Los Angeles daily herald., 1873-11-30
LateiTe|egfams'
NEW YORK.


The Tribune says memorandum Of
agreement between Thomas A. Scott,
Matthew Beard and John McManus,
endOrsers of notes of the California,
Texas and Pacific Railroad Company,
and creditors of the company holding
their notes, has just been presented to
the latter for their approval. 1t is re-
ported that a number of the largest
creditors have agreed to the offer, and
Colonel Scott feels confident that the
company will come out all right. The
document provides that paper now due
or hereafter maturing known as two
name or three-name paper, and en-
dorsed by Thomas A. Scott, Matthew
Beard and John McManus, or any two
of them, is to be extended with like
endorsement with interest at seven per
cent. added as follows: Ten per cent. of
same for six, nine, twelve and fifteen
months from date of maturing, and2O
per cent for eighteen, twenty-One and
twenty-fOur months from same date.
In consideration of All extension by
holders of the land grant bonds OF the
Texas-Pacific Railroad Company as
collateral, are to be given additional
collateral to the amount of the face of
the paper in the first mortgage con-
structiOn bonds of the Texas-Pacific
Railroad Company at par, and to all
holders Of paper without collateral,
first mortgage construction bonds of
the Texas-Pacific Company are to be
given at the rate Of GU cents on the
dollar on the face of paper so held. A
second memorandum of agreement be-
tween the company and holders of un-
indorsed paper Of the company has also
been issued. The time on this paper
will now be extended for l2, Is or "a
months, with interest at seven per
cent. New notes are to be issued for
the value of q third Of each note or
claim, for the extended period above
mentioned. In consideration of the
extension there will be delivered as
collateral security for notes, land grant
bonds of the Texas-P Pacific Company at
the rate of so cents on the dollar, the
holder to have the privilege of pur-
chasing bonds at 80 per cent. any time
before maturity of the notes.
NEW YORK, Nov. 20.
"a A Lewis Delaware dispatch, says a
stress Of weather commenced and the
monitor Manhattan put back. She
labored heavily in the seas so that
: leak was made under the turret,
through which water poured in i'm
mense quantities. Her commander
thought she must go down, and had
her boats cleared and life preservers
distributed.
Frank L. Tainter, the defaulting
cashier Of the Atlantic Bank, was SEN
fenced to seven years in the peniten-
tiary. IHH IUJu uNE IfLFG11hi
At 2:3O p. NJ, VIM. NJ. Tweed was
taken in a private carriage from the
Tombs to Blackwells Island in charge
of Deputy Sheriff Shields and Gale.
He was accompanied by his son, Gen.
VIM. Tweed, and his sOn-in-law Nc
Ginnis, of New Orleans.
Thomas A. Scott publishes card in
reference to the statements regarding
the Texas Pacific Railroad Company
applying for government aid. He
says that no application will be made
OH behalf of the road with which he
is officially connected, unless upon q
basis absolutely secure to the govern
ment, and certain to promote the ma
terial interests Of the country, and the
active employment of thousands Of
deserving men now idle. II an ar
rangement can be devised by which
these great works will be completed,
not only without any possibility Of
loss to the government, but on the
contrary to its best interests. This is
a consummatiOn most devoutly to be
wished for. He asks the careful con-
/ }sideration Of the press of the country
before adverse criticism is passed.
A special dispatch from Washington
received at late hour last night, con-
tains the important information that
Spain has conceded the demands aris-
ing out of the seizure of the Virginius.
The demands were for the liberation
of the passengers of the Virginius still
living; the release of the vessel; the
salute to the American flag, and a pro-
vision for the families of the captives
executed. The time for saluting the
flag has been fixed for next Christmas.
To provide for the contingency of
Spain's not being able to enforce the
promised concessions, the work Of
naval construction is not to be inter-
rupted. Spain, it is asseIed, also
agrees to bring to trial and punishment
the officers who caused the shooting of
the captives.
5 Some prominent capitalists, repre-
senting western interests, now in this
city, had audiences with various bank
ers, yesterday, for the purpose of OBJ
tanning an understanding Of the mon
etary affairs at this centre, to deter
mine what course should be pursued
In future by western banking institu-
tions. They related the conversations
held with the President, Secretary of
the Treasury and some members of
Congress, during their visit to Wash
ington, whence they have just re-
turned; and expressed their convic-
tions that in some form or other the
enlargement Of the currency volume
would be made hldElQ i698 9ni
Judge Davis to-day fined Graham,
Fullerton, and A. w. Bartlett, the
senior of Tweed's counsel in the late
trial, $3.50; after giving them sharp
lecture for breach Of morals in hand
ing him q paper giving reasons why
he should not preside at the trial. The
jnnior counsel was let off with a repri-
mand. The Court was densely packed
with distinguished lawyers. Judge
Davis remarks were frequently ap-
plauded.
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