The herald., 1896-03-06

Turkish bonds. So little value is placed
upon them now that they are scarcely
negotiable securities, while in the open
market the current prices are about so per
cent below their par value. 1t would be
quite impossible for Spain to negotiate a
new loan at any price with foreign capital
lists, and as year by year her people have
become impoverished, the subscriptions TO
a national loan are impossible. Both Spain
and Portugal are hopelessly bankrupt, and
with Italy, are the pauper monarchies
of Europe.
The ignominious defeat of General Bara-
teri in Abyssinia is causing much excite
mena in the Italian quarter. Sig. F. Ferrati
of Genoa, who is visiting friends on South
Main street, has son in Baratleri's army,
and early this morning had a cable from a
comrade of his son stating that the Italian
force had been strengthened by belated re-
Inducements and would make final stanu
at Adigrat. Young Ferrati is wounded in
the right hand, but not seriously. The re-
treat, covered by Arimondi with handful
of men. will be as historic as the memoir
able one of Sir John Moore at Corunna.
The Italians were outnumbered by hordes
of Abyssinians and allies by 500 to L.
A number of Cuban volunteers left the
city yesterday to join large party from
St. Louis at III Paso, Tex. For the past
three weeks they have been drilling not far
from the county hospital. meeting at nights
in a vacant store on Los Angeles street.
They are all young men of education and
many of social standing. The Simmons
hardware company of St. Louis has fur
nished the necessary equipment through
the agency of well known hardware firm
in Los Angeles. S. A. Morales is the Or
ganizer Of several groups of volunteers,
who have been quietly leaving Southern
California almost every day for weeks.
The points of departure for Cuba are said
to be Tampico, Vera Cruz and Galveston.
Henry Olsen, the well-known real estate
man and capitalist of Chicago, is visiting
friends in Los Angeles. He is of opinion
that the assignment of the Central Trust
and Savings bank of Chicago to the Chi
cago Title and Trust company will per-
haps save something for the creditors and
depostors, the majority OF whom are poor,
hard-working people. 1t unfortunately
happens that the assets, ample on paper
and no doubt capable of being realized
upon in time, are of such a character that
they are not available for security for
loan. The deposits are about S75 900. the
actual cash in the bank is about 81 900.
local trust company, which has been
correspondent of the defunct bank, is
quite unaffected by the failure. but there
are quite large number of small creditors
in Los Angeles, Pasadena, Tacoma and
Seattle.
Harry W. Benson of the Western weigh
ing and inspection bureau, is busily EN-
gagged in turning the tables on dishonest
shippers in Southern Califol mia, and indeed
those of San Francisco. Portland and
points in the northwest, for frauds through
undertaking whereby the railroads had
been defrauded of large sums in freight
charges. Fictitious weights, false labelling
of merchandise and other dishonest de-
vices to beat the roads have long been
known and patiently borne. but abundant
proof has now been secured by the West
ern weighing association which will be pre-
sented to the interstate commerce associa-
ton for investigation. 1t is a poor law
which does not work both ways and hold
shippers and carriers responsible for in
fractions.
The gradual closing of the harbor of New
York is not receiving that attention which
such a serious matter deserves. said S. P.
Northmore of Brooklyn. 1t may seem an
exaggerated statement to make, but it is
nevertheless true that New York is the
largest manufacturing city in the world, if
due weight be given to the value of pro-
duets turned out-a condition due to the
ture can be gotten together cheaper there
than elsewhere and distributed more expe-
ditiously and at less cost than from any
other point. The last census shows that
the total value of the manufactures pro-
duced in New York city during the census
manufactured products of greater, New
York-that is to say, New York, Brook.
eity, tSa; soE HoSoken oSdi .ndi Newark. s Sey shey
amount to $l,2OO,671 ,459. For the same
year the ocean commerce Of New York
amounted to $516.426,692 for imports
and for exports $34S,O51 ,991, aggregat-
ing SS64,47s.4S4. The value of manu-.
features in the city of New York lacks only
about per cent of equaling in value the
total imports into all the ports of the United
States. and the total value of the manu-
factured products Of greater New York is
very nearly IS per cent of the total foreign
commerce of the United States, and the
wages paid are slightly in excess of the
value of the annual exports from New York
City alone. These facts were adduced by
the distinguished civil engineer as a cogent
argument for the immediate improvement
of San Pedro harbor and the consequent
establishment of manufacturing industries
in and around the metropolis of Southern
California.
The concession to the English South
american CaDle company TO lay cable
landing at La Plata, Argentina, which was
Cancelled by. the Argentine government
in January last, on the ground that the
company had failed to rightfully secure
the landing points necessary for it's sue
cessful operation is now renewed, said F.
II. Fotheigill. tho eminent deep sea elec-
trician, at the Ramona yesterday. The re-
vocation was caused by Brazfl's claim of
ownership of the island of Trinidad, and
the denial by Argentina to England's right
of ownership of the Falkland islands.
Amicable correspondence with Lord Sails
bury is said to have resulted in the restora-
ton of friendliness, and l expect to 20 to
the little island of Trinidad about the end
of, April to arrange a relay station at that
point. Mr.. Fothergill said further, that
the proposed cable to Australia, via the
Sandwich islands, giving direct commune
cation to the United States and via the
Atlantic cable to England would be in
operation within the next two years.
The Most remarkable cures Of scrofula on
record have been accomplished by Hoods Sar-
aparilla. This medicine is unequaed for dis
eases of the blood. Take only Hoods