Daily Los Angeles herald., 1884-05-22

concluded TINS AFTERNOON, when the
statue was formally unveiled. Justice
Miller presided in place Of Chief Justice
Waite, who was detained by sickness.
A brief History of the statue was read by
Rev. j. q. Rubber. Seuator Conger, Of
Michigan delivered the address Of the
day. Rev. j. s. Morris. b. d., spoke at
some length. The cord attached to the
dag covering the statue was then pulled
and az the drapery tell, disclosing the
face of the Great Reformer, the band
rendered Luther's famous battle hymn.
The ceremonies closed with a benedic
ton pronounced by Rev. DIR. Albert, Of
Philadelphia.
The Industrial Congress.
CHIcAGo, H., May 81. - In the
Industrial Congress Mr.. Bush made
prott ctiou speech. He said the
sugar interests of Louisiana need
ed incidental protection. At the
conclusion Of his remarks Judge Atwater,
OF Minnesota, said he had come to the
convention under a misrepresentation.
IL was called for tho purpose of discuss
ing the industrial interests Of the coun-
try, but from the tenor of the presi-
dents's speech, he found the convention
had cut and dried its proceedings in the
interest Of protection. The -four and
grain interests of Minnesota were OPP
posed to more protection and he there
fore asked to be permitted to withdraw
from the convention. President Bush
replied that Judge Atwater's assumption
wss erroneous. A majority Of those
present favored protection, but this
would not prevent debate.
At the evening session the committee
reported long preamble and resolutions,
which were adopted. They declare that
the nation should foster and develope
its natural resources by protective tar
i'll; that our greatest prosperity was
shown during the operation OF protection
and financial depressions In the times of
free trade; that protection and not free
trade is the proper national policy, ex-
cept with nations whose labor Is on u ba
sis equal to ours; urge upon the attention
Of Congress that tariff should be levied
ON foreign competition with all our
products and manufactures, the result Of
American labor; that no commodity,
the result of American labor, can prop
erly be upon the free list; ask for the re-
ptul VI HitCThut iONchoo thAt hhu
that the Importation of pauper or
contract labor be prohibited by
law; that the waterways and railways,
particularly the chain Of lakes and the
Mississippi river and the connections be-
tween them, be developed, protected
and improved; that the producer of raw
material be protected, rs well as the
manufacturer and specifically ask Con
gress to protect by tariff the fol
lowing: Wool. hemp, fax, jute, ramie,
sugar, beet sugar, rice, cotton, ties, cut
hoops, old rails, scrap iron and tin plate;
calls for the abrogation OF the treaties
with the Sandwich Islands and Mexico
as competitors with somi-slave labor for
sugar trade, aud concludes with a re-
quest for revision OF the patent laws
Adjourned. -4a a.as 8.
Missionary Bishop for Africa.
PHILADELPHIA, May 2l,-At the
Methodist Conference this morning the
question of sending missionary Bishop
to Africa was taken up. After discus
sion it was agreed to send one to Africa.
The Financial Crisis at Pitts
burgh.
PITTsBURGH, Pa, May 2l.-A meet.
ing OF the associated banks was held this
afternoon to take measures to sustain all
the banks, similar to the action taken in
New York. VIM. H. Schmertz, Presi-
dent of the Third National, says he has
seen the balance sheet of the Penn
sylvania bank book, and thought they
would be able to pay all debts, and that
1t was solvent. The other banks he re-
garded as strong enough to stand the
crisis. H|
The Pennsylvania Bank Will Pay
Deposits and stock - Cause or
the Suspension.
PIrrsBUkeH. Pa, May 2l.--Ia regard
to the bank suspension, President Riddle
to night made the following official
statement to the Associated Press: " The
Board of Directors met this afternoon
and began an examination into the affairs
of the bank. Their examination justihes
them and myself in the statement that
the bank can, as matters now stand,
pay every dollar on deposits
and stocks" Mr. Riddle refused to
give any statement Of liabilities
or assets, From outside sources it was
learned that the liabilities will not ex-
ceed 81, 800, 900, and that the assets will
more than cover this. The only ques-
tion is time to realize. The bank is cred.
tied with heavy oil speculations, but this
is denied. The direct canse OF trouble
is attributed to the rumors growing
out of the clearances of the Petroleum
Exchange being taken away from the
Pennsylvania Bank, which, up to
few days ago, was the clear
ing house Of the Exchange. The
change was made several days ago and
the business transferred to the Farmers
Deposit National. This gave rise to
rumors that the bank was in trouble or
likely TO be, and q run has been going
ON, consequently, for several days. The
feeling tonight is uneasy and it is feared
runs will be made on several banks to-
morrow.
Louisville Races.
LOUISVILLE, Ky, May 2l.-In the
Fairview stakes for two.year-old tillies,
three.quarters of mile in stretch,
Tabitha, the fa,orite, went to the front
and won easily by two lengths, I'm
promptu second, Nallusia third. Time,
ll7A.
The Tobacco Stakes, for three-year-
olds that have not won race pri II 10
January LIST, 1854, mile heats, Marx
DAILY won in straight heats. Time. ;46A;
| :46 West and Madison were distanced
in the second heat,
The Club purse, five furlongs, was
won by Princess, Farce second, Premi-
um third; time l.0l. Lady Hobson rau
away and did not start.
In the steeple chase handicap, mile
and half, Major Pickett won, Carter
Harrison second, Ohio Boy third; time
3.27l.
sterling, Exchange aud Bonds.
NEW YORK, May 22.-Sterling bills
on London, 80 days, S4.S5; Sterling
bills on London, sight drafts, S+.S7; U.
$. AIS of 1891, interest quarterly, Sl.l24;
u. ). Is, 1907, interest quarterly 81 2Oa
u. s. IS, optional. quarterly, S99;
w. u. Tel, .53k.
DonnelI, Lawson d simpson. 1
New YORK, May 2l.-Mr. Simpson, of
Donnel, Lawson h Simpson, stated to
the Associated Press to-day that they pay
one halt Of their Indebtedness in twelve
months, the reminder in two years II
the terms are accepted by nine tenths OF
both the amounts and members.
e.