davidaulloa/AmericanStories huggingface dataset:
The sun. [volume] (New York [N.Y.]) 1833-1916, 1876-07-03
The Michigan Central Railroad E..

OF the many railroad wrecks that now
strew the shores of the financial world,
that Of the Michigan Central is one of the
most conspicuous. Four years ago Its
owners were getting cash dividends AT tho
rare OF ten per cent. per annum, with oc-
casional bonuses in stock. Its shares were
bought and sold at n high premium. and
were held rs n safe and productive invest
ment by retired men OF business, widows,
orphans, insurance companies, and savings
banks. But since Jan. l, 1873, dividends
have stopped entirely, and the shares
have fallen 10 about nifty cents on the
dollar. According to the report OF the di-
rectors for the year ending May n, the net
earnings for the year were but s2OO0,O00,
from which must be deducted 81, 10000 for
interest on bonded and floating debts,
rents, and other fixed charges, leaving only
100000 to be divided upon $4,000, 600 Of
stock. This would Justify dividend AT
the rate of two per cent. per annum; but
unfortunately remorseless floating debt
has swallowed up even this pIttance, and
the shareholders must wait another year
or two before they will get any money.
The causes OF the ruin OF this once fine
pToptTlS are lWOlOlu. IL utCIcdse III rites
of freight and passenger fures, and an in
crease of charges having preference over
dividends. Ten years ago the road earned,
on a gross business OF a, 446 40l, a profit of
tl,83s lis. This last year, on n gross busl-
ness OF $7,S00,000, its profits were, as we
have already said, only $1,000 900; that is,
nearly twice as much work had to be done
TO earn the same amount of money. But.
TO double the gross earnings, the debt and
other obligations have been increased from
$4,000, 600 In 1866 10 s23, 900 900 in 1876, and
the capital stock from a. 600 600 to so OOO-
600. The Interest and rental account, which
in 1896 was only sGOO,OOO, is now q, 900, 900,
or nearly as much rs the whole net earn
ings OF 1866.
The interesting question for the owners
OF tho concern is, how long the present
state OF things is to continue. Unless
change for the better takes place very soon,
the price OF the shares must fall below
even the present low figure Of 80. rail
road stock that only earns two per cent.
per annum, and does not pay even that,
ought not to bring over rs. Much ls ex-
pected from the recent accession OF SAMUEL
SLOAN TO the Presidency OF the corpora
ton, aud IA Mr.. SLOAN Ia well known 10
have the efficient help OF MOSES TAYLOR in
all his operations, there Is ground for hope
from the appointment. But not even
MOSES TAYLOR can make a business remu-
The sun. [volume] (New York [N.Y.]) 1833-1916, 1876-07-03
The Two Men.

What has HAYES done to lead ANYBODY
to suppose that he will make strong and
wlse PRESIDENT As Representative in
Congress, his career was that of man Of
mediocre abilities. He left no mark on
the House and none of any account on
legislation. 1t was the Congressional ser
vice of man destitute of special fitness
for the duties of n legislator. As Cover
nor of Ohio he has done nothing Of sig
niflcanoe, except stand rs the figure head
of n party ana IA financial theory. lie IL an
nmiable man, we all know; man of iu-
tegrity, we are free to allow; pious man
and a respectable citizen.
But that is not the sort OF man we wish
for President az this time, when both
moral and intellectual vigor are required
In the White House, and great work Of
reform needs TO be undertaken. The
suave HAYES, manipulated by the CAM
ERoNs and all tho Rings of Grantism,
could accomplish nothing for the purifica-
ton OF politics, even though he might
earnestly wish to see things bettered. He
would not know how to go TO work. He
has no clear aud decided ideas on the sub
ject to enforce. He would have 20 work
through the Republican leaders, who are
ADLER and cleverer than he, and would twist
him about as they willed. IL would be the
history o. the last eight years repeated
with perhaps u little more outward ap-
pearance of decenoy than GRANT has
cared 10 keep up. The CAMERoNs, Mon
TON, LOGAN, ZACH CHANDLER, BLAINE, and
the rest, would work behind the helpless
HAYES, and things would go on substan-
TALLY as they do now. Tho Republican
Rings are all hard ut work for him, and of
course with expectations.
But TILDEN il horse of another color.
No one who knows anything about him
doubts his ability 10 run the Presidency
after his own fashion, or believes he would
do otherwise than so run it, He Is not a
mere oPure bead. but statesman OF tried
The sun. [volume] (New York [N.Y.]) 1833-1916, 1876-07-03

The Warn ing to Mr. HAYES.

THE letter of acceptance must avoid
approval or condemnation of GRANTS
Administration, and ought to be very
brief" Such was the injunction which
four Ohio Republican Congressman sent
by telegraph the other day TO MIR. HAYES,
the Cincinnati candidate for President.
Why did they think IL necessary to send
this gratuitous warning TO their nominee
They certainly could not have been afraid
that he would attack or condemn Grant
Ism in his letter of acceptance. He has
never. at any time. said anything against
II. He has consistently RETAINED from ex-
pressing his disapproval OF any of its fea-
lures. He must have seen its wastefulness,
Its corruptfulness, its rottenuess. He must
have known that IL has been engendering
widespread evils, and that IL would prove
ruinous to the country II not brought to
an end. But he has never raised his voice
against II, ms patriot ought TO have done.
He has kept quiet rs a mouse about it, He
doubtless knew that any attack upon 1t
would injure his party standing, put him
In opposition to the party leaders, and up
set his prospects Ct political promotion.
We repeat, then. that the telegraph de-
spatoh was not sent to Mr.. HAYES as n
warning against introducing an onslaught
dpon Grantism into his letter of ac-
eeptance.
The object OF II is clear enough TO those
who understand the proclivities OF the Cln-
cinnati candidate. 1t was to restrain him
from proclaimiug his approval of Grantlsm.
The senders of the despatch were aware of
In, ~ a
done 1t. He would be likely to feel the
obligation to do It again on this occasion.
He was nominated by the adherents of
GRANT. He is supported by the leaders of
Grantism. He stands in the especial need
Of the assistance of GRANT himself. What
more natural, then, considering his ante
cedents, his situation and his character
than that he should seize the opportunity
OF once more endorsing Grantism In his
letter of acceptance?
Why did the despatch sent TO him by the
Ohio Republican Congressman urge him
to "avoid approval" of Grantism Have
these Congressman themselves avoided
approval OF II Have they dealt with il
a. honest and true men ought TO have done
Or have they not rather stood up as cham
pous of the very thing which now alarms
them
Why are they alarmed about Grantisin
In these election timesi They are alarmed
because they know that the people have
been aroused to sense of its enormity
and are determined 10 put an end to it.
Mr.. HAYES, therefore, in getting up his
letter OF acceptance, must be careful TO
heed the injunction, and TO "avoid APP
prevail or condemnation OF Grantism. II
is rather hard on him, no doubt; and Il,
In avoiding approval, ne should offend
GRANT and the Rings of Grantsm, he had
better never have been put up as the
nominee of the GRANT party.
The sun. [volume] (New York [N.Y.]) 1833-1916, 1876-07-03
Prince MiIan,s Manifesto.

The young Prince of Servia, in proclaim
ing war against the Turk and setting his
army in motion, has issued manifesto.
AS might be expected, he holds the Sultan
responsible for the opening of hostili-
ties, while at the same time he
assumes the role of champion of the
oppressed provinces OF Turkey. The Sui
tan has provoked war, says Prince MILAN,
and has threatened Servia, which he has
surrounded with belt OF iron. In truth,
the Sultan has merely been intent upon
checking the aggressive designs of
the Servians, who have openly ex-
pressed their sympathy with the Her
zegovinian Instruction, and who have
called their military forces into the field,
procured large supplies OF military ma
terial, raised money for warlike pur-
poses, and sought the assistance of
the great powers in demonstration
against Turkey. To restrain their a.dor,
the Turks have stationed troops near the
Servian frontier; but the Servians have
been entirely safe from Turkish invasion
or interference while they remained upon
their own territory and RETAINED from
taking the initiative in hostile operations.
The young Prince assumes the attitude
of championship when he says that the
Turks have provoked war by not sat-
isfying Bosnia, which his army enters
in the cause of humanity and nation
atty" 1t is true enough that the Turks
have wronged Bosnia and humanity.
Their treatment of the Christians OF
herzegovina has been shameful, and the
list of grievances there and in other Dor
tons OF the Turkish Empire, IL painful to
contemplate. II Prince MILAN Is able 10
secure for the Christian subjects of the
Turkish provinces that relief from Mos
lem injustice which, IL seems, cannot be
peacefully obtained, he will render some
thing more than sentimental service TO
the "cause OF humanity"
Prince MILAN announces his expectation
OF being joined by the Herzegoviuians,
Bosnians, Bulgarians, and Greeks. Per
haps he has made sure OF assistance
from these quarters before declaring war.
II he obtain II, the downfall OF
Mohammedau power in the Turkish
Empire ID at hand. Lord DERRY recently
said III the British Parliament that
that empire could not be sustained
against general uprising of the Chris
tan population. But perhaps Prince
MILAN has been too sanguine.
II will of course be the policy OF Eng
land, Austria, and Germany to confne
the war TO the territory of Turkey and
Servia; but when once hosulities have
begun, complications are likely to arise
involving powers anxious to keep clear
of the troubles which Russia has been
encouraging.
The sun. [volume] (New York [N.Y.]) 1833-1916, 1876-07-03

and proved ability, q thoughtful student
Of practical government, man who has
proved his faith by his deeds, and whose
messages as Governor Of New York are
valuable contributions 70 political science;
practical accomplishment In the breaking
up of Rings and the reduction Of taxation.
Besides, he is far outside of all Rings, aud
is pledged to the needed reform. There
fore 1t is that the people will reject the
inoffensve HAYES aud take the active,
aggressive Reformer, TILDEN.
The sun. [volume] (New York [N.Y.]) 1833-1916, 1876-07-03

A lady, writing from Hartford, wishes to
know II our Uncle SAMUEL is a handsome man,
and II he IL an agreeable person to converse
with. We gladly answer the questions. Our
Uncle SAMUEL cannot be called handsome man
In the strict sense, though his face beams with
Intelligence and shines with benevolence. Still,
on horseback he IL a very nne-lookina man. lie
rides with much grace, and like NAPOLEON, for
instance. looks taller on horseback TIL on his
feet. As to bis conversational powers, they are
very great. He has mind we'll filed aud the
abilltyt to mako use Of its stores at will. His
dinners have been admirable from the point Of
gastronomy and as fensts Of soul and reason.
His White House dinners will be memorable for
their excellence, and those who are fortunate
enough TO attend them will go away delighted
with our Uncle SAMUEL. He will sustain the
social side Of the White House with dignity, at
liability, and good breeding. n he would only
take a wife we should say he could sustain 1t to
perfection.
The sun. [volume] (New York [N.Y.]) 1833-1916, 1876-07-03

This last amount represents the amount
which can be deducted by the Democratic
House from Mr.. BRIsTow's estimates of re-
cepts and expenditures on the basis OF Mr.
McCuLLccH's calculation of necessary ex-
penses, after all interest and sinking fund
charges have been provided for. Tho
Democratic Eouse, therefore, in its appro-
priation bills, has allowed so740,O0O over
and above the sum estimated by n Repub-
lican Secretary of the Treasury to be neces-
cary TO carry on the Government.
The sun. [volume] (New York [N.Y.]) 1833-1916, 1876-07-03

nerative, when II is exposed TO the oompe-
tition now prevailing in railroad rates
between the East and the West and II looks
az though II would be q long time before
Michigan Central Railroad stock resumes
its place among first-class investments.
The sun. [volume] (New York [N.Y.]) 1833-1916, 1876-07-03

The Herald reports Uncle SAMUEL as
saying that he has no doubt the Democratic
majority In New York next fall will be greater
than in 1874. Neither have We any doubts on
the subject The Reform ticket will sweep the
State by surprising majority. All the indica-
uone point that way very clearly.
The sun. [volume] (New York [N.Y.]) 1833-1916, 1876-07-03

The display in town on the evening be-
fore the Fourth will undoubtedly be very nne,
and 1t en- be enjoyed with comfort, for II will
occur at night hut " this weather continues 1t
will be the part Of wisdom for all who can TO
turn their backs on the city for the Fourth IT.
self They can better celebrate our Centenary
under green leaves and by cool streams than
amid the noise and steam and sitting air Of the
mctropolIs
The sun. [volume] (New York [N.Y.]) 1833-1916, 1876-07-03

Permanent App OPERATIONS ......,...... tiaoG2o $40
But these figures, grouped in this way,
reveal nothing for purposes OF comparison.
Republican bookkeeping has grown to be
one Of those ane arts whose purpose is TO
conceal the skilfulness Of it's contrivanees
The sun. [volume] (New York [N.Y.]) 1833-1916, 1876-07-03

and evidently are proud to take part IN the re-
joicine over the hundrsdth anniversary Of the
republic in which they have found homes aud
political power
The sun. [volume] (New York [N.Y.]) 1833-1916, 1876-07-03

Much surprise has been caused by the
announcement mat Miss Bennett, SISTER u tho
owner OF the Htutd, nas entered the Convent
OF the Sacred Heart, Intending to become a nun.
She haa been In the convent about two we eAs,
Aiss Bennett was oroueht no as u pr ctical
Catholic, and therein she differed from her
father aud brother. Tho elder Bennett was ouly
"nomlnal Cathohc,' ana nis son is tho same.
The sun. [volume] (New York [N.Y.]) 1833-1916, 1876-07-03

Get rid OF one cold before YOU contract an-
other ON top OF II, may securely establish tho
seeds OF serlols lung conpalnt DC ore YOU are CON
Jayne's ExpeotOran effective cute for coughs and
colds, ana helpful aiso Tor healing innuence on line
Iunss ana Droncnia.-Adp.
The sun. [volume] (New York [N.Y.]) 1833-1916, 1876-07-03

The police did not mako any serious at
tempt TO prevent the sale Of the foamng bevcr-
age fGAMBRIHus throughout the city yesterday.
The thirsty way farcrs could be seen quafing IL
athuudrcds Of lager beer saloons. but there was
Interference with the traflc at Jones's Wood,
upon which n slight rumpus ensucd.
The sun. [volume] (New York [N.Y.]) 1833-1916, 1876-07-03

DAuy "a pages. by mail. 55c. a month, or $3.50
fyear, postpaid, with Sunday edition, $40.
SUNDAY u pagesl, 81 40 per year. postpaid
wExkLy u pagcs), 81 30 per year, postpaid
The sun. [volume] (New York [N.Y.]) 1833-1916, 1876-07-03

DAILY AND SUNDAY, 40 cents line ordinary adver-
Using large type. so cents and preferred positions,
20 cents to $780, according to classincsuon.
wKEkLY.-t0 cents hDei no extra charge for large
type. Preferred positions from 10 cents to ~.
The sun. [volume] (New York [N.Y.]) 1833-1916, 1876-07-03

In to-nights Centennial procession the
Germans will he In strong force. as aso the
Irish, while French, Italian, Swedish, and
Cuban societies and military organizatio ns will
join In large numbers. Our foreign cltizena en-
tor with much zeal into the celebration,
The sun. [volume] (New York [N.Y.]) 1833-1916, 1876-07-03

To THE EDITOR or The SUN-Str: Would
nnot be well 10 suggest TO citizens that matter
81 preoautop asainst ro they had bet or Keep their
Laundry aud ba tabs al Oh with water during the day
emu night OF the tth inst7 II H. q,
The sun. [volume] (New York [N.Y.]) 1833-1916, 1876-07-03

Total. t27o iss.eo7 se5ooOO 900 ts7 1851
Mr.. McCuLJocH, in his estimates, pro-
viding for revenue of $500, O00, 900, has an
annual surplus of ESQ 600 IN round num-
bers to devote to the liquidation of the
public debt. The Republicans now re-
quiro that we should add to the class of
permanent appropriations, to which tho
interest upon the public debt belongs, the
sums of:
Sinking fund. ..,.....,...... t3i, o03377
Interest on Pacific Railroad
ttOck. ACKNOWLEDGEMENTS. Bb174lO
Total. ss7eio7s7
Estimated total receipts Tor 1871 ..... $500 100000
CharRcablc aglinet receipts (BRIsrow's
estimated:
an.e,esl 49,, ..............,... th,lbiNS
tiuhiUR lunl, Ocs.ss.l t4ANoTN1
Net ordinary expenses 1sJ,333419- 317i2pO5i
Dencit on Republican estimat e...... ti3t2q05i
Deduct margin Of economy. .......... B5,11S.5s1
The sun. [volume] (New York [N.Y.]) 1833-1916, 1876-07-03
According to Mr.. McCu1Loons standard

According TO Mr. McCULLooH's standard
OF an Increase in revenue going before an
Increase in necessary expenses, we should
not now be at greater cost for Govern
ment than in 1868, since our revenue is less.
The increase in the met ordinary ex-
penses of our Government liz. under an
average Administration, regulated by two
factors-our increase in population and
our increase in wealth. As we have not
increased more than 10 per cent III popu-
lation since 1868, and not ut all in wealth,
and Mr.. McCULLoOH's estimates were made
with gold at an average premium of 80 per
cent, whereas the average premium now
is only IL per cent, it will be seen that no
was very liberal in saying that the net or
binary expenses for the ten years, ls6S-'7s,
fought not TO exceed Sl25. 100000.
Let us, then, try Mr.. BRIsrow's estimates
for 1877 by this standard ISee Book of
Estimates, page l75.]
The sun. [volume] (New York [N.Y.]) 1833-1916, 1876-07-03
YD,nMOMO

Leaving exces. Of receipts IS 900 90 To- be p.
Fl ed 20 m payment OF the principal of the debt II
u e krO~ of the country hOud Increase Of
exp ndures Necessary, hi4 will by the same
cause he provided for by Increased receipts under the
tbue rate OF taxation aud US n 10 10 be hoped tho
teulr increase 81 the reycnues, without an increase
81 Toe re.AlllnR from ue adyance OF the country
u wealth ana population WIN he ueea er hau the ne
essaTy incrcato Of cnses. there viii be cunEtantly
Increasing amount IN addition to that ar,iug from
decrease OF Interest 20 D. annually applied the
men 81 ne deb, II ARE additional expenditures
should be unavoidable they should once OF provided
II L
The sun. [volume] (New York [N.Y.]) 1833-1916, 1876-07-03

Let us group them In another way. 40 that
they may tell the tale Of Republican ex-
travagance:
Esffridtss, ~ CulIochsl Amounts
Hens. 1877. Bsffmdfes. IN hSce@.
The sun. [volume] (New York [N.Y.]) 1833-1916, 1876-07-03

receipts from customs and internal reve-
nueH. t300 900 COO
Buchanan County bulletin. [volume] (Independence, Iowa) 1869-1891, 1876-10-13
Volume Of Currency.


LANCASTER. o., September 27, 1876
To the Editor of the Enquirer:
What was the value of currency June 30, 1878,
by the Treasury statement and what was ii on
August LIST this year? S. c. s.
On the 3Oth day OF June, 1873, the government
circulation amounted to $401 ,527 a67. This is in
elusive of the fractional currency. On the 18th
day of October OF that year the outstanding ma
tional Bank Notes amounted to $341 $50 COL. max
ing total or $743 100 1868 On the 1st day; of Au-
gust, 1876, there were outstanding in legal tenders
1869 $3.50, 020 in fractional crrrency $32 $4,000,
and in National Bank Notes 1926 000,0 coo, IN round
Numbers Cincinnati Enquirer.
The above extract is from leading in
flation organ and our Grcenback friends
will not doubt the correctness of the fig
ures. These figures show but $16,000,-
600 less currency in August last than
when the panic began. This is less than
two per cent Now, have values depre-
ciated only two per cent? Everybody
knows that two hundred per cent would
be nearer the truth. Now if, as Green
hackers claim, contraction Is the main
cause of the past or passing depression in
business, then the contraction and depre-
citation should bear like ratio This is
as clear proposition as one can ask. II
proves that it is not contraction, by long
ways, but other causes, which produce
.'hard times" K w.
Buchanan County bulletin. [volume] (Independence, Iowa) 1869-1891, 1876-10-13
DESTRUCTIVE FIRE.

At about four o'clock this Saturday
morning, fire was discovered issuing from
the northwest corner of the barn and
livery stable of John Klutzbaugh The
alarm was Immediately given, and both
fire companies were promptly on the
ground but the fire had attained such
Roadway that it was impossible to save
the barn or any portion of it. In the
loft there were about fifteen tons of hay,
and the fire swept through this with trc-
meudous Roadway. By. the exertions Of
Mr.. Williams, who first discovered the
fire, and others who had arrived, they
succeeded IN rcscuing all the horses and
carriages, with the exception of one two
seated carriage and sulkey. All the
rest of its contents including harnesses,
hay, gram, lap robes, &c, were consum-
ed. 1t is particularly unfortunate for Mr..
Klutzbaugh at this time, as he had just
been putting in his fall and winter sup
ply Of feed. The origin of the fire is not
known, but there is no doubt that it was
the work of some ticnd. While Mr.
Klutzbaugh will doubtless re-cstablsh
himself, yet this has been severe stroke
to him, and he has the sympathy of every
good citizen in Independence. Ina short
conversation with him this morning, he
expressed himself as truly grateful to
these who assisted by every effort to save
his property Total loss, $1,000. In
surance on barn and grain, 81 900.
Buchanan County bulletin. [volume] (Independence, Iowa) 1869-1891, 1876-10-13

STRANGE Bur TRUE.-Your cough Is
killing you. Is your life worth 20 cents?
If SO, use DR.. Seth Arnold's Cough Killer,
the great eradicator of all Lung Diseases.
1t is superior to all other remedies yet
discovered for Coughs, Colds, Sore Throat,
Whooping Cough, Group and all diseases
of the Throat and Lungs. Price, % cts,
so cents, and $100. Call at Tabor &
Sons Drug Store, Independence, Iowa,
and obtain a bottle. If relief is not af-
forded, money refunded. Two doses
will reltere the most severe case. A sure
speedy, and perfectly safe remedy, prov
ed by trial to excel any other in the
world. Remember it is warranted.
Arnold's Dlarrhea Balsam % and so
cents.
Arnold's Bilious Balsam Mandrake
Pills, operating without pain or sickness.
COMPOUNDED by the DR.. Seth Arnold's
Medical Corporation, Woonsocket, K.
fm6
Buchanan County bulletin. [volume] (Independence, Iowa) 1869-1891, 1876-10-13

DRAMATIC.-The members of the Home
Dramatic Club of Manchester, for the
purpose of viewing our city and trying
the merits of our new Opera House, have
decided to give an entertainment in this
city on this friday evening. The bill
will be the beautiful drama entitled
Among the Breakers" and an excellent
farce The proceeds will go for the ben
eft of the Manchester Cornet Band, which
will discourse sweet music on our streets
during the afternoon. The admission will
be, parqucttc, so cents; gallery, 95 cents.
Children under 10 years of age, % cents.
We trust that all our readers will give
this entertainment a liberal patronage
Seats may be reserved at Ames & Sprague's
without extra charge.
Buchanan County bulletin. [volume] (Independence, Iowa) 1869-1891, 1876-10-13

PERsoNAL.-FrankL Jacobs and wife
returned from the New England States
last week where they have been enjoying
the delights of their honeymoon.
John Laudcrdale, of Sunny Side, in
this county, arrived home from a visit
to the Centennial, last week.
Charlie McEwen, for many years an
efficient clerk in Tabor s. Sons drug
store, took his departure last week for
Chicago, where he will find employment
near his brother, A. A. McEwen Char
lie will be greatly missed by his hosts of
friends in this vicinity, and all join in the
wish that he may be successful in his
new home.
Mrs Judge Tabor, accompanied by her
daughter, Eunlcc, and Mrs. e. G. Little.
have determined to start for Philadelphia
during the first part of next week.