Los Angeles daily herald., 1875-07-28

cline OF five to eight per cent had
taken place. Crowds gathered on tie
sidewalks of Walland Nassau streets,
and all were anxiously inquiring for
information. One leading broker
says reports have been current that
Duncan, Sherman & Co. have been
making unwise advances ON cotton,
while others assigned it to specula-
tion. Some brokers say that gen.
eral panic cannot follow, as there is at
present too much money on the street.
Tomorrow, however, will make new
and important revelations, and some
small houses may be dragged down.
The firms liabilities are estimated at
five or six millions. The heaviest
being on cotton. Butler Duncan re-
turned from Europe two weeks ago
ago and began examining the firms
accounts. He found the assets insult
ficient 10 cover the Indebtedness, and
failing to obtain fresh capital an as
signment was decided upon. Half the
Indebtedness is to parties in Europe,
much of it being on letters credit.
Recent heavy failures in the Man.
chester cotton trade have contributed
to the firms difficulties.
The real estate market here was
quite depressed to-day in consequence
of the failure and panic in stocks. The
excitement at the cotton exchange was
intense, and nearly every one inter-
ested in cotton was calling for margins
and loans. Rumors current this after
noon that the largest cotton house in
England had failed added fuel to the
excitement. The price of cotton went
down three-eighths of cent per pound
as soon as the failure Of Duncan, Sher-
man & Co. was announced.
The Bulletin says the suspended
firm of Duncan, Sherman & Co. are
reported to have sustained heavy losses
on securities of the Atlantic and Great
Western and Southern roads, and also
suffered considerably from the decline
in cotton. 1t is to be feared heavy
loss will fall upon the creditors of the
house in Albany, New York. Dun
can, Sherman & Co. were the financial
agents of the city of Albany. The
balance with them now is the smallest
OF years, being only few thousand
dollars. The Chamberlain yesterday
mailed draft for $4,000 to pay the
Augusts interest. This was not re-
ceived before the suspension andis
doubtless all right.
Killed by n Train.
COUNCIL BLUFFS, July 9th. This
morning as train from the East on
the Rock Island road approached the
bridge which crosses the Mosquito just
East of Council Bluffs, the engineer
discovered a boy sitting on the trestle
work at the West end of the bridge.
He at once slackened his speed, and
the boy seeing the train jumped to the
ground He was accompanied by q
companion, who had fallen asleep on
the timbers between the rails and did
not hear the train until it was too late
and was instantly killed. -f.tt
DelanO asks to Resign.
WASHINGTON, July 2Gth.-Recent
newspaper statements to the effect
that the President had, on the Goth of
June last, addressed letter to Secre-
tary Delano asking for his resignation
and that Delano had visited Long
Branch and besought the President to
retain him in the Cabinet, are with
out any foundation whatever No
such letter was ever written by the
President, neither has Delano been to
Long Branch this season.
The Commissioner of Patents.
CHICAGO, July 27th.-A Washing
ton special says that an attempt is be-
ing made to secure change in the Of
flee of Commissioner of Patents.
Thatcher, the present incumbant,
has displeased number of local attor-
neys, who are opposing him, and po-
litical influences are. being used in fa-
vor of r. Ell. Duell, an ex-member of
Congress from New York. The indica-
tions are that Duell, will receive the
place.
Trouble in Louisiana.
CINCINNATI, July 27th.-A New Or
leans dispatch states that a riot is APP
pretended at East Feliciana, where
the negroes have assumed the offens-
i've and are collecting and arming
through the parish, for the purpose of
capturing the town of Clarion. Great
excitement prevails throughout the
Parish. A number of whites have
armed and congregating to patrol the
town. Bad feeling has existed be-
tween the races in that Parish for some
months.
PHILADELPHIA, July 27th.-Wool,
quiet. Fine and medium, 2S032c;
Texas coarse, 24@25; California fine
and medium, 2S@35; California coarse,
25G130c.
Another Suspension,
NEW YORK, July 27th.-Duncan,
Sherman & Co. suspended this MORN
ing. There is great excitement in
Wall street.
colorado Jail Delivery.
DENVER, July 27.-At three o'clock
this morning the prisoners in the old
ward of the county Jail, several in all,
sawed out one of the bars of the cor.
ridor next their cells, in which they
were permitted to walk for exercise,
and got out into the main corridor,
tearing up some of the bricks which
formed the floor. They placed them
in stockings to use as slung shots, and
then went towards the guard room.
They encountered Jailors Holtz and
Sopris, whom they knocked down
with bricks, secured and locked them
into one of the cells. They then rob-
bed the armory of the Jail, and made
their escape. Holtz and Sopris were
both badly injured, and it is feared
they will not recover. The escaped
prisoners are Hall and Wilder, incar-
cerated for murder of Deputy Sheriff
Hooker, of Elbart county; Henry
Leighton, the murderer of Sam'i An
derson, in Denver, and Jacob Strouse,
burglar. There was much excite
ment to-day.
Cabinet RumOrs.
6 WASHINGTON, July 27th,-The Sec
retary of the Treasury has designated