Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1878-10-03
THE OLD WORLD.
GENERAL NEWS NOTES FROM ALL
POINTS.
lest Since 1857---Liabilities $4,000, 900
Failure of Negotiations Between Ger
many and the Vatican--- Ravages of Chol-
era in spain---England Preparing for a
= Winter Campaign in Afghanistan.
HEAVY FAILURE.


stated to be s50,OO0,O0O. The liability of the
shareholders is unlimited. One hundred pound
shares of the bank were dealt in yesterday at
over 9200, and within at e237. The bank was
established in 1885, and has from fifty to sixty
branches. This is the heaviest bank failure in
Scotland since 1857, when this concern also
suspended. Other Scotch banks were asked
for assistance, but after examining the books
at a meeting yesterday refused to do more than
redeem the note circulation of the City of
Glasgow bank, which is stated at 49, 250, 900.
The failure has caused great excitement
| throughout Scotland and in the London stock
exchange, where there fall in Scotch
railway securities in consequence of the pres
sure of Scotch holders to sell. The failure of
the bank is generally attributed to it's resources
being locked up in bills, shares and debentures
of various kinds that were not readily convert
ible.
The failure is very important-not less than
national disaster; but as usual in such cases.
it has been foresLadowed in innumerable oc-
currences. 1t is hardly likely it will do more
than bring down the commercial firms which
are involved in the bill transactions which have
overwhelmed the bank.
The failure is believed to have been in con-
| sequence of large advances on American secur-
tiles in grain and real estate, the values of
which have largely deposited.
A dispatch from Glasgow states causes of the
failure of the City of Glasgow bank, are re-
ported to have arisen from an advance of
E6,0O0O00 to four firms of East India
merchants who have been unable to meet their
engagements. Much sympathy is felt
for the unfortunate shareholders of
the bank. Much stock is held
moderate competence, and now find themselves
| reduced from circumstances of comfort to alb
| solute poverty. Seven hundred and fifty per-
sons employed by the bank and it's branches
are affected by the failure.
TO BE SURRENDERED.
RAGUsA, Oct. 2.-The Prince of Montenegro
| has ordered the leaders of the old Herzegovina
| ian instruction, who have been hitherto in the
pay of Montenegro, to proceed with their
bands the 9th of October to BiIck, where
the Princes father-in-law will formally sur
render them to the Austrians.
WANTS QUIET.
BERLIN, Oct. 2.-The North German Gazette
has a significant letter from st. Petersburg
saying the keynote of Russian policy is tran
guilty, on the basis of the treaty of Berlin.
| and that Russia will not support the enterprises
of Afghanistan.
GERMANY AND THE VATICAN.
LONDON, Oct. 2.-Emperor William upon his
return to Germany will Issue his proclamation
announcing the failure of negotiations between
Germany and the Vatican. Prince Bismarck $
ultimatum of obedience to May laws was re-
fused by the deposed bishops. in letter adj
dressed to the Pope. The Bavarian and Aus
TRAN nuncios have been instructed with
confidential mission to Prince Bismarck, but
no hopes are entertained of their success
Germany will concede nothing, and the Vatican
cannot yield all without alternating it's most
faithful partisans. A dispatch from Rome
says, Archbishop Jacobine, Papal nuncio at
Vienna, will proceed to that city by way of
Geneva and Munich. At the latter city he will
deliver to Monsignor Wosella, the PapaI nun
clio, their instructions respecting the negotia-
tlons between Germany and the Vatican.
PASSED ITS SECOND READING.
BERLIN, Oct. 2.-In the parliamentary COM
mittee the Socialist bill has passed it's second
reading in all essential points the same as
after its first reading. The committee even
retained the two years and half of time for
the operation of the bill notwithstanding the
objection Of Count Won Gutenberg.
REFUGE IN sERvIA.
BELGRADE, Oct. News from various parts
of Bosnia, shows that the Turks and insur-
gents have abandoned further open resistance.
having become convinced that neither moral
nor material assistance can be any longer hoped
Tor from the Porte unless other political COM
plications arise. Upwards of 1900 insurgents
fled to Servia where they have been disarmed
ouu 1uGeEueu. Cuem are TWO paSDaS, ZUU
beys and whole battalion of Nizams. They
brought with them three Krupp guns, thou
sand breach-loading rifles, horses, stores, etc.
Small bands cross the frontier daily with their
wives, children and property.
CHOLERA.
MADRID, Oct. 2.-The board of trade declare
that the three cases in the hospital here, men
toned in the city newspapers, are not yellow
fever. Advices from Casabianca, Morocco, re-
ports 800 deaths there from cholera out of a
popu lation of 1000 between the 18th and 10Th
of September, and from sixty to seventy deaths
daily at Fee and Mequinez.
THE AFGHAN1srAN TROUBLE.
LONDON, Oct. "A cabinet council will be
held Saturday, probably to discuss Indian af-
fairs. The Daily Ne1ps in its leader says it is
probable that the advance of the army into At
ghanistan will be postponed until November
lst, so that we will only be able to get as far as
Jellallabad before winter thoroughly sets in.
| MISCELLANEOUS.
| LONDON Oct. I'm view of the possible
winter campaign in Afghanistan, the imme-
date dispatch of bedding and extra clothing
for troops in India has been ordered.
| A Vienna dispatch states that the emperor
has accepted the resignation of Her Sell, Hun
garian minister of finance. He has not decided
about the other designations. A compromise
is considered likely. The admiral of the East
India squadron has been ordered to send q
number of ships into the Persian gulf.
| LONDON, Oct. 2.-The rlnderpest has made
| its appearance in NOrthum berland.