Iowa County democrat. [volume] (Mineral Point, Wis.) 1877-1938, 1878-10-25

Alexander Bell & Sons, merchants in
the Spanish trade, failed. JAS. Morton
II Co., one Of the firms largely indebted
to the City Of Glasgow bank, placed
their books in the hands of accountants.
Liabilities estimated from $4,000, 200 to
1880, 500.
THE AFGHAN WAR.
A London cablegram of Oct. Dist SAYS:
A special from Darjeeling says It is re-
ported, with considerable show Of
probability, that the Ameer Of Afghan
istan is strenuously endeavoring to eff
feet Il compromise, According to re-
ports Of natives, he is even perfectly
ready TO meet the Viceroy ofPeshawur.
This disposition, however, is attributed
to II desire to gain time. The
government can afford to mcgee
tate, as there is little doubt that all idea
of a winter campaign has been aband-
oned, but only unqualified and
immediate submission will prevent
war, and it is almost HELPLESS
to expect the Ameer to yield to
the requirements of the government,
one of which is, that the command of
the most important strategic routes
shall be placed in its hands. The AZ
ghans at Ali Musjid are now estimated
to number $4,000.
THE GLASGOW BANK ElIBEZzLERS.
A London press telegram of Oct.
2lst says: The whole management of
the city of Glasgow bank, viz: Secretary
managing director and SIX directors,
were arrested Saturday on charge of
fraud. They are confined separately
and rot allowed to communicate with
any person. They all declared they
would have surrendered voluntarily if
they had known they were wanted.
A RAILWAY COLLISION.
A Lcndon telegram Of Oct 21st says
A disastrous railway collision occurred
Sunday at Porty Prdd. Twelve persons
are reported killed and over twenty
seriously wounded. Several had limbs
amputated and more deaths will follow.
LoRD DuFFERIN's FAREWELL.
A Quebec dispatch of the 10Th SAYS;
Notwithstanding the worst storm Of
the season, this morning thousands of
citizens turned out to-day to say fare
we'll to Governor-Gencral Dutlerin who
sailed to-day for England.
4 ROW IN THE HUNGARIAN DIET.
A Pesth cablegram of Oct. Dist SAYS:
AT the reassembling of the Hungarian
Diet Saturday, great excitement was
caused by Deputy Iranii, radical. He1
protested against hosting the yellow
and black flag which he declared SYM
bolized unity with Austria and which
was not recognized by the Hungarian
constitution. He also claimed that as
the members of the diet were compelled
to hear the royal speech standing, the
emperor should read it standing, as the
rights of the throne and diet were equal.
The royal speech, which was read Sun
day, is entirely colorless, rs the ministry
now acting is only provisional.
THAT BAD OLD GLASGOW BANK.
A London cablegram of the 10Th
inst. says The official report
Of the investigations into the affairs Of
the Glasgow bank just issued is worse
than the most gloomy forebodings.
The loss shown III the balance sheet
is f5, 190,9S3. This loss, with the E1,-
100000 capital the shareholders
will have to make good. The
report shows a practice Of
systematic deception. Thus since the
commencement of the year the weekly
returns of the amount of bullion on
hand, which the bank was obliged to
make to the government, so us to show
that its funds were maintained in due
proportion to its note ISSUE have been
falsified by adding thereto imaginary
sums varying from 100000 to 100000.
The directors reports to shareholders
also overstated the amounts of securi-
ties and bullion held in reserve by
f926,764, and 100000 respectively;
and understated loans granted by
f1,126,7G4 The directors furthermore
have been in the habit of treating i'll
balance sheets e. ,345.357 of bad debts,
over half of which is due four debtors
rs an available asset. The principal as
sets of the bank are bonds and shares of
the Western Union railway of the
United States, and scrip of the New
Zealand and Australian land company,
the value of which is
estimated mt f35S, 450 and e97S, S45 res
pectively.
Crowds we're assembled before the
bank and exchange, awaiting report.
A loss of $500 per share is anticipated,
which it is thought half the sharehold-
crs will be unable 70 meet. The re-
mainder of the shareholders will thus
ultimately be compelled to pay double.
A NEW ARMY IN RoUMELIA.
A London cablcgram Of October
10th says: Berlin correspondents
say native armies are forming in
Bulgaria and East Roumclia, and are
under Russian officers, equipped with
Russian arms, commanded III the Rus
sian TONGUE. and number about 10000