davidaulloa/AmericanStories huggingface dataset:
Evening star. [volume] (Washington, D.C.) 1854-1972, 1891-12-09
FINANCIAL AND COMMERCIAL.
New York stock Market
Mama.


The foloHinR are he openng and closing prices Of
the New York Stock Market. reported by special
wire TO Corson and Mac.rtney .llIy street.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1891-12-09

Agreement Ended in sswteiae's CssA
CoxoonD, n. H., Dec. s.-Argument in the
sawtelle case vas concluded tins morning
decision
Evening star. [volume] (Washington, D.C.) 1854-1972, 1891-12-09

THE VELAsco NATIONAL BANK Of Veiasco,
Texas, capita. 100000, has been authorized to
begin business.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1891-12-09

The Connecticut senate met Monday ana
adjourned to December a.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1891-12-09

Masten Wells Fire Cracker House Blown
Cp-One Man Killed.

BosToS. Dec. 9-The fre-cracker house of
Masten Wells, on Sweet street, was blown up
at 12i5 this afternoon. One man is reported
killed and two injured The explosion was
heard all over the city
Evening star. [volume] (Washington, D.C.) 1854-1972, 1891-12-09


appropriate for holding the sessions of ma
tional body such as this association.
Mr.. Davis of West Virginia thought
that the objection to meeting here was
| that the attractions OF the Supreme Court
and other features would injuriously
affect the association. No one would come 10
| attend the sessions inside of ten years. He pre-
dicted that if the association continued to meet
here il would dwindle down to an unimportant
local association. But if it was held in Indian
apoiis On ia some other place then public at
tention would be drawn to it and the members
OF the association would not have their ton
drawn from the sessions OF the association BY
such attractions as the members of the Supreme
Court, cabinet officers and other pronlinent
officiais. He cited the attendance at previous
meetings.
A member took exception to MI. Davis re.
! marks abont attendance at previous meetings
He maintained that the number Of members
present at the meeting held at White Sulphur
was no greater than those at the 'presen. meet.
ing. He was Of the opinion that this system
| OF moving about from place 10 place was one OF
the causes of this lack OF interest While he
was Virgiiuan he believed that the associa tiou
should have permanent place of meeting and
| that place should be Washington.
THE LARGEST ATTENDANCE WAS IN THIS CRY.
Mr. A. S. Worthington OF this city traced
the history Of the organization and said that
the largest attendance was at the meeting held
In this city. When the constitution was drawn
up it was proposed to provide that the meetings
should be held here. But the District delegates
commended that it would be best to leave this
question to be determined at each convention.
Each meeting since the organization was
formed had drawn q smaller attendance and il
seemed rs if the experiment had been tried
long enough Of going about from place 70
place. For this reason ~ well: ~ because il
seemed to be best he was in favor Of holding
the meetings annually in this city
II was explained that the intention of the
amendmeut was TO hold the annual business
The morning call. [volume] (San Francisco [Calif.]) 1878-1895, 1891-02-12
SPECIAL LEGISLATION.

Senator Carpenter of Sacramento objected
to Senator Berry's bill providing for the re-
assessment of property that had refused to
pay taxes as special legislation. There was,
in MI Carpenters opinion, but one COM
pany which had successfully resisted the
collection of taxes, and it was against this
company that the bill was aimed. Senator
CARPENTER could not stand that kind OF spe-
cfal legislation. he considered a bill in
tended to make the Southern Pacific Com
pany pay taxes as reprehensible TO the last
degree. Had it come to this that men who
have become millionaires by building roads
with public money are to be made to pay
taxes like other people? Senator Carpen-
ter's indignation at Senator Berry's lack of
reverence for the Southern Pacific was shared
by the Senate. The surprising feature in
the vote which defeated the bill was that
ten Senators were in favor of the bill 1t is
encouraging to know that there were ten
men elected without an understanding that
they should stand by the railroad company
through thick and thin. The company by
resisting measures to collect their back taxes
are losing good chance to win the support
Of the 500 school-teachers whose salaries
would be paid if the company would pay up.
The morning call. [volume] (San Francisco [Calif.]) 1878-1895, 1891-02-12
CREATING DEBTs.

The Alta advocates a constitutional
amendment extending the period for which
municipal bonds may be issued to forty
years. The longer the life of bond" our
contemporary says" the lower the rate of in
terest and the higher the premium" Ad-
hitting that permanent bonded debt is
necessity, the argument is sound. A debt
which must be paid in twenty years, one
twentieth of which must be provided for
each year, rObs the bond mill Of many of its
destinations. The thing has hardly got to
work when its consequences begin to be felt
Not only must the interest be paid annually,
but a tax must be imposed to provide for the
sinking fund. Voters do not see much ad-
vantage in borrowing money to-day if pay
ment must be made tomorrow. 1t is better
to pay as they go, aud thus save inter-
est. One reason why real estate in San
Francisco attracts money from all parts Of
the country is its freedom from debt. Taxes
are high. but the future is free. There is no
danger Of exorbitant taxes a few years hence
to meet maturing obligations. There being
practically no debt, taxation may be limited
by a vote of the people. We may provide
more or less literally for current expenses,
but no debt hangs over us that We are bound
to pay whether able or not.
The morning call. [volume] (San Francisco [Calif.]) 1878-1895, 1891-02-12
EDITORIAL NOTES.

The evil effects OF initiation In the Argentine
Republic are graphically depicted by Consul
Bakers interesting report to the State Depart
menT a burden looming up most ominously be
declares, is the service OF the Interest on the
millions OF ceduias now In circulation for the
payment OF which the nation aud The province
oil Buenos Ayres are respectively pledged A
year ago the oul standing amount OF these cedu-
las mad reached S4G4, 900, 600, OF which $500
OOO,OOO III paper were the issue of the Buenos
Ayrcs Hypoihecary Bank and Sl64 oOO. 900 in
gold were the issue OF the National Hypothecary
Bank. Since then the former has issued $40
100000 more and the National Hypothecary
Bank has now Just issued $4,000, 900 more, so
that the total amount for which tie interest has
10 be provided may be roughly stated to be $500
0OO,0CO. While the respective hypothecary
banks must meet the interest accruiug on these
ceduas they are reimbursed for the same by the
8 per cent interest they receive from those whose
property has thus been morigaged at so per
cent OF its valuation. Until lately the banks
pretty punctually received their interest. II
is known, however, that many with heavy
mortgages outstanding have been caught in
the crash and are no longer in a condition
to pay the accrulng interest be mortgage
banks OF course have tue alternative OF selling at
public auction the property mortgaged but il
put up at forced sale II would scarcely fetch a
tltbe OF the amount for which IL was morigaged,
When the price was three or four times higher
man VI Is Io-udy. ana what shall DO said of the
lrredeemabe paper currency in circulation and
for thu ultimate security OF which national bonds
are held by the Government? At present IL can
not be less than $4,000 900. An examination
OF the provincial banks has resulted In scan6a-
l0us disclosures. In some eases discounts for
millions were made to men of straw whose names
even did not Identity them. Meanwhile the
country Is being drained of gold President
Peligrini recently figured that the amount OF gold
II was necessary to send out every year to meet
the service OF The foreign capital invested in the
country was: Interest on loans and Government
guarantees. S23, $50, 900; service of ceduias held
abroad, Sl5,000,00o; divld -nds OF railways.
banks, tramways. &c, s250oooo0; interest on
foreign money employed In commercial opera.
lions and remillances OF foreign residents,
$4,000, 900; amount OF imports over exports.
etc, $4,000 900; total, S155, 10000 With
such drain OF coin going out OF the country Is
IL remarkable That gold is sea rec and commands
big premium =?
The French troops In Tonquln, who have been
Trying 10 destroy the bandit bands that nfest the
country, mad they have big OBJ on hand. Re-
Gently they nave captured sc veral hundred ban
ats ana put the rODber chief to DEATH Bandits
ana pirates bay e been the curse of The Ipdo-Cb
bese peninsula for ages. Rigorous measures
nave made the pirates comparatively scarce. but
The morning call. [volume] (San Francisco [Calif.]) 1878-1895, 1891-02-12
INTEREST ON MONEY.

The State Senate, by a vote of Is to Is, has
ordered TO a third reading bill to make the
legal rate of interest per cent. Before
1870, the legal rate was 4 in that year it was
raised to 10 per cent-it being provided
that judgments should draw per cent, and
that parties might agree with each other Tor
the payment of any rate of interest. The
effect Of the new bill, if it becomes a law,
will be 10 make per cent the regular rate
where no other rate has been fixed, but in
! all other cases will leave the price OF money
to De regulated by supply and demand.
AS an abstract proposition, a law specify
ing the current value of money cannot be
justified The proper compensation due by
a borrower to a lender for the use of money
depends on the necessities of the former,
the means of the latter the uses to which
money can be put, and the nature of the
collateral by which the loan is secured.
These factors fluctuate with time, place and
circumstance, and no uniform rule can be
laid down to govern all eases. STILL cases
are constantly arising in which loans of
m oney ought TO earn interest, and yet no
specific rate is made in the contract; it is to
provide for these that modern codes name q
rate which shall apply when no other rate
has been specified. Whether per cent is
high enough in this State may be a question.
Money is always worth more than 8 per
cent in the rural counties, and even in the
city the banks expect to earn more than
that on all classes of securities except Gov
eminent bonds or first mortgages. But per-
haps per cent will be found to answer
California, at an early period of her State
hood, adopted the common rule that money
should be worth what it would fetch in the
market In Virginia the rate of interest
was fixed al 6 per cent. and a creditor who
stipulated for more forfeited his claim for
any interest whatever. a similar law pre-
vailed in Georgia, where the rate was per
ceut; it was only il i SS1 that the law was
am ended, and even now lender who cove
nant5 for more than per cent cannot col
lect the excess by process of law. In New
oTk the uSIry laws were modified in 1882,
so far Is loans at the Stock Exchange are
concerned. bHt in the rural districts a loan
on which the borrower promises to pay
over 6 per cent is Illegal In some Eastern
States violation of the usury laws involves
a forfeiture of both interest and principal;
SO that debtor can cheat his creditor with
safety by agreeing to pay more than the
legal rate of interest.
The morning call. [volume] (San Francisco [Calif.]) 1878-1895, 1891-02-12
PASSED THE HnuSE.


The bill approprating 100000 to enable
California to make showing of her prod
ucts at the Worlds Fair has passed the As
sembly. The item is included in the Gen.
eIai Appropriation BIZ and consequently
cannot be considered an extraordinary ex-
penditure. Later in the session the question
will come up whether the 5O-cent limit shall
be broken OF State institutions be left I'M
provided for 1t is not surprising that Dem
ocrats voted to place the Republicans In the
dilemma OF broken pledge or neglected
State institutions Either Will help the
Democrats 10 carry the State in 1892. The
fair is largely matter of vanity. 1t will
enable several fussy individuals to make
show of themselves. To the extent to which
1t attracts immigrants it will help large land
owners and railroad companies. Until new
industries are established or Old ones en-
aFged there is little inducement for poor
people to come to the State. Wages are
nomlnally high, but man out Of job may
have time to get hungry before he can find a
place where he can earn the usual wages
The natural advantages of California are
beyond comparison greater than those of
States which have filed up rapidly. but the
conditions are not favorable to Immigrants
without some means
The morning call. [volume] (San Francisco [Calif.]) 1878-1895, 1891-02-12
THE SHOOTING OF MAY.

Il is difficult to know what to say of the
shooting of John Nay by Officer Cavanaugh
on Tuesday night. As a general PROPOSE
ton it is mtOerable that a policeman should
be allowed to take the life Of a man who has
not committed a crime, but who merely re-
fused to be halted at the command of the Of
fcer. That sort Of thing is done in war
time al places where martial law prevails,
but it is unhelrd of in a peaceful city.
Policemen in san Francisco are invested
with no such powers of life and death they
csuuot claim to combine in themselves the
Office Of judge, jury aud executiouer; if
they do they do il at their peril.
At the same time, in forming an opinion
on Cayanaugh's case, il is only fair to bear
IN mind the recent development of the Grim
inal class. Before leaving Sacramento ex-
Governor Waterman flooded the State with
miscre3nts of tue deepest dye who were
serving terms in the penitentiary. Many Of
the liberated Conycts are known to belong
20 the class TO which robbery and murder
are familiar. They were turned ont Of
prison with a suit of clothes, So in money
and pass to the city. 1t goes without say
ing that most Of them found it difficult TO
get employment, food and shelter They
had not been a week out of prison before
the police perceived that the criminal class
had received re-enforcements and Chief
Crowley was compelled to exact increased
vigilance from his men. The shocking
Greenwood murder near Napa is probably
one Of the products of the late jail delivery.
while the hold-up and murder of Mr.. jacob
son shows that even before that unlucky
business. murderers walked the streets
All these facts were probably present in
Officer Cavanaugh'S mind when he fred the
fatal shot He saw three men come out of
dweilng-hnuse in lonely part Of the city,
half an hour after midnight They seemed
to be trying to conceal themselves. When
he accosted them they scattered and ran.
He followed one Of them and hailed him.
The man ran all the faster. He fired a shot
over his head. The man increased his
speed, Then the officer fired again and the
fugitive fell dead.
Ii it shall prove OF the trial of the case that
the deceased was a man of honestlife and had
merely been engaged in some misdemeanor
which led him to wish to avoid the notice of
the police, Officer Cavanaugh will find him
self in painful predicament. policeman
Is not armed with pistol to 80 round shoot
ing people whom he considers to be acting
suspicously; be is allowed to carry the
weapon for the defense of his own life. or
IN case Of resistance which cannot be over
come by the club, to maintain the public
peace and order. 1t is no defense for him
to plead that he did not intend to kill, but
merely meant to brighten his man. He VINO
fires a pistol in the direction of one whom
lie is chasing is responsible for the course
the bullet may take.
The morning call. [volume] (San Francisco [Calif.]) 1878-1895, 1891-02-12
A PROSPEROUS YEAR.
The Commercial Transactions of
California.

The annual trade review of the Journal of
Commerce contains some valuable statistics
regarding the productions, commerce, re-
sources, and the financial condition of Cali
fornia.
The products OF the State during the year
1890 include 100000 bushels of wheat TO-
100000 bushels of barley, 49, 100000 gallons
of wine, 35,5S2,000 pounds OF wool, 22995
TASKS of quicksilver, while the combined
gold and silver yield for the year amounts
to sos, 10000. The total value of foreign
imports in 1890 was S45.594.125.
a comparison between the imports of
sugar and the exports OF wheat and flour
during the past thirty-four years indicate
that the ratio increase is much greater for
the exports than for the imports of the COM
modites mentioned. Some Is, 26S, 100 centals
Of wheat and -four expressed in wheat were
shipped to the markets beyond the boun-
daTieS of the State, and SOS $40 $50 pounds of
sugar imported. OF tea, 6,33S, SO pounds
and 4S0ll l35 pounds of rice were brought to
California from abroad. We also received
Az, 476,0G6 feet of lumber, and our increase
III population by immigration during the
past year was 20,000. The Federal revenue
at the port of San Francisco was $3.50 500
and the coinage at the Mint in this city was
S24, 427, 6Sl.
General business has been active through
out the preceding twelve months, particu-
larly during the latter portion of the year
The sales of real estate in san Francisco for
that period amounted to S36, j4j. $751; and the
value OF the local manufactures was Sl1S,-
100000 The banking capital of the State is
sol, 100000, and the resources Of our banks
exceed S2T9 000, 900. All of the insurance
companies transacting business in the State
secured profitable returns from their invest
mentS.
The total fire premiums showed an in
crease OF per cent over those OF the pre-
ceding year. The loss ratio of the Califor-
MIA companies was 1913 per cent; of the
companies whose home offices are in other
States and Territories of the Union A. 3 per
cent, and of foreign companies 45.3 per cent.
The year was remarkable for the great
number OF casualties of all kinds, and par
tlcularly for the number of marine disasters,
which was larger than for many seasons.
Many vessels went to the bottom. there
were number Of minor mishaps and fire.
quent storms and hurricanes, accompanied
with dreadful loss of life.
Increase is reported in the value of our
manufactures and other industries, for
eign commerce and banking deposits, and
progress has been made in educational ia
cIlities, population and in the development
OF natural resources.
The shipments Of fruit from this State
have been larger than during any preceding
year, while the prices secured and returns
received by shippers and consumers have
been phenomenal. The lumber and SAL
mon trades have been exceptionally pros
porous, and our general business has been a
Just matter Tor coDgratulatiOn.
The morning call. [volume] (San Francisco [Calif.]) 1878-1895, 1891-02-12
WEATHER PREDICTIONS.


SIGNAL SERVICE, L. $. ARSrY,)
DIVISION OF THE PACIFIC.
san FRANCIsCu. Feb. II, 1873 r. NJ
Synopsis for the Fast Tweuty-faur Hours.
The welcome noted in this morning report as cen
trial of Vancouver Island is now moving eastward
over British Columbia, attended by rain or snow
throughout Washington, oregon, Northern Nevada
and the extreme northern portion of California.
The winds are generally southerly in all districts,
. except southeastern California and Arizona where
tn are north - west The yelocities have been
brisk TO high in the northern portion Of the Pacific
Coast States: Fort Candy, southeast, 40 miles an
nour: ala Wala, southwest, 20; Portland, south.
%; WiHRemucca, southwest 81. The barometer
has risen ia Southern California and Western Ari-
zona; elsewhere has fallen, especially in Washing
ton. The temperature has generally risen all dis
has taken place. Fair weather has prevailed i'll
Southern California, Southern Nevada and Arizona,
elsewhere rain OF snow has fallen. The following
precipitation is reported Signal Service stations:
Hort Candy, O.SS OF an inch: olympia. O.5o: Spo-
kane Falls, DIS; Portland, O.S6; Baker City, O.O6;
Eoseburg, dig; Eureka, O.US; wirnemucca, OO2.
Forecast TIN p. VI. Thursday.
For Northern Califoruia-Falr weather, except
Light rain in northern portion; winds generally
south 10 west; nearly stationary temperature.
Tor southern CaljTornia-Fair weather: winds
generally westerly; nearly stationary temperature
-.' For oregon aud Neutrality-suspicious.. turning to
snow IN the mountains; brisk to high south to west
winds; nearly stationary temperature. except
cooler in Roseburs, Walla Waila and Spokane Fails
JON, P. FINLEY,
Lieutenant Signal Corps an charged.
The morning call. [volume] (San Francisco [Calif.]) 1878-1895, 1891-02-12
MONEY IN IT.

The persons who are profiting from hay
ing driven stone-bock pavements almost
out Of use in this city by making them too
costly by laying heavy concrete founda-
ton die hard. There is but little use of
concrete beneath the pavement, for it has to
be frequently removed for sewers, water
and gas pipes. On sand foundation any
unevenness can be remedied. And the
stone blocks will remain suitable for re-
paving streets for quarter of century or
more. The asphalt when even worn is gone
But what care the men who are making
money out Of the taxpayers for this?
The morning call. [volume] (San Francisco [Calif.]) 1878-1895, 1891-02-12

they commenced and had millions when
they finished. They made enough money
out of the operation to have paid the debt
if they had been so disposed. They did not
pay it, but charged rates for service which
enabled them to build the Southern line.
Having taken no one knows how many mill
ions of the earnings of the road to use In
another enterprise. the managers now say
that if tie Central Pacific debtmust be paid,
the people who use the road must pay 1t.
The morning call. [volume] (San Francisco [Calif.]) 1878-1895, 1891-02-12
MUST THE PEOPLE PAyq

Mr.. C. P. Huntington writes to Mr.. w. II.
Mills on the subject of the debt due the
Government by the Central Pacific Railroad
Company. One of the arguments used 10
prove that the company should be permitted
10 pay at their convenience takes the form
of an assertion that il the debt must be paid
the people who use the road must paw if.
This assertion provokes an inquiry. How
many times are the people required to pay
for thing? The people have already paid
for the Central Pacific twice. The land and
credit with which the road was built be-
longed to the people. The fact that these
lands and credit were sufficient to build the
road is presumptiyely established by the
fact that the builders had no money when
The morning call. [volume] (San Francisco [Calif.]) 1878-1895, 1891-02-12

Joseph Compa, a farmer employed on the
San Pedro Ranch, near Colma Station, fell
from hay loft last week and was seriously
injured internally. He was removed to the
French Hospital in this city, where he died at
6 o'clock yesterday morning from the effects
OF his injuries. The deceased was native
of Italy and aged % years. His remains
were removed 10 the Mnrnnp
The morning call. [volume] (San Francisco [Calif.]) 1878-1895, 1891-02-12
srRsCKIPTIoN RATES.

DAILY CALL hncIuding Sundays. S. per year by
mail, postpaid. IS cents per week,-or 65 cents per
calendar month through carriers. DAILY CALL,
five copies, three months. S6 -. SUNDAY CALL
Oweiye pages). 81 so per year, postpaid SUNDAY
CALL and W EEKLY CALL. 81 80 per year. post
iaId. WEEKLY CALL (eight psges), 81 % per year,
LNsfuaLh. lLnlLs % Lsent o allresSl- $40.
The morning call. [volume] (San Francisco [Calif.]) 1878-1895, 1891-02-12

Amy of our patrons who fail to find
THE MORNING CALL for sale by
train-boYs will confer a favor by mott
flying this Office of the fact, naming the
date and train.
The morning call. [volume] (San Francisco [Calif.]) 1878-1895, 1891-02-12

FeF Montgomery street. near Clay, open until IL
O'Clock p NJ BRANCH OFFICES: no Market
street near Kearny, open untai II O'Clock midnight;
$50 HAYES street. open until ESQ O'Clock; sos
Larkn street, open until 80 O'Clock; 25lS Mission
street. open until O'Clock p N, and JIG Ninth
street. open until so P NJ