Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1878-12-09
NEW YORK.
Death.

PoKEEPsIE, December I. john Vasar, many
years nstiousi agent OF the American Tract Soc-
ety. died last evening. He was widely known
over all sections OF the country as "Uncle john"
Personal.
Harry Gennet, who returned some time since,
TO appeal IRON sentence for completely in ring sf
fairs has again fled, ON belief that the decision of
the Supreme Court will be adverse to appeal.
Railroad Troubles.
NEW YORK, d, cember I. II is stated special
meeting OF Chicago 4 North Western Railroad d
rectors was held yesterday, and considered the
commun cation of Mr.. Teuhave of Amsterdam
The latter demsI ded for the Dutch bondho lders
Of the Northwestern Union Railroan Company, q
"proprie,ary road OF the Chicago & Northwest
err, the "hiing up Of their security in accordance
with the terms OF the mortgage upon which bonds
amounting to So 500 900 wereoneg otated in 1872.
This means the building Of l40 miles Of road AS
agreed, instead of less than SO miles, which is all
that has been constructed.
The mortgage pledged one mile of road for
each S25 900 boLds the road built only gives as
security one mile of road for each SO 900 of
be nds. Had this communication been received
one day earlier perhaps dividend ON the com
mon stock would have been demanded
Financial.
Iu the stock exchange SATURDAY. afternoon. a
great depression in coal stocks was caused by r
postpOnement of the question of q Contlnu al ion
Tor 1879, until Dec p, and rumor was ireel,
current that q motion will soon be made for the
appointment OF q receiver for one of the coal CON-
pahes.
Cleatings.
Saturdays clesrings amounted to S., 100000
The SutrO Tunnel.
The stock exchange committee on securities has
placed upon the list of exchange the shares of the
Sutro Tunnel Co. The tunnel is now assured
success. and having accomplished the main object
for , tod iubt haip
quit ed under a special act of Congress-proposes
to continue ITS work by the commencement of a
unncl ito Mount Dav idsop. The great bonanza
mines, situated in the Comstock lode, will soon
make use of this great factor. which saves in the
working OF these mines, yearly expenditure OF
many n illions, estimated in the pumping out wa
ter alone at over 50 900 900. All mines in the
Com-tock district (aud they have yielded during
the last IDeteen years value OF $50, 900,
and additional wa.tage 10 tsilings OF $500 900,
900 will be compelled to pay q royalty to the
Sutro Tunnel OF 81 per ton of every ton Of ore
tractdd. 1t is expected that after the connection
of the tunnel with the various mines, the extrsc
ton Of low grade ones alone will increase to 5000
tons daily. The Tunnel Company owe their wa
ter power aud supply the thousands of tons Of ice
necessarily consumed in the mines.
Failure.
1t is reported that ELEPHANT & Co, China II Ell.
chaut,, have .sllyd for $500
Arrived.
The steamship City Of Santiago, from Yokaha.
hama, via the Suez Canal, has arrived.
Correction.
ALBANY, December 7. AlbaBians who hold
| 81 200 900 of the bonds of the Chicago Il Lake
Huron Railroad, pending litigation. pronounce
| the despatch from Detroit that Vanderbilt had Sc
cured the conlrol Of the Eastern division OF tina
road BY the purchase of these bonds, as prema
ture. They say that negotiations for them are
still pending.