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Chicago daily tribune. [volume] (Chicago, Ill.) 1872-1963, November 01, 1873, Image 1

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VOLUME ‘27.
REMINGTON SEWING MACHINE.
THE NEW IMPROVED
HIINSTON SEWHMiCHIK
AWARDED
THE “MEDAL FOR PROGRESS,”
AT VIENNA, 1873,
Tho Highest Ordor of Modal Awarded at
the Exposition.
Ho Sewing-Machine Receive! a Higher Prize'
A Few Good Reasons
X.—A Now Intention, thoroughly tested, and secured
by Letters Patent. . .... . .. ~
2. Makes a Perfect Look BUtch, alike on both sides,
on all kinds of goods. ....
3. Run# Light, Smooth. Noiseless, and Rapid-best
combination of qualities.
4. Durable—runs for years without repairs.
6. mil do all varieties of Work and Fancy Stitching
In a superior manner. ... . _ ,
o,_ls most easily managed by tho operator. Length of
•tltob may bo altered whllo running, and machine can bo
threaded without pasting thread through boles. '
7. Design Simple, Ingpnlonß, Elegant. Forming the
stitch without the uso of Oog-Wnool Gears, Rotary Guns,
or LoTor>Arma. Has the Automatic Drop Feed, which
Insures uniform length of stitch at any speed. Has our
cow Thtoad-Controior. which allows easy movement of
noodle-bar and prevents Injun to thread.
8. Construction moat oaruful and finished. Itlsmsn*
ofaotarod by tho most skillful and oiporlenced mochan
los, at tho celebrated REMINGTON ARMORY, lllon,
N. Y.
Address Remington Sewing-Machine 00.,
Western Oflloe 286 State-st., Ohioago, 111.,
for Agonoiea or Information.
GLOVES, LINENS, &o.
A FEW SPECIAL HAMAH
AMONG HUNDREDS NOW SELLING AT
CARSON,
PIRIE & CO.’S
■RETAIL DEPARTMENT,
WEST MADISON & PEORIA-STS.
KXT> GLOVES.
8,000 pairs genuine Paris Kid Gloves, equal to any In
quality, reduced from SL7S to $1 a pair—la colors only.
"Thomson’s Boat" 3-button Kid Gloves at $1.60, regu’
i»r price is $2.25—1n colors only.
Good 3-button Kid Gloves, Colored and Black, $1 a pair.
Good 1-button Kid Glovos, Colored and Black, 85 cent*
a pair.
Xjlktbit KEi^nsr-A.3sr'rs.
3.600 abort loncths, Manufacturara* Remnants, Pure
Irish Linens, at 36 ots. a yard—a great bargain.
3.600 abort lengths, Gne quality of aame goods, at 60 oU*
a yard, some of thorn being worth sl.
FXjAJSTXTELS,
Good White Domot Flannels at 20 and 35 eto.
Good White All-Wool do,, 80c, 35c, and upwards.
Good Rod All-Wool do., 230 upwards.
Bargains in Shirting Flannels.
Bargains in Shaker Flannels.
Bargains in Blankets.
WOOLENS.
Lino of Oasaimcros for Boys’ wear, 60, 65, 75 eta. and
upwards.
Heavy dark Oasaimcros for Men’s wear, 80, 85 cts., $1
and upwards.
A heavy black Waterproof, great bargain, 85 ots.
Bargain# in Navy Blue Waterproofs, $1.25 upwards.
EIO SIBRT, UNDERWEAR.
Children's good Wblta Merino Hose, SO cts.
Large lino of Children’s Fancy Huso, cheap.
Ladloa* fall regular Whito Cotton Hose, 25 ots., a bar
gain.
Ladles' Merino Vesta and Drawers, a good article, 750.
Goats' colored Merino Vests and Pants, SO ots.
Large assortment of finer Underwear, very cheap.
CORSETS.
The greatest bargains over offered In real French Wove
Corsets, warranted best shapes and qnalltlos imported;
about actual half-price, as follows:
Regular 94.60 Corset for $9.60.
Regular 93.60 Corset for 93.00.
Regular 93.60 Corset for $1.60.
Good Whalobono Corsets at stfll lower prices.
IT PAYS TO TEADE ON THE VEST BEDE.
Cor. Madison & Pcorla-sts.
POLITICAL.
Candidate for Alderman of Tenth
Ward, People’s Party,
M. GREENEBAUM,
OF THE FIHM OF
M. GREENEBAUM & 00,
DEALERS IN'
IRON,-NAILS, & WAGON-STOOK.
OFFICE DESKS
IKToxrcr’ is tlio Time!
TO BUY
re mm,
Elaborate or Plain*
Tables, Chairs, &c.
AT ABOUT
First Cost.
ALSO,
School & Church
Furniture,
Direct from XjABGEST M’F’RS in the Coun
try. Address, for Catalogue and Prices,
lUidnsMii,
166 to 170 State-st., Chicago.
WANTED.
WANTEI)..A(JUNTS-lfltOltl 87o]|
to $360 per mouth, everywhere, toselloqoj’
of the most useful articles ever Invented]
needed in every family. Send for Olrou-'
lar. Address,
BECOMB A CO.,
167 Btato-st., Chicago, 111
DISSOLUTION NOTICES.
DISSOLUTION.
Tbe Arm of Hord A Nuyoa la this day dUanlTod by mutu
al consent, Oharlua 11. Noyes retiring. imd K. It. llotd
assuming all tbo aaeota and liabilities of tbe lain Arm.
ClilAß. 11. k6yEB.
B. 11. Hord will continue the eommUalon business at
borotolore. at tbo sain* nlaoe, la
MUSICAL.
BURBSTT
SUMS.
At no time during'tho past throe years have wo been
able to moot tho demand for those matchless Instruments,
tho orders Invariably exceeding tlio supply; nml oven
now, with Urgcly-inoroased manufacturing resources, tho
ordon'nro largely In oicoss of our Ability to furnish. In
consequence o! this fact wo have, for yoare, refrained
from advertising thorn, and only now havo recourse to tho
press in order to call tboattontlonof tho public to tho
many
NEW IMPROVEMENTS,
NEWLY-DESIGNED CASES,
NEW STYLES FOR CHURCHES,
NEW STYLES FOR THE
DRAWING-ROOM,
All of which should be seen and board to be appreciated.
fsr Partloß at a distance will please write for our Ulus*
tralod Price List.
LYON&HEALY,
General Agents for tie Horllwest.
State and Monroe-sts.,
OHIOAGO.
WATCHES.
WAIT & Cl,
Union Square, New York,
No. 10 Grand Quni, Genova,
Id addition to their usual stock of SUPERIOR STEM*
WINDERS, offer a full assortment of COMPLICATED
WATCHES,
COMPRISING
CHRONOGRAPHS, MARKING FIFTH SEC
ONDS.
CHRONOGRAPHS, WITH SPLIT SECONDS.
CHRONOGRAPHS, WITH SPLIT AND INDE
PENDENT FIFTH SECONDS.
REPEATERS, STRIKING HOURS AND QUAR
TERB.
REPEATERS, STRIKING HOURS AND MIN
UTES.
REPEATERS, STRIKING HOURS AND FIVE
MINUTES. '
SELF-ACTING REPEATERS, STRIKING
HOURS AND QUARTERS.
CALENDAR WATCHES, SHOWING DAY OF
THE WEEK AND MONTH AND CHANGES OF TUB
MOON.
IRON PIPE, &c.
WALWOETH,
BROOKS & CO.,
243 & 245 Lake-st.,
CHICAGO.
Iron Pipe,
FITTINGS, VALVES, &c,
FOR STEAM. GAS, AND WATER,
steam iPXJnyniPS:,
Engine*, Boilers, Bolting, nose, Ac, Steam Heating
and Ventilating. OUt Bros. A On.'a Steam Safety Klava,
tors. Iron Plpo In any quantity, at very low prlceiiorcuh.
FINANCIAL.
WEOFFERFORSALE,
At 04 cents and interest, a first-class HOME
INVESTMENT BOND, bearing 7 per oont
interest, payable sezni.annually on the Ist of
January and the Ist of July. Those Bonds
were constitutionally issued by the Board of
West Chicago Pork Commissioners, For
the payment of Principal and Interest the
resources of the West Chicago Commission
ers and the credit of the Town of West Chi
cago are irrevocably pledged.
APPLT TO
HENRY GREENEBAUM & GO.,
Bankers, Fifth-av.
;OXR/£l!E]a
SAVINGS ||||| BANS,
Clattered by ol HUnols.
105 CLAM 1 ., Methoflist Clmrcli Elect
flu per cent compound Interest on deposit*.
Pais Hooks furnished vritbont charge.
Children started with one dime as usual.
„ „ GKO. BCOVILLIt, President.
Wu. Kelbetßeed, Cashier.
Note.—Daring the recent panic this Bank has paid all
deposits tin demand without notice.
REMOVALS.
JR> IB ZMZO VED
108 WASHINGTON-ST.
POPE &TDAVIS,
Commission Merchants,
BREAD STUFFS AND PROVISIONS.
WM. J. POPE. R. L. DAVIS.
Chicago, Oct. 31. 1878.
UNION LUNCHES.
mu IMHO,
By the Ladles of ttioiororftl MothndUl Olmrclin. at No.
81 MidUou-st, Only 6U com* /oraUood Luuou ami a
good time. JJenolUof Mission Cliuicli.
WEATHER STRIPS.
Tim
Best Weather Strip
In tbo city. Four oonfiiier foot, CHICAGO PIOTURK
FKAHK MANUFaUTUIUNG aO.,7UKa B t Mudl.un-.t,,
corner of Htatc, Itoom I, up-atntni.
TUB IIKHT AND TUB CHEAPEST
WEATHER STRIPS
In the olty, can bo found at D, W. BOSLEY A CO.'S,
101 Bait llaadelpU-jt.
FURS, HATS, &o.
FURS.
HATS.
Largest Stock,
New Styles,
Fine Goods, _
Eight Prices.
STEIHDIK&GO^
FUR MANUFACTURERS.
231 West Madison-st.
Brandi, 114 South Clnrk-st.
ESTABLISHED 1835.
I. A. SMITH & CO.,
10l STATE^T.,
MANUFACTURING FURRIERS.
Seal Sacques,
Muffs, and Boas.
MINK, LYNX, BLACK MAETEN,
and BEMINE SETS, in all their va
riety.
We make a specialty of EEPAIR
ING and TRIMMING SEAL
SACQUES -with OTTER, BEAVER,
SEA OTTER, BLACK MARTEN,
and SILVER FOX.
BASSETT & HAMMONS,
Furriers and Hatters,
HAVE .A. IFXJLXi STOCK OF
Ladies’ Furs,
Children’s Furs,
Gentlemen's Furs,
HATS, CAPS, GLOVES, ROBES, &C.
Furs Altered and
1-14 Madison-st.
GEnEH’SMTS
Ladies’ Fine Furs,
TODMM’S DRESS HAT, YOUMAIfS M
OPERA TUEBAN FOR EVENING,
AT
Erby & Barnes’,
101 MADISON-ST.
HATSI
BVNUF & CO.’S
Specialties in Dross Silk and Felt Hats, in
full supply at BREWSTER’S,
Where may be found the most elegant stock
of Seal Gaps and Gloves over shown in this
COAL,
Wilkes-Barre
COAL.
“From Our Own Mines.”
FINEST QUALITY of HARD COAL.
DELIVERED IN CITY,
$lO PER TON, any size.
IN YARDS,
$9 PER TON, any size.
WELL SCREENEJ3 AND FREE FROM SLATE
Also, Lehigh Lump, Blossburg, Briar
Hill, Medway, Hooking Talley,
and Wilmington Coal.
A Liberal Discount made oa Country Orders.
BLAKE, WHITEHOUSE& CO.,
19 Chamber of Commerce.
Yanis—lndlana-st. Brtdw, Iwmty-second-st, Bridge,
FOR SALE.
BEMSIBIE SPOMGDPS,
tub Cleanest and Neatest Article for Deslc Use,
AT WHOLESALE AND RETAIL, BY
CULVER, PAGE. HOME & CO.,
118 and 120 Monroo-st.
CONSUMERS will find it profitable to got our nrlooa
boforo ordering elsewhere. HINDI.R «t JRNKIHH,
Wholesale ami Retail Stationers, Printers, and Blank
Book Manufacturer*, IG6 Olark-at.
FOR SALE CHEAP.
100 FKK'JL'.
CO fool on tbo southeast corner of Oalumot-aT. and Thlr*
iy-socoad-st., and CO foot on tbo northeast corner of Oalu*
moi-ar. aud Thlrty>tbird>et. a fool, cash. If taken
to-duy. Iniiulroof JACOB WRIT, <k CO.,
Nurtuvrott comer of Madison ami Ucarborn»sta.
HOTELS.
wxisrarßß ebsobt
KOYAL VICTORIA HOTUL,
Naeaaa, N. P,, lUlinmai, oiirn* for (be winter aeaaoo
Nov. 1, For (ml Information addrosa J. LIUUKUWOOO,
Agent, 678 Broadway, N. V.
T. J. POUTER, Proprietor.
MEETINGS.
Masonic.
There will bo a regular communication of Union Park
Lodge tb .a (Rolurday)evening, at tbo bull corner of Maul*
eon and Hobey-sta. Work on M. M. degree. Vlaltlug
brethren are Invited, and members of tbo lodge notltled
to attend, liy ordorol W. U,
CHICAGO, SATURDAY, NOVEMBER 1, 1873.
FINANCIAL.
The Great Dry Goods House
of Olaflin & Go. Em
barrassed.
Meeting of the Banks
to Examine Its
Condition.
Another Meeting for Consul
tation to Be Held
to-Day.
The Sprague Crisis Not Yet
Their Notes Gone to Protest in
Providence.
The Providence Banks Reach
no Definite Decision.
Report that a Plan of Trusteeship
Will Be Adopted.
To-Day Will Decide Their Fate.
The Chesapeake & Ohio Railroad Com
pany. in Default.
Stagnation of Trade at Baltimore, Bos
ton, and Philadelphia.
Sharp Decline of Stocks in *Wall
NEW YORK.
Special Dispatch to The Chicago Tribune,
A CHILLING FEAR.
New York, Oct. Sl.—Deep gloom and that
loss of confidence, which in Wall street is in
variably the forerunner of a great disaster, —
such an one as for days past has boon lurking
along tbe financial horizon,—fell to-day liko an
enormous chilling pall over tho street and quick
ly routed tho little confidence that still reigned
in tho minds of tho moro sanguine speculators.
This was duo to tho already long and rapidly
increasing category of failures, iooludlng some
of tho most prominent, aud, it was believed, tho
soundest moneyed companies and corporations
in tho country. Tho most wild and reckless ru
mors concerning a number of commercial houses
that have thus far mot all their obligations, were
in circulation. Thoso stories combined to de
press tno stock market, and when it woa reported
that a prominent Vanderbilt house inßtood street
had failed, there was still greater depres
sion. Nearly every stock in tho list droopod
from tbe opening to tho end, until tho fluctua
tions wore from 1 to per cent below thoso of
lost night.
now STOCKS DECLINED.
Among those who bought and paid for stocks
two months ago, the proportion of thoir
capital actually lost already, so far
as tho market value of securities ‘indicate real
value, is about three-fifths on St. Paul; one-half
on Columbus, Cincinnati & Indiana Central,
Hannibal & St. Joseph, Northwestern, and
Western Union; two-fifths on Ohio & Missis
sippi, Pacific Mail, Toledo & Wabash, and Union
Pacino; ouo-third on Lake Shore; one-quarter
on Erie and Harlem ; and one-fifth an Central
and Hudson. If the comparatively few who buy
for ready money aro so seriously injured, wbat
must bo tho fate of those unfortunate specula
tors whoso transactions wore baaed upon more
deposits—s to 10 nor cent—as margins and how
disastrous and wide-spread must bo tho effect on
moneyed institutions all over the country, whose
capital and deposits wore loaned out on margins
of [email protected] per cent.
THE DECLINE
in Wabash was SK per cent; in Lake Shore,
Hannibal, St. Joseph, and Bock Island each 3;
in Central & Hudson, 2% ; in Northwestern and
Pacific Mail each 1% ; in St. Paul, 0., O.
C. &I. Cm each 1U; in Union Pacific and Erie,
Every fall, even of 1 per cont, only
widous the breach between debtor and creditor,
and intensifies tho suffering and distress.
Had tho market recovered a few per
cent, and bold tho recovery for a few
days, many millions would have boon quickly
cancelled, which must now be settled through
expensive and tedious process of tho bankruptcy
law.
GOLD
opened at advanced to declined to
108)4 t ana closed at 108%, on a not very active
market.
paid out to-day, In redemption of 6-20 bonds,
$19,000, and disbursed $446,000 on account of
tho November intoreat,making & total of $3,015,-
000 thus far paid.
FOREIGN EXCHANGE
was weak with a strong pressure to sell. Loudon
advices wore more encouraging, so far as the rate
for money was concerned, tho prico in open mar
ket being 8)4 per cont. The Bank of England
gained £20,000 on balance to-day.
MONEY
on call was very irregular, and has ranged from
7 per cent per annum to % per cent commission
and interest. In mercantile paper tho rates
ore nominal.
TUB BANKS
continue to improve, and report a farther gain
of $050,000 in legal-tenders. The pooling ar
rangement of the banks terminates to-morrow,
and there is little apprehension that trouble
will result therefrom.
Tho flour market opened quiet and firm for
shipping brands, and irregular and heavy for me
dium and bettor grades. At the close the market
was steadier and active for low grades, lower
for medium and high grades. Early in the day,
tho inquiry for wheat was limited, but under the
favorable nows which arrived from Europe later
in the day, holders advanced their views [email protected]
cents on spring; winter was hold with steadi
ness. The demand was ohiofly for export, but
partly to All contracts and vessels. Oats wore
easier, and m moderate demand for tho trade.
Bye remains quiet.
There was a moderate inquiry for berth ac
commodations, with rates ruling firm, except
for grain ; for which lower figures were accept
ed. There was a fair demand for vessels for
charter, principally for those adapted to tho
grain trade.
DIMINUTION IN BUILDING.
From the *Veu> For* H'orW, Oct. 29,
If the blighting effects of tho panio wore to be
summed up in a very short space it could not bo
bettor done than by making a few references to
tho records of tho Department of Buildings for
past few weeks. An* examination of tho books
of that Department shows that tho work of
eroding now buildings ami repairing old ones—
an industry on which was expended tho sum of
$24,72)2,709 during nine months of last year—
has diminished to such a degree that the rate of
expenditure at the present time is only $4,002,000
nor annum. Last year tho average number of now
buildings projected each week was 142. This
year tho number of now buildings projected for
tho week ending Oct. 14 was 20; for the week
ending Got, 21 it was 28, and for tbo week end
ing yesterday, Oct. 28, the number hod dwindled
&iIU ©fibttiw.
Over.
Street.
THE TREASURY
BUEADBTUFFS.
FREIGHTS.
down to 14. Among those 14 there !s no
costly building protected. It la oven quite like*
ly that several of those projects will be abandon*
od, at least until spring. All the officers con
nected with the Building Department attest to
the same statement—that the business is un
usually and unnaturally dull.
Besides the fact that operations are to bo sus
pended on nearly nil buildings except those
which must bo completed, the wages of such
mechanics and laborers who do continue to find
employment are to bo cut down.
THE SPRAGUES.
Special Dispatch to The Chicago Tribune,
THE FEELING IN PROVIDENCE.
Providence, It. 1., Oct. 31. To-day was
marked by an intense, but quiet fooling. The
publication of the liabilities and assets of the
Franklin and Oranstan Savings Banks had a fa
vorable effect, especially in the case of the
former. The latter stopped payment, except on
sixty days' notices.
Little business has boon transacted in finan
cial circles. The condition of tbo Spragues is
tbo all important toplo. The Providence house
mot tboir obligations yesterday, which wove bat
small. It is reported tboir paper wont to pro
test this afternoon. No Providence bouse Will
go down by ibis disaster, the Sprague paper
being largely hold by*tho banks, and, with the
exception of tbo two mentioned and tbo Globe
National, in safe lines of investment. Tbo
rumor that Brown & Ives are pressing tbo
Spragues to the extent of $1,000,000 is without
foundation.
The Committee appointed to investigate the
affairs of the Spragues was busy all day, but has
made no report. Tho general opiulon prevails
that some plan of trusteeship will bo proposed.
Tho reported failure of Claflin A Co., if true,
will Increase tho embarrassment of tho Spragues.
Gen. William Sprague, President of the Com-
Eanv, arrived from Washington this afternoon.
Ec has not boon hero before during the trouble.
Tho excitement is not marked by any political
feeling, a common interest bringing all to tbo
same level.
{To the Associated Press.]
PAPER PROTESTED.
Providence, R. 1., Oct. 31.—Tho notes of A,
& W. Sprague wont to protest this afternoon.
DANK INVESTIGATION.
The Commissioners appointed by the Governor
to examine into the condition of the Cranston
Savings Rank report (ho total liabilities of that
Institution at $2,300,935. including $2,143,505
due to depositors on book account. The assets
aro $2,883,235, including $105,000 in acceptances
of Hoyt, Sprague & Co., $837,600 in notes of
the A. & W. Sprague Manufacturing Company,
and SIOO,OOO in the stocks of throo Sprague
banks.
RANK MEETING ADJOURNED.
The mooting of tho bank oflicors to consider
tho affairs of A. & W. Sprague has further ad
journed until to-morrow. Tho Committee is
not ready with its statement, and no plan for
tho future conduct of business has been agreed
upon, There is no material ohauge in tbo gravo
aspect of affairs.
LATEST,
There is do notable change in tbo financial
situation to-night. Maturing Sprague paper,
amounting to $17,600, went to protest this
afternoon. Gon. William Spraguo, President
of tho A. Ib W. Spraguo Manufacturing Com
pany. arrived this afternoon, aud it is expected
that his presence will aid tho committee In ma
turing propositions to bo submitted to the moot
ing which is to bo hold to-morrow at noon.
Nothing Is known positively of tho proposition
to bo submitted, but the plan talked of involves
tho appointment of Trustees to take tho general
charge of tho settlement of tho vast and varied
interests on terms most advantageous for own
ers and creditors.
Special Dispatch to The Chicago Tribune.
THE NEWS IN BOSTON.
Boston, Oct. 31.—Tho day has been on inac
tive one in financial circles, for the failure of tho
New York house of tho Spragues, and numerous
minors of tho embarrassment of other (Irma,
with the still unsettled and desperate condition
of tho Providence house of tho Spragues, tend
to weaken confidence. Tho nows that tho notes
of A. «k W. Sprague in Providence went to pro
test this afternoon was not received until late,
and its effect will not bo developed before
to-morrow, but there is a degree of gloom in all
manufacturing and mercantile circles greater
than at any time since tho precipitation of tho
stock panic in Now York. The continued
failure of
THE COMMITTEE OF CAPITALISTS
appointed to investigate the Sprague report,
has done as much as anything to confirm tho
suspicion that tho downfall wasinovitable. Thoir
business was kuown as vast, various, and ex
tended ; but it was believed in financial circles
tb&t if its condition had been sound tho fact
could have been shown very much sooner.
A NEWSPAPER OPINION.
Tho Providence Journal of this morning
doubtless voices thejopinion of the business
world, whon it says:
If tlio Spragues bad held their accounts in a condi
tion to show their true situation, and could have mani
fested their ability to go ou with {1,000,000, or $2,000.-
000, or $1,000,000. the capitalists of this rich and pros
perous city would Uavo taken them up and carried
them through without asking any aid from Wall
street.
Tho Journal is the organ of tho rival house of
Brown & Ives, but during the crisis bus been
exceedingly forbearing and judicious in its com
ments on the situation. The truth probably is
that the Committee could discover no safe basis
for extending help, uor any definite limit to tho
amount that would bo needed to carry the
Spragues through.
YESTERDAY’S MEETING OF THE COMMITTEE.
At tho meeting to-day noon they wore
no noaror ready than two days ago. for
anything that appears: and after tho report was
roceivccT that uo report had boon made, every
body was prepared for tbo suspension of pay
ments this afternoon. Tho Commissions that
examined the condition of
THE SAVINGS DANES
made public thoir statement, which'contributed
to make certain tho conviction that recovery was
impossible. That of the Franklin Institution
was telegraphed last night. The condition of
tho Cranston Savings Bank is still more unfavor
able than tbo Frauldin, the liabilities being, ac
cording to the report, $2,366,035, including
$2,118,505 due to depositors ou bank account.
The assets are as follows:
Loaned on mortgage of real estate $830,033
Mortgage on personal property. 2,000
Loaned ou personal security, Including $496,000
In acceptance of iloyt, Sprague A Co., and
$275,000 in notes of tho A. AW. Sprague
Uauufacturlng Company. 071,300
Loans on collaterals, including $300,000 in notes
of A. A W. Sprague A Co 876,000
Stock In the Sprague banks 09,630
Stock in the Bank of Commerce 62,800
Slock in the llbodo Island Safe Deposit Com
pany 10,000
Other certificates of indebtedness 4,030
It is reported that depositors will get not
more than 25 cents on the dollar.
EFFECT UPON TUB BANKS OF PROVIDENCE.
A dispatch received in this city at noon to
day, from A. D. Mygatt, Bank-Examiner from
Washington, now in Providence, says that
ho cannot see that the capital of any of tho
Providence banks will bo at all impaired by tho
Sprague failure, unless, perhaps, tho First, Sec
ond, and Globe, and they will pull through all
right, being sustained by tho other banks.
SPRAGUE INSTITUTIONS.
The following are some of the institutions
managed by tho Spragues:
Perkins Sheet Iron Company.
Comstock Foundry.
Uulou Flax Company.
Ithodo Island Locomotive Works.
Cranston Print Works.
Nnrragansett Trotting Park.
Union Street Kallroad Company.
They have besides a largo interest in the
Providence Steamship Corapony, and largo in
terests in Augusta, Mo., and Columbia,
S. 0. Tho Cranston Print Works have
shut down for two weeks, and will run
only a short time when operations aro resumed.
The rest of tho Sprague mills are all ruuuing,
some on short time.
LOCAL PRESS BICKERINGS,
The Providence Journal to-day says, rather
hopefully, that no other house is likely to go
down in this disaster.
Tho Press— tho Kproguos* paper—has the fol
lowing deprecatory but not reassuring com
ments: “In times of a severe financial embar
rassment like tho present, it Is exceedingly
unsavory to allow personal or social prejudice to
come to tho surface: and especially should they
not ho allowed to point a sentence or convey a
taunt of humiliation, a sting of reproach,
or a boast of fancied superiority.
These are not tho times for boast
ing or of solf-gratulution on tho part of any
one. The industries of this State and of the
country are receiving a heavy blow, ami the out
look is nut tho most favorable which could bo
desired. As all Industricßliavo Interests In com
mon. all porsouH and firms should bo ready to
Administer to oaon other in a spirit of kindness,
no matter what tho personal, social, political, or
other relations may have been while prosperity
reigned.”
MORE TIME TO RE ASKED FOR,
Tho AdvertiJer'a, Providence special says i
It[is predicted by some that tho Committee or In
vostigatlouiiato the Spraguo affairs will ask still
further time to-morrow.
SENATOR BPftAOUfc ON THE GROUND.
It is Intimidated lb somo quarters,
that tbo Committee was awaiting tho
return of tho lion. Wm. Sprague, be
fore settling upon any plan of action;
hut, as the Senator arrived this afternoon, there
can bo no further delay on that account. Ho
came from Washington, and reached Provi
dence at 4 o'clock, an hour after tho
not&s of tbo firm bad been protested.
His brother and Mayor Doyle mflt him at
tho railway station, and they immediately
wont off together for private consultation. Will
iam Spraguo is reported to have said that ho
would, agroo to whatever plan tho Bank Commit
tee might decide upon. • »
PROBABLE ACTION OP THE BANK COMMITTEE.
What this action will bo is variously specu
lated upon in business circles, and some
think it probable that it will recom
mend the placing of tbo whole of
tbo business affairs of tho concern in tho hands
of trustees, who shall Conduct them until all
embarrassments aro removed. Others beliovo
that absolute bankruptcy will bo tho result. Tho
Bpragud organ in Providence declares, in its
last edition to-night, that it understands
(hat a plan, in general features, has
been agreed upon, which involves practically an
extension by the creditors of tho house; and
says of it:
Tbo plan moots with favor, and is accepted by
both tbo banka and tbo bouse. Another meeting com
posed of creditors must be called, at such time
as is possible, for their consideration of tbo plans.
Tbo action or tbo banka at (heir meeting to-morrow
wIU practically determine tho question. While noth
ing baa transpired, at this writing, to Indicate what the
{■articular recommendations of tbo Committee maybe,
tis generally understood that they will conserve tho
safety and security of both tbo house and all its cred
itors. Its enterprises aro many and various, as its
capital has been made to developo nearly
every industry of tho Slate. The ability to
continue so generous and honorable a course of
‘lndustrial development baa become In a measure
crippled by the loss of credit. It is generally sup
posed that tbo plan to bo proposed will
embrace a return of the firm to tho strictly
legitimate business by which Its fortune has
been made. If this is ao, It will take tlmk
to realize upon those outlaying interests at
a fair valuation or without serious sacrifice; and it la
true that the house now needs credit mors than in
creased assets.
THE AMOUNT OP BFEAOUE PAPER PROTESTED
to-day. is $47,600. Tho statement that the
Spragues had boon pushed by tbo
firm of Brown & Ives is squarely
denied by those in a position to know. Thoy
say that, until tho Spragues asked assistance
from it, the latter firm had not hold a particle
of thoir paper.
THE SPRAGUE MILLS.
The Cranston printworks, belonging to tho
Spragues, have closed for two wooks.
and it is said thoy will run on short
time when operations aro resumed. Thoir other
mills aro running regularly, with two or three
exceptions, on snort time.
A CONSULTATION HELD.
It is boliovod that tho Spragues are holding a
consultation to-night; but if -this be so, the
mooting is strictly private, and nothing can be
learned concerning tho proceeding*.
WOOLEN MILLS CLOSED.
Oswego, Oct. 81.— Hoyt, Sprague & Co.’s
woolen-mills at Oswego Falls will closo to-mor
row until further notice, throwing 500 operatives
out of employment.
■CLAFLIN & CO.
Special Dispatch to The Chicago Tribune,
H. D. OLAFLIK A CO.
New Yore, Oct. 31. —Tho moat astounding
rumor of the day was to tho effect that H. B.
Claflin & Co., ono of tho greatest firms of dry
goods dealers on the continent,was embarrassed;
and, unless they received at onoo a largo amount
of money, thoy would bo compelled to suspend.
Tho junior member of tbo firm aaid to-night, to
a representative of tho Now York Tribune, that
tho rumors woro groundless. The firm
had out nono of Its own paper,
hut had indorsed tbo papor of their
customers to a largo amount. This paper had
accumulated in tho bands of banks and capital
ists in Now York and throughout tho country,
who were therefore directly interested in tho
welfare of tho firm. Much of this papor had
lodged in Wall street hanks ; and tho rumors in
relation to tho firm woro of special Interest to
thoso known as mercantile banks. A uumbor
of Broadway banks woro also interested in
the offioial intimation of difflcultiee about
to oppress the firm. Tho rumor was car
ried early to-day to thoso most interested, among
whom woro tbo Bank Presidents in whoso insti
tutions tho firm deposited.
A MEETING OF BANK PRESIDENTS,
These gentlemen met in the Central National
Bauk at about sp. m. Horace B. Claflin, junior
member of tho firm, was present, and briefly
stated tho position of bis house and its needs.
Ho said that the slight pressure that was upon
them originated in their open accounts, and not
in tho paper they hod outstanding. He
then retired to another apartment,
while tho bank officers discussed the
measures they should take for relieving the
firm. After a considerable time tho meeting ad
journed ; and Mr. Claflin was privately informed
of tho conclusion at which they had arrived, but
nothing definite can bo learned of what action
was taken.
At the request of tho Bank Presidents, T. D.
Tappan, Chairman of tho Clearing-House Com
mittee, has called a mooting of Dank Presidents
for 1 p. m. to-morrow to take action in the
matter.
AN OPINION OP THE Plim’fl STRENGTH,
A gentleman thoroughly cognizant with the
affairs of H. B. Claflin & Co. said
to-night, that there was no possibility
of the suspension of the firm, except
in event of the absolute withdrawal of public
confidence, and a refusal on the part of the
banks to give them ordinary facilities for carry
ing on thoir business. Every note matured bad
boon paid, and every note ns it matured would
be paid. The firm, ho said, had to-day $10,000,-
OUO assets above all their liabilities, irrespective
of the private fortunes of tho partners.
BOSTON.
Special Dispatch to The Chicane Tribune,
A DREAM OP FAIR THINGS.
Boston, Mass., Oot. 31.—1t ia evident that
tboro ia a aenao of aurpriea that, notwithstand
ing ail assurances that tbo business foundations
wore secure, and no alarm need be felt on ac
count of the sudden collapse of tbo stock mar
ket, the business interests, at first sustained,
should now, when confidence was returning,
show such
AN ALABUINO WEAKNESS.
To tbo community at large the prospect aliood
Is not a bright one, and fears begin to bo freely
expressed that wo are doomed to experience a
bard winter in this city. No department of mor
eautlle business is active. Even the retail
shops, much resorted to and generally crowded
at this season, are doing a comparatively small
business. Tbo conviction has reached tbo beads
of families and housewives that tbo safest
course is the saving one. In wholesale business
tbo fewest possible purchases oro made.
WASHINGTON.
Special Dispatch to The Chicago Tribune.
PURCHASE OP SILVER BULLION.
Washington, D, 0., Oct. 81.—It is understood
to bo the purpose of tbo Government to buy fine
silver bullion from timo to time, when, by pur
chasing at low prices, a little money can bo mado
by tbo operation.
RUMORED DEFALCATION.
A rumor was current to-day that another de
falcation bad been discovered In tbo Now York
Bub-Treasury. Neither Qon. Spinner nor Secre
tary Richardson bad. beard anything authentic
about tbo matter up to tbo hour of closing their
oificou.
[l’o the Associated Press. 1
REVENUE RECEIPTS.
Washington, Oct. 31.—Internal Revenue re
ceipts for tbo month ending to-day wore $0,008,-
401. Same month lust year, $0,304,103.
CURRENCY OUTSTANDING.
The following statement of United States cur
rency outstanding was issued from the Treasury
Department to-day. Old demand notes, $70,742;
legal-tender notes, now issue. $74,477,451;
legal-tender notes, series of 1800, $280,474,755;
one year notes, 1803, $83,285; two year notes,
1803, $25,000 ; two year coupon notes, 1803,
$31,000; compound interest notes, $473,240;
fractional currency, fire! luuuo, $1,819,032; boo-
NUMBER 72.
oml Issue, $8,101,490: third issue, $3,980,401;
fourth Ibbuo, first sories, $20,626,680; fourth ls«
suo, second series, $8,623,u20; fourth issue,
third aeries, $7,035,100. Total, $400,521,023.
BALTIMORE.
Special Dispatch to The Chicane Tribune,
pALTiudnE, Md., Oct. 81.—Tho financial
orlala h&s corn© closely homo to Baltimore during
tho past week. Tho monetary stringency,
which had previously boon restricted in its ef
fect, has at last borne with a heavy weight upon
legitimate business and manufacturers. Tho
trouble is especially folt in
TUB OYBTEU TRADE,
which should now bo employing 10.000 dredgers,
slmokors, and packers. Instead of which boats
are lying Idlo at tho wharves, and tho packing
houses are not half employed, Tho paralysis
thus produced extends all through tho counties
bordering on tho Ohosapcako Bay, tho chief in
dustry of which is tho catching of oysters.
Tho manufacturing establishments of tho city,
are either quiot or running on half-time. Tho
Baltimore k Ohio B&ilroaa has disenargod one
third of its forco of 8,000 men; and tho Knabo
and Oaoblo piano factories are as silent as a
churchyard. There is no business at all doing
except in the foreign trade, which continues
brisk on account of standing engagements now
being filled. Tho banks are so conservative that
business oau find no reliof from them, and there
is a strong fooling growing that if they do not
abandon their hoarding policy, au effort will be
made to forco them out of it by applications in
bankruptcy.
PHILADELPHIA.
Special Dispatch to The Chicago Tribune.
THE city’s PAY-ROLL,
Philadelphia, Oot. 31.—Tho following reso
lution has boon adopted in tho Councils :•
Resolved, That in order to relieve as far as posslblo
tbs necessities of the employes of the city who have
been thrown nut of employment, the heads of tbd
Highway, Survey, water, and City Property Depart
ments Inform tho Connells if any, and what, work cun
be prosecuted during the winter; and what action
relative thereto may be necessary.
Tho importance of euch a measure at tbia
aoaaon.ia bovond question,
Special Dispatch to The Chicago Tribune,
MORGAN, YOUNG, ALTEUUB A CO.
Philadelphia, Oct. 31.—Morgan, Young. Alto*,
mue «k Co. report their liabilities at $0,000,000;
and etato thoir ability to pay 76 to 80 cento on
the dollar.
MANUFACTURERS.
Special Dispatch to The Chicago Tribune,
THE SILK-TRADE AT PATERSON.
Philadelphia. Oct. 31.—At Paterson, N. J.,
Dexter, Lambert & Co.'a silk-mill has resumed
operations, employing about 200 hands. Tbo
Slrango silk-mill Is miming on half time, with
no reduction of wages. Havill & Booth’s silk
mill is running throo-fourtlj? tirao, employing
lose than 100 hands ; when in full operation 450
are employed.
IRON MANUFACTURE IN PATERSON.
Tho Passaic Rolling-Mill is working on full
ilmo. Tbo Paterson Iron Company is working 103
mon and will continue through tho winter. Tho
Latimer Boiler Works, Watson Manufacturing
Company, and tho MoNab & Harlem Company
have enough work on hand, and will probably
continue through tho winter. Tho majority of
the stoppages in tbo various
COTTON AND WOOLEN MILLS OF PHILADELPHIA
woro made with a view to a readjustment of
wages. A prominent mill-owner informs your
correspondent that standard goods aro as low
now as before tbo war, notwithstanding tho
fact that tbo prices of cotton and labor aro al
most double.
THE BUFFALO MANUFACTURERS.
Special Dispatch to The Chicago Tribune.
Buffalo, N. Y., Oct. 31.—it is said that tbo
manufacturers of Buffalo propone to take action
in tho matter of preventing suffering this winter
in consequence of the great cutting down in the
number of workmen. There will bo between
1,000 ond 2,000 people thrown out of employ
ment.
DAVENPORT. IA.
Special Dispatch to The Chicago Tribune,
.Davenport, la.. Oct. 01.— Several hundred
workmen woro discharged from tho Rock Island
Arsenal to-day.
IK HOBOKEN, N. Y.
New York, Oct. 31.—A foathor factory in West
Hoboken has closed on account of the scarcity cl
money. Two hunched hands aro thrown out ol
employment.
AT BATAVIA, ILL.
Batavia, 111., Oct. 31.—Tho United States
Wind-Engine «k Pump Company, tho Newton
Wagon Manufactory, and the Challenge Mill
Company, all of this place, liavo each reduced
their worklng-timo to uino hours per day. For*
tunatoly, tho stockholders in thoso institutions
are pecuniarily so situated and tho goods they
manufacture are so greatly in demand, that the;
will be enabled to run with quito a strong force
throughout tho winter. Tho papor-mill is at
present compelled to run night and day in ordoi
to supply its orders.
The stone-quarries, which givo employment to
a large number of men in the summer season,
are employing but few men at present.
L. F. Barker, one of our heaviest stone-deal*
ora, and a railroad contractor, has ceased work
on his contract in Indiana, discharged his work
men, and has returned to Batavia, from his in
ability to procure, at present, money to carry
forward his enterprise.
DAVENPORT, IA.
Special Dispatch to The CMcaan Tribune.
Davenport, la., Oct. 31.—1t is denied that
tho Hon. Hiram Price will resign tho Presidency
of the First National Bank of this city. This
bank to-day .declared a dividend of 10 per cent,
payable to-morrow. The Davenport National
Dank has also declared a semi-annual dividend
of 8 nor cent. The Davenport National has
boon In operation eight years and a half. It
has divided profits among its shareholders sev
enteen times, the first five times at 5 per cent,
then eleven times at 7 per cent, and tho last
time at 8 per cent, passing $7,000 to a surplus
of over $03,000. Its capital is $200,000. In the
eight years and a half it has paid back to its
shareholders $220,000, and passed $03,000 to
surplus.
Social Dispatch to The Chicago Tribune.
Davenport, la., Oct. 31.—Tho failure of H.
O. Chapman, dealer in dry good*, &0., at Cory
don, Wayne County, is announced. Liabilities,
$10,000; $7,000 owed in this city, and $3,000 iu
Chicago.
CINCINNATI.
Cincinnati, Oct. 31.—The Board of Trade to
day referred to tho Committee a resolution
looking to tho expediency of tho Government
issuing 3 C 5-100 per cent bonds, convertible ou
demand into greenbacks.
THE TRADES.
NAVY YARD EMPLOYES DISCHARGED.
Pobtsmodth, N. 11., Oct. 31.—Four hundred
workmen wore discharged from the Navy Yard
to-day. _
THE RAILROADS.
CHESAPEAKE A OHIO DEFAULT.
New York, Oot. 31. —At a mooting of the Di
rectors of the Chesapeake A Ohio Railroad to
day, no provision was made for paying the cou
pons duo to-morrow, but, instead, it was decided
tbat the bondholders bo asked to fund tbo four
coupons next maturing into 7 per cent income
bonds. Tbo Company will make a statement to
Us creditors ami bondholders to-morrow, or
very soon. It is stated that 0. P. Huntington,
President of the Company, oilers SIOO,OOO of the
$-150,000 gold required for this purpose, pro
vided other wealthy directors will furnish the
remainder. Tbo Express says : “ Tbo default
of tbo Chesapeake & Ohio Hoad is a matter for
general regret, and will, no doubt, damago
American railroad credit in Europe, while boro
It will result in serious lucouvouiouco to many
small investors. There aro rumors of other de
faults to-morrow, but wo prefer to wait fur uu
official announcement of tbo fact.”
THE ERIE COMPANY,
New York, Oct, 31. —The 13rlo Railway Is re
ducing its force in tbo dilToront shops along the
lino of road, and the workmen retained will ho
put on tbroo-quartor timo, commencing to-mor
row.
AT WEST ALBANY.
Albany, Oct. 81.—Twenty workmen wore dis
charged from tbo railroad shops at West Aibunj
to-night.
COL. THOMAS A. SCOTT’S LOAN NEGOTIATIONS IN
EUllOl'B.
Philadelphia {Oct. 28) Correwonienec of the Xeto York
Tribune,
001. Thomas A. Buott, President of Iho Texas
A Paclflo Hallway, and Vlco-PioMldont of tbu
Pennsylvania lloflroad, roturnod to tbit) city yes
terday, after an absence in Knropo of several
mouths. Ho wont there hoping to negotiate
(Confirmed on the Eiuhth fa<je,}

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