Nashville union and American. [volume] (Nashville, Tenn.) 1868-1875, 1875-07-31
NEW YORK.
More OF the Recent Failure.
Losses OF Some of the Victims,
DepOsltOrs Lose $4,000, 600.
Consolidation of Telegraph Lines

NEW YORK, July 3O.-Mr. Duncan
stated yesterday that at least five-sixths Of
the letters Of credit held against the 6rm
were secured by special deposits, or by a
note drawn for this special purpose and
properly secured, IN which the maker
/ agrees to pay such amount as he may draw
against it, and in all such cases these let
! teTs formed no part of thesaSsets Of the firm.
A director of the Mobile and Ohio Railroad
says that the road was financially in a very
low condition when Ir. Duncan was
elected president. When the interest on
the second mortgage bonds became due,
about April last, the company
was not in condition to
meet it, and an arrangement was
made by which the bonds were taken by
Duncan, Sherman q Co., but be did not
think the money was advanced by this firm,
but from Alexander Duncan, who was in
Scotland about this time. Mr.. Duncan
was appointed Receiver Of the road. The
whole bonded debt of the road amounts TO
a little over twelve million, and be thought
Mr.. Duncan holds a large amount Of these
bonds, which he originally took as security.
This alone, however, could not cause the
failure, as the bonds could not have cost on
an average over twenty per cent. on their
face value. In his opinion a very large
amount was sunk in the New York and
Montreal railroad scheme.
1t is asserted that Theo. Moss had 500
600 with the firm. MeSsrs. Henderson &
Colville had $4,000, and William Wheat
ley had a very large sum. j. l.. TOOle
holds their paper which he bought fort
night ago, to the extent Of $4,000. II. j.
Montague deposited with them his earnings
here, aud John BrougRam had almost his
entire fortune III the house. John Z. Ray
mOnd and VIM. Florence both hold letters
of credit from the firm, as well as many
of their professional associates abroad.
Catholic Address TO the Pope.
AT a meeting of Roman Catholic pastors
last evening, an address to the Pope, eX-
pressive of a sense of dignity conferred on
the diocese by the elevation Of its Arch
bishop TO the rank of Cardinal, was
adopted. A committee was appointed to
present the, address to II. Roncetti, of the
Papal Legation, who will be escorted down
the bay tomorrow on his departure for
Europe.
The Northern Pacific.
The bondholders of the Northern Pacific
Railroad yesterday confirmed the appoint
ment of Charlemagne Towers as trustee Of
the road. The Purchasing Committee still
hold daily meetings 20 make arrangements
for purchasing the road for the bOndhOlders.
The Office of N. Silverturgh, dealer in
gold watches, chains and plated goods, 46
Broadway,was seized by the sherifiin eOnse-
quence of the alleged discovery that the
firm were engaged in swindling operations,
by which various merchants suffered to the
extent Of forty thousand dollars. 1t is
stated that Silverburgh was stationed: in
Mexico where he sold goods shipped by-his
agent here.
Henry Ward BeeeheF.
The World says Henry Ward Beeeher
has decided to give up his usual course Of
winter lectures, and will devote the most
Of his spare time to the building up of the
Christian Union, writing for it every week
a series of articles. When not occupied on
the paper and free from church duties, he
viii spend his time in completing bis Life !
of Christ.
Vice President Green, of the Western
Union Telegraph Company, said to a re-
porter this evening relative 10 the rumOred
consolidation with the Atlantic and Pacific
Cof,Uany: l am not authorized TO say any
thing dsinite concerning the subject Of
/ believe, however, that
terms Of a CONTRACT booking to a union have
been submIttedtO the Officers. cannot
inform YOU whether that. contract is &C
ceptable or whether it has been ratified.
s2.OOo.e zoo OF DeP0sits-
It is rumofed in WallstraS to-day that
deposits in Duncan, Sherman x Co.'s
bank amount to S2,0O0,000.