not be
sought from those who had temporarily retired
from the market, but with its restoration to its
place and position active brains with intelligent
understanding come to contribute their share
again to the worlds financial knowledge.
In this connection, albeit
WITH DUE RESPECT
to this concern, who may not appreciate our mis-
sion-but facts arc facts and the great public look
to the HERALD not only for full Information bus
for support-we have to draw attention to this
relation. On the 1st OF November there win be due
souPVuS VI SuC SncsoPcahS onu Ouio nauLvaus
interest on $15,o0o,OOo, amounting TO S450,000.
The company Is without the means of defray-
ing this charge The directors are Messrs.
A. A. Low William H. Aspinwall, David Stewart,
G. p. huntington, William Whitewright and Jonas
q. Clarke. The names OF these gentlemen gave
circulation to the bonds Of this road now largely
held by poor investors, and no default can occur
In the payment of the accruing interest without
hurt to these gentemens individual credit. Let
us have end OF this bogus railroad business,
and let 1t be understood that when men lend
road enterprise they do 80 nteligently,
and willingly, and, II disaster
come, tnat they will not wait for the courts to nx
the amount OF tner responsibility. These gentle
men had better provide for the payment OF this
interest or more serious difficulty may supple
ment default. In this connection the following
remarks from morning journal devoted to Wall
street interests are interesting:-
In the present panicky condition of the public mind In
relation to railroad securities any failure tho
payment of interest will produce the possible eff
which may be far from being warranted by the actual
acts II safe TO anticipate that any railroad company
which now permits It's Obligations to GO by
ietaut will pass into limbo of distrust and
'hange Of MANAGEMENT and ownership, with loss,
perhaps OF all nearly all the money already invested
Our railroad capitalists will readily comprehend the i'm
WHICH they may be interested and which really have
solid future before them The in which they met
their obgatons during the very height Of the panic
affords guarantee for the future The corporations as
rule have so far met their maturing obligations with
iegree of promptness worthy OF all praise. Neverthc.
less out of the woods and few words or
caution may not be out OF place at this time.
THE COMPTR0LLER'S RECEIPTS,