The Somerset herald. [volume] (Somerset, Pa.) 1870-1936, 1875-12-15

see Barnum's great hippodrome, eth
err last season or the season before ?
Not many. / warrant. We'll, the
great show has come to an end, its
glory is departed and the mammoth
aggregation" is dispersed.
The entire concern vas closed out
at auction, last week, which was the
occasion of heavy grones from the
great Snowman Bsrnum always
dealt fairly with the people, and
when be advrtised English race-hors-
rs, that was the kind be gave them.
He imported thirty of the best blood
ed racers in England, aud il vas alb
surd the prices they brought. Web
ster, and English thoroughbred, which
cost Barnum $500, brought only $50,
and the others went at about the
same price. One. Only, went up as
high as $3.50. The highest price
paid for his magnificent draught bors-
es was 1920 for one team, the others
going as low as $50. There were
ls2 horses SOLD, good bad and indif-
~ferent, including the trick and ring
horses, and all they brought was $780,
000-not a tenth Of what Barnum
paid for them two years ago. The
fact is, running horses have no value
in this country; because the trot is
the only gait recognized as valuable
Were Webster as good q trotter as
be is a runner, be would have brought
SIC, 900. Barnum would have made
money had be shipped the horses all
back to England. His other show
property went at quite as ruinous a
sacrifice. The suits of armor worn
in the pageanis, which cost $3.50 each
in London, went for 81. Almost
anybody might go into the show bus
mess on these terms. But Barnum is
rich and be dosen't mind it. He
will do the same thing over in two
years.
THE SAVINGS BANKS
Are collapsing, one after another, to
the terror of the poor, who have
their little all in them. There is fear
and trembling among these people,
for better experience has taught them
that in these times nothing is safe.
This feeling of insecurity has Undue
ed runs that have weakened banks
that ordinarily would have got
through. But those that have brok-
en- were never entitled to confidence.
They were never started on right
principles. A dozen men get togeth-
er and start q savings bank for the
sole purpose Of making a place for
one respectable old gentleman as
President, and two or three brisk
young men as cashier, teller and
book-keeper. A dozen good names
figure as directors, but the business
is all done by the old noodle and the
Young recklessness. The money
taken in from poor men and women
is invested in real estate mortgages,
at fancy prices to accommodate the
directors and their frien Is. Finally,
the tight times come-those who
have borrowed can't pay-the prop
erty security is sold, ana, 10! it has
shrunk in value a half, and down
goes the bank. The nice old gentle
man and the brisk young men get
out Of the way-the directors regret
their imprudence-the poor deposit
tors go s%tarve, and the thing blows
over. Good times bring another
crop. and the game is repeated.
There are over thirty Of these
banks in the city that have failed, or
will, within a few weeks, and it is
sickening to know that in most cases
fraud is at the bottom of their un-
soundness. 1t is a pity that lynch
law can't avenge the poor depositors.
OF all the sharks, these robbers of
working-men, women and children.
are the most to be hated. Tbous-
ands Of laboring people who depend
ed upon their little accuG Nations in
the banks to take them through the
winter, find themselves, these bitter
mornings, without work or adollar to
carry them through the day. Until
some Of these swindlers are hung,
lamp-posts will not have been thor
oughly utilized.
BUSINESS
Continues as dull IS possible, and
faces, long enough in the fall, are
longer now. There will be no i'm
provement till spring. A whole
sale grocer just said I o me there
amt no trade in nothin'." True, if
not elegant.
PIETR0.
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