Lyon County times. [volume] (Silver City, Nev.) 1874-1907, 1876-06-02
LATEST DISPATCHES.
fSpecsa, to the Daily Lyon Cownsy
Timcs.)
Sprine Valley Water CO.

Spring Valley Water Co.
SAN raAxcrsco, June 1.-The or
der regulating the price that the
Spring Valley Water ca. may charge
for water, adopted by the Commits
sioners last evening, amounts to re-
duction Of forty per cent. ON the 6a-
sis of present rates. The Water Co.
refuse to comply with the ordinance,
and will appeal ~ thc courts.
Since the fall Of Spring Valley
Water stock last autumn to ninety
consequent upon the failure of
the sale 10 the city, at which time a
controlling interest WAS purchased by
n few capitalists, it has remined at
about that figure until very recently,
| when it began strengthening, and
| in about ten days reached ninety five.
The Board sale at ninety eight Mon
day aroused suspicion rs to what was
to be the next move; the answer was
given to-day by an official call for a
meeting of the stockholders for June
| 30,h, to increase the capital from $S,-
OO0, 900 to $4,000, 900. Whether this
is to be done by watering or by the
sale of additional shares for coin, Is
vet to be decided. A sale is reported
to-day Of $50 shares at par.
New Bank.
Articles of incorporation Of new
bank in this city, to be known as
the Bank of Commerce, were filed
to-day; capital, $l,O0o,0 900, in l0o,-
900 shares, to be paid in ten monthly
instalments, ten per cent. each; di-
rectors, Sam. c. Thompson, Chancel-
Tor Harrison, E. 5. Sullivan, j. j. Nc
Kiunon, ]. NJ. Wentworth, II. H.
Pearson, J. p. Jackson, G. W. Gran
nice, w. s. Hopkins, James L. Baker
and ID. w. c. Thompson; Chancellor
Harrison is President of the Bank of
Nevada, and S. G. Thompson, Presi-
dent of the First National Bank of
New York, is understood to be a
brother of ID. W. c. Thompson, for
merly Cashier of the National Gold
Bank and Trust Co., of this city.
Rooms in Hayward's Building, for
merly occupied by the California
Trust Co, have been leased for the
new bank. The first instalmeut of
the capital, amounting to 100000.
will be called Immediately. The
bank will commence business about
the first of July.
Anti.Piper.
A .elf-cons,itutcd an,i-Piper Dem
ocratic Committee. To name thirty
one delegates TO Congressional con-
ventiou. met yesterday afternoon,
and after the selection of twenty
members the Convention adjourned
until Saturday next to nominate the
rest. 1t was resolved that the names
Of delegates to the convention he
not published until three days before
the meeting of the same. The move
ment Processes TO have good deal
of strength.
The Board of Transportation Com
missioners under the OConnor law,
consisting al General Stoneman ana
Messrs. Smith and Doyle. have held
y second informal meeting in the city
during the pas, few days, They will
meet at Sacramento tomorrow to
formally organize for the transaction
Of business.
A letter was received in this city
to-day from Germany stating that
Robert l. Betye, formerly State Sens-
tor from tins city, had become Az
sane; he is confined in an asylum at
Wurtemburg.
The Bank Failure.
Los ANGELES, June Judge
Sepa,veda to-day decided in favor
of the demurrer TO the amended com
plain, in the application of Charles
]. Ellis, ct al. to Sc. aside the assign
ment of Temple s. Workman. The
Judge saw but one new point in the
complaint as amended, aud that was
the allegation that Temple 4 Work
man were not insolvent, as il is
alleged their assets were over e. ,00O,-
600, white their Liabilities were only
something more than 81 900, 600. but
rs the assets were not available 10
meet the matured liabilities, Temple
i Workman had perfect right 10
make an assignment. The question
will now probably go to the supreme
Court