Los Angeles daily herald., 1874-07-03
Latest kilograms.
ROUGH JOKE ON THE PRESI DENT
Forged Pacific Railroad Bonds.
The Pacific Mail and the
Railroads.
Railroads Cannot Pay Their Bonds.
EASTERN.
A Brave Man Rewarded.


WASHINGTON July 2.-Lieutenant
Chas. p. Egan, of California, who was
severely wounded in the Modoc war,
has been appointed Captain in the
Subsistence department of the army.
Railroad DefaIcatiOns.
NEW YORK, July 1.-The Atlantic
and Great Western Railway defaulted
to-day in payment of interest on con-
soIidated first mortgage bonds. 1t is
proposed to fund these coupons until
the net rentals under the Erie lease
can be applied to their payment.
The Indianapolis, Bloomington and
Western County also defaulted, and
the California Pacific, on extension
bonds, though it paid no other issues.
The Railroads and the Pacific Mail.
NEW YORK, July 2.-The Tribune
says meeting of railroad men here
last night declared war against the
Pacific Mail, by deciding on greatly
reduced rates to California. AS the
steamship company had representa-
tives at the conference it is believed
that a new effort is making to renew
the combination between the Over
land and Isthmus routes to the pub
lies disadvantage, and that the ques-
ton is still undecided. Russell Sage
says that the Pacific Mail is going to
build three steamers of 5000 tons
each.
CresweIl Determined to Leave the
Cabinet.
WASHINGTON, July l. - Ex-Post-
master General Creswell stated on
leaving the Cabinet meeting to-day
that he would act as Postmaster-GeL
eral until his successor should be ap-
pointed, but he intended to insist upon
leaving the Department as soon as
possible.
Heavy Reduction of Freishts and
Fares.
NEW YORK, July 1.-All the promi-
nent Western railroads to-day con-
cluded an arrangement cutting down
through passenger and freight rates
about fifty per cent. The revised tariff
will go into operation Immediately.
Eastern Wool Market.
Boston, July 1.-The general fea
lures of the wool market are the same
as last week. There continues to be
a good demand for desirable lots and
prices are well sustained. A large
portion of the new Western clip is on
the way to this city, and manufacture
ers will soon have splendid assort-
ment to select frcm. Sales of new and
old Ohio and Pennsylvania f1eeces are
made at from 52@57 cents, and of
Spring California at from 30@40 cents.
Pulled wool is selling at 40@50 cents
for different grades. Superfine and
extra, market firm and demand ac-
tive.
Killed by Il Train.
NASSAU, IN. H., July 2.-The wife
of Maj. Geo. Daniels was killed to-
day, and the Major and his grandson
probably fatally injured, at Milford
while crossing the track in front of an
approaching train.
Doubts as to the Fate of the Steamer
FaraGay.
NEW YORK, June g. The Mer.
chants Exchange has dispatch from
Pictou saying that nothing can be
learned either fhere or at Halifax JUS
tifying the report of the loss of the
cable steamer Faraday.
The Original of Grants Finance Mem
Orandlm.
WASHINGTON, July 1.-The Grant
Jones memorandum on finance proves
to be chapter out of pamphlet enti-
tied Chow to Resume Specie Pay
ments," published a few weeks since
by ex-Judge Pascal.
The Times on Pacific Railroad Bonds.
NEW YORK, June 2.-The Times re-
news the statement that the California
Pacific Railroad is not prepared to pay
its interest.
The discovery of forged Pacific Rail-
road bonds here creates considerable
excitement in financial circles and
tends to depress those securities, be-
cause time purchasers fear getting
spurious issue.