Daily Los Angeles herald., 1878-05-09
Tho Kant. Cours Martial.

OMAHA, May Sth.--Gan. Augur,
President of the Kautz court mar
tial, has received official notification
of his appointment as one of the
visitors to West Point. He will
leave to be at West Point by the
first of June. In the kautZ court
martial, the defendant, General
Kautz, this morning made his ar
gument of defense. It was consid-
cred by those who heard 1t as a
mastery effort. General Kautz
has conducted his case in a very
able manner and has created IA
vorable impression among both
military and civil citizens. The
court adjourned till tomorrow,
when Judge Advocate Barnham
will deliver his argument for the
prosecution. This will close pro-
ceedings here and the court will
then take the case under advise
ment.
Gen. Holabird, who has been Or
dered to San Francisco TO assume
the duties of Chief Quartermaster,
Division of the Pacific, General
Ingalls, being ordered thence to
Chicago, went west yesterday with
his family.
tenn Ordered.
WASHINGTON, May Sth. The
House Committee on Public Lands
to-day appointed subcommittee
consisting OF Patterson, Wigginton
and Walsh to make thorough in
vestigation of the subject of refor-
nation in the present system oil
surveys and methods of disposal of
public lands and report their REQ
ommendation to the full commit.
tee at the commencement of the
next session of Congress.
Exchange Decline.
NEW YORK, May s.-The Public
says: Exchanges at eighteen chief
commercial cities are reported to lis
for the week ending May 4th. 1t
is u startling fact that at every one
of the eighteen cities exchanges
for the week were smaller than
those of the week ending April 81.
The aggregate of exchanges at sew
enteen cities outside of New York,
which report for the week ending
May 4th, was $l52, 1888, l27 against
Sl96, 1926, l52 during the first week
of May last year, decline OF
22.4-10 over the present. Following
are the losses, no gains being
reported: New York, 5 $40; Bos-
ton, IA 4.1O; Philadelphia, % $40;
Chicago, SO $40; Baltimore, 40;
Cincinnati, 26; st. Louis, % 10;
Milwaukee, 80 lilo; New Orleaus,
26 Ito; Louisville, 26 $40; Pitts.
burg, IL $40; Providence, 4 lilo;
Cleveland, II lilo; lndianap-
oils, ? $40; New Haven, 10
2-lO; Syracuse, 40 ITO; Lowell,
% LILO; San Francisco, for the
week ending April 9th, the
same as the corresponding week
last year. The loss at every one of
the Is cities this side of California,
plainly shows great shrinkage OF
business. In explanation it may
be said that the movement in
grain, cotton and provisions having
been very much larger than usual,
until the middle of April, it may
not unnaturally become somewhat
smaller than usual for a time.
Moreover, it was somewhat stimu-
lated at this time last year by the
outbreak of the war in Europe, yet
there remains a very considerable
decline, which we cannot trace to
any other new and sufficient cause
than the one which produced such
an avalanche of bankruptcies last
week. The expectation of the
speedy repeal of the Bankrupt Act,
whether the repeal would work
good or evil in the end, it is GER
tain that the expectation caused
many failures and general disin-
clination to sell on time or to set
tie debts until the condition of bus
mess in future had been deter