The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1875-08-06
CHICAGO.
DUNCAN, SHERMAN co. AND CHICAGO
BONDS,

lDUNCAS, SHERMAN & co. AND chicago
BONDS.
CHICAGO, August 5.-Comptroller 8. S
Hays sent to the City Council last night a
communication and order in relation to
the outstanding bonds and coupons Of the
city for which deposits had been made
with Duncan, Sherman 4 Co. He shows
that he deposited with the firm July Goth,
to coupon account, $367, 700 for the pay.
ment Of coupons and bonds due July !,
At the time OF their suspension the bal.
ance unpaid was $4,000, He adds that
the amount Of outstanding coupons and
bonds is within these figures. There is a
question about the legal liability OF the
city to pay these coupons and bonds, but
there can be no question abOutthe moral
obligation Of the. city to provide for
them, They are held to great extentby
small prOprietOrs in emolecountries who
are ignorant Of our laws and at a great
distance from the place OF payment.
Duncan, Sherman n Co. were agents Of
our own selection, to whom We helped to
give credit by entrusting them with our
business for long term Of years. A great
and wealthy city like Chicago cannot
avail itself OF a technical cirCum stance.
1t Is enough for us to know that these
coupons and bonds have not been paid,
although no fault Of ours. Both sense
OF justice and wise regard for our credit
and reputation demand that we should
pay them without delay. therefore re-
SpeCtfully submit the accompanying order
and recommend its immediate passage, in
which ] have the concurrence Of the
Mayor and Finance Committee.
WHEREAS, The city Of Chicago had de.
posted with Duncan, Sherman & Co., Of
n. Y, the funds to pay certain coupons
and bonds Of the city falling due July lst,
1875, u portion OF said coupons and bonds
remained unpaid, therefore be II ordered
by the City Council that the Mayor and
comptroller be and they are hereby au-
thorized and directed to pay all outs tand-
ing bonds and coupons OF the city Of Chi
cago, which have returned previous to
this date. The City Council passed the or
der by u unanimous vote, and Mr.. Hayes
has telegraphed the American Exchange
Bank to pay all the coupons and bonds on
presentation. ,.
PORK PACKERS MEETING,
A meeting ofiho Pork Packers Associa.
tion OF Chicago was held this afternoon
for the purpose Of taking measures to se.
cure representation at the Centennial
Exhibition; the attendance OF the Pack
ers was very large, Mr.. Culbertson in an
nounCing the purpose Of the meeting,
stated that the number Of hogs packed
this year in Chicago, Is two and half
millions and that Of cattle $4,000. Reso-
lutions were adopted instructing the
Secretary Of the association 10 apply 10
the Centennial Commissioners for space
at the Exhibition, to display the ex-
tent Of this branch Of Western industry.
The association will spare no pains or
expense to make creditable shOwingat
tho Centennial.
OCOSNELL CENTENNIAL.
The O'Connell centennial was celebra..
ted here to-day by the Second Regiment,
which held a picnic, and BY numerous or.
CARNATIONS nnd persons who are in sym.
pathy with the work Of thegrcat rcfOrmer,
CROP LOSSES.
The reports that come :" froonl the cen
,rnl npl southo.n portions Of this State,
whorS storms have prevailed Of late, are
80 vague that summary Of losses and
damage cannot be made with any degree
of accuracy. 1t is believed, however,
that the total loss will not exceed $3,00O,-
900, and that a few days Of sunshine will
show that figure to be much too large an
estimate. The corn has suffered greatly,
and it ia stated that hundred thousand
acres of that cereal lying along the iii.
nois bottoms are under water, The wheat
harvest Is nearly over.