Evening star. [volume] (Washington, D.C.) 1854-1972, 1878-12-19
BlegramS to The Star,
FOREIGN AFFAIRS.
LONDON Times. Einar~cs.l


LONDON, Dec. l9.-The Times in its tnanciai
article says: There Is good demand for mnnav
maintained at the Bank OF England, seven per
,14h oe.; MAS ~ ueen xngea iof advances IL is quite
abroad that the bank return viii show a further
reduction Of the same. 1t is important in the
present circumstances that too much should not
De ma0e OF the circumstance. it Is due almost
entirely to the unprecedented expansion of the
note circulation at most lnconvenient season
OF the year. At the present moment the banks
IN LONDON more particularly, have very large
unemployed balances, and through their dis
inclination to afford the usual accommodation
the demand is thrown upon the Bank of Eng
land. simultaneously with this pressure Sc
cur1t1eS have been realized TO a large extent
and the proceeds sent into the provinces IL
should be impressed upon those who do not alb
soiutely need money that they only tend 10 az
gravate the temporary stringency by boarding
unnecessary supplies. There is no commercial
demaLd worth speaking OF, and there can con-
sequently be no cause whatever for the con-
tinuance of the exciting tightness afterthe turn
OF the year, provided fresh financial difficulties
do not arise 10 create further distrust"
Depression of the London stock Ex.
change.
The fiaaRcier referring TO the dearession on
the stock exchange yesterday afternoon saws:
The most diSagreeable feature was the eager
ness ShoWn TO catch up and dwell upon the
lumorS or banking and mercantile embarraSs-
mentS. stories OF this sort were rife and seve-
raj establishments were referred TO in a way
that should be prevented If possible The in
eVltaDie tendency Of these stories Is to increase
tne puplc uneasiness and prolong and aggra-
Vate the state of tension" The bills of a firm
In the East Indian trade have been returned.
It's llaDllltieS II Is believed are not heavy
Gladstone a Conditional Candidate.
LONDON, Dec l9.-Nr. GladSlone's Willingness
10 contest EdinburghShire for the louise of Com
mons IS conditioned on the assurances to be
given by the liberal committees that they can
secure his return. The object is TO win that
important seat. Lord Dalkeith. the present
member, being a conservative.
The Long Strike.
LONDON. Dec. ia dispatch TO the Times
from Oldham says: number of mills, princi-
pally the United Companies. have commenced
running part OF their machinery at a reduc-
appeared to look after the mills. The s.piecerS'
engaged In many instances for the "minder5''
Work, nave performed their duties satisfactorily
IL Is part OF the scheme OF the employers to
Oreak down the "minderS'" union by EMPLOYING
"plecerS" TO tend the mills, and thus dispense
with the "minderS" altogether. The following
companies have started work: The Borough,
the Broadway, the Higginshaw. the Bell fhe
Werneth, the Equitable. the Boundary and the
Honeywell In the case of one or two they
have been obliged to commence in consequence
OF large and profitable orders. A scheme has
been set On foot by which the reduction will
remain in allegiance until the settlement OF the
dispute, meantime the money Will be invested
at interest, and If the employers win they viii
draw the money, and rice reysa. The employers
generally will not agree TO such thing, and
demand that the five per centage reduction be
uncondltona!ly enforced. IL is stated that so
bad is trade that they are even prepared, should
the operatives go in upon reduction to run
short time. They are firm upon the question of
the reduction. The strike has now entered upon
its fourth week, and there have been lost in
wages 960, 900, besides the loss of capital There
Is great distress among the labofing classes
ana appeals are being made for their relief
The Manchester Guardian SAYS: Judging from
the tone of thr district meeting there seems to
be every reason to believe that the strike will
continue Ior some time. The districts whose
headquarters are i'm the center of the town have
unanimously resolved to remain out They did
not regard the scheme OF .'trusteeing" the re-
ductlon Professionally as worthy of attention
All the meetings, as far as heard from. voted to
continue the strike, and say they have plenty of
support from the other districts