Seattle daily post-intelligencer. [volume] (Seattle, W.T. [Wash.]) 1881-1888, 1884-05-11
EASTERN NEWS.
..oc,.rsD pREss DlsPArcHEs
-. philadelphia Yarn.

ss9OCi Al 81
..,ser philadelphia Tara
n,,pH1l, May s.-A New York
fs.,o the Press says: President
F<lss and several directors urge the
Hes,is of the Cascade branch from
beilalnse 10 Tacoma, Seattle Or some
kinsso:n. on Puget Sound within i've
ebff Psaciarinp the Northern Pacific
ysfs 20 4 complete road of its own,
NO. ~ portland is not seaport, and
go ~ ',.nhia bar il nov very formi-
Ne ossssacle TO commerce. The other
dtbis ~ nose. on account OF the enor-
d;feco. of the branch. and be-
sos ~ Columbia bar can be remov-
bednGE: ns,d has looked very carefully
u. " snbiect. and states that the
go objection TO any poin' on IuRe'
ensa a. = terminus was the prevalence
sou - heavy fogs SIX months OF the
o. 80 which seriously interfered with
ssds. Under existing circum
nsu n in doubtful il the Cascade
ssn r,Il be built for great while.
blases .ohsbiiity is that the Northern
Ihe lii lease the Oregon Navigation.
~ ,s.s secure its part of the road as
an
tksir ovn.
Applying the Lessen.
yorx Nav l0.-From the T,fb-
Me- This morning: A meeting of the
sxm .,.sse appointed by the Clearing
sssociation to report such amend
nsu - the constitution and bylaws as
nsns sssnt a recurrence of the case of
~ s,;ne and First National Banks
sns lid ia Yesterday. The commi tee
~ .,.,ad Of Fred ID. Tappan, Ch,ir-
eOT Jacob B. verney, g. q. Williams
49, ismes ID, Woodward. President
~ - r Baxter, of the First National
.nneared with consent. He pro-
49, 49, sesinst the First National Bank
s.;no held responsible for the x2I5.OoO
liz Of worthless checks drawn on II
ss.hs Marine Bank. Ferdinand Ward
"a only 1890 to bis credit in the bank.
ess - 80 ARMED that this course placed
y, P;,si National Bank at great dis
.sssntsoe. In fact, If this thing were
$3.50 anv bank would be at the mer-
~ any enc of its depositors, no mat
Iau ANAL his deposits. who could
- snosher bank to accept his checks
sroe amounts and thus send them
.s.asah The Clearing House. The only
1870 way. il was argued, was to assess
- smount drawn by Grant d. Ward on
- First National Bank pro rota on all
- hanks in the Clearing House Assoc
.,stioo. The members of the commit
- cave their views on what was neces-
ssrv 10 be done to prevent, as far as
aoss,bIe. the recurrence Of a case like
-, from which the First National
Rsnt had suffered. Requiring that all
$500 above a certain sum be certified
- enooested az one means to lessen
-. ~ So much of the business of
a. eity and country, and especially of
Val street.. Ia done on credit that Il
.ss thouoht advisable to move slowly
= the matter. The individual case of
- First National Bank against the
Tsr;ue Bank, it was decided, would
have 70 be disposed OF by the Clearing
Houss Association. The matter was DIS
cussed at length. The COMMITTEES will
meet again on Monday. Nothing de-
uite has been determined upon. Many
lard things are said of Fish.
A depositor, whose place OF bust
nsss a within sight of the bank,
aid 70 q reporter Of the Tribune
that much comment has been caus-
Al by the fact that Fish had so
larns number of visitors IN his private
rooms over the bank, especially In view
a tbs character of many of them.
have said he, {" seen six or seven per
soma such as speak of, go to his rooms
10 ons day."
Bird W. Spencer, Treasurer of the
Erie Company, said last evening that
when be left the Office OF the Erie road
be knew Of no depreciation in the value
# second mortgage bonds. Informa-
lion had not reached him. At least, If
there was any falling eff, il WAS a Wall
street matter and had no substantial
basis, because the value Of the property
vas unaffected. Any decline was not
dus, In bis mind, TO the fact that there
vas balance of money in its favor at
lhs Marine National Bank. Spencer
added that President Jewett has made
bic official statement that less than
$1,000 Of the cospany's money is In
the hands of the bank, and he declares
that be has no fear of the safety OF the
funds. No nnfavorable effect is TO be
anticipated from any possibility that
the interest in June ON the second mort
cage bonds will not be paid. No meet
ing Of directors regarding the passing
Of the June interest has been held, and
hone will BE- held for that purpose. As
sure as the world goes around and the
son rises on June LIST, the interest ON
he bonds will be paid.
sympathy Is felt here for Gan. Grant,
Who has transferred his property to
William II. Vanderbilt 20 protect him
90 Q worthless check for $l50,0O0 az
eeptsd by him In return for his own.
The Generai's transfer includes two
houses in Washington, house in Phil
adslphia, and farm of considerable
sizs 10 the suburbs.
Tie extent or the Marine Failure.
MY YoRK. May TO-" The failure Of
the Marine 10 as complete as ever You
sas,n said Cornelius Morrison, of the
arm Of Creighton d Morrison. 81 Wall
strset, who has been dep ositor in the
Marine Bank for over ~ years. Fish
owned hve-eighths Of all in the Marine
bAnk, and owned, OF course by that, the
directors. Fish aud Ward have been
into The widest wildcat schemes. One
tnin9 they were about TO go into when
Wis crash came was TO purchase the old
Produce Exchange building. l know OF
Wpefsons sent there by rs and who will
lose ell they have in the world. In my
opinion about all there will be left when
We know il, will be the safe and farni-
sara Fish moved away from the bank
Two veeks ago and went int apartments
Mystic Hats. He knew the crash wa
coming and SO did Ward"
Pneumatic Tube Express.
CHICAGO. May l0.-An inventor hal
secured permission to lay q l7-inct
Rosamafic tube along the canal frou
Vhleago 10 LaSaile, a distance OF iO(
uilea, for the transmission OF grain ant
wall packages, by compressed air al
we rate Of mile q minute.
4 Defaaiter Ressrns.
fnnAprLPHIA, May TO- Eugene j
mmooowafd. the missing treasurer OF tn
sa..deiphia Presbytery and the Gen
ant Assembly Of the Church, whose 40
Woets we're reported short q few day
80, has returned. His mind appeared
y Be wandering. II is statad1hat NJ
s viii be sustained By the Church.
Gone.
Alw YoRK, NAV IO.--The Alert sails'
'of NE Arctic today.
had OF The ran river strike.
flIl RIVER, May lo.--The strike her
piactically concluded and NEST of In
s .lI,s are In full operation. No bal
~kers can again secure work here.
Charles OsCenner VERY Lew.
NANTUCKET Nav 10 -Charit.s OsCor