Fayetteville observer. [volume] (Fayetteville, Tenn.) 1850-1966, 1877-05-03

Our New York Letter.
TWeed's BOmbshell - Gov. Nor
gan's Insurance Report--Amuse-
ment Difhculties-A Scene not
on the Bills-Borsen's Rage.

AAcHO OAncu1IieS--A scene mol
on the Bills-Borsen's Rage.
To the Editor of the Observer
New York, April 20, 1S77.
News has doubtless reached
you regarding Tweed's revela-
tions, synopsis of which was
published here early this week.
This confession had been long
promised, and when it came
there was a general ducking of
heads all over the city and State
something similar to that which
took place in the old Scotch
kirk whose pastor one morning
broke into his discourse with
the sudden announcement that
he was about to throw his
prayer-book at an unfaithful
husband whom he saw in his au-
dience. The full particulars
are not known yet, the docu-
ment remaining in the hands of
the encouragement, pending
his consideration Of the propo-
sltion that accompanied if,
namely, that Tweed is to be
set free, and to be insured
against further prosecution, on
condition that he produces his
proofs of the allegations of his
so-called confession. If this is
rejected by the government the
old Spartan threatens to relapse
into his clam like silence. E.
nough has already leaked ont
however to furnish material for
numberless suits and investiga-
tions, the latter being loudly
courted by those whose names
are. found in the statement pub
llshed. Queer thing, thatl
Tweed is known to have stolen
millions and to have distribu-
ted his booty widely and freely X;
and yet you may scrape the
State of New York With a fiue
tooth comb without finding a
man who ever took one of his
ill-gotten dollars. Here for in
stance are ajudge on the bench,
the editor of a prominent New
York journal, and a "reform"
leader in the Albany Legisla-
ture whom Tweed claims as ac-
completes, and now the torrent
of their virtuous Indignation is
a sight both grand and beauti-
full to behold. Well, we shall
know more about it later.
The climax of the life insu-
rance proceedings which I have
noticed from time to time has
at last been reached in the pub
lication of the long looked for
report of the committee appoin-
ted to examine the Equitable
This young giant of compa-
ny which in its eighteen years
of existence has distanced all
coeval competition, has for some
time been the real focus of the
blows aimed from all sides at
the life insurance interest. Jeal-
ousy, like death, loves a Shin
ing mark, and as consequence
a number of lesser corporations
have for many months sought
in various ways to undermine
public confidence in their too
rival, and to iniure
its business. To remove any
doubts concerning its condition
which might result from such |
attacks or from the general dis
trust occasioned by the failures
Of last season, the officers of
the Equitable in January last
made the request Of nine New
York business men of the high
est standing, headed by ex-
Governor Morgan of this State,
that they would act as a special
committee to probe the affairs
Of the society to the bottom.
and ventilate every corporate
lct of its life. The commits
sion was accepted, and three
months having been given to an
nnsparlng scrutiny of its ac-
counts and condition, Tie results