Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1882-12-23
GATH GOSSIP.

Officers-The Late Trenor W. Park
Andrew ID. White on the German System
of Education-Joe Emmett's Castle on the
Hudson.
NEW YORK, Dec, 22.-Another of the
metropolitan banks has voluntarily
changed from national to state stand
ard, the st. Nicholas surrendering its circu-
lation of S45O,OOO and taking its bonds
back, which with the premium on them
will amount to near 100000, while it can
use legal tenders, silver and gold certif-
Gates and other substitutes for circulation.
The complaint of the directors was that
they did not make dividends enough.
The failure of the Rochester bank seems
to be direct answer to the spectators,
who only yesterday were Wanting the ne
| cesslty of corners in produce and other ne
cessities to help legitemate business. The
| bank president rushing into the oil pool
started by the Standard monopoly, ruined
himself and many of his depositors, and
affected the current tone of depression in
the Christmas business and faith of in
vestors.
The financial distress which may be
caused by the heavy bank embezzle-
ments reported from Rochester in this
state, and from Jefferson, Ohio, is by no
means the only painful result of these
crimes. The confidence of the communi-
ty at large is already shocked by the dis
coEery that some of its heretofore highly
respected members are dishonest. Mr..
Upton, the president of the Rochester bank,
was not only esteemed BY business men,
but he was especially trusted
by churchmen in the diocese of western
New York. He was treasurer of that do
cese. and had the Episcopal funds in his
charge. The cashie-. and the assistant
cashier of the jefferson bank also enjoined
the confidence of their fellow citizens.
Their religious relations are not stated, but
the chances are that they belong to some
| Christian society. In these times of re-
nized that to serve the devil best his fol-
lowers must wear the livery of heaven.
The cable dispatches contain the oppo-
site announcement that the president and
manager of the collapsed Union Generate
of Paris have been sentenced to
five years imprisonment and to pay
fine. 1t is to be hoped that neither posi-
| ton nor influence will avail to prevent at
least similar measure of justice to the
dishonest men to whom reference has Just
been made.
TRENoR W. PARK.
regret that is real. A setter up of jobs and
| profitable fgurer in numerous failures,
which only injured better men, Park will
be remembered in such things as the San
| Francisco failures, the Emma mine, the
Mariposa claim, and the ruin of Pacific
Mail much more than by the labored eulo-
gies written in his praise by the profess
sional obituary class in the newspaper Of
fees. He has lately married another wife
at the age of sixty. As a speculator he
was known as sharp, active and cute
buyer and manipulation, whose operations
were SO clearly and quickly made that he
was generally out of the market before
l
purchase of the Emma mine and its sale
to English capitalists in conjunction with
| General Robert G. Schenck, then minister to
England, for $1O,OOO,OOO, was an operation
which brought him into an unenviable
notoriety and involved him in litigation
on both sides of the ocean, extending over
a period of several years. His friends
assert that he repurchased the property
and held it to the time of his death. He
was director and largely interested in
the Hudson River Tunnel company
which lately closed its gates and ran out of
credit. Jim. Fisk, his fellow Vermonter,
lived a shorter but hardly more rapacious
life. Thirty years ago he was controller
of the treasury.
The owls here are saying that real estate
in New York has gone down 10 per cent.
since election. and that there has not been
SO dull Christmas known in years. I
think this must be mistake, as nearly
every girl has got sealskin sacque, and
I know they are high, and must have been
legitimately procured.
| Andrew White, whom some have spoken
of for president, said last night: "Out of
the industrial developments Of Germany I
suggest one point, as suggestive to our
country, the building up of material in
ternal interests by technical schools, in
dustrial schools and provincial exhibi-
tions. From these are graduated year
after year men who are to become captains
| in the great army of modern industry, en-
gineers, architects, manufacturers. Closely
allied to these are the museums of indus
| trial art. The effect of all these is already
marked. The old glories of the art indus
try of Nuremberg and usburg are return
ing. Here is lesson for us. There should
be founded in every one of our large cities,
and especially in this metropolis an en-
dowed museum of modern industrial art.
The parliament of the new en-
pire is one of the best
del;berative bodies in existence. Its stead
mess, its independence, its dignity i'm
press every thoughtful visitor. The
speeches are of moderate length, and to
the point. There is nothing of that tumb-
ling heedlessness seen in some bodies
1 u