The Redwood gazette. [volume] (Redwood Falls, Minn.) 1873-1940, 1877-09-13

GENERAL.
The Illinois State Savings Institution,
at Chicago, suspended business ON the even
ing Of the 2Sth, and made an assignment to
Col. Abner Taylor. Its liability to $4,000 de-
positors is nearly q, 900 900, andits assets are
said to be nearly valueless, although nomi-
nally equaling the liabilities. A statemen
Of the banks condition is promised as soon
as an examination can be made.
The editor of the Madras Times, mera.
Der Of the Relief Committee, writes, under
date Of Aug. 1, that one-sixth Of the popula-
ton of Southern India will die Of starvation
A Washington Associated Press dispatch
Of the 29th says information had been re-
ceived that Sitting Bull, with 800 braves,
had crossed over into the United States from
Canada, and that all proceedings for select.
ing Commission to negotiate for his sur.
render had been abandoned.
A terrible accident occurred on the Chi.
cago, Rock Island & Pacific Railroad. nesl
Des Moines. Iowa, ON the morning of the
10Th, which caused the loss of over
twenty lives, and injuries to nearly
fifty other persons. A sudden rise
undermined the foundations of the rail.
road bridge, and portion of the structure
had given way during the night, leaving the
rails in position. At half-past two in the
morning, when the west-bound express
train struck tie bridge, the engine, Barnum'a
advertising car, the baggage, mail and three
passenger cars were thrown into the waters
below, and almost utterly demolished. Up
to the night Of the 10Th, eighteen dead bodies
had been recovered from the wreck, and be.
tween forty and fifty other persons had been
found to have been more or less injured.
The Iowa State Democratic Convention,
which met at Marshalltown ON the 10th,
nominated John p. Irish for Governor; W. C.
James for Lieutenant Governor; H. ]. Board.
man, for Supreme Judge, and G. D. Culleson
for Superintendent of Public instruction.
The platform favors q revenue tariff; the
immediate repeal of the Resumption act;
opposes further contraction and favors the
retention of zreenbacks and their substitu-
ton for National Bank bills; congratulates
the country upon the acceptance by
the present National Administration OF
the Constitutional and pacific policy
Of local self.government in the Southern
State, SO long advocated by the Democracy;
declares that Tilden and Hendricks were
duly elected President and Vice. President;
favors q repeal,of the Prohibitory Liquor Law
Of the State; declares that the rights of cap.
ital and labor are equally sacred and alike
entitled to legal protection, ETC., etc.
The Chicago Inter State Exposition wa
formally opened ON the evening Of the 10th.
The excitement over the failure of the
State Savings Institution, Of Chicago, con.
tinued, on the 80th ult., and the street on
which the bank is located was filed by large
numbers of dep0sitors, whofreely commented
upon the swindle which had been perpe.
trated upon them, and threatened summary
vengeance upon the abscondtng President
and Cashier, should they put in an appear.
ance. The investigation, 90 far - it had pro.
gressed, showed that the depositors had
been systematically and numerically
robbed. The whereabouts Of Spencer and
Guild remained q mystery, and Buckley
the Assistant Cashier, who had much to de-
with the management of the bank, had also
left for parts unknown. It was believed that
dcpositors would save little from the wreck
The daily papers are severe In their structures
upon the management Of the bank. Runs
took place ON other savings banks, but con.
fdence seemed to prevail in business circles
that they were sound, and that no further
failures would occur.