Daily Ohio State journal (Columbus, Ohio : 1870), 1873-09-22

              5ffl te i! X SAY VOL. XXXIV: COhVMtil$$,tiW UAY; SEPTEMBEit 22, 1 873. J I t V r J - "TO. VII II 11 w I II 11 li II n il . jr 11 v il li ii - 1 l 1 1 r rui l II . II II , II II VI - II m II II II ll.li U V II VVWlLAV i II 'H m. X 11 U ylXvA.X.1 1 '""- jsaw -vo- 4lHcet Hlfh, Pearl sun Chapel Sts. ,i. h, ooair. v.i . a. smith, . a. w. raiscuco. Pl'BMBnSS AND FSOPaiETOSS. . .TAMRS M. COMLY,-. . Editor, OFFICIAL PAPER OF THE CITY .THE CELEBRATED ii CENTURY." nimble and important', improt amenta Becureu dt letters parent, possessed by do other store. Wrought Iron Oven, Tile Fire Back (Everlasting), Indestructible Centcrg, Only one Fine, Flame-Encircled Ov n Splendid Feed Door, Low Down Reservoir, Large Cast Iron Asta Pan, If you want to avoid a smoky kitchen and dingy walls; If you want to avoid replenisb-' ing hie backs every few months; if you want to avoid warpeu up lop piat.es lr you want to avoid all the trying things connected with a poor cooking stove, call and see the CENTURY. For heating water for Path Rooms, the Water Back of the Century is unequalled. Gall and examine, at ASTON, TAYLOR & HUFFS, SO NORTH HIGH STRUCT, sopl03m COLUMBOS, O. Hubbard & Jones havo Harper's Weekly for September 27. The Statesman is like a whited sepulchre all fair without, but Chicago inside.We would like to ask a plain question or two : Does not the record of the Government Bervice compare very favorably with that of private business, in the matter of defalcations, embezzlements,breacheB of trust, swindling, and general dishonesty? Can it be justly expected that the Government shall beable to secure greater immunity from loss by unfaithful servants, than shrewdly managed railways, banks, trust companies, insurance companies, municipal corporations, or private business houses? In connection with the latest particulars of the great money panic, we give this morning the Bank Statement of Inet week's business in Wall street, which presents some startling figures. It will also be seen that President Grant in consultation yesterday positively declined to place any part of the $44,000,000 legal tender reserve in New York banks, holding such an act to be a violation of the Constitution. The Assistant Treasurer at New York, however, waB instructed to purchase all the bonds offered at reasonable rates. The savings banks are supposed to hold a great many bonds, and it is believed they will sell to-day and place the proceeds in National banks, which will probably avert further disaster. Taxation in Ohio is light compared with that in the Democratic State of New York, for example, and four-fifths of all the taxes collected in Ohio are levied by local authorities for local purposes. It is a further interesting fact that in Democratic counties the local levies appear to be unusually large. For instance, in Democratic Butler, the levy for county purposes is eleven-tenths of a mill, while it is only six-tenths in Republican Warren. In Democratic Darke the levy is aixteen-tenths, and only seven-tenths in Republican Preble. In connection with these significant contrasts it Bhould be remembered that the local and not the State authorities are responsible for the amount of local levies. It should also be borne in mind that whenever a special law is passed authorizing a local tax, it is always done at the request of the Representative chosen by the dominant party of the county wherein the tax is to be laid. Most local levies, however, are not specially authorized, but made under general laws, and their amounts are fixed bv the local authorities. The Ynnngcul Met uok and Hla Father at Bull Ban. Cleveland Plain Dealer.) General Alexander McDowell McCook, another of the "fighting" lamily, commanded the first Ohio regiment during the first three months' campaign, and led them at the first battle of Bull Run. The Cleveland Grays belonged to his regiment, McCook's young brother the youngest of the family was a private in the Second Ohio, Colonel Parrot. He was a mere lad, and was killed towards the end of the battle by a rebel dragoon, one of the Black Horse Cavalry, we believe. His father was present on the field, bustling about in his shirt sleeves, as often under fire as otherwise, and doing what he could to help care for the wounded. When his dot received hi death wound the old man was near, and he brought the remains off the field strapped to the seat of an ambulance cart which the father himself drove. The head of this family was himself subsequently killed in battle. The Plain Dealer ia'mis taken in laying the Second Ohio Regiment was commanded by Colonel Parrot at Bull Run. The commander waa Lieutenant Colonel Mason. Eds. Ohio State Journal. The steamship Wyoming, from Liverpool for New York, ran on the reef of Sable Island off Nova Scotia, and was con- her destination. After the vessel struck the lifeboat was lowered. In it were placed the third officer and firs seamen, snd they put off to take soundings, since which they nave not neen seen. "Nobody to blame" is the too frequent verdict on such slaughters as that which occurred os the Ironiidn the other day. Yes, but which "nobody" was it?. Bvffiik Eiprttt. THE CASTAWAYS. Story- of the Buddington Party. The Separation from Tyson The Aabndenment of the Polaris Win. terlnsj at Littleton Islaad-Pnttlnc to Sea In the Boats The Besene. By Telegraph to Saturday's Tribune. Dundee, Scotland, Sept. 19. The whaling steamer Arctic, Cant. Adams, has arrived at this port Irom tiavls straits, having on board the following men of the Polaris expedition, who were picked up by the whaler Ravenscraigon the 20th of imy, viz; . ,r-r ' Capt. S. O. Buddington, sailing master; Dr. Emll Bessel, chief of the scientific corps; Hubbard C. Chester, first mate; .William Morton, second mate; mil Schuman. chief engineer: A. A. Odell, sistant engineer; VV. F. Campbell, tire-man; Nathan J. Coffin, carpenter; Herman Siemons; Henry Hobby; Noah Haves. ,. itie men ore well and show no marks ofeuaeiatioa such as might have bees expected alter their terrible experiences. the tollowlng narrative ot the incidents that occurred alter the separation of the crew is gathered Irom, conversation with several of the party. The Polaris had been leaking badly before the 15th of October, 1872. and her situation ultimately became so alarming that it was deemed advisable to make preparations to abandon her. The deter mination to leave tne ship was arrived at on the 15th of October, at which time they were in lat. 79s. Some of the crew remained aboard, while others landed on the ice, and they began to get out stores. with the intention of taking everything thev could lor a long soiourn in those frozen regions. Between 10 and 12 o'clock at night, while this work was proceeding, a very severe gale sprang up. and the snow began to fall heavily, with strong nut variaDie winds, operations, However, were continued, and alter untiring efforts the boats were got upon the ice and a large supply of provisions taken out, (Suddenly the hawsers by which the ship was made fast gave way one snapping, the other tearing its anchor from its lodgment in the ice. This was about midnight. The anchor in starting tore off a large piece from the floe with three men upon it, and as the Polaris drove past them, they cried out in an agony of terror, "What are we to do?" Captain Buddington Bhouted back that he could do nothing for them; they had boats and provisions, and must shift for themselves as best they could. "Note. These three men, Sergeant Myer and two others, were saved with the Tyson party. Ed. A few minutes later those on the Polaris saw a boat launched and manned by the three men making for the place where their comrades were stationed. In a short time the storm and darkness shut out every object from their view. The feelings of the men can be imagined as, with half the crew le't to perish, as they supposed, in the desert of ice and snow, the ship drifted away helpless, until at last she brought up at Life Boat Cove, The prospect waa now gloomy enough. There seemed to be little prospect of their remaining in the Polaris; she still leaked fearfully; and in her damaged condition Buddington had no hope of getting any furthersouth with her. It was therefore determined to beach her, but the question was now that could De done, ine wind being favorable an opening in the pack was finally discovered and the shin was bored through under canvas. Everything apparently favored the work, but though the ship was only a few miles from shore it took twelve hours to get her closo in. The next consideration was how to provide for the shelter of the men on Bhore. All the timber from between deckB were torn out. Provisions were deposited on the ice. The coal was removed. Every thing useful was secured. The walls of a house were then built of heavy planks, to exclude the wind, and the roof was made of sails. In such a home the long winter was passed. Some help was re ceived from three Esquimaux, who discovered the wrecked ship and agreed, for a few paltry presents, to convey provisions over the ice from the vessel. They gave still more valuable aid by supplying skins for clothing, of which the crew were greatly in need, for many of their clothes were worn out, ana many more were lost when the vessel broke away on the night of the 15th. The Esquimaux had plenty, and, though they were filthy-smelling garments, the castaways gladly adopted the full Esquimaux costume of fur trousers, coats, hats and boots. Through tne long, dreary winter tne men kept up their spirits remarkably well. The snow fell heavily, but it serfed to protect their frail habitation and make it more comfortable. Their arrangements were so complete that no visit to the ship was necessary before January 27, when they went for a supply of wood. Fresh water was obtained in abundance by collecting pieces of icebergs and melting them. Toward the end of winter Chester suggested that some means should be agreed upon to extricate the party from their perilous position. The provisions were gradually diminishing, and the fuel, of which only six tons had been obtained from the ship, was nearly exhausted. The Polaris was still available for materials, and it was now proposed to build two boats. A survey by Chester showed that the lining of the cabin could be used, and this was accordingly stripped off. A new difficulty then arose. The planking was all pierced with nails, and how should the boat be made watertight? The crew all say that Chester showed himself equal to all emergencies. With the carpenter's help he put the planks together in so deft a manner that the difficulties which had seemed insurmountable vanished. During the Spring months, with the thermometer twentythree degrees below zero, and often in a blinding drift, the building of the boats went on. The situation grew daily more discouraging, but the work never relaxed, and the courage oi the men never failed. Advancing steadily the crew were ready to depart by the end of June, determined to push south ward, just at this moment, when everything wsa in readiness, they were alarmed by the appearance of scurvy. Happily, however, tne attack proved slight, and a plentiful supply of walrus liver, which they obtained from the Esquimaux, enabled them to avert the disease. When the boats were launched they leaked a good deal, but the men determined to trust them, and, stowing aboard all their remaining provisions and ammunition, they said fairwell to Life Boat Cove. If not perfectly tight, the boats proved themselves excellent sailers, snd remarkably easy to row, and on the first day the Tovagers reached Sontag Bay. After remaining there a short time to regain their strength, the party made for Hakluvt Island, where the expedition was brought to a stand-still by a tremendous gale which blew for three full days, with a continuous fall of snow for all that time. Immense flocks of tnks, a bird of the penguin species, were encountered here, however, and, as the men con Id easi ly take no their gone and kill ten of them at a shot, there was a plentiful sup ply ot Iresh provisions, which were very thankfully received. Occasionally their tiny crafts were sadly beset, and it was feared they would come to grief. But they were among the ice, and there was nothing to be done' but to force a pas sage soutnwara at ui uasaras. Alter enduring many privations,' and enoountering perils from which their escape seemed al most miraculous, they succeeded ot last, through great exertions, in reaching Cape Parry. A few miles below the Cape, at Fitz Clarence Rock, an encampment was made. Every night, when the labors of tne day were over, the boats were hauled up upon the floe, and everything taken out, and the only hot meal of the day was prepared, rue apparatus employed in cooking was of the most primitive character. Each boat carried a quantity of rig ging from the Polaris, and a can of oil. With these a fire was made in the bottom of an old iron .bucket. Tea was the only thing . that . could be made with such an apparatus. They state that tne privations they Buttered were not seri ous, ine lite was rough, laborious, and monotonous; but though dangers occasionally presented themselves well calculated to inspire the greatest fear, no seri ous accident occurred, and on the 21st of June tne boats reached (Jape lark In safety. Here they were again close beset with ice. On the 23d their troubles came to an end. A whaler was descried a few miles off. and the whole nartv was at once in a turmoil of excitement. A great fear seemed to take possession of them all at once that the ship might get away before uiey could mane themselves seen, and they put forth every effort to push throneh the ice with the least possible delav. The vessel proved to be the Ravenscraig of uunaee. ni. Allan, one soon saw their signals, and Capt. Allan Bent his crew to their assistance and took on board their effects, and one of their boats, the other uemg leit oenind. uapt. Allan treated them, they ail say, in the kindest and most generouB manner. Subseauentlv. in order that the whaling operations might not be interrupted, Allan shipped some of tne roiaris crew on the Arctic. The latter vessel completed her season's work earlier than had been expected, and know ing that the crew of the Polaris were anxious to return home, Capt. AdamB searched lor the Kavenscraig, and took on board the members of the party who had been left with her, except three, who had previously been transferred to the Intrepid. These three were R. W. D. Bryan, astronomer and chaplain ; J. B. Mauch, seaman ; John W. Booth, fireman. The Intrepid is expected home in a few weeks. I he rescued sailors say that when they were picked up they had bread enough forone month, but it is the general opinion among them that they would not have succeeded in reaching any settlement. Chester, however, who is spoken of in the highest terms of praise by every one of his companions, has no doubt whatever that that they would nave got southward with out any assistance. Capt. Hall was regarded as peculiarly adapted for the great enterprise under his charge, and all lament bis untimely end. As to the statement that the ship might have aided the party on the ice, all agree that it was impossible after the Polaris broke adrift to learn even the wherea bouts ot those left behind. Every effort was made to find them, but to no avail. JAY COOKE & CO. History of I lie Firm Fonndnllon of lie Different llonses. Washington Utpublienn. The firm of Jay Cooke & Co. consists of Jay Ciooke, Henry I). Uooke, W. (i. Moore- head, II. U. t ahnestock, Pitt Cooke and 11. Uariand. There are four banking houses under the control of the firm the present bank, which was established at Philadelphia in 1858 by Jay Cooke and W. G. Moorehead; the Washington branch, which was founded in 1882; the New York branch, organized in 1866, and the London house, established in 1871, under the immediate supervision ot lion. Hugh McUuiloch,lor-merly Secretary of the Treasury, and Col. J. H. Puleston. Pitt, Jay and Henry D. Cooke are the sons of the late Hon. Eleutheros Cooke, who represented the Sandusky or Huron district in the House of Represcatatives in 1833-34. Pitt Cooke, the eldest brother, was en gaged in commercial business in Sandusky, and subsequently was connected with the Philadelphia banking house, as agent for the location of land warrants in the West, in which the firm were large dealers. He afterward became connected with the New York house, of which he is still a member. Jay Cooke, the senior partner of the firm, left Sandusky in 1840, when about eighteen years of age, and entered as a clerk in the broker's office of E. W. Clark & Co., of Philadelphia, of which he after ward became a member, and retired therefrom with a capital of about $250, 00, then considered quite a large fortune. Henrv D. Cooke was educated at the college in Meadville, Pa., and in 1845 went with his brother-in-law, W. G. Moorehead, who was appointed Consul to Valparaiso, Chili, speculating largely in flour for the Han Francisco market in 1849. and subsequent years. While in San Francisco, and largely engaged in business, he was a heavy depositor with Palmer, c;ook (V lx., Dan Hers, and lost an his accumulated wealth by their failure. In 1853 he edited and published the San dusky Register, and in 1858 ho went to Columbus and purchased a controlling interest in the Ohio State JounNAi., conducting both papers with marked ability until the election of Mr. Chase to the Senate of the United States. In 1861 came to Washington with Mr. Chase, and when that distinguished statesman was appointed cfecretary of the Treasury he designated the firm of Jay Cooke & Co. to place the seven-thirty bonds a patriotic task which was successfully fulfilled by Henry D. Cooke, as agent of the firm, which was largely instrumental in maintaining the credit of the country in its darkest ami most trying davs. Probnblvno banking firm in the United States was better known or more confided in, both at home and abroad, than Jay Cooke & Co. Their credit, their honor and integrity were never impaired or impeached; and hence the present suspension, althoueh it is honed and believed to be only temporary, will startle the whole country and bll all hearts with regret. CINCINNATI Texas Editors Exposition Holiday, CiNCisNATt, Sept. 21. The Texas Edi torial excursion left here for Louisville this afternoon. The indications arc that except retail stores, all business houses will be gener ally closed to-morrow lor ine exposition Holidav. in response to the proclamation of the Mayor. All public offices of the United Suites, county and city, will be closed for the day except the general delivery of the postoffice, which Keeps Sun day nours. In Mexico, General Escobedo was sent to Zacatecas to relievo General Rocha. The latter declared asrsinst the Govern, ment, and took Escobedo prisoner upon his arrival. BY TELEGRAPH ao tub owQ.yrjLn jot&sAL FoiiKXv,Y:'' b. nissps' iqcoti pp Mb rijATft of ""rT;' CAPTi;ALLJ ' yV1"'1 LorooN.Ssnt, Soothe following is a portion of an interview between a Herald correspondent and Dr. Bjssels, of the Polaris, at Dundee : i I. ...ii.ii. -.a : Dr. Bissels Since arriving ' here, we find from American fadners.' thai, several very silly and absurd rumors: of - a mischievous tendency have been dbtoad. It is just possible that the Government at Washington prefers that'we reserve what we have to say for graver discussion, but I must emphatically contradict the state ment mat uapt. nan died other than a natural death. He died of apoplexy. He was ill about a fortnight. ' He BDneared to be in perfect health when entering up on the voyage. I noticed nothing unusual in his health up to the period of his illness. The rumor that be was poison rumor may have been founded upon the nauucinauons or the raviner natient. Schuman, tne engineer, says that Hall was in continual annrehension of bains' shot, but was not aware that any one member of the crew more than another excited his suspicions. Another phase of ins mania was a determination not to eat anything unless it was first tasted by some person, ine las ung was mainly done by the Esquimaux woman. When he rallied and for a while recovered his wonted intellect, he would say to Captain Buddington : "If I die you must still go on to the North Pole. Don't let my death be a Hindrance to tne accomplishment of this great undertaking." THE rOI,AllIS VOYAGE. At the session of the British Associa tion, at Bradford yesterday, Capt. Mark ham, of the British Navy, who was on board the Arctic when she received the men who were rescued from the Polaris, gave a detailed account of the voyage, which he gathered from members of the expedition. He Baid the Polaris occu pied only hve days in making the distance from Cape Shakeleton northward to lat. 82 til'. This was the nearest point to the north pole ever reached bv civil ized man. The ice was soft all the way and a stronger vessel could have ob tained a much higher latitude. SPAIN. PHOROfi ATION OP THE CORTES ENGLISH ABUSE OP POWER RECALL. Madrid, Sent. 21. Tho Cortes was in session all Saturday night, debating Se- nor Aiarayaxa s motion that the recess begins to-day. The House hag not ad journed. Immediately after prorogation, the Government will proclaim Spain in siege. Ihe .bpoca complains bitterly of the detention of the insurgent iron-clads by the British, and declares England is abusing her power in not delivering them to the Madrid Government. It is rumored the Cabinet have deter mined to recall General Preltain. Captain General of Cuba. RELEASE OF CAPTURED BRITISHERS. London, Sept. 21. Mr. Stewart, and a portion of the crew of the yacht Deer- hound, captured by a Spanish cruiser after landing a cargo of arms for the Car-lists, have been released and have been placed in charge of the British Consul at Ferrnl. IRELAND. COERCION ACT SUSPENDED. Dublin, Sept. 21 The operation of the coercion act has been suspended in Sligo, Koscommon and lipperary, FRANCE. DEATH OP DIl. NELATON. Paris, Sept. 21. Dr. August Nelaton had a relapse Saturday, and sinking rapidly died nt a lato hour last night. YELLOW FEVER. Sixteen Interments nt Shrevcnort Sundnj. Shreveport, La., Sept. 21. There is no change. . The following is a list of the ntcrments to-day : Mrs. B. Sawabock, age 34 ; Miss Alice Swan, 34 ; Sol. Acker, 25 ; Miss R. Young, 14: K. Bell. 63; L. f oreman, SKi; U. T. Collins, 38 ; Henry Allen, 32 ; B. Clark, female, 20 ; Uh. Shukler, 43 ; B. Ueloe, W; Mary Ann Uothiem, 1 month ; Airs. Aes- bie, not given ; Jno. Young, 66 ; two unknown.More Aid Sent to Shreveport The Fever Bavns;cs Unabated. New Orleans, Sept. 21. In response to a telegram from the medical faculty of Shreveport, the Howard Association today despatched three physicians to that city, each of whom has had many years' experience in the treatment of fevers in Louisiana. Hopes are entertained that they may be successful in checking the ravages of the epidemic. JNews lrom shreveport to-day by pri vate dispatches are very discouraging. The disease continues spreading, and the percentage of deaths is so great as to cause most paintui apprehensions. Eight Deaths In Memphis Yesterday. Memphis, Sept. 21. Only eight deaths from vellow fever and four new rases were reported by the Howard Association. The disease is fully under control and confidence is restored. WASHINGTON. TROVIDINO FOR THE INDIANS, Washington. Sept. 21. Felix R. Bru- not, Special Commissioner, has concluded . - - -1 ..i. .1 T-. r ,1 1 -f uuuncil Wliu (lie uiw, MH reauih ui hich was the ceding to the Government by the Indians of some three million acres, being west of the land lying between the 37th and 38th degrees uf latitude and HMD and lOUth degrees of longitude, ex cept a narrow strip on the southern side on which many of thelites had farms. It is proposed to gather on this the w er-nirds, Muache and Capote Utesand a portion of the Jaoarilla Apaches, now at the Treves, Acraiellia and Cimmsron sgencies, in New Mexico. This arrange ment disposes of the two troublesome sub-agencies and gathers these wandering bands of LTtes upon a reservation. The price for the land, which is mostly min eral, is to be given for the support of a new agency ana lor those Indians lor which there has been heretofore no regti' lar provision by the Government. FAYINO DIVIDES US. The Comptroller of the Currency is paying dividends of 2o per cent, to oredi tors of the First National bank. Rock, ford, Illinois, 100 percent, to creditors of the rirst national bank, t on SnelLArk., and 35 per cent to the creditors of the National bank of Yicksburg, The Comptroller of the Currency has directed the collection of the papers of the r irst Ka. tionsl bank of Washington, to be depos ited for collection with the National Metropolitan bank, and correspondents are requested to correspond with the latter in reierence thereto, thus facilitating bnai. ness of the Receiver. toL STREET PANICS. IVIh letter Particular of the Fl- ' nanclal Crafth. ; ... rt-r ii. Us of Matarday'a Fallnres-Tbs ' Failure of Ihe Futon Trust, Com. , naujr Develop? I,arr Iihlu- Hon The Worried Men In (touanl- satlon EtTeet of tne Paulo Upon Olhar Cities President Orant Be- fuses to I'as the Lenal Tender Be serve T and The Assistant Treas-,;nrsr Instructed, to - Buy All the , Bauds Offered mt Fair Bates The i Crials Probably Averted. , ' la Nenr York. SATURDAY'S FAILURES. New YonK. SeDt. 20. The Union Trust Company suspended nt half past ten. Edward Haiglit & Co. have been an- SK) n need as suspended. , The National Bank of the Common Wealth have suspended. - (axe tit Kogers have suspended. E, C. Broadhcad waB the right name of the broker that failed, not E. C. Moore head; and the proper nameot bite is given now as U. G. White. Brown, Wadsworth & Co. have failed; also Toussig & Fisher, P. M. Myers, Miller & Walsh, Laurens Josephs, Fearing & Dellinger, Williams & Bonstwick, Ketch nm & Belknap, E. C. liroadhead, and C. U. White & Co. The leading foreign exchange firms. such as Brown Brothers, August Bel mont, Henry Clews & Co., and Morgan, Drexcl & Co., do not give any sign of feeling the pressure of the past three days' crash. The Bank of North America has not suspended, DEFALCATION. The defalcation in the Union Trust company is said to be $500,000, and Sec. retary Charles T. Carleton is reported tho defaulter. It is nlso said he has not been seen since yesterdny afternoon. The affairs of the Union Trsst company are worse than most people will be prepared to hear. The amount of Carleton's defalcation is larger than at first supposed. It is snid it will exceed $500,000. The Directors this afternoon considered the question of appointing n receiver. Carleton lins been traced to two or three different hotels in town and over to Jer sey City, from whence he took a train on the JNew Jersey Central railway last evening. The Directors have made no effort to secure him. The efforts made to trace his whereabouts have been made by pri vate individuals. The Commercial snys it was not known that Carleton, the Secretary of the LTnion Trust company, was a defaulter until some time yesterday afternoon, when his absence began to give rise to suspicions. He remained at hisdesk until 12 o'clock yesterday, conversing freely, but exhibit ing signs ui e&ciiemeiib uuu irepiuuuon. He left the Trust company, saying he was too unwell to remain, and desired some rest. When it was necessary to consult him in regard to certain matters he was not to be found, and then it was that the Trustees began to suspect he was a defaulter.Under a hurried examination into his affairs it soon became quite certain that he had been nsing the securities of the company lor his own personal purposes. He had made loans to relatives and friends on securities which were regarded as very doubtful; one a loan of twenty thousand dollars to his father, Rev. Dr. Carleton, of Methodist Book Concern notoriety. The security for this one loan, it is understood, is good, but there are others that are of no great value. He had his favorites among the brokers, and loaned large amounts to them on securities that it will be difficult to realize on; and this fact, it is supposed, led the Irus-tees to close their doors this morning, and secure time to make a thorough examination into the assets and securities of the company. It is well knowii that Mr. Carleton has had almost the entire management of this great financial institution, and has been absent in Europe since the early spring. Mr. Carleton was regarded us a thoroughly honest andexeinplnryyoungman. He has been Decretory ol tho I nion Trust company since 18(19, and the concern has grown to be an immense financial institution under his Secretaryship. The company, it is understood, hold large blocks of Lake Shore securities, and unless Commodore Yandcrbilt steps in and gives relief, there is very little hope that the Union Trust company will open for business on Monday. CLEARING HOUSE CERTIFICATES. Shortly before noon, in the midst of the panic, the Uoverning committee ot the Stock Exchange determined to close the Exchange. Immediately afterward n committee of the associated banks met at th New lork Clearing House, and it was voted by nil the associated banks that they would issue certiticates pledging the association as a whole, these certificates to be issued by the manager of the Clearing House to any associated bank, against the deposit of the bank's securities or assets. The effect of this action is to enable all solvent concerns in the financial commu nity to convert their assets into money temporarily and without sacrifice to them selves. The Stock Exchange ordinarily is simply a medium for converting securities into cash. In the prevailing panic the scarcity of money prevented this from being accomplished, securities being offer ed for sale nt constantly decreasing prices without finding buyers, unless to the enormous loss of sellers. By the issue of the bank certificates any bank can realize money upon its assets, and will be thus able to extend to its customers all the accommodation for which they can find security without compelling the sale or sac- mice oi the assets onered. ine wnoie machinery, therefore, of conversion is once more set in operation, and is likely to run smoothly, and all concerns wnicli have assets will find no difficulty in converting them into money. This action of the banks at the Clear ing House meeting gave rise to a feeling of confidence on the street that no addi tional failures are likely to occur, and the imptession ontamed that the panic was over. MISCELLANEOUS, The President arrived at the Fifth Av enue Hotel this evening from Long Branch, and immediately telegraphed Secretary Richardson to meet him in New York. The President expresses a lull determination to use the entire pow er of the Treasury to the extent of S10. 000,000 balance and $44,000,000 reserve. 1 here is a general feeling of confidence lo-nigni mat tne worst is over, The run on the First National Bank of Iloboken was confined throughout the .1 . ..jeiq?fuui.. J a u, uu f itfijuw was wi aw ii uu i. The suspension of Fisk & Hatch is said to make probable the embarrassment of the Hoboken Bank for Savings. A de falcation of nearly 70.000 was discovered in that bank lately, and the Directors disposed of some securities to make np the deficiency, depositing with Fitch , T i.l. 1 t - 1 . AAA .t .1 mitii, iw mie-seepuig, wi,uw m ivs amount realized. The suspension of the nrm mases mis unavailable at present. The managers of the Hoboken Bank for Savings assert that the bank is entirely solvent, notwithstanding the defal cation ot the absconding officer. ' It is rumored this afternoon that a large amount of city foods is deposited in one of the suspended banks, and that some connty funds were with the Union Trust company. Two million four hundred and eighty-three thousand dollars of bonds were accepted by the Government at from 109 to 111.25. All offers of bonds under 111.25 are accepted. The following were the sellers of Gov ernment bonds to-day : Van Schaick & Co., $762,000; Francis T. Walker & Co., S18.000: E. Sweet & Co.. $11,600: Weston & Debillier, $5,000; George F. Baker, !ni,uu; vermuyeti: u., Si&ou,U00; W, T. Hntch & Son, 11450,000; Reid & Content, $13,400; Chase & Higginton, $100,-000; Wood A Davis, $400,000. Total, $2,407,000. . ' ' Elsewhere.. . - ! IV RUNS AND FAILURES. Washington, Sent. 20. The run on the Freedmen's and Washington City Savings Banks continued to-day, but is 'much less than yesterday. The former has paid out $65,000. Philadelphia, Sept. 20. The Fidelity irust Comnanv (fill tint rlnnA nt : n m yesterday, but "continued to meet all de mands, receiving checks as late as 5 o'clock, at which hour over nine hundred thousand dollars had been paid out. There was a run on the First National Bank, but it did not amount to much. The Union Banking company has failed. This bank has a State charter, and bore a heavy run yesterday. At Jay Cooke's the clerks are lireparine a statement to be laid before a meeting of the members of the farm on the arrival of the steamship Russia, on board which are two of the partners. The excitement over the failures has abated, and matters are beginning to assume the right shape. St. Louis, Sept. 20. Taussig, Gemp & Co., of this city, closed doors this afternoon, after the announcement of the failure of their New York house, Taussig, r iscner co. Chicago, Sept. 20. The Franklin Bank, a private banking institution, situ ated on the corner of Madison and Dearborn streets, closed its doors to-day, being unable to settle at the clearing house. The amount short was only $9000. Boston, Sept. 20. On Wednesday lost the firm of Horace Coun & Co., of Wo-burn, Massachusetts, extensive leather manufacturers, suspended payment. Their liabilities amount to $100,000. and it is estimated that their assets are $150,000. sinco the suspension, Horace Coun, the senior partner, baa disappeared. Albany, Sept. W. T. Squire oi Co., bankers, announce their temporary suspension until further advices from New York. Burlington, Sent. 20 The Orchard City Savings bank suspended nt 12.20 p. m. Toronto, Sept. 20. H. J. Morse & Co., bankers and brokers in tliiB city, have suspended, owing to the failure ot Jay Cooke & Co. and other prominent houses in New York. I.ondou. PRESS ON TOE PANIC. London. Sent. 20. The London Times. commenting on the tinanclal panic in JNew lorn, savs: "In view oi tne extra ordinary prosperity of the United States, and the high price of Government bonds, the present gust must oe remarked as simply an effort of the financial systems to get rid ot its dishonest element." The Daily Telegraph says: "ouch local troubles as the suspensions in New York seem to be are merely the rank outgrowth of an exuberant prosperity, and the acces sories to a progress which does not for a moment halt." The continental bourses are disturbed bv the news from New York. Dispatches from I rankfort, Hamburg, Bremen and Vienna say that no failures have occurred in those cities on account of the New York panic, but that much anxielv exists. Sunday Night's lienor!. PRESIDENT GRANT REFUSES TO INTER FERE1. New York, Sept. 21. At the confer ence at the Fifth Avenue Hotel to-dav in relation to the existing financial affairs, the President positively declined to interfere on the ground of a want of authority. The committee of bankers and merchants finally proposed that Government issue thirty millions of the legal reserve. Rev-erdy Johnson, who was consulted, gave his opiniqn to the effect that to use the legal reserve for purposes expressed by the committer was unconstitutional, but, it is said, added if he (Johnson) were resident he would be disposed, in an emergency like the present, to make almost any efforts to avoid the impending disaster. BANK 8TATEMF.NV. The bank statement did not appear until this evening and shows a loss of $15,977,-000 specie,-and $2,409,300 legal tenders, and contractions of $6,114,500; lonns $9,-277,400; the circulation is increased $30,-800. The figures are ns follows : (joan. National..., , t'j:l,l!19,WK , II1.I35.HI Hpn-ie i,Xai lender Ilenosits ilU.IIH ',800 ., 1 liS 877,100 , S7,3IU,Ol iis.wu.eoo '.',7' IMl 4,4.100 2ii,i;i,ooo 3:1,200 i!"M21,7MI IH.K-H.WPO :h,:io;.'.ki , ms.nin.ioo 27,114, iun of reserve national, Cm-uhition Xhito, Blnte S,ei'ie i.egiu letiuiTa..,. Deposit Cin-llliUion Totiil fpeele..... ...gin irnui'r.... Penosit Circulation Percentage $2355; State, fXlio; totals, $2,308. Loss of reserve. $4,006,800. in cold and greenbacks, and the reduction of liabilities is '.l,24U,U0U, on which L'4 tier cent, is $2,311,650. Banks, therefore, lose only $1,695,150 of actual reserves, and are $.'1,211,075 below the 25 per cent, line of the national bank method of calculation. THE FINANCIAL CONFERENCE. The conference at Fifth Avenue Hotel to-day in relation to the best means of . ' O -1 J! . ! ,1' 11 . . averting unniwini uiBoaiero in w mi street, has absorbed public interest in an almost unprecedented degree. The fact that President . Grant, Secretary Richardson and other high officials of Government had come here to consult with leading bankers snd merchants, was generally known this morning, together with the fsct thst those invited to the conference would meet the President and financial officers of Government in Fifth Avenue Hotel during the day. In consequence, not only bankers, brokers and merchants were in attendance, but the general public fiocked thither and listened to groups of Wsll street men here, snd there dis cussing the situation of the general pub lic, and sunougn Knowing little of the technichslities of stock speculation or of the causes which tended to produce the present alarm, nevertheless they seemed to feel thst the occasion wss fraught with importance to all. President Grant, Secretary Richardson, Senator Morton and General Babcock were ready before noon to hear tha views snd suggestions nf I prominent merchants snd financiers, some I 1 , 1 1 1 1 , . m wnom nao previously neia a conier- CHEAP CARPETS! WB WII Of FEB DURING THK WEEK A Large Line of 64 Velvets, at $5.00. 200 pieces Body Brussels, $1.50 to $2. 300 pieces Tapestry Brussels, $1.15 to $1.25. 50 pieces Three-Ply Carpet, at $1.35. . 100 pieces Best Quality Extra Super, $1.10. These Goods are being offered at much less than the usual price, and are worthy the attention of buyers. JOHN SHILLITO CO., 101, 103 and 105 West Fourth Street, sop 3m in ttt th ence and reduced their plans to a tangible shape. WHO WERE THERE. 1 At the Conference, and conspicuous, were commodore vanderDUt, Hen Clews, Isaac H. Bailey, Solomon Broth- ers, ueorge fl, Updyke, William Orton, President of the Western Union Tele- graph company, Prospect P. Sharpe, Jas. H. Burke. William L. Scott, of the Erie, Pennsylvania, Bank, Robert Lennox Ken- nedy, Horace B. Claflin, General E. S. Sandard, of the Adams Express company, Mr. Vail, of the Bank of Commerce, Sen- ator West and John Hoey, President of the Adams Express company. The first general propNsition was made by a committee appointed that the present financial difficulties should be relieved by drawing on the legal tender reserve. The committee had not agreed at this time as to the amount of such reserve which Military Academy, at Oakland, was en-would be probably required to effect the tirely destroyed bv fire last niuht. T.ns object sought to be attained. president Cirant and Secretary Kicli- ardson sent for many members of the com- mittee in turn and heard their views on the subject. After upward of an hour spent in this way nnd after listening to ilia mitten viewn ui scleral pruiuilieilL members of the committee. President Grant and Secretary Richardson instruct- ed the committee that nothing could be done without some precise proposition had been submitted. The ma ioritv of the committee broposed verbally that the Government should, if necessary, place the whole legal reserve of $44,000,000 in the National deposito- nes in mis city. . Secretary Richardson opposed this, and said he was utterly and inflexibly opposed to iteming kh wiiBiucraiMtj jiurtiun ui me possiDiy local storms; lor the Boutn At-legal reserve for the use of the city banks. Jantic Coast, Ohio Valley and Lower To use Mr. Richardson's own words, ! Lake region, southeast winds, fallinir quoted on the authority of one of the , committee : ihis, gentlemen, is not my funeral." General Grant and Secretary Richard son requested the committee of financiers "8- and submit to them in writing brieily uud pl;nl powlblo, what they (the financiers) thought should be done. and that the name of each one recom mending the course to be agreed upon be appended to the paper. Alio vuiuuiuim nuu ictireu tu ugret. upon a proposition to be submitted to the President and Secretary of the Treasury, when Commodore Vanderbilt entered the parlor in which the President and other financial officers were seated. The rooms and corridors adjoining the audience chamber were quickly thronged with the crowd awaiting impatiently for the exit of the railroad king, and nervously impatient to glean the faintest idea of what might be the result of his visit to the President. Commodore Vanderbilt made a propo sition that the President authorize the Secretary of the Treasury to place $30,-000,000 of the legal reserve in banks in this city, and on that condition, he, Commodore Vanderbilt, would add $10,000,-000.President Grant replied that he was anxious to do all in his power to relieve the present financial embarassment and prevent the impending disasters. He must, however, conform to the constitution.Mr. Opdyke nnd others represented to President and Secretary Richardson the necessity for immediate action, but they were informed that the Constitution could not be violated. At this point a Mr. L. 1C. Cutting broke forth in nervous and excited remarks on the importance of the Government taking immediate action on this matter. He said already people had begun to surrounding the savings banks of the city. expressing their determination to wait up an night ana make a rusii on opening oi the banks to-morrow morning. A rumor which now spread with light ning rapidity among the crowd, and was generally believed, that Grant and Richardson had come to the decision that they could place no part of the legal reserve at the service of the iew lork city banks. created intense consternation among the crowd which thronged the corridors of the hotel. 1 here were some w ho saw that no decision on the subject had been arrived at, and that another conference was to be held during tho evening. It was wildly asserted by scores that all the banks in the country would suspend, and that a run would take place on the Sav ings Banks to-morrow and would spread commotion throughout the masses of this snd other cities of the Union. While the gentleman named and others were giving their advice to the President, as to the course that should be adopted. and the crowds in the corridors and lobbies were indulging in all sorts of speculations as to the probable result nf the days' work, brokers, presidents of banks and capitalists were endeavoring to agree upon a proposition to be submitted, but although they had been conferring up till 6 o'clock, they could not arrive at any conclusion, and the paper was presented to the President. The President and Secretary were not of diverse sentiment, it appears, for it was agreed between them to instruct the Assistant Treasurer to buy all the Government bonds offered for sale to any amount. The ssvings banks hold many millions of Government bonds and it is probable that they will sell them snd deposit the proceeds in nstional banks, which will give them relief. The President and Secretary, soon after the decision arrived at by the Government had been made known, went to the' Union League Club Rooms and there dined, after which Secretary Richardson returned to Washington and the President went to the house of a friend. Chirac SavlBRS Banks Seared. CnfCAOO, Sept. 21. A meeting of the officers of the different Savings Banks in this city wss held to-day, at which all the Savings institutions of the city were rep OIJJ-OUWJWjgA.'TT, OBXO. resented. After a full discussion of the financial excitement and trouble in New York, and the probability of the panic among the people of this city. It was unanimously resolved J? noiV7 .tllei.r depositors through adver- newnpapers ana oy per- ""J"" n,otl.cc ,llst 'hey avail them- seLIve9 of ,,le privilege given them bv their whirs.of giving sixty days notice be- ,ore Payin8 tleir depositors. This action Jm deeml a simple act of prudence to fo'011 ie effects of any excitement whlch tbo news f the panic in New York "'" crea,e among their customers. SAN FRANCISCO. Military Academy Burn.U The Sunken Steamer. San Fbancbco. Sent. 21 Mi,rii,n. probably $40,000. Uivers report only a few small holes in the bottom of the steamer Costa Rica, She lies on solid rock, and has not chang- ed her position. Efforts will he mnH tn close up the holes from the inside, pump tne nuier um OI ine 1101a and UOat tlie vessel off. Most of the rarm hn hn taken out in a damaged condition. ' Wenther Probabilities. Washington, Sept. 21. On Monday, ' for New Rnirlniwl inut aA .,!,... winds, backing to southeast, with falling barometer and somewhat hih tmnc. . ture; for the Middle States, southerly winds, partly cloudv and warm weather; for the Southern States. nnrtheasterW winds, clearer, partly cloudy weather and barometer and increasing cloudiness;, for tile Upper Lakes, local areas, threatening weather, followed by northwesterly wind and rising barometer. Telegraphic reports are very generally missing from stations wcBt of Mississippi. tilled In a Game of Curd. St. Louis, Sept. 21. The Democrat has a special from Carbondale, Illinois, which says a difficulty occurred this afternoon between two colored men, named Bill Smith and Frank Collins, over a game of cards, and that Collins shot Smith through the heart, killing him instantly. SUMMARY OF SUNDAY'S NEWS. Civil war in Morocco is denied. The breakbone and yellow fevers prevail in New Orleans. Senator Thurman spoke at Hillsboro Saturday afternoon. , : Donald Dalymple, member of the British Parliament, is dead. The Texas editors attended the Cincinnati Exposition Saturday. Mexico has ordered the purchase of four war steamers from England. A $5000 fire occurred in Chicago Saturday at 121 Desplaines street. Louisville reports 150,000 persona attended her Exposition last week. There are fifty thousand members of the International Society in Spain. The Spanish troops and Cubans continue their struggle without much effect. The Clinton connty, Ohio, prohibitionists have nominated a full county ticket. Heavy frosts, and in some cases ice, are reported in Illinois, Iowa and Missouri. The yellow fever conlinues its ravages in Shreveport. There were 17 interments Saturday. A State Grange of Patrons of Husbandry was organized at Reading, Pa., Saturday. Western stock drovers will lie insured return passes from the East on and after October 1st, The Carlista Friday made an attack on Tolosa, and were defeated with great slaughter. Jimmie Rivers, a circus clown, has been sent to the Arkansas penitentiary one year for larceny. By a fire in the Yellow Jacket mine, Nevada, on the thirteen hundred-foot level, six lives were lost. For an annuity of 2,000,000 thaler, Frederick William has connsented to annex Hesse Cassel to Prussia. Since the yellow fever appeared in Memphis 150 deaths have occurred. I There. were 13 deaths Saturday. A Calcutta dispatch announces the loss at sea of the ship Indus, Coolie-laden, and one hundred and eighteen of the Coolies perished. When his right to rule over France is officially recognized and homage paid him, Count de Chambord will abdicate iu favor of Count de Paris. The Newgate wardens, charged with bribery in connection with the Bank of England forgery, have been discharged although declared not guilty. II. G. Curtis, a prominent business man of Waverly, committed suicide Saturday afternoon, by cutting his throat. The cause was financial embarrassment. Heavy rains Friday night in Georgia and South Carolina washed out several railroad tracks, causing a large number of accidents to trains, with considerable loss of life. Near Jacksonville, Illinois, Friday, Mm. ismnel Rannels was killed, aud Valentine Mct'ormsck snd Mary Puer, a little girl, were fatally injured by a train running into a buggy in which they were seated. A boat belonging to a French corvette, anchored off Cartagena, was fired upon by the insurgents, snd one of the seamen killed. The commander threatened bombardment, bnt the Intransigentes Junta , made apology and explanation.