Newspaper Page Text
BIRMINGHAM STATE HERALD.
GLUME 22J BIRMINGHAM, ALA., TUESDAY, DECEMBER 24, 1893. NUMBER 38. STREET RAILWAY STRIKERS Accept a Proposition From the Traction Cempany. PHILADELPHIANS ARE GLAD Seven Days of Danger and Inconvenience Caused SEVERAL STREET RIOTS YESTERDAY Nineteen Hundred Men Out of Employ ment, the Majority of Whom Will Leave the City—Three Rioters Sentenced. Philadelphia, Dec. 23.—After lasting seven days the ruinous strike of the mo tormen and conductors of the Union Traction company came to an end to night by the employes accepting the terms of the company. The men struck for a working day of ten hours, $2 p*»r day and the recognition of the Amalga mated Association of Street Railway Em ployes. The terms of the agreement are as follows: Philadelphia, Pa., Dec. 23. 1895. To the Committee of the-Employes of the Union Traction Company, Philadel phia, Pa.— Gentlemen: Considering your proposi tions seriatim would say first that we do not propose to govern the membership or connection of any employe with any lawful association; but such connection with such association of any character whatever must not enter into the rela tions between any employes and the company, and cannot be recognized in the business conducted between us. 2. That any grievance of whatever characterthat any man or men may have will always be considered fairly ' and promptly before such men and -the offi cers of the company, and the company will afford such men opportunities to examine the records of such employes to their entire satisfaction. 3. We accept your statement that all men discharged since December 10, 1895 (except those discharged for Just cause), Will be reinstated upon examination of the records of such employes, the com mittee representing the employes to fur nish the list of those they believe to have been unjustly discharged, and the men allowed to divide the runs, other than the runs laid out for the present employes, meaning those who have entered our ser vice since the evening of December 17. The above proposition, I think, should be accepted by the employes, and will be cheerfully accorded by the management. Tours very truly, J. R. BEETEM, General Manager. The committee on behalf of the em ployes, in their acceptance of the terms laid down, asked, however, that because of the losses already incurred by such a large body that the president, directors and managers of the Union Traction company will endeavor to find an honor able settlement of all contracts with new men, so that the old men may find em ployment as soon as possible, and until such time they will equalize the employ ment of all the men as far as possible. The settlement of the strike Is the re sult of numerous conferences throughout last night and today between the execu tive committee of the strikers and Union Traction company officials. Propositions and counter propositions were made each side until the agreement decided upon was finally reached. Throughout all these conferences the Union Traction company absolutely refused to recognize any one in the negotiations but its own employes, and the officers of the Amal gamated association were not permitted to be present at any time. The victory Is with the company. The company has all along publicly stated that It was at any time willing to grant a respectful hearing to any grievances that its own men might have, but that it would rec ognize no association. The only point partially gained by the men was the un official recognition of its association. On the other (which they struck for) they have gained nothing and are worse off by a week’s salary and the occupation and the places of 1900 of them. These 1900 new employes will have the prefer ence In the runs of the cars and the old m<-n will have to act as ‘strippers’’ (ex tra men.) All of the 1900 new men will not remain here, as n majority of them were simply supplied during the strike by contractors. Still some 200 or 300 of the new men will remain here perma At a mass meeting of the strikers to night the agreement entered into by their executive committee with the Traction officials was ratified. The conclusion of the strike will be greeted with Joy by citizens of all classes. The disturbances in the streets, the danger of riding in the cars, the incon venience of walking long distances, and the enormous financial loss to the city has made the strike the most disastrous ever known in Philadelphia. The Christ mas shopping trade was killed, and di rectly and indirectly it is a fair esti mate that the seven days’ strike cost the Traction company, Its employes and the merchants of Philadelphia $2.000,OOP. Aside from the satisfastlon caused by the settlement of the strike from a busi ness standpoint. It is most fortunate that it has como to an e.nd, as lawlessness and outbursts were on the increase and were each day that the strike continued be coming mora serious. The disturbances in the treets today were worse than any day since the strike began. The company started out more cars on its various lines this morning than at any time since the start of the strike. With the exception of the Market and Chest nut lines there was hardly a car on any of the other streets that started that did not return to the car barns In a shat tered condition. In every section of the city the ears were stoned and the motor men, conductors and policemen guarding them cut and bruised by bricks and other missiles. The various squads of policemen sta tioned at central points were kept busy hurrying to and fro to disperse the mobs that were assaulting cars. The most serious disturbance of the day occurred at Seventeenth street and Girard avenue. Here a big crowd attacked a car guarded only by two pijlicegien. The assault by the mob upon the car was vigorous and determined, and it seemed as if the mo torman and policemen would be killed. Finally when Policeman 1,'sherhack had had his wrist broken and his head cut open with a brick, he drew his revolver and fired into the crowd. William H. Matthews, a striking motorman, was shot in the head and Samuel C. Crossley was shot in the knee. As soon as the police man opened fire the crowd scattered and trampled each other under foot in their efforts to get out of range of the bullets. Matthews and Crossley were taken to the hospital. The former has only a scalp wound, but the latter wras shot In the knee and is in a precarious condition. The doctors cannot probe for the ball and even if he lives he will lose his leg. Through their attorneys, the strikers this afternoon filed an application in the court of common pleas for the appoint ment of a board of arbitration, upon the compulsory arbitration act of 1893. Four men accused of rioting in the i streets were severely dealt with today in the criminal court. They were among the rioters arrested on Tuesday for smashing car windows. They were in dicted on Friday by the grand jury, tried today and found guilty. Judge Gordon sentenced three of them to two years’ im prisonment in the eastern penitentiary, and one of them to eighteen months. MUST BE QUASHED Says the Supreme Court of George Moore’s Indictment. Washington, Dec. 23.—The indictment returned by the grand jury for the Southern district of Alabama, upon which George S. Moore, a clerk in the Mobile postoffice, was convicted of em bezzling $1652, will have to be quashed. So said the supreme court of the United States today in ruling upon Moore’s ap peal from the judgment of the district court. Justice Brown announced the ( opinion. The reasons for this decision I W'ere: 1. That the indictment contained no averment that the money embezzled came into Moore’s possession in his fidu ciary relation to the government. 2. If the words were surplusage then it was necessary that the indictment had specified “as money of the United States” so that it could be identified by describ ing it as “coins or bank notes.” etc. 3. As the statutes make the offense charged a felony, indictment should have alleged that the money was “feloniously embezzled.” The judgment below was reversed with instructions to quash the indictment. MEMPmSCOTTON EXCHANGE Adopts Resolutions Recommending No In crease for 1896 in View of a Proba ble War. Memphis, Tenn., Dec. 23.—The move ment looking to no Increase of the cotton acreage next year was Inaugurated by the Memphis Cotton exchange this after noon at a general meeting called for the purpose. The preamble to the resolutions adopted sets forth that a large crop of cotton grown at heavy expense brings but little If any larger total value, con trasting the present with past years to establish the fact, and adds; “Another matter for the farmers to bear In mind is that at the present time, when there Is a remote possibility of a war, If such should occur the inevitable result thereof would be to depreciate the value of cotton and appreciate the value of all food Crops; therefore be It “Resolved, That the Memphis Cotton exchange urgently recommends to the producers that the production of home supplies be made the first consideration In planting operations for the coming year and that the acreage of cotton be not increased over that of last year. “Resolved, That we approve and In dorse the American Cotton Growers' as sociation for bringing about the reduc tion in the acreage of the crop now be ing marketed, and we respectfully urge the Hon. Hector D. Lane, the president, and his coadjutors, the presidents of the various cotton states of the said associa tion, to continue In the good work and to take up the matter at the earliest practi cable moment and urge it again upon the attention of the cotton producers of the south. “Resolved, That the various cotton ex changes throughout the south be and are hereby requested to co-operate with this exchange In this matter, and that the southern newspapers are also requested to publish these resolutions.” FATAL FURNACE FIRE. Seven Men Burned and Three Will Doubt less Die. Pittsburg, Pa., Dec. 23.—Seven men were terribly burned early this morning while at work on the top of Schoenber ger’s blast furnace, at Elna and Four teenth streets. The damage to the fur nace is slight, but the accident was most exciting, all of the men having had a narrow escape from cremation. The In jured. who were taken to the West Penn sylvania hospital, are Philip Bowman, colored; Frederick Lear, Michael Kelley. William Moorey, Joseph Rodman, An thony McNally, David Scott. The furnace had been closed several days. Yesterday the fires were re lighted and the furnace charged. This morning the seven men were completing repairs at the top of the furnace stack, 75 feet above the ground, when, without warning, the bell lifted and a huge vol ume of burning gas enshrouded the top of the structure and the workmen on the ground ran to the elevator and when they reached the top a pitiful sight met their gaze. Almost every vestige of clothing had been burned from the bodies of their fellow workmen. Bowman and Lear had inhaled the flames, as well as being ter ribly burned about their bodies. All were quickly lowered to the ground and aid summoned. Lear, Bowman and Moorey are thought to be fatally burned. Kel ley Is also In a precarious condition. The others will probably recover. DEi V X auzaav Middleton Bank Officers go to the Peniten tiary. Philadelphia, Dec. 23.—In the United States district court today Judge Butler sentenced Charles W. Raymond, presi dent, and Edward M. Raymond, cashier, of the Middleton National bank, who were convicted on the charge of misap propriating funds of the defunct bank, to seven years and five months' impris onment each in the eastern penitentiary. FIRE AT PINCKAHD. Only One Business House Remains in the Town. Montgomery, Dec. 23.—Fire destroy ed the business portion of Pinckard Sun day morning early. The fire slarted in the Hubert hotel. The losses are esti mated at M700, with insurance of J500. But one business house was left ORDERED TO QUARANTINE. Norwegian Bark Loses a Man From Yellow Fever. Mobile, Dec. 23.—The Norwegian bark Turist, from Pernambuco, which put into the lower bay thirty miles from this city yesterday afternoon, having lost a man front yellow fever during the voyage, was this morning ordered to Ship Island quarantine had left for that station. Ministers on the Message. New York, Dec. 23—At the weekly meeting of the BaptlBt ministers of this city this morning a resolution condemn ing President Cleveland’s Venezuelan message was laid on the table by a vote of 22 to 12 after a hot debate. CONGRESSIONAL CONTESTS ' i Cases Referred to Their Respec tive Committees. MEMBERS TELEGRAPHED FOR Wanted to Discuss a Financial Measure Next Thursday. A JOINT RESOLUTION INTRODUCED Appropriating $1,500,000 for a Roeorve Supply of Projectiles for the Navy. House in Session Thirty Minutes. "Washington, Dec. 23.—There was a fair attendance of members when the speak er's gavel fell at noon today. Mr. Tracy, republican, of Missouri, was appointed to the naval affairs committee in place of Mr. Hart, democrat, of Penn sylvania. Mr. Daniels, republican, of New York, chairman of the cummitte on elections, offered a resolution authorizing the ap pointment of a clerk for each of the three branches of the committee and au thorizing the committee to sit during the sessions of the house. Agreed to. A section of the resolution authorizing the committee to apportion the contested eases among the three committees was objected to by Mr. Crisp and the -cases were, under the rules, distributed by the speaker, the first nine going to commit tee No. 1, the next eleven to committee No. 2 and the remainder to committee Nn .1 Mr. Dingley, chairman of the ways and means committee, stated that the con current resolution providing for a holi day adjournment, with the senate amendments, had been considered by the ways and means committee at their meeting this morning. They had unani mously declared that In view of the re quest contained ir. the president’s mes sage and under all other circumstance* it would not be appropriate to take a holiday recess until a measure of relier had been considered by the house. Allab sent members had been telegraphed for and he hoped they would be present on that day. On motion of Mr. Aldrich, republican, of Illinois, chairman of the committee on accounts, a resolution was agreed to di recting that committee to designate what; committees should be allowed clerks. t On motion of Mr. Dlngley the house at 12:30 p. m. adjourned until tomorrow. Chairman Dlngley of the committee on ways and means requested the sergeant- • at-arms to telegraph absent members of the house that their presence In the house on Thursday was necessary to consider a financial measure to be re ported on that day. Telegrams were sent to 120 absentees. • A resolution was offered by Mr. Hen derson, republican, of Iowa, a member of the rules committee, having for Its purpose the clearing of the way in the house for any financial bill which may be reported by the ways and means commit tee. The resolution provides that when the ways and means committee shall re port upon the questions of raising rev enue now before it, it shall be in order, on motion) of the chairman of that com mittee, to take up and dispose of the same in the house. Among the bills introduced in the house today was the following: By Mr. Brewster, republican, of New York—To relieve the United States treas ury by providing that hereafter no gold coin of a less denomination than $10 shall be coined, nor shall there be issued any legal tender notes or paper currency of any kind of less denomination than $10. Mr. Cummings, democrat, of New York, offered in the house today a Joint resolu tion directing the secretary of the navy to accept the Katahdakin and to make her a part of the navy. Mr. DaJzell, republican, of Pennsylva nia, offered in the house a Joint resolu tion appropriating $1,600,000 to enable the secretary of the navy to contract for a reserve supply of projectiles for the use of the navy. A preamble to the resolution calls at tention to the section of the annual re port of the secretary of the navy, which states that the naval service has not re serve supplies of projectiles for itself or for auxiliary cruisers which would be fitted out in time of war. The chairmen of the three election com mittees are making arrangements to have their committees meet as soon as possi ble. Mr. Daniels of New York, chairman of committee No. 1, will endeavor to get his committee together tomorrow. To this committee the following cases were re ferred: Robinson against Harrison. Third Alabama district; Aldrich against Robbins, Fourth Alabama district; Good wyn against Cobh, Fifth Alabama dis trict; Aldrich against Underwood, Ninth Alabama district; Belknap against Me Gann, Third Illinois district; Rinaker against Downing, Sixteenth Illinois dis trict; Felton against Maddox, Seventh Georgia district; Denby, Jr., against Owens, Seventh Kentucky district; Hop kins against Kendall, Tenth Kentucky district. , . , Committee No. 2. Mr. Johnson of In diana. chairman, will probably meet Thursday. It has the following cases: Coleman against Buck. Seventh Louis iana district; Beattie against Price. Third Louisiana district; Benoit against Boatner, Fifth Louisiana district; Booze against Rusk. Third Maryland district; Vanhorn against Tarsney, Fifth Mis souri district; Mitchell against Walsh. Eighth New York district; Campbell against Miner. Ninth New York district; Chesebrough against McClellan, Twelfth Now York district; Cheatham against Woodward, Second North Carolina dis trict; Thompson against Shaw, Third North Carolina district; Martin against Lockhart, Sixth North Carolina district The third committee, with Mr. McCall of Massachusetts as chairman, has set' no day for meeting. It has the following cases to dispose of: Murray against El liott First South Carolina district; Morr man’ against Latimer, Third South Caro lina district; Wilson against McLaurln, Sixth South Carolina district; Johnson against Stokes, Seventh South Carolina district: Davis against Culberson, Fourth Texas district; Kearby against Abbott, Sixth Texas district; Rosenthal against Crowlev, Tenth Texas district; Thorp against McKenney, Fourth Virginia dis trict; Comette against Swanson, Fifth Virginia district; Hogg against Otey. Sixth Virginia district; Yost against Tucker. Tenth Virginia district; Newman against Spencer, Seventh Mississippi dis trict. Under these references all the cases coming from any one state are assigned to the same committee as far as possible. TINKERING JIE TARIFF Republicans on the Ways and Means Committee IN IMPORTANT SESSION Two Financial Measures for Relief Will Be Introduced AND IMMEDIATE ACTION REQUESTED Committeemen Act in Unison and the Sil ver Men Are Reconciled—Five Per Cent Bonds Proposed to Pro tect the Reserve. Washington, Dec. 23.—Four hours were occupied by the republican members of the ways and means committee this af ternoon In preparing a measure of relief for the treasury. There was a satisfac tory unanimity of opinion among the members as to the course to be pursued in order to meet the deficit in the national finances. Naturally the first suggestion was to secure revenue in the line of re publican policy, which is by a duty on imports. When the conference was ended very material amendments were made to the present tariff law, which, it is es timated, will increase the revenue about $10,000,000 annually. Anomer measure, wmcn is sun invum plete, will also be reported at the same time, looking to an issue of bonds and certificates of indebtedness, bearing a low rate of interest, to meet the present emergencies. The two measures will not be amalgamated, but will be brought be fore the house separately. This conclu sion differs radically from the sentiment expressed at the secret caucus of the re publican members held at the capitol on Saturday nifeht last. At that time nearly ail the republicans favored one general bill, which, it was contended, should stand or fall with the senate and the president upon its merits. Today, howev er. the disposition was so general to re port two different measures that the agreement was reached without delay. The reason for this was obvious. It was explained by some of the members pres ent that the silver republicans in the house and senate would vote with their party on the tariff measure, while they would be forced by the very nature of things to oppose the bond features of the measure. It was primarily to secure the support of the silver republicans, and not put them in an antagonistic position with their party, that the decision was reached to divide the two propositions. The two bills will be reported to the bouse on Thursday of this week and will V.e passed with little delay. One and pos sibly two days will be devoted to their consideration, but It is improbable that Uiey will be passed before the close of the session Thursday, which may be pro longed to extend the time for discussion. The substantial features of the tariff bill are these: Making a 60 per cent rate on wool, with a 60 per cent compensatory duty on manufactured cloth, over the act of 1894. A 60 per cent rate of duty over the 1890 law (McKinley) on lumber. A 25 per cent Increase over the act of 1894 (Wilson bill) on live stock, cereals and dairy products, and a horizontal Increase of 15 per cent in the rates of duty on all other sched ules over the law of 1894. In this connection a proviso is added that in no case shall the rates of duty exceed those of the McKinley law, ex cept in cases where the present rates of duty are higher than those of the Mc Kinley tariff law. The proposed amend ments will remain in effect until August 1. 1898. The increase of duty on farm products ;was made at the request of the members representing distinctively agricultural states, their contention that the present law is ruinous to their granger constitu ents. The accompanying bills provide for an issue of 5 per bonds to protect the gold reserve In the treasury, with a proviso that the currency redeemed by the bonds shall not he paid out while a deficit ex ists in the treasury. It differs from the original purpose of the republican lead ers. which was to glvft authority to the secretary of the treasury to issue a 5 per cent bond «s a popular loan to main tain tjie gold reserve and for no other purpose, with a proviso that the redeem ed greenbacks shall not be used to meet current expenses, but be retained as long as necessary as a part of the redemption fund authority to Issue to national banks circulating notes up to the par of the bonds deposited as security therefor, and to reduce the tax on national banks' circulation, and authority for the Issue of certificates of indebtedness to meet temporary deficiency In receipts until the revenues can be provided. In addition to the sale of bonds the bill w‘” also authorize the secretarv of the ( usury to issue certificates of in debt ness bearing 2 per cent interest, not I ej^eed *50.00().000 In amount, to mee\ current deficiencies of the revenues. SEVEN MINUTE SESSION AncHhe Clearing House Association Decided to Issue 6 Per Cent Certificates. Post Results. Nrw York, Dec. 23.—The Clearing Hoi»e association held a largely attend ed meeting at noon today. Great Interest was shown In the meeting, all the prom inent banks in the city being represent ed. The session was very short, lasting only seven minutes. A number of the prominent members met at the house of l*resident Tappan of the Gallatin Na tional bank last night and decided upon a course to be pursued. This was to ap point a loan commission, with power to Issue certificates to an unlimited amount at the rate of 6 per cent, with a 1-16 commission. After going into session the following resolution was adopted: Resolved, That a committee of five be appointed by the chair, with the pres ident to receive from banks members of the association bills receivable and other securities, to be approved by said com mittee, who shall be authorized to Issue to such depositing banks loan certificates bearing interest at 6 per cent and one Btxteenth on the face thereof, and such loan certificates shall not be In excess of the market value of the securities or bills receivable so deposited, and such certifi cates shall be paid in settlement of bal ance^ at the clearing house, and all the rules and negotiations heretofore adopted V . -._ In the Issue of such certificates shall be in force in the present issue. The following was the committee ap pointed: F. D. Tappan, president Galla tin National bank; Henry W. Cannon of the Chase National bank. George G. Wil liams of the Chemical National bank, E. H. Perkins, Jr., of the Importers and Traders and W. A. Nash of the Corn Ex change. This is the same committee which acted during the panic of 1893. It was announced that no banks ap plied for any certificates. The committee of the Clearing House association which met at President Tapptm's office last night did not get into session until mid night. After agreeing upon the adoption of the foregoing resolution the substance of it was at once cabled to London brok ers, and to this action is attributed the strong opening of the American market there. After the adjournment of today’s clear^M lng house meeting President Tappan said: "Our action today was taken pure ly as a preventive measure. We want to show the business men of this country that there is a strong power behind them.” On the occasion of a similar action by the clearing house in the panic of 1893 over $42,000,000 of certificates were issued by the loan committee. The commission of 1-16 of 1 per cent on clearing house certificates goes to the clearing house to cover the work of issu ing the certificates. No commission was charged In 1893. but in all issues previous to that a commission of >4 of 1 per cent was charged. It is believed that the ac tion of the banks will tend to prevent, or at least diminish, gold shipments. Heport Contradicted. Washington, Dec. 23.—Such members of the Indiana delegation as remain in the city emphatically contradict the state ment that the presidency of the Vene zuelan commission has been offered by the pfesident to Ex-President Harrison, and by him declined because of physical inability to encounter the fatigue of the necessary journey, and add that he is in /the best of health. SEARCHING FOR SCHOLARS, In Appointing the Venezuelan Commission President Cleveland Will Not Select Professional Politicians. Washington, Dec. 23.—The Venezue lan boundary commission will probably not be announced by President Cleveland until the latter part of this week or the first of next week. It Is to consist most likely of three members. The president’s aim is to put on the commission only such men as will Inspire respect and con fidence on both sides of the Atlantic and whose acquirements will be acknowl edged by the world of statesmanship, science and letters. In making the se lections men with whom politics Is sim ply an Incident and not their profession will be preferred, and one close to the president is authority for the statement that probably not a single name so far mentioned will be found on the commis sion. The president, It Is known, is searching the universities and colleges of this country for suitable men. The high standard which the president has set for the commission restricts the cir cle from which the members can be cho sen and In this sense exemplifies his work. Secretary Olney is In daily con sultation with the president on the mat ter. The comptroller of the currency has declared a fifth dividend of 20.per cent to the creditors of the National bank of Knoxville, Tenn. It is learned that the suggestions made to Secretary Herbert that he recommend a congressional appropriation for the construction of four more battleships of the Kearsarge type, in order that con tracts for their construction might be awarded to the three bidders for build ing the two authorized by the last con gress and thus secure advantage of the economical proposals made, were sub mitted Informally .by members of the board of bureau chiefs and were not em bodied in their formal report, the decis ion having been reached that it was out side the province of the board to make such recommendations officially. The board was mere called upon to examine and report upon the bids offered. Never theless, the suggestions will have all the force of a formal report, in which form they would probably have been embodied if consistent with the functions of the board. The recommendation of thei board as such when in the formal report is that the bids of the Newport News Ship Building and Dry Dock company for constructing the Kearsarge and her mate on plans prepared by the navy de partment be accepted; provided, how ever, that the Union Iron works of San Francisco be given the opportunity of scaling its bid to a figure acceptable to the secretary, in which event the New port News company be given the con tract for building one ship and the Un ion Iron works the contract for the other. In the informal, but nevertheless semi official, manner previously noted the sec retary is urged to consider the report and its recommendation as contingent only on his rejection of the plan proposed for securing six battleships In place of two. How much this radical proposi tion has Impressed the secretary cannot be ascertained, as he has given no hint of his views on the matter. The sugges tion. however, will undoubtedly be given consideration by the president and the cabinet before Mr. Herbert acts, should he be Inclined to look upon it favorably. wnmiuAWAij ur uujjUi Cleveland and Carlisle Believed at the Re turn of Confidence. Washington, Dec. 23.—The withdrawal of $1,050,000 at New York today reduces the treasury gold to $68,500,000. Of the gold withdrawn $250,000 was in bars for export. The gold deposited in various sub-treasuries today, aggregating nearly $200,000, does not yet appear in the treas ury figures. Until congress acts, or It be demonstrated that it will not act, no Is sue of bonds is anticipated at the treas ury department. Secretary Carlisle conferred with the president several times, and both were much relieved at the apparent return of confidence, as evidenced in the rise in the price of American securities at home and abroad. NOTICE OF WITHDRAWAL. The Seaboard Air Line Will Leave the Freight Association. Atlanta, Dec. 23.—The Seaboard Air Line has given sixty days notice of its Intended withdrawal from the Southern States Freight association. Vice-Pres ident St. John’s letter Is given out for publication. In it he says that the Sea board withdraws because the organiza tion of the association has not been com pleted, in that a new arbitration commit tee has not been elected and there is a deadlock now over the matter. He de clares that some of the stronger lines are not disposed to treat the weaker lines fairly. The withdrawal of the Seaboard, if it occurs, will be apt to lead to a rate war. [OK CLOUDS DRIFTING And the Sun Shines Once More n on Wall Street. DIt/,UNTLED SPECULATORS ps ^ - Vy r Yesterday Wearing Smiles of Self* * Congratulations - • >ND KEPT BUSY COUNTING PROHTS Capitalists Have Their Eyes Turned to Washington and Say That a Bond Issue Must Come Without Delay. New York, Dec. 23.—The dark clouds which have hung heavily over New York’s financial Interests for tho past few days began to break and roll away this morning, and the gleam of sunshine which came creeping through the part ing clouds was joyously welcomed by those whose Interest lay in that direc tion. Indeed it was a radical change that came over the financial situation today, the tendency throughout the whole mar ket being for a steady advancement, which greatly encouraged operators and served to impart a great feeling of relief and restore confidence in operations. Certainly Wall street men wore a very happy expression upon their counte nances, which clearly showed which way tne tme was turning. Banners, uroners, investors and speculators were Inex pressibly relieved. Those whose security showed them immense losses were happy that some of the loss was regained; those who were upon the ragged edge of ruin Saturday night were placed upon their feet again by the rising tide, and others who had foresight enough to see that the crisis had been reached with the close of business Saturday noon and bought In at the lowest prices were exultant with Joy and busy counting profits. The market enjoyed a sharp recovery, at the very beginning, due principally to a favorable change In London, the prompt steps taken by the associated banks to relieve the money pressure by, providing for an Issuance of loan cer tificates and the possibility of a new gov ernment bond Issue. First prices for the stocks which suffered the most loss last week showed gains of from 1 to 6 points over Saturday’s closing prices. Ofcourse, as might be expected, some Irregularity followed, but In the. afternoon the ten dency again became upward. The chief features of the market Itself were the very large number of outright purchases by "outside” investors, as is customary* in conditions that prevail in times like these, the market affording, in the opin ion of these Investors, unusual opportu nities for good and prod table, invest ments. The covering of the shorts was another noticeable feature. Altogether the day was one for congratulations among Wall street men, and many of thd operators who came to business in the morning with fear and trembling lert in the evening with a light heart and ai prayer of thanks. It was undeniably ad mitted that the action of the banks and trust companies In regard to the money market did much to relieve the situa tion. The leading institutions supplied their regular customers among the brok ers at 6 per cent. But on the stock ex change, in some instances, from 10 to 75 per cent was paid for call loans. On the whole there was comparatively lit tle tightness tn the money market, al though it was quite exciting at times, and loans which ran, out today were re newed at 6 per cent before a regular rate was quoted. Holders of good securities had little difficulty In supplying their wants. . . . The large amount of money brougnt into the street by the outside public to purchase bonds and stocks was greatly welcomed and did much to relieve the pressure. The two failures of the day—one on tne stock exchange and one on the dated—were of little importance and had no bearing on the mai*;et. Settlements through the New York stock exchange clearing house developed no weakness on the part of any brokerage firm, although it was well understood that several houses tn the street, which had been pinched by the big decline last wee*, were not too sound. The rally, perhaps, saved them from the disastrous storm* The eyes of Wall street are now turned toward Washington. Financial men say that in order to keep up the confident* restored today some favorable action on the money question must at once b» taken by congress. Apprehension still existsi In the street that congress will shirk its duty, and it is predicted that If this Is done another disaster in the stoch market will result unless the president comes to the rescue. The new bond issue question has taken strong hold in Wall street, and already* bankers are holding informal confer ences as to the emission. The feeling I# that if congress does not heed the presi dent’s financial message Mr. Cleveland himself will take the matter In hand and declare a bond issue without delay. Some rumors had It today that this lat ter action would be taken tomorrow, but this is not reasonable, inasmuch as It t® known that the ways and means com mittee have a relief measure under ad visement which will likely be reported t® congress some time this week. Cliauncey M. Depew, who was a vis itor in the street today, said he would venture the prediction that there would he a bond Issue within five days. The engagements of gold for Wednes day’s steamers fell below estimates, only $550,000 having been ordered for shipment for the day mentioned. lip to a lat« hour but $250,000 gold bars had been spo ken for at the sub-treasury. The depos its of gold at the sub-treasury were $100.; 000 by the Phenlx National hank and $50,000 by the Bank of America. The withdrawals were $350,01)0 by the British American Mortgage company, $50,000 by the Bank of British North America and $HH),000 by the Merchants’ bank of Can ada. _' C. S. RAILROAD WRECK. Unknown Tramp Killed and Two Employe* Injured. Chattanooga, Tenn., Dec. 23.—In a double-header, head-end collision on the Cincinnati Southern railroad this morn ing, near Cardiff. Tenn., an unknown tramp was killed, and Fireman McCleN lan and another man named Heath were injured. The derailed cars were total!* wrecked and the engines were locked, which will block the track for five or six hours. The accident was due to • misunderstanding of train orders.