Birmingham state herald., December 28, 1895, Image 1

About Birmingham state herald. (Birmingham, Ala.) 1895-1897

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BIRMINGHAM STATE HERALD.
VOLUME 22: BIRMINGHAM, ALA., SATURDAY, DECEMBER 23, 1895. NUMBER 42.
SENSATION INJHE SENATE
Mr. Hill’s Resolution Recom
mends 3 Per Cent Bonds
PAYABLE IN EITHER COIN
Treasury Notes Should Be Redeemed and
Then Cancelled.
THIS SIMPLY FOR TEMPORARY RELIEF
Senator Teller Becomes Very Much
Wrought Up Over the Resolution
and Applies What Mr. Hill Im
agines an Insult.
Washington, Dec. 27. The financial
question came to the front In the senate
today in the form of a joint resolution
introduced by Mr. Hill, democrat, of New
York, to the effect that all bonds to be
hereafter issued shall be made payable
In gold coin or In standard silver dollars
at the option of the holders, and that no
bond containing such option shall bear a
higher rate of Interest than 3 per cent.
He made a long, carefully prepared
speech on the subject, winding up with
the declaration that his proposition was
a measure simply for temporary relief,
but that as a measure of permanent re
lief it was reasonably clear that all
United States treasury notes should be
redeemed and then canceled.
Mr. Teller was wrought up to a state
of indignation by Mr. Hill's proposition
and speech, and in his invective against
the president, the secretary of the treas
ury and the treasury subordinates, made
a contemptuous allusion to the “tide
waiter who now assumes to speak on the
financial matter.” Everybody understood
that it was the New York senator who
was thus referred to, but when Mr. 11111
subsequently took up the offensive epi
thet he was assured In the most posi
tive manner by Mr. Teller that he had
no reference whatever to the senator
from New York, but had only meant to
apply the epithet to such treasury
subordinates as the director of the mint
and the assistant treasurer at New
York. , ,,
Mr. mil a.jjpu.iuuA-jMtu v..^,
avowal, but avenged himself In some de
gree by the intimation that the director
of the mint was as competent to speak on
the financial question ns the gentleman
who hailed from the wilds of Colorado.
The joint resolution remains on the vice
president’s table, to be taken up for fur
ther discussion, in connection with a
substitute offered by the new populist
senator from North Carolina, Mr Butler,
to make the interest and principal of a
coin-bearing bond payable in the cheaper
of the two metals.
A joint resolution for acceptance of the
ram Katahdln was reported from the
committee on naval affairs and adopted.
Mr. Burrow's, republican, of Michigan,
presented and had referred to the finance
committee a proposition to taHo certain
articles from the free list and have rates
of duty Imposed upon them. He had
originally proposed It as a bill, but on
being reminded by Mr. Sherman, republi
can, of Ohio, that the senate had no right
to originate a revenue measure, he put
it in the form of an amendment to the
house bill.
Pending the debate on Senator Hill s
joint resolution Mr. Butler, populist, of
North Carolina, offered as a substitute
for that resolution his own proposition
for the payment of treasury not® and
greenbacks in either gold coin or silver
coin—preferentially in the cheaper coin.
He also introduced a constitutional
amendment in favor of an income tax.
Both propositions were laid on the table
for the present.
Mr. Quay offered a resolution calling on
the secretary of the navy for a report
as to whether it is not desiruble at this
time to contract for six battle ships in
stead of for two, and asked for Its adop
tion. “Let it lie over,” Mr. tlorman In
terposed, and It went over.
Mr. Lodge gave notice that he would
on Monday next submit some remarks
on the subject of the Monroe doctrine.
The senate proceeded to the considera
tion of executive business, and at 2:40
adjourned until Monday next.
XII cxpiaiiuufs ***•'* ....p -- 4
resolution Mr. Hill said that under our
existing financial system, for which, can
dor compelled him to say. both of the
principal political parties were largely
responsible, there were outstanding to
day $346,000,000 of legal tender United
States notes which this government is
considered obliged to redeem In gold
whenever presented for redemption, and
whenever redeemed these notes, which
are demand debts of the government,
could not be retired or canceled, but must
be reissued and paid out. As a redemp
tion fund for this purpose the govern
ment was obliged to maintain a gold re
serve, so called, of $100,000,000. That fund
was today, Mr. Hill declared, only about
$68,000,000, and was disappearing by rea
son of the large amount of green
backs being dally presented for
redemption. In a few days this
fund was likely to be less than $50,
000,000. The honor and credit of the gov
ernment required that the fund should be
restored to the full sum of $100,000,000.
"How is the government with reason
able dispatch to procure the necessary
gold?” he asked. "Every avenue for se
curing it is blocked, except the one meth
od of borrowing it. The revenues of the
government are not paid in gold, and
while the government Itself must pay in
gold it cannot compel, under existing
laws, its revenues to be paid in that coin,
and it has, therefore, but one practical
resource left, and that is to borrow the
gold upon the best terms possible. It
cannot refuse to redeem the greenbacks
whenever presented. It cannot regulate
their presentment. The law requires it
to pay, redeem and then reissue them.
Any other course is repudiation, any
thing less is national dishonor.”
The question which now confronts the
country—the practical question, the con
dition,not the theory—is, Mr. Hill said,the
manner in which the gold reserve fund
should be restored. Its prompt restora
ti'jn i§ the duty of the hour. It cannot
safely be postponed. It is the duty of the
coming week, not of two weeks hence.
As gold must be borrowed, and borrowed
at 6hee, it follows that the government
jshould b? per'mitFeJ 16 make the best
terms possible for the people. If it were
unhampered and unrestricted, If it could
borrow the sum as an individual, the
task would be materially lessened, but It
is restricted by laws passed years ago,
which must be observed and respected.
,The law which especially controlled and
regulated the method of borrowing gold
to supply the gold reserve was the re
demption act of 1875. That statute,
taken in connection with the act of July 1
14, 1870, regulated and prescribed what
bonds may be Issued for such purposes.
"I know,” he said, "that It has been
claimed that this statute furnishes no
authority for practical redemption, but
that contention does not seem to be very
seriously Insisted upon. The power is
alleged to exist, and has been repeatedly
exercised. No court has decided against
its existence, nor is likely to. The sec
retary of the treasury will continue to
exercise the power and may safely do
so. It is the only feasible method left by
yrhich to protect the credit of the treas
ury.
“There is no authority to issue gold
bonds, even though a less rate of interest
might be secured thereby. The provis
ions of the statute hamper, restrict and
embarrass the government so far as the
securing of favorable terms is concerned.
Unless this statute should be modified
whatever bonds are now to be issued
must be issued thereunder. There is no
other alternative. While the existence of
this old statute is the sole reliance and
protection of the government at this time,
my criticism of it is that its provisions
are not sufficiently elastic, not broad or
liberal enough to fully and adequately
meet the present emergency. More dis
cretion should be vested in the secretary
of the treasury; he should be permitted to
issue gold or silver bonds as may be
deemed most expedient; the rates of In
terest should be reduced. The conditions
which existed in 1870 ancTI875 do not now1
exist and are inapplicable to the present
situation.
“Let us be practical. Unless this old
statute shall be changed, unquestionably
bonds must be Issued thereunder within
the next ten days. It matters not that
as a general principle we may be opposed
to the further issuing of government
bonds and to the further increase of the
national debt. The power exists to issue
them—It Is the only authority now pro
vided by which to restore the national
credit—and they will unquestionably be
Issued whether we approve or not—is
sued at a high and unnecessary rate of
internal revenue.”
Mr. Hill said It was a business propo
sition which was presented to us. It
did not involve and neither did it antag
onize any question relating to the free
coinage of silver. That question was
wholly foreign to the proposition sub
mitted. There cvere $846,000,000 of green
backs afloat which were being constantly
presented to the government for pay
ment—for redemption, and the gold must
be forthcoming, or else repudiation wouid
ensue. There was no adequate time to
retire the greenbacks, because the ques
tion of redemption was actually upon us;
bonds must be Issued under the old stat
ute. and the only question involved In It,
is whether by Inact ion (by an obstinate re
fusal he might say) to modify Its provis
ions so as to permit greater discretion to
be exercised and so as to permit the
bonds to draw a less rate of interest, we
should compel the government to pay an
enormous, unnecessary sum of money in
Interest. .. ,
A lasiinff cure, nuwrvn, ^
effected by the retirement and cancella
tion of the entire greenback currency,
thus relieving the government of the
great burden of supplying a paper credit
currency always to be kept at a par with
and to be redeemable in gold.
In conclusion he said:
“Why is it not the part of prudence
and wisdom to create a bonded debt for
the whole amount of these notes and
then cancel and extinguish them? That
sensible course would stop the creation
of any further bonded indebtedness.
Otherwise the process of borrowing and
bonding must continue, to what extent
no one can foretell.” .
Mr. Teller said that he did not desire
to enter Into the discussion of the ques
tion now. Hut he wanted to enter his
protest against the repeated assertion
made by the executive department and
now in the senate that the government
is bankrupt. He made that protest be
cause the securities of the United States
were “gilt-edged” securities in ev<?ry
market of the world, and never had been
discredited by any banker or by anybody
save the executive department under
this administration and by that member
of it who now appeared as its champion
in the senate. Mr. Teller spoke of the
contract under which bonds were issued
last year as "a lasting disgrace, due eith
er to the dishonesty or imbecility of the
administration.”
"We are told,” he said, by the public
press that we are to have another bond
issue and that it will not be as favorable
this time as before, because the govern
ment of the United States is In greater
distress than a year ago. Against all
that I protest.
"I do not Intend,” Mr. Teller contin
ued “to discuss the financial question
now, but I do want to enter my protest
against this degradation of our credit.
There is not a financier in the country
who will not tell you that we can place
our bonds on the market at 3 per cent
and sell all that we want to. I do not
say that it might not be well to amend
existing laws, but I do say that we are
not required to amend existing laws be
cause of our inability to get money on our
securities. At the proper time I will ex
press my views upon the department
from the president down to the tide wait
er who now assumes to speak on the
financial question.” (The bitter and
pointed manner in which this last sen
tence was uttered created a slight sensa
tion and some quiet laughter In the sen
ate chamber.)
iH 1 . Itiu.1 ' - *
marks attributed to officers of the treas
ury. and particularly what the assist
ant treasurer at New York is supposed
to have said about $100,000,000 of Amer
ican securities being likely to be thrown
upon the market. "That was well cal
culated,” Mr. Teller exclaimed In a tone
of sarcasm, “to quiet and maintain the
market, was it not? Mr. President, ev
ery man connected with this administra
tion (whether the secretary of the treas
ury or the director of the mint or the
assistant treasurer at New York, or a
subordinate in the collector’s office) has
been talking for the last month or two
In the papers about the lack of Ameri
can credit. It is right that the American
people should resent these repeated at
tacks upon the national credit by men
whom they have entrusted with power
and offices. If the credit of the govern
ment is in danger It is because of the
Intemperate, uncalled-for utterances of
the executive department. I propose to
take up the question when the time
comes and show that there is not the
slightest reason why any man should
be afraid of American credit. I want
to show that in this country, no matter
what a man has believed In financial
matters, no man, outside of the executive
department, has suggested that our cred
it would not be maintained to the high
est possible degree, and. therefore, there
ought to be no more talk of our lack of
ability to maintain our credit. It Is dis
graceful that anybody should suggest
that there Is not a universal sentiment
In this country to maintain the credit of
the United States to the highest possi
second time, Mr. Hill said
he did not know precisely what the dis
tinguished senator from Colorado meant
(unless he meant to be offensive) by the
remarks that somebody was a “tide
waiter.” He hardly though that the sen
ator would In his calmer moments—
Here Mr. Teller broke in with a com
plete disclaimer.
"In the remark that I made as to a
“tide waiter,” he said, "I had certain
^Continued on Second Page.)
FROM ALABAMA'S CAPITAL
Call Issued for the State Execu
tive Committee.
HERBERT FOR THE SENATE
The Rumor Is Rife and Has Not Been
Denied.
GOVERNOR OATES BUSY WITH CANDIDATES
And Jefferson County’s Solieitorship Va
cancy Will Probably Bo Pilled To
day—A. Prominent Lady’s Purse
Purloined by Unknown Thief.
Montgomery, Ala., Dec. 27.—(Special.)—
The board of directors of the Capital City
Insurance company met this morning
and elected Mr. D. C. Hanson to fill the
vacancy caused by the death recently of
P. Chauncey Smith, the secretary of the
company. Mr. Hanson hus for fnany
years held an important position with the
firm of Lehman. Durr & Co., and occu
pies a very high place in the local busi
ness world.
A Lady Robbed.
Mrs. James Anderson of this city, while '
on route! to Atlanta yesterday to visit the
exposition, was robbed of her purse, con
taining $25. It was purloined on the
train. She has no suspicion as to who the
thief was.
The Committee Called to Meet.
The following call is printed in this
morning's Advertiser:
A meeting of the democratic state ex
ecutive committee is hereby called to
meet in the council chamber of the city
of Montgomery on Tuesday, January 21,
1896, for the transaction of such business
as may come before it.
H. C. TOMPKINS, Chairman.
THOS. H. CLARK, Secretary.
On the 21st, therefore, as stated In the
State Herald this morning, the fun will
commence. The campaign will be on in
earnest.
VU1 ljuuumu' Will DC 1M1UUCU 1UU1U1IUW.
Governor Oates has been kept busy
again today giving ear to the applicants
for the vacancy in the Jefferson solicitor
ship. Representative John W. McQueen
stated his claims today and backed them
with an abundance of recommendations
and petitions. It Is believed now that
the appointment will be made tomorrow.
The following gentlemen frgjn Birming
ham are in the city tonight in the inter
est of the appointment of a solicitor for.
Jefferson county to succeed Mr. Little:
Hons. John W. McQueen, Ross C. Smith,
Rufus N. Rhodes, F. Y. Anderson, John
H. Miller, H. P. Heflin anch Lee C. Brad
ley.
His Work Was Appreciated.
Rev. J. W. Donnelly passed through
.the city today en route to his new charge
at Dotham, Ala. His little congregation
said good by to him with genuine regret.
The ladies of the Fort Deposit Methodist
church presented him as a Christmas
gift a handsome silver water service, and
the gentlemen of the Bolling church gave
him a $60 suit of clothes.
Will Herbert Be a Candidate?
Talk of Secretary Herbert becoming a
candidate for the United States senator
ship Is again heard about here. The re
port still amounts to nothing more than
a rumor, but It has been current for
some time, and nobody haB seen fit to
correct it.
NO RECEIVER FOR THE B. A O.
Directors Deny a Rumor That Was Current
Yesterday.
New York, Dec. 27.—The feature of the
trading at the stock exchange today was
the break in Baltimore and Ohio from
iO'/i to 33, on sales of less than 21,000
shares, on the reiteration of the reports
of a receivership and rumors of an in
tended issue of new stock to take up the
floating debt. It was also stated that the
company had sold, or would sell, Its block
of Western Union stock.
Gen. Louis Fitzgerald, president of the
Mercantile Trust company and one of
the newly elected directors of the com
pany said:
“There is to be no receivership for the
Baltimore and Ohio. There is no occasion
for one. The company has now on hand
the money tp pay the interest on its
bonds and the dividend on the preferred
stock due January 1.
“The attack on Baltimore and Ohio
stock was made by bears on Western
Union stock who wanted to create the
idea that the Baltimore and Ohio would
be obliged to let go Its Western Union.”
William A. Read of Vermilye & Co.,
another director, said: “There is to ibe
no receiver for the Baltimore and Ohio.
The company has not the authority to
issue second preferred stock to take up
its floating debt, as has been reported it
would do.”
COLORED WOMEN’S CONGRESS.
First National Meeting Ever Held Convenes
in Atlanta.
Atlanta, Ga„ Dec. 27.—The first nation
al congress of colored women in the
United States convened with the Cotton
State and International exposition upon
invitation of Commissioner I. Garland
Penn this morning and was called to or
der by Rosetta A Lawson, of Washing
ton, D. C.
The opening address was delivered by
the president, Rosetta Lawson. The ad
dress of welcome was delivered by H. R.
Butler, a well known colored woman of
this city. Representative colored women
from twenty-five states in the union are
in attendance upon the sessions of the
congress. Lucy Thurman of Michigan
was selected as permanent president of
the congress with the wife of Booker T.
Washington and Frances E. W. Harper
as vice-presidents. Rosetta E. Lawson
was selected as secretary, with Mary V.
Cook as assistant secretary.
TWO TRAMPB KILLED.
Caught in a Wreck on the Southern Rail
way.
Atlanta, Dec. 27.—Thomas Gleason, a
tramp, who was stealing a ride, and an
other traihp, unidentified, have died to
day from Injuries received from the
wreck on the Southern yesterday. The
total number of deaths so far is six.
Gleason was from Patterson, N. J. Con
ductor Ginn is probably the only man
who can explain the wreck. He says
that he received orders at Reyton to wait
for an extra rrelght. A freight, did pass
him before ha left Peyton and he sup
posed that it 'was the extra' and pulled
out. meeting the extra train two minutes
later.
The Ways and Means Measure
Elicits Heated Debate.
TWO SESSIONS YESTERDAY
The Discussion Continued Until 10 O’clock
Last Night.
REPUBLICANS SUPPORTING CLEVELAND
But Strong Opposition to the Bill Is Offered
by Leading Democrats, Alabama Rep
resentatives Being Among
the Number.
Washington, Dec. 27.—In accordance
With the decision of the committee on
ways and means, reached last Monday,
Chairman Dingley today reported to the
house the bill to provide for the restora
tion and protection of the gold reserve
by the sale of 3 per cent bonds and to
authorize the Issue of certificates of In
debtedness to meet deficiences in reve
nue. But under the protests of a large
number of republican members the bill
was amended by the committe at a meet
ing held this morning and the pro
gramme calling for a vote on the pass
age of the bill at 5 o’clock today was
changed so as to give six hours addi
tional debate, three tonight and three
tomorrow, the vote to be taken at 3
o'clock Saturday afternoon. The reso
lution from the committee on rules to
• this effect was adopted—195 to 101.
after it had been antagonized by Messrs.
Crisp, Bailey and McMlllin, the republi
cans refraining from discussing It.
The debate on the bond bill was opened
by Mr. Dingley, who advocated Its pass
age in a speech of necessary duration.
He said Its provisions would tend to
strengthen and protect the gold reserve
by making it a fund for the redemption
pf greenbacks only and not a fund to bo
drawn upon for current expenses. The
passage of the bill was also advocated
In the course of the evening by Mr. Uros
venor, republican, of Ohio, as a patriotic
duty, by Mr. Lacey, republican, of Ohio,
and Mr. Johnson, republican, of North
£>akota.
, ii was uposeu uy ivir. i urner, uemcunu,
qf Georgia, who said the administration
wanted all the paper money retired, and
If he had had an oportunlty to do so
would have offered to so amend the bill;
by Mr. PatterBon, democrat, of Tennes
see, who said the duty of congress was to
instore confidence In the currency of the
cpuntry, and by Messrs. Swanson, demo
crat, of Virginia, and Wheeler, demo
crat, of Alabama.
The sensation of the day came at a
l?;tfe hour In the afternoon. V r. Mr,
i*.bnson, republican, of California, voiced
It. an impassioned manner the opposition
to the measure In the ranks of the ma
jority. He said It gave the He to every
republican speech and every republican
platform, and he pleaded with his polit
ical associates to vote against It. He
was cheered hy the democrats and many
republicans as he predicted the defeat of
the first section of the bill and declared
that the only true relief to be found was
In the free and unlimited coinage of
stiver.
Before the debate was entered upon, by
by the unanimous report of the commit
tee on elections, which commended Mr.
McGann for his fairness and justice In
waiving his claim to the seat, Mr. Hugh
Belknap was declared to be entitled to
the seat from the Third Illinois district,
for which Mr. Lawrence E. McGann held
the certificate. Mr. Belknap was sworn
n by the speaker.
At 5 o’clock the house rose and took a
recess until 7 o'lock.
Night Session.
There were not more than a dozen re
publicans in their seats when Speaker
Reed called the house to order at 7
o'clock. Mr. Wheeler, democrat, of Ala
bama, who was entitled to the floor,
having held It when the house arose for
recess, being absent, Mr. Terry, demo
crat, of. Arkansas, was recognized. He
read a speech against the single gold
standard, introduced by a brief reference
to the pending bill. In the course of Mr.
Terry's Bpeech probably another dozen
republicans appeared In their seats.
Along with them wa«<lfr. Wheeler, who
followed the gentleman from Arkansas,
concluding his speech of the afternoon.
Later In the evening the attendance In
creased to almost 100 members. Mr.
Underwood, democrat, of Alabama,
stated his objection to the bill to be In
tho fact that It would result In the retire
ment of greenbacks, despite the declara
tions on the floor and the provision in the
bill apparently to the contrary, notwith
standing.
th? nrai speecn oi me evening in tavor
of the bill was made by Mr. Wellington,
republican, of Maryland. He supported
ths revenue measure of yesterday and
the pending bill because he believed that
the first duty congress owed the people
whs the protection of the credit of the
nation and this these bills provided.
Mr. Wilson, republican, of Idaho, ex
plaining his oppostlon to the bill, said
the gentleman from Maryland (Mr. Well
ington) had given him an exact reason,
that President Cleveland was the father
of the measure.
■Mr- Bowers, republican, of California,
■aid the pending bill was either a flat |
proposition to destroy the greenbacks or
It did not mean anything. Who had ask
ed far It? The president and the bankers
a«d brokers of New York. The people
|of the United States, he said, were op
posed t0 the destruction of the green
Br. Gibson, republican, of Tennessee,
said (he pending measure was proposed
lntregponse to an appeal of the president,
who, (while he was a democrat, was the
president of the United States of America.
The guestton was not a political or a
financial one, but an American one. and
the republican party would support the
president on that-ground. Some of the
republicans, he said, forget that they
are Americans; all the democrats did.
(LhUghter). He would vote Tor the bill
and when he got home he had no doubt
hla constituents would say. "Well done,
good and faithful servant." (Applause).
The remedy for the situation which
would occur to any one from the ordinary
ranks of life, said Mr. Dearmond, demo
crat, of Missouri, was to coin Into stand
ard dollars the silver bullion In the treas
ury, with its 155,000,000 of seigniorage, fol
lowed by the coinage of silver as gold Is
coined.
The debate was continued by Mr.
Northway. republican, of Ohio, In support
of the bill; Mr Tarsney, democrat, of Mis
souri, In opposition; Mr. Henderson, re
publican, of Iowa. In support, and Mr.
ShofroVh. republican, of Colorado,
against U.
At the conclusion of Mr. Shofroth s
speech the opposition to the bill had oc
cupied. three hours and thirty minutes,
and the affirmative two hours and forty
six minutes. Of the three hours' debate
tomorrow, provided in the rule regulating
it, the advocates of the bill have one hour
and fifty-six pninutes to their credit, and
the opponents one hour and four min
utes.
At 10 o’clock the house adjourned until
noofi tomorrow.
EXCITING FIREr
Insurance Companies Suflbr Heavy Losses
at Baltimore.
Baltimore, Dec. 27.—The most exciting
fire that has occurred in this city re
cently began a minute or two past 12
o'clock this morning at the corner of
Charles a.nd Baltimore streets, and be
fore the flames were extinguished $360.
000 had gone up in smoke. Fire was dis
covered in the four-story iron building/
occupied by Oehm & Co., one of the larg.
est clothing houses in the city. Tb-<
flames extended to upper stories of t' ^
mammoth millinery establishment 3
Armstrong. Cator & Co., on Baltin *
street, and their $1,000,000 stock <
threatened with heavy fire and ’/J^ r
loss. The fire, however, was co ed
to the top of the building.
The tire also communicated to other
establishments on South Charles street,
causing many small losses. The losses
are estimated as follows: Oehm & Co.,
$200,000 on stock; the Abell estate, Can
field estate and Murdock estate, owners
of the buildings occupied by Oehm & Co.,
$125,000; Armstrong, Cator & Co., and
other smaller losses, $25,000. The losses
are all covered by insurance. Oehm &
Co. have the contract with the United
States government for the manufacture
of ail letter carriers’ and other uniforms
purchased by the government, and many
school cadet uniforms. The firm em
ploys 200 men.
Flying sparks set fire to the warehouse
of William J. Dickey & Sons at 16 Ligh
street, entailing a loss of $1000. Other
buildings in North Baltimore suffered
to some extent.
COMMERCIAL REPORTS.
Bradstreet and Dun’s Weekly Review of Trade.
The Opening cf Business for '96
Yet Uncertain.
New York, Dec. 27.—xl. G. pun & Co.
will say tomorrow In their weekly re
view' of trade:
Failures for the week have been 322 in
the United States, against 350 last year,
and 40 in Canada, against 41 last year.
The failures of the fourth quarter of the
year 1805, not yet finished, cannot be de
finitely stated, but the aggregate of de
ferred liabilities for the year, while much
smaller than in 1893, will vary
but little from that - of 1894.
The year’s aggregate or com
mercial liabilities will probably be about
$170,000,000, in manufacturing over $73,
000,000, or 10 per cent more than last year,
but in trading about $88,000,000, or 9 per
cent less than last year.
The foreign and financial messages of
the president were followed by violent
reaction In the stock market last Satur
day, with grave fears of monetary
trouble. The sudden panic checked busi
ness In many departments and the in
dustries cannot be expected to show
signs of Improvement until the new year
begins. Orders have for months been jjo
much smaller than they were in the sum
mer, when productioon was expanding
and prices mounting rapidly, that new
causes of uncertainty have the more in
fluence. Bessemer pig has declined 25
cents more at Pittsburg, the bar Iron as
sociation has reduced its price, not yet
to the rate at which steel as well as iron
bars are actually sold, and In most de
partments this industry suffers from the
speculative advance in prices and pro
duction last summer. It is noted that
Bessemer and open hearth steel were of
fered at the same price in bids on 6,000,000
tons which a Pittsburg mill will produce
for appraisers’ stores here. In the great
textile manufactures the usual holiday
dullness is increased by delay of orders,
though there is some accumulation of
goods for the demand expected soon.
Standard brown sheetings and drills are
an eighth lower and cotton goods average
a third of 1 per cent lower.
The shoe and leather business does not
Improve and both leather and manufac
tured goods decline slightly, though spec
ulation is again hoisting hides about 10
per cent for all in two weeks, and for
some kinds 25 per cent.
Cotton has remained at 8*4 cents since
last Saturday, and enormous commercial
and mill stocks here and abroad, with a
demand for goods much smaller than in
September, hinder an advance. The
quantity which haa come Into sight is 30
per cent less than last year to date, but
slightly larger than In 1892, when the
crop was 6,700,000 bales.
Payments through clearing houses
were abnormally swelled by last week’s
panic, so that the average daily for De
cember at all points is 18 per cent more
than in 1894, and 12.2 per cent less than
in 1892. Foreign trade shows a gain of
19*4 per cent In exports from New York
of three weeks of December, which is
decidedly encouraging, and a decrease of
18*4 per cent in imports here.
Bradstreet’s Review.
New York, Dec. 27.—Bradstreeet’s to
morrow will say:
As is the rule in Christmas week,
wholesale trade has been quiet. The hol
idays, the close of the year and stock
taking tend to make business slow, and
promise only a little trade until after
January. The various cities’—notably
New York, Boston, Baltimore and Chica
go—anticipations as to the character
of trade early in the coming year are
hopeful, but it remains to be seen wheth
er the downward movement of demand
and prices and the delay In putting the
currency on a sound basis, all of which
have begun to show themselves In trade
conditions, will permit as early and
marked gains in staple lines of trade In
1896 as has been confidently anticipated.
Business failures in this country for a
completed year number 13,013, an in
crease in number of failures is at the
crease of number of failures are at the
west, northwest and In the middle states,
decreases being shown in New England,
at the south and on the Pacific coast.
The quotations for coke have been ad
vanced, as well as those for mohair,
wheat, Indian corn, oats and for sugar,
while for leather, hides, lumber, coal,
wool, coffee and print cloths quotations
are unchanged. Fractional reactions are
reported in prices of refined petroleum,
cotton, pork, flour, iron and steel.
The week’s features in commercial
lines are a rather better trade In extreme
specialties than expected, smaller busi
ness at the west, from long continued
rains and light stock of goods In hands of
the retailers, and the pronounced move
ment of funds from the west to east,
not only to pay interest, but because of
the better demand for currency at large
financial centers.
8. A. E. Officers Elect:d.
Atlanta, Dec. 27.—The Joint session of
the Gamma and Epsilon provinces of the
S. A E elected officers today. George
Garrison of Atlanta was elected Dresi
dent of the Gamma province and C. H.
Bryant of NashvJIle was elected presi
dent of the Epsilon province.
A WILD RUSH_ TD DEATH
Twenty-three People Killed in a
Baltimore Theater.
CRY OF FIRE THE CAUSE
A '^tley Throng Goes Raving Mad With
^ Excitement.
V __
p HASTLV IS THE SPECTACLE PRESENTED
r .
9
The Audience Was Composed Principally
of Jews, Who Gathered to Witness
the Jewish Opera, “Alexan
der”—last oi the Dead.
Baltimore, Md., Dec. 27.—Twenty
three persons were crushed and trampled
to death In a panic at Front Street thea
ter tonight. Several others were Injured,
some of whom It is believed will die.
The United Oriental Opera and Drar
matic company of Boston, under the
management of A. Schongold and Abram
Tanseman, was billed to present the Jew
ish opera ‘‘Alexander,’’ and the theater
was filled with a motley throng. About
2500 persons were In the house when the
orchestra began playing the introduc
tory.
A strong odor of gas was noticed in
the second gallery of the theater, and one
of the attaches of the place was seen
hunting for the leak with a lighted torch.
Suddenly a Jet of flame flashed out as the
torch came In contact with the punctured
gas pipe.
Cries of "Are” were heard In the upper
galleries, and In an instant the excite
ment became intense. Some one rushed
to the gas meter and turned off the sup
ply, piunging the main body of the house
into darkness. The stage jets alone re
mained lighted, being fed through an
other meter.
instead of allaying the excitement
caused by the sheet of flames
from the leaking pipe, the turn
ing oft of the gas and con
sequent darkness only served to add to
the confusion. The audience rose en
masse and made a mad rush for the ex
its. The actors rail down to the foot
lights and shouted: “Sit down, there's
no danger;” but the excited throng paid
no heed to the advice, but continued their
wild scramble for the doors.
The gas was quickly turned on at the
meter, and as the theater again became
Illuminated an Indescribable scene of
horror was presented. Men, women and
children, crazed by fear, were fighting
and struggling in the aisles and on the
stairways in their efforts to reach thi
open air.
The actors on the stage and a few coot)
headed auditors added to the turmoil by,
shouting their oommands to “sit down’’
and cursing those Who were most vigor
ous in, their efforts to get out.
The struggling mass of humanity made
little or no headway for a few minutes,
as every aisle was congested and every
door was Jammed with frantic Poles and
Russian Jews, who mainly comprised
the gathering. Strong men In the rear
of the panic-stricken mob climbed upon
the shoulders of those In front, crushing
the weaker men, women and little chil
dren to the floor to be trampled to death
by those still further in the rear.
For several minutes the wild fight con
tinued. Then a few policemen forced a
passage way to the main entrance and
began dragging forth those who were
jammed In the doors. A rushing stream
of humanity flowed out on Front street
until all those who were able to move
reached the open air. A hurried call for
a policeman brought a large squad to
the theater by this time, and a fire alarm/
had also been sent In, bringing some en
gines on the scene.
The excitement In the street was al
most as bad as in the theater, as rela
tives began searching for those from
whom they had become separated dur
ing the mad rush. Fathers and mother*
rushed about looking for their children
and attempted to re-enter the theater In
their search for missing ones.
The crowd grew so great that the po
lice, fearing a riot, ordered the fire en*.
glne hose to be turned on, and In that
way the struggling mass was driven
back from the theater entrance.
Meanwhile officers entered the theater
end encountered a sickening sight. In
every direction were found bodies from
which the life had been crushed ancl
trampled. A majority of the victim*
were young men, girls and children.
They were tenderly carried to the front
of the house and taken to the city hos
pital and the morgue as fast as the am
bulances and patrol wagons could mak*
the trips.
Great crowds followed the ambulance*
and patrol wagons and stormed the en
trances to the hospital and morgue li*
their anxiety to learn If their relative*
or friends were among the Injured or
dead.
Twenty-three dead bodies were Anally)
taken from the theater. Ten persons,
more or less Injured, are at the city hos
pital. Two of them may die. Several
others were taken to their homes in car
riages, suffering from contusions or
broken bones. The death list will prob
ably exceed twenty-Ave.
At a late hour tonight there had beeiv
but fourteen of the dead IdentlAed. They,
are:
Miss Jennie Hinkle, 21 years old. wh<*
was In the orchestra with her brother-in
law, sister and two children. Thew
reached the door In their attempt to es
cape. Miss Hinkle suddenly release*
her hold on her brother-in-law’s arm an*
sank under the feet of the throng. Sh©
was trampled to death.
Louis Cohen, a 10-year-old boy.
Jacob Rosenthal, a tailor about 2S
years old.
- WolfT, a tailor.
Theresa Goldstein, 7 years old and he*
little 4-year-old brother.
Sarah Rosen. 15 years old.
Ida Sllberman, 14 years old.
Ida Friedman, 14 years old.
Sarah Siegel. IS years old.
- Levensteln, 40 years ^>ld.
-Salesburg, 12-year-old T>oy.
Lena Lewis, aged 22.
Amask Jlssel, 43 years old.
Wanted Babies Bad.
Atlanta, Dec. 27.—Two baby lions wer®
stolen by a negro today from the Hagen*
beck show on the Midway. The cub*
were in a basket and the thief thought
they were a fancy kind of dog. When hel
found out what they were he was gla*
to drop them. He was arrested.
Paper Mill Burned.
Vincennes, Ind., Dec. 27.—The plant of
the Vincennes paper mill, owned by 8hep~
ard Bros., was totally destroyed by Ar*
this morning. Loss $40,000, insuranc*
$20,000.