Chicago Daily Tribune Newspaper, October 4, 1873, Page 4

4 THE CHICAGO DAIL 1'RIBU SATURDAY, OCTOBER , 1873 TERMS OF THE TRIBUNE, TERMA OF RUIIIC"II'TXON"(‘I'A!‘AHI-R N AI\VAND?.““ Daily) by mall, ... 8 12.00| Bunday. . Tri- Wookiy., S1E00| Walsy Tarla of a yoar at tho same rato. To provont dolay and mistakos, bo suro and ivo Post O1t conddress in full, ioluding Btato and County, Renittances may bo mado cithar by draft, oxpross, Post Offico oreior, or in outaterod lottars, at our tisk, TEANMA TO OITY BUNSCRINERS. Dafls, dotlsorod, Sundny excoptoas 3 conte por weok, Dally, dellserad, Bundny Includoly # contw bor wook. Adirons TIE TRIBUNIE COMPANY, Coruor Madison and Doarborn-ste,, Onloago, 1l TODAY'S AMUSEMENTS. [QOLEY'S - TIIRATRE—Randolph stroat, botsweon uflfl‘(omny}nsmlm ¥ B nud Wiko, " AfLaenuon and Woning fOVICKLR'S TIEATRE—Madisan stroot, botweon nl‘..‘r:mm and Siate,” **Saratoxa.” Afternoon and evaning. AOADEMY OF MUSIO—nlstod strect, botweon Mad. 1scn and Mouroo, Iingagomont of Joo Murpliy. ** Hoip,! A ftornoonand ovening MYERS' OPERA-HOUSE—Monroo stroot, botwoon Dearborn and Stato, ** Lifo on tho Frontior,' Mivstreley nnd comloalitios, Afternoon and oveniog. GLOBE THEATRE~Deaplainos strect, botwoon Mad- ton and Washingtou, ** Prairic Soouts.” Aftornoon nand evening. INTER-STATE EXPOSITION—Lako-8horo, foot of Adnms atreot. DR. KAIIN'S MUSRUM--No. 148 Sonth Olark stroot. Bolouoo aud Att. ISINESS NOTICES. BOOKS-STANDARD _AND MISORLIANEOUS it 1 t 105 and 197 East Ran- ok Bt AW ilab, LONG & LD, Autiionoors. TAVANA LOTTRIY—Wi: BOLD THI: 00,000 IN Ing, April2d, Circulars sont, in- tho oxtenonfinary draiing AWINIZ & GOu, 10 Wallvates 206 0ok, 53, Now York h oothingts wing Gullc, Aou 1s asi losa remody. _fi‘iufm-wn WARD-ALL OTTIZENS INTEND- 0 progcssion o tho ma o etod th Tont at74 North Olark-at., at 7 o'olock, sharp, TWATONELOR'S NAIL DYE, THIS SPLENDID Bafrdyo In tho Lest in the world. Thoonly truo and por foct dyo, Harmlaas, rolisblo, and instantancous: nodisnp- ointinent s no ridiculous tinta or unpleasant odor. Homa- Bick thio 1l effocts of tnd dyes and waslios, Produces im- mediataly a suporh black or natural brown, and loavos tiie Bt elony, sott, and bonutital. Tho kenuine, algnod W, GASES_MIS, WINS: ‘of ohildren, suoh » rollablo, and harin- o holor, Buld b Il druggists, CHARLES AAEREROT, Drourion N, Yo VAR SOHAACK, SPIVINRON ' MWD, The Chicage Teibune, Saturday Morning, Ooctobor 4, 1873. NOTICE TO ADVERTISERS, Tha pressure upon our columna on Sunday morning 18 80 great that wo nro compelicd to request advertisers tosend in their advertiscoments for that issuo at oa sarly anhiour os posaible, in ordor that thoy may with eortainty secure tho proper classification. b bbb ——, The Popo declines with thanks the various polito invitations Lo has had to emigrate from Rome. The Prosidont has ordered 5,000 army rations for the sufforing and starving poople of Shreve- _port. The supplics go forward to-day. The Echo de Parlement of Brussels has nd- vices that a Monarchy will bo declared in France upon the convening of tho Assombly. The Count de Chambord promises anothor manifesto, yhich will probably proparo the way. 1In n tolograph dispatch from Davenport, pub- fished in our columns the other day, it was stated that tho Davenport National Baok was receiving assistance from othor banks. This was an en- tirely orroncous statomont, a8 wo mow learn. Instend of recciving help from other banks, tho Davonport Natloual was furnishing asalstance to others, Tho Prosident ls crodited with tho statoment that no oxtra session of Congress will bo called. Whilo ho thinks that the financisl situation doos not demand an extri‘session, Lo still makes the announcemont that ho will put out tho $44,000,- D00 ¢ reserve™ na rapldly ns is consistent with tho Tremsury's interost. The old refrain of J* Moving thio crops” is given &s tho ocension. A-quarantino iuspoction in Now York has olic- ited tho fact that thore hoa boon yellow fover in the Lower Harbor ever sinco Juno 1. Tho fact hns boon withheld from the newspspors in ordor " not to creats plarm, for which there is no occa- gion whilo tho disepso is confined to the Lower Dy, Thero have boen sixty-four cases in all,’ and thirteen deaths, Seuator Thurman and Mr. Garfeld have beon muoking epocches ia Ohio, and both roferred to tho prosont discussion of epecie resumption. Mr, Garfield thinks that greonbacks should bo mndo ns good a8 gold, and that no time will be found moro favorable for resumption than tho present, Senator Thurman believes that the projoot should be postponed. —e Our special dispatehes from Washington give some gossip about tho vacant Chief-Justiceship. Mr. Conkling l6 8nid to desirc that Judgo Ward Hunt should have it. Judgoe Pierropont and Mr. Willism M. Evarts are also prominontly men- tioned, the only objection urged to the lattor be- ing tho foar that ho will not keep the place for puy longth of timo. Butler's opposition to Judgo Hoar is thought to be suflicient to dofeat tho latter’s prospects, whilo Justice Miller, of Obio, end Benator Howo, of ‘Wisconsin, are re- gorded as ahead in tho race. S —————— " M, Charles R. Dickouson, of McLean County, | November. who has been acting 88 Unjted Btates Rovenue Collector st Springfiold sinco Mr, Harpor's dis-, appearance, hes boen suspondod for a rofusal to distrain on tho property of certain Pokin distil- lers. Ho declined to do it on the ground that it would involve him in & law-suit, and, as Col, Morriam will agsumo the ofiice in n few days, ho did not think it incumbent on him to do this, It ia eaid that A, FL. Purdio will bo Acting-Col- Jector until Col. Merriam takes Lold, which Le is oxpectod to do by the 12th inst, e ot 1t is roported from Washington that a maj onty of President Grant's Cabinet ave in favor of ro- atoring tho franking priviloges to the Depart- monts, The Postmastor-Genoral will opposo the restoration, howavar, in his noxt anuual report. Those who favor it arguotlnt the present systom adds totha rovonue of the Pout-Ollico Dopartment at tho oxpouse of the other Dopartments, and is I tho intorest ouly of those who hold majl con- tracta, - Thoro Is not muoh prospect that Con- gross will give the Dopartmonts & franking privi- logo without sharing it in some way, President Grant's galary, it will bo remembored, was only {noreasod by giving tho Congrossmon $2,600 o gear oach to vota if. P ] The Republican Ceniral Committeo of Coolt County can't make up its mind what to do with rogard to tho-local cloction this fall. At p moot- ng yestorday alftornoon, & rosolutlon was offor- od to the offect that it is Inoxpodient for the Re- publican party to hold o convontion, The reso- Jutlon was amonded and discussed, but finally postponed for consideration st o futuro moeting of the Committee. Tho prevatling sentimont soomed to be opposed to the holding of a con- wontion on thoe ground tbat thero J8 no Natlonal or Congresalonal {nsuo in tho munleipal electlon, Tho Committeo adjourned, however, ostensibly to think ovor tho mallor another wook, aud probably to talk 1t over with the “powers that bo.” ——————— The roports from tho Intor-Stato Industrinl Exposition indleato thnt tho ontorprise will bo gratifying and profitable to thoso who have Rivon timo and money to it. The number of visitors, sinco tho opoulng, have beon mostly rosidents of Ohicago, £Gr the reason that the ro- cent flnancial flurry hias intorruptod gonoral travel, and doterred many pooplo from coming to Ohieago for tho special purposo of visiting the Exposition, Now that the ** searo " is over, and businoss {8 réturning to its customery channels, it is probable that thore will be numerous daily arrivals from the country, and ospocially from the noighboring districts whose inhabitants can make the trip, including an inspoction of the Exposition, within one day. Theoxporenico thus far has almost domonstrated thnt Chicago can pustain an annual oxposition without any other help thau its own rosourcos nud the ordinery run of transient travol, Another infamous attompt at political black- malling has beon exposed, this timo at Balti- more. The Govornment Survoyor, namod Gil- pin, and tho Naval Officer, named King, inti- mated to their subordinntes that contributions from thofr Soptembor salarica at a certain offico, which turned out to be that of the Becretary of tho Nepublican Exccutive Committee, would bo accoptablo, and that if tho contributions wore not forthcoming tholr resignations must be. Bomo of the clorks accodod to the outrageous domand, but others indignantly refused. Bocre- tary Richardson approves tho action of tho lat- tor, and snys that thoy shall Lo sustained. 1tis not stated whethor tho occasion of tho asscss- ment waa tho samo as that of Postmaator Filley’s at 8t, Louis, Wo havo not heard that Gen, Grant hins rocontly made a stato visit to Baltimoro. The Chicago produco markets woro firm yos- torday, under a continued good demand for cash lots, but tho upward movement in prices was par- tially checkod. 1foss pork was quiot and strong ot 14.873{@14.50 cash, nnd 818.25@18.60 sollor Decomber. Lard was quiet and firm at 75@ %0 por 1b cnsh, and 78{o scllor Decomber. Ments woro nominally firm at 83¢@81{c for short ribe, 83¢c for short cloar, aud 0@10}4o for swaet pickded lhams. Highwines wero quiet nnd strongor ot 91@020 por gallon. Lako froights were active and ¢@1c highor, at 0c for wheat o Buffalo. Tlour was quiot and firm. Whoat was m good,demand, and 13¢@2¢ higher on cash, ‘which closed at $1.06, whilo options were casier, closing at $1.05 scller tho month, and $1.053¢ soller Novembor. Corn was quito active and firmor, closing ot 38340 cash, and 403c sollor Oata wore in fair domand, and 3@ {0 highor, closing at 813¢0 caah, and 833¢c eller November. Ryo was active and steady at G3o. Barley was more sactive. but declinod 4@6o, closing at $1.80 for No, 2, and 81.) for No. 3. The live-stock markets were moro active, and cuttlo and hogs advanced. Shoep wero firm and unchangod. ‘We print on the second page of to-day's paper tho speech delivered yesterdny afternoon by Gov. Washburn at the openiug of the fall campaign st Fond du Lac, Wis. Thero aro many points in tho speoch worthy of attontion. Gov. Wash- burn takes a hopetul view of the financial out- come, though ho confinos himsolf to genoralities on this subject. Ho sympathizes with tho Re- form Movement in Californis, led by Gov, Booth, but he naturally fails to recoguizo tho nocessity for o soparate movemont of a gimilar nature in his own State. He be- lioves that the peoploe of Wisconsin have the right under the Stato laws to coutrol tho rail- roads, Mr, Washburn makes a good record for himself in tho Credit Mobilier ateal by refor- ring back to hia specchos in Congress in which he gave warning of the dangers incident to tho soheme, and deprecnted the very action which mado the Orodit Mobilier frauds possiblo. Mis answer to the charge that he voted for back-pay in 1860 is that ho was not o member of Congress at that timo. o was s ‘momber in 1856, and voted for the increase from the per diem componention to £3,000 a year, No ono has ever thought of condemning that action. His expressions on the subject of tho tariff are vory conservative, Ho snys distinctly that he dosiros protection for no clags, aud does not ob- ject to tho removal of tho duty on conl, iron, salt, and lumber, even though ho is personally intorosted in the latter commodity. THE FINANCIAL NEWS. The “mcare” is oyer, Tho samo steady and uniform progress towarda full resumption of tho bouks, grain trade, railroad shipmonts, and ccommorcinl businoss generally, roported for the past threo days, was noted yesterday in this city and elsowhere. The most important local rovi- val of tho day was at tho Stook-Yards, Notice was recolved from New Yorlk bankers that they wero again propared to furnish their Chicago custom- ors with reasonable accommodations, and Chicago was ablo to give tho some assurance to country dealors, Tho result was a lively dispatoh of business. New York exoliange, which hes beon at o discount for soveral days (somotimes 88 low a8 5 por cont off), was taken at about psr in tho pftornoon. This resumption at tho Stook-Yards, which transact an annusl business of noarly $100,000,000, will bo & great roliof to the Wost. Tho graln trade ia active, and it is probablo that tho prico of whoat rules ps high to-duy A it would have beon at thia time if thero had beeu no financial disturbanco, Tho sales of throo weeks ago for Boptomber and Octobor war- rant this statemont, Tho bnukers report that maturing commercial and accpmmodation papor is bolng paid as promptly as conld havo boen expocted after the oxtrnordinary strin- genoy of tho last two wecks. Doposits aro incrnsing, A8 & mattor of course, with the roatoration of public confidenco, and somo of tho banks aro doing 4 largor doposit businecss than ever. A visit to the quarrymen and stonc-outtors revosla tho fact that thero has beon no roduction of force, though, in some casos, tha wpges are not so high, Tho whole- galo morchauts giva favorable accounts of coun- try trade avd tho paymont of mntured accounts, It 18 rpportod from Indianapolly thet gcortain poraons ju thot Stato have boon advising tho country merehants not to meot their papor but 0 Liold thewr eurrency. This ingendinry advice should not be heeded, It ja at gnoo unsafe pnd immoral. New York is ranldly righting itaclt finanolally, Ono milljon moro of loan-cortificates have beon retirod, and they aro quoted at only one-half of 1 por cont discount, At this rate thoy will be as good as greenbaoks to-dsy. Gold has doolined £01093¢, which is lower than at any timo alnco the punio gamo pn, Bomothing was doing in oall loans of gold and curronoy nt 7 por cont per annum, with 1-16 n day prominm, which fanot an unusual figuro, Moro gold is coming In from Luropo, and more than 75 por cont of the graln recoipts at Liverpool ave roportod to bo from Amorion, Tho Unitod Statos Mints in Philadolphin and Californin nro tnrd at work coining Amorloan gold with which to take up tho English sover- oigns at the Assay Oftico in Now Yorlk, Though yostorday was tho last day of graco on tho Btock Doard, thora wore but fow snlos under the rule, aud but one fallure among all the brokers, Tho rosumption of tho Natlonal Trust Company i announced, The news eisowhora partakos gonorally of tho same ronssuring ohinrastor. Tho only oxcoption of any importanes is tho rosolution adopted by tho Pittsburgh manufacturors to withhold ono- balf the wnges from tholr omployos for the prosont, This action will, no doubt, ba ronson- obly nccoptod by tho workmen, as it is tho fairost plan that could have boon nadopted in tho tomporary smcarcily of ourroncy, and s they oannot but feol confidont that thoy will rocolve thelr monoy in full within aghort time. Jay Cooke & Co. annouvce, through Gov. Oooke at Washington, that tho mombors of the firm propose to turn outall their porsonal proporty toward tho paymont of tho firm dobts. A consorvative Governmont policy is indicated by the rofusal of Seorotary Richardson to send Charleston, 8, O, the 5,000,000 doposit it domanddd for the purpose of buylng Now York drafts. He announces that the Government will not go into this sort of business. UNION NATIONAL BANK, Tho statoment of the condition of the Union National Bank (in liquidation), which we pub- lish olsowhoro, is o most gratifying ono to tho deposltors and creditors of that iustitution. A condonsed oxhibit i as followa : ASSETH, Bills recolvable..... Casl assots..., . Unitod States bonds, &o, Country doposits, $1,310,605,48 Gity deposite, 810,580,13 Certified. checks, 5,050 Grtlficates of doponit. 18,918.00 Checka icld a8 ** margin: $,213,320.02 Excess Of 838018, ¢0veaseasssssnsaeases$1,255,178.02 Wo prosumo tho circulating.notos of thoban k aro to be deducted from this sum ; but, as the amount of eaid circulation is considerably lesa than thot of the bonds doposited to secure it, thoro will bo o surplus of over one million dollars after all linbilitien aro paid, or & sum equal to the entire capital of tho bank. Inasmuch as the stockholdors are held for anothor million, if nec~ essary to pay dobts of tho bank, it is porfectly cortain that the depositors will get every dollar of their monoy. It is probable, also, that tho capital of the bank will bo roturned to the stocklioldora unimpaired. . It thus appoars that tho bank wasin a sound condition at the tinte the panic began, if any Dbank can bo esteomod sound which bolds largo balances duoe to country banks on domand. Buch balances are a species of financial nitro-glycor- ine. It was this sort of oxplosive material which brought down the Third Nntional, and which forced the New York City banks to sus- pond, and which still keops their cortified cliocks bolow par. Tho payment of intorost on do- posits is not banking. It is simply spoculation, and should bo prohibited by law, 8o far as the Na- tional Banks are concernod. BECURITY OF THE BANKS, Currency is pouring mto this city at tho rato of from threo to four millions per day to pur- chaso wheat, corn, flour, and other nccessarios ot life, which tho East must have, and this flood of ourroncy is in roality the key to tho situation. If the holders of this curroney lock it up, the stringoncy must continue, with possibilities of more failuros, To roliovo tho present situa- tion this monoy must go into tho banks, end got onco moro into circu- lation, that the whools of businoss may move again, Thero ia no reason why it should not tako this course, unless there isa doubt in the public mind relative to the solvency of the ‘banke. If this doubt can be romoved, the situa- tion is clear. On this point the provieions of the National Currency nct are oxplicit. Tho twelfth soction of the act declares that: “The shareliolders of each association formed undor the provieions of this act, and of ocach oxisting bank or banking sssociation that may ac- copt the provisions of this act, shall bo hold individually rosponsible, equally and ratably, and not ono for another, for ell con- tracts, doebts, and eugagoments of such agsocia~ tion to tho oxtent of the amount of their stock therein, at the par value thereof, in addilion lo the amount invesled in such shares; oxcopt tho sharcholders of any banking association now ex- isting under Stato laws, baving not less than 86,000,000 of capital actually paid in, ‘and o surplus of 20 per centum on hand,” &o. The lotter clause concorns only tho Bank of Commerco of Now York, for the benofit of which it was made, and hns no refor- onco to the general'question. The remaining portion of the Inw, however, rondonng stock- bolders liable for tho amount of their stoolk, and an equal amount in addition, ought to re- move overy doubt as to the solvency of tho Na- tionnl Baoks, The stockholders of the Unlon National, Third National, and others which havo suspended, forinstauce, are vory wealthy, out- #ido of the amounts they may have Invested in bank stocks, so that tho security of dopositors oxtends o long way boyond tho assota of the ‘banks, Thig boivg tho caso, therois no good rongon why holders of curroncy should koop it in their stockings auy longer. Put itin the ‘banks and set it moving again, 8o that business ‘may once moro rosumo its logitimato functions, The sooner this is done, the soonor will things talo thoir norma} couree again. MEMPHIS BELIEF, The roports from Momphiy indicate that tho yollow fover ia making terrible havoo in that city, and that the people aro paralyzod with the suffering they have already ondured, Thoy aro no longer in & condition to give the afilicted tho caro thoy ought to have, and much less to inter- posie cheoks to the progress of the wseourge. Boveral privato telegrams bave beon rocoived in this city confirming tho worst accounts that hisve bpop given of the pestilenco, and pleading for ald in laugnege that ought to go to tho Liarts of all mon, 'Wo print cleowhero a dlspatch recolved by Bishop Whitehouse, who Ling rocommonded tho churches to tako somo ac- tion to-morrow, Anotherdispateh addroased to o oltizeh sgys thabthe morchants of Chicage should tako somo steps toward fyrnjshing relief, ‘Thoro s nodoubt 6¢ tho readiness of Ohiosgo to yospond to such appeals; it Is only necossary that somo one should take the lead, It would bo woll for Acting-Mayor Dond to orgnnizo tho movement to-dny, ‘Tliero s no timo to lose and no ocension for delay. Monoy I8 nood- od. Tho oitizons' nppeal from Memphis anggests hat the Mayors of tho several citios Intorost thomselves in thoir suforings. Chicago has alrendy forwarded n veryrospeotablo sum of money to Blirevoport, La., collacted by privato effort, It is nlsoreported from Memphis that 81,000 have boen recoived from tho Chicago Donrd of Trade, If Mayor Dond will tnke hiold of tho matter, ho enn interost tho mer-’ cantile community, nnd monoy may ba sent to Momphis to-night. Tha churches can do their port to-morrow, and send thelr contributions for- ward Monday. Chicago must now romembor the glorlous charitios sho received in the dny of her aflliction. P ] JUDGE BLATOHFORD'S DECISIOR. Tho oxcitemont in Now York on Thuradny con- soquent upon tho snspousion of the brokerage firm of Bird, Grinnell & Co. was not oceasioned by the announcoment of the fallure, but by tho injunction lssued by Judgo Blatchford, restrain- ing tho holdors of collatorals from selling, This 18 undoubtedly a grave mattor, and ono aifooting a vast multitudo of loans in all parts of tho country., If it bocomes n seottlod principle of law that whonover n potition isflled in bankruptey the Court may tio up tho collatorals which tho bankrupt has pledged for prior loans of monoy, tho value of collatoral socurity will bo matetinily lessoned. It is tho ossonco of col- Intoral notos that thoy glve, by contract botwoon tho maker and tho holder, the right to soll upon dofault. Thoe practice of enjoining such salo ab any time whon tho makor of tho note shall fail to pay somo other dobt, and recoive notice of a bankruptoy proceeding, might, in somo casos, forco tho holdor of tho noto into bankruptoy by his inability to borrow at all, oven upon the vory highost scourity. ‘The injunction in tho caso of Bird, Grinnell & Co. mny have been granted upon reprosenta- tions of fraud in tho petition, and may boe dis- solved upon hoaring of the argument, Itmay have boon alleged that tho collatorals wore put up, not for a new advanco of money, but to securo old dobts, in which oaso the firms holding the collateral would be in tho position of pre- forred croditors in violation of the law. It may nlso bo that the injunction was pranted in order that tho collalorals should not bo sacrificed. This is done frequent- Iy by Bankrupt Courts in tho matter of roal os- tate mortgugon or trust doeds, The uature of a collatera], howover, is ecssontially differont from ronl estato wortgages. It has been held that any property, resl or peorsonal, under & mort- gogo or & cohtract of sale, may bo redoemed out of the asacts of the bankrupt and discharged {from tho lien for tho joiat bonefit of tho credit- orsj but this courso docs not appear to havo been adopted in the Grinnell caso, though it would bo natyrally tho stop to tako in justico to all partios, if it woro the purpose of the Court to protact tho collatorals from being eacrificed. The law provides that a Baukruptcy Court * may, by its injunction, restrain the debtor, and any othor person, in the moantime, from makingany trausfer or disposition of any part of thodebtor’s proporty, not oxcopted by this act.” Under this provision, the powers of a Bankrupt Court have baen hold to bo vory broad. Tho power to col- 1gct nssots hag beon given by tho law, and it is held that this power iucludes the right to rostrain tho parties from liquidating their licus without the intorvention of the Court, sud to preserve the proporty by restraining its snlo until the lien is ascor- tained to bo good or void. Tho petition in the casio of Bird, Grinnoll & Co. probably sats forth fraud, and the Court has therenpon exorcised its power to onjoin pending tho order to show causo, The impropriety of & permanent injunction re- straining tho sale of collatorals, under a lawful contract to soll upon dofanlt of paymont, during the winding up of tho dobtor’s assots in bauk- ruptey, can roadily be recognized, and {t is not Pprobablo that any Bankrupt Court would under- take to do this. Iv is & question whothor such o proceeding would not bo unconstitution- al, a8 it would bo the impairment of the obliga- tionof o contract. As thore is always some ronson to suspect that Wall strect stock con- tracts aro tainted with fraud, Judgo Blatehford probobly bad good ground for enjolning tho sale of tho Grinncll collatorals, In such cage, thoro is nothing In the docision caloulated to impair the socurity or to destroy tho credit on which bona fide collateral loans are made, —— CONSTITUTIONALITY OF THE LIQUOR LAW, Weo print vlsowhore the deoision of the Bu- promo Court of this State, pronounced by Judge Beott, afirming tho coustitutionality of tho Liquor law of 1872. Although the points made by the appellant are meraly tochnical quibbles, tho docision is broad onough to cover the ontire construction of tho law. The caso was ono whoere n saloon-keopor, doing business noar Ot~ towa, but outside tho limits of an incorporated town or city, had sold liquor by the glass with- out giving tho roquisite bond or taking out & licenso, Judgmont was ontered agoiust him by tho Justico of the Peaco aud also in the Circuit Courf, where an ngreed cago had been made. Before the Buprémo Court, the appellant made these points : - Firat, that the phrascology of the sixth section, impos- ing tho ponalty, rendored it nocessary that ho should bo convicted of Laving violated tho firat and second sections, whorens there was no proof that ho had violated tho second section, which conditionally prohibits tho sale of liquor to miners, On this point the Court decided that it waa not indispensable that ho should bo con- victed of having violated both.: The law boing mainly o copy of the Ohlo law, and this point baving boon docided slroady in Ohlo, tho con- struction of the luw must be adopted with tho toxt of Lho law. Bocond, the appellant urged that tho abating of o saloon is tantamount, to the destruotion of privato proporly, henco illegal. Tho Court held that thero wus no destruction of private property, and that it was constitutional for tho Leglslature, through the exorciso of its polico powors, to abate nulsances which wore projudicial to the publio morals or wolfare. ‘Tho third and most important point which tho appollant urged wag, that tho act is in conilict with the Oonstitution of 1870, prohibiting tho passago of epecial lawa granting to indlviduals or corporations any special or oxolusive privis loges, No law boing in forco at tho passago of the not in 1872, othor then in tho chartora of fn- corporgtod cities, touching liconsos, and tho mppollant bolng outslde 4 incorporated limits, ho could mnobt obtaln 8 liconso, honco the law mcted unoqually, snd was yold, Upon this point the Court doolded that, oven if this stato of facts wero ontablishod, 1t doos not follow that tho law of 1872 1y unconstitutional, The net is n gonornl ono, affeoting all classos in tho Btate undor tho polica powors of tho Loglslature, and is author- fzod by tho Constitution. Tho above s tho substanco of tho dociulon, and although fho points mado by tho ap- pelisnt aro techinienl and outsido the general bearlngs of the law, the afiirmation of the Court is suficiently Lroad to covor tho wholo ground, Tho same pointy in substance hiave beon declded boforo this in Ohio, whero tho Inw is almoat identionl with the law in this Btato, It s n doclsion which is in the in- torosta of public morality, and it will, thereforo, bo gladly wolcomed by the law-abiding and ordorly pooplo of tho Btate, espoclnlly in the country districts, whoro the decision will havo tho widost applieation, OOEAN FREIGHTS. Ocoan froights are roported firm, with an ad- vancing tondency. Tho myslery of thisis vory ounslly solved whon we consider how Iarge o portion of the pay we get for our grain abroad is coming in the form of gold. If tho roturn cargoos of tho oconn stenmors consist ouly of & fow bngs of soveroigns, upon which soarcoly any freight-money I8 enrned, it is obvious that the outwnrd-bound grain muat pay higher ratos. It must pay the stoamor’s oxponses boll ways. The {mporta- tion of gold, thoroforo, Is not without ita draw- backs. Regardod asa means of restoring specio payments, 1t i8 o healthy movement, provided advantagoe bo taken of it to sccomplish that ro- sult. Rogarded in any other light, it is an mn- healthy token, since it puts upon our exported grain tho onus of defraying the cost of two trips ncross tho ocoon inatond of one. Tho Ban Francisco Ohronicle recently had an oditorinl in which it pointed out tho fact that last year California purchasod twelve millions of whent bogs, and that this year neatly as many will bo neoded, Thoso bags aro imported from Hcotland, and last year cost ono million dollars, Tho Chrondcle thinks the bags ought to ba made in Californin, thereby giving om- ployment to 1,500 persons, who could weave imported jute into burlaps, and convort tho latter into bags, Yn another articlo in the same prper it declares that tho farmors on tho Pacific Slope aro robbed of one-third of thoir grain through tho oxcossive rates paid for carrying it to Europo. Congress in Its wisdom bhaving taxed Amorican vewsols out of oxist- onco, thoso which visit Californis to get wheat are European. Tho vessel of courso collects froights both ways. On the way hither it will collect froights on tho bags or on tho juto ; if it carry no bogs, nor jute, nor any other froight, then it collects from tho re- turn corgo of wheat tho whole sum of froight that it would have carned upon a full eargo both ways, The Chronicle would have the importa- tion of bags stopped altogother, so that thoy could be mado in Californis, and to sccomplish that end and give employment to 1,600 porsons now ongaged in some profitable work, would subjeot tho grain produced in that Biate to doublo the prosont cost of froight to Europe. That is what the Protectiopists call oncouraging tho home production of bags, by an extraordi- nary and spocial lovy on the grain producod in the Btate. If freight one way now consumes one- third of tho grain produced in Californis, paying freight both ways would tako an additionnl third, and wo submit that this would be an exponsive modo of building up tho bag business. Even then tho chancea are that tho Scotch bag-makers could soll their bags cheapor thau thoy could bo mado for in Cnlifornin. The Scorch manufac- turers got thoir jute treo of tax; tho Califor- nians would have to pay o tax on their jute of 20 to 915 por ton. Porhaps the Chronicle would find considerable rolief for the grain-pro- ducors of California if tho tax on tho bags brought into Californis wore ropoaled. Tho tax on tho juto bags is 63 por cobt, which tax1s paid by tho grain-producers out of tho proceeds of tho salo of tho grain thoy putinto thom. Lot Callfornia domand the ropeal of this tax on bags, which is wholly paid by the grain-producor. RAILROAD-PANICS IN GREAT BRITAIN, The fact is now very gonerally recognized that an oxaggorated expansion of the railway systom of tho United States, tho construotion of thou- gnnds of miles of track leading from a fixed point to nowhore in particular, and speculation in the worthloss bonds hypotheeated for such construction, procipitated tho recont panio upon this country. Tho additional fact is also vory genorally admitted that, afler this sovero losson, monoy will flow into somo safor chanuel and sook investmont in a sounder security. Tailway panics, however, are not peculiar to this country. Thore 18 every prospect that Great Britain will shortly be plunged into financial confusion in the same goneral manner, but from difforont causes. As with us, railway mis- maungemont i8 tho dangor which throatons that country, and it ias'at lagt ronched such a point that a crisls is imminent. The particular phasos of mismanagemont, howover, which aro imporil- ing railrond and financial intorests thero, diffor cagontially from ours, In the first place, tho traveling public {8 in & panic over the extraordi- nary incroaso of railway accidents, There has beon scarcoly o day for tho paat two months without & serious aceidont on somie of the Eng- tuh roads, and, as the Engliah public is much more sensitive upon the subject of railroad ac- cidents than tho American, it is bringiug & prossuro to bear "upon thoe railronds which will ultimately compol them to use some degroo of carofulnoss in runnivg traing and to reduco the rate of spood. The Amorican travelor takes his chancos of being crushed or boiled with a choorfil dogroo of fatalism, but the Dritlsh travolor has a strong projudico againat any such oporation. But tho panio I8 not confined to the traveling public, The managers, atockholdors, and bond- boldors aro also in & panio. Tho great inoreaso in tho price of conl, iron, and ateol, and thoe rise 1 wages of every doscription of Inabor, have forced their exponses up to & ruinous poiut. Tho companies havo sought to offsot it in vari- ous ways. First thoy tried tho exporiment of ralsing faros, only to iind that whon thoy passed & cortain point it had the immediate effect to dooroaso tho amountof traflio, and, even at tho safo maximum, that the incrense in roceipts loft ouly a vory small margin over the increase in expondituros, Becond, tho companios insu- guratad a destructlye systom of economy and rotronchment, by usiug deficlent rolling-utock, n}sglo«tiug to mako roppirs in the rondways which wore needed, and charging overything possibloe to capital, Dut this polioy has brought about the orop of acoldonts which, as wo have already spid, had plunged tho wholo traveling publio into & paule. By such shifts na thoso, howover, thoy have coutrived to keop pp divi- donds ; but oven theso shifts ‘aro proferable to tho patent plan of the Lake Bhore Road, dovoloped in tho failuro of tho New York Union Trust Company. This eapacity for pro- ducing dividonds, howevor, is tomporary at bost. In tho Lwelve yonrs betwoon 1860 and 1873, tho proportion of net receipts to paid up capital hns rangod trom 8,80 to 4.74 por cont,~—the lattor fig- uro, which was ronched in 1872, boing tho maxi- mum, In this country, even with our notorious management and stosk-Jobbery, tho porcontage 18 6,20, Including tho watered stock, Four por cont I8 n poor return for the immenre amount locked up in railrond capital, and it hos got to be quito as noforious in Lugland as in this “country that raflrond fortunos bave not been mado out of dividends, but out of the jobs con- nected with the roads and manipulated by rings. In this country, tho orash hiaa como first, beeauso the flold for such oporations 18 almoat boundless. Instend of a small island, wo havo n continent, and thore hns been no limit to tho distance over which o ring could spread. In Beotland, a erisis I8 also imminont In the man- agoment of roads, growing out of the froight quostions, which in turn aro counected with the provalling coal and fron troubles. Tho presont freight rates wero made to tho iron and conl mnstors twonty-five yoars ago, and have never beon smonded since, although thoy were made at o timo whon the prico of iron and coal was onoe-third loss, whon wages wero down to a low point, and tho cost of railrond matorial was much choapor than it s now., The Glasgow Herald snys: *Tho railway companies draw hundreds of thousands of poundr avery yoar {rom theso great tradors; thoir traflio blocks the inos, and it is carrlod at old prices, which aro loss thon the old prices to ordinary traders, and cannot pay in tho altered circumstancos.” Pal- pably unjust as this discrimination is, however, there does not seom to bo any way of romedying it, from tho fact that theso iron and conl masters hold sufficlent stock in the ronds to dictato thoir policy. Consaquontly, the smaller stockholdera must continuo to bo eacrificed to the largor until acrash comes. This time is ovidontly not far off in Gront Dritain, Tho story of raflway man- agement g the same the world over; it follows that tho moral muat bo tho same also. Tho atatoment ¢! Prosidont Johnson lost £60,000 by {he failure of the Firat National Bank in' Washington has been confirmod. As this sum comprised tho bulk of his means, which ho has saved from a Jong lifo devoted to publio sorvices, and a8 the above bankis notonly helplessly broken but aleo dishonored, we havono doubt that the ox-President will receive very general sympathy in his loss, Whatever sins of omission or commission are to bo charged to Andrew Johnson, it has nover been intimated that he wns dishonest. If ho had beon, his fortune would probably have been larger than 800,000, In flunocial matters, and especlally in the matter of donations, it will be romembered that ho was gorupulously partioular, in which respect he dif- fors from Government offfcials of the presont day. Judge Withey is roported to have said, in the oxcitement of debate in the Michigan Constitu- tional Commission, that it isa practico of Illinois courts to call an attorney to tho Bouch whilo the Judge goos out togotadrink. It is possiblo that Fadgo Withey regards this ns & “modorn innovation" upon the ancient practice of his dny, when tho Judgo took his drinks on the Bench, without going out or in any way intor- rupting tho progross of business. The Michigan Conventiou has not yot decided which practica is to govern courts in that Btato for the future. The Tronch papora report that the gathoring of the vintage is now carried on very actively, but that the yiold will only bo one-half of that of an ordinary year, owing to the ravages of insocts, especinlly of tho pyralo—n nort of butterfly—for the destruction of which no means have yot beon found. 1t is choerful, however, to romember that the orop out of which champague is mado in New Jeraoy nover fail —_— NOTES AND OPINION. It is oxceodingly desirable that thoro should be an end of all unduo expansion, that the liqui- dation of indobtodness should bo encouraged, and that spoculativo onterprises should romain unassisted, but tho logitimate business of the country has tho most undoubted claims for am- plonld, and bas manfully stood by the banks, and it is now timo that there wos raciprocity of confidenco,—Detroit (Mich.) Tribune. —*% There are men in this town who ars in favor of tho Government goiting Joy Cooke on his ‘pius’ again,” said a citizon of Kowaueo to us tho other dey, “ bocause ho Las done so much for the Governmont.” . . . . o ceannot sac what sorvico hio hasrondorad the Gov- ernmont that he has not been woll paid for. Thoro aro probabiy thousands of mon, aqually capable, who would hiave been glad to perform the same servico for a loss componsation than ho received. — Kewanee (II.) Independent. —If the Now York commorcial journals are fo bo credited, the buemnass-men of Now York have not o vory high opinion of the financinl capacity or sagacity of tho Administration, as formed from tho oxperience of Lhe prosent crisis, ''hoy allego that the Administration has stoadily op- posod those financial roforms which would have rondored such » storm imgmuuibln; and that then, when it was evidontly impending, and threatening gonoral bankruptoy, those mensures of roliof wero rofused which it had previously employed in emergeucios not a tythe so grave in thoir oharactor. Both the Daily Bulletin and Dniled § Slates Lconomist spesk vory strongly on the subjoct.—Lortiand (M) Argus. —Nothing leas startling than tho develop~ mont of the Credit Mobilier swindle and the Northorn Pnelfio explosion could have shaken some_poople out of thewr infatuated love for snbidy-giving 08 & policy of Governmont. It was the old delusion of s strong, contral, proteoting Administration which should tuke all sorts of sohomes under its wings, and be everybody's porent and bonefactor, At the vory bost'such & principle is fatal In application, becauso it makes the governed lean too much on the Qovornment, instoad of using thewr own intellect, eonorgy, and mounoy, But, in ractico, 88 wo have seon it illustrated of late, this is the lonst of tho evils that subsidion prmiuco. ‘They not only make poopla too do- pendent oo the Government and too distrustful of themaelves, but they are the ocoasions of cor- ruption aud swindling. They debouch Loglula- tures and thoy rob tho psople.—New York Jour- nal of Commerce, —\Vhntover the Pennsylvania farmors may thinl, our farmors are moro or less skeptical on tho subject. They nllogo that facts do nok sup- port tha thoorles of protectionists ; that, owluy to somo inoxplicablo porvorsity in humun af- fairs, tho higl llrico for all the farmer buys follows tho high tnriff; but the home markot is n myth, sud the advanco prices for agricultural products that woro so confldontly romisod are nover realized. One result is nvarinble : the farmer gives more for all he buys, but gots no moro for what ho sclls ; and thorofore prays that ho may not be * protoctod aftor this curions fashion any moro.—Fond du Lao ( Wis,) Commonteealth, —I'ho roceut fnancial disnster wos causod by n sovero and protractod attaok of new railways, and onterprisos of this description will bo looker upon with distrust and bandled vory cantionsl, in the future, Iio Northoern Pacille diaggu down Jay Quoke & Co,, tho Chesapouko & Ohio sunk IMek & Hatch, the Canada Boutliorn proved too lieavy & lond for Kenyon, Jox & Co,, and the New York Midland has soveroly oripplod most of the towns along its line. With tho fate of thoso owarfal housos and poor towns staring thom in !’ho face, capiialists will ba caroful in tho future how they plunge into railway ontorprises in the oxpeotafion that the public will help thom out of their ombarrassment by purchasing bonds, Tho effool will ho that vastly fower miles of now ruilways will bo conatructod during tho noxt de- cado thon wore put fn oporation during tho last, —Iygulo Gommeroial Advertiser, -Iuformatlon as to tho natusl soverd YELLOW FEVER. Twenty-one Deaths from the Disense in Memphis Yesterday. The Scourge Sl Raging Fearfully in Shreveport, Much Suffering Among Sick and Be- reaved Families in Both Cities. The President Contribntes Five Thou- " sand Army Rations for the Relief of Bhreveport. Ald nnd Assistanco Golng Forward from Ofher {Quarters, Recelpt of $1,000 Acknowlodgod from the Chl« cago Board of Trade.' Spectal Disvateh to The Chicago Tribune. Mexeuts, Tonn,, Oct. 8.—Tho panio to-day from tho large incrosso in tho yellow fover deaths, and the furthor aprend of tho diseass ta nearly every part of tho eity, hns caused the sudden oxit from the city of noarly 6,000 pooplo, many of whom Lavo been taken ill at small towns where thoy went, und whero they ara now unablo to procure propor modical attontion, This must result cortainly in a large numbor of doaths, Tho exoltement is not os high as was anticipated from tho largo death-list yostorday 3 but to-morrow it will bo higher, porhaps, as the donths to-day from yellow fover are twonty-ono, and in all thirty-nine, THE YELLOW FEVER DEATTIS to-duy woro Bello Tannor, aged 44 ; . D, Ander- gon, 22; Emma Nowsom, 6; Snrah A, Titus, 51 ; mr:.}]n(wamnek, 14; Joa, Hyckey, 14; Oatha- agglano, 20 Annio ' Strolo, '16; ' Richard o Jordan, 85; Edward McBrido, 61 Jobin O 14; Mrs. O, A, Dystioy 98 Samuel Pnrkar?rfol;; Mra, Crawford, 23; Rargarot M 4 Honry H. Ball, 18; J. M, (ilnnlngh:lllxg?g";?‘.\ga: F. Brounor, 28; Biciinel McDonough, 40 5 Hone Sonfried, 40; Jno, McGuite, 43.' Thy 0dd ollows’ FUNDS ARE EXIIAVBTZD, nd to-night thoy fasuo tho followity appol : the Tosllu {. 0. 0.'F, Lodges throughou United Tho funds of the 1. O, O, F, Lodges - susted. 'Wo nced money fo nullt.fi!{crxl':;o brethiron, Holp uaif you can, @, W. L, Cnoox, ‘Vico-President I, 0, 0. F. Relief Gomunitteo, W, I, Lovavox, Secrotary, 'This order have fully 85 or 40 mombers sick with the fevor to-night, and have regular nurses but for 14, the brothors supplying tho wants of tho romainder. The Masonic order have 15 sick, which thoy aro pmxidlng 1 ‘lnr, t,:ml burybl‘rom ono to two nily. As yot they have not been compelled to aslc aid fro sbrond, 6 Twouly fomale nuraes left Now Orloans toe night for this city. THE LAW AS OPPOBED TO MERCY, Theo city way somowhat startled this aftornoon by the announcemont that Judge Flippin, of the Qriminal Court, who {8 now in Brownsvilie, had fesued an injunction rostraining the Mayor and the Howard Rolief Association from continuing to use tho hulldmg recontly rentod by tho How~ ards, and located on Promouado stroct, in the midst of tho infected distriot, nas an infrmary lougor than to-dny. Tho injunction nleo ftorbids tho occupation of any building in the city limitans an infirmary. - The action of the Judge, at this critica]l moment, when hundreds are down with the fover an hiave no place except the infirmary to bo earried to, is soverely criticised by the public. The papers in the morning will censuro him soverely. ‘fhe Mayor and Howards will pay no attontion ta tho writ, however, and tho latter will continua thelr work as usual, nobwithstanding tho throats mado to burn the building down. ‘Thore are in it to-night 89 cnsos, and o dozou more are ready to be carriod there, TIE HOWARDS ANE OUT OF MONEY TO-NIGHT, but hopo to be provided to-morrow—thanks ta tho liberality of a number of business firma of oulaville, Cincinnatl, Clicago, St. Louis, and other citics, who have tolegraphod donations,— that from tho Board of Trade at Chicago being $1,000.—tho total amounting to porhans §5,000, ‘This amount will lnat throe or four days, and tho City Govornment may adopt measures to- morrow to obtain further funds by the dis- position of ity paper. The saffering in the meantime will bo intense, and wo must still look to other cities for assistance, [7o the Asociated Press.) Mesteius, Tonn,, Oct. 8—T'wenty-one yellow fovor intermonts to-day, | ‘The Odd Fellows aro troating twenty-four yol- low fover pationts, and have lost eight. Tho hiaye exhaustad thoir sul)ply of funds, and -asl help from the Odd I'ellow lodgos throughout tho country. The Bt. Androw's Society also enrnestly appeal to their brethren elsewhoro for Eauumnry aid in nursing their sick, They have ad govoral doaths. In rosponso to the appeal of the Citizens' Exocutive Committeo, contribu~ tions began coming frooly by tolegruph orders to-day, THE DISEASE AT SIUREVEPORT, Special Dispatch to The Chicago Tribune, Mesris, Tonn., Oct, 8,—A lotter from Bhreveport, rocoivad to-day, and dated tho 28l ult,, seys: “Tho fovor still holds its doathly grip_on us in_epito of all that medical scionco cou do for us. 1f such a thing be possible, it is tightening its grasp. We tuought somo daya ago that protty nemly all tho material to worlk on was oxhausted, but we continually hear ot now cases in the hoart of the city, whila the dis- cnso shows no disposition to curtail its encronch- ment on the outskirts of tho city, or to treat its victims any mildor, Thera {8 also considorabla sicknoss among tho season- ed nurses, butin most instauces tue fever is light aud tho pationt soon recovers, Their oxhaus- tion aud the inhaliug of tho poisonous air of the siok rooms is no doubt tho cause of their being attacked,” New Onieaxs, Oct, 3,—T'wo Catholic priests, the Revs. Frorie and Dufour, of the Society of Josus, loft to-day for Bhreveport. W'wenty fo- male nurses left for Momphis this evening, sont by the Howard Association, in chargo of Alr, F. R. Southmayd, By order of Prosidont Grant, 5,000 army ra- tious will bo shipped to Shroveport to-morrow for the bonolit of tho sufforers. The Picayunc's special from Shrevoport says : The intermonta to-day wora ninotoen, all but two trom yollow fover. - Five wara childron, and two colored porsons, Alf Bavillo, telograph manager, who came loro from Mewmphis & fow weoks ago, is daugerously ill. Intormonts to-dwy: Jolm D, Chillis, 18; Obarles Miller, 203 JYohn I, Walker, 27; Charles Nool, 42; E, Zon, 26; Emile Gorsbnek, ZZi Mrs. M, F. Gill, 28; Johu Verlson, 24; William Doudy, 21; Thomas Hazzard, 23; . William- son, 11 months; Willie Ward, 11 monthe; J. Emma Curtis, 10; Joseph N. Curtis, 8; Miss Loo Bimms, 165 Gaotus Batollha, 81, - Special Dispatch to T'ae Chicago Pridune, CAINQ COURTA ADJOURNED, 8prixariELy, 111, Oct, 8.—1Tho sesslon of the Unitod Btatos District Court, which was to have boen held in Cairo noxt weol, hns beon postpon- €d for the present, on account of the Ymvnlunna of the yollow fever, it is unid, which will provent the attendanco of parties to suits and tho wit- nosyes, : QOaino, Iil., Oct. 8.—Judge Dross, of this cltl{ Grand Mastor of the Indopendent Order of 0dd Follows of this Btato, this day issuod a eall on all lodges in Illinois for contributions to nsuist tho suffering brothron iu tho Southorn Btiates. Past-Grand MastorJ, Ward Lllig and Pust-Grand L. B. Bherman, of Chicago, and LPast-Grand A, B, 8afford, of finim, havo boon appointed a com-~ mittae, ta whom contributions muy bo sont, and who aro instructed to distribute tho same for the reliof of tho Southern paople, New Yonk, Oct, 8.—At the {nspootion of tho uarantine statious to-day by Gov. Dix, the aunmutlnn Commissionors aud & largo number of mombora of the press and roprosoutatives of the shipping intorosts it wasstated by thoe Loealth- Ofloor, Vandorpool, {hnt the yollow fovor hiad oxiutod at the tha lower quarantino station at all timos from the 1st of Juno to the 1t of Octobor. Tho total numbor of oasos was 64 ; doaths, 13, {ty of tho dis- oago had boon withheld from tho press to pro- vent alarmists injuring the commerse of tho {mrt.—tlm hiealth officors consldering, so long aa ho disenso lmnnrlm\tmmlorulgiu portd was kopt in tho lawer bay, and provented from outorlng tho oity, it was unwise to noodlgasly alarm tho ublio, S Moxtaowery, Als, Oot.8.—Ono denth from yollow fover, aud somo now oasos eported tos