Alexandria gazette. [volume] (Alexandria, D.C.) 1834-1974, 1877-12-20
News OF tho Gay.

The negotiations pendlog between the crcdi
tors of Tennessee aud the Legislature Tor the
settlement of the State debt, OF the basis OF
fifty per cent aud six per cent. interest, are
likely to be terminated to morrow by PROPOSE
ton of Judge John j. McKipnon, who is tue
representative of the Funding Association OF
America Qimitcd) 1t is said that they will
offer to fuod the debt at fifty per cent. in bonds
bearing four per cent interest. This will save
the State two per cant. per annum 90 the debt
provided the boudhodels acquIeso', and eoa6le
the Funding Association to tuod these bonds.
1t is understood that the Funding Association
has capital of $40 O0o, 600, and that 1t i Is
posed of Messrs. Hugh McCullocb, late Sec:c-
.tarv of the Treasury August Belmont Drcxcl,
Morgan s. Co., and Winsow, Lanier & Co
The snalluess of the capital Of the Association
has caused some discussion concerning its ability
to carry out such an undertaking as the fund
ing Of the State debt. r -.
A Chicago dispatch says: Kelley, Morley y
Co.. coal dealers, and II. w. Wetherell & Co..
millinery and straw goods, are reported tailed.
The liabilities of Kelley, Morley & 20. will
reach 100000, while their assets. it Is be-
lieyed, will not realize over or quite 40 cents o.
the dollar. By this failure large number or
eastern firms suffer. The Wethercli failure Is
bad one, though smaller than the former. "A
statement will be made soon.
"A meeting of the St. Louis Board OF Trade
was held last evening 10 regard TO the proprlety
of forming tho Mississippi Valley Trading Com
pany; to charter steamers to ply between New
Orleans and the West Indies and South Am
erica. It is said considerable sum has been
subscribed in New Orleans towards the Com
papy, the directors of which are to promote
trade by making advances on shipments made
by shareholders
The Rev. George Fox Seymour, D. D., Dean
of the General Theological Seminary OF Now
York. has been elected Bishop of tho Spring
field Diocese, created by the Gsoeral Conven'
ten of the Protestant Episcopal Church. The
Rev. DR.. Harris. recently elected Bishop OF the
new Diocese Of Quincy, has declined the cpls'
:copate. :, .. 4srl
George Reed, collector for several ST. Louis
banks was waylaId by two unknown men while
entering the stock yards above that city, yes
terday, aud robbed OF his pocketbOok, con.
tanning $4,000 in drafts and only $50 IN
money. No arrests. .. -. -. .,
William Poor, the young man who Was Bit
ten by dog, near Washington, nine weeks ago,
and who has been suffering with severe at
tack of bydrophobia since Monday morning last,
ulcu yCSlcIuGy luOiulogi dL SiA C'oOhi III WI
WILSON'S
MIR. Edward Crane has projected a scheme
to bui!d'a thirty i1ch wlderailroad on each side
of the entire Erie Canal, and all its laterals, for
towing canal boats aud the carrying Of freight
and passengers at wonderfully low rates.
A boy. eleven years old, 10 Boston, yesterday,
fired revolver at child three years old, caus
ing death. They were playing together, and
the shot was fired because the child scratched
the elder playmate 10 the face. ..-
The keeper Ct the life saving station at Kitty
Hawk informs the Chief Signal Officer at
Washington that a dead body of white mao,
very much decomposed, was found seven miles
north of station No. 5yesterday and buried.
A special dispatch from Lawrenccville, Ills,
states that the Lawrence county treasurer s
ofice:was robbed Of $50 900 on Tuesday night.
There is 20 clue to the burglars.
A dispatch from Cold Water, Mich, says J.
z. Duncan, the abscondng president of the
Pioneer Rank OF San Francisco, is there. Steps
have been taken to svvu.u i.:~
The banking house Of Geo. Baker. at Ches.
ter, Pa, suspended payment this morning.
Mr.. Baker declines to make any statement as
to bis liabilities or assets at present.
A dispatch from the Governor OF Texas as
serts positively that the mob committing tho
butchery was assisted by Mexicans from the
other side Of the Rio Grande.