The New Orleans bulletin. [volume] (New Orleans [La.]) 1874-1876, 1874-03-25
w ashington News.
From the st. Louis Globe.l

tlo1, just concluieu bN u portion OF me
House Banking and Currency Committee
was made to-day. 1t consists in great part
of Il recapitulation of the Receivers report
and shows how this bank, doing Il prosper
Gus business. was wrecked Ivy the snecnla-
| tive necessities of Jay Cooke K Co. The
subcommittee are quite emphatic in their
| characterization of the loose manner in
which business WAS conducted. The bank
acted as agent for other banks in the re-
demption of mutilated currency. The
! funds thus received are shown to have been
handled by all parties in manner criminal
| ly careless. The general business of the
bank is shown to have been loosely conduct
ed The Cookies were the principal stock
holders in the bank. They are shown to
have drawn and used the assets of the
bank, the mutilated currency, etc, in ways
not only outside of, but in
| VIOLATION OF LAW.
| The whole bushes is severely assailed.
Reports are again circulating in relation
to Secretary Richardson and his probable
resignation. ~
The Secretary declares there is no truth
whatever in the stories. On the other hand
influential persons affirm that he will retire.
In their case the declaration is probably
fathered by their wishes. The rumors grow
out of the charges made that the Treasury
|
Sanborn contracts. Among ether statements
is a curious one from Judge Pendry, of Leav
enworth, that when the law passed he asked
for a contract, specifying that Kansas was
withholding taxes to the amount of $3,OOO,-
900, but that he could not obtain the con-
tract, which was afterwards awarded to
others. The statement Of any such sum be-
ing due is egarded as extremely ishy.
The inter-convertible bond proposition as
a basis for expansion of the currency APP
pears to be growing in favor. congressman
are receiving letters from all quarters, crit
csing sharply the delays in settling some
financial policy. Senator Sherman does not
seem to be DESTROYS of pressing the financial
debate to Il conclusion.
The Senate Finance Committee are said
to desire to report bill fixing the green
back volume at an amount now believed to
| be but $3.50 coo. 900. There is q minority OF
the committee in favor of fixing it at $780,,
0O0,0O0, TINS
IEGAIIZING THE ISSUE
Of the balance of the forty-fOur million.
The feeling in the House in favor of a large
addition to the volume of the currency in
creases with the delay. 1t is predicted that
no concurrent action will be had during the
session, except perhaps, the legalizlng OF
the issue of the torty-four million reserve,
and fixing the volume of the currency at
four hundred million. These will probably
be taken by both Houses as a compromise.
Senator Window, chairman of the Com
mittee on Transportation Routes, has his
his report nearly ready for submission to
the committee Many parts of his report
have been prepared in consultation with the
other members.
Senator Morton will make another speech
on Monday on the financial question.
Mr.. Dawes will, on Monday, for the Ways
and Means Committee, endeavor to procure
action under suspension of the rules on
their bill restoring the sgreenback vol
ume to
| FOUR HUNDRED MILLIONS
/ He will permit only two amendments to
be offered, namely: One to fix the legal
tender volume at the old limit of three hun
bred and fifty-six millions, and another at
| its present volume.
HEAVY REAL ESTATE SPECUIATIONS IN THE
DISTRICT OF COLUMBIA = CONGRESSMEN
AND HIGH OFFICIALS BELIEVED TO BE IN
| vOLvED.
! Courier Journal
| WASHINGTON, March 21.-The District in
vestigaton has reached stage when the
proceedings begin to be decidedly lively.
In the first charge OF the counsel 1or the
lmemorialists, which the ring newspapers
affected to treat with ridicule as unimpor-
tant, it was alleged that there had been
| formed some years ago a real estate pool
and conspiracy, and that Messrs. Kilbourn
and Latta, said to be in the ring, had in
vested S71S,O3l SO in real estate in the north
western part of the city. To-day Mr.. Latta
was put on the stand and interrogated
pretty closely on the subject. 1t appeared
that Henry ID. Cooke & Co. had advanced
S25, 900 about the 25th Of August, 1871, for
this purpose.
Here Latta's memory began to fail him,
and Judge Black, who had given his aid as
counsel to the ring, came to his aid, but
without avail The committee insisted on
his answer Mr.. Stewart, a member OF the
| committee who has been understood to be
| largely interested in these real estate trans
actions, thought it the most polite course for
| him to come out and make clean breast OF
| it, which he did by owning up to the pnr
chase in 1871, of 1851 $40 worth of real estate
for himself and two others, and sale OF his
portion at a profit of $4,000, the virtuons
Senator stating that in building his house
he did not know what improvemt hts were to
! be made on the street. 1t so happens by the
most curious coincidence that very extrav-
,acant and costly set of improvements was
aadc in that very direction soon afterward,
:Nd the property of the ring purchasers
taxed only at a nominal rate pay for them.
HIGH OFFICIALS SAID TO BE INVOLVED.
Mr. Latta was next brought to book on
fthequeston where he got the money for
the and which he bought as trustee; this
he fntly refused to answer. Judge Thur
man Informed the witness that he must
answe', citing the rules Of law on this sub
ject The pushing home of this matter
goes over till Monday. when MIR. Latta is
told to king his deeds and answer all ques-
tons. Of course, if there was nothing
rotten in this business, Latta, who is said
to be intimately connected with the District
ring would be glad to answer at once. The
general belief is that among the people for
whom Kilbo,rn and Latta hold as trustees
there will befound a number of members OF
Congress andhigh government officials, and
some predict that they will be strong
enough in Congress to prevent any real and
effective punishment of the witness for his
cOntumacy.
THE EFFE-T ON TIE HOUSE.
The proceedings in the House to-day npOn
District matters Slowed the effect of the
pending investigation. The bill to appre
pirate $3.50, 900 for bridge over Eastern
Branch received it's quietus, and the bill to
.,,,onr;ata COZ d00 Cor the salaries Of the