, 1875-09-02

large sum Oh luOuoy uuo AsOOs' AAeA>s~>
before receiving the order to stop pay
ment.
Editorially commenting on the fail.
ure of the Bank of California the Eucn.
ing Post says: had the bank followed
legitimate banking business, ita
strength might have been as enduring a
time, but its failure shows that even The
strongest must conform to laws which
experience has prescribed or must sub-
NIT to the inevitable penalties which
follow a departure from them. The
Bank of California has simply abused
its credit, and has been overtaken by
the consequences. Losses in the East
ern states will be chiefly by reason Of
the purchase Of sterling bills Of the
bank. There will be limited to unac-
.cepted bills which the bank drew on the
Bank strength. Bills of the Bank Of
California were prime in San Francisco
and rated next to prime in this market
The failure Of the bank will probably b
used by infationists a. an illustration
showing that there can be financial dis
asters where the currency is hard mon.
ey.
VICTORIA, Aug. 2S.-Lenze Gorham
the second officer of the =. s. Salvador
now in this port, committed suicide BY
drowning himself at IN early hour thi'
morning. The unfortunate man sup
posed he had lost three thousand dol
lars through the failure of the Bank O
California, which SO depressed hi!
spirits that he determined to end hi
life. His body was recovered ant
buried at noon to- day.
ALBANY, N. Y. Aug. 26.-Geo. D
Lord, Jr., one of the Canal Ring and a,
ex member of the legislature was arres
ted in Rochester and brought here OF
charge of bribery in procuring leglsla
ton for the payment of 100000 to
contractor in 1871. BE was bailed il
SIS, 900 dollars
TRENTON, Aug. ga warrant ha'
been issued for the arrest of Jossphu
Savoy. Jr., State Treasurer, charged
with embezzling $50.00O.
ST. LOUIS, Aug. N.-Reports from
100 points in Arkansas, West Tennessee
and Northern Mississippi show that tn
crop prospects are Of the most crafty
ing character.
NEW YORK, Aug. N.-Committees O
the Western Union and Atlantic & Paci'
fic Telegraph Companies. it is reported
have come to an agreement to day BY
which the latter company will be pur'
chased by the former. The terms of ths
agreement are saiatv lie q guarantee o.
the shareholders of the latter compa ny
of seven per cent on capital of $2l.'
500, 900 or Is per cent Of the capita
stock of the company. These term
only await the approval of the director
OF. both companies to complete the ne
gotiations.
1t is reported that Gen. Butler is re
tanned as counsel for Tilton in thil
second suit against Beecher.
BUFFALO. Aug. N.-The large four
masted steamship Persian, from Chi
cago to Buffalo, to-day with 5O.Ool
bushels of corn and Is, 900 bushels o
wheat is reported burning rapidly tel
miles east of Long Point, Lake Erie
last night. and will probably be tota
loss. Grain insured.
The propeller Persian cost $125. .0O'
when she came out last August. He
registered tonnage was 1,630 tons. Sh
was the largest propeller on the lake
except the Commodore.
NEW YORK, Aug. 2S.-The new post
Office is now in active operation. Busi
ness will be removed from the old build
ing ct 10 o'clock tonight.
JACKSON. Miss. Aug. %. The Miss
issippi Republican State Convention
continued in session till 4 O'Clock thi
morning. The proceedings were No
harmonious nor enthusiastic, and at on
time they were positively diagraeeful
The platform contains nothing.
PHILADELPHIA, Aug. 29.-The Mayo
of Trenton with city officer arrivet
here to day and arrested Savoy, the al
legged defaulting State Treasurer of Nsv
Jersey. He was taken to Trenton. H
made no objections and said his 10
counts would be found correct.
MONTREAL, Aug. 29.-Fourteen cit,
dry goods firms have been compelled X
arrange with their creditors the pas
week.
NEW YORK, Aug, N.-The Evening
Commercial says there is not much
change apparent from the Pacific Coas'
trouble. There is a large amount o.
joint account or partnership business
in merchandise done between this mar
ket and San Francisco, which. for the
time may be inconvenienced by curtail.
ment of banking facilities in San Fran
cisco, but nothing serious so far as w
are advised, is likely to come of this
trouble.
Dispatches from Europe state tha
Mr.. Wade, British Minister at Pekin
has asked the Government 10 reinforce
the British troops in China, as in inter
course with officials at Pekin he ha,
been treated with studied insolence
The demands he has made for the mur-
der of Margaray have been treated with
contempt.
New YORK, Aug. 2S.-A London dis
patch says that the President of th'
Oriental Bank of London, agents fol
the Bank OF California, states that tn.