Chicago Daily Tribune Newspaper, August 6, 1877, Page 2

2 Ene THE CHICAGO TRIBUNE: MONDAY, AUGUST 6, 1877... the course of mang years bas evattered the frost of thine, i IN THE COMPANY'S SWORN STATEMENT, Anted Dee. 51, 157, the Viabiiities fur losses sane an Lunpatd,” “In process of adjustment, or adiueted and not die. and! resisted by the between manand man; they looked upon the whlow and the ozphan ae leettimate vlunder; they were deaf to cvers appeal of humanity; they had no more charity than # Bashi-Bazauk, and robbed the crave te swindle the hving. IN THR QUO WARRANTO PROCEEDINGS ing. tf " eg. | Company,” were set down nt 251,64. . Thts ts ae He ie a fewomn statement acd is therefore presumably ah astcesment forthe death of one C. Kale, tn | correct. | But, on the fd of | dune of February, 1476, ‘The lors was reported: this year, se enene from ' ee reper Kale, Chtearo, Ii, policy 11,114, tor $3,000, | Of Mai. Woods, = the | total, sabilttcs Proofs have ‘been, filed of | death by | for death losses amounted to $312,000, being hillous fever, and sworn to hy | £291,000 higher than the fivo montns previous. Now, cither there has been extraordinary mor-. tality einee the Ist of danuary, or there was some mistake in the figures of the sworn statc- ment of the Stat of December. These teath lor of £211,000 mean about 150 deaths at tho Jowest figure, which would seem to indicate reat lack of Judginent on the part of the med- fal examiners of the Company. It seems strange, algo, that this (nconaletency between the Decemberand fave figures should not have atritvk May. Woods, and have caused bim, and after tin the Aulitor, to have imade a more thorough examination Into this subject. THE VHILLIPS WILL. On the 9tb of duly s Lill was filed {a the Cir- cult Court bya man by the name of Phillips. who alfoges Unt the officers of the Company hal aquandered about $50,000, and had $50,000 inore on hand which belonged to the stockhold- ers, but which would be squandered unless steps were taken to prevent it. MMe therefore asked for the appointment of a Receiver to dl- vide this money ito rata among the stockhold> era, nnd for Me granting of an infunetion to B, Kole, HW. Lenden, M. D,, attending physi- clan, F. Eames, undertaker, and T. Mort on, Yrlen, before 8, Hale, Notary Public, all of Chicago, 1! No such puiyaician has ever prac ticed In this city} no such person as 8. Hate was evera Notary Public In’ this State; and the Board of Health books shows that no suck per- ran as C. Kale ever died in Chicago, The City Direstory newhece mentions the names of the partics mentioned in the asecssment. ft Is al- cued that the assessment was made for the death Joss of Peter McCabe, of O-bkosh, Wis, who was insured for 8,00, The Company re fused to pay the claink though It approved the punts of loss, The assessment. aftef having heen collected, was tiveriet to the usc of Ed- wards & Co, Indanuary of the same year, an assessinenton a polly for $5,000 was made on the allewed death of J. Lober, of this city, No euch opercan ever @ied here, and” none of the parties purporting to establish the loss were ever resitents uf this city. The assess: nient was, {n fact. made for the death loss of, John Seder, of Zanesgilte, O. The Company refused to pay the claln, -alleging that the | festrain the officers from paying out any a ds i iY - | money, The motion was act’ for no bear- policy had lapsed, and kept the money, An: athe ON et Eee Berne other apeciinen brick is the votlectios of an ag- Sais) tezament Cor the supposed death of F. Golden- ‘a hua ever been done with ft. It ils alleged that f A i Philips ts a myth, and that this bill was gotten byob are, Ae tt a aed eee wraty AY {up bythe catlers to gaise them a pretext {or ct pee :. Ky.. policy 610s yng aut any money. Since the 1th of f 4 iy ech yas poliey Git Ht Sault Hee “ave not disbursed a cent, claiming that i9-710; A. stohl, Columbus, O., 3H. Bertram, Columbus; Q.. policy eur. policy 1, they have been enjuined from doing so, Neith- er death-logses nor ordinary expenses have been paid, but atthe same tind they have not al- stained from taking in money fram new policies, os from making assessments to pay for death- JOBS. 1,40, ore alt tetitious and fraudulent, no such persons having ever existed in the places named. Another cheerful: system was the refusal to whatever, and then fore a proceedings were bape The pay any losse: compromise when legal threatenci. Jolin Henny held poll: for S300, He ded in April, 187 C:mpany refused te pay. A compro U3.4rwasa seer upon. [1 September, Conpany thaie a Cull assessment ont Perel ‘te way the Henny loss, Fort hurdred dollars were thus transferred to tne pockets ot the managers, The claim of tho heirs of Elizabeth) Parker, Mey 3,071 for WOODS’ REPORT. LAST MAY AUDITOR NEEDLES ordered the usual anmital examination of the condition of the Protection. Robert M. Woods, the Examiner, was Instructed to make au inves- Ufeation. He didso, and the following fs tho reanit of hig whitewashing operation, as told £5,000, was settled for £5,500, The full sates | ty hits report to the Auditor ment was, however, made, F. W. Fisher's | {ls rep epics ide pole, Baa tor S000, waa contested, A eaIne | yeu” Pile aecounles Springfield promise for $1,500 was agreed upon, The policy-holding menivership was calicd on to pay the (ull amount of the policy. Edwards ds Co., it is alleged, kept or squandered the alffer- ene. Inthe quo warranto proceedings, dozens of sinlar instances are cited, all ging to prove, if true, thal u systematle scheme of rubbery at perjury was inaugurated by Edwards ond Refd, and was run with clock-like recularity. CANRYING FORWAID DEATHS. According to the ortginal method of doing business, 0 man.taking out a new polley In the Protection was liable for assessment only for the deaths happening after the iasuance of his policy, Aman taking out a policy in April wus uot fabie for death losses in March. ‘Those Sim: Phave the honor to report that, In pursuance with your instructions, | haye made an examina- Hon of the condition and affairs of the Protection Life-Insurance Company of Chicago, In connection with Col. Josiah IL Kellogg, Actuary, and John d, Briukerbio, Accountant of the Department. ‘The examinstion occupied thirty-twodaye’ actial work, und has bven thorogh and exhaustive, a4 1 found It expedient to examine many detalts from the organization of tha Company to the date of ex- amination. ‘The items of aesets were examined in detait. New valuations were obtained. by me on all items of real estate owned or covered by morigaxe. These valuations were made by the lion, George M. Hogue, of Chicave; Kdwin 8. Mason, Eaq., of dotietsand J, E. Leonard, Enq., of Pekin, and only were Hable. who were members in March. But it happened that, while there were frequent additions to the number of polley-holders, ehow a great decr In valne of reabestate etnce a7? and i873, when most of the load were made. ‘A careful eerlituin valuation was made of all the policy Habllities af the Company, tn the determina. there were many lapses, and while there might | tion.of which, and in fixing the amount of liability have been 3,000 policy-holders in March and ag | for death lowes under tho different varieties of mayiy in April, yet the assessments for a death i} Meles, the Hon. Emerson W. Peet, Actuary of Joss oceurring” in March could be made only | to Insurance Departinent of Pennsylvania, wos upon 6,000 or 7,000 policy-holders. It fs allegei consulted, and the conclusiong hereln reached tn inthe illtiled in the Te warranto proceedines, eu ty these matters are concurred In by that aud alno in that of the Gooding ease, that, inorder | "Tie" following ts n schedule of all the axsete and to retrieve the broken fortunes of tho Company | fisbdittes of the Company, hown by the books and get more money, the new management be- | of the Company and as qllowed by tho Examiner: gan e policy uf dating forward the deaths. ‘So, ASSETR. for insta &, where a inan died fa March bo was Shaan by -Alleaked BY stated to have died in May, Examiner, 625 holders of that date wer and all the potiey- avraed to make good Reat estate owned, Loans secured ¢y 1 the policy. Hy this means all the policy-holdera, | Buus unt s ve’ owned, frres,cctive of the time when they fotued, wera {| bean accured 9 con made to contribute for all death losses, no mats | Gast in fer when they Iappened, It is further alleged | Fremlun wf that, tu order to ite this device, the Conpans, | _fec rats on the fet o date of dea the habit January, 1575, quit’ publishing the | Gross deferred pres je whielt ft had always been Sn of giving jn prior years. So that it became Impossible fag a potley-holder avant to Cechie for himself whether he was of was.r10t bei} Mable cor an asorssment. It ts alleged that in ely ec nls of policy-helders were mado $503,601 $272,730 nents for which they were nob ree Ha le, utel tisat larce gums of inouey were thus {mproperty obtuine. and never used. for the . esto nich they should lave been des Tb the uesessment notice for Dee. 4, 1874, 0 Acliberate faut or stent overstiht i, uantteat, iinniation Assessment bis fuy the death of fa Ly Deke Fe 7 guson, of Nex un, vel policy 0512, for 85.000. ber tear Jurses due ald 7050 8 49,780 The dete of couth fs wlven na Noy. | Of Noe 21 The umber’ of inembershiy athe | gfteigdand nat dues. SRI! BET, for dssus-mo.nt on that cated} was 5,4d, 5.000 The truta ment was made up tn $28 the Comyany's of wut Nuv. WW, was piven ae Yah) tu the prater a few days Liter, tho printed | Net presen: val tt conica veturned about Dees Vy and then uated. | “percent abtumrios’ tables.evsvssse. 118707 How it tue astute manavers know on Nov. 1 214,708 or thewnbonts that 1. Lb, Dickerson, of Marion, G Ky. Ret aurplus..eer sane tene: att die of inflammation of the stomach aud Lewels on Noy, 2, nearly two weeks taver! Did the Protection Life cmoluy the services of aclalrvoyant) = Wos there ever vps such personas L. 1, Dickerson, of Marion, Ky.t Had there bee and hut he dled on Nov, 24, a3 alleced, tt would: have been trapo sible tor the Caupany to have secure ed and ex.anine. the proais and adjusted the Joss Int for the circular of Dee, 4, even ff that document were not ready for the printer's hand, nut De 1. THE Theofiicers and employes of the Company af- forted your Examiner every facility saked fur in {he progress os the work, nnd { have tosay that the books und accounte of the Company ure properly ,| kept, and exhibit definitely and plainly gil the digerent recou Ry 1 hand you herewith schedulea showing the amount of death losees paid, and ainounts received front areexatients, teatorations, etc., ninco thy ore ganization of tne Company, the standing of the Commercial League and other contingent erganiza- Uons, amount of policies In force, etc,, and coms plete echedules of olf asyets gud Mavili Vory Feapectfuly, Rongnu M, Woonvs, Examiher, in order to astertain how thoroughly Exant- ner Woods made bis inyestigation in the inter- ¢at of the policy-holders and the public, it ts necessary to give bis statement an overbaullog, and fyr this purpose Tae Trisune will CONSIVEH EACH ITBM THEREIN SERIATIM 2 (1) Beal eatate owned by the Company. Tho Company vuluauion fs 822,015, Allowed by the Examiner at $15,025, ‘This is in all probability uw fatr eetimate: (2) Luana secured by mortgages, Company yoluation, $149,000, Mr, Woods ustimates thein at $107, 100, and allows the asset at tuat amount, ‘This ia altogetuer wrong. The Insurance law expreaaly provides that all real eetaty aball bo worth twice the winount luaued upon it. Hence the tein ought tu be cut down 50 per cent, tnuking it €53,600." Tho assesainent of these Jaunia for taxation fs below 25,000. (3) Bonds and atucks owneg—Carlinville N. wtock, 810,000; United Statts bona, $1,245, (4) Loans secured by collaterals, uccepted us worth, and probably »0, $10,141.74. . (3) Cush in Company's ollice, por books of the Cumpany, $23,%02.00; allawed by Moej. UL. Here ts @ discrepancy of atiauld uot exist, und docs nut uch a pereon, NUAL REPORTS fe tin:tle coutelhutions to In huratee Tee! The sworn statement of tho Company oF ee Bl, ALT, wives the capital 4 aut $200,000 “paid-up dn cash?” L. 2. Hiftiard, the President of the concern, testiiles to the truth of this assertion Jn the balance-sheet which be made tu the State Auditor, in compll- ance with the statute theretute provided. Tho readers of “Pun ‘Thipons ute familiar with the relent suit uf Osgood v4. The Vrotection, in which be sues to Lave transferretl to hit ome stozk tn the Company, which he purchased from sue Wiliam, “Phe Company eet up the de- fense that the stock was paid forby chek; that the che -& ubsequently withtrawn and a ‘en in its place; thar the mort- Zage was vaturlesa, and the stock wae caneled. To establish tis defense President Hilliard wis called Co the stand, and ¢he followmg exainiua- tion was held —What Is your given na: Dal ". Hititennion oe ne Q. How re you one of the officer Protection Life-Inaurauce Company? A.—Four yearef think [have oven President. Q.—boe you know what. A Willisuws stock: A.—I have kuown emnething about ft. Q.—Who was that stock aubscribed by? A.— of the Com acy A, Williaa. ue tena v—-Now, Mr. {iilliard, af the same thne, jus a dtatemion’ that the andar thot Hine that Sony A. Witton tak saat “books und accounts uf tho Company are prop- subsrrlicd for, yon sub eribed for certain stick ia | erly Kept" Bix thowsaud dollars fs tuo lange that corporation, did you nut! Av—Yes, air, £ | an item tu be floating around louse in any dnan- ugreca to take a cortato umount. cla! establishment, Even the lothachitds would Q-—What was gion oy yourself for that stock— how was it arranged between yourself and the Coin- pany that wat rtock elianld be paid sor: Ubjected to for the reason thut It appears hy the papers fled iu ppringdeld that Mr. Hiillard’s atock wua pald fur lu cash, and St was 60 sworn to Ly the officers of the Company, ‘Objection overruled, A. it the me of the formation of the Company there wus @ question about how the stock should be pald in. {twas @ question whether we could put vur eecurtiles directly in, or whether we had gol to pay the money, , That wae & point we bad not permit tt (6) Cash in bauk, $39,741.00. Did Maj. Woods exuming into this hem? fue TRacxH doubts very much te correctness, Cor ftletitious bank credits were once nO ULCOINEN thing to the Protection Life about thy tine it becuines neces- sary toumke watatement, Hawaver, in the ab- vuce at wny prual to the contrary, Tus TRB Unw wall allow the item, (7) * Premiums in course of collection, siuce paid.” ‘Tux THipese fs ut ao utter loss to under- tand thle item, Paid vluce wheut If pald, how uuter djscurvlon rune time, and the attorneys a az 7 i Evally thougit, as the law read, we bad better ive | sould they be “tttuaaig hung, “tere " Q. te what you did} A.—We were all togive | af NO pretlumas there never were, ‘Tho Cou- gure che forghe amount of stock we took. mse any chartce i for a $2,300 and $13 for a Mr. Tripp Q. =} hen you gave yoprcheck—when, you subscribed for the stock and gate your check" What was dong with check, and what did you dy aflerwarda? ‘The Trearures was to take the check and bold jt until uur securities were ace erpte %. vnat wecunities were thoy? A.—1_ gave, su curity ou a certain Jot, and when they accepted m tec.fatien they gave mo back iny checks Y } ail in fore) unpuil-for Duating ground thy coun Was that cueck ever intended to be paid? | try. Tus PuiscNe caunot adinit the Item. A e uuderstauding was thut the Treasurer was 4d) “Grogs vretulums due, 83,714. tu Luld that cl deierred prembutne,’? 627 048, (4 What wiven for this Marv A. Willlame | 51; deduct Iuadlng, 84,$1425—82 22." Chis stick that was subscribed to the uuoantol twenty | jreyn is ula a buubug, and bs a inild attemps to vid thoiaund dodare? A. —Same As the reat of us. | duplicate the {tem fuimediately preceding, It (j,—Now, was there actually any money at all | WUD! iT ohoukd nor bellowed ee ald for thls Mary A. Williaioy stock by Air. ur | Cavuot aud should uot be allows dir, Williame, of any one for them? Av—Nota | i) ,, Pretitaie me Tine, ia ai eaot otlar. ; (| —Are you acquainted with the property de- | wnaznidceut propurtions. The Cumnpany values ¥ these at FW S214, ‘This uotu dn gives by the scribed tn these muruges? A.— Yes, Q. —W hut te the coudstion of thst property? Tell | policy-dulder on recetpt of the policy, od its winuunt is regulated iu accordancy with the age the jury where it te located and how It ts located. | A, —It la between the Caiumnet Laxe—on wp outlet | uf the jueured. Jt ly couditionally payable on demaud with intercat ab 4}¢ per cent, aud la oof the Coluuiet Lane rauning Inte the Calumet pa nepal ween Chittenden bridve and the | Gity tn force fur one year, Which Is the lifetiine of the policy, It reads we follows: - Coluwer'Late. ‘That te known peey, well among Curcauy, Ml, ——187.—For value received huoters. Jt is a gevat place fur bunting. This pies waere the lotea are Jucated is Just weet of the 1 promise to pay tu tor urder of the Protection Life Jnsurance Company uf Cuicugo, on demand, olel--Chittenden a Hotel--withio ball mite, t ‘he doliara, with an wddeu amount cqual to 4%, per wbvuld thiek, over towards Calumet Lake. uucdera of the luke in that nelyiborhuud are sub- cent. per sbnum: this nute being for advunce uilum payment on policy No, — of ald Cow: Kierged moat of the year, and, J yuews. entirely ofl on wy ite, foe one year fruuy the date beteul, the year Jn fect, and it grows up with wiid Ff and subject to all the cuuditions and ements of 1,250 pultcy, Which is pald veture the polley is given up by the Company or iteageut. Estl- Inating that the wyeraye cost of eac! policy Is $15, thia (rem of $35,000 would cov SES pull cles; aud it bs perseetly ridicuious to imaxine furaue qomeut that the Protection had on June 3 that uumvber of policies (over one-tfth of A= ce, and rusher, aud'oue ging and Bnotber, 00 Yoo can hardly get threlfzns le a . Q.—What at that tlie was the value really of | sald policy, Payable at the Company’ ‘ toni property? A Tdon't think itbadeay value | Chicago te uaeys oes uniers fur duck-nonting, Gabing, of catching | dul sinount and tutercat are a licu aualust anid frogs, or something of tbat kind. It was under | policy: provided this tote te not surrendered ur Walcr the most of Ik ganceled by the dividvuds declared by the Com: HOW Mi. HILLIARD CAN SWEAB panyon sald policy, agreeable ju the couditious aud agreements of (alr policy, au on the reveree uf this note, On the reverse of the note, among others, ts the following iudersemeuts ip Coss any dcweud made for any part of tho * ty the Auditor thut the capital etock of the Pro- Lectivu bo $200, paid-up io cash,” gud thea testify betuse bly ‘ult Court that it was uot, Tum Tasca leaves bitn to settle with his owa couovieuce, - He fs un uld mau, vter whose bead tothe conditivns & ‘ within note inthe form of © monthiy asecesment by sald Company is not full paid ‘at the homo ‘office of the Company within the time named in auch notice of ascesement, then and in all ench caces ald policy shall become nail and vold. and of no effect, antno personal hall be entitled to damages of tne te wery of any moners patd thereuns yet the within note shall be holden for the unpaid oxesament. and all costs, damages, and expenses incident to Its coliection. IF THE POLICY-HOLDER WISHED TO DISCONTINUE Nainsurance he was allowed the privilege of doing so by paying oll_assessments, ete., duo the Ohfo Life, th Safety Deposit, the Natfonal, the North Canilida Mutual, the Popular, the Eclectic, an tao Southern Mutual, .are bat a few Inatances of tne inefictency orcorruption of the State Insurance Depart- mente. The Department of Ihnols allowed tho National to run on in its swindling career watil {t fell to pieces. of its own rottenness. It ale lowed the Chicago Life to continue In existence until it had been bled of all its assets, and [tis not, therefore, perhaps xo surprising that it should allow the Protectton to continue todo comes due to the bondholders F Why always Inthe Sehate has he so valiantly defended this feature of the lawt Why now, with autocratic firmness, and yet with al! the well-known peentlaritics of a Sherman, he phins, and foreshadows, and works, and buys and eells, with a fall view and refer- ence to the one thing—resuniptiont Resumption, whether with resumption come Weal or ruin, at ostch time. Then the Company | business after the showing mado by the extraor- Resumption In gold, Ict us have tho gold or canceled his polley and note, the wn- | ainary report of Mal, Woods. It now re- | not. consumed art of =the $ latter being | mainaonly for Maj. Woods snd Mr. Actuary Restmption, no matter how small the pro- 4he “surrender valuc of the policy.” The “dividend on the policy’ mentioned tn the note is that {ndefinable amount of the note not consumed in the payment of all assessments {mposed during its life. These premlum notes ore acererated by the Company at 3 probabl % thetr face value and accrued Interest. Maj. Woods accepted them ‘as being sworth $05,090, which is thofr probable contingent worth on the basis of general average. It is true that the legal liability thereon is only for one assessinent, whichis some $5; but previous tothe enforcement of the collection of this ambunt the policy, represented by the note, Kellogg to explain in detail by what process of flguring they arrived nt the conclusion they did; how far they have verified the tigures given them by the Company; how far they reconciled their admissions of ‘tne valuations of real estute with the law upon the subject; how far they satisfled themselves as to the amount of “gross deferred premiums?! outstanding; and above all for what reason they allowed the fund at Springfield to be gutted’ of fits most valuable securith s. IT IS NEARLY TWO YEARS since the first eerlous assault on the Protection began. It nas been followed up by the Ming of portiun of the one precious metal may bo to the Beneral and special debts of the land. - Resumption at all hazards, so that the ercdit of the Nation nay ‘he preserved with the Shy- locks of the carth, and their {co of $500,000 bo won by, aml duly distributed among, thelr faithful servants. One of the greatest fallacles any nition, es- fens the peonle of the United States, can jabor under, Is, that a mitre, # crosier, a crown, B seeptre, of even a chair In the Cabinet, can change a man’s nature, or keep him proof against pecuulary temptations. This being sv, why should not the universal wauld hare lapsed. As the inpses bad not | bills containing accusations of tho most | voice of this great people, the complety suspen equaled the new business, the Major felt justi. | damning — character—the Gooding, the | sfon of all {inluatrics, and the starvation and fied In assuming that asinilar proportion of | Osgood, and the quo ~ warranto bills. | desperation cousequent upon it, be as potent to the notes we remain in force, (10) Advances on death-losses, This item ts probably correct. The death-losses were very heavy. Tho Company was hard tp, and the elatitants under the policies were clamorous for settlement. ‘They were stayed off from time to time, and it ts reasonable to suppose that out of the gross amount due, the Cunipaly paid as in- stallments the sum with which ft Is credited,— (1!) Interest due and accrucd. The Exam- Incr svased this from $14,065.32,10 $8,220.57. (12) The {tems not admitted aguregate $43,- 292, in which are Included bills received, $13,330, and agents’ balances, $7,002, which are lncx- yllcable, but yery conyenlent, LOSSES. (13) Now come the abilities, And hero ts one of the most remarkable specimens of the gymnaatics of figures ever scen. Losses duc und unpall, adjusted and not duc, unadjusted, and resisted ugeregate as per policies &312.500, The Company’ figures the Inability at $73,500, andthe Examiner estimates them at $120, and so charges them up, iow a debt o! $55,750 acknowledged due can be dgured at $19,700, and how an adjusted debt of cA erd though not duc, can be coolly set down ai $89,750, pasacth all human understanding, [fa man owes a note of $100, he Is not apt tosay that he owes $50. On the #74,000 of resisted losses the Company only claims a Hability of determine what wo need as tl Shermant CU do not say that John Sherman hos been working under pay, but I do say—and I want It to be understood in Its fullest acnse—that we need no such guardian as he fs, and we do need that ourinterestsshould not be lodgetl or confided. in one man, Who may be thus assailed by temp- tatfons which men as coud 93; if not betterthan, John Sherman haye failed to resist. . ‘This country extends over too great an area, and its interests are too diverse, ty bo compres hended or appreelated by any ove man; and hence Its Mnanclat policy showld vot be tdeter- mined by that one man's mind or preconceived or interested view! The President seems to be the man to whom now we can most Properly appeal; and hence wo must say that, {the will look at this feature of our public policy with the samme disinterested, consistent, and defensible investigation that ho has used in other matters, he will come to, tho conclusion that the Natio will be best served by his official — decapl- tation of Mr. Sherman, if novessary, rather pan by his ytelding to the feeling of deferency r of thankfulnessto him for having placed him {n the path to the Prestdency. This last remark {s entirely needless. Mr. Hayes has shown himeclf yery strong and hon- est, and Iknow that, as a people, we need only socak and we will be heard. Therctore, let us | The Insurance Department has reud in the e mind of John apers how the Company was chargtd with hav- Ing wirered policies, with sesessments, for fraudulent death losees, aud with putting for- wurd the datcs of those losses, and also read the sworn testimony of the President of the Company that the stock, which he liad prev; {ously swore sras paid up, was gever pald for nt al. “Yet, with all these accusations, spreat upon the files of the courts and the pages of the newspapers, tt remalns Inactive and inert, doing nothing except jraring a patched-up re- ort, and supplementing tt tinalty, aiter it saw he jompany ‘was reaching the end of {ts term. with 5 bill’ to test the legality of the tssue o these wagering pollster, a bill which ought to baye been filed three and a half years ago. ——— LEGAL PROCEEDINGS, THOSE WAGERING POLICIES. Speciat Dispatch to The Tribune, Spaixoriz.y, Il., Aug. 5—-It Is reported here on good authority that the Auditor has di- rected his attorney at Chicago to begin suit against the Protection Lifc-Insurance Company, tocompel itto ehow whether it has not been doing business in a manner contrary to tho laws of the State. This action Is based on a portion of the report of Maj, Woods, of the Insurance Department, who, mouth before last, nade an $7,500, bnt Maj. Woods was satisfed to call it speak. Seb withort wetting for. the courte to de. | cxamination of tho Protection. fa}. Woods in | ""T'may here add that this comes from ono who termino the Mabtlity (14 and 15), acceptances, ond personal accounts—sums due by the Com- pany for borrowed money, supplics, etc. VALUE OF POLICIES, (16) Net present value of policles at 4 per cont actuaries’ tables, This {tem-ts set down at his report found the assets perfectly satisfac- tory, and showed that there was a clear surplus of over $100,000 above liabilitics. But he also found and reported certain facts fo regard to some trust associations fn cast is first Prosidential vote for Mr. Clay, in 1814, but who since 1860 has been unable to cant a vote, finding no party with which to go, The suppression of the Rebellion met swith my bear- ty support, but the ultra views of both parties have left me to take vonfort from what seemed rh There arc vat ut premiuea note the State of Ohlo. It appears that the | to mae to be te little good tn enh alde. Myiap- alicl covering a ey tal of! 7. rt u! i proval of Mr, Hayes’ nutional views of our The present value of wh ch fe $05,030. "The vo Beto bg Fa ae es ial 38 palletes irl a ‘duty under the Constitution as {t ts, fs enough to show that I fee] with him, thot “He serves ils party beat who serves nis country beat.” 1873, except two for #2,500 cach, {asued in Janu ary, 1873, Tero have been eighteen deaths atheo the organization, amounting to 870,453, The Columbus Trust hag tssucd 143 policies, in- volving o risk of $701,250. ‘The last policy was issued in October, 1874, Eleven death losses, amounting to $50,048, huve been pald this trust. The Middleport Trust varried ninety policies, operative policies number 6,005, insuring $%6,- $60,000, with a present value of $50,101, It oc curs to Tug Trinuns that the net value, of re- insured reserve, is altogether too low. The tection Insured Hves onthe year plan. {t was ractivally the eamo ayetery as that pursued b Tire-insurance companies, The riska were grad- ed according toage., The older policy-holders ————_— A BAD PROPOSITION. To the Editor of The Tribune, Bristor, Ill, Aug. &—In Tus Weexir Tninvne of Aug. 11 notice, under the heading were obliged to pay more than the younger 75 4 for the reason T atat tho haan was pales South egntiog cee joa Bye ba of “The Conflsvation of Real Eatute,” an abla greater, It igtrue that on many of the Pro- | pomeruy Trust carricd soventy-clzht policies, | article on this subject. After discussing at tection polley-holders the Jezal lability was only 2&1, on cach. Nevertheless the Company sold them on the basis of being worth $1,250, $2,500, or $5,000; collected the pro rata Initiation Ice, and when making assessments to ay death losses figured the pro rata on the face amount of the policy,—not on the Corn- pany’s lability of 81,000,—according to the aga of the holder, Tho moral lability exists fur the face of all the policies issied by the Com- pany. The policy-hotders, os a rule, have been yerv prompt in paying their asscsamenta. tween May, 18¢l, and April, 1877, there wero Sil deaths among the policy-holders. Tho as- involving $390, the Isst one haying been {s+ sued January, 1874. Threodcath lusses, amount- ing to $15,000, were patd to this trust. These associations, according (0 Maj, Woods’ report, were formed under the managemcut of Charles J. Hess, who was at that tiue man- ager of the busincesa of tho Protection Life-In- surance Company for the State of Oblo, und, - alter the dissolution of bis connection with the Company, tere taxen up by the Company, and ore now carried by ft. [t Is claimed by the Company thut thie polfcles covered by thera trusts wero regularly issued on tho usual appll- length the Resumption act of 1873, and its fail- ure to restore confidence and greater busincss- Prosperity to our country, you speak of the many mortgages resting on tho rcal estate of this country, of the depressed condition of real estate, and that there fs a purposo In it, * that the value of money has been so enhanced that, unless there bo achange in tho downward ten- dency of this spectes of property, much of it will pass into the hands of tho money-lenders, aud there will boa landed monopoly in the United pol seeoments ageremated, $250,410, “and tho | cgtloua and. ee ee th cena | States, thesame as iu other countries.” This, responses thereto footed up $2,183000— } fetween tho assured and tho Associatitnls that | YOU Say, must not be, and that it should be only a shade, abovo 6 per cent hav. | ‘the ussured shall pay a tembership fee of $10 | averted, and can only be averted, by act of Con- ing dofatlted. The ‘premium note” policies are full guaranteed, though the Company al- ways expected to mect all Josses by levying as- sesements on the premium notes, The co-onc- rative policies were also tinct by asacssinents. ‘The mere fact of the giving of the note by tho polley-holder was no additional security, In fact, the note acheme was an invention ta com- ly with the law which requires as a reservo Fana the present value of the policies on the basisof 4percentinterest. This the Protec- tlon did not have under the co-operative plan} and though no additfonal security was obtaiue: —for of what value is arcaisted ‘claiin for one nssessinent of $5 when tholezal oxpenses of col- teeting would be five times the amounti—it satiaticd the loose systein of State supervision, pleased tho wanauera of the Company, and add- ed one note to the almost unfathomable mys- teries of life insurance. ‘To properly egtimute the present value of the pollcles of the Protection. It will bo necessary to apply the rule which obtains among fre ingur- aneo companics,—that fa, eatimate tho reserve at one-half of the premium Income of the year, ‘This in 1870, if the annual statenent Is to be believed,—and {t fs not Hkely that_ that partie ular ftem was undarstuted,—was $700,530. One- half of this amount is $350,465, and_ this $s what and annual dues of $3, fn constderationof which and the reveralovary tnterest the Trust Com- pany, agrees tu keep his asacssinents paid and ay one-tenth of the proceeds to his heirs. ‘ils portion of Maj. Woods’ feport was sub- mitted to the Attornes-Uencral with the tequest that he give his opinion 9s to whether they wero wagering policies, as, if so, they are contrary to the laws of the Blute, and show that the Com- pany issuing them has tranaconded Its powers. ‘The opinion of the Attorney-General was, In substance, to the cffect that they werd. franetioe olfvica, aud that the Company, by Issulug them, had overstepped its powers, the only question being as to the possibility of clearly proving the facta tn thocasc. When Auditor Needles went up to Chicago Wednesday, ho took with him this epluton of the Attorney-General and handed It to Ms attorney at Chicago, with directions to pro- eeed under It aud flog bill calling. upon the Company to slow cause why It should continue doing business, aluca it had violated tho law. Mr edie returned from Chicago Friday inorning. It fe understood that he {s convlived that the officers of the Company, whom he saw when in Chicago, will make no resistance to the biL and that a Receiver will be appointed. and the Company go into Hquidation. «The bill will probably be Mled before same other legal pro- soculnge now pending in Chicago some up for trial, press, which should be, first, by the repcal of the Resumption act; second, the restoration of the ellver dollar to its former stauding as a full legal-tender, and provide for its Irce coinage; to whieh Cam tully agreed, and that {t can’t be re- pealed tuo soun,—thus educating the peuply to a futl realizing senge of their fnancial doom, if not speedily averted by act of Congress. Ir the prices of all personal and real prop- erty were enhanced at onco GO per cent (Wo do not seo how the prices of auch personal prop- erty as wunufactures, petroleum, snd agricul- tural products could be artiilciaily enhancea, as thelr prices arc Oxed by the world's markets, where wa sell our surplus products la exchange lor their manutactures.—Ep.}, the present threatened curreucy-famine would be averted, aud the {die men aud mouey could ba set at work, und there would be no cause for the turmoil and bloodshed of tho Inst fortnight, Tho capitalists should nove slowly in this mat- tar, and not kill the gooss laying thelr golden, cxge, tn the shape uf interest; but, as you buve sald, there Is an object [n [t, and that Is to close out the mortgages and ubtain the real vetate uf tho country at smail cost. Suppose they do. Then let them dispose of it if they can dgain, They should haye it run for thes on ebares, in tho samo manner thut much of the Ianded property and tho raltrouds are belng rug nowadays, so that jt would not py, them to hold it cvén at one-half the pric twas obtained for. Is it nut better forthe prices of all productiuus to be raised, roum fur more and greater Investments, and thus avert mora direful calamipes to their and the pcople's best interests! ‘This lugic wall apply with equal force to other countrics, ‘There ls anuther question of Interest tu the people uf this country which bas puzzled me; and that ts the sale of bouds, under the head ou: a Syndicate, at lower rates of interest than aro obtained in other transactions of busiuess in would be required to reinsure tho Protection In arized, BET SUOCULD RBAD: astullar company. Suti TUE PROTECTION BALAN: anME ee neenesannEnee THE FINANCIAL QUESTION. To the Editor of The Tribune, Cutcaco, Aug. 4.~Will you please republish the following: Inite Gnancial column the New York /ferald soye: ** Thera teaome talk sbout the financial policy of Secretary Sherman, fle fa, in this re- tl; didicuis to put a fngernpon je the Prenctinan’a flea, After making it known thatthe ‘Treasury wold vell no yold, we are suddenly informed that $1,000, 000 will be of- Real estate owned Loans and murtvag Honds and stocks ow! Collateral loans Cash on band Cash In bank... Premium notes,.. Advances on death loss lotoreatuccrucd,.. Total. and thus make Losees due and unpaid feredon Thursday, Certainly a big wig Nke a iT - 3 adjusted and not dui Gioinet oftcer may bo excused tor changing bis { Hs couutry. | Will Tite Tatsuxe plewse Ins unadjies mind, butit would bo more satisfactory to tho in is to. tl fo. bi ch .osees resisted great public, who are, av it were, bali-headed in| Saln, Js to. the peoplo by such sales Porsonal accounts... Tespect to Mnance, to ‘get wome aortaf notion aste | OF bonds? Dues it not cout the people Acceptances outstanding. A 350 | what ule pollcy of the Government ta guingto be. | Moro in all charges than 6 per cent! Reservo fund, oue-half premium income, 360,405 | If st be the intoution of Mr, Sherman to excite a [lt only costs the Government 3g of L per cent ee ele business In tho Gold-Room by playing fast | for one year to sell its ¢-per-<ccnt bonds at par, $680,104 | nnd fous with his coln-balance, he will undonbt- | und with the money it calls iy, ander Its op- ‘Total ... Capital, edly succeed; if, however, hecarcato foster the about tion, the 5-206 per cout bonds, and thereby 02,543 | Jevitimate trade of the countey upon a basis freed He = = label Bt eculation, the sooner fo shows lie tntens | s2¥es ie per eeak tin (fimy Tene, ad fas fe $775,000 | tlone the bettor.” cent thereafter on co: nd une as tho O58 St money to purchase aud cancel it, The Syndl- Now, slr, it strikes nio very forcibly that it ts time that the country at large should wake up to the fact that it is of more Importance to {teclf than Jolin Sherman is to It, And, os I desire to state, as pointedly end as concisely as possible for me to do, the hieas which the abovo extract xave rise to In my inind, you will allow me to use plain language, even If, tn sv doing, I lo strike o chord winch I know will vibrate throughout the length and breadth of thia land. The trialty of brothers Sherman make a won- deriutly harmeunions uadty in the one trait of eccentricity which pervades the family, The General, quick to think, rapid to execute, aud iupulsive to conclude and announce his conclu- aa well Know, erratic aud cecentric, 60 that, whilo al) adinire lils, talents, nove would trust him In the Presidenyy, or feel safe If he had unrestrained pawer tu wield, cate arranzeuseut fs working well, aud it would be ugainst the futeresta of the Government to disturb It.—Ep, Would it not be better for Congress to repeal the low-rate-of-interest_ gold bunds, and pass ab once a law that hereafter all bonds of indebt- edness of this country should draw 6 per cent interest, payable In éilver, gold, or the paver currency of tho country, Whether it be the Breenbdack, socalled, or the NationalBank cur- renvy, This would be, Jn eilect, making all money op a par, which would be specle-resumption at once, and which, at tho present difference between — paper and the gold monsy, would not bo disastrous to any Interest of person not sbundantly able to stand it. ‘These are advanced ideas, po dvubt; but are they not wise and judicious, and worthy ofatrialt (Mr. Gale’s proposition fo pay the interest on eer oURTT! STATE SUPERVISION, NOW, WHAT 18 THE MORAL OF TILIS BTORT? It isnot that the Protection {sa humbug, but that Btate supervision of {nsurange, us con- ducted in Dlvols, {6 a fraud and a snare, which should immediately cease to exlut. As the Do- partment Is ot present it has proven itself to be @ cover, rather than a detector, of rottenness und mismanagement, It has failed fu every Int stunce to answer the objects for which It was ercated. Ithas follSwed along In the wake of the newspapers, and has never ventured to at- tack Pcompany except whero the papers had pointed out the way, It went muddling along with. the Chicago Life until ‘Tus Tus. The Judze, Charles T. Sherman, must stand | th bonds in pane would right if boud- une {udicated to It {ta duty. = [t | on the record he made for bimecif, and whitch | holders should agree to it voluutarily. ‘To force allowed the Atlantic & Pacitle and | resulted lu bis relgacias of tis Judgestlp of | them would be repudiation, aud would destroy other fraudulent tneurance companies to con- the United States District Court at Cleveland. thous tn business untll Tue Trivoxe told it of the credit of the Nath. No public ereditor John Sherinan—so politician In every articue | wil ever voluntarily cousent to relinquish coin the weakness of thuge companies. It giluiredt lar of hits character and life—has flzurcd largely, | interest and accept {rredcemable, fluctuating, the Republe to du business for years Glter its | and never more so thanas Chalrman of the | depreciated notes. There ta oo use in propusing: fusalyenc H waa notorious, and It has nuw algnal- | Committees of Ways and Means in the Lower | St or talking avout it.—E Boards of Trade in this aud the older countrics can enhance the prices of agricultural aod all mechanical productions, making better thes, Hf they will, Is it not for the best inter- of all juurvallets, whose very su; pert, Ul not olrectly, is fudirectly obtained: trout ec labaring clasees, Whose best intercets would be served, at this timo by the payment of 25 to 15 per cent better wages and prices for the pro- ducts of labor, tu uselst with all thele weight in this laudable enterprise! It seca su to your humble faruer-correspundent. J, Si. Gace. $$$ LIQUOR IN NEW YORK, Special Mepatcd to Tre Tribune, New Yoru, Aug. 5.—The attempt of the police to-uay to enforce the Bunday Liquoriaw and close all bars resulted much as such at- tempte used tSiu Chicago. A few of the Jead- tog hotels ehut upthe bar-rooms. The majority elther sold openly or in aldc rvoms, The saloone were ostensibly closed, but the alde- door trick was aluost auiversally plaveds and yery few saloons were actually closed. ‘fhe ized itself by a report‘on the subject of the rro- tection Life-Insuranve ‘ompanys the sweetness and richneas of whlch fs fully brought out in the analysis given above. Is apy one able to explain why thy Auditor should have sllowed the Cumpaby to do business aiter be bad srud- led aver the report of his subordinate, or fs guy one able to explain why Maj. Woods and Actuary Kellogg should have dished uP such ao astounding — cumpllation of tizures fur the edification of their chicft Is any one able toexpluln how it 18 that lor years Me. Actuury Kellogg has passrd the reports which the Protection bas made! Js any one able to explain why the invonsisteucles between the report of Dec. 91, 1876, and that of June, 1977, were not noticed by the ofticers of the Tusurauce Department? dune 12, ten days after this report was made,—this report ou which the Auditor should bave closed, up the Company at once,—be allowed the ouicers of the Protection to withdraw from the securities depusited at Springtield, as required by law, the buvdred sharea of stock of the First’ Natiunal Buk of Curlnyille, which Housv of Congress, and. afterwards of Finance The in the Senate, Now, J am willing to couceds that, fn sug- sting and accurmy the nomination of Mr. Hayes for the Presidency, John Sherman “builded far more wisely than he knew; und that the broad, comprehensive, and constitu. tioual ylews of the President have really made me feel that theerao! the kind of men for whom Ibuve been tonging since the days of Weuster, scems to lave arrived; but of Mr. Sherman himself must be allowed to retain my former opinion, especially to warn thy Presi- dent that the same indorsctuent of his yeneral course su far touching national questions wi) not follow his approval of the tuancial idjosyn- erasiea of Mr. Shermun, Why should the whole Nation hang trem- biingly ou the tenterhovk of anxiety, awalting the duaucial nod of one tan, and he a wat ot the known trregularity and unrertalaly of Mr, Shermauf ler®sular aad uncertatn when uny- thing but the accomplishment of Als own pur- poses is at static. Mlogical aud erratic in his means of arrivlag at, but persistent in his efforts to reach, the withdrawal of tbls buvk telexraptuic order gf Maj. KR. M. Woods, leaves $11,725, which fs more than the Jaw requires, Uut the real vatue of the rematuing securitles— mostly wurtgages—is civen elsewhere. This stock was tho best stuff fo the beap, and yet the Auditor, at a thos when be should bave poweded against the Company to preveut its dolug busivess, allowed its officers fo Withdraw frout Its custody these securitles,— securities intrusted to nina as a saved fund for the protection of policy-bolders. ~ THIS HORKIBLE INCOMPETENCY ure worth $10,000, On the Qdof June there were | eud be has in view, ho strews bis path. with | beer-gardens made no pretense to stop selling securitics at Springtela valued at $121,723. The | wrecks; but be cuusuinmates his pia and he pay eeree wok inter! ered with. traugely stock, which was by perautially is the successlul victor, with all the NV enelits wecruing tw him, aoa none of the dem- age cousequent Upon bis course. Now, then, why nis gevotion tothe cause of Resunptlon Not now discussing the folly of the country, now or in 7%, attempting todo that which the Government saya it is physivally impqosibic for it tudo, namely: resume specie-payments, it ls pertincat for us, the Peopie, to, inquire, Why Jobu Sherman las, from the Jultiation of the topic of rcsumption, becv so strenuous an ail vucate of Itt enough, at Gilmore's Garden, where the au- thorities have been so sesulutely detled on this question, tho walters were never busier ban- ling lager and liquors. The attempt as ove of suppression was much of a fallure. WILLIAM B. OGDER, Apecia! Dispatch to Tae Tribune, w Yous, Aug, 5,—The fuucral services of tbe lato William B. Ugden will take place Mon- day afternoon from the Episcopal Church of St. would bg still worse wera it not for tho tact by the Hesumption 1 ish | James, In Fordham, efter which the remal that it is ofa Blece with what has occurred iu | and ponpating fran ibe Senate recente of | Will be intersed in Woodlawn Cemetery. other States. The Universal, the Charter Oak, © which Jobu Sheruan was Chalrnan, should sv | Bishop Clarkayu, of Nebraska, a life-long friend singularly baye named ag the day fora general ! of the deceased, will of restunption the very dayon which the money be tlemen who have expre-sed thelr don, Well-known pabhe men, who bh: decorations of t Will be no profe Numerous dapat been received men throughout the conn money invested in bank stockat? more monoply In National Banking than in farming or nierchandising. The business fs freo toall persons—women as well as men. Mr. Willis and his neighbors may start’a Natloual Bank if they have the capital; they maygstart one as small os $50,000, or make itas lurgo as they please. Thoy can buy all the bank stock fn oxisting {nstitutions they want. Tho buslnces fsopen to overybody who can ralso $100 to pur- chase a single sharcin a ucw bank. ‘Tutaune has advocated In regard to the banks {a what Mr. Willis demands, viz: be placed on the same footing oa othor business enterprises that get no special favors and havo no special burdeus to bear.” But tho law diacriminates agalnst Lanking, whether National or private banks, Private institutions operated outside ot the Natlonal-Banking act are atill subjected, to the war-tax burdeus. A check can't be drawn without putting a two-cent stamp on Jt; deposits of citizens left ina pri- vate pank forsafe-keeplng havea war-tax to pay. The capital Invested has a war-tax to pay. These are all special burdens imposed where no special privileges or favors arc granted. It @ on account of those war-taxes and special burdens that so many banks have retired their notes, or reduced their capital, or are winding up and going into Hquidation, If Natlonal Banke ing was su profitable as rome demagogues pre- tend to beliove, everybody having spara would be clubbing their surplus means and starting new National Danks.—Ep. Tuwone.) a 2 ® to, Amour the ge nt to act ax pall-bearera are Messra. Lewis G, Morrly Oswaht Ottendorfer. Franklin Edson, W, Bailes: Lang, Wiliam A. Booth, and William T, Shel- Invitations have beth eent tu many other not yet been been tdeciled to have the simplest character, | “There tentatlous floral displays, xpres-ing ayimnathy have by Mra, Ogden from business heard from. It ha ————— INFORMATION WANTED, To the Exitor of The Tribune Rep Oak, Ia., Aug. 2%—The money queation score to he the question of tho day. The lead- ir or other on the subject In each and every Sesue, and notably amoug then: Tie Crucaga Trin UNR, theory that the enrrency of the ‘country mural bo based on specte and should be furnished by vate ness. working au Injury, and theereat burden of your efforts just now seom to ve to gut relief for the National Banks. + * papers of the country treat us to something If V fully comprehend, you hold to the pris Birtles: reulated by the demands of bugis ut you contend that the Resumption a-tis {Taz Tumung has sald that private "capital would not undertake to furnish specie nutes under the present ijberal laws,in case the greenbacks are redeemed! or funded, as the pres- ent Banking act latd so many taxcs and restrice tions on them that they cannot asffor to ander- take It.—En.} You claim that the Resumption act fs faulty in that it does not provide for a cireutation by the banks equal to the par vale of their securities, mits the retiring of the greenbacks to y= 000,000, and does not remove the tax on cireula> tion and deposits of the banks, i {Tz Trisune clatms that under those disa- bilities, when restmotion begins Jan. 1, 1879, the banks will not fil the vacuum caused by the redemption and retirement of tho green- backs, because they cannot afford to do its it would not be profitable, and that is the consider- tion which governs bankers ns well as all other businesa men, would result from the retirement of the green- backs under the Resumption act.—Ep.] Hence, a monetary stringency Of course Tue Trisune, 2s do all re- spectable newspapers, claims to bo concerned for the goud of t! contend for relic! on but one auie of the bank question? Why do-you not ask, in behalf of the whole deprived their securities? mored, Ict thelr ) i whole people. Then why that tho banks people, "the. benellt of may be of Interest on I€ their burdens are rer pela) privileges alao Le taken Let them be placed on the sanic footing away. an other business enterprises that ect no special favors, and have no special burdens to bear. If Tunderstand you, I haye correctly, and ft certainly is obnoxious td the charge of being one-sided. this out uf any captions aptrit, and you will cons fer a favor on an futerested reader by explain- ing further, and especinily by answering the queatiuns above propounded. iven your position 1 have not written T.F. Wsunts. [It is very questionable whether tho “ whoto people have desired Mr, Willis to ask such foolish questions as he docs. Ho wants to know why the banka should not be deprived of interest on thelr securitics. curities "’ are the property of thebanke, bought and paid for with thelr own money, and there- fore they are entitled to the interest just as Mr. Willis would boona note or mortguge he had bought, or for moncy he had loaucd. Federal Government levics no war-taxcs now on farms, or manfactures, or stores; It Ievics no tax on mioney or fer Because the ‘se- ‘Tho loaned = by Individuals, on notes of mortgages; it tev. no taxes on Incomes or on lands, Why, then, continue to impose war-toxcs on Thero 1s no All. Tie “Let them mney THE. WEATHER. . Wasiuxorox, D, C., Aug. 6—1 a, m.—For Upper Lake egion, falling, followed by rising barometer, southerly winds veerlnz to weat- erly, and warmer, clear, followed by cooler, weather, and local raina. LOCAL ORIZAVATIONS, Ciicago, Aug. 3 Var. Tar Tiu[ Wind, 6:53a, Mm, 30,09 64 57 N. tiga. m. DOM 7 40 |B. 2: 0 7A $1'8, 1 7a 631 Time, “Maximum thermometer, 5; otatmu: GENERAL OMSENYATIONY. Cuicauo, Aug. var.) Tar | Wind, (Rain Weather, Siatione. feria er rpt td Pr et ot ta ————————$_—— 7 CASTOR AND POLLUX, Spectat Dispatch to Tha Tribune, New Yous, Aug. 5.—Two veterans of the War of 1812, Joho C. Garrettson and Christo- pher Vroome, were buried tu the Little Moravian Cemetery at Castleton Corvers, Staten Island, this afternoon, residents of the Island, were burn within 3 few months of cach other at homes but a icv miles apart, Were neighbors for Ile, served iu the They were two of the oldest war together, and dicd on the same day at the age of 00 years. Gurretson's forefather camo from Holland In 1653 on the Gilded Beaver, and was amon the first settlers of New rain. roome’s father camo over 60, uuu settled with the Moraviaus on Btaten Talund, At Vroome's funeral the church wus more thauhslf dled by his children, grand- dren, frpsterauceaiiiren, and creat-ureat- nd-children, Allof bis vBmerous progeny ive iu the immediate neighborhood of the Corners, and bis sons ara amoug the well-known citizens of the Island. OBITUARY. Special Dispatch to Ths Tribune, Kenosna, Wis, Aug. &—The Hon, J. J. Pettit, onv of the oldest settlers in this county, dled at bis rosidenceon Kenvsha strect at d o'clock this moruiug. Special Insputch to The Tribune, Mirwavkss, Aug. 5.—Garrett Vilet, a pioneer settler, who surveyed the tiret plat of the Cty of Milwaukee, a well-kuown aud respected citl zen, died to-day of apoplexy, aged Sa The Richest Silver Mines Ia the World. Hiltadeudla Ledger. Specimens of silver ore from tha Cerro de Pascu silver mines, ia Peru, show that the sub- merged portion of the mountain fs very rivh, and o rough estiniate shows that a body of ore will be exposed, by the new tunnel which Henry Melezs is to build, worth from §300.- Wide to $500. These inlucs bave lain under water for ity years, and aro scarcely kuown to the present generation, though they bad been worked for 250 yeurs, wheu the miners bad to atop on account of water. Peru bus now discovered that @ tauuel can be buil, which will drein the mumotun completely, by drawing olf tho lake from which tho water fu the wing comes, and sbe fs eu much tn curnest about It that the rut leads of the new submerged ore are expected fo roach Lina tn four months, Ip fs predict al that, willy tar Ute Bio willbe taken out than trom th ver mines Ig Nevada, —r CURRENT OPINION. Whero is. Gen. Butler? ‘The country was never tuened bottom tpward before withont bie taking a part. —New York Tribune (Lep.)- Public attention has been fora few days alserted from the Indion war, but (tis known that Gen. Howard In safe, thongh not qnite nv rate og Chief Jo:eph, whom he went out to capture. SMempata (Jenn) Atalanche. As for tho South, it might bo as woll to Jer the Sonth almmet for a while, at least antil we have establithed an cra of guotl-will, and have ree atured fraternal feeling in the North. The joke te onthe Nosh Jnst now. Let the South atone, — Uinernnan Commerctal (ind. Reps). At the closo of the War of the Rebellion {twas predicted that. should the northern scction of the Republic ever beceme tho ecene of Interna) violence, of aforeign war threaten the country, the South won)d avait Iteelf of the oprortunity to reopen the confilet of tho Hebellion, Theasneet ‘of affinirs Inst week secmed to me to he the moment when such a course was possible, but the Sonth has come forward with ofers of men and money to pnt down thta violenec and malntaln the sopremae cy of this Government.—Secrelary Schurz. ‘The course of the Sonthern people during the exclling crents of the last ten days has beew altogether prateeworthy. Notonly hasthero been ne. disturbanco or outbreak In any part of the extce: Sonth, but sone of the Southern States have ma offers of volunteers to the Srealdent $f they we needed to quell disturhance and enforce the Inw ja the Northern States. Tho Southern papers, too, have generally spoken firmly on the side of law and order, und, +» far an we know, there has not appeared the slightest symptom of disloyalty ta the Government. This 16 an encouraging sign, Tt shaws that tho Southern people are hecoming imbued with a national feeling, and that loyalsy for the General Government Je taking healthy root there. —J/ndianapolis Journal (Rep. ). ‘Wo are natnrally of the most humane dis- Popilon, ime An expedition Is about to start across be continent which we sincerely hope may fall into the hands of Sitting Bull, Chief Joseph, and the dreamer Smohalla, or any other trucu ent Ine dian chieftain, and be tomahawked, scalped, ot burned at the stake. The expedition Ie grimanized. far the purpose of painting quack-medicihe alcns all aver the majestic acenery of the moantalne and plains; to daub subline Cape Horn with the titles of Athy nostrame, and advertise potent bitters in ths Yosemite, We believe there is no law against thie ontrage in any State except New York, ani of conrec none in the Territories, so that, barring the hopeful possibilitics of Indian warfare, there de- filers of natare have nothing to stop them,—Spring- Sleld (Mase.) Republican. Gen, Farnsworth, of Illinois, has been talking politica to a Philadelphia Zines reporter. Of President Hayca he says: *‘l.e has shown anch a sacrifice of mere consistency for tho rake of conscience that I am willing to look over the {r- regularity of his election. J think Tilden wse elected, but Hayea waa legally and Soeity ine ducted’ into the office. Ho ts Preeldent, and haa administerhd the office tmpartlally and weil. What 1 alluded to ns a boli, consclentious thing on his part was ruling ont Packard, who got a larger vote from the Returning Board than Hayes bimecif, tie had then to choose whether ho would let villainy run parallel with him in order to verfect his title, or riso above personal conslderatiune. Ie took the manly, open course, and chopped off the hends of the iteturning Board. Thad stumped East and West agalnet him, but f called at the White-House the other day and pail cta to Hayes, and told him I admired ble Tho action of the Ohio Ropublican State Convention tight have been improved at one ot two points, but it wae far better than many in- tmations from that quarter has led the Republicans of thts section to expect. The position of the pasty inthe Dresident's own State In this the ret goat, of his Adminiatration is peculiar and enct with dificulties, The margin of ite majority is small best, “eo small, conaldering the elze of the State, that if Any — consltcrable frnetion of disacntients from tho prevailing viowa wore driven off or caused to stay avay from the prils, the Democrats would bo auro to curry the election amid an exultant hue and cry which would have 9 deplorable effect throughout the country, All this, while it would form no excuse for tha adoption of a bad platform, prevents difeuitien in "the ‘way of dealing. with honeat diderences of opinion which ought to b¢ regarded with candor. It!s a mattér of gener! congratulation, therefore, that the Republicans of ‘Olto have met the exigency ‘so well.—Buston Jour jal (Hep, )e . Tho Ropublicans of Ohio have done well, They havo made a ticket. that is gaod,—far better and stronger thin the Democratic ticket, Judze Talt woulil have been astronger Gubernatorial candidate than Mr. Weat, but he Ja not {n harmony with the President's Soutuern policy, and was not willing to place himeclf ins false position by ac- cepting-the nomination, He doca not think ft bis duty, nor thatof nis party, to directly antagonize the Brealdent, nor, on tho other hand, to con- tribute to the popular —indorsement 0 We suppose Tatt's y tay in cortaint; Of reflections on himulf lo, Dy any tnlsnap. fated to carry the State, This he will not risk, thongs we regard it as entirely cortain that, the Hepubtic. answili succeed. This grows out of toe fact that the Democrats have been exceptiosally stupid, both ato candidates and platfuring, thha year, Bishop will utterly fia real bate the-ground, this yea! a publicans of thatelty niyo tho acnse to Nmit # trifle of the frands the Democrats are in the habit of perpes trating, Clucinnatl should determine the reenit, In any ovent, tho Nepublicans of Ohlo novor stax- ed {oth a canvass with better proepecta than. they ee Pa year.—Pitteburg Commercial Gazele ep... Wo are proud of the action of the Repub. Mean State Convention of Obio yesterday, Inatead of groping mony the embera of 8 dead past, vr imitating the tlnfdlty and cnics of the Ohio Democratle State Convention, aehort time ago, it boldly grappled with the Hving fesucs of the'day, and raleed in the hour of poril a atand- ard under which all good men can rally for pro- tectiun during the emergonctes of the prevent and the future, Tho platform indorecs Vresldent Mayes and his policy fn tha most unequivocal aud emphatic terms, and tniz wise, just, and com- mendable action is accompanied by the ayowal of auch Nu ant judicious views relating to the great problems of the hour thatthe apitit of the best days of the Ke publican party seens to speak couin in teomoct tonestoan tmpericd country, pointing out the duties to be performed, and the meung wheredy ie Se wafaly may be plucked from tuo net- tle, danger, While the pacification of tho South fe approved, Oblo Kepublicantim does not propose to falter In the enforcement of the eivit rights of an Cinea that may be imperiled. On the quustion o the remonotization of silver, broad, statesmanlike, And sound doctrines are enunciated, and the price Neal measure recummended will ao muc% t) aff permanent relief by initigating the depression oc> casioncd by effortsto resuine specie-paymeouts.— Philadelpata freas (Rep). A gentleman connected with a leading bank in Now York City and a member of the Cleat> ing House has made at estimate of tho Jorscs uc @avloned by the strike, which ly perhaps ae ncarly |ccunito ws any that can be obtained. ‘These jowts ure catimated on the Iatest roturns of the diderett roads, and include perishable articles destroyed and contencta aonulled, destrnction of of) aad vther valaable freight, cattle and other live stock Killed, for which tho taxpayers will not te Teapossible, “The lomses, av givon In tho New York correspondence of the Boston, Zrareticr, are ax follows: Baltimore & Ohio, $3,250,000; Pennsylvan's Central, $4,500,000; Chicago & Fo! Wayne, $21,200,000; New York Central, EA 1800, ~ 900; Erte, $1,000,000; Loko Shore, $4,750, 0005 nt the Michigan Central, $1,400,000; Canada Southern, $750,000: Delawaru, Lackawanna & Wester, 2,000,000; Uelawsre & 91,200, 0.05 jersey Central, $000,000; i id, $13, 000, « WU0, But gulng beyond these items and louking a thelosa cauwed by the suspension of trail, we find the syures awelled enormously, ‘The loss to business mon thronghout the disturbed States ia put at $12,000,000, Tho destruc flon of rolling-stock and other property which must be pald for by the taxpayers, fa estimated, all told, at $20,000,000. ‘The entire estimated loa from all sources te placed at no leve than $10, 000. . And enormous as thie euin secina it haw beet reached by several bighly competent authorities. Thus, then, thle iwmense owount of value bas been cota by the strikes, and there fy ao much Jess jest in the hands of those who dircctly and in directly give employment to large nunsbers of work: fugmen to psy them with, He $e not, indced, ‘been & mont disastrous cxperiment?—Aldany 2 ning Journal, On the whole the Ohio Republicans did auch beiter han there has been at times reseon ‘fear, The acsizing folly to which Senator Btanley Matthews wished to commit the Convention in the matter of Savacial doctrine found no, place in the resolutions, The uttersnceaof the Convention i" respect of the Aduupietrativa and of the duty bet the pi WA tothe South, although clearly inteude to sausfy the fuction represented by Ms, Wade a4 wells those who appru-o what the Administra ton bas done, do avr contain a word to whith the jatter can ovject, Tho spprovat uf the CivileService reform {1 hearty and wore? served. ‘Tho candidates are men of big chars’ ter, and, Inthe wain, of sound ylews, and the Wicket iv one that will Le popular, ‘THers were 4k spotetn the action of the Convention. Chie! jong them was the adoption ef a resu)uton Vs 7S tu ailver, which sitempts & compromie where nuthiug of the aurt is porelble. ‘There i¢ Ho wrest baru iu the resolution os ft stand an y can devise # plow by whict al! A sg Valucd ** that uur people eal not be placed 318 dleadvantage Ju our (rage with foreign nations,” the whale country will be for ceniunettzation, 404 will, moreover. vote a monument {a huuor o! Glecovercr, But itcunnot be done py tl pendent action of the Culted States Congress. Te party 16 bol uolicd on thls question, and tho ¢! = ke it appewribat there is burmouy only re he extent cf the division. On the queetigt caution, tov, the party ty not of ono ible Oblo; aud yscatly ‘oa We rezpet the fact that i not agreed, we Leifeve sbatit acted wlecly 12 f fraimag frum mentioning the subject. ae wiser and more bonest course, and abould b2 beeu followed un-the lives iarue a well. -- Bust Adtertissr (Uti de