?YEW-YORK, TUESDAY, MARCH 22, 1881.
PRICE FOUR CENTS.
?? THE NATIONAL CAPITAL*
MATTERS OF PUBLIC INTEBEST.
SO PBCTSION AS TO AW EXTRA SESSION?MRTHUDS FOB
D1JIIM8HIXG TB? EVILS RBSCLTLXG FKOM THF
loccirr?Tai st? treaty.
The Pr?sident has not yet decided whether
' lie will call an extra session of Congress ; it
li believed that a decision will be reached at
the Cabinet meeting to-day, but the result
wjoy not be made public. The Republicans
gre divided in opinion on the subject ; but the
Democrats, as a class, think they see an ad-,
-Vantage to their party in an extra session.
The Entomological Commission, in its eecond
report on tbe Rocky Moan tain locust, speaks
hopefully of its extirpation and suggests
methods by which that desirable end may be
hastened. Secretary Kirkwood thinks there is
no danger of a war with the Utes ; the pro?
visions of the treaty with them will be en?
forced. Tbe State Department makes public
,sn interesting letter from the chief accountant
of the Bank of England.
TBE QUESTION OF AN EXTRA SESSION.
KO DECISION' ??G BEACHED ? WHY THE DEMO?
CRATS DERIBE IT TO BE CALLED?DANGERS TO
|DVTEI.F('.RArH TO THE TBtSCNE.I
Washington, March 21.?The question of an
extra session still hangs in a balance. Gentlemen
who have talked with the President to-<lay again
apon the subject say that he is unuecided, and that
le feels that the responsibilities of the decision are
very great. At the Cabinet meeting to-morrow the
Biatter will be determined probably, and it is possi?
ble that the pnblic may in some way be advised as
Eg to the decision ; notwithstanding it is uuderstood
to be the policy of the Administration tbat the pro?
ceedings of the Cabinet meetings are to be regarded
as State secrets.
? There are strong differences of opinion among Re?
publican Senators aud Representatives as to tbe
propeT policy, bnt there ie no difference of opinion
among Democrats. Outside of a narrow circle of
Democratic placemen who do cot wish to have a
called session, because, should Congress convene, a
few Democrat!? clerks in the lions? might cease to
?raw salaries dnring the snmmer for doing nothing,
the Democratic leaders are united in favor of an
extra session. They think that they see in it an op?
portunity to prepare tbe outlines of a policy upon
which the next congressional election shall be con?
Ex-Speaker Randall, who will be the leader of the
opposition, is reported to hare privately manifested
a good deal of enthusiasm over the possible prospect
that there would be an extra session. His argument
it reported in substance to be tbat an extra session
may possibly result m disturbing business and in
?startling the present prosperity of tbe country.
Continued prosperity means the perpetuity of Re?
publican rule, while in bad times Democrats are
more apt to be successful ; consequently, the Demo?
cratic hope lies in a_ extra session. This?in senti?
ment if not in language?is stated to be the private
?pinion of ex-Speaker Randall. It certainly is tbe
public opinion of some Democrats here who gener?
ally are shrewd in making political forecasts.
;? In tbe course of a conversation with a Tninrxn
correspondent to-night, Senator Frye said : " Some
time a?9 1 was in favor of an extra session of Con?
gress. Now, 1 am rather disposed to oppose it If
it were left to mo to decide, I should hardly know
which course would be better. If there could be an
extra session laslinc not more than a month, and if a
Funding bill could be passed in that time, it would
be a good tlrngaadno harm to business could re?
sort; tra? I very nnsefe. ?toot* whether that eenkl be
expected. If an extra session should be called, and
a Funding bill should be brought into the House,
Randall and Carlisle would use the caucus to make
the Democrats oppose it solidly, Unless the provis?
ions of the fifth section of the vetoed bill
were Included in it There would be a long discus?
sion, and I am afraid tbat at tbe end of it a nnmber
of Western Republicans would vote with the Demo?
crats for the anti-bank feature of tho bill. Then I
should expect to see efforts to provoke a discussion
of tariff qaestions. Besides, should tbe Republicans
attempt to authorize investigations of the Southern
elections, tbe Democrats would probably reeort to
tactics of obstruction, and no one could foretell
waen the session might end, for tbe Republicans
have so small a majority in the House tbat it would
be practically impossible for thorn to keep a quorum
of their own members iu Washington for any great
length of time.
" So lar as the party necessity for an extra session
on account of refundiug is concerned," contin?en
Mr. Frye, "we ought to take into consideration tbe
fact tbat the Qresnbackers are all on record as op?
posed to refunding at all. Therefore, their mouths
would be stopped agni.-st criticising the Republi?
cans for failing to do what they themselves declare
they are opposed to. Aa for tbe Democrat?, I don't
thiok it will make any difference whatever what
they may say."
"I understand th-.t Senator Sherman is inclined
to favor an extra veston," remarked the correspon?
"Yes, I believe he does favor it," replied Senator
Frye. and then be added : " 1 am going over to nee
the President this evening, and if be asks me for my
opinion in regard to an extra session, I confess I
shall hardlv know what to say."
. Controller Knox is very outspoken in regard to an
extra session of Congress. He expresses tbe fear
tbat if Conirres* should take up a funding measure
now there would be danger of legislation unfavora?
ble to the National hanks, while if tti? subject
should be postponed until next winter such a dauger
would not then exist.
CHEERFUL WORDS FOR WESTERN FARMERS.
HOW THE RAVAGES OF THE LOCUST MAY BK DIMIN?
ISHED?HOFES OF 119 FINAL EXTIRPATION?11E
PuKI OF THK ENTOMOLOGICAL COMMISSION.
IBT TSLKOBAPH TO THB TBIBUNE. i
Washington, March 21.?The second report of
the United States Entomological Commission, re
LMis^tO-tllSttOCky-hsuetaialooustaud the West?
em cricket will soon be ready for distribution, in
respect of the first-named insect, the report duals
With it In its winged state, describing its habitat,
?istology, etc. and discusses tbe methods whtch
lay b? adoptad to limit its ravages. Several chap
Urn of a purely scientific character are given, in
addition to a vast amount of practical and detailed
information gathered by members of the Commis?
sion fre?a personal investigation. Tbe result is a
*>?? detailed account than has ever before been
ft*?* of tbat portion of the Northwest which is
looked upon m the permanent breeding-ground of
the leenst The Commission urnes that tbe settle?
rs it? of this Northwest country be encouraged in
every possible way. as one of tbe most certain
means of periaanen?y overcoming the locostevil.
!? ?*^'^" '?""?d? ?? effect this,
__L S? beeocon??^bythe General Govern
C_L_?^ 1?????? ?4 detailed report on
t^JZeZSL^T"** *?? the Dominion
*3i^^Tm,n*,Mtad'?0dit ? Particularly
*re*dthst a permanent eyst?_ of observations and
wrings be isstUated by the ?^^?
AstW^iSiti?m_." ,r0a,4 qvmtioa t?e ?lus "of
?5L S, " the ?,??" ?"mu miaht
paWish w.th the increased power w.hsve mdicsted,
? to the movements ami flights of d*_t??!v?
P~?*? to tbe b^al Bureau ^"ff ??
. JUe^me?sslou expresse tbs opini,?, that, while
tbe pest can never be extermina,ed. it is within the
??G ??? 0???????? *** of 'he people to erme
?acoeasrallywith it. and the *,,??,?, Lc?unZ
.Paragraph is certainly very ene?nragina to the
?eopie of tbe West who have sraVred so terribly
**H-tb?s insect ? ??Tiuijr
tlon of the Northern raciflc. Canadian, Pacific, the Utah
and Northern Railroads, aad the consequent change in
the surface of the country, will so essentially modify the
looust situation ttant we believe tbe west
will never again suffer as in the past. . . .
?? ? ventnre t? predict the time will come when
tbe loesee from locust? will be only local, and comparable
with those inflicted by locusts and grasshoppers in tho
Eastern Atlantic States. At any rato tbe Western locuet
haa already ceased to be a bugbear and an object of
dread. Familiarity with Its habits and history has
already taught the pioneer farmers of Utah. Montana
aud Colorado that, with energy, Its ravages can he les?
sened, if not entirely overcome, and no one, Intending to
migrate West from the Atlantic States or from Europe,
need be deterred by the fear of sueh ularming luva
eious as have occurred In former years.
SOME OK THK MKX WH08K APPOINTMENTS IS CRGED
?TUP. NKW-YORK OFFICES.
IHT TE1.EURAPH TO THE TRIBUNK.I
Washington, March 21.?Among the candidates
for diplomatic appointments is General Philip C
Hayes, of Illinois?, who was a member of the last
Congress. His application for appointment is in?
dorse?! by ninety members of Congress and one or
more Senators. General Hayes at first desired to be
appointed Minister to Italy, but is now understood
to be a candidate for the Austrian mission. Hie
friends express considerable confidence that be will
receive that or some other foreign appointment.
Ex-Congressman Brewer, who is not in good
health, would be glad to recoivo a diplomatic rp*
pointuieut. and bis late colleagues in tho House of
Representatives, as well as the Senators from-Mich
igan, are anxious tbat ho shall bo appointed,
especially if Minister Cbristiancy shall bo rocalled
from Peru, an event which appears to be generally
regarded as probable. One of Mr. Brewer's friends
said to.day that, in addition to ins Congressional
indorsement, Mr. Brewer had recently received a
petition in his behalf signed by all tho Republican
members of tbe Michigan Legislature and by Gov?
ernor Jerome and ex-Governor Bagley.of that State.
It is understood that Governor Lewis Wallace, of
New-Mexico,expects to receive a Diplomatic ap?
pointment. One of his friends said tiwday that
Governor Wallace would be glad lo succeed Minister
Marsh at Rome.
An appointment which is regarded as probable, is
tbat of Colonel E. E. Sill, of Rochester, as Collector
of Internal Revenue for that district. Ex-Congress?
man Burt Van Horn is the present incumbent of tbo
office, and be is now iu Washington. Colonel Sill
was a Union soldier, and be is said to bo extremely
popular among tho Union veterans in North-western
New-York. Mr. Van Hum was appointed without
solicitation on his part and somewhat unexpectedly
to himselt by President Rayes.
A gentleman who is interested in one of the New
York appointments said this evening tbat in bis
opinion none of them will be made until next Wed?
nesday or Thursday at tho earliest. Ho said be
pr?dicat??! 1 this opinion mainly on the
fact thAt ho had learned that Attorney
General MaeVeauh, who went t<> Philadelphia
last Saturday, will not return until Wednesday
next. This gentleman regards it u? quite probable
that both Marshals McDnugall nnd l'ayn will be rc
appointed. Ho alsr? thinks it not improbable tbat
Cnloi:el Shepard will receive the appointment of
United Sutes District-Attorney for the Southern
District. He said that .ludgo Robertson is not a
candidate for that office, and tbat ho ia in favor of
Colonel Shepard's appointment.
UNCLAIMED MONEY IN ENGLAND.
? WARNING TO THK CREDULOUS? I ETTKn FROM ???G
CHIEF ACCOUNTANT OP ??? BANK OP ENGLAND.
Washington, March 21.? The Department of
State publishes, for tbe information of the public?,
the following letter, which was addressed to the
United States Consulate-General in London, re?
cently, by the accountant of the Bank of England,
on tue subject o? unclaimed estate iu England ;
Hank op Evo ?. and. )
Lnirnon. Feb. 2,1881. j
J. ?ICSN. etq.. Vice ContuUOeneral of the United Statte.
Sir: I am directed by the Governor lo baud you tbe
Inclosed nottOS of Alfred H. C. Prudeuce, notary publ'o
for tbe City of Ht. Louie. Mo., relative to unclaimed divi?
dende. In which bcnlera" ae to integrity, etc, by per?
mission," 1? the Hank of ???????. l?n.lon and Ulvertw-I.
Mr. Prudence was. ?a he ?tat???, formerly in ibn employ
of the Bank of England, and wae dleroisecd some years
since, but be is not authorize.? in any wsy
to use the name of trie bank ae a refer?
ence. From tbe terms of tbe notice, wbicb
was received from an apparently ooor woman in
Cornell, County of Livingstone, Illinois, It would seem
tbat these notices arc being extensively circulated In tbe
United Htale?. and this supposition le continued by the
fact tbat there bas recently been ? marked increase, m
the previously large number of groundleee applieetlone
for unclaimed montee received by the bank fron tho
United States. Nearly tbe whole of these application?
are. eo far as the bauli Is concerned, oascd on erroneous
data, obtained probably from very old lists of unclaimed
dividends, Which referred to funds long since reel timed,
or from the advertisements tbat appear when reclaims
are made. These applieatlone involve considerable ex?
pense to the supposed heirs ami miieb unnecessary
trouble and eorreepoeflenee to the bank ? and it it ?eie
possible to do anything to counteract the ?flier of such
notice? :m tii*? inclosed ihe OofTBOf Is of opinion that
it would be desirable to do so. I am. etc.,
b. O. Ghat. Chief Accountant.
Tbo notice referred to is a copy of a handbill pub?
lished by Prudence, in which be mentions bis em?
ployment in the bank, speaks of tbe immense.
amount of treasure awaiting claimants, of which
his connection with tbe bank afforded mm personal
knowledge, and gives the name, ot well-known St.
Louis and English firms as references, aiunnu them
the Bank of England.
NEW-YORK NATIONAL BANKS.
?HElft CONDITION AS BSPOBTBDTU Tin: CuNii.ul.i.i.u
of the ctmsKifCY os m Aitai 11.
Waphington, Marcii 21.?The following is nn
abitnict of reporte mods to tbo Controller of the
Currency, showing tbe condition of tin? Notional
Banks iu the City of New-York at tin eJoM of
business oti Friday, the 11th day of Manli, 1881,
tbe number of batiks being forty-seven :
Loeneand dlscounte.8225.646.872 ??1
Overdraft?. 68,328 88
U. 8. bonds to eeciireclieiilatiun. lw.'JTl MO 00
V.H. bonds to secure deposits. S2O.0O0 Oil
C ?. ?,????? on hand. 10,320.030 00
oilier ?lock*, bond?end mortgaaei. 10.076,216 - l
Due from Mattonai B.mke. 13608.110 34
Due from Htate bsnks and bankers. 3,1-15.634 Oil
Heal celate, tiirultiire und Hi tures. 10,105,818 '.'1
Current expans?e and taxe? paid. 012.582 64
Premiume paid. 675,030 24
Checke aud other caen l?eme. 1,835,671 83
Exchanges fur Clearing If ouee. 124.?42,73<? ??
Kmsof other Nailouul Hank?. 1,720,700 00
Fractional curiency. 40.075 83
Ooidcoin. 14.077.107 f?4
?joldTrcu+uryceitibeaie?. 4.825,300 ??
Gold C H. certificates. 30.hoo,imiii (Ml
Silver coin.-. 860350 B2
Silver Treasury certificates. fi8o,r>15 00
I>egal.tendcr not?e. 8,7~?,5?? ??
U. 8. certificates of deposit for leiral
tender notes.. 1,010,00? 00
Five per ?-nt redemption fund. 7*4.717 00
Hue from U. 8. Treasurer. 1.100,818 70
Capital ntocl-paid in. *50.?."?0.G00 00
Surplus fund. 18,584 884 02
Other undivided pruUui. 11,542,340 10
Amount outstanding (National Bank
notes Issued. It 15.1103,335. less amount
on band. $144,085). 15,540,250 00
Mate Bank ni)" s outstanding. 17 .-?I (10
Dividend?unpaid. 17.",.? H 70
Individual deposits. 805375,747 70
United States deposits. 861,629 w;j
iicpoeltsof U. 8. disbursing officers. 176,058 '.ill
Due toother Mattonai Banks. Ol.HOO.r.'jo hii
Due toStatc Bank? aud bankers. 20,803.071 00
THE TREAI V WITH THE UTES. .
the rnovieioNS t? ?? ?.m-mrchd?an ootbbvai
fnr tki.korai'ii to tiik thiocnk.]
Washington, March 21.?Secretary Kirkwood
does not think a war with the L'ics is probable,
although a state of affairs existe wbicb may create
some difficulty before it is disposed of. " Tbe shoe
.ia or tbe of her foot," he save, " and tbe Indians are
trying a little'sharp practice on tbe whites. Thev
?ay they ?lid not understand that by tbe terms of
thedresty which they recently ratified they pad
agreed to give up anything hut tbe mountain lands.
Thev supposed tbey were to retain tbe valleys of
their reservation for thoir own use. Tbey did not,"
tbe Secretary added, " put In this claim until after
a considerable portion o? the money payments pro?
vided for in the treaty had been made."
The commissioners appointed under the Act of
Congress to secure tbe ratification of tbe treaty are
to meet ftt tbe Interior Department day niter to?
morrow to receive their final instructioDs in regard
to carrying out the further provisions of the treaty,
orepaiatory to their departure for the Ute country to
armnge for tho removal of the Indians. Tbey have
represented ta the Secretary that every sentence
and word of the treaty was explained through
interpreters, over and over at tiresome length, and
tbat if the Indians did not understand it.it is useless
to attempt to make them understand anything.
Secretary Kirk wood says that where any latitude
ef construction is left open ho will seek to make his
rulings ana interpretations favorabU to the weaker
party ; but in this instance the language of the
treaty is explicit and there is noqnestion of construc?
tion. Tho Indians sold their reservation In open day
for a stipulated and fair price, and iu so far as the
Department is concerned its provisions will be
CURRENT TOPICS AT ???? CAPITAL?.
STANLEY MATTHEWe'S CHANCES.
WAfiniNCTON, Monday, March 21,1881.
A gentleman who ha* been investigating tho prob?
abilities of the confirmati on of 8tanley Matthews
iu the interest of a candidate who will contest for
the nomination in the event of Mr.Matthews's defeat
expresses the followingopinions as to Mr. Matthews'?
prospects : " He will be hung up for a long time in
the Judiciary Committee, when he will probably bo
reported adversely; Senator Lamar, alone of the com?
mittee, who has been earnestly fur him, voting in bis
favor. Ho will come into the Senate with this ad
verso report, where be will find the Republicans
very nearly equally divided for and against biro.
The Northern Democrats will bo united in opno
sition to him, and he will have in his furor twenty
five of the Souther" Democrat? These twenty-live
votes are likely tobe cast for him as long a* he has
any hope of snocess. Matthew*'* case will then
be very cluse, witli the probability of confirmation
liv I very small majority if the Southern Senator?
do not abandon biiu."
A KNIGHT OF THE WHITE ??.?G????.
The Stato Department has received notice through
the United States Consul at Bangkok that the
King of Siam, as a murk of bis satisfaction with the
description of his country in tho book upon si.-mi
anil Jara, recently published by Cslonel Thomas W.
Knox, lias conferred npon that gentleman the
dinliiina ami decorations creating him a Knight of
" The Most Exalted tinier of the White Elephant"
Colonel Knox is tbe first American upon whom
tho distinction ha? ever been conferred.
THE SESSION OF THE SEN'ATK.
Washington, Mnrch 21.?Tho Vice-Presi?
dent umiiiunrr? i the appaiata?? nt of Thomas F. liayarrt
us a director ol the Columbia Institution fur tit?.? Desi
1 ! r Vu t'-Prr-Mi'iit laid Itefore the Penato a cnmmnnt?
cation from the Governor ?if Mesaseis, transmitting a
joint resolution of the T^oglslntiire of that S'nte relative
to the death of Senator Ai. II. Carpenter. The resolution
was read and laid upon the table, and then, at 12:10
p. m., the Senate, on motion of Mr. Iiiirn?lde (It, I.), went
into executive ses-don. When the doors were reopened
at 12:45 p. tn. the Senate edJsBUasd
Iu executive session the Chinese treaties were reported
back favorably from tbo Foreign Relations Committee
to-day, and were pieced upon the calendar.
Tbe following additional appointment? of clerk? to
Senate committee* were made :
?opropnaUon*? ?. G. Cleave?; assistant clerk. Joseph
PublU l.andt?3. ?. Caldweil.
Jtesfroede? A. It Boteldo.
Contingent Erptnttt? Richard Lambert.
Washington, March 21.?The President sent
ths following nominations to the Senato to-?lsy:
Thomas Wilson, of the District of Columbi?, ;o be T'nlted
? ta ten corsiti at UhenL
Tbumas K. Itotiglass to b* PoMmaater at Man?ff etri, Olilo.
Charles Ksallngcr bibs Postmaster at Manltuwoc. Wis,
Firttt Lieutenant Edward ?. lliilit>*iJ, ?M Artillery, to be
Ca.italr arni Ami.tant yiartermjv.r.
Moses M. Hans, ot L tab. to be Hccrlver of Public Mnacya
?1 Halt I .al, e cur
Willtsm II. 11. Mewstlyn. of Nebraska, to bo agent for tb?
Indian* of the MeacSlero Agency, New.Mexico.
Il nello W. Berry to be Collector of Internal Revenue for
The President sent a me??a*e to tbe Senate withdraw?
ing tho controverted nomination of Captain Richard L.
Law to be a Commodore In tin- Vary, and also that of
OapSsMo ? O ton Hatxtnmtn t*ke swwS ? a Oaslssa Sa- Sta?
Narvj freni February 18,1R7?.
CONFI KM ATIOX3.
Washington, March 21.?The Senate in cx
eeutivu session to-day confirmed unanimously the ful
lowlne nominations :
Levi P. Morton, ?if New-York, to b? Envey Kitrsr>rt1ln?rv
and Miniai'r Pleulputeutisry to limite, vice Kdward P.
h. liana llorton. of nino. to b? Herrctary to the CaJtSd
Ktatea t'otninijuloDAra tu Hie Intimiti, ml Miuietary OSBfer
? DC? at I'atls.
Barron 11. Colt, t'nttel State? Districi Judge for anode
? liiert ?. ????**!, ? oUeOtSf O* ?.'uslnms fur the Ida! ? let of
A tu?-al?os. ???.
l-.rrtirrri, r Jlibllr .Vnn/i/# - It. II. ?irl filth, ut Des Moines.
Iowa; William II. donici?, .il liev.iice, .Neb.. Henry It. Tease,
?t Watert'iwn. I>ak.
J.f?nlrit ff lami <>f1?-ri lient) W. Pmght, Lagrande,
Oragua, Henry Cousias. Korwaca Axtasaa ,
Washington-, M ss day, Marci ci. issi.
The ColtSd Stutea aU-amer Y.tulle has arrived st the
Navy Yard at I*?irt*ainutb, V.l., alili the rem un? of
Passed A?*1?fsnt Paymaster U. K. i:i'i?-liman, late ?if IBS
Lniteit htates Navy.
Captata Koglaa, ef Ifew-Bedford, who has hut many
years' esperisse? in eossassad of a wiia mi? ship, was te?
day before lbs Naval Board arraagiag ibe detail? of tho
j'iinuei t'? h.iiiiii espedltioo.
M. Paul de Jardas,fer many years Chancellor of tbe
French Legation at Washington sad rsesBtly ibe French
?unsiil ut ('i:irle?ton. S. ('.. h.is been anpoinred by Ih??
lie en tloveriitneiit ,\t Agi-ut I? tort ? Iti- French ami
Ann nein IIalini Commi p.??? in plucn of ??. Arthur
Laset who returns toFratve.
Previotisto leaving the War Iteprirfment, Herret.try
RacDsey approvi ? a pimi for un AretK ezpeditkm to es?
rio.,?.': ? itaUoti at or nt at Lily Franklin Ifav. Ov.lng
to the opposition to the ex|iedltloa BsnUestsd by the
Wsr Dipartirli ni officials, Pcrretary Uoooln baa re?
opened tbe finest ion, with ? v.ew to iKortaroIng som?
sudi non al lacla on the saiijeeLsnd ?ic-iuuning the
pruciiciuiiny uf est?bil -bilia] me proposed peat
Sisi'i:ss?ON OF coal .MISINO.
?????. ADEL phi a, March 21.?Tbfl following
notice, Rigm-d by William II. .Johns. .John L. Gr.n-.ll. .lohn
MilUt-sunl It. C. Thomas, a CeBS?ltSS of the Sl.uyl
kill Coal Exchange, was Issued lu the coal opciutors of
Heltnylkill County t111? morning:
The nntharaeite SOSl uiterests have ?(freed to the
stoppage of eosl mliilniron the last three days of next
mi U; and tin- last tin ? e Mays of the week ' folliiWIlltr.
To carry out fully the ?pint or the, aareeroent, it is
essential that the. mining, hoisting, preparation ami
loading of coiti <;uilitg Ihose dav-t In- entirely discoli
trtraed; and it la earnestly hoped thai the sbove agree
inent for suspension will bo earned out by every one la
? <?? i? cl ly good laitlt.
BILLED BY A Falliso WALL?
RoCM-flMt, N. Y., Nardi 21.?A tliree-etory
brick building, 100 feet square. In Watei-st., owned Ity
Ha? Knesset Sf Hydraulic Oimpasy ami oeeapled for
manufacturing puipoaes, f, Il in rums at ?1:15 o'clock
this mot nine. The causo is supposed to have been ihn
explosion of a iony-hurse power storno botiti used for
besting the building. Joseph ricucii, hro twenty, was
killed msiaiiilv by a tuliln? wall. Four or live other
men we're tajarsd t>ut non?? fatally. After 7 o'clock
User? aroiild nave been twenty meu tu tho building. Tho
total loss ?? estimated ut 990 000,
HEAVY LOSS TO A BASK.
Kki:nk, N. H., March 21.-The. ?l?-fal?ntion
in the Ashuelot B.ivinits Rank, nt \\ inchc.iter, livery
heavy. Tbe indications are thai the lois will be more
thantloo.OOO. The commissioner has shown that the
hank'? ?Uteroont five years ago was false, which leave?
no doubt that the defalcation extends hack to that time.
Tbe treasur r has for many years deceived both tue
trustees sud the eomtninsioiier, and kept up tbe bank's
reputation, till bis doiugs were exiKised by tbe commis?
CRIMES ASD CASUALTIE8-BY TELEGRAPH.
KILLING A WO?AN FOB LOVE OF ???.
At'dt'MiA, Us-. March 21.?A negro name?! Paul
Lawsou klllnd s woman with whom be waa In love, in llurke
County, on Fi biay night. Lawson lias been arrested.
KILLRD BY AN KXIM.OIJINU BOII.BB.
Cr.BVKUND, Ohio, March 21.?A boiler in White
? Kuasell's mill St Mirtdlellt-ltl. Ohio, eiptode.l this muniln?
from an unknown cause, killing Juaeyi llamilioit. belUeu
Spragu? and John Pasotaio.
SHOT XT A BOBO. AB IH A ST?BE.
HarbisbubO, Penn., Marcb 21.?Last night, at
Hockervlile, near here, a man named Zimmerman waa shut
by burglara, who bad broken into a atura where lie slept. Tbo
parglars >sc?nll The woundori men is not fatally bark.
BIS BODY Vtil'ND AKT P. II MANY DAYH.
BaI.timokb. March 21.?Ibe hud y of Elus, th.
r*lore?l stew?rd ol the ??._? yacht CairU. w?icli was de.
?trovad by the explosi?n ol bet t?>l!ci on the night ol Peora
ary 1 lo thn city, was found neu the avene at ths esp?nalo?
THE NEWS FROM ABROAD.
THE FRANCO-AMERICAN CELEBRATION.
FRANCE CORDIALLY ACCKPT8 TBE AMERICAN ????G?
TION TO THK TORBTOWN FBSTrVTTIBS?A ?TJB
TIIKB TRUCK IN THE TBANSVAAL?B?TRBSeTON AT
President Grevy promisee that France shall
be represen ted at the Yorktown Centenary.
Mr. Gladetono intends to introduce the Irish
Land bill on the 7th of April. The Boer
armistice has been prolonged for a fortnight.
Numerous arrests have been made in St,
Petersburg. The French Cabinet ie to delib?
erate to-day on the Department Representa?
tion bill. The Irish Arms bill has received
the Royal assent.
THE YORKTOWN CELEBRATION.
PRESIDENT GREVY ACCEPT9 THE AMERICAN INVITA?
Ga ii is, Mondsy, Marcb 21, 1881.
President Grevy hae accepted the Invitation
of tbe United States Oovernment to send representative?
to the Yorktown Centenary Celebration.
In heading President Urovy tho autograph letter of
President Haye? Inviting theErencb Government and
people tosend representatives to Ike Yorktown Celebra?
tion, Mlnieter Noyce said he fulfilled this mission with
satisfaction. The American people cherished a grateful
remembrance of the part France took in the establishing
of American Independence. Tbe celebration of tho
common victory would loco much of Us interest and
lustre If tbe sisier republic were not represented.
President Grevy, In reply, expressed bis gratification,
and thanked the American Government for thue recog
idling tbe part the Presati people took in promoting
France having shared tho labor, would aleo share tbe
rejoicing, lie dwelt on tlm marvelous development of
the Uulted States during the century of m.leiiendeiicc,
mu? Bald France would tic represented at the celebration.
Mr. Noyes ? hanked the President, mid SOM the repre?
sentatives of Kranco would be tbu guests ot tbe United
Mr. No\. s will send a special invitation to M. Oscar de
Lafayette und tbe uieuioure of bis family lo attend ibe
??G? G????G.? DUOOKD.
The Cabinet to-day cuinn to no decision on IBS Depart?
ment Hetireicntation bill, and will meet again to-night at
Premier Ferry'? resldenco to endeavor to prevent or, at
|es?t. postilline a disruption, hm nothing final will be
done until the meeting at the El y Me to morrow.
IIU GLADSTONE'S PROGRAMME.
UNUM?, Monday, March 81, Itti.
In the Honse of Commons this alterroon,
Mr. Gladstone ?aid he hoped te make hie financial state?
mi ut on the 4.h of April, Introduce tho Irish Lanl bill
en tho 7th, adjourn the House fur the Faster bolid.iye on
the eVh. reassemble mi ilio 251 b, und on the same day
take ftie second reading of the Land bill.
Mr. Gorst, in view of the fact that Mr. Rraillitigh's
appeal will be ebortly heard, refrained to-dav from
pressing the sub| ci of granting a new writ for an elec?
tion in Northampton. Mr. Uiadlaugb bas nut offered to
The motion of Mr. O'Oonnoll that Dr. Flnyfatr, chair?
men of the foBjinittcc of the Whole, wa* under at. erro
ii'iniH Impression when he saepeaded him, wae with?
drawn after ? mill dl^me-don, and tlm virtual exonera?
tion of Mr, O'DonnuIl hy Mr. Gladstone aud Bir tiiafford
THE I?OER ARMISTICE EXTENDED.
Lonoo*. Monday, Marcb 21, 1881.
A dispatch to Retitor's Telegraph Company
from Ni wr.-ietie, dated to-dav, '?aye it Is rumored tbat
the Boere bavo agreed to all the llritleb conditions
exe. M one requ'rini them to ?".arm, Ae the armtetlce
?as to expire to-dav the iirltloi troop? were held m
readiness for an Immediato advance. Much siolioees
exists m the Ro.r ctmp. A let.t re le era in ?aye It is
reported Uial the armistice bae been prolonged fora fort?
? - ?? ? -
11?? RUSSIAN TRAGEDY.
!.. .M?os. Monday, Marcb 21. 1891.
The Prioce and Priucesa of Wales will start
for St, Petersburg to-nlgbt to attend tbe Czar's funeral.
M. Koehefnrt virtually admite tbat bis Nihilist tcle
?*???? sJU>hortea te Beve ?mue Irosa Geneva were eoe
cocted in Taris,
General Fednroff. Trerect of Ft. Petersburg, has been
relieved of the rum turns of tbat otllce. and Genere!
Count IlarnoofT lias be? ? appoln'ed toaaeeeed him.
The Riiaelai) Council of Minister.? hae decided to pro?
ceed lO'tin lietely with the coovooatlon of cotumleeions
io consliler Ihe representation of ilio people ou Stato
Ihe limes'* correepondent at St. Petersburg save the
pre-e aralu invoUee the aid of the European Powers in
MOHF. AttliFST?; IN ST. PKTCMBUBQ.
Ht. ??????????, Monday, Marcii 21, 188L
The newspaper? re|ii.rt uiiincroue arrests during the
la>t tew days. At the house or one of the persons cap?
tured tli? |H>!iei found 700,0 10 rouble?. [$900,000.] A
lutiti up? u whom was found srms, potaon and 20,000
roubles |f 10,000] was arrested laut night. It is etaied
that two dynamite stores have u-en discovered.
? RKVOLI ITIONABY I'Al'F.ll M8UKO.
1..IM...S. TiicHilay, Marcii 'J'J. 1<?S1.
The Dally Xeirs's Kt. Peter-burg correspondent Beys :
In BOBS) queue? ef th? laxity Of the authorities with re?
can? to the discovery of the mtne near the new Czar's
resili?OS a court of Inquiry ban been Instituted.
A n? w revolutionary -lie t bae been circulated, a?'
ilr - id to itn- ? in workmen,
Cyprete tree? bar* been nlanied around the et>.>t
where Hi'? ?7?G fell, alni ?iure 1 pinturee with lamp?
bulling before them have bet ? placed there.
TIN: LONDON LIUEL8UIT.
l.oM.iis. M'.udav. Ifarcb 21, If31.
The I/ivvsoTi-Liilioiuli' to libel COBO ?ai ro
sum. d In'lu? Court of Qusea'l ????? this mnrtilii},?. Mr.
I ?hnlichere cotitinti-d hH ?'??- ?? iminntlon of Mr.
Lawenti. On Its return from lunch the lOKnUB of the
jury counilained to Lud t'nief Ju-licc ladenden of the
tune of the Curl benigne?-unied l>> so much eros- exnin
Inatto?. Lord Coleridge seid that,bstanto a criminal
iirosecuiioii, he could not Interfere.
p,.? oroae-esamlnatli.f Mr. Laweon b* Mr. La?
bull? hen? bas b en ptincipally mi t o? luljcotof Improp? r
adv. . Ils? iiienls ?Indi liiiniollv appeared III Ihe ?kill?)
Telegraph. The Judge? remaras seem to teed rather la
t.ii ? "f Mr. I..illuneSei ? ,
ile standard eayi it t- > ' ?'? -d that Mr. o ader?os and
Bir ? lisi in l.iiWlid Will be c tiled as w KlieeScN HI tilo
Laboui lier? LtWf.nu ease,
CANDAHAR TO HE GIVEN DP.
j.iiMiiiN. Men toj. Mareb 21. IfSl.
In tin? II(iu<(* of Commons this afternoon
I.ord Ilaitlnctoii. Sccictatv of Mate for India, made a
statement to tho dl it Unit the Ameer, Abdurrahman
Khan, had agreed to take over Candeliar; tbat troops
from Catini sre ? ?liciteti tuere early in April; that tho
BUI?! are fatly prepared to lease, anil that several
t'Hhdadar sirdars have already will ten to the Aimer
oll'ttriiiK uieir alleatane? t? blm.
It istxnectfd that the (ioverntuent will have a large
majority In lie f\vr?r ?hen the House of l'uuiiuuui voie?
on ihe C indabar resolution.
Lonl Ilartiiigto.i, iu the IIoBSS of Common? today.
Staled thai an estimate received from India showed the
wareipeiiditure tothe nisi instant to be .??10,500,000,
Including 04,600,000 as the cost of ibe f routier rail?
way?. ^ _
FRANCE AND THK HEY OF TUNIS.
LOKDOX. Monday. Marcii 21, 1881.
The Paris lorriMpondent of The Manchester
Guardian eaye : " Now Unit the new Fruiteti loan le die
poeed of, the Government Intends to oct energetically at
Tunis. The Bey will he asked to satisfy the claims of
the Hociete. Mareeillalee and the Bone and Guelmn Rail?
way Company, with a threat of in ? porti ? ? lue. demand.
If licceesarv. by a military demonstration." The Joui-nal
dtt Debuts strongly recommends that course.
MORE IRISH MEETINGS.'
Loxno?t, Monda?. Marchai. 1881.
St?Teral land meetings were held in Irclaud
yesterday. Mr. Dillon spoke at the meeting at Wood
ford. County Galway. He ?trongly asperseli tho Irish
Juds-ee. . ? .
Tue Arme bill hae received tho Royal aeeont.
A CARGO NEAHLY DESTROYED.
8?pa.?Toi'tii., Monday, March 21,1881.
The British steamer Imbros, Captain Cooper,
from Cbarleeton February 8, via Malta, ha? arrived
here. Three thousand bal*? of her cargo of cotton bave
EDWIN BOOTH TRAISED.
London, Tuesday, Marcb 22,1881.
37/s Standard criticises favorably Mr. Hooth'?
?cttng both ae shytock und Filme?<? at tbe Prince????
Tboatro last night.
Ottawa. Murch 21.?Iu proroguing Parlia
meni toHlay tbo G??veinor-Gciieral suld tbat the Got
r&ment ?nl promote eetlvely immigration. H? expe ct
that rapid progress will he made with the Canadian Pa?
MOHTRBAL, March 31.?The Journeymen bakers ot this
city are agitating for aa increase of wages from 82 to S3
per week. The present rate is from $8 to $10for oral
nary men and f 13 to ?15 for foremen.
Tbe stock market was unsteady today.-wlth an ad?
vance o ? l ?j 1 u Bank of Montreal shares. ?
TURKEY 8TTLL DALLTING.
London, Monday, March 21,1831.
A dispatch from Constantinople to The Times'
says that at the Conference en the Greek question on
Saturday last tbe Turkish delegates submitted? new
proposal which had been suggested by the Ambassador?
by which tbe Turks made additional concession? tn
Tbessaly and cede Crete instead of Eptrua, Thie la
probably the extreme limi; that Turkey will cede to
Greece peaceably. The Ambassador? have referred tbe
proposal to their respective Governments. The Am?
bassador? consider this as a favorable solution which
might fairly be urged upon tbe acceptance of Greece.
A dispatch ?o The Manehnter Guardian from Constan?
tinople, by the way of Varna, says : " Anarcby prevails
on the Armenia frontier. The Kurts openly defy tb?
Turks. A priest is traversing the country, preaching re
hellion. The poimlar footing Is so strong tbat the
authorities are afraid to Interfere with him. A geueral
outbreak is feared."
A Renter dispatch from Constantinople eays : " It Is
stated that several Persian tribes, under a Persian
(?encrai, have crossed the fronlier toward Bagdad aud
pillaged several village?,
A dispatch from Athens to G?? Pfmes eaye: " Premier
Coumourdouro? declares that, whatever may be the statt?
of preparation, Greece must und will move promptly If
tin-propininoli of the Porte is insufficient, unless re?
strained by military pressure of the Powers."
? - s?
Panama, March 12.?There have been no
arrivals from the South etnee tho departure of tbe last
steamer for Now-York. Tho Pacific Mail Company'?
steamer Clyde, from New-York, December 27, via the
Stratta of Magellan and Punta Arenas, Costa Kica, ar?
rived in port the llth lost.
The reports that workmen employed on tbo Panama
Canal wld turc badly ore attributed to Jamaica plante:?
who fear that laborer? will leave them to come bere.
It Is reported from Guatemala tbat the frost ot Feb?
ruary 10 destroyed oue-tbird of the coffoo crop then
ripening, aud so Irjurcd the one in blossom that tt will
tic a complete fai. i:r... Over 100,000 tobacco plantain
splendid condition were destroyed ou a plantation at
The exportation? of Guatemala for the last year
anionnie.l to 94,435,08 57, which is about $200,000
less tint n the sum reported lor the previous year.
A successful am eut of the volcano LI Fuego ws? made
on Hie 13th, llih and 18th of February by Messrs. Vic?
tor Matthew, liuilleimo Wyld and Frauk Herman.
Groat tiitl'i tilty was found in tbe asceut, and still greater
in tin- attempt to return. The Indiani who aceompantc-d
the expedition positively refused to go beyond a ceriaiu
point, as they said Satan resided in the crater,and would
become angry at any intrusion, and probably shako down
the mountain asa punishment for their temerity. Tbe
crater was lound to be emitting buce volumes of sulphur
oiiH vapor aud smoke, snd only a favorable wind en?
abled 'lie party to reach the summit, and effect any
ooticrvatious ui tbat rogiou ol perpetual volcanic activity.
London, Monday, March 21,1891.
Italy has decided to construct another colossal iron?
clsd which will be superior to anything now afloat.
A land slip of about 20,000 tons of earth has occurred
near Folkstone, which has Interrupted trafilo on the
Ho p heastern Railway to Dover. Tao Interruption will
probably continue for several days.
Tbe British Steamer Llpls. Captain Wilkinson, from
West Hartlepool for New-York, before reported pnt Into
Ut-omnese, Scotland, with ber cargo shifted, has re?
turned to the lirst-uauied port for repair?.
Rumori are current in Parts of the recall of M. de
Bliguleres and the return to Egypt of Baron de Ring, tbe
French Coneul-General. The changes are supposed to
foreabsdow a revival of tbe old Jealousies between
Fiance and England.
FRAGMENTS OF WESTERN NEWS.
TAIT.OTtS DEMANDING INCREASED WAGES.
Cincinnati, March 21.?The Journeymen
Tuliors'Union, at a meeting held to-day, resolved to de?
mand an advance in wage? of 25 per cent, ami te require
an answer troni tbeir employers by Wednesday of this
BT.IMTTR-tC LIGHT COaWABT TIT PTHC?NTTATT.
Cincinnati, March 21.?The Cincinnati
Brush Kit-ctrio Light Company opened books this morn?
ing. All the capital stock, $150.000, was taken, and the
following board of directors elected : John Kyle, H. P.
Cluugb, John Morrison, L M.irkbreil, L. ?oaaougood,
J )Lu Ryan and Warren lUwson.
Bs>CL'BD FROM ??? ICE.
CniCAGO, March 21.?The tug-boat O. B.
Green, which wa? caugbi and Imprisonsu man ico field
during tbe storm of Saturday, whlu attempting to make
the cr.b. arrived there safely at noon today. Bilkbauser,
ti.e lug man who started yesterday afternoon over the
ice for the Green with a supply of provision?, reached
the ice-bound tug, and supplied tbe crew witb food.
TsTTura ru Mi'RDKit ins roma wifb.
Di'.TitoiT, Mich.. March 21.?A workman
named Uprlgut, of Montcalm Coun'y. shot hie wile in
tue ?ircela of eJtanton. on 8aturita.v alternnon. Two
bullets took tff-cc lu the woman's he id, and she will
doubtless die. Upright says mat she wa? unfaitftful.
but all the evidence gees to prove mat she was a true
wife. Ho is twenty-two years old. and nbe only uine
BREAKING His KBCB IN A FIGHT.
ClXCINXATT, Manli 21.--Lust night, at Riv
trstde, ?.n ?'vitviue southwust? ru precinct of this city,
AU.itn Beyer, the keener oi a liquor storo, quarrelled
?nth C. Meyer. Finally Heyer struck Meyer. Tho two
men suiugle?! about the floor till Beyer*? head struck on
n mineral-water box, breaking in? seek sud terminating
th.- contest Meyer wandered abouc tbo streets till 11
o'clock, \n : ? ? be gavo himself up.
?LOW SUICIDI FROM CONVICTION,
Iowa City, low?, Match 21.?Miss Hattio
Deal, ?? neter-in-iew m Dr. Aylwortb, of this city, hue
not caten a inoraci of food lor i ? cutvnio days, nor has
site spoken one word for tare? year?, rioo abstained
from fo*u on the ground that ? : trm her r.-iigiom dutv io
do so, and from talking lor the same ivasou. She is
? owly wasting away. Mis? Deal is uriy-two years of
agl'i anil has alwajr? been high.y respected.
KILLED UV AN' ARKANSAS CUV MARSHAL '
Bt, Louis, Marcb 21.?A special ?lispateii to
7/te Reputi lean fro? Cumin*. Ark., says: Wnitaiu
Foiey, .1 section foreman on the Iron Mimatala Railroad,
came into town yesterday with b*? men. two of whom
got luto a Ughi anil were mic-ieil by City Mai.Lal Lew
It r. Foley tried to rescue ids men frota ti e marshal,
.Mien the lit ?< r knocked hitu dews with bis pistoi Foley
then fired al Lewter, o_d icccnedfour shots iu retara,
tui.i. whieii be died.
CANADIAN FMlf.i-ANis AT cniCAGo.
CiucAoo, Marco !il.?/anadian, emigrant?.
Slung nun tin ir teck and uag&sss niuety-?a? cats, ami
numbering nearly '.'oo person?, bavo '.-oeu snow-bound
on the ouiskirtsof this cui sim-e Saturday nigut. About
WO ot tlieui c.iuie li out O.tawd Vadty, I".) are l'ttles
troni Renfrew In the Opongo distrtet, and tao remainder
are from Western Outara?. Tuey appear to be of a su?
perior class ot tanners, and are boiiud for Maimona.
In. y take with fheai nil kinds of farm stock, Includtug
soute blood horse*, thorougt bred cattle auu litio pigs,
aud a large amount of farming iiaplemeute,
ARKKSTED FOB HIS fl'ITIt'S MCKDBR.
Detroit, Mich., Manli 21.?Mrs. J. U. Scott,
whoiivetitiNeuii.es northeast ot Wiiliamsiou, Inguaui
Couuty, was foiiud dead on March 13, having, as was
supposed, shot herself. ? mie ?us found beside her
saying she had lived long enoiiga. Huapicioue of foul
play Nverc ?lei loped a day or two later, and. evidence
was obtained which led to lb? arrest to-day of John
Fin:., Mrs. Beoti'? brother, on a charge of muidcr. The
greatest txiiicuieut prevailed In tue community regard?
ing the a?alr. LHigutlon in regard to property was tbe
caino of Mrs. bcott's death, v,-be:h?.i? from suicide or
TELEGRAPHIC NOTES. '
JAY GOULD ON THE WAV TO FLORIDA.
AUGUSTA, tra.. JAareh 21.?Jay Gould has p-ifled
lir.nigh line on his way tu Fionda.
THK DELAWARE AND RAHITAN CANAL OPEN.
H'litiiKMnWN, N. J.. March HI.?1'he Dclsware
?ml ? ant tu l'anal opened here to-da; *ur navigation.
HKQl'lKM MASS FOB THK LATI'. CSA??
Pan "ha.ncisco, Maren '21.?At noon to-;lay
Itlahop Nestor, of the Greek Church, celebrated a requiem
masi fur the repose of the soufcut tbe lam Usar.
A arniKK?THBEATKNi.D IN NEW-BK?N3WIC1C.
NKW-BBUNfWiCK, N. J., March 21.?The Novelty
Rubber Company bas reduced the wages of employe? III per
cent, and uUj men and womoa tureate , to strike.
A HAILROAD BRIDGE REPLACED.
MoNTGO.mf.iiy. Ala., March 21.?'1 ho span of the
btl'ia??? at ni? Tensas Hiver, on the Mobile and Montgomery
itoati, wulch was wiuhad out on Friday, was replaced to-day.
CO M MIX RATION KKiTOltKD.
Rf.d Bank, N. J., Marcb 21.?'1'ao long bridge
crossing the ?Shrewsbury Hiver troni the Atlantic 0?>a?t to
tue HigbUuds, Nihlth was stifoptawsy by a ?torni, was opened
THE BURIAL OF A NAVAI. PAYMASTER,
NoiiFiiiJi, Va., March VIL?'l'ut: United Otates
steamer Yantic, from Halli??, ?. H., arrived at the naval
anchorage to-day, with the body ot Paymaster Jeorge hi.
Uaugumau. Tbe remalua will be bulled tomorrow.
?G????8 AT FALL RIVER.
FailRivkb, Mass.. Marcii 21.?The American
Printing company rang its bell this morning ano gavo the
employe? an opportuni: ' to return to wurk ai Hie old prices,
but the nieu refuse?! to do ?a The ?pinner? at the Chace Mill
struca this morning. In consequence ot the dlscharg? of
Ju?vpn Marian J. the ueaeorerof the Hptaner?' Union.
FAIR HAVEN 8CH00L MATTi?BS.
Fair Uavbn, N. J., Mareh 21.?It is reponed tc
mtht that the trust*?? of the white school bavo closed the
building fur repairs, it 1? believed that the trait?e? use th.?
a? a pretext to ?scape ??luduiug colored chUtlren. a? provided
by the school bill recsully pasted by the legislature, line
bill tofbids tfes exclusion of cidldren from tho publie schools
on account of race or color.
H AN AFFAIR OF NATIONAL IMPORTANO* * :
ISSUING THB BESIDUB OF NOBTRXBN FACIFIC COl?
BTON STOCK?THM ACTION THB RESULT OF I?
PRESENT HIOH FBICB OF THB STOCK?ANOTBMV
ELEVATED BAILWAT 6CBXHB IN BBOOELTN?THB
HEADING ELECTION. ?? i
A distribution of nearly $18,000,000 of
common stock has been made by the North?
era Pacific Railroad Company. The stock bae
been held in the company'? treasury
since the reorganization, and the Issue
adds nothing to the company's funds/
The distribution was made at the
earnest solicitation of the original proprietors,
who were entitled to it nnder tbe terms of
the plan of reorganization. The third Rapid
Transit Commission in Brooklyn yesterday
decided uDon routes for elevated roads. At
Philadelphia yesterday, George M. Dallas
filed in Court his report as master of the
Reading Railroad election of last week. A
decision was made yesterday in the United
States Supreme Court aflecting the title to
lands held hy the Chicago, Rock Island and
Pacific "wailroad Company.
NORTHERN PACIFIC STOCK INCREASED.
THE RESIDUE OF COMMON STOCK, AMOUNTING TO*
NEARLY $18,000,000 AT PAR, ISSUED BY THB
DIRECTORS?COMPLETION OK THK AMOUNT AU?
THORIZED BY THE ACT OF INCORPORATION????
REASON FOR THE ISSUE.
Tlie directors of the Northern Pacific Railroad
Company at a recent meeting decided to distribute.
tho residuo of the common stock, amounting to
nearly 180,000 share?, which has been held in tbe
company's treasury since the reorganization in
1H~~>. The subject o? issuing this stock was con?
sidered at tho regular monthly meeting of the
directors last Thursday. For personal reasons ?
quorum of the Board could not be kept together
until tbe next day, and the matter v.as left to tho
Executive Committee. On the following day that
committee voted to distribute the stock, and in ac
conianco with that decision circular letter? were
forwarded to tbe persons entitled to receive tbe
stock. A part of the stock bas since bo ? > issued,
and the certificates are ready for*deliv?ry whenever*
tboy shall be called for. This issue completes the
total amount of common stock authorized by tbe
plan of reorganization und by the act of incorpora
The reason for the distribution of the stock is said
by officers of the company to be tho anxiety of the
parsons entitled to receive it to reaHz?? their profits
at the present market value of the stock. The chief
opponent of the issue has been the president of tbe
company, Frederick Billings, who was unwilling
that the stock should be issued any faster than the
road was completed and accepted by the Govern?
ment The pressure brought to bear upon tbe
Board became so great that it was decided to make
tho distribution at once. The stock belonged, under
the terms of reorganization, to the original propri?
etors, but the issue was wholly at the discretion of
The Northern Pacific Railroad was sold under
foreclosure proceedings in 1875 to a purchasing
committee of the bondholder?, who organized the
present company 8eptember 29, 1875. Under the
plan of reorganization the capital stock of the com?
pany was fixed at the same amount aa was author?
ized by the original charter. It was divided, how?
ever, into preferred and common stock, the pre?
ferred being fixed at $61,000,000 and the common
at 040,000,000. The preferred stock was created
to retire the principal and interest dne to July 1.
1878, o? the outstanding bonds; tbe
principal acd interest to Jancary 1, 1875,
of tbe laod warrant bonds, and to pay.
the floating debt not protected by tbe order?
of the Court. Tho preferred stock was entitled to*
dividends not exceeding 8 per cent a year before
any dividends should be paid on the common stock.
The preferrod stock was convertible at par into any,
lands belougingto the company casi ot the Missouri
River in the State of Minnesota, and in tbo Terri?
tory of Dakota. Such conversion, it wa? agreed,
should bo an extinguishment of the stock. The
holder* of the common stock wen: uot entitled to
vote on it until nfter July 1, 1878. and were only
entitle?! to dividends in each year, it the discretion
of the ?lirectors, when the net earnings should ex?
ceed an amount sufficient to pay interest and sink?
ing fond on the mortgage debt, and 8 per cent divi
deud-on the preferred stock. The plan of reorgan?
ization then provides that " certificates of this stock
ubali bo issued to holders of. or to those uow entitled
to, certificates share for share; and the residue
ratnbly to those ongiually enti .led thereto or their
At the timo this reorganiz ?tion w.is completed tbe
residua of the common stock held in tho treasury
?roe about $20.000,000. It is said that the reason
it was uot thou issned was that it was thought ini
politic to issue tbe full amount of stock million/ ;d
when so little of the railroad was built. There was
an understanding between the directors and tbe
proprietors ot this stock that it should be issued
from time to time as tbe road was completed and
accepted in sections of twenty-five nitloe. Snoh
issues have been nade since the nsirsanization until
tberosiduef.ad been reduced below f 18,000,000. The
proprietary lights to this uiiHMied stock have been
?lealt in somewhat, and recently have bee? sold at
about 20 to 25. It is Mid byoBeersof tho company
fhat so loug as there was ne great diaereaes betweeu
the price of the privileges and that ui the stock the
persous ciuitle?l to receive it ?Ore content with the'
policy of the company in issuing the stock oniy on tho
completiou of twenty-live mile sections ol the road.
Hut ->ince tho large advance in fl??? pries of Northern
raciflc stocks these persons have b'rome more and?
more urgent to sccuro the stock itself, ami the large
?liliVrcnces between the price ol the privileges aud
that of the ?took.
? Ash bel H. Barney, a director of tb<* company, who
w is also a member of the Board in the Jay l.'ooke
days, said last evening : " 1 here was no good rea?
son why tlie persons entitled to this M?..-k -houM
uot receive it. I have always advocated the issue
of the Stock, althouiih 1 have been a member of tbe
present Board only eince tho last election. The
slock belonged under tbe terms of reorganization to*
certain persons, and to uo others. 1 here was uo
justice iu withholding their stock when thev could
get for their nghts not more than 20 or 25, while
others were getting for their issued stock
about jO. Tho original proprietur* claimed. I
believe lustlv, that we were d?priviug them of the
chance to realize a largo profit on what was tbeir
owe property. The only objection to the iasnowaa
the larvo increase in the outstanding stock before
the completiou of the road. Tbat was the objection
to the issue at the time of the reorganization, when
l think it should have been made, and that ha?
been the only objection since tbat time. The only
reason for making tbe distribution at this timo is to
enable the persons entitled to the stock to take ad?
vantage of the present high price ot the ataek?
"No; the action of tbe board whs uot instigated
in any way by the reported control ??? the company
by the Vtllard pool. In fact, if the lnouds of the
Oregon Railway aud Navigation Company bave se?
cured control of the stock, the distribution of the
treasury stock would be favorable to Inein, rather
Another officer of the company expressed great
doubt whether Mr. Villani nud his irieuda had se?
cured ooutrol of the company, aa thev coulidcntiy
claimed. He said: " There is certainly do indica?
tion in the books of tbe ooropant that the
control has passed from the hands of the preseu?
management. I do uot expect to go out of office at
tbe next election. Mr. Villani may him? a trunkiul
of the stock, hut we have no? proof ol it beyond his
claims to hold control of the stock. Tbe reason thie
proprietary stock was not distributed at tira time of
reorganization is tbat the stock was worth little
then, and it was thought tbe Issue of it
would be impolitic in view of the iin?n
iahed condition of the road. I tbink it
was a mistake to have the company*? stock list-.d
at the Stock Exchanges at New-York and Philadel?
phia so long us this unissued stock was hanging over
the market. The equity in this stock belonged,
however, to certain persone, but the directors had
toe absoluto power of issile. It has been issued
from time to time as the road was com?
pleted. and over $8,000,000 has been is?
sned ?inco tbe reorganisation. Recently the
clamor of tbe owner? to bare the whole residue
issued at once hae become so tierce that it could not
be resisted by the board. Tbe distribution of this
?tuck will be favorable to the Villard pool, for. It
we had bad any fears in regard to the control
of tue company, we could bave delayed tbe
issjirt uutU . ? few days before tue next
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