davidaulloa/AmericanStories huggingface dataset:
Wood County reporter. [volume] (Grand Rapids [i.e. Wisconsin Rapids], Wis.) 1857-1923, 1880-09-09
4 Glimpse of Bank Losses.
The New York Times.


No notion is more strongly rooted in
the minds of infationists and the non
thinking than that the national banks
are petted fayorites of the Govern
ment, fattening upon the blood of the
people. Refuting this notion is sissy
phean task, as far as the multitude are
concerned, for whom it is enough to
know that banks have heaps of money,
and refuse to part with it to those who
most need it; but for legislators who
try to settle the taxation problem off
hand, by putting another turn of the
screws upon banks, conviction of the
facts ought not to be hopeless. It is
rather too late for anybody having a
pretense to intelligence to talk of bank
ing as monopoly; neither charter nor
permission is required in order to enter
the field; the law is open to everybody
on equal terms; fixed minimum of
capital and the disposition are requisite,
but there is no exclusion. It should
therefore, follow, that competition
would keep down the profits, and that
there being visibly no especial compe-
tition to get in, the supposition of espe-
cial proftableness IS disproved. But
we are not restricted to this general
conclusion, for if profits are large sur
plus must grow, inasmuch as the growth
of surplus is not left entirely at choice,
but is required by the law at a fixed
minimum proportion of earnings. The
following shows the aggregate surplus,
in case of all national banks, from the
origin of the system:
Wood County reporter. [volume] (Grand Rapids [i.e. Wisconsin Rapids], Wis.) 1857-1923, 1880-09-09

number of banks, brought its owners
nothing whatever. During 1876. more
over, the banks charged off S19,716,000
of losses during 1877, $685. 900
1878, $24, 467, 900 1879, 81, 725, 900.
OF this, S, $685. stands for the oblit-
Grafton of premium on United States
bonds during two and half years. The
total for four years, nearly 100000,
exceeds 19 per cent. on the total capital,
and exceeds by more than 100000
the net earnings from March, 1877, to
September, 1879. These losses have
been distributed in part by charging
them off the surplus, and in part by
diminishing or suspending altogether
dividend payments during this term.
In this city alone the capital of
the associated banks declined $780,
900 in 1876, $10,50000O in 1877,
$4,727, 800 in 1878, and $2,007,70O in
1879, making total decline of $685.
900 in the last four years and $685.
900 since 1872, while bank capital in
Boston has increased s., 100000 during
the same term.
This withdrawal of banking capital
means a reduction of several times
twenty -Gnree m1luOnS 1naD1l1tV TO lend
it is so much destruction of the ma
chinery of exchanges, and is one not
readily repaired, because capital once
driven out of banking by force returns
very slowly to it. Dull times, scarcity
of good borrowers, a stream of losses
by failures, and, piled upon the rest,
burden of taxation relatively much
larger than it was during prosperous
years, have wrought this result. The
tax-rate in this City is just about double
that in Boston. Can legislators see no
connection between this fact and the
comparative movement of banking cap
ital in the two cities ? And now the legis-
lature has given us new tax, laid upon
the outside corporations which have in
part made good the withdrawal of do
nestle bank capital. The result of it
cannot precisely be foretold it's imme-
date effect, together with the rest of the
batch of tax bills, is already to make the
taxation muddle in this State worse
than ever.
Wood County reporter. [volume] (Grand Rapids [i.e. Wisconsin Rapids], Wis.) 1857-1923, 1880-09-09

the Republicans of this city on his
arrival this evening. Gen. Garfield at
the conclusion of the procession spoke
as follows:
FILLow CITIZENS: The spectacle I have
witnessed in your city tonight is far srandel
than any pageantry that can be crea. cd by
anythif 6 except the entLu -iasm and the il cas-
and faith Of men embarked IN a great and
worthy cause. 1t does not Aean any man in
the world. 1t means your faith, your hope,
your purpose. So far as 1 in any sense rep
resent these, I accept your congratulations
with thanks, and l give you sll that is best III
my mind in reply for your magnificent demon
stration am passing up through your city, and
for g few hours stopping, not to discuss politics
not to make speeches., but 1 stopped this
moment long enough to recc gnize your great
meeting and greeting, and thank you for it
with all my heart.
Wood County reporter. [volume] (Grand Rapids [i.e. Wisconsin Rapids], Wis.) 1857-1923, 1880-09-09
Increase.
*Increase.

The figures at the later date are
swollen somewhat by including the gold
banks, whose surplus is probably not
far from 100000. It appears, how
ever, that the surplus, after increasing
up to June, 1875, has been steadily
decreasing up to the past year, during
which it has made gain that is yet far
from restoring the nearly twenty mill
ions which disappeared during the pre-
vious four years. This movement, too,
being a net one, the decline as well as
the increase is the result after sub
tracing from the profits of the COM
paratively few prosperous institutions
the losses of the majority; moreover,
as surplus becomes Immediately part
of working capital, it should naturally
increase on an increasing scale, as
accumulation by compromising interest
does.
But as the law requires only one
tenth of earnings to be set aside for
surplus, perhaps this diminution of the
latter is due in part to excessive divi-
dends. We find that capital stock as
well as surplus has declined from about
$504, 100000 March l, 1876, to $780,
100000 at the present time; net earn
ings during half-yearly periods have
fallen from $33, 1872, 900 during the half
year ending Sept. 1, 1873, to $16,873,OO0
during that ended Sept. L, 1879; divi-
dends have fallen from about $25,000,-
600 for the half-year ending Sept. 1,
1874, to ST., 401 900 for that ending
So,+ 1 1870 Tho rotioc of narniD orc
and dividends have declined thus:
Wood County reporter. [volume] (Grand Rapids [i.e. Wisconsin Rapids], Wis.) 1857-1923, 1880-09-09
Ratios of

The earnings were IO.96 per cent. Of
capital and surplus in 1870; in 1879,
549. Dividends were 8.35 per cent. Of
capital and surplus in 1870; in 1879,
607. Dividends were 1912 per cent.
of capital alone, in 1870; in 1879, 100
The following number of banks and
volume of capital, for the years named.
paid no dividends at all: 1876, 254
and $39,174,000; 1877, 266 and $40, 809,-
600; 1878, 343 and $53,767, 900; 1879,
BOA and $49,210,G00. Thus, during the
four years, 1863, more than one-tenth
of the the total bank capital, distribu-
ted in about one-seventh of the whole
Wood County reporter. [volume] (Grand Rapids [i.e. Wisconsin Rapids], Wis.) 1857-1923, 1880-09-09

A GENTLEMAN who was visiting Gen
eral Hancock's headquarters few days
ago fell into conversation with an ex-
Confederate, and asked him how the
Southern people could support Han
cock, who had taken hand in whip
ping them. The SouUhron answered
8 We will overlook that. We wish now
to lick the Yankees. His sym pathies
are with US, and it we get IN We will
show what we will do"
New Ulm weekly review. [volume] (New Ulm, Minn.) 1878-1892, 1880-06-23

I'll MaCnlne IS delivered 20 you ana
examined.
1t makes the shuttle, double thread, lock. stich,
(thc same on!both sides of the work), which re-
ceivcd the highest award at the Centennial exhibit
ton, Philadelphia, Pa, 1876. And is complete with
i larger assortment of attachments for the fine
work than any other machine, and Reduced to only
325.OO. 1 :
auires the least care, produces every variety OF
work, and will last until the next century begins.
Strong, Simple, Rapid, and Efficient.
ys es IND fsy Sn w HsS will II SHe1 1ns
and outlast any machine at double the price.
Agents sell them faster than any other in conse-
quence of their being ''the Best at the Lowest
Price"
Each machine thoroughly warranted with Writ
ten Guarantee for five years. Kept in order free
of charge; money refunded at once if not satisiac
Its the most solid, reliable and satisfactory ma
chine ever invented for all kinds of family work.
1t is an acknowledged unequivocal mechanical sue
cess, thoroughly tested, and used in thousands of
homes. An efficient, SILENT rapid, reliable, and
ready helper to the weary wife or seamstress,
it will do the work of family for Il lifetime, or it
will earn from 81 to IS per day for amy one who
wishes to sew for living This machine costs less
than half the price of any new machines of like
quality. Hasextra long, large sized Bobbns, hold
ing 100 yards Of thread, doing away with the fire.
qucnt rcwndng of bobbins 1t is built for strength
and constant hard work. interchangeable work :
ing parts, manufactured of fine polished steel Will
run for years without REPAIRS is simple to learn,
easy to manage, understood perfectly in an hour,
aud always ready in moment to do every dcscrip-
ton Of heavy or fine work at less cost or trouble
than any other machines ut any price ever did, or
can do. 1t will sow anything 4 needle can pierce.
from lace Or cambria to heavy cloth or harness
with any kind of thread, and will run of twenty
yards per minute it uses strong, straight needless
and never breaks them 1t cannot miss or drop a
stitch, ravel or break The thread. Hyou have any
other machine, buy this and have Il better one. The
and raDGitV of its work, its hest recon.
mendations. 1t will hem, fell, tuck, braid, cord
bind gather quilt, rutilc, pleat, fold, scalop shrr
roll, baste embrOidcr, run up breadths etc, Will
elegance, ease and Quickncss, unsurpassed by any
machine ever invented.
" Beware of Imposition.
Tho Prices for our new machines are less THAI
those asked by dealers in second hand, rebuilt ant
to close up business, many such inferior and oil.
style machines being offered as new at reduced
prices; beware of imposition and only buy NEW
machines. There are no NEW iirst-class machine
offered as low as the "Family,''bs AMY dollars.
Machines sent for examination be
fore payment Of Bill.
o. Extraordinary inducements offered to Clergymel
Teac hers, Storekecpers, etc, to act agents
Horse ard wagon furnished free. For testimonial
see descriptive books, mailed free with samples @
work, liberal terms, circulars, etc. Address,
FAMILY SEWING MACHINE Go
755 Broadway, New Yorl
New Ulm weekly review. [volume] (New Ulm, Minn.) 1878-1892, 1880-06-23

STYLE "a. >,
1.-Two years ago Obed, almost en-
tlrely at his own expense, for he had
come into possession of his patrimony
then, irefittadj the old church, which,
after all, has come to be fashionable as
well as useful. when. the, suggestion
was made to have tic old church re-
paired Obed made "a little speech, in.
which he said that rather than have a
single man or woman subscribe far
thing beyond what he or she was abun-
dainty able to give, he much: preferred
to bear the entire expense himself; and.
that all subscriptions to the fund mast.
be voluntary, He afterward said to me
that rather than have any person SUBJ
jected to the pain and humiliation that
we had undergone because; of that
dreadful subscription he would wor-
ship in barn to the end of his days.
! 1 often think,if people who solicit sub
scriptlons with a persistence. that:
amounts to insolence would hut con-.
slider the possible harm they commit
that they would ply their business with
nlorei consideration, remembering that
overcoming q good mans sense Of right
and duty is leading him into the temp
tation from which he daily prays to be
delivered. And now I'm through"
concluded my friend, with bright
laugh, only that l wish TO- suggest to
you that if ever. you have an, sObed'
bound for church dedication, you had
better go with him, unless you happily
more abound in filthy. lncre than We
did ten wears aoO. for 0hnd said after
New Ulm weekly review. [volume] (New Ulm, Minn.) 1878-1892, 1880-06-23

We viii always IVA take farm produce in n
exchange for goods, and pay thu. high
est market price for! all kinds of paper
,tases.s! .tas e4I 8x{.i,5r :i,iiuflss<. =
New Ulm weekly review. [volume] (New Ulm, Minn.) 1878-1892, 1880-06-23
The VICTOR
Double Aal1lAR.
l: IR Hi iG / f o. & P i|G iiii

: =. TEII.8l HOW no
Grasgass s1 taH rssM GFoge Il tae Rs,s 1snsr,
1%kE PEND Si6sEX SK 1 TSzE sn f1ARsr:
40 Illustrations. Send for circulars to
J. 9. MoCuRDY f co., Chicago, ILL.,
The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1880-03-07

TOR the superhuman push and energy OF the
American people. their wonderful ami un-
equaled feats Of engineering skill and their
superiority In that respect over every nation
Ia the world. With all due respect to % IL
lustrious an individual, we venture to say
he doesn't believe n word Of what he nttera.
Its learned and difTuaive article In the North
Americda Rerie,v un the subject of de Lea
seps's canal too plainly betr,sys ttla egotiam
and vain gloriousness III the Frenchnan for
zig to give him credit for sincerity Ia his late
professions. NJ published In the New York
newspapers. Tho OfIer to make Grant "hon-
orary president or the company" is another
attempt to Halter Americas national pride
hy an empty honor.
But he cannot thus throw duat In the eyes
of the Intelligent people Of America. All the
chinninv" Ia the world cannot hide tho fact
that he and his associates must have re-
ceived assurances Of aid from some foreign
power in his undertaking. senator Gordon
charges that he has, aud appearances would
seem TO bear out the Georgia senator In hts
assertion. 1t behooves tue American press
than 1t has been doinK Senator Gordon is
clearly right In hts position. He has taken
tho correct view Of this question and ought
10 DO sustained by the power and III Auencs of
the press, as he certainly is by the potent
voice Of thinking people.
Of course this question la Viewed here from
an American standpoint which considers the
preservation and perpetuation Of American
institutions unmenRced and unlntluenoed by
from either monarchieal or eommunistie gov
ernmenta. - lar OutweiHhinx any argument
OF material haneilt, commercial greatness Or
necuntary profit, taking It FOR granted that
the canal would be all that Its advocates claim
IL. IL on that score. TAcHOa.
The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1880-03-07
FOREIGN ITEMS.
End Of the InsurrectiOn in the
Eastern Part of Cuba.
The French Government Refuses to
Surrender Hartmann to Russia
Debate on the Ferry Educa-
ton Bill In the French
Assembly.
FRANCE.

FRANCE. March O.. M. Ducros Aubsrt,
newly appointed French Plenpotsntary TO
Houmelia. has started for his post.
La Civilization. a clerical organ. has been
fluei 1850 francs for Insulting President Grevy
and M. WaddinRton.
lie Temps says: The Russian revolutionary
manifesto publ's he'd here to-day Ia merely the
work Of men Intriguing against and seeking 10
smhroil France In quarrel with Russia.
number OF amneatied Oommun lists have
arrived ut Brest.
In the debate on article seven In tho Senate.
NJ. Ferry declared that ths Society Of Jesus was
a permanent conspiracy ~ d inst tho State.
- LONDON. Ma'eh Ga Paris diapatch snvs: :
The French goverrntnant has. h1ally resolved
ist, arrested In Paris. eharGed with being con-
negted With the MnHo " explosion. and ths de-
cision has been communicated to Prl1oe, OrloT,
petta't from frsnttl territory. He witt trobHtir
he eonduoted to one Ct The channel ports.
whence he vii en'bsrk Az tor Eng, gnelaod 49,.
Mnuravien. Russian Advocate. General. who is
here In connection with the Hartmann affalr,
has teeeived q .yiei from two representatives
of the revolutionary gomnlttne threat eni rs
him with death II he persists In .bis object.
The sena's to-'sy eont,aaea asbate 91 The
a 1 F9fsy 81 pae
tarday. said that the educational books Of the
Jepnlta proved that their ayatem In dangerous
aud hostile tn the institutions Of the country.
NJ. Ferry appealed TO the friends Of the ptino-
pies of the French revolution to rescue the
youth from the II fueDee IT the men condemn.
Ing the idens of modern society.
NJ Jules simon sRid that from the outset he
intended to oppose article of the bill. bnt /.
now became n question OF defending the very
first principles Of liberty, and the country must
know. he Hnid, whether freedom shall continue
10 rrsynil ID Francs or not.
NJ. Simon will make n long speech on the bill
n MDudnv noxt
The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1880-03-07
Now York sugar RefIners In Favor Of q
Change i'm the SUGAR Tariff.

New Yonk March GA numerously attended
meeting OF prominent importers and reflners
OF sugar was held here yesterday and resolu-
tiops adopted strona!y condemninx the action
OF the Committee of Ways and Means for fall
Ing to tai ke action on the sugar tariff question.
A committee was appointed to proceed to wash
inRt' and urge the presentation OF an equita-
bic aud just bill.
NEW York. March &C W. Durant. chair
man OF the. sugar importers and .refners,
which met In Wall street, on Friday last
Committee Of Ways and Ne Mem ms. % at Wash: 81.
inRton, to-day. saying that sixty memorialsts
comprising Il majority Of the sugar ref lners
| and merchants. ask II he. as chairman OF the
committee. was In favor of giving them relief
by some equitable measure. Mr.. Wood tele-
graphed In reply that he was ALWAYS In favor Of
just and equitable measures. whether 1t ap-
piled to sugar refnars or others. and that he
had done 80 In the Case In question. Mr.. Du-
| rant telegraphed back asking Wood If the mer-
chants were to understand that he would favor
immediate action by Congress- for their relief.
as the question was one OF commercial impor-
tance and reply was anxously awaited as 1t
had been reported that he Wood was In favor
of delay.
The following committee was appointed yes
terday In accordance with a resolution adopted
at the meeting Of the sugar reflners on Friday
last: F. Butler. Hen Havemeyer. O good
Welsh. e. P. Eastwck r. Newnall. G. w. Du-
rant. Jr.. and Danford Knowlton.
The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1880-03-07
MARI VI y.
Disasters to Several Vessels from New Or
leans and Galveston.

LONDON. March The steamer Ayton be-
| fore reported ut Hnvre. from Nav Orleans. Ii
she havinx. been In collision with tho Havro
| quay wharf
Tho bark 4. +. Nordman from Galveston for
! Aberdeen. was passed February "A, when tt was
| discovered she had been Abandoned
REORGANIZATION or THE cuNARp STEAMSHIP
COMPANY.
LONDON. March 0.-The Cupard Steamship
Company lltmited). oifers for puplie suoscrip-
shares Of $40 each OF which GO 900 shares nre to
~ fully pntd ana the remaining 10000 shares
arc to pay Iio each at present. The prospectus
In 1878. and tho total capttal Of 81 300 600 was
| then taken and is still held by the manaa ng
owners. Messrs. Canard. Burns aud MeIver.
| This holding would ho returned now, but Tor
the Stock Exchange rules. which REQUIRE that
two-thilds OF the capital Of any public concern
ss allotted ean be to srsntsa nn eaoe 9.
must be paid in fun and tSooo ''ans new shares shares
will be called Immediately. are offered for sub
steamers, The new board OF directors Incl ndes.
| besides the present partners Mr.. Thos Bras
sey. member Of Parliament: Mr. Beyin. of the
iirm q Barclay. Bevn 4 o., Of London, and
Mr.. Thos, Barring. Of tho firm Of Barring Bros.
Messrs. Cunard. Burns and MeIver agree to
retain at least five hundred thousand part
interest In aud continue to manage. the affairs
Of the company. and not to engage In any COM
peting business for fourteen years.
ANEW ORLEANS VESSEL DAMAGED.
LONDON. March 6.-The Jeruaes from New
Orleans for Bristol, was spoken on February a.
She had lost her foremast and bowsprit, and
had her bulwarks stove. but required no as
sfstance,
LEAkY.
LONDON. March 6-The bark yrede. from
Pensacola for Bremen. has put into Oherbou9.
eaky.
CREW SAVED.
LONDON. March 6.-The bark Arctic arrived
at Liverpool on the fourth instant from Will
mington. N. o.. and landed the crew Of the
British brig Manters. from St. John. N. B.. for
barcelona. before reported as having been seen
waterloEKed.
THE ARIZONA INVESTIGATION
The Court of Inquiry. into the collision OF
the Guion Line steamer Arizona with an ice
berg on the seventh OF November last has
found that tho lookout on the ste amer was de-
the captain and second mate for term OF six
months
The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1880-03-07
GREAT BRITAIN.

LONDON. March The Standard says fifteen
candidates were put IL nomnntion for election
M membera OF the Reform Qlnb Yesterday.
been burned and 1000 epiDdlaH destroyed caus
Ing damage to the amount Of 5000. Two lives
were lost.
boiler exploded ia Glasgow yesterday. six
persons we're killed outright and thirty Sc
verely injured.
Parts dIspntrh says. Using Kee Tzss Chi.
neEe Ambassador to France and EnQlnnd has
been instructed 10 proceed to ht. Petersburg.
Tho Marquis Of Salisbury Sserstnry II state
for Foreign Affairs. cHrne to town In the early
part OF tho wetk He has now sufficiently
recovered bis health tp enable him to receive
vteitors and to transact business connected with
the department. and u Ia expected be will
atterd, regularly at the Foreign Office within
u few days.
boiler explosion In Glasgow. yesterday. has
reached t6.
The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1880-03-07
THE DAMAGE AT CLEVELAND. q

CLEVELAND. March "a terrific storm. nc
eompnnied by thunder and lightning. did great
damage here to-day: many Chtmneys. siRna
and trees were blown down. walls toupied. and
several small frame buildings were wrecked.
The Cleveland Female Seminary. on Woodawn
Avenue. wRe partly unroofed, and portion Of
the upper west wall WIS torn off. About 10
young ladiea were sleeping In the institution.
hui mono were Injured. rho roof Of the now
brick wire mill OF the Cleveland Rolling Mill
Company was upifted aud ono Of the walls was
thrown on some Of tho workmen. killing Julius
Brown. and severely inlurlng several others.
SEVERAL PERsoHs sEHrousI4y INJURED Ar IN
DlaNApoIIa.
INDIANAPOLIS Marsh b.~-A terrible tornado
passed over thia city last night. large num-
ber OF houses wore unro6fed. chimneya blown
down. trees uprooted. etc. The Central Avenue
Methodist Church WIS almost entirely dnmol-
ished. dwelling house was lifted from its
foundation and carried five or ak feet: the in-
mates escaped with slight INJURIES Two or
three persons we're seriously Injured, but as far
as known no lives were lost
THE LIGHTNING IN ROCHESTER,.
ROCHESTER,. March 5.-The burial cnsket
works OF y. E Cunningham h Go. was struck
by lightning laat night and destroyed. The
storm WIS very severe.
THE aouTHERN COURSE or THE STORM.
LOUISVILLE, March "a violent storm Of
wind aud hail prevailed here early this morn
Ing. 80 far as heard from no damage has been
done beyond blowing down Of a few fences and
signs,