The Portland daily press., 1875-07-30
From the Maine State Press of Jnly 29, 1875.
History of Seven Days.
The News for the week ending Wednesday
aY July 3S.
BUSINEsS-HEAyY FAILURE,

BUSINESS-HEAvY FAILURE.
Tuesday morning, Duncan, Sherman & Co.,
LEADING banking house in New York, an
nounced that they were compelled to suspend
and had made general assignment of their
affairs to w. d. Shipman. They say that losses
and misfortunes in business hive compelled
them to take that step. The credit of the
house at home and abroad has been among the
first. Their liabilities are estimated at five or
six millions, and are scattered all over this
country and Europe, but are due to such parties
as not to affect general business. Bad cotton
speculations and unfortunate railway enter
prises such as Erie stock, are the causes. The
announcement of the failure caused quite pam
ic in Wall street and stocks danced about wild
ly for time. Gold went from 111a to 1164 in
no time, and panic seemed inevitable, but in
the afternoon matters quieted down so that no
panic or disaster is anticipated Money is
plenty on good security and can be had at low.
er ratess than in London. 1t is reported that
the Union Bank of London, the largest joint
banking firm in that city, has suspended.
During the first of the present week the
prices OF wheat and corn advanced rapidly in
VA
b in few weeks wheat has advanced 81 cents
bushel and corn 10 cents. Friday, however,
the prices declined to some extent under the
impression that the rise was rather speculative
than on account of short supply. The West.
ern papers say that the amount Of wheat held
back is not large, and that corn is still shorter
and that the prospect Is poor for large crop
this season.
There is a prospect OF large demand for
breadstuffs from Europe the present season.
The prospect in England is some better of late,
but it is asserted that in the wheat growing
sections of Russia, which of late have furnish
ed Great Britain more grain than the United
States, the crop is almost a failure.
Just now business is generally at its dullest
even in years when it is good, but there is moth
ing yet to indicate an extensive revival during
the fall. Many factories are reducing their
production; but everybody is purchasing as lit
tie as possible SO that the supply on hand seems
ample even for more prosperous times.
In Europe the prospect is dark enough. Fac
tories by the hundreds are shutting down, and
official reports show an alarming falling off in
trade. This is particularly true of Great Brit
ain.
THE NATIONAL CAPITAL.
These are listless ii mes at the National Capt.
toll which is only brisk when Congress is in
session, but is now torpid. Old Uncle Spinner's
money-his millions counted out to dot
which is a wonderful fact considering he had
millions by the hundred.
1t is now stated that some time since the
President signifed to Secretary Delano that his
resignation would be very acceptable, and if he
didn't bring it like man he should name his
successor. This report has had quasai denial
but not enough to change matters much. 1t is
said in reply he told the President he would
make it very warm for some of his associates
threat which annoyed the President, but he
finally allowed Mr.. ID. to retain his place so
long as he is under the fire of investigation,
Boss Shepherd and the Washington ring
could not save District Attorney Fisher, and he
has now resigned his Office. Elk Gov. Wells
will be appointed. The Postmaster General
has now begun action against the straw mail
contractors.
Two indictments have been found in St.Louis
against Chief Clerk Avery of the Treasury De.
partment in connection with the whiskey
ring, and he has resigned his place.
O. c. Adams now in Europe, is to be Super.
vising Architect in place of Lobdell, de-
ceased.
1t is said that Secretary Bristow is to make
an immediate call for $14OOO,O 900 of the 5-2Os of
1862, which extinguishes that issue, which. at
first amounted to 1914, $50 900.
The President has selected Senator Morrill,
of Maine, Senator Howe of Wisconsin, and
Hon. Wayne McVeigh of Pennsylvania, as ad-
ditional members of the Indian Investig ating
Committee. Senator Morrill, has declined to
serve. The committee has gone to the Red
Cloud agency to examine witnesses. Prof
Marsh says there was no fraud in filling the
contracts in the east, but the goods were either
changed on the route or not delivered.
CRIMES AND CASUALTIES.
Secretary Fish has informed Mayor Wick
ham of New York that an association of coun-
terfeiters with their headquarters at Barcelona
are preparing to issue $12,0OOO0O of Bank of
England counterfeit notes and notes on the
Bank of France.
Three of the Cold Spring, N. Y, gang of
highwaymen have been captured.
A st. Louis special details bloody fight in
the Cherokee nation between the Ross and
OoWuiuR pOlitlCdt IactlOnS, IN winch several
persons were killed. Anarchy is impending.
The Mayor of Newark, Ohio, and three
other prominent citizens besides fifteen or
twenty boys were badly burned one day last
week by the premature firing of a building
which had been erected for the purpose of test
ing fire extinguisher. Several of the boys
have since died.
a man named Rudolph, guilty of several
atrocious murders near Memphis, was recent.
ly caught by mob and hanged.
AT Carbonate, Pa, Mondry night John Jor-
dan, discarded lover of Miss Coyne, at the
hs sS g Of "a. gang Of roughs, attacked the cot
Coyne and fatally wounded.
BY the bursting of several cooking tanks in
paper mill at Iowa City, Wednesday week.
i've men were killed and their bodies hurled
long distance.
). +. johnson, deputy collector of internal
revenue and member of the Florida legisla-
ture was shot and killed Wednesday night in a
sun mousse at Fernandina. The assassins are
unknown.
Yellow fever is raging fearfully at Barrapcas
Latest dispatches say: "The epidemic is fear
tul. Keep all strangers away We are going
day and night to care for the sick. It is feared
there is some local cause for the disease At
tne Fort there are % enlisted men down sick.
one OfncerS wife, seven laundrascao ond eor