Vermont phÅ“nix. [volume] (Brattleboro, Vt.) 1834-1955, 1879-11-14
Our New York letter.
NOTABLE HORSE sALE-TuE NEW STOCK Ex-
cHANGE-Mn1rARY MATTERs-THE SEVENTH
REGIMENT ARMoRY-HoRRoRs OF REAL LIFE.

tal realized, under $40, 900, was certainly fal
below the general expectation, though prob.
ably those best informed might know the
stock was not the choicest of the wonderful
collection The highest price for any one
horse was $1,000, paid by Mr. Charles A
Dana, editor of the N. Y Sun, an old anC
obliged friend of Mr. Bonner, for Jim Keene
a horse which they say cost 80, 800 Bu
one or two others brought more than $1,000
and then they dwindled very rapidly low
down in three figures. Gen. Withers of Ken
lucky secured the largest number, and tool
young horses invariably, evidently with an
eye to the future.
1t is strange what q devoted admiration
Mr.. Bonner has for fast horses and what ex
traordinary sums he has paid for them, often
with what most people would say, ithout
the slightest infusion of business prudence OF
sagacity. For instance l am told that he ac-
tually paid for colt, somewhere up the Hud-
son. before it was born, to the very hand
some tune of $4,000. Whether it pays how.
ever, TO buy or own such marvels as Dexter
or Uncas, or the fifteen or twenty other per
feet beauties still retained in his stables, Mr..
Bonner makes his business pay, as every.
body knows, and is just as liberal in his con.
duct of 1t as in the purchase of horses. With
his writers he is q firm and constant friend
lie chooses them by their notoriety letting
other people test and try them. When some
lucky day bright reporter strikes n big Bo.
nanza in the shape of n piece of news, which
he renders in way to capture popular ad.
miration, or some forlorn damsel makes ev-
erybody weep with a pathetic poem, Mr..
Bonner at once seeks to open communication
with them and their future is thcnceforth as
sured. Their subsequent work may not be
as good MS their first, but if not up to the
mark of the Ledger it is quietly pigeon-hol-
ed and the authors get their checks all the
same, and when they grow old, or stupid, or
otherwise untitled for the battle of life, they
still experience the bounties of the kindly
publisher just rs he pensions off his old
horses who have done good service or pleas
ed his eye, so he pensions of his poets. Hap
py is horse or poet who feeds at Mr.. Bon
ner's crib
1t has again and again been assert ed that "A
savings bank has no legal right to fail 1t is
supposed to be an establishment for the Gus
tody of the carefully collected surplus of the
hard earnings of poor people, to be invested
in Government securities or others equally
sound. Unfortunately, a great many savings
banks have failed, and it has invariably been
found that their officials have guilty loaned
money in reckless fashion to business or fam
lily connections, plausbly enough arguing
that the interest they get for such loans il
large. Perhaps it is, when they get it, but
rs the Duke of Wellington remarked, "high
interest means bad security" The trustees
of the Bond street savings bank have now
been sued for Sl3O, 900, which it is alleged,
the officers of the bank, over whom they were
supposed TO exercise control and active su-
pervision, wrongfully loaned in very insecure
securities. The public is looking for the up
shot with interest.
Stock speculations have been vigorously
carried on in Wall street, and the brokers
seem to think they are going to make big
thing of it. At any rate they have resolved
on cnlarging their premises, and after con-
siderable negotiation have secured the ada
cent property to the Stock Exchange for the
by no means modest sum of $3.50, 600, on
which they propose to erect a magnificent
addition to their already handsome building.
The artillery of the National Guard have
just closed very interesting course of in-
struction by officers of the regular army at
Fort Hamilton. Squads of officers and non
NoliiLiloSAOlNu blllStib nun tNGl9 bhlltIl III
the State were put through the gun drill as
priyates, as well as in every other position
in connection with their possible future func-
tions. Then in the evenings they attended
lectures on the theory of gunnery. The
progress made and the interest exhibited
have been very great, and the experiment
just concluded has evidently laid the founda-
ton for systematic military instruction of the
hal ~ 10 ,.itiya,, Cp11i.rg -,
unhappiness that we may well pray never to
see again, but the best way to avoid il is to
be always ready.
1t appears our military authorities seem to
think New York by no means sufficiently pre-
pared to resist invasion, and two new forts
are suggested so made as to be impregnable
to the heaviest modern ordnance, while car
rying metal enough to annihilate fleet Of
obtrusive iron-clads. If it is decided that
they must be erected, they will cost an i'm
mense sum Of money, and other military and
naval men think that with our torpedoes and
other existing cOntrivances, We could cool the
ardor of any unwelcome visitors. 1t is quite
n journey across the Atlantic for any ambi-
tious European potentate to undertake with
force enough to hold New York week, even
if he could get in.
The gallant Seventh regiment, of which
New York is SO proud, has managed to raise
among its own members, its veterans and
friends, a very large sum of money but in
spite of the numerous munifcent donations
of merchants, bankers and others who recog-
nize the value of the regiment and owe it
many good turn for services rendered, actu-
al and in the way of prevention, in times of
civil disturbance, the boys haven't got enough
money yet to pay for their gorgeous new ar
mory. This is situated on Fourth avenue
and Sixty-sixth street, occupying an entire
city square, through to Lexington avenue
and Sixty-seventh street, and is an imposing
edifice with towers, drill halls, company and
officers rooms, etc, in the most liberal sup
ply The ladies have rallied to the support
of their ball room and archery ground part
ners, and q grand fair is to be opened in the
main drill hall next Monday. 1t will un-
be a blaze of beauty and fashion,
under the electric lights which are to form a
permanent portion of the fixtures of the great
And, by the way, talking
about electric lights, shall have something
to say shortly as to their marvellous recent
development here.
Thirteen days without food is apt to re-
duce strong man to very light weight.
Such was the fate of a stowaway on one of
the English steamers which arrived at this
port few days ago. On taking out the car
go, breathing skeleton was found who had
sought free passage to this free country.
In utter darkness, without morsel to eat or
a drop to drink, the poor wretch had passed
through unutterable anguish. The packing
cases which encircled his emaciated body
were gnawed all over OF course he died
It was simply impossible to restore strength
to a system so cruelty taxed. This is the sec
ond instance of the kind within year with
the same line of steamships, and it seems as
if some more careful watch at the docks
might prevent the recurrence of such ghast-
ly calamity. Stealing, whether passage, a
pin, or a million dollars is bad, but starving
10 death is a too severe punishment.
The Italian traffic in professional beggArs