Newspaper Page Text
FOR DISTRICT OB SOUTHERN
CALIFORNIA: PAIR Vv 'BATHER;
WARMER; WESTERLY WINDS.
VOL. XL. NO. 107.
Mullen, Bluett Be. Co.
Clothiers & Furnishers.
Corner Spring and First Streets.
138, 140, 142 S. Main St.
The combination of Gas Fixture manufacturers has
gone to pieces. Prices have dropped for the time being.
You should now buy your
Gas, Electric or
At the liberal discounts we are offering at present on our
ntire elegant stock.
V sB.oo PORTIER j
I $12.00 couches!
An Elegant Line at Lower Prices Than Ever Before
Named. Our Own Make. See Our Windows and Exam
™ an iriJ mense June ot fAX rsxa SWTS, LI
BRARY SETS IN LEATHER, EASY CHAIRS, ROCK
ERS and DIVANS.
Have Just Received a New Line of Elegant GOLD
LOS HUB FURNITURE COMPANY,
225-227-229 South Broadway, Opp. City Hall.
HULD IN MECHANICS' PAVILION, BAN FKANOIBCO, ENDING FEB. 18, 1893
GRAND SILVER MEDAL S»Kk
SILVER MEDAL KSu A S™ spboimbn B of m^- SL
3ILVER MEDAL l^ OST ARTIBTIC ****™****™ or
"Four Medals Out of a Possible Foar."
gggyg&Ka 220 SOUTH SPRING STREET i-A^ies
—*■ ji l„mier ' Uo'leMn.ct:
Successors to Bailey & Barker Bros.,
H " Te l " to^ r ,erS '"_ t,ho
WILLIAMSON'S MUSIC STORE
ORGANS K «SKS„„...
A FULL LINK OK MUSIC AND MOSICAL INSTXTJMENTi
Standard, Rotary Shuttle, White aud Other Long Shuttle M«tfhlnas, Bapplles Ito
, 337 BODTH SPEjINa BTRB.ET. '
T. BILLINGTON, Proprietor,
}26, 328, 330 S. Main St.,
MS ANGELES, CAL.
CHAS. VICTOR HALL TRACT
OF ADAMS ST.
Large nome villa lots lozaaleln the Southwest
avenue.Bofeet wide; lraed'wuh SalmsMem
torey Plr.es, GraWOs.. H ?PP er., the Now aSS,
ot Algttrs and Magnolias, eie., which wiii
Bite a park.|ik«effeot totlx miles ot streets.
Lrta are 50x150 tola foot a'loys. "««- re
-8390J08. I>l«IDlt LOIS: Slidl per monih till
oni- hall U p.*ld or one-third cam and balanoe
lv five years, or if you build you can have five
years time. Dat ona wlilfjs you can. ADDlvto
uffloe, 22.-1 West First street; 7-U 6m
LOS ANGELES: THURSDAY MORNING, JULY 27, 1893.
LILIUOKALANI WILL WIN.
Claus Spreckels on Hawaiian
The Provisional Government Is
Hot One Quarter of the People Are
The Question Will Be Put to B Popular
Vote aad the Queen Will Be
By the Associated Press.
San Francisco. July 26.—-Clans
Spreckels wbo arrived from Honolulu
today saye: "Toe provisional govern
ment of Hawaii is doomed. Not a quar
ter of the people are witb it, and tbe
concensus of opinion is tbat tbe queen
most be restored. Tbe question of gov
ernment will eventually be put to a
popular vote and Liliuokalani will win.
The government does not want a vote
taken and is doing everything possible
to prevept it. Ex-Minister Stevens and
a few missionaries were responsible for
the uprising and had it not been for
them there would have been no trouble.
I think Minister Blount is of the opinion
tbat President Cleveland would be doing
only what was right by putting Liliuo
kalani back on the throne. The queen
is in Honolulu and is under no restraint.
She is mistress of the situation. Should
tbe United States refuse to annex
trouble will ensue."
THE NEW TREATY.
What the Annexationists Mow Propose.
Cl.as Spreokela' Departure.
Correspondence of the Associated Press.]
Honolulu, H. 1., July 19. —Since yes
terday it has been learned positively
what the provisional government's pol
icy and position regarding fnture treaty
relations with the United Statea is and
will Continue to be. In brief it is as fol
The new treaty drawn, which was a
document covering tbe objections which
arose in the Uhited States during the
visit of the Hawaiian commissioners to
Washington, will not be forwarded. The
treaty matter has been fully discussed
in special sessions of the councils lately,
and a draft of a new treaty has within
a few (fbya been returned from the com
mittee, which baa been endorsed by the
government and councils officially. The
•lo: jimnnt coutaiua live articles which
Article I cedes from the date of the
exchange of ratifications of the treaty,
without reserva, allrights of sovereignty
in and ever the Hawaiian islands and
dependencies to the United States to
become an integral part thereof.
Article II cedes and transfers absolute
fee of all government and crown lands,
public buildings, ports, harbors, fortifi
cation*, military or naval equipments,
and all other public property.
Article 111 provides that the existing
government of tbe Hawaiian islands and
the laws relating to its internal policy
are to be continued for Aye years, to be
executed and carried out under the
direction of a United States commis
sioner appointed by the president and
senate; eaid commissioner to reside in
the Hawaiian islands, with power to
veto within 10 days any act passed by
the local government, which shall there
upon become void unless afterwards ap
proved by the president of the United
Article IV prohibit", immigration of
Chinese laborers into the Hawaiian
islands until such time as congress shall
provide further legislation. It also pro
hibits Chinese laborers now here from
entering the United States. Otherwise
the immigration and labor laws are to
remain as they are, where they do not
cnme into conflict with the constitution
of the United States or such future laws
as congress may provide.
Article V provides that the public
debt shall be assumed by tbe United
States, but the Hawaiian government
shall continue to pay interest thereon.
Congress is to provide the future cur
rency of the islands.
TheJgoveFnment hae decided to include
the substance ot thie new treaty in the
draft of instructions to Commissioner
Alexander and Minister Thurston, who
will bring the matter before the United
States government in the form of sug
gestions in case President Cleveland de
cides to finally withdraw the Harrison
treaty of annexation and determines to
submit a new treaty or some modifica
tion of t \)H old.
Prof. W. D. Alexander will carry these
instructions with him to Washington on
the 25th or 27th instant.
Claus Spreckels leaves by steamer to
day. The royalists are to make some
sort of a demonstration with a cane pre
sentation just before the steamer leaves.
There was another rumor started last
night at 10 o'clock of another royalist
uprising to take place at 2a. m. this
morning, but, like so maay others
proved unfounded. Troops were ready
for the threatened coup d'etat, which it
was said, was to be a feint to start a
rumor abroad that the restoration of the
monarchy wonld soon follow Claus
Spreckels' departure. Aa the reserves
were notified it is perhaps as well that
The libel case of Clans Spreckels vs
Editor Smith, of tbe Star, which was to
have nome up this morning for trial in
the district court, has been remanded
until tomorrow. It was refused hear
ing in the upper court until tried be
Wanted—Some one with $5000 to take
one-hall interest in working bond and
leaae on jrold mine. Party putting np
money hae handling of same. W. B
Slawson, with Hubbard & Love, room
15,1203£ S. Spring atreet.
For sunburn and freckles nse only
Perlecta Face Cream; safe and sore.
For sale by A. E. Littleboy, druggist,
311 South Spring street.
AFFAIRS AT MARE ISLAND.
Assembling or th. Sullivan Unurt-M.r
tlal— Varragut'a Old Flagship.
Vallkjo, Cal., July 26. — Admiral
Belknap, who visits Mare Island navy
yard officially as president of the naval
general court-martial to convene today,
arrived thia morning. At noon the
members of tbe court repaired to the
office building where Lieutenant Garat,
wbo acta in the capacity of counsel for
the government, called the court to order
and administered the oath to the mem
bers. Peymaster J. C. Sullivan's attor
ney asked the court for an adjournment
until tomorrow, which request wsa
granted, in order to enable the paymas
ter to claaeify the witnesses and deter
mine the defense. He is charged with
embezzlement. Tomorrow the court
will be tendered a reception by the offi
cers of the navy yard.
The Hartford was cast loose from her
moorings in Rotten Row thia afternoon,
where she haa been since ahe went out
of commission four years ago. She waa
towed down the stream a short distance
and hauled into dry dock. As soon aa
the snip was in proper position the
pamps were started and soon Farragnt'a
flagship rested in the dock for tbe first
time in over eight years. Her hull was
comparatively free from any fouling.
From a hasty examination made this
afternoon it is evident that the Hartford
is in a corn par tively good Btate of preser
vation and that it will not require the
amount first specified to replace the
rotten timber and pat the ship in ser
viceable condition. As Commander
Glass, wbo ie senior member of the
board of survey ia a member of the
Sullivan court-martial, it ia more than
probable that the board of survey will
not inspect the Hartford before the Sul
livan case ie disposed of.
IT WAS DRUMMERS' DAY.
COMMERCIAL, TR.AVBI.ERS DO THE
Four Train Loads of Turners From Mil
waukee and Many German. From
Chicago Alao Took ln the
Chicago, Jnly 2&— Tbis was com
mercial travelers' day at the world's
fair. Tbe weather was delightfully
cool, with light clouda tempering tbe
aun's rays. The American Exhibitors'
association mat the travelers at tbe
terminal station on their arrival and
conducted them to the festival hall,
where addresses of welcome and re
sponses were delivered. A military con
cert in their honor was given by tbe
lowa Btate band this afternoon.
Tbe navilion ot the republic of Liberia,
in the agricultural building, -waa form
-1 in. .;r:, .r . . i, uwr vmm
open to ttto pntmffTdr some time. The
exhibit is unique and interesting.
Four trainloads of Turners from the
national turnfeat at Milwaukee arrived
at the grounds today and thousands of
Germans of this city visited the grounds
to witness the exercises. After march
ing through the grounds the Turners
went through a gymnastic programme
at the stock pavilion.
At 5 o'clock this afternoon tbe drum
mers commenced a tour of the princinal
buildings, under the escort of the Ex
hibitors' association. The column of the
parade wrb a long one. Arrangementa
tor the evening entertainment were left
to the option of the visitors individually.
The display of fireworks thia evening
was exceptionally fine, tbe programme
having been arranged especially in honor
of the Commercial Travelers' and Ger
man-American Turners' societies.
The total admissions today were 132.
--396, of which 91,945 were paid.
THE MiI).WISTBH FAIR.
Xt Seems to Have the United Support of
the Entire Bar City.
San Francisco, July 26.—A great maea
meeting in the interest of the mid-winter
fair whs held at the Metropolitan theater
tonight. Thousands were unable to get
in and an overflow meeting waa held in
the atreet outside. Mayor Ellert pre
sided, and speeches were made by Irving
M. Scott, M. H. de Yonng, W. H. L.
Barnes, M. Foltz, It. B. Mitchell and
othera. The various speakers were
greeted with greai enthusiaam, and am
ble evidence was given that tbe project
has the unqualified and united support
of the whold city. The subscriptions for
the fair have now passed the $300,000
National Tennla Tournament.
Chicago, July 26.—The first rounds
in the gentleman's donblea of the Na
tional Lawn Tennis association were
completed today. The game between
Hobart and Hovey and Tobin and Tay
lor was one-Bided, the former winning
hands down. Neel and Neely won a
victory over Harrick and McOormick.
Chase and Clark won from Ncjjdder and
Denver, Jnne 26.—The committee to
devise means for caring for tbe destitute
in the city met in executive session
last night. It ia understood arrange
ments were made for sending unem
ployed to friends in the east, a $5 rate to
all points west of Chicago having been
secured over all railroads.
An Attorney Assigns.
Cincinnati, July 26.—Powell Crosley,
an attorney, assigned late thie afternoon.
Assets, $200,000; liabilities unknown.
He had been speculating heavily in
laudß, and is reported to have sunk
money in the failed Mackay Spectatori
am la Chicago.
The London Stock Exchange.
London, July 26.—The regular fort
inghtly settlement at tbe Stock ex
change began today. The market was
weak and 'feverish. There was great
presaure to sell American securities.
Qaetations were nominal.
A Teiu Fall are.
Dallas, Tex., July 26.—The Land
Loan and Collection Agency of Murphy
& Bolan has failed. Liabilities esti
mated at $600,000, assets fully as much.
WILD WESTERN JUSTICE.
Judge Lynch Holds Court in
A Grand Army Veteran's Death
The Sequel of a Meeting on the
The Jail Stormed by a Mob or Many
Thousands and an Italian Mur
derer Taken Out and Bru
By the Associated Press.
Denver, July 26.-Last night B.C.
Lightfoot, ao old Grand Army man, was
brutally murdered by Dan Arata, an
Italian aaloon-keeper of unsavory fame.
The muderer was placed in the county
jail and the matter was discussed all
day by tbe people. Many threats of
lynching were made, but not much at
tention was paid to tham, as it was
thought the time for tbe frontier mode
of justice bad passed. This evening,
however, there was a large mass meet
ing of unemployed men at Fifteenth and
Market streets, where speeches were
made on the present financial depres
sion and kindred topics. When the
speakers were through a tall gray
whiskered veteran, wearing a Grand
Army uniform, mounted the stand and
shouted: "Follow me 1"
The crowd understood him and 5000
people took np tbe march after bim to
the county jail. On the way they were
joined by many hundreds, and when the
jail was reached, tbe crowd nnmbered
fully 10,000. The jail is a new and mas
sive one, and it was not thought it could
be entered by the crowd. Beamß and
every other available form of battering
implement, however, were brought into
play and fn a short time the outside
door on the notth side was battered in.
At this point Captain Crews, tbe
jailor, and guards, assisted by come city
police, turned a heavy stream of water
upon the crowd. It had no effect on
By thia time tbe crowd in tbe street
aronnd the jail had swelled to 40,000 at
least. The people in the jail turned off
the lights, leaving the entrance in dark
ness. Tbe crowd quickly tore the head
lights from some cable cars and brought
them to tha scene.
When the door leading to the jail
office fell in, tbe guards inside began to
fire. The enraged mob did not hesitate,
although two of tbeir number received
painful wounds. The guard was quick
,j ovfirrso»oimi, ana as in* jartur wuata
not give any information tha crowd
started in search for Arata's cell.
When it was reached it was quickly
One of the mob with a knife ripped
the murdererer'a abdomen. Others in
terfered, and he waa dragged out to the
street, palled np to the limb of a tree
and his body fiddled with bullets.
Finally the rope broke and the bleed
ing body fell into the gatter with a
splash. Some of the crowd called to
bum it, but finally a number of men
seized the rope and dragged! the corpse
by the neck through the mud into the
heart of the business portion of the city.
At Seventeenth and Curtis streets the
body was again strung up to a telegraph
pole, and it was a quarter of an hour
before the police took it down and placed
it in the morgue. The crowds then dis
A number of the jail officials were
badly hurt by missiles thrown by the
EVANS ARRAIGN JED.
The Bandit Pleads Not Guilty to Two
Charge, of Murder.
Fresno, Jnly 26—Chris Evans wbb
arraigned today en two indictments
charging him with the murder of Vie
Wilson and Andrew McGinuis. To each
he pleaded not Kuilty. Ex-Congressman
W. Wood burn of Carson, Nev., who is
associated with Patrick Reddy in Evans'
defense, was present. The trial oi the
case waa not set, but it is understood it
will occur next October. Evans ap-
E eared in good humor and spirits, and
ia plea was inr.de in a strong voice.
Steveuion at Taoouia.
Tacoma, Waah., July 26. — Vice-Presi
dent Stevenson and party arrived here
thia morning. They were met at the
depot by committees from tbe chamber
of commerce and commercial club and
escorted to Tacoma hotel. A parade
corapoaee of local civic and military so
cieties waa reviewed by the vice-preai
dent in the forenoon. Tbe afternoon
waa spent on a steamer or. tbe sound.
This evening speeches of welcome were
made by Acting Mayor Lee, W. H. Cal
kins and X. K. Lane and responded to
by the vice-president. This waa fol
lowed by an informal reception. The
party leave in the morning on the
steamer City of Kingston for Victoria.
Grant! Circuit Rao...
Cleveland, July 26. —The track was
The 2:23 class for 3-year-old6—Oriole
won, Double Cross Becond, Hinda Wilkes
distanced; best time, 2:20.
The 2:21 trot—Jayhawker won, San
Pedro second, Belle Cassett third; best
The 2:14 pace (unfinished)— Hal Dil
lard won, Panl second, Henry F. third;
beet time, 2:12.
The Educational Congress.
Chicago, July 26,—Many subjects
which have occupied the attention of
prominent educators were discussed in
15 separate branches of the edncational
congress today. Frederick Douglass and
others interested in the education of the
colored people held a largely attended
Chamberlain's Amendment Rejected
London, July 26. —The commons in
committee today rejected Chamberlain's
amendment, bis speech in advocacy of
which provoked a stinging retort from
Gladstone last night,
BERING SEA OPERATIONS.
A Report of the Work Done by the
Washington, July 26.—The navy de
partment received a report of the opera
tions of the Bering sea squadron in a
letter from Captain Ludlow of the Mo
hican, dated Humboldt harbor, Capoff
island, Jnne 27th. The report states
that almost every sealing vessel known
to be on the American side of the sea
has been warned by the squadron. The
British ships Garnet and Nymphe, also
doing patrol work, boarded and warned
17 sealers, two of which were American.
Up to the time of writing, the Ranker
had boarded nine American and two
British ebipa; the Albatross seven Amer
ican and 14 Britiab; the Rnah 12 Amer
ican and six British, and the Mohican,
Captain Ludlow's flag ship, six Amer
ican and one British vessel. Captain
Hooper of the Rush reported that aeven
American and 25 British sealers had
taken up to Jnne 14th, British, 15,286
and American, 2304 skins. Captain Lud
law eaya from information gathered, the
British sealers are under orders from
the owners not to violate tho
American laws in trans-shipment
of skine or to enter prohibited waters of
the Bering eea. The health of the
squadron, he reports in conclusion, ia
excellent. Captain Ludlow states that
293 vessels altogether were boarded and
inspected by British and American men
of-war. The catches varied from as low
ac 200 on come to as high 1825. The
average number, however, was between
500 and 600.
Will Itnn an llnir Time.
New York, July 26.—The extensive
Smith carpet works at Yonkera issued a
notice today that they would run on
half time for an indefinite period, owing
to the depression of tbe market,
CAPTURED THE CAPITAL.
THB LEON REVOLUTIONISTS TAKE
The Fate of President Zavalla and His
Cabinet Not Known—Great Ex
citement ln the Other
Panama, July 26.—A private telegram
from Nicaragua announces that the
Leon revolutionists have captured the
city of Managua. Details of how the
city was captured or what became of
President Zavalla and the members of
hie cabinet have not been obtained. It
ia reported that g.reat excitement exists
in San Juan del Sur and Rivas, and that
all tbe available forces hi the former
town have been sent to the front. From
this it is inferred that the government
forces have retired to a favorable posi
tion and will make a stand and fight the
decisive battle there.
THE VICTOBIA COVKT-.IMKTIAI,.
Hear-Admiral Mark ham-,1 Flag; Lieu
Valbtta, July 20,—1n the court-mar
tial today Rear-Admiral Markbam's flag
lieutenant, Bradshaw, asserted that
when Tryon signalled the question after
hia first signal was not obeyed by the
Camperdown, he (the witness) did not
report the question to Markham
until a little time had elapsed,
and Markham'a reply, "I do not
understand," was made after
the Camperdown had commenced to
turn inward in response to tbe first sig
nal. This made a difference in Mark
ham's testimony and he was recalled. He
was not Bare Bradshaw reported the
questioning signals to him, but some
one did as his decision was affected by
it. The prosecution closed.
Internal Revenue Statistics.
Washington, July 26.—The prelimi
nary report of the operations of tbe
internal revenue bureau for the last
fiscal year shows: Total collections,
$161,002,000, an increase of $7,145,000.
ihe sources of revenue were:
Spirits, $94,720,000, an increaee
of $3,410,000; tobacco, $31,880,000.
an increase of $8,S05,000; fermented
liquors, $32,548,000, an increaee of $2,
--511,000; oleomargarine, $1,670,000, an
increase of $404,000, and miscellaneous
$173,090, a decrease of $70,000. The
sum of $9,375,130 was paid for eugar
bounty during the year. On beet eugar
California got $435,723; .Nebraska, $764,
--170; Utah, $29,470.
Swindled by a Confidence Man.
Chicago, July 26.—1t was leported
this afternoon that the Chicago Trust
and Savings bank and other banks in
the city had been swindled by a smooth
confidence man with a lot of forged se
curities, that the amounts secured will
aggregate $50,000. President To 1 man of
the Chicago Trust and Savings bank, as
well as the police abeolutely decline to
talk on the subject beyond saying it is
Registered Letters Stolen.
TJtica, N. V.. July 26.—A registered
letter pouch from Portland, Ore,, on
train 14, New York Central, about 10
days ago for New York City, was rifled
of a portion of its contents en route, and
when the pouch, reached the postoffice
in New York, it was discovered tbat
nearly 60 registered letters were missing.
The pouch was cat and the opening
carefully laced with leather strings. No
Presbyterian Missionary Ponds.
Nkw York, J nly 26.—The fifty-sixth
annual report of the Presbyterian board
of foreign missions shows total receipts
from all sources of $1,044,504, the deficit
of $54,254 carried over from last year
having been mode good and leaving a
balance of $1878 in the treasury. The
woman's soeietv of the board raised
The world's fair will cause a rush.
Order eaily. Full stock, good fit, mod
erate prices. GeU, fine tailoring, 112
West Third street.
Ladies' hats cleaned, dyed, reshaped
and trimmed. California Straw Works,
261 South Main street, opposite Third.
The Conn Band Instruments—Fitz
irerald, the music dealer, agent, 123 S.
JUDOB ROBS DELIVERS AN
OPINION CONCBRNINO THB
TITLE TO MILLIONS OP ACRES
IN SOUTHERN CALIFORNIA.
PRICE FIVE CENTS
VERY CLOSE TO A PANIC.
A Most Exciting Day iv
Enormous Sales of Investment
Long: Stocks Slaughtered Regardless
Bears Have Things Their Own Way on
the Stock Exchange—Several Large
Brokerage Firms Collapses
Hard Times Notes.
By the Associated Press.
New York, July 26.—During a large
portion of today the stock exchange pre
sented a situation very close to a panic.
At times sales of investment stocks pro
ceeded in snch volume and with such
violence as never before had been wit
nessed, except in the worst days of 1873.
London bought for a time, but proved
quite powerless to stem the tide Of liqui
dation. Borne or the best stocks on the
market broke from 4 points Up, Lake
Shore particularly netting 7 points.
New York Central Western Union
7. One extraordinary incident was the
sale of 1200 shares of Evansville and
Terre Haute stack, not active on the
exchange. They were sold "under tha
rule" foi' an embarrassed broker, and
although she price was quoted yester
day at 126 bid, no buyer was found un
til the stock was offered at 75, a decline
of 56 points in a day—probably unpar
alleled in the records of the stock ex
THE BEARS HAD IT THEIR OWN WAY.
The bears had it entirely their own
way. There was no opposition to their
onslaughts. The announcement of tha
failure of H. I. Nicholas & Co. added
zest, and prices tumbled right and left
and without rhyme or reason. As an
illustration of this, the case of Manhat
tan Elevated may be cited. The earn
ings of tbe company were never co great
before in its history at this time of tbe
year, and the road is in a splendid con
dition and there ia absolutely no reason
or cause for the decline in its stock.
At 2:30 o'clock bankers and brokers of
prominence Baid there was tone to the
market, but they would not say whether
the bottom prices had beed touched
yet for any stock exchange securities.
CONDITION OF THB HANKS.
The president ol a leading national
bank Baid this evening: "The banks
here are perfectly strong, and although
there may be two or three small henka
which wonld have a hard time bat for
tbe protection afforded by the clearing
house, there is not the slightest reason
for any anxiety with regard to them."
The sub-treasury was a debtor at the
clearing house today $390,000 and set
tled the balance in gold. It is almost
entirely cot of currency, especially
small bills. Bank officers said theeitua
tion in 'that respect was pretty bad. It
is estimated that about $1,000,000 was
shipped to the country today by New
York banks. Much of it was in gold.
Rumors were plentiful today of re*
ceivers for several well known corpora
tions, including two railroad companies,
many, however, of which were utterly
THE PHILADELPHIA BANKS.
With reference to the condition of the
Philadelphia banks tbe presß of that
city today asserts that New York banks
owe Philadelphia banks about $9,000,000,
while Philadelphia hanks owe New York
banks $6,000,000. New York bankers,
however, say the money which New
York banks owe Philadelphia ia mainly
on reserve accounts. The money which
Philadelphia banks owe New York banks
is for drafts Bent for collection, and
money for which they have received but
not remitted. The reason they give for
not remitting the money is that they
cannot get New York exchange except
at a high rate of commission and oannot
spare currency. Yet they claim a cash
reserve of more than 38 per cent. A
dispatch from Philadelphia tonight says
the banks there pay a premium for ex
change and does not imply any weak
ness whatever on tbe part of Philadel
phia banks. The rate for New York ex
change has averaged $3 per $1000 for
for several weeks and in consequence
Philadelphia ia considerably out of
STOCK EXCHANGE FAILURES.
IT. }. Nicholas & Cc. and J. 15. Dnmont
forced to the Wall.
New York, July 26.—The stock ex
ehenge firm of H. I. Nicholas & 00.,
considered quite prominent, failed ta»
Nicholas is a director of the Evans*
ville and Terre Haute railroad. Mon
day the stock of that road sold at 127;
today only 70 could be got for a single
hundred shares. The house succumbed
to the steady shrinkage of values whiofc
has been going on for a month. TIM)
firm bas been bullish and was credited
with having a great deal of money in
the Industrial boom. The failure caused
a rapid decline on the stock market, tha
losses being from 7 to 9 points.
Tbe outstanding obligations of
Nicholas & Co. amount to $1,250,000.
Although it was known the firm waa
pressed lor money, that circumstance ia
so common in Wall street now-a-daya.
tbat there was no more apprehension
on the part of Nicholas than dozens of
other firms not especially suspected.
The firm hae been engaged in a general
stock brokerage business, dealing in a
great number of the best stocks. Tha
assignee eaid this evening their collat
eral is splendid paper, and "all we ask
of creditors is not to be frightened into
selling it off, but hold on to it. If they
do, they will receive 100 cents on $1 and
there will be a handsome surplus for
the firm. The cause of tbe failure, it
goeß without saying, was financial
stringency, call of loans and inability of