New-York tribune., 1878-10-05

spread calamity TO all who put their trust in IT, All
accounts concur in the statement that the Bank of
| the City Of Glasgow was managed in way which
our foreign censors have professed to regard "a
| peculiarly American. Il has, while rapidly march.
ing TO ruin, been IN the habit Of paving annual
dividends OF IL per cent. It actually advanced
nearly S15.000,OO0 to three firms on Indian pro-
duce and Australian wool. Advances 10 firms in the
iron trade were made in the same reckless way
| The note circulation forced from E72.0 600
vi h was ali the bank could legally issue, TO
between fGO0.OOO and 100000. The bank had
been losing credit for years. Yet 10 the very day
of the failure the stock sold Mt a great premium
Now the shareholders not only lose their stock but
each of them ~ personally liable for the debts of
the bank. The dep0siors may be paid their fory
millions of dollars IN This way, but this does not
lessen the distress Of the stOckholders. Nor could
the event have occurred at moment more ia.
OppoFtpBe. when trade so httlc able 10 with.
stand the shock. The failure has created apprehen.
sion in commercial circles of no ordinary character
and men are standing still and waiting for what
may happen next.
Yesterday the New-J.rsey Republicans wisely
completed their list Of Congressional nominations
by choosing the Hon. Frederic A. Potts al their
candidate in the IYth District THIS is the Dis.
trict which embraces Warren County, where the
leading local officials have inst been indicted
for stealing about twice as much
proportion TO the amount within their reach as the
Tweed Ring was able TO get away with. OF conrse.
the district is densely Democratic, and the Hon.
Alya A. Clark, their candidate, is an admirable
sample Of the sort of Democrat who buys OI
bullies his way to the front IN such COM
muniues whenever there is ANYTHING there worth
grabbing Ii may occur to some Democratic farm
money to pay their taxes that this Is a good time to
vote for honest men from the bottom OF the ticket
to the top Mr. Potts'is good man to vote for
anywhere and he would represent with credit any
constituency; and since their own party machine
fails to furnish them with respectable material, II
becomes the Democrats of the district, cSpe Tally
the harl-money Democrats, To display lively sense
of gratitude to the Republican Convention for AZ
foIding them an opportunity TO help elect man
whom they respect, and who respects himself.
Surrounded by his tried and trusty lieutenants IN
Reform, the Great RefOrner of Gramercy Park leans
upon Smith VI. Weed, the pure patriot Of the Albany
lobby whispers Gn cipher to Manton Marble, the
MANUFACTURER of fifty different dialects for the u,e
of people who have doings to hide and hands
confidential dispatches lalso IN cipher to John /.
COyle the savOry patriot Of the Washington lobby,
and to G. w. Woolley, the sanity man who knew
a thing or two about the Impeachment tTIaL And
the country gazcs, rejecting that a Great Reform
under these auspices would have been an extremely
desirable thing indeed In fact. it would have been
worth Danube River Edinburgh Copenhagen"
more OF less, to the coparceneIs.
Several respectable Democrats in coparceny oyera
copy Of The TRIBUNE:
1st Il. D." These dispatches look ugly"
I'd L. D." Blank the fellows; am afraid they
really have sorIc of our secret dispatches
81 Il. D-"But then it Is utterly impossible to
read them, you know"
All (joyfullyl-"O, yes! impossible. That is for
tunate!'
Surprising, isn't it, how Mr.. Tllden and bis
friends gladly court "the bright sunlight of pub
lcityD. Mankind has been pounding AT the door of
No. 10 Gramercy Park for about two years, wishing
information. but tue coparceners within are 80
busy burning up old kilograms that they have no
time to venture out into daylight And to think
that after all, THE TRIBUNE had all 1t wanted
before the burning began!