davidaulloa/AmericanStories huggingface dataset:
The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1878-02-01
GENERAL SESSIONS-PART 2.
Before Judgc GiioersIeeve.
A YOUNG DUnGLAR's FATE.

a YOUNG BUuGLAh y FATE.
Early tho morning Of tho ODD OF August last tho
house NO. 100 East Thrtynrst street, and rented by
Elizabeth sterns was entered by burglars and clock
valued ut $500 carried OF tho front parlor a
coiorcd man, named James johnson, arrested the
following day aud being arraigned for trial by AS
sistanI District Attorney Lyon, convicted OF bur-
gary In tho first Degree the prisoner receiving
vi twelve years in the STATE Prison. 1t was SUBJ
scquentiy that another colorcd young
named Maurco WIroy. OF No. i42 West Thirty third
street, WAS nplicated 10 the Affair." having been
on tho morning OF tue burglary assisting Johnson 10
hide The clock III an aeyway near prcmisoa Will
roy yesterday arraigned for trial BY Ar Lyon and
promptly S1nv,csa Of grand grand iarssny from dwelling
tho State Prison Tor eigbs years Mrs. Stcrns, tho
npnant, was n court ana LETT for her house alter
ward III search Of u diamond earring, winch she had
lost which stf valued al 81. AGO. tho sct having
cost coubo that amount Tho article was not found
III the precinct oi tho court
suoEM AKER's FREAK.
Mr. BENJAMIN y. Russell appeared In court ycstcr.
day moved that disposition BIO made OF OF
Christian Borghaus, shoemaker. residing In Brook.
Ign, who had recently been acquitted charge OF
grand larceny tho ground OF Insanity and Tor I'm
he Ind gratuitOusy appeared counsel Tho sed
may be remembered, carried oil package contain.
INA So 100 from the promises OF Urban Knecr, cider
manufacturer, ut No. pa East Houston street, and
wandered to Williamsburg, whore he was arrested,
AL the money having been recovered. Assistant Ds-
tf:t Attorney Lyon snid tie only b.
The matter WAS 10 direct the OF inc fomDs
10 exaniuo the mental condition OF Dershaus ana
port Court Judge Giidcrsloevo Issued oruor
" that elect
STATE Prison BETTER THAN TEXAS.
A package containing S9l5 II was lott GU the table
OF the branch Office vi tho Municipal Gasight Com
pany At No. 052 broadway. by George r. jenkins. tho
collector, whicn hc had received 10 pay the employees
Tnoro was present In tho Office at timo gasnler
named William II. Ralston, OF No. $50 West Forty
first street Mr. jenkins went out Tor few minutes,
and his return Raston aud tho money had ds.
Appeared. Nothing heard vi the matter Tor
time. until superintendent Walliug reccIvod letter
from tue prisoner, who was then In Texas. In this
he offered 10 surrender himself, saying
he would rather be In State Prison than Inv. Texas.
Detective Dorsey Proceeded " Texas aad brought
~ this CITY. Whom arIu gned yesterday the prisoner
acknowledged hts quit. Among the papers presented
" the Court icttcr IRON Judge Wabdeil stating
that hc had known tho accused 10 have borne good
character, anu he believed this 70 10 winch
cnioncy would not be unmertcd. Judge Giidcrseevo
sent The prisoner " tho state Prison Tor Two years.
The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1878-02-01
MERCANTILE DISASTERS.
ONE HUNDRED AND rwENrY-NIxE FAILURES
REPORTED DURING ACKNOWLEDGEMENTS


OVER SEVEN MILLION DOLLARS.
The mercantile disasters reported In this city during
tho past month are tho largest In number that have
occurred In any single month since the memorable
panic OF 1873 There were l29 failures, suspensions
and assignments. In which tho aggregate liabilities
039 aud assets 81 433, 500. The msrchan.
disc liabilities greater than in tho last month oil
the year 1877 In which total about S. 900.
but tho latter swelied by the failures
OF banks, trust companies and defaIcatons 10 tho
amount OF over $4,200,000. In tho number Of
failures thore IL increase OF twenty-nne over the
record for December II will DO noticed that there
WERE numerous failures In tho grocery, drug, hat,
boots and shoes, fancy goods aud produce trades
In the drug trade there was briof panic early In
tho month on account OF tho failure OF Edwin Dun
ming Jr, noto broker, which precpitated tho sus-
pension Of six firms. Twelve retail gsocers. ten
dealers In boots and shoes, four manufacturers aud
dealers In hats vo OF suits and skirts.
SIX produce dealers and Two liquor dealers wore
Obliged 10 suspend.
Tho following Is list OF tho failures reported In the
CITY during tho past month, with the amount oil the
liabilities and assets as can DO ascertaned.
When no schedules were ilod or Information was req
fused cs imates have made based tho reports
NH ed in O trader
The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1878-02-01
NEW YORK HERALD FRIDAY FEBRUARY SUPPLEMENT-

motion for the settlement OF issues TO DO tried BY
jury made by submission, all a0ldavits aud pa
pers therein TO be handed In within ten days. Mr.
Albert Matthews appearea for the ADM illustrators
and Mr.. Clinton tor Nrs- Foshay
The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1878-02-01

burger grand larceny; Same vs. James Gordon, bur-
rary Part 1-Held by Judge sutherland. Tho
People vs. Lasar Shulman and Isaac Edlestein, false
pretences (contnuedl
The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1878-02-01

CONTINUED ON. NINTH. .PAGEl
Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1878-08-10
From the New York Times
Bank Stocks and Bank Profits.

During the present year a fact which has been
unpleasantly brought to the notice OF holders Of
bank stocks is the gradual decline in the rate of
dividends and in the market value of the stocks,
the decline n price not being confined to New
York, but extending to nearly all the considerable
cities, and ranging from to 10 aud even 20 per
cent. OF the City banks, there are fifteen which
have passed year without dividend payments,
aud few have paid nothing for several years.
In the quarter ending the last week in June, the
Clearing house statement shows an increase Of
5000 800 in the surplus of the Is State banks,
more than offset by decline Of S4S7 100 in the
"A national banks; and on looking over the full
list of the City banks, we find that % gained in
surplus and 46 lost, since the year opened.
That most of the tanks reduce their dividends
and some suspend them is not surprising; to do SO
is the plsinest dictate OF prudence, which, perhaps
would better have been followed earlier. There
the past three years not one-hslf, and during the
past year not one third, of the City banks have
earned the dividends they have paid; and when
stockholders thus receive money not earned but
taken from surplus, it is not incorrect to say that
instead Of getting interest on their money invest
ed, they are really receiving back portions of the
principal. During 1876, there a reduction OF
about So 500 900 in the capital of the City banks,
and since then there has been further reduction
of about So 900 900, besides reduction in surplus.
The following shows the percentage Of surplus to
capital in all the national banks of the country at
the dates named:
Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1878-08-10

There has been a gathering Of national
greenback leaders at Washington, and they
are pleased to consider principles. There are
more varieties Of this political organization
than fruits in Fulton Market, and they have
more opinions than there were languages at
Baoel. The Washington variety of national
is not afraid OF third term, and believes in
the release of silver, the issue of government
notes instead of national bank currency, the
payment 81 bonds in paper where coin Is not
strictly stipulated in the contract, cessation
OF all issues of Understanding government
obligations, the building Of one Or two new
Pacific railroads into Mexico If the float
ing opinions of the many-sided nationals crys-
tallize into this particular form it cannot be
alleged against them that they will not re-
move the dull times. They certainly aim at
making the life Of the country a short and
merry one.-Eee York World.
Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1878-08-10
Communism in Ohio.

A correspondent of the Tribune in Ohio says
the Nationals IN that State entertain far more ex-
IRENE ideas than they avow in their platform, and
their real purposes only limited at in such for
NAL declarations. They crop out in the song.
they sings in their meetings, IN the utterances oil
their orators and in the talk Of the members OF
the order. They infected with the notions Of
Communism. Ia fact, what is known as Socialism
or Communism is but an advanced degree Of Ma
tionasm, into which most OF the leaders of the
latter have been Initiated. They mean to wipe
out all debts, public and private, either by direct
reputation or by the issue Of paper money iu
enormous quantities; then they mean to tax
wealth out Of existence, and to seize all railroads,
factories and workshops and run them for the
public good; and finally, to divide the land
among the landless
Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1878-08-10

We publish an article from the New York
Times on Bank Stocks and Bank Profits,
which gives correct idea of the profits OF
banking. We hope it will have candid and
careful perussl We may add that the d.
rectors of the Bank eff New York, the Oldest
bank in the country except one in Philadel-
phia, have decided to call meeting of the
stockholders to vote on proposition to re-
duce the capital stock of the bank from So
OOO, 900 to $2,OOO,OO0 or from 10000 to
10000 shares. The reason assigned for the
reduction is the heavy taxation ON the capt.
tai stock and deposits, which amounted last
year to Sl53, 500, the Federal tax being $780,
404, and the State and city tax, so6,GoS-
equal to an assessment OF 5 , per cent. on
its capital. We have no interest in banks,
but the representations of the greenbackers
in regard to them are 50 false and outrageous
that Justice demands look at the actual
facts in the case.
Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1878-08-10
New Books Received.

|. JET HER FACE OR HER FoRTUNEi A story
BY Mrs Annie Edwardes. Price, 80 cents.
2. A STRUGGLE. story. By Barnet Phillips
Price, 25 cents.
8. MIsERIcokDIA. story b, Ethel Linn
Linton. Price, 20 cents.
4. GORDON BALDWIN, and The FHILOsoPHRR's
PENDULUM. by Rudolph Lindsu. Price, rs
cents.
3. The FISHERMAN OF AUGE. A story BY
Katharine 5. Macquod. Ptlce, 20 cents.
6. Tue HOUSE OF THE Two BARRELS. By An
DIRE Theuret. Price, 20 cents.
7. LIGHTS OF THE OLD ENGLISH STAGE. Price,
80 cents.
All the above are in Appleton's New Handy
Volume Series"
ARIADNE. a Novel. From the French OF Henry
Greville. Appleton. collection of Foreign
Authors" Price. 80 cents.
MR.. PETER CREwITT. by the author of THAT
Husband OF Nine" That Wife of Mlne," &c
Lee and shepard Publishers.
BONNY KATE. A Novel. BY Christian Reid.
Appeton's Library of American Fiction"
ENGLISH GRAMMAR ExEKcIsEs. Morris aud
Bowen. II. Appleton Il Co.
For sale at the book and periodical store of
j. + Pierce.
Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1878-08-10
Ratio Of

Here is nearly unbroken decline in all the
ratios, but most notably in that OF earnings to cap.
ltal and surplus and although the ratio OF dvi
bends should not exceed even if is pc united to
equal, that of earnings, il appears that the de-
cline IN column has oyeitaken and passed that
in column 3, thus proving that the national banks
in aggregate, have been for over two years pay.
my their oCkholders more than their earnings
The reason Tor such payment has been partly the
mistaken idea that dividends indis pc sable to
the continuance of good standing, partly the de.
sire TO escape taxation, and parity the fact that
''they could not help responding TO the agonies OF
the stockholders and the necessities of the case i"
because their stockholders consist largely Of wo.
men and other depe ndent persons" WHO cannot
live in this exhausted state of things unless they
get something out OF their stock" On its face
the decline in all these ratios might be due to al
increase in capital and surplus. but capital aud
surplus have, 10 fact been decreasing. The de-
cline, between 1873 and 1876, in the ratio of earn
ings TO capital and surplus was 2. per cent. IN
New England, 3 2 in the Middle States, 2 in the
South, 2. 3 in the West, and g. q in the whole
country thus indicating the relative shrnkage Of
earnings to be largest in the States where banks
average the largest IN capital and accumulstons
During the half early periods ending March and
Sept |, 1876 aud 1877, the national banks charged
off their books as losses ~, 50l 600, SI32l7 900
81, l76 600, 81, 759 000-sl9,7l90 for 1876,
and $40 1888, 58S tor 1871: this Is equivalent ion
1876, 10 3.92 per cent. of the capital or IA 81 De,
cent. # the surplus, OF 81 per cent. OF capita
and surplus combined; for 1877, to 4. %. per-
cent. OF the capital, Is % per- cent of the sur
llls, or 3. 26 per cent. of both combined. During
the half early periods ending Sept. /, 1876, ana
1877, the figures for the half years ending March
| being not widely different from those } tue num-
Der Of banks and amount OF capi'al paying no
dividends was as follows, given 10 thousands:
Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1878-08-10
Mr.. Frye at Turner \ Hard
Money Democrat endorses the
Sueech

The town of Turner is of the strougholds
Of the greeubackers in Androscoggin county.
Mr.. Frye spoke there the other day, and after he
had spoken, Gen. Phio Clark an old democi ate
war horse, gave his testimony for sound currency
report OF the meeting IN the Lewiston journal
says;
at intended 10 hold the meeting in the
open air, and a stand had been erected aud seals
land IN front OF A. NJ. Smiths shoe factory, but
the shower prevented. The large v,stiy was
packed full and all approaches to II ca DIVIDED and
the crowd eagerly pressed around the windows
outside. w. l.. Bonney, Esq. called the meeting
to order and D. d. Andrews was called to preside
Mr.. Frye WAS introduced aud in II speech OF over
two hours duration. delivered a onvincing aud
mastery argument Tor sound money.
At the conclusion of MI. Frye's speech, Gen.
Clark arose aud said he was not III toe nabt OF
speaking at republican meetings, but lac could not
help thanking tue gentleman Tor his splendid ar
gument for sound money. II eas the good old
democratic doctrine Of ne fathers, q Jegsrson,
Hadas0n, and all the old Democratic statesmen"
lie was enthusiastically cheered Mi. Eyes re.
marks were frequently interrupted with applause"
Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1878-08-10

It is not impossible that these amounts charged
Oh Tor losses as above stated, hre above the pres
eDt rate, and represent clearing away of items
"hich had been carried along in the hope of saw
ing portion Of m; on the other hand, there is
scarcely failure where the losses, commonly said
TO be well distributed" do not hit some banks
The causes OF diminished income do not lie out of
sight The action of the Government in refund
lug has caused large substitution of lower rate
oonus iof the oid siHes, aud the disappearance of
the gold prt MUM has induced the dullar-income
from interest as well as the currency market price
OF the bonds to be counted in assets; and. most of
all, money has been dle for years that the con.
slant problem has been how to put it to any use
WITHOUT mourning unwsnsntabe risk On the
other hand, expenses, particularly t,,e.. have
been almost undlmnished; the latter average to
per cent. on capital. In 1876. the Bank Of Com
merce, American Exchange Bank, and Metropol-
itan, paid respectively 81 $685. s742, and $3.50 per
working day, averaging 4.io per cent. on capital,
Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1878-08-10
Clear the Way

For the escape from the system OF its waste and
debris, which, II retained, woult vitate the bodily
fluids and overthrow health That important
channel of exit, the bowels, may be kept perma
nently free from obs ructioDs by using the non.
gripping, gently acting and agreeable cathartic, Hos
letters stomach BtterS, which not only liberated
impurities, but lnt gorates the lninS Of ht ntestI
MAJ lnal when weaSened by constipation or the
unV lee use of violent purgatives Tne -tom sch
liver and urinary organs are likewise relnf red
and aroused to healthfu nc ion by this benefited
touic aud corrective, and every organ, fiDer mus
Gle and nerve experiences n share OF its tGoi at
ing influence. Unob ject Ionabe in Nav r. most
gen al and Wholesome medlcln Il SUNNI liant and
uwlag its efficacy to Uotanc sources exclusively
it is The m ody best adapted to household use
account OF It's safety, wide scope and speedy &C
fiA
Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1878-08-10
Scion Chase in 1871.

with this sum specie payments can be resumed
at once, and the promise that is written on the
face of the greenback to pay the dollar, made
good. This would give Bill good dollar for his
work. and the wounded veteran good money for
his pension. which is only justice aud far play to
Bill aud the veteran; that is, Bill not only would
work for gold wages he does now, but would
buy his goods at gold prices, and thereby save an
other large item of the S2ji.3i that is pressed out
of him annually. SPECIE PAYMENTS Is
TIE ONE THING NEEDFUL IN OUR PRES
ENT CONDITION, AND WILL CURE Us OF
MANY FINANCIAL ILLS. The moment you
have got specie payments, Peudeton's and Buffers
theory of paying the bonds i'll greenbacks, which
means neither more OF less than more and meanet
money, becomes obsolete. If Congress in its
blunderngs, did not agree TO pay the principal Of
the bonds in gold 1t ought to have agreed 10, and
specie payments will make the sgreeme Mt what it
ought to be. The wit of man cannot devise any
schene tnT will bring about specie payments
other than iedeeming greenbacks with gold; that
is, let somebody else have some good money be.
sides the bondholJers."- ChaSe's "P0or
Mans Trao.' Qf 1871.
Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1878-08-10
A COmmunistic Sensation.

Especial despatch to the Boston Herald
CINCINNATI, o., August s. Considerable ex-
element has been caused here by the develop
ment OF the fact that a manufacturer in this city
is engaged in the manufacture OF large quantity
of hand grenades. An Enquirer reporter called
Oh him to-day. and was informed that the rumor
that he was making them was true. but whe ther
they were for Communists Or not, he said he did
not know. He said he received an order for
10000 from California PARTIES aud he was making
them. and that was all he knew or wanted to
know. 1t is, however, suspected by some that
they are for Communists of this section. \ leutt r
received by AL officer of the Socialstic Labor
party here from tader OF the Communists in
Pennsylvania said that the Communists there
were armed with hand grenades and prepared to
do effective work when the tipe should Come. 1t
is feared thas this system of preparation is spread
ing and that this is the meaning of the activity
in this line Of manufacture.
Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1878-08-10

Hamen and Powers made speeches at Newport,
Saturday night, and the President of the green
back club presided whether money rum in
duced him TO take that course, we have no mean
of knowing, but it is just what may be expected
Of proiessed greenback republicans, generally,
and democrats who have been led Iuto that UrRanl-
cation should get up and get" at ce.-Aaine
Standard.
When the Standard learns of democrat
leaving the greenback organization we hope
the editor Will mako note Of it. Demo-
Gratis find themselves perfectly at home in the
new party; while honest republicans, like
the president of the Newport club, abandon
it as soon as they become enlightened as
to the doctrines, the tendencies and leader
ship of the greenbackers.
Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1878-08-10
Bonds and Greenbacks.

VIII somebody please tell us why bondholder
should have been paid in gold aud the soldier in
greenbscksi We want to know the ground upon
which such distinction was made. Also why the
boDdhoders' present insolent and avsrcious de-
maud for gold should be reg srded. "-NeW Era.
Perhaps the answer Of Horace Greeley to
those who claimed in 1868 that the Five
Twenty bonds were payable in greeubacks,
may serve to throw some light upon the above
question. "A ready answer to this cavil
''suggests iteslf," he says, "when we consider
"that nobody supposed or imagined, when
"the Legal Tender act was passed, that any
difference in value between coin and lawful
"money' would exist when the principal of
'sthose bonds should fall due. legal Ten
''der' was reluctantly adopted by Congress
"as temporary expedient, designed in no
"case to outlast the heavy requirements Of
"actual war. To have stipulated in 1862
"that bonds due after 1866 should not be
"paid in deprecated Taper, would have
'.seemed as absurd as to enact that snow
"banks and ice-cakes should not be allowed to
"encumber our harvest fields next August"
As to the "bondholders' present insolent
and avaricious demand for gold" of which
the New Era speaks, it will not be very
troublesome after resumption, for then green
backs will be as good as gold, and just as de-
sirablc by bondholders as the com itself. The
very way to do away with the inequality
hatwean graen hacks and coin il IN rasuma
specie payments.
Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1878-08-10

so that. to pay their dividends at the rate of that
year, they needed over II per cent. income On
their capital without counting working expenses
at all. Since then the former has cut down its
$40, 600 600 capital one-half snd the latter its
1000 600 one-fourh in the effort 10 liz hten tax
burde ms, and reductions of capital and surplus
both, by voluntary act on, have been general.
The foregoing review is not intended to suggest
that the banks are IN a bad wsy. Ii is simply
not for Mr.. b. r. Butler aud his friend
kearney the one of whom Is a dishonest. aud the
other possibly an honest denanciator of banks
but for other bank hsters VINO have not thought
at all beyond the visible fact that banks have
plenty OF money which they refase to part with
without security, TO provoke reflection on the
clsmor against backing "monopolists," and all
capitalists Is consumer, Of prosperity that ought
to be divided fairly among 'the people"
Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1878-08-10

We have received from Leo Miller copy
OF an open letter to the Rockland Free Press.
IN relation to his ''ciyil and conjugal con-
tract with Matte Strickland, with request
to publish the same. As we have already
published as matter OF special interest to
our readers his card to the Bangor CONNER,
ciai' which Is substantially the same as his
open letter, his wish is granted before the re-
quest was made
Mr.. Miller seems to be very much like the
girl who had the itch and said she was
ssproud to own It,"
Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1878-08-10
Boston stock List.
Chicago Produce Market.

CHICAGO august y 1877,
FLOUR-ENtra spring 4uaj.LO. western 40
southern %.
WHEAT->o Red WnterIl0!; No. do, 100
cash; August yj4 september 90 No. } Caicaso
Spring old TO-; new giA. cash; August, $50 sept.
965s No. 3U.sl-; reected ~
CORN Sales regular, -; cash -"3Jia Au.
gust, 39ia a.; sept. 39's L.; Asd, 49,. rejected,
Ss
OArs-Cash 2!'aa-; August, 22'. september
12'..
kYE-50h.
BARLEY-sl4s
DRESSED HUGS-illa4.l2h.
PORN Cash l050aO.O0-; August, 10 40 al0 IS;
Sept. lJ!0.
LARD Cash 7.6O- a7.65-; August, 767Ka-;
Sept 1917.
BULK MEATS Shoulder. .a0-, short rl
side "a 40; short clear RIB %. Az clear side-
o.. a6'4.
WulSkEY-lO5.
"a cents
Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1878-08-10

1t is announced that VOORHEES, is expected on
the stump in Maine, to speak in favor of the
gIeenback cause. II the report is true, the re
publcans of the State have reason to be thankful
The stuff that Voorhees, talks will be about pop
ular among the harl headed citizens OF Maine A.
keainey's mt etings are among the contented Ia
borers OF Massachusetts,. - Tribune.