Saint Mary's beacon. [volume] (Leonard Town, Md.) 1867-1983, 1877-06-14
$l5,437,32O


MoNErARY.-The Baltimore San $
money article Of Friday, lst inst, says !:
The reduction Of the banking capital
Of the country which is now taking place
Is one Of the most positive evidences Of
the lessened volume Of commercial and
industrial transactions that could be az
forded. II is disccuraging as regards
the extent Of future operations, rs well
as the immediate actives Of the day
Our New York correspondence gave a
list Of eleven banks in that city q few days
ago which have lately reduced their
capitals in the aggregate $17, 100 900,
some being among the Oldest Of their
financial institutions, and undergoing q
reelection Of more than one.hslf the cap
itals in some cases. The same process
OF the reduction Of banking capital is
beginning in Baltimore. The Citizens
Bank Of Baltimore makes known 10 iis
stockholders that It's capital will be cur.
tailed from one million down to half
million Of dollars. The par Of it, stock
10 $40 per share. and the bank will re.
deem o. pay of one half the shares Of
each holder. in instailments as follows |:
July I'd. $3 per share, August LIST s.,
and September LIST -. II has often
been held in times past that our city
was without sufficient banking capital
for the volume Of its business ops raiions
and the enterprises Of the active portion
Of the community, but It 10 fact now
that the banks that We have find diff
Guilty in finding profitable employment
for their money, and SO it lis in other
parts Of the country"
A New DExocRAric DEPARTURE
A New York letter to the Philadelphia
Ledger says the departure Of ex-Gov.
Hendricks for Europe, on the 18th, is
to be made the occasion Of what promi-
ses to be important political develop
ments, foreshadowing the future policy
Of the Democratic party on questions 81
national interest. Mr.. Hendricks will
be the guest Of Gov. Tilden during the
week prior to his departure, and during
that time he will be the recipient Of .
complimentary banquet, to be given. 70
him BY the Manhattan Club, designed
especially to afford him IN opportunity
10 speak On public affairs. As Mr.. Til.
den will be present il will be IN occas.
ion Of unusual interest, and will proba.
bly, mark q new departure for the party
1t large. assn So ~ = tf'a
~ nn~ az "a t- ~
CEN. SHEnIDAK on THE
Phil Sheridan expresses the opinion
that the principal reason Why the Rus.
shane are delayed in their passage oveu
the Danube 10 that they have not ye,
had time to eoacentrate their forces
The flooded condstioe Of the river doe.
not prevent the army goisg over, Blu,
~ soon a the Russian army 10 fully
coaeentrsted they will cross. no mat.
ter what may be the condition Of The
streun. In Russia the great lack o.
railroad facilities prevents the coneen.
traAiea OF large army within q few
weses. 1t requires u least two month.
for them 10 get sesesything in pereec.
readiness for . movement. Dspfomae,
hss not eansed the present delay, Gen
Sheridan says, bot q 10 the natural re,
sa1t q bod ro6ds and the dilseulty q.
Pesieacsa u eaeceatssting their fos.
coss syaa ssstssH r. - 0we
sdisd s-w -~re
/ HoR. RicaAae r. kgaucx.-Thi,
geatleaan hes pusehased the magni6,
cent traet of laad knoWn q The Peter,
estsee. sess Elliest City, Nd. Itiaclude,
asout Tour hundred serss, fsrsy - 6fty