davidaulloa/AmericanStories huggingface dataset:
The sun. [volume] (New York [N.Y.]) 1833-1916, 1898-01-25

A copy of an agreement of modification, dated Jan.
uary 12. 1893. providing a. above and for the dispo-
sition of the remaining securities. has been duly nled
in the ONCE Of the undersigned for the information Of
Depositing Stockholders.
Amy holder of certificates Of deposit Issued by the
undersigned under said agreement of September /,
1897, not asserting to such change or modification.
within one week after the NTH day OF February,
1893, may withdraw tho deposited stock or stocks
represented by such certificates held by him without
expense. but all depositons not so Withdrawing
within said time shall be deemed to have finally as.
sented to such change or modification and shall DO
bound thereby. and the undersigned Dopositary shall
be fully authorized to carry the same into effect, with
all the powers provided in said agreement
Dated New York. January ~. 1895.
CENTRAL TRUST OF NEW YORK,
pepositary.
Referring to above modification, tho Board Of
Directors Of the Equitable Gas Light Company Of New
York. at q meeting thereof held January z. 1893,
unanimously resolved tn recommend that the stock.
holders of this company assent to the said modinos
ton of said plan and agreement.
By order OF tho Board of Directors,
R KEfNE. President.
Referring to above modification. the Board Of
Directors OF the New York and East River Gas Com.
pany, at q meeting thereof. held January o. 1898.
unanimously resolved to that the stock.
holders of this Company assent TO tho said modinoa-
tion OF said plan and %greement.
By order of the Board OF Directors,
Angus BELMONT. President.
New York, January IL. 1895.
TO H CENTRAL TRUST oMPAN OF NEW
YORK CITY.
GENTLEMEN:
Referring to the proposed modification Of the plan
of union of the Equitable Gas Light Company and tho
New York and East River Gas Company. we would
say that in our judgment 1t 10 necessary and expo.
dent that the plan should DO modified a. now pro-
posed.
Yours very truly,
,. p. MORGAN a CO.
The sun. [volume] (New York [N.Y.]) 1833-1916, 1898-01-25
TRADES SCHOOL HOMICIDE.
Youth who shot isis Fellow Student Commit
ted To tho Tombs.

ted tn tho Tombs.
William Fl. Watson, Jr.. who shot and killed
his follow student. Joseph Miller. in the dormi-
tory OF tho New York Trades School on First
avenue on Sunday afternoon. was arraigned
yesterday before Coroner Bausch. Watson, who
appeared utterly broken down. protested that
the shooting was accidental. Tho police believe
WatsOn's story OF the shooting. Coroner Bausch,
however, committed Watson to the Tombs pend
ing the inquest, which will be held on Thursday,
Watson sObbcd bitterly as he was led away to
prison.
William foutZy, tho student who was in tho
room at the time OF the shooting. and was held
as . wltness, was released BY the Coroner on
800 bail.
The sun. [volume] (New York [N.Y.]) 1833-1916, 1898-01-25
Real Estate Auction saIeu.

At the Broadway salesroom yesterday Bryan L.
Kennedy sold the half interest OF Stephen O'Hare in
No. go East 10Th street. near Madison avenue. q Ave-
story brick fiat house. on lot 26xl00. IL; also the one.
half interest OF Thomas Adams In the premises to Leo
Hutter for 49, $50.
The sun. [volume] (New York [N.Y.]) 1833-1916, 1898-01-25

Winter in bbls.: Supcrfne. S36Ds3.l5 No. g extra,
93. $50 Oil. 30; straights, 4.25Gt D.. 80; patents. 64.7o
@&5.lo. Spring in bbls. Clears, 81. 5CSSi. 80: patents.
81. 9OG %. 20; s~traights, o.. 50@S4 20. Mill Feed
Was fairly active. but easier. Western spring. In
100 ms, sacks. sl+; 200 MS, 9l3. 1854; winter in
bulk. Sll 1$l4. 90.
Corros;-spot cotton here was unchanged with
sales OF SO bales for spinning; 1000 bales were de-
llvered on contracts. Middling uplnnds, 57sc.. against
7sc. last year; New Orleans aud Gulf 8isc against
Tac. last year. Tho Southern spot markets were
steady at unchanged quotations. New Orleans sold
1900. MoDll- 500. Augusta ~. Norfolk 1872. and
Savannah, 2Nj bales. Liverpool was unchanged on
the spot with sales OF 10000 ha!eS; futures there
opened = point higher on near months, hut reacted
and closed unchanged TO l. point lower. In Manchester
yarns were Ia buyers favor; clOthg move slowly. Tho
Bombay receipts for tho half week. were 20,OO0.
aga INST 22, 900 bales In tho same time last year. Tho
receipts at the principal interior towns We're as fol.
lows:
The sun. [volume] (New York [N.Y.]) 1833-1916, 1898-01-25
THE Chicago. ROCK ISLAND AND ACIFIC
GOMrANH.

CHICAGO. January cath, 1879:
For the purpose Of holding a hpoc!al Meeting 0f tue
Stockholders OF this Company, tue STOCK IransfEr
books u The Chicago. Rock Island and PAcihc lailt
way Company viii cIose ~ u O'Clock Y. n. February
lSt and reopen II 10 o'clock a. NJ. February 10, 1894
W. q. PURDY, TToASusSs,
The sun. [volume] (New York [N.Y.]) 1833-1916, 1898-01-25
Available cash balance,

"S'uu'hh ko'u reSerNe' oEoe'oO 'SoO vEAO,bba, 10
Money In London / 2 cont. Rates of discount
IN open market for both short and three months
bills, 2 3'le@2h " cent Paris advices quote 8
$cents at lob francs 70 confines. Exchange
on London, 20 francs Gle centimes.
Morton S. Patton, James ID. smith & Co., w.
A. A. NJ: White. and II. o. Armour announce
Manhattan Trust Company issuod on deposit of
bonds of the Seattle, Lake Shore md Eastern
Railway Company, held by them severally. for
ranRemcnt by which any holder of tho cortif-
Gates may obtain the same price by presenting
from date.
Tho sales of mining stocks at the New York
Consolidated Stock and Petroleum Exchange to-
IN ~ trRrn 40 Ill zt-a
The sun. [volume] (New York [N.Y.]) 1833-1916, 1898-01-25

paying all .hxed charges for tho first six months
OF Its fiscal year. IL requires $780, 42 for divi.
dends on the preferred, leaving n surplus for the
six months equal to nearly ! y cent. on the COM
mon stock.
The Georgia Central Railroad Company has
given an order for 5000 tons of cighty.pound
steel rails TO be used In renewals on its main line.
The total transactions in various shares on tho
Stock Exchange last week were 1879 $50. IN
increase OF 1877, 314 shares as compared with tho
corresponding week of last year. The transac-
tons In State and railroad bonds aggregated
S20.345.500 an increase OF $9,9l3. 100.
The receipts of the Government to-day wero:
Customs. Sale internal revenue, 1875. 1854,
and miscelleneous. $32,s19; a total OF 81. 800
GAP. Tho disbursements wero 81, Dos. 600, an
excess of expenditures over receipts Of SiTg.-
800. TIL receipts OF the fiscal ycnr TO d to have
been 1928. $40. $50, the disbursements 1895, l35,-
I'll, and the excess Of receipts over expendi-
lures $405,072.
The official count OF the cash in the Treasury
at the close of business to day COMPARED with
that Of Saturday shows:
Jan. P2. Jan. Ell,
Gold coin and bullion. .S1e3. 800, 1870 el68. AGA, 77I
silver coin and bullion. lB,SlS,SgO l7DSY,195
United States notes ...... 20, 40 7,435 25.7p5O 600
Other assets less demand
liabilities ......,".... 10000 9s SLICE. ITO
The sun. [volume] (New York [N.Y.]) 1833-1916, 1898-01-25
safes OF railway BONDS tpar value) NS'ooS'o
RAILROAD AND OTHER SHARES.

aotalsales or railway bonos tpar value) t3,ooS'oOo.
RAILRoAD N OTHER SHARES.
Open. Hfph. Lou. -c1ortno->
Sales. fnp. est. est. Bid. hsked
90 m Rp.l l3a Il3a ll3s ll3hllAla
$50 AmsMp 10 les 1ea Is 10
1ooss Am lob. 6 ash s3a / s4Hs
10 Am Ex..l1sa 49, llss lis 1ao
gao Am con 2oh 2ok 2oh 30 GOV
100 c 74a 74a 74a 73R 74s
600 Atch.Ta
8 Fe... las l2a les las ls's
ees1 Atcb.TS
srep. es,a eea ees ee,a ass
100 A Arb Of 34s 34s 34s 81 80
$50 Bait o ID l3 l2h 12 l2h
1850 Bay sta 4k AZ q 3s d
lostS Brk RI aes o 3sh 8 o
a6ss 3 I'm a.122 1875 l22 g 1873
$50 canso.. o3h 50 So Ssh SO"
200 Can Pac,
SEQ. eea esa ssa ssa 8
1914 Con Ice. 34h 37N q q 35a
100 Ice p. SEA 49, SEX IS SEX
$3.50 CHI @ la la 1874 Id l4h
1910 ch'S&o21h 2lh 81 21k 2lh
oooc&EIplo6s lo7 1869 LOG 1o7
Ill Oh Altl65,a 1861 1861 1861 -
cas- Gees
H.: sst 80. sst 80 ss'.
soe5 &Nw121s 1914 lloA l19% 100
1870 c&Nwple4a 1e4h le4b le4h -
100000. B 40 esh 8 OF e7h e7o
a7Doo C .Msstp e4h s4b eas esb esh
800 {. 4 st
Ppf....lAa5 l43S l43S lAs l4A
5000 CRAP es] 8 s7h s7% s7b
1850 colFuel. 234 231 2s 22h 80
30 Chi Ter. rs rs III IN ~
le<5 C Ter p. 81 81 2eh 26s 81
100 C.Hv&T. o. 6L Ga 6s 6a
1880 CLAW. 17s 17k s. 15b l6k
14l%e conGas.1eo 1e4h 1897 8
500 c.IALp 81 81 81 81 all
800 D&Hud.l1ln l11al lOs lloa l1lh
400 D.L&wl52h 1921 l52al5la 1891
500 D&RG A7A 47A 47b 46a AN
800 DM&FD l2h l2h l2 l2 l2h
S45 Erie R R Id ID ID ID l4h
$50 Erie lstp 81 81 81 3eh a7h
1eo EdiEI..l32h 1921 1921 laA
8ls Fw ADcs 9 leh leL - =
soaB&w 80 50 80
tao Gen Elec a6 36S a4S 34h aAa
1910 Hawai'n
os.... / 31h sos aos 81
1850 IlCent .1o6h 1865 1862 1861 o
1pb Ill steel. 4eA 4o] 4e4 DO 4e4
800 Ia Gen.. s4 g.. 81 Oh 8
200 Kc.P&a LEI 1919 le1 9 go
1oLE&wp 72h 7eh 72t 7lH 72
sou Lake shl7eS 100 l7eS l7oa 1s1
174o Lacl Gas 46 La d4la d6 A5k
so Lacl ap. 8 e3h e3h 90 90
1855 Lou q N 6 56s d 3d. 66
sos7o Man Conf 1867 17a 1861 1leelIeS
1lses HetstBy l45 l45a q l4d1 l4o
1856 Mich c..1oAa LOG lO4a loda 1864
go
The sun. [volume] (New York [N.Y.]) 1833-1916, 1898-01-25

Barley-Waa quiet. New feeding. 8G@36iac. cost
ity. Rye-Was dull. State. 50@5OAc. Corn-Spot
was dull. Tho sales were B2. 1000 bush. No. . mixed
on private terms FREQ on board afoat. No. 9 mixed
in store. 83ac.: do. in elevator. 3Sa.c. Futures de.
clined isc.. but recovered It. Future sales 280, 900
bush, as follows:
Sat.
May ......94 81 S87s 81 81
were strong. The sales were las. 900
bush. including 100, 600 heavy white. and 10.0oO
g white clipped on private terms for export. No.
z white. 5000, at 29iac.; No. 8 do, $4,000. at 29c.;
No. = white clipped. 2Si2c.: No. s no.. 2ec.: No. g
do. white. 2sc.; No. 9 mixed delivered. 21a4c.; track
mixed. 2s@2gLc.; do white. 10000, at 30a38c.
Futures were iec. lower at one time, but closed I'm.
Future sales $1,000 bush, as follows:
Sat.
Opening. Highest. Louest. Closing. NIGHT.
May ...,-.,2Sis 2Sis 2Sis 2sL 2SL
The sun. [volume] (New York [N.Y.]) 1833-1916, 1898-01-25
FINANCIAL AND COMMERCIAL.

new York stock EIchsnEo-sales Gan. %.
UNITED rArEs N STATE BONDS uN 81. ooos).
10 U 8 49, .1sao127bI g vaF deb a.ss
8 Va os def. trs of 1ee1.... 7OIa
CLOSING PRICES OF UNITED STATES BONDS
Bid. Asked. Bid. zsked,
IN st 2s,r. IN st d. c.
at pi Of q. loo - eao...l26k l2o
On st ts.r. Un st g..
1o07....112A l13ol 1904. ...l13p ll31n
IN st d. c. Tn st %. Q.
1907. ...114As 1141 1904. ....l1Ah lldI
On st a.. Tn st ss.
1925. ....127L l2S r. ls9p...1o3ln -
The sun. [volume] (New York [N.Y.]) 1833-1916, 1898-01-25
Equitable Gas Light
Company Of New York
The New York and
East River Gas Company
-,
PLAN OF UNION.
Gas NoDuIEp)
CENTRAL TRUST COMPANY OF NEW YORK
Depository.
PLAN OF UNION.

The undersigned. Depository under the plan o.
union and agreement OF September l, 1897, at thu
request Of holders of a largo amount OF its certin.
Gates of deposit and OF the respective boards OF dh.
rectors OF the Equitable Gas Light Company OF New
York and The New York and East River Gas Com.
pany, has deemed IL necessary and ~expedient to
modify said plan, as authorized by the seventh arti.
clio of said agreement, so as to provide as follows:
CAPITALIZATION NEW AMSTERDAM GAS ConrAsY.
CAS- now authoriEed)
First consolidated mortgage nve per
cent. gold bonds (e9, 900. 900 20 remain
in treasury 10000 o
Preferred stock nve per cent. Cumula-
tive (eI. 900, 600 to remain in treas
10000, 600
Common stock (ti 900. 900 to remain in
treasury Is. 600, 900
New bonds to bear interest from January 1, 1898,
and dividends on new preferred stock to become
cumulative after three Year, from November 1,
1897. All pronts or dividends on deposited stocks
to accrue to new company. Existing bond Issues
and certificates OF Indebtedness Gee. 600, ooo) to
remain untouched for present purposes, resery.
ing power. however. to hereafter fund or extend
same.
DsrRrBuTIoH NEW sEoURIITrs AMONG pHrosrruo
sTocKHoLDERs.
/. For each share 600 par value Of
stock Equitable Gas Light Com
pany;
10y In new nrt consolidated
mortgage bonds ........... olB0
d) In new preferred stock..... TO
C) In now common stock 7b
Equitable stockholders viii also 70
ceive o17b 90 per share in common
stock of new company to repre-
sent stock Of New York Carbide
and Acetylene Company now
owned by Equitable Company.l
9. For each share 600 par value pre-
ferred stock New York and East
River Gas Company;
In new bonds else
8. For each share 800 par valuo com.
mon stock New York and East River
Gas Company:
(a) In now preferred stock ...... 100
% In new common stock 40
The sun. [volume] (New York [N.Y.]) 1833-1916, 1898-01-25

The speculation in wheat to-day was moderately &C.
tive. Tho developments were in the main OF a bullish
character. and prices advanced sharply. The cables
were higher. Liverpool and the Continent bought
here. the markets at the West and Northwest were
strong, 4 cold wave was predicted, and shorts covered.
The report that the Italian duty had been reduced
one-third also contributed to strengthen the tone. At
one time there was a reaction on realizing. but prices
quickly rallied and closed at about the best figures of
the day. Liverpool advanced I'D. to lid. Paris
advanced sc. to &c. Flour there rose 40 to
bo centimes. Antwerp was quiet. The North
western receipts were 425 cars, against 535
last week and 1Sb last year. The worlds
shipments last week were 3, 076. 064 bushels, against
b,S3i 900 In the previous week and $500. 900 last
900 bush. The visible supply statement was about
as expected. showing a decrease OF 900, 900 bush.
Corn was quiet and about STEADY. The visible supply
increased 5 5000 bush. Liverpool advanced I'D. to
Id. The worlds shipments were 4,Gb4, 7l8 bush.
against D, s33. 700 in the previous week. Chicago
received 500 cars and expects so tomorrow.
Oats were dull. Prices declined slightly at first.
but rallied with wheat. The visible supply de-
creased $4,000 bush. Chicago received 29l cars
1.-THE market to-day was strong and during the last
hair hour advanced to 932. Foreign MARKETS were
better. while Italy reduced the duty about 80 per
cent. The visible decreased 8S5, 1000 bush. The
worlds shipments were 5.iT+, 900 bush. The amount
on passage decreased 720. 900 bush, and the English
visible decreased az, 900 hush. There was some ex-
port demand reported from New York and %altimore
about 100, 900 bush. In all. Coarse grains were very
fiat. There was selling Of long corn. The SHOWS and
FLoUR--Thc sharp advance In wheat gave "A 0rmer
tone to the market to-day. and prices were generally
DC. higher. Trade was fairly active. The sales were
10, 200 bbls,
The sun. [volume] (New York [N.Y.]) 1833-1916, 1898-01-25

Total sales. 5000 sharSa.
Daily capital journal. (Salem, Or.) 1896-1899, 1898-06-07
BONDS FOR THE WAR,

The senate haYing passed the rev.
enue bill with crrtain amendments,
the measure will go back to the house
for concurrence. 1t is probable that
the house will refuse to accept the
amendment for coinage of the silver
In the treasury. The bill will then
90 to conference, and probably the
senate will recede.
BY the terms of the bill, the secre-
tary of the treasury is authorized to
issue 5000, 100000 of coin bonds, and
800, 100000 in certificates Of indebted
ness. This is an unnecessary increase
of the interest bearing debt. The
war could have been vigorously carried
forward by taxing the small vices and
luxurles Of the people, by laying a
Just hand on the great trusts and mon
opolies, and by putting out $l5O,O00,-
600 or 100000, 900 of greenbacks.
Talk of making the bond issue a
popular subscription is "guff." The
masses of the American people do not
buy bonds. uThey need all their re-
sources for their business and re-
dustry. These 'bonds will 90 where
went the bonds OF the Cleveland ad-
mlnistration.- Spokane Spokesman
Review.i
Daily capital journal. (Salem, Or.) 1896-1899, 1898-06-07
The Northern Pacific

Railroad still continues the popular
route for eastern travel and now that
spring is opening up it becomes more
so than ever, The pleasant and COM
Portable accommodations furnished
passengers are proYerbial and need no
mention.The quick time made, without
change of cars is universally known.
The road trayerses the most magnifi-
cent belt of country in the world,
every mile furnishing constant seem
cry attractive and interesting, so
that the traveller goes through withs
out fatigue and reaches the journeys
end without realizing distance. All
through Washington, Idaho, Montana
Dakota, Nebraska and the other
states, the eye is feasted with scenes
pleasing and impressive, while no
sand storm, suffocating atmosphere or
other demoralizing discomfoGts are
met with. For tickets and full par
ticularS call on
THOMAS, WATT & co.
Salem, Or, Agents
Daily capital journal. (Salem, Or.) 1896-1899, 1898-06-07
THINKS WAR WILL AID SILVER.
Mr.. Bland Sees Hope for the White
Metal in the Trouble With Spain.


Mr.. Bland Sees Hope for the White
Metal in the Trouble With Spain.
Representative Bland, Of Missouri,
header of the silver forces in the house
believes the war with Spain a godsend
to the silver cause.
"I look for big victory at the
polls," said he. 1.-THE attempt OF the
Republican party to make political
capital out of this war will prove
futile.
"I have seen it stated that war
with Spain means the death OF the
silver issue. Bryanism and ali the
Democratic party stands tfor. Any
one with the ordinary allotment Of
intelligence can see the Democratic
party AID silver will by the winners
by this conflict. When we increase
our outstanding debt and further
obligations are incurred by the goY-
ernment 1t will be necessary TO in
crease the volume of money. This
can only be done by the coinage OF
the silver seigniorage in the treasury
or the authorization of a further pur-
chase of silver bullion. Congress
alone has the power to purchase ad-
dltional silver and to coinl the
seigniorage,
"rhe amendment proposed to the
revenue bill by Senator Wolcott, di-
recting the Secretary Of the Treasury
to coin the seigniorage In the Treas
ury, will pass the senate without
serious.opposition. When 1t comes TO
the House shall make fight to have
it retained In the bill. The seignior-
age now in the Treasury amounts to
about S42,tO0,00O, while the total
amount of seignoirage is about sl27,-
100000 To my mind 1t is necessary
the seigniorage should be coined.
"I hope also to see the bond pro-
vision In the revenue bill defeated
and shall do everything in my power
to accomplish 1t.
Daily capital journal. (Salem, Or.) 1896-1899, 1898-06-07
Corvallis & Eastern
R. K, Company,

WILLAMETTE RIVER STEAMER GAL
BANY"
This company is now giving an exceptional
service with the steamer Albany, plying be-
tween Corvallis, Salem and Portland and all
river points, and is running closely on the fol-
lowing time sched O..
DOWN RIVER.
Sundays, Tuesdays and Thursdays. Leaves
Corvallis 6.'3o a. m. Leaves Salem, Io:3v
am. Arrive Portland at p. m.
UP RIVER.
Mondays, Wednesdays and Fridays. Leaves
Portland 6 a. m, Leaves Salem 3::3o p. m.
Arrives Corvallis 40 p, m,
The Albany has been elegantly furnished
for the season Of 1895, and includes among
its fittings new piano Of fine tone.
Close connection is made by the Albany
with c. and E. trains for summer camping
grounds in the Cascade range and for the
famous Newport resort and surf baths on va
quina bay.
Connection is had Yaquina with steamships
FOR San Francisco.
The c. and K, Co.'S Salem dock, to which
has recently been added a waiting room and
cfice, is located at the foot of State street.
G. MAERTZ. Agent. Salem.
EDWIN STONE, Manager,
Daily capital journal. (Salem, Or.) 1896-1899, 1898-06-07

Women were not made TO rule the
world but rather TO ornament it.-The
New London Connecticut Day.
Does not the thought uttered so
chiyalrously owe its paternity to fear
that you may be ruled by women ?
Ornamental rather than potential
Therein his safety. Let them be the
rosejars OF fragrant meme rles placed
securely on the mantlepiece of our do
nestle hearth for US TO gaze upon aud
admire as any other Chinese vase.
Daily capital journal. (Salem, Or.) 1896-1899, 1898-06-07

Prof. w. ii. Stalker, of the State
Unive rsity, has been elected principal
of the Baker City High school and the
present efficient corps of teachers Is
retained. This latter policy is grow
Ing In favor with the people. Grow p
ing teachers, or teachers who even
hold their own In their chosen pro-
fesslon, should be kept In charge Of
the same school so long as they are
doing good work with the children.
1t is only by becoming we'll acquainted
with the children, and even their pa
rents and the neighborhood, sthat a
teacher is able TO impart culture and
TO influence the character OF the
growing generation, That teachers
shoud be upright, manly and
womanly in their public and private
life goes without saying. Familiarity
with the best books, passion for
learning for its own sake, aud a high
conception of the noble duty of deyel-
oping the faculties God has given to
every human beiug-are some OF the
Ideals without which the real educa-
tor does not exist.
Daily capital journal. (Salem, Or.) 1896-1899, 1898-06-07

There ls.food for thought, fertilizer
for the mind, and hard common
sense In this form the Woman's Pa
lfc Empire of Portland:
What this city needs is such an
administration of its affairs as will
make it possible for the laborlng man
TO own his home and to keep 1t. At
present the man of moderate means
can scarcely afford to buy property
inside the city limits. He finds 1t
much safer to rent than to invest
his savings in a home of his own.
Daily capital journal. (Salem, Or.) 1896-1899, 1898-06-07

At the time of the attack by the
Americans the La Socapa guns were
served by sailors from the ship, while
she was anchored In a position to
sweep the entrance the harbor. The
Spanish staff had connected with the
shore works several lines Of submarine
torpedoes. The torpedo boat destroyers
Pluton and Terror(Furor) with steam
up, were on the watch; several steam
launches had been detailed as scouts
in the navigable channel, and outside
the entrance Of the bay, and the
Oquendo and Colon were ready to
support the forts, the former flying
the pennant of the admiral.
Between and O'Clock In the
morning the scouts noticed two ves-
sells advancing toward the mouth Of
the channel, The fort at the same
time opened up just as the Merrimac
was we'll inside the passage. The
Spanish officers having allowed her to
pass the first submarine mine de-
fense unmolested, gave the signal to
the land batteries and the submarine
battery Of La Socapa, and the de-
stroyers and launches to fire on the
Merrimac, which was sunk, without
completely blocking the channel, just
as Admiral Cervera appeared on the
scene with the Almirante Oqnendo.
The cruisers boats saved the Ameri.
cans. Meanwhile the other vessel,
supposed to be the ship Iowa,
hastily retired. The Spanish suffered
no loss, and no material damage.
When the result of the Merrimac
affair was known in Madrid the
money market became animated,
while In polltlcal ana nnanclal cir
cles curiously conflicting impressions
prevailed, some fancying that the
successive failures of the Americans
might have the result Of making the
United States favorable to peace.
Financiers, on the other hand, are
diyided between patriot satisfaction
and the feeling that the drift of the
war means its proloDgation and Pc
cuniary sacrifices detrimental to the
Spanish credit, Most OF the news
papers attach Importance to the
affair since it was shown that the
forces are not only alert, but well
able to hold the enemy in check.