The Portland daily press., 1875-07-31
NEW YORK.
TELEGRAPH Generalization.

Telegraph Consolidation.
NEW YORK, July 3O.-Vice President Green
of the Western Union Telegraph Co., said to
reporter this afternoon: am not authorized
the consolidation. believe, however, that the
terms of contract looking to a union have
been submitted to the officers. cannot inform
you whether that contract is acceptable or
whether it has been ratified.
Pulling the Lions Name
An Havana letter says that serious insult
to the British flag has been perpetrated by
Spanish officials at Porto Rico. The English
mail steamer Elder, touching at the port, was
brought to by a Spanish gun boat, and the cap
tain compelled to deliver up passenger who
was accused by them of having violated GER
tain Spanish laws. ayf
Mr.. Beecher Gives up Lecturing.
The World says that under the new manage
ment of the Christian Union, H. w. Beecher
has decided to give up the usual course of win
ter lectures, and will devote most of his spare
time to the building up of the paper. writing
occupied on the paper and free from church
duties he will spend his time in completing his
Life of Christ
New York Banditti.
Ex-police detective Martinal yesterday swore
at the trial of Captain Burden that while act
ing as detective in the 18th precinct he received
from keepers OF various panel houses $75
week each, which he handed to Capt. Burden,
as the price of his liberation of panel houses.
In the case of burglary of lace from the store
of Messrs. Richmond on Broadway, witness
recovered by negotiating with the burglars for
the stolen property, and received from Rich
mond $3.50. which he divided with Captain
Burden.
The Papal Ablegate.
A committee of the Catholic Total Absti-
nence Union of America waited upon the Papal
ALLOCATE, Mgr. Roncetti, this morning, at the
IF To EoCIoc6au nd
ed him an address containing prOtestations of
devotion and love to be conveyed to the holy
father. The address was adopted at a meeting
of the convention held at Chicago, October "a,
1874. 1t was read by the Very Rev. Dean
Bryne, and was suitably responded to by Mgr.
Roncetti.
At a meeting of Roman Catholic pastors last
night, an address to the Pope expressive of the
sense of dignity which has been conferred on
the diocese by the elevation of its Archbishop
to the rank Of Cardinal was adopted. A COM
mittee was appointed to present an address to
Mgr. Roncetti of the Papal Legation, who will
be escorted down the bay to-mOrro on his de-
parture for Europe.
The Failures.
Mr.. Duncan stated Yesterday that at least
fve-sixths of the letters of credit held against
the firm were secured by special deposits or by
note drawn for this special purpose and prop
erly secured, in which the maker agrees to pay
such amount as he may draw against it, and in
all such cases these letters formed no part of
the assets of the firm.
A director Of the Mobile & Ohio railroad says
the road was financially in very bad condi-
ton when Mr. Duncan was elected President
When the interest on the second mortgage
bonds became due, about April last, the COM
pany was not in a condition to meet it, and an
arrangement was made by which the bonds
were taken up by Duncan, Sherman & Co., but
he did not think the money was advanced by
that firm, but from Alexander Duncau,, who
was In Scotland. About this time Mr.. Duncan
was appointed receiver of the road. The whole
bonded debt of the road amounts to little
over $12,000,0O0, and he thinks Mr.. Duncan
holds large amount of these bonds, which he
originally took as security. This alone, how
ever. could not be the cause of the failure, as
they could not cost on an average over 20 per
cent. of their face value. The cause of the
failure, which he thinks will not be bad one,
must be found elsewhere. Cotton has had
something to do with 1t recently, but in his
opinion a very large amount was sunk in the
New York & Montreal railroad scheme.
1t is asserted that Theodore Moss had $50, 900
with the firm; Mr.. Henderson o. Colville had
$50, 900, and VIM. Wheatley had very large
sum. ]. L. Toole holds their paper, which he
bought a fortnight ago, to the amount of $780,
with them, and John Brougham had almost
his entire fortune in the house. John =. Ray
mond and w. R. Florence had letters of credit
from the firm, as we'll as many Of their profess
sional associates abroad.
A. Billings tpresident of the West Side Gas
Company Of Chicago, lost S420, 900 by the fail.
ure.
y. b. Ford q Go.
The assets of j. B. Ford & Co. are stated to
amount to $25o,000 and consist largely of
printing material and stock, besides books pub
lished and in print. These assets the firm es-
innate at their cash value, but it is hardly pro-
bable that they will bring their full value if
sold now.
Their liabilities are given at $4,000. The
creditors are principally business men in New
York. Those outside are Boston firms and only
two or three in number. On September LIST Mr..
Cleveland will become publisher of the Christ
ain Union, with Horace c. King, present bust
ness manager and publisher Of the Christian at
Work, as assistant.