The Cincinnati daily star. [volume] ([Cincinnati, Ohio]) 1875-1880, 1879-11-08

ry in connection with calm and unbiased
anal, sis of the result of tine election in
New York, it may we'll be questioned
whether he is ready to take the forward po-
sition in political funeral processOn.-lt
was the detection of John Kelly that de-
feated Robinson, and it becomes interesting
to note the fate of Mr.. Kelly. If Tilden
was overthrown, it would seem to be a
l. gical conclusion that his most in
veterate opponent, Mr.. Kelly, was success
full. This does not appear to have been the
case with Mr.. Kelly. He was crushed in
the ruins of the temple which he pulled
down on the Democratic head.-"John Kel-
lys newspaper notifies Mr.. Tilden that
lammany proposes to be at the next Demo-
cratic National Convention as a representa-
tive of the true Democracy of New York"
1t would seem that MIR. Kelly's newspaper
recognized Mr.. Tilden as man through
whose veins the life-bloOd still RACES.
The Commercial says: 1t is not without
firm of Jay Cooke & Co. are able to say
that they will get more than dollar for dol
lar for claims against the jay Cooke estate.
Co. suspended on the 18th of September.
of thunderbolt from clear sky, and
took everybody, including Mr.. Cooke him
self, by surprise. Mr. Cooke met the clamor
of the affrighted creditors with the as
surance that if given time he would pay
every one of them dollar for dol ar; that the
assets greatly exceeded the liabilities, and
| that the suspension would be but temporary.
The nominal debts Of the firm were about
SS, 100000, and the assets were estimated
at SIG 000, 900, including block of Sc, 000, 900
of North Pacific bonds. Mr.. Cooke had
fair reason to assure the creditors that they
would be paid, and that the firm, if not
too much pressed, would soon resume.
But Mr.. Cooke did not estimate the
effect on the failure. Panic followed.
There was universal suspension of pay
men by the banks. Those who had
money stored it away, and those who had
deposits in savings banks drew them out.
Confidence was gone; no one was trusted.
Although some seventy-nine OF the
creditors Of the firm were willing to sign
an agreement giving the firm time to re-
treve itself, and many more expressed will
lingncss to do S., the law was such at the
time as to enable any person having claim
of $3.50 against an insolvent to force him
into bankruptcy. Several little suits were
begun, and a petition in bankruptcy was
flied. At the first meeting of the creditors
in January, 1874, Mr.. Lewis was elected
trustee of the estate with a committee of
| five creditors TO assist him. The secured
dlaims, amounting to 81, 800 900, were first
paid off, and the first dividend of five per
cent, amounting to $439, 454 SO, was paid in
January, 1875. Three hard years followed,
years of general depression, decline in real
estate and shrinkage in values.
The second distribution. of five per
cent. was made in the fall of 1878.
Then came the business boom of this year,
with rise in all sorts of stock, North Pa
citil preferred going up from 16H into the
sixties, and other forms of securities in the
hands of the trustee ais sharing in the ad.
vance, TO show that those who have taken
Cookies advice and held on, the following
calculation on $1,000 claim.-the stocks
being estimated at current quotations.
is made:
cash dividends of s per cent S & 100 on