The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1880-05-26

fancy stocks, but also Of such wel-known
securities az New York Central, New Jer.
sey central, and similar high-priced bonds
apd shares. The effect OF the announce
ment OF the suspension was therefore more
general and disastrous than 1t naturally
would have been bad the market been
healthy. Philadelphia aud Reading bonds,
which were quoted at 81 on Friday. fell to
o0, while the stock declined from "a TO 10.
AS first consequence OF this enormous fall
tne failure isnnnounced OF the very respecia-
ole 1obber, Mr.. Trovcross, who has declared
himself unable to meet his contracts. The
news of his failure has created the greatest
sensation, inasmuch as he had been con.
sidered one Of the wealthiest aud most re-
spectacle dealers. There are rumors Of
other failures, but settling.day not ar
irving until the 9th, jobbers and brokers
need not declare themselves until then.
Although no names are yet mention
ed, 1t Is expected that some deal
ers will find settlements difficult. The
banks either decline to lend OIL Ameri.
can railway securities, or they charge
such exorbitant rates that they are quite
prohibitOry. Among the railway stocks
which suffered most on Saturday were the
New jersey Central and the Atlantic and
Great Western. New York Central also
was very weak. Il is acknowledged by the
best judges I'm such matters that American
railway credit has received severe shock
in Europe, and the failure is not likely to be
soon forgotten.
The Queens birthday.
GRAND CELEBRATION IN CANADA.
QUEBEC, May 25.-The Queens birthday
olo b.r az n
holiday. business being entirely suspended.
The principal features Of the day was the
grand military review on the Plains Of
Abraham. in the presence OF the vice-royal
party, and which was witnessed by thou
sands OF spectators, many OF them from
Ontario. The weather was delightful, and
the view from the heights was all that
could be desired. Shortly after the arrival
Of the troops on the field, a carriage con-
tanning Prince Leopold, Sir Alexander
Campbell, the Minister OF Militia, Colonel
Mcneil, equerry in waiting, and body in
waiting, came on the ground and proceeded
to 4 raised dais. At the shutting point the
Governor-G General and the Princess, accom-
panied by their staff, arriyeda few minutes
before II O'Clock, and were received by
royal salute. About l O'Clock preparations
were begun for the sham battle. The fight
consisted OF an attack and repulse on the
citadel. After the ield-day the troops FORM
ed in line OF quarter columns, at close in
terval, on the original ground, advanced In
review order. gave royal salute, and upon
the departure Of the vce-roya party the
field artillery fired a salute OF twenty-one
guns. Last evening dinner was given in
the Music Hall by the Quebec garrison and
the citizens Of Quebec to the Lieutenant
General commanding and the officers OF the
visiting party. There were about four hun
dred present.
France.
NJ. LEON SAY ELECTED PRESIDENT OF THE
FRENCH SENATE.
PARIS, May 25.-M. Leon Say was to-day
elected president OF the Senate. Tie re-
ceiyed 141 votes against for NJ. Leroyer,
for NJ. Pelletan, for NJ. Simon, and for
NJ. de Gayardie. There were also 12l blank
or invalid voting papers.
The Berlin Treaty.
LONDON, May 25.-A Berlin dispatch 10
the PdU- Mall Gazette says Germany has
withdrawn her objections to conference
of representatives Of the signatory powers
OF the Berlin treaty; but stlpulates that
definite programme shall be framed before
the conference is called. The powers are
now agreed that If the use OF force shall
become necessary in Turkey, all the powers
shall combine for common action. The last
part OF the above dispatch is probably I'M
true.
Various Foreign Items.
LONDON, May 25.-ThOmas Edward ivy
cross, dealer in the American department.
has been declared a defaulter on the Stock
Exchange.
Clement Coleman d Co., indigo AMI dry
saltery brokers, Mircing Lane, have failed.
Liabilities, 100000.