Search America's historic newspapers pages from - or use the U.S. Newspaper Directory to find information about American newspapers published between 1690-present. Chronicling America is sponsored jointly by the National Endowment for the Humanities external link and the Library of Congress. Learn more
title: 'The Charleston daily news. (Charleston, S.C.) 1865-1873, March 04, 1873, Image 1',
meta: 'News about Chronicling America - RSS Feed',
Image provided by: University of South Carolina; Columbia, SC
All ways to connect
Inspector General |
External Link Disclaimer |
VOLUME X.-NUMBER 2225.
CHARLESTON, TUESDAY MORNING, MARCH 4, 1873.
EIGHT DOLLARS A YEAR.
OUR HARBOR DEFENCES.
GOVERNMENT REPAIRS AND PRIVATE
Healing the Woonda of War-Repair?
ing the Ravages of Time-Fort Sum?
ter and Fort M o a 11 r 1 e-Artificial
Ol all the ugly gaps Indented In the Southern
coast by the collision ot a lour years' war, ard
ali the dismal wrecks lei t stranded on IIB ocean
battle-fields, there are perhaps none to which
attach so much of historical significance as
those contained In Lhe harbor and environs ol
Charleston, and there are few which have fur?
nished In their desolation such striking monu?
ments of the intensity of the conflict as Forts
Sumter, Moultrie, Ripley, JohnsoD, Beaure?
gard and Wagner, and the sunken hulls of
men-of-war which line the channel of this
harbor. For seven years these wrecks and
ruinB have now remained to tell the story of
tt e desperate fight tbat was waged to get pos?
session of this metropolis cf the South Atlan?
tic; but during the past winter the Federal
Government has begun the task of rehabili?
tating these delances, and of restoring the
harbor lo something like ila ante-bellum
beauty and completeness.
The most important portion ol this work of
rehabilitation ls the repairing of
and this was begun on the 6th ol November
last, under the Immediate superintendence of
Kr. Thomas Campbell. At that time the inte?
rior of the fort resembled a huge basin, with
grass-covered sides sloplDg sharply down (rom
the inner edge of the parapet. At the bottom
of the basin was a sheet of water several feet
In depth, from the centre ol wbicb rose the
old, historic flagstaff. The space occupied by
this basin was, prior tori war, a level court?
yard, used principally as a, parade ground.
The transformation occurred during the
the war, when the COD federates heaped Band
against the interior walls, for the protection
of the casemates from the Federal shells.
And now another change has taken place. A
laqjge quantity of this earth has been removed,
and the paving of the courtyard again partial?
ly restored io view, but ptesentiog a succ?s
' sion of hills and valleys, piles of broken brick
and rested guns and shot and shell. The old
flagstaff has been rooted np, and lies at length
across the courtyard, aptly representing the
Hate of the canse whose standard lt so long
upheld. Several rough houses have been
erected In the court jard for the accommoda?
tion of the laborers. There are no troops lo
the fort now. On ?Mering the fort
A BUST AND ANIMATED SCENE
Is presented. There are a half dozen carts ;
plying by mule power between the bottom of '
the conrt-jard up a circuitous road by the
parapet above. On the northeast angle of the
wall there are carpenters busy with hatchet and
eaw, bricklayers with trowel and plumb, men
carrying brick: and mortar, and others rolling
wheelbarrows laden with sand. On the north,
sooth and east lronts the upper tier of cace- ?
mates has been polled down and the wall
levelled to the top ol the lower casemates. 1
On the side of the lert fronting the city a por- 1
Hon ol the outer wall yet remains at its J
Original height, about forty leer, but the inner
wall and casemates have been already pulled 1
down, and the oater fragment will soon share
the same .'ate. A wide and deep trench has
been cut in the embankment, against the
northeast angie, so as to allow the workmen
to gain access to the bar face of the Inner wall.
The lower casemate? o i this angle are under?
going a thorough overhauling and repairing.
The roots of many of them were broken In,
and of others so badly cracked as to render
them dangerous. The Inner walls, too, ol
aevtral were, upon examination, found to be
defective, and were therefore pulled down
end r< built. The outer wall of the northeast
angle rises nineteen fee*, or about five feet
above the roots of the casenates at this point.
As soon as the repairs to ti e casemates are
finished, their roofs will be covered with earth
to the height of the wall, and the surface cov?
ered with sods ol growing grass. The inner
wall will likewise be strengthened by a cc7
ertng ot earth. Inside of this angle of the
fort, and adjoining its inner wall,
A KEW MAGAZINE,
thirteen ieet by six, will shortly be built ol
the stones and bricks now lying In piles about
the court yard. The southeast front ot the
fort was never provided with a lower Uer of
casemates, and the upper tier having been re?
moved lt is now without either. This side of
the fort being next to Morris Island was the
most battered during the war, but all the holes
and defective parts of the wall have now been
repaired to the height of thirteen feet. On
the parapet of Ibis wall several heavy Parrott
nans viii be. mounted. 1 be wall of tbe sou in.
iront has been extended outwards some thirty
or forty feet by means of the broken brick
taken from the interior ot the tort. This wall
will be .on a level with the one on the south?
east. It will be covered over with earth and
sodded like the rest of lhe parapet. The
whole'parapet will also be coped or paved on
the outer edge with a handsome gray stone.
There ls no work in progress oe lue north,
northwest, west and southwest angles ot lhe
wall at present, but lt is understood that they
will shortly be treated in the er.me general
manner as the other aogles.
. PORT MOULTRIE.
At Fort Moultrie, several carls and a large
number ot bands are also at work. This fort,
being without casemates, and having had the
exterior of its walls deeply covered with sand
by the Confederates, was very little damaged
by the Federal Arr, so that there is little or
nothing to be done in the way of repairing,
except in clearing away ibe rubbish that hos
accumulated within the interior. This work
has been pushed lorward almost lo comple?
tion, and the fort once more has the aspect of
an available fortification. The principal work
going on in lhe fort Is the construction of two
magazines, one of which Is fifty-four feet
long by inirty-two broad, and the other twen?
ty-two by Alteen feet. Both stand in the
'northeast section of lhe fort, and in adjoining
positions. Two more magazines ot similar
proportions are to be shortly commenced
within the opposite angle of the fort. These
magasines are made or ooncrele, composed of
.one part cement, three parts of sand, and Blx
?bf broken brick, wetted and mixed together
Into the consistency or ordinary mortar.
? shallow excavation has been made in the
eat th of the dimensions chosen for the maga?
sine, and three or four feet deep. This is
Ulled gradually with the concrete, which ls
powdered down with large square pestles.
Upon this foundation wooden moulds of lhe
aise and shape des red for the walls are put,
Into which the concrete ls poured and si rallar?
la: compacted. This concrete in a short lime
AS HARD AS STONE,
And then the wooden moulds are removed.
The Hops and sides of the magazines will be
further strengthened by a covering ol e
which will be sodded. The work on
Moultrie is under the superviBon of Ca)
Thomas F. Gleason, assisted by Mr. ']
Within this fort the manufacture of a
cial stone, lor the coping ol Its own wal
well as those of Fort Sumter, ls also cat
oo. This is an exceedingly simple and lt
esling process. A particular cement of 1
gli8h make is mixed with sand and dry 8
lime In the following proportions : Half o
sore ol cement, one measure of lime and
measures ot sand. The whole is mixed
gether while dry, and sifted to remove
coarser particles, lt ls afterwards sufSclei
dampened to.make a stiff mixture and put !
a strong wooden mould, in layers thre
lour inches thick, and pounded down v
wooden pestles. In a few hours lt is tur
out in solidi blocks and placed under a s
to dry, becoming in a short time as han
granite. The blocks made at Fort Moul
are four feet long by three and a halt w
and twelve Inches thick, weighing as mi
as freestone blocks of the same size. Tl
are of a beautiful gray color, with an exce
lngly fine grata. Three mea caa make tb
ol these blocks ia oae day. The process
French invention, and the stone is much u
la various parts of Europe.
DEEPENING THE CHANNEL.
Aa aaoouacement was made in THE NE
a few weeks ago that the work of remov?a
large portion of the Jetty which extends 1
the harbor from Sullivan's Island, oppot
Fort Moultrie, had been commenced witt
view to deepening the Mafflt Channel. T
jetty is a gigantic pile ol rocks, about set
hundred feet loog by thirty broad, and twi
ty-flve feet high at the outer end. It v,
built many years ago by an engineer nam
Bowman, to prevent the washlug away
Sullivan's Island. The rocks of which it
composed were brought for the purpose frc
the coast of Maine. C?ptala Griffin, ol t
derrick Uncle Knapp, was contracted with
by the United States Government to remo
the outer end of the Jetty, together with t
wrecks of several blockade runners which 1
near by. The derrick Is anchored close aloa
side of the Jetty, nod the rocks are lifted I
HUGE GRAPPLING TONGS,
operated by steam power. So far, boweve
C?ptala Griffin has been able to work only i
low tide, having been unavoidably prevente
from completing the proper arrangement i
bis grappling apparatus; bat he hopes soon l
be la a condition to work at ail stages of tr
tide. A layer of rocks, about four feet Ut lei
bas been already removed from the top of tb
first one hundred feet, at the outer ead of th
jetty. To do ibis, the workmen have bee
compelled to get upon the Jetty and laste
chains to the rocks, which 1B a decidedly ui
comfortable and laborious operation. It I
proposed to remove about two hundred an
fifty feet of the Jetty. The rocks which ar
taken up are plied upon the shore end ol th
letty. These rocks present a strange appeal
ance as they are taken from the waters, belo
covered with a luxurious growth of submt
rlne vegetation. A part of this vegetatloi
consists of a lera like grass, about four lache
loog, with leaves at varied and beautiful col
ars, yellow and red predominating. Wllhli
the folds ot the vegetation that covers th
rocks are swarms ot squirming creature
which caper about, and give to the surface c
the rocitB a lively look, suggestive ot fies
creeping and the nightmare. Variety is adde
by the presence of huge, bloated parasit?e
with Jelly-like bodies, resembling the cuttle
fish la color and consistency, some of wbicl
are a foot and over in diameter.
The town of Moultrlevllle 'ios grown will
extraordlnory rapidity Ia the last year. I
comprises aa irregular collection of houses
commencing at the extreme western polot o
Sullivan's Island, and extending fora mlle ant
a half to the east. The buildings are gene
rally ot the airy oottage style peculiar to sum
mer resorts. The piazzas ia many cases an
enclosed by Venetian blinds to keep out th?
glare which arises from the white beach In th?
hot Bummer time. Some of the residence!
are elegaatly finished, and all have a neat ace
tresh appearaoce. The principal street rum
east and west, parallel with the beach on thc
harbor side of the island. In some places ll
has good shelled sidewalks, bat the thorough?
fare ls for the moBt part ragged and sandy.
Along the upper edge ol the beach is EV long
row of bath-houses for tbe convenience of the
bathers la roblag for the battle with the sort.
There are twelve house" of various sizes la
course of erectloa la the towa. There ls also
A BRICK CHURCH
buildlog by the Catholics who resort to the
lslacd. The walls are Dearly completed to
their Intended height. The style Is Gothic,
and the building promises to be ooe of strik?
ing beauty. Some of the houses in process of
erection are handsome and commodious; one,
in particular, ls very elegant. This 1B three
stones high, and contains eighteen rooms.
The style ls neat and fanciful; the roof ls
pitched and crucllorm in shape, aod from the
centre rises a square cupola, with a pyramidal
roof. On the north side of the house ls a
large Elizabethan window, which stands in
the ceatre of the building, opposite the south
entrance. The apartments on the second
floor, belog intended for reception rooms, are
connected with each other by double sliding
doors. The sleeping apartments are upon tbe
third floor. The two upper stories are lathed
and plastered, and furnished with water?
works throughout. On the premises are out?
buildings, ia a style consistent with the ele?
gance ol the dwelling. From the floor of the
cupola above mentioned,
A BIRDS EYE VIEW
is obtained ol the town and the remainder ol
tbe islaod. To the east lor two miles or more
stretches a broad piala as level as a sheet ol
water, except on the north side, where a
ridge of white saud bills rise to aa altitude of
some twenty ieet aod form a continuous wall.
These hills are covered on their northern
slope with a growth of low trees, the famous
myrtles ol the Island. Oa the west Hes the
town, presenting a loog array of lautastic
shaped houses painted in many colors, a veri?
table Joseph's coat upoD a body of land. Ia
the ceatre Staads Fort Moul'rle, Its grim bat?
tlements addlog a cot unpleasant variety to
the scene. Outside the north wall of the lort
at a lillie distance lies a vast pile of old
brick, which wurkmeo are eugaged la break?
ing up for the concrete used In constructing
the magazines within the walls. The whole
would constitute aa Indescribably pleasing
picture, but for the one circumstance that
almost every house ls closed and uuoccupled,
aud the place ls la fact a deserted village.
This, however, ls the Moultrlevllle of tbe
wlaier, but Moultrlevllle ia Bummer
lime 1B very different. The dwelliogs then
are all tenanted and cheerful, the Btreets are
Ailed with saunterlug people aud fllttiDg vehl
I des, lae air 1B merry with the musical VOICBB
ol children at play, the beach is lined with
pleasure boats, and here and there are a party
of surf bathers buffeting with the waves.
810X8 OP PREPARATION
for returning summer are already to be found In
the laborers engaged In different parts of the
towD, repairing old fences or building new
ones, cleaning the remains ot last year's
vegetation from the gardens, and setting out
trees for shade, tor notwithstanding the
natural sterility of the soil composing the
Island, many residents, by dint ot fertilizing,
have succeeded in obtaining very beautiful
flower-gardens, and lt is safe to assume that
ia a few years nearly every house will be
adorned by its adjacent flower-garden.
The trip from Charleston to the Island is
even now a most delightful one, and amply
repajB for the time consumed in making it.
The comfortable Bteamer of (be Mount Pleas?
ant and Sullivan's Island Ferry Company
leaves Harket wharf at ten o'clock A. M , af?
fording a flue ride across the harbor, touching
at Mount Pleasant long enough to r.llow a
birds-eye view of that pretty village lrom the
Btenmer's hurricane deck. Arrived at Sulli?
van's Island, a walk of half a mlle leads to
Fort Moultrie, under the walls of which is to
be seen the tomb of Osceola, the gallantyouDg
Seminole chieltain who, brought a prisoner to
Charleston, died in the fort In 1838. The
gallantry and warlike skill of this young
chieftain won tor him the epithet bf the
Hising Sun. One cannot help thinking that
his sun had a dismal Betting. The attractions
of the Island and tbe town will consume the
remainder of the time until a quarter to Ave
o'clock la the afternoon, when the Bteamer
again leaves the Island and returns to Charles?
How Frenchmen Live
When the Frenchman in a cafe DH I a two of
the little slabs of white sugar iu his coffee and
the remaining two in bis pocket, it is not
meanness Dut economy. Tbe four consecrated
to the demi-tasse are paid for, and the pur?
chaser may carry them borne to the canary
bird, present them to the children of the con?
cierge aa a means of maintaining ploasant re?
lations with that person, or keep them tor eau
sucree. Lifo is not large, as in the United
States, where there is elasticity in the incomes.
Here they ore Axed-so much a year, month,
and day. The line about the budget of ex?
pense is rigid, especially in the case of email
rentiers, who ab J und in France.
The man ot three thousand francs a year
rides on the top of the omimbus for three
sous; reads the papers in ono of the amall
reading-rooms for tour sous; smokes ono or
two sous' wortb of Caporal tobacco a day in a
pipe; goes to the theetre onoe a week for three
to Ave francs, nod to the cafe chantant once or
twice, where his consommation costs bim ten
sous each tima; be eats two-franc dinners,
followed by that indispensable black coffee for
six BOUS, with one or two BOUS gratuites, atone
of the second-class cafes. 1'i.e obief part of
his time he strolls on the boulevards, looking
in at the windows of the people-never fa il m cr,
under any circumstances, to admire a pretty
woman -a-d in sitting in the public gardens;
all ot which is gratuitous pleasure.
The man of Ave thousand francs enlarges
thia programme, but tbe bachelor of twolve
thousand wants for nothing. Tbis Bum means
a anug little apartment of two pieces on a
street nmnine lo ooo of the favorite boule?
vards, with paliisandre tarni tore, each room
under tbe glamour ot one color-pale rose, sun?
set beams, azure sky, or what not; some good
books, a tew Ane engravings, perhaps a moder?
ately Rood oil picture, a bit o' onc-a brae In
in the way of bronzo and porcelain; a breakfast
of three or four francs, and a dinner of Ave to
ten francs at the Cafe Biche, Vochette, or tbo
club; cabs, theatres, Bois dc Boulogne, a nd kid
gloves at discretion. Trna ia tbe definitiou of
twolve thousand francs-fora bachelor. Twen
ty-Ave thousand for a bachelor ia an apart?
ment in tba Boulevard Malesberbe, au second,
with a coo.* and a man sorvant, a horse and a
oouoe, a box at the French opera, breakfasts
at home and dinners at the Imperial or
Jockey club; the dwelling consisting of Ave
pieces, with objects of art, one or two of some
value. Fifty thousand represents an apart?
ment au premier, with horses, carriages, valet,
footman, cordon bleu, a wine cell tr a
box at the Italian opera, dinners at borne,
with friends to eit them, the usual art bibelots,
a small gallery of paintings, and a good library
- everything that man requires in bachelor?
hood. Ii' any of theae single men were
doubled with a wife tbe expenses would bc
trebled, perhaps more, tho wants of woman
being au unknown qu tn ti ty. Tbo man of Afty
thousand would have to live at least like him
of twenty- five, and he in turn like bim of ten
thousand, which, accord inc to Frenchmen, is
the explanation and tbe justification of the
dowry system which prevails in France.
"Fietos Abroad," by Albert Rhodts, in March
Galaxy. _ _
IN THE HANDS OF THE DENTIST.
Tbe performance of preparing a tooth for
tho reception of the gold, after the decay has
been cut away and the cavity made ready, 1B
barbarous in lhe extreme. Imagine yoursell
seated In I be luxurious chair, with IIB head?
piece and foot-rest. Probably you have been
through the ordeal of having your teeth
M separated "-a divorce, by the way, wnlch
will baDish you from " bed and board " with?
out either lawyers or red tape, and ls effected
by wearing a piece of wood between the
teeth. It ls not unlikely to suppose that your
masticators are all sore, that you have not
eaten or slept but little lor the past week,
that your nerves are not over strong nor your
disposition more than amiable. Your tooth
ls drilled and cut until the cavity is care
nilly prepared, and your endurance almost
exhausted. The dentist leaves you to pass a
moment with the victims walting in the Iront
parlor, who have kept the door-bell in motion
lor the past hour, and, as each one entered,
caused your tormentor lo smile complacently
and display a set of ivories in perfect order.
(DenlUia always keep their advertisements In
an uti rac ti ve condition.) He relurna, and
then begins the systematic torture. A large
apron of rubber cloth ls tied about your neck,
while two towels are lucked around your
throat underneath. A piece of thin gutta?
percha, eight inches square is lhen torced be?
tween several of your teeth that ari J oin the
one to be Ailed. It ls carefully strained over
that tooth until the gum ls forced back to the
root. A silver spring ls then fastened below
the rubber to keep lt up tight. By this lime
your eyes are streaming teats, even should you
be a stoic A band witliflamps at each end ls
now thrown about jour chair, and the piece
of gutta-percha ls secured firmly al the sides
of your cheeks. Tour head feels os if lt vere
In avise. Makeup your mind lo remain In
this position three houra, wlih your mouth
held open by a strong hand, with the saliva
streaming down your cheeks, and with an
urchin holding a mallet and pounding lu the
gold as fast as the dentist places it. Denilsis
continually quarrel with lhe mailei-boye, and,
If ever there was a set ot Imps, lt ls these
heedless fellows. They will look the "other
way" and rap on the "sore spol" In your tooth
as If they were beating time lo a gallop.
They are lhe particular object of a dentist's
Ire, and provoke these exclamations: "Are
you going to9leep?" "Strike easy." "Look
what you are about." The patient ls power?
less to speak, and can only roll his eyes im?
ploringly as the mallet-bov seems to take
revenge on him. When at last the gold is all
in and'the filling completed, when the straps
and springs and rubber are removed, and you
take your paralyzed Jaws between your nanda,
and endeavor lo shut them, then do not sup?
pose you are to be released-you are JuBt
ready tor tbe "dental drill" or "engine,"
which ls lo polish the gold that is BO firmly
packed. This engine Is lhe most formidable
looking machine, and on lis first appearance
you shudder and conclude you are to be de?
capitated now for a certainly. This drill has
a reverse-acting spiral-spring, with a cord at?
tachment, ana a drive-wheel with a revolving
axle, into the centre ol which the drill-bit is
set. It ls made to revolve by lhe action of the
foot on a treadle. The blt ls placed next your
tooth, and the whole set In motion; while you
undergo the delightful sensation ol a file
whirling In your tooth, your filling ls polished
as bright as a mirror.
BEHIND THE SCENES AT MADRID
"SCRAPS OE SECRET HISTORY.
The Queen's Vow to tbe Virgin-Curl,
ou? Stories Concerning Victor Eman?
uel. Prince Humbert and Ex-King
Amadeus-Was.Montpensler tb? Astas,
.in of Prim J
[Correspondence of the N.T. World.]
LONDON, February 13.
An extraordinary story concerning tbe ab?
dication of King Amadeus cornea lo me from
so high a source tbat I am constrained to be?
lieve lt. It is to this effect: The Queen, as
every one will remember, was the Princess
Mary, the daughter of Prince Charles Eman?
uel dal Pozzo della Cisterna; she ls only twen?
ty-five years of age; she ls a very devout Cath?
olic, and she is the mother ot three children,
the youngest ol wbom, a prince, was born at
Madrid oaly a few days ago. Immediately
before the birth of this child., the young Queen
was In great distress ol mind and In very
alarming physical palo; and in her agony of j
mind and body she made a vow to the Blessed
Vu gio that if, through the mercy of God, Ehe
was brought solely through the perils that then
environed ber, she would beg ber husband OD
her knees to resign the throne of Spain and lo
hasten back to Italy. Her husband was pres?
ent when-perhaps in delirium-she made
this vow, and be uttered no remonstrance
against lt. Tbere Is no doubt that he has been
growing more and more weary of Spain for
several months, and tbe distress and anguish
of Iiis young wile, to whom be is tenderly at?
tached, prouably strengthened his desire to
get rid ol blB thankless task. Events which
happened alter the birth of the child-who, In
the opinion of Its mother, was given ber only
as a hostage for the performance 01 her vow
doubiess removed all hesitation which be
might have still felt. He and bis wife-despite
all his noble qualities and all her grace and
beauty-bad never been able to win over lo
their side the proud nobles of Spain. Just as
In Borne ihe nobility ol tbe highest rank,
with one or two exceptions, side with the
Pope, and reiuse to attend the court of Victor
Emanuel or to give any countenance to his
government, so In Madrid the grandees held
aloof irom "the foreign adventurer," as they
called King Amadeus, while their wifes could
not he Induced to appear in the train of his
wile. This alarmed and irrigated both of |
them-not without reason; btu they continued
to hope that In time the nobility could be won
over to their side. The King made a last ef?
fort to do this on the occasion ol the christen?
ing of ihe new-born child. He asked tbe
j Duchess de la Torre, the wile of Serrano, to
! present ibe royal Infant at the baptismal cere?
mony. She re I u sed wlih scorn, and tbe poor
baby woald have probably had to suffer the
Ignominy of being "presented" by a lady ol
low rank had not the widow ot Marshal Prim,
herself a duchess, consented to leave her
mourning retirement and perform the
(unction. I am told tbere was a terri?
ble scene In the palace that day, and
lt was Iben that tbe King finally yielded
to the prayers and tears of lils wile, and
made to ber ibe promise of abdication
which, as you know, he lulfllled on the 11th
of tuts monto. "It ls a great honor," said tbe
King tn his message lo me Cortes announcing j
his abdication, "lo preside over ihe destinies
of a country however disturbed. I had resolved
to keep my oath and respect the constitution,
lor I believe that my loyalty to Sp In would
compensate tor whatever errors might be
caused by my youth and inexperience. Bul |
my good wishes have deceived me. tor Spalo j
lives in the midst of a pernetual contest. If
my enemies bad been foreigners I would not
abandon the task, but they are Spaniards. I
wish neither to be the King ol a party nor to
act illegally; but, bul ie vine all my efforts to be
sterile, I renounce the crown for myself, my
sons aod heirs."
Toese are plain, sad and bold words; but
lb? Cortes listened to them with scarcely con?
cealed Joy, and ihe abdication was unanimous
ly accepted. There are wheels within wheels
-and, had the Cortes known all that was
In ibe King's mind, ihey probably would have
listened tu bis messugn with emotions of a
very mixed character. For I have as yet told
only one bait of my story. The King has ab?
dicated, it ls true, to please bis wife; but, If I
my Infirmants are correct, he did this all the ?
more willingly because he believes that by
Hiving up ihn Insecure throne of Spain he
makes a stride toward the throne of Italy.
Victor Emanuel's health is extremely precari?
ous, aud bis death at any moment would sur?
prise no one who knows him; the Crown
Prince Humbert ls the victim ol a nameless
disease which makes his Hie a burden, and
from which death may soon relieve him; and
his son-ihe four-year-old Prince of Naples
is in such a condition that his Hie can be
protracted only by something like a mira?
cle. Toese three precarious lives are all
that stand between Amadeus and the Italian
crown; and even should Victor Emanuel
aod Humbert die before the baby Prince ot
Naples expires. Amadeus would have a claim
lo regenoy which would be in fact a sover-1
elgnty. Tbe personal relations between Vic?
tor Emanuel aud Humbert are ot the most un?
happy character. The latter- whose vices tar
outnumber bis virtues-bas cherished a bitter
hatred tor his lather ever since the King, on
wuat be thought was his death-bed, married
the woman with whom he had so long lived
Ia adultery, and by whom he has been made
ihe lather of several children. Humbert wat;
not shocked by the sins ol lils father-he ls
lond of such Bios himself-but be was dis?
gusted beyond meaBure by bis repentance and
his reparation; and the other day, wheo the
King announced his wish to publicly solem?
nize the marriage contracted in private with
ibis wcmati, aod to elevate her to th? throne,
Humbert broke out into a tearful storm ol
rage, and not only publicly declared that la
such aa event be would leave Italy, but prl- I ,
vately Beet word to his father thai If be did I j
(his ming he would head a revolution to I j
depose him. Victor Emanuel, always
weak, yielded for the moment to these
threats, and nothing has since, been said
about the marriage. But I am told that what ,
he now desires is that Humbert should die; ,
thai he then should cause his marriage to be '
publicly solemnized and his "countess" called ,
queen for a day; that he then' should abdicate <
ia favor of Amadeus as regent or as klug. Se ,
thai to the Dersuasloas of me wile ol the lat?
ter were added the secret advice and prayer
of bis lamer io leave Spain and to come back
to Italy. Victor Emanuel greatly dreads dealh
BO loog as be ls at entally with ihe Pope. He
would withdraw lila government from Borne
to-morrow, aod restore St. Peter's patrimony I
to Pius IX, lt his Cabloet and Parliament | <
would allow him to do lt. Amadeus is a better
Catholic than either bis lather or hie brother,
and vague dreams float through the brain of I
the King of a reconciliation effected between
Italy and the Papal See wilh Amadeus on the
throne. This all sounds like a romance, you
will say; but l have reason-and thebeBtoll
reason-to believe that il Is all true. | j
Your correspondent at Paris thus writes me
under date of tho 12th:
"The iotelligeore from 8pain Is produciog .
?otease exciteraeut here. If: Amadeus abdl-1 j
eales aod revolution follows, the course whlob
Iis lrlends here predict, we shall Bee ihe Mon?
archical parly in France even more strength?
ened tuan 'twas by Napoleon's death. Fiance
will be warned by 8pain's playing the drunken
helot. Fusion will be cou?rmed and the Bo?
napartes made more willing than ever to
support the Monarchical party. Au imraeuse
exodus of priests aod wealthy families ls ex?
pected lrom Spaio ll the Republic be pro?
claimed. Tbere ls some reason to lear there
may be troubles ia Lyons aad la Marseilles ll
there be established a Republic la Spam. We
have beard every eveolng for the lasi seven or
eight days that a formidable insurrection has
broken out lo Lyons. There ls no question
the Communards are collecting on the Swiss
from 1er. ClUBeret and many Polish mill tory
adventurers confederated with him are known
to be at Geneva. Impatient spirits at Lyona
have for months been longing for insurrec?
tion, and lt is believed tbe menaced cbaogeB
In the municipal organization ol Lyons and In
the electoral law have produced a degree ol
Irritation In lhat city which the revoluilooary
leaders can no longer allay. Moreover, there
Is as much dlst.resB in ihe lower classes there
as there lain Paris."
I should add another fact to the curious In?
formation I have already given. It ls that,
shortly after Amadeus's first arrival at Madrid,
tolerably conclusive proof was placed In his,
hands that the plot for the assassination of
Prim was known to, li not concocted by, the
Due de Montpensler. The evidence against
the private secretary of tbe duke-a gentle?
man- wbo, I believe, Is now In the united
States-was perfectly conclusive, and that
against the duke himself wae very strong.
The news of Prim's assassination, lt will be
remembered, reached the King as he first
landed in Spain, and be was very anxious to
bring bis murderers to Justice. He wished
the duke to be Informed of the reasons tor
the accusations against bim, and to have him
summoned tor trial, but he was overruled In
this, as in nearly everything else. It ls for?
tunate that Amadeus bas gone. He did not
have a happy day all the time he was In Spain.
He bas al was been in danger of assassination;
he bas beeu twice shot al; he has been once
nearly poisoned, and a fourth attempt to kill
bim was made by throwing missiles from the
roof ol a building Jost as" be was passing it.
Had he remained, be would have lived in
constant fear and unhappiness.
In London opinion Is divided as to the
chances for the perpetuity ol the new republic
in spain. The Journals predict its speedy
downwall-but they have been saying the
same thing for two yearB about lhe French
Republic and lt still lives. In private conver?
sation many of our public men exoress the
belief that after all It may be found' that the
republic will be the salvation of Spain. Let
us hope so. PICCADILLY.
TUE OLD WORLD'S NEWS.
LONDON, March 3.
Disclosures of a most startling character re.
Bpectlng heavy forgeries on the Bank of Eng?
land bavejusl been made public. The billa of ihe
bank have been successfully counterfeited to a
large amount, and extensively circulated
throughout the country. Many ot the most emi?
nent firms in this city have been victimized and
have Buffered serious IOBS. The forgeries
were largely in Rothschild's name, and will,
it ls believed, amount to a million dollars.
Through the bills discounted by the bank a
large amount of American bonds have been
obtained on the profits of lhe forgery. Twenty
five hundred pounds reward la offered by the
authorities lor the arrest of Frederick Warren,
an American, charged with counterfeiting
American bonds to lhe extent of $250,000, and
alsowlih the bili forgeries on the Bank of I
LIVERPOOL, March 3.
A terrible disaster occurred yesterday on
the Rifer Mersey Involving a serious lons of
life. The ship Chacabnco, lrom San Fran?
cisco, collided wlih the Dublin steamer Torch,
which had just lei t port. The vessels struck
with great loree, the Chacabnco sinking al?
most immediately. Twenty-five persons on
board the ship went down with her, includ?
ing several seamen who embaiked at San
Francisco. The Torch was also Bunk, but all
on board of ber were saved.
PARIS, March 2.
In the National Assembly yesterday tbe dis?
cussion relative to the ministerial responsibil?
ities of the Executive was resumed and con?
tinued at length. M. Dufaure in addressing
the Assembly laid great stress on the previ?
ous declarations made by President Thiers re?
serving io the executive power certain rights
and privileges which be claimed as due to
him for a proper administration of the gov?
ernment He maintained that the Govern?
ment of France was a Republic, and that tbe
interests of the people required united action.
Aller a close and exciting debate the Assem?
bly, by a vote ol 419 against 200, decided to
discuss the proposals submitted by the com?
mittee of thirty.
MADRID, March 3.
The Ministerialists are coulerrlng with tbe
Radical members regarding lhe dissolution of
the Assembly. Tbe citizens are organizing,
regardless of politics, for the mutual protec?
tion of Hie and property, as trouble is antici?
pated alter the dissolution ol the Assembly.
The majority of the Spanish Assembly are de?
termined lo pr.ss the bill abolishing slavery
beiore its prorogation.
Ahe Carlist disturbances are increasing.
The advices from the districts of Catalonia,
Alica tte and Murcia say the movement ls
rapidly spreading. The people are dissatisfied
with the government and are )ololng the
Carllat tanks. The government troops at
Catalonia have become insubordinate and lt
is apprehended many may desert to Join (ho
Carlista, who claim that they have now a total
force of thirty-five thousand men In the
The Spanish Government will shortly call
for a credit of four million pounds sterling to
arm ./ihe volunteers and enable tbe govern?
ment to continue the war against the Carlista.
ROME, February 28.
The Pope to-day received a deputation ot I
clilzens of the United States. Mr. Glover, of ?
New York, read an address. The Pope replied
with hearty thanks. He said that he would
always pray for tbe country so particularly
blessed by God with facility of soil and Indus?
trious Inhabitants, and be would ever pray for
an Increase of Its blessings. He boped, how?
ever, that material things would not become
Ibe sole affection of tue American people, for
excessive love of riches corrupted lhe heart.
ST. PETKRSBGRO, March 3.
His Imperial Highness, the Grand Duke
Nlcolaevltcb Constantine, bas gone to Tur?
key on au Important mission connected with
lhe Ehtvan question.
Cotton Snips Arrived Ont.
LIVERPOOL, March 3.
The ootton ships Esparanla, Musher, Beta,
from New Orleans, and tbe Georgiana, from
Charleston, have arrived here.
THE WEAT MER TUTS DAT.
WASHINGTON, March 3.
Probabilities: For Tuesday, In the South
Atlantic and Eastern Cult States, rising bar?
ometer, northwest winds and clear weather.
Por the Middle Atlanlic coast aod westward
;o the Alleghenies, fresh northwest winds,
lartly cloudy and clear weather, with lower
emperature. For New England and New
Torie fresh and brisk north and west winds,
jloutly and colder weather. For the lake re?
vlon and upper Mississippi Valley, rising bar
>meter, northwest winds, rising temperature
ind partly cloudy and clear weather.
Cautionary signals are continued at Wilmlng
.on, Norlolk, Cape May, New York, New Lou?
don, Boston and Portland, Me.
JOTTINGS ABOUT THE STATE.
- Mnjor Wm. B. Maxwell, a late resident of i
Georgetown County, lately died In Mississippi,
-The new building of me Aiken Lyceum ls
-An amateur theatrical performance at the
Highland Park, last Tuesday evening, was
nuch enjoyed by a large audience.
-Captain James R. Ma 111, ol Lancaster, bad
ils left leg broken Just above the knee-Jolur,
ast week, by the wheel ot his heavily-loaded
wagon passing over lr.
-The following officers were Installed in
Aiken Division, Sons of Temperance, No. 12,
ast Thursday evening: Rev. Geo. J. Griffiths,
W. P.; A. W. Morris, W. A.; C. M. Maul, R. 8
El. B. HUI, treasurer, and Henry Bmyzer, Jr.,
OUR SOUTH ATLANTIC NEIGHBORS.
-A Macon negro fled from the smallpox
hospital and died from exposure.
-Mr*. Polly Haygood, mother of Bev. F.
M. Haygood, died at Macon on the 25th ult.,
aged eighty-three years.
-A Jasper County Jury in a murder case
bas been out five dave without agreeing on a
-This Is the way a negro woman in Collins?
ville roasted her baoy last Thursday night.
She smoked a short pipe wbile rocking the
baby to sleep, wrapped tue Infant up tight in
a quilt, and then went out to the yard to finish
her washing. She got back Just in time to
save the bedstead.
-Tarboro' claims to be making rapid strides
toward the dignity of a city.
-It is rumored that ex-Governor Holden ls
to be appointed postmaster at Raleigh.
-A lad twelve years of age, tbe son of John
W. Holbrooks, of Wilkes County, hnng him?
self a lew days ago.
A SCENE Di THE SENATE.
THE LOUISIANA WRANGLE IN TBE
Warmoth Among the Watchers-The
Chairman Caught Napping-Smoking
aud Joking-Snores de Pro fund??
The Fight Over the Bili, ?ic.
WASHINGTON, Febuary 28.
The Senate remained In session all of last
Dight, not adjourning until eight o'clock this
morning. Just seventeen hours were spent
in the discussion ol tbe Louisiana bil!, and,
as is not unfrequeutly tbe case with the Senate,
lt was Just so much time tbrown away. The
scenes attending tbe debate last night were
not unlike those wblcb are usual on euch oc
casloDB, although lhere were some new and
rather striking features. There was not the
bitterness ot party feeling which has oiien
been exhibited when acknowledged partisan
measures were being put through under ibe
crack ot tbe party whip. But for all tbat the
discussion, was exceedingly lively and ani?
mated, and ihe tills which Messrs. Carpenter
and Morton ran against each other were as
sharp as wheo political opponents meet In
the clash of forensic conflict. As tbe hours
wore on ihe galleries, which were very much
crowded In the earlier part ol the evening, be?
gan rapidly to thin oat.
SHERJ?AN UPON WARMOTH.
Governor Warmoth eat near Messrs. Trum?
bull and bchurz, never flagging la tbe inter?
ested attention he gave the proceedings
through all the long watches of the night.
Mr. sherman displayed quite as mach bitter
cess as Mr. Morton. Njt once, but several
limes, he stood up, and pointing his finger at
Warmoth, he denounced him personally ae
the embodiment of fraud, corruption and all
known and unknown vlllaaies. The view
taken by Mr. Conk ling In favor of the Kellogg
governmeot was exactly what was expected
irom bim. Mr. Bdnunds on this occasion
seemed lo divest himself of all partisan con?
siderations, and surprised every one by the
extraordinary force and clearness with which
be demonstrated tbat ihe McEoery govern?
ment was the only prima lacie government,
and the only one which could be properly
recognized. An hour or two after midnight,
the galleries having become almost entirely
deserted, a relaxation of the formalities Inci?
dent to the proceedings of legislative bodies
was soon perceptible, and senators abandon
doned themselves to personal comforts aod
enjoyments without reserve.
SENATORS IN THEIR GLORY.
The great body left the chamber and betook
themselves to the retiring rooms from whence
tbe loud laughter drowned out the voices of
those on the floor who were Breaking to the
bill. Mr. Carpenier, who had the bill lu
charge, remained mostly lo the chamber, aod
consoled himself by lighting his cigar, min
?;llog Its smoke with the great puffs that came
rom out ol the retiring rooms. It would have
been difficult for aa unsophisticated stranger
to compreheod tbat la ibis manner the rights
and HOerileB of the people of agr?ai Commou
wealth were trembling la the balaaee. Mr.
Ferry, of Michigan, who was Ia the chair,
weat sound OBleep, and had to be twice
awakened by the secretary to put motions that
A SENATORIAL SNOBS.
The great Michigander, the Hon. Zachariah
Chandler, stretched his burly lorm at lull
length on the sola, and the deep sonorous
emissions from his nasal organ penetrated ihe
length, breadih and height ot tho vast cham?
ber. As "Old Zach" was concealed by a
screen In front of his sola. It was some time
bet?re ihe source of tbe noise waa discovered,
and lt was humorously suggested that a new
committee of Investigation be rained lo ascer?
tain the cause of ihe commotion. Finally the
great Michigander was unearthed, and a vig?
orous punch la the ribs quieted bim for a
ebon time, but a lillie while alter he was
olowing off steam more lustily than ever.
THE CONTEST OVER THE BILL,
The effort to amend the bill by providing
lor tbe continuance ol the Kellogg govern?
ment until the new election should be held,
failed; but, alter some mysterious caucusslng
around, Ibe amendment was renewed, ano
was put on by Mr. Carpenter's own vote.
Had be voled io the negative, lt would have
resulted lo a tie, which, of course, would
have lost the amendment. ThlB action of Mr.
Carpenter might well excite wooder. Only a
lew hours before be bad Blood up lo his place
aud exhausted the vocabulary ot the Eugllsb
language In deecriblag the superstructure of
usurpation and fraud on which the Kellogg
government was reared. He bad asserted
that, ll lett unsupported by Federal bayonets,
thot government would be evanescent as a
breath, and he had scouted the true Idea that
the seal of congressional approbation should
te affixed to lt. Yet literally eallog bis own
words, he turned around aod voted to the
very thing be had vebemeutly asseverated
there woutd not be the least shadow ot Justi?
fication tor doing. When, by Mr. Carpenter's
own vote, this provision waa put on to his
bill, Mr. Morton made no attempt to conceal
bis intense delight. He had been fighting
Kellogg's cause, aod be bad wou.
THE DEMOCRATIC SENATORS,
who had scarcsly taken aoy part la the debate
up to Ibis lime, had good grouod for the Inti?
mations which ihey threw out of want of sin?
cerity on ibe part of Mr. Carpenter. The fact
that after the adoption of the amendment Mr.
Carpenter, with Mr. Morton and Mr. Cockling,
seemed to take no further Interest lo the mat?
ter, gave some color to the supposition. Ol
ibe four members of tbe committee who re?
ported the bill not one but Mr. Carpenter
evloced tbe least interest la lt. Mr. Anthony
voted for every ameadmeat offered. Mr.
Logan took no part lo the debate, scarcely
ever took the trouble to vote, and Mr. Alcorn
?vent home early la the evenlsg. When all
that was of good la the bili had beeo destroyed
by the adoption of the amendment, lt was evi?
dent that the bill was destined lo fall. The
Democrats and Liberal Bepubllcans could not,
if course, vote lor lt, aod Mr. Morton, with
ila followers, did not of course want lt to pass.
Ur. Bayard briefly but powerfully arraigned
we Kellogg dynasty, which lt was evident, If
:he bill passed, was to continue to hold the
re?as of power ia Louisiana.
THE BILL REJECTED.
A Utile before eight o'clock this morning
Lhe vole was taken on the passage of tbe bili,
?ind, as was anticipated, lt was rejected, ibe
Democrats voting solidly against lt, with one
exception, Mr. Machen, of Kentucky, and Mr.
Morton and bis extreme Radical following,
being on ihe same Bide. Edmunde, Schurz
ind Hill did not vote. Mr. Murtoa was so
anxious to bave Its rejection announced
that he could scarcely be patient long
enough for the clerk to count tbe vote,
[f the action of last night is not reversed, it
will afford a color of pretext for Plncbhack to
claim a seat In the Senate on the 4th of
SPARKS FROM THE WIRES.
-Blaggold bas beeo confirmed as postmas?
ter at New Orleans.
-Extremely cold weather prevailed through?
out the Northwest last evening.
-The amouot of the delalcatlon In lhe New
Orleans posioffice le DOW staled at about
-The Modoc war ls ended at last, the
troubles ol the tribe having been amicably ad?
-A number ol New York detectives were
seat to Wauhiogtou yesterday et the especial
request of the authorities.
-Christian people who have visited the In?
auguration ball-room have been shocked by
the sacred legend "Ecce Homo" ever Graot s
seat at the bail.
-Talmage was preaching In Brooklyn OD
8unday evening when the cry cf "fire" was
raised. Amid the panic that ensued eeyeral
persons were crushed.
BEATS OF GENERAL EDWARD JOHN?
RICHMOND, VA., March 3.
General Edward Johnson died here yester?
day. He served with distinction In the Florida
aod Mexican ware as an officer of the United
States army, aod, during the late clvli war.
Hoked his fate wilh lhe couth. Hla remalus
are lying la state la the capitol, aod the funeral
will take place to-morrow afternoon with
both military and clvlo houors. Deceased
was fifty-seven years of age.
TILE LAST HOURS OF CONGRESS.
Preparing for Adjournment-Tne Ap.
| propria tlon Bill-Senator Posa?*??
WABHINOTOK, March 3.
Toe city ls full. Congress ts rustling mat?
ters. Its business ls confined te tbe appro?
priation bill, with good prospects of pass?
Tbe Vice-President laid before tbe Senate a
dispatch addressed to him from John Mofinery,
claiming to be governor of Louisiana, and an?
nouncing the election ol William -Ti McMillan
as senator lrom that Butte, adding mat his
credentials had been forwarded. West said
tnat while he would not object to the receipt
of the credentials lt regularly presented, he
must object to the receipts of the irregular
ooildcauon. Edmunds thought it was In the
nature of a petition, and must be received as
such. Trumbull did not attach much impor?
tance to the matter, but thought it ought to
be received. Morton declared the dispatch as
being merely an announcement that McMillan
had been elected by a mob legislature, and
did not think the Information important if lt
was so regarded. It might have been sent io
the Evening Star, but certainly it had no busi?
ness In the Senate. Sherman moved to lay
the communication on the table, which waa
agreed to. The bil! making an appropriation
for the payment of the awards of the South?
ern claims commission was passed with but
few amendments, and sent to the House for
concurrence. Tne bill for the rellel of Josiah
Morris, of Moor gome rv, Ala., was also passed
and sent to the President.
The mu relieving nie treasurer Ircm re?
sponsibility for money stolen from Vae treasury .
bas passed, and now goes to the President lor
his approval It involves 190,000 expense to
the people. The bbl permitting the unloading
of vessels at night bas passed tne House. The
reports of tbe conference committees on. all
the principal appropriation bills were made
and agreed to. in the sundry civil appropri?
ation ellis the Hem for the sale of the marine
hospital grounds and buildings at New Orleans,
the purcne.ee of a more healthy site, and the
erection thereon of a pavilion hospital, was
retained;also, the Item ot one hundred thou?
sand dollars lor a government building at
Raleigh, N. C.; also, tba item for the par?
chase ol sites lor military depots la Tazar.
Tbe Agricultural College bill and the bill for
a steamship Hoe between New Orleantt and
Mexican ports were laid on tbe table.
In tbe legislative appropriation Dill the sala?
ries were fixed as follows : President, twenty
live thousand dollars; chief JuaUce of the Su?
preme Court, ten thousand five hundred dol?
lars; associate justices of the Supreme Court,
cabinet officers, Vice-president and speaker of
the House, len thousand dollars each; sena?
tors and members of Congress, Including the
present Congress, In lieu ot mileage and ail
allowances except actual individual travelling
expenses, seven thousand live hundred dol?
lars. The amendment suspending Judgments
ot the Court ot Claims lu lavor vi disloyal
claimants was struck out of the bli*. The
committee of investigation upon the case of
Senator Pomeroy report that York's charges
of bribery against Pomeroy are not sos tal oed,
though there was much positive swearing pro
and con. _
CHARLESTON AND BALTIMORE.
The (incition ot Transportation.
[from ibo Balli mo. o Gazette, Ma; ch l.J .
The want of sufficient freight facilities be?
tween i his port aud Charleston bas for some
time affected tbe trade of this city, and to
much BO that a meeting was held yesterday,
at the Provision Exchange, to take tbe matter
into consid?rai lon. Mr. Phillp T. George
caliea the meeting to order, and Mr. H. W.
Tomiiuson waa elected secretary.
The president slated that the object of tba
meeking was lo secure additional shipping
facilities to Charleston, and In showing the
importar ce ol a movement In that direction
made some remarks about the present posi?
tion of the shipping facilities by ocean steam?
ers, which, he asserted, were entirely inade?
quate; and if more were not soon provided,
me loss of that valuable trade would follow.
That the trade with tbe South was now car?
ried on under a severe competition with omer
points wbere abundant labilities for shipping
were furnished, especially with Cincinnati
and Louisv?He, which now have direct rail?
road communication with all the important
towns In Georgia and tbe Carolinas, at freights
very little in excess ot the raies demanded by
our own transportation companies, - He ap?
prehended diversion of trade hy the Chesa?
peake and Ohio Railroad, which tapped out
direct Southern railroad connection at Rich?
mond, two hundred miles south ol ns, and of?
fered really a snorter route from Cincinnati to
that place than any we now have to our own
city. The agents ol the Chesapeake and Onto
were putting up placards through lbs
South, showing the advantage of order?
ing goods from the West over that
road, and he looked with alarm to the In?
terest Southern merchants were taking In Ul
He urged that to maintain the trade lt ret
quired all the energy of the active business
men to retain lt, and that with efforts proper?
ly directed lhere would not be much difficulty,
and instanced the success ol the Ballimore
and Wilmington line of steamers, which,
with an orlglral capital ot $60,000, now
owned four steamers and had a fifth
building, and contemplated bel ore anoth*
er year establishing a dally line. The suc?
cess of this line be attributed to the efforts
of the management to give all the freight
offering prompt dispatch. Mr. J. Q. Harvey
offered a motion that a meeting be called on
Wednesday, tbe 5th instant, at the Provision,
Exchange, and thai omer branches of trade
be invited to be present, and lake action with;
regard lo providing increased lacLitlaafOf
shipments to Charleston. The motion waa,
adopted. Mr. Joseph 8. Hopkins moved that
a committee of three oe appointed to wall oh
lhe masters ol transportation of the Baltimore
and Ohio, and Baltimore and Potomac-Ball
roads, with regard to freights to Charleston.
The motion was adopted, and Messrs. Joseph
S. Hopkins, J. O. Harvey and Thomas Gaseara
were appointed. The meeting then adjourned
until Wednesday next.
08TH ANNUAL REPORT OF TEE NEW
TORE LIFE INS UR ANCE COMPANY
Th* "Kcierr* Fand."
The folio wi g explanation is all that ia requi?
site for the completo understanding of the ro
port by those not conversant with the subject:
The 4-reserve" fund of a Lifo Insurance Com'
pany is that sam io hind which, improved at a
given rate of interest, will be sufficient,
together with future premiums to be paid, to.
meet all obligations as they become due. If a
company bas the required euri for reserve,' it
is solvent and can continue business; if it baa
nob, it is insolvent and the law will interfere,
with its continuance. Of course the BIZ s of tbo
reserve required depends very largely upon'
shat rate or interest is assumed. The higher;
that rate is assumed to be, the faster the fund.
will accumulate at compound interest, aud
hence the smaller the present snm in hand may
be; the lower tbe Tate of interest, the more slow
the accumulation, and hence the lurker the re?
serve required must be. Massachusetts has
adopted? per cent, interestas the standard need
for determining the required reserve; tho stute
of New York adopts a lower standard, namely 4,
per cent, interest. Hence tbo reserve of a
company, and its surplus, if any, as made in
tho official reports of the insurance depart^
mentuof the two States, do not agree; bot ii
the New York standard is safe, the Massachu?
setts one muet bo safer, and the New York
Life therefore employs the Massachusetts one
m making its own calculations, that being the
highest standard used. Thus, by the Mas?
sachusetts standard of interest, the reserve of
the New York Life was $16,841,177 on the 1st of
January. 1872, and its supins over all liabilities
$1488,184, as computed and published in the
Company's regular annual report. Bat if the,
rate of interest to be hereafter realized is as?
sumed at tbe N w York rate, 4} percent,, the
reserve is $15 686,000 and tho surplus cocse
quontly $2.644,811. The policy of the New
York Life is, to establish and maintain perfect
security above all other things.
9 I SP I ? ?
-The report of the Anglo-American Tele?
graph Company ehowe an available balance of
$1,685,000, wbloh has been disposed of In pay?
ing twelve per cent, dividend for the year,
and adding IO reserve fund. ,
proposed amalgamation oi ^^SuiSSt
the directors state that negoUa?ons are stUl
golDgon, bul that the details ?g??g???
been settled. Afc* the French AtlanticOom
pany have laid iheir new cable, and h?w be?
come entitled to f-rty^'8nVn?-0iSLrii:
a.T ?nd two-thirds per cent, or the gross r??
SA, directors jconsider that amalgama?
tion will be beneficial. Sa