Chicago Daily Tribune Newspaper, September 1, 1877, Page 2

b4 . THE CHICAGO TRIBUNE: SATURDAY, SEPTEMBI THE BROKEN. BANK. Conference Between Col. Taylor and the Deposit- ors’ Committee. The Assets Apparently Figured Up to About a Million Dollars, Amount of Real Estate Owned by the Bank---Value of Col- laterals. The Vice-President Expresses His Surprise at Recent De- velopments, Judge Grant's Ignorance of Wrong-Doing---Bulk- ley’s Record. The Run on Other Banks Sub- stantially at an End-«-Dis- gusted Creditors. A CONFERENCE. COL, TAYLOR AND THE COMMITTEE, Col. Taylor and Ils assistants were at their work again carly yesterday morning. The as- sets had all been scheduled, so far as found, and the labor of footing up the several {tems was procecded with. Shortly after 10 o'tlock the Creditors’ Committee met with Col. Taylor in the Directors’ room of the bank. There were present the Hon, John Wentworth, the Hon. Willlam Aldrich, ton A. Decker, Michact Kecley, and Mr. Bishop. Mr. Wentworth was chosen to preside. snl Mr, Decker was set to work to act as Secre- tary. The meeting was held with closed doors, and, although those doors are fitted up with a rery superlor article of plate-glass, through which the reporters could look, yet those news- rathering individuals could out distinguish witht tiny degree of certainty what was sald, and the ‘esults tind to be obtained after the meeting sas over through the pump-handle process. A-ording to the best information that can be rotained, ‘NE FINST THUNG SUL WENTWORTH DID xs tu dive down {nto the depths of his pants dockets foran ounce of fine-cut, which he pro- seced, With n deliberation truly admirable, to Jepustt In the proper corner of his mouth. As she vast laws began to work a quantity of the arieht. yeltow julce was very naturally genera- wd, After one or two very forcible exocctora- dons of the nicotine into a spittoon which stood ihoutten feet off, Loug John scttled himself yery comfortaty in the biccest chalr tn the *ouin wud announced that the conunittes was realy for business, Had the Assignee anything to present tending to show the, condition of this busted concernt™* Col. Taylor said he bad, and thereupon placed defare the committee the following SUMMARY OF THE ASSETS as far as he had discovered them, the statement haylug frat been completed by hls clerks: Keal estate loans, mostly Za0d 6661060063 poe 120, 3H Collateral loans, toutty bad, Unaccured loans, doubtful, 63,001 Bonds of alt descriptions. 600, 135 Uank building... .... . 125,000 Other Gutelde real’ estate ‘renocted to - betong to the bank, but the deeda of which cannot be found, $100,000 to.. 200,000 RU, 502 Of course this statement required more or leas explunation, and the explanations led to considerable discussion and the figuring out of estimates a3 to how much depualtors could real- ize on the datlar, Col. Taylor explained that the list was notabsolutely correct, lils assiet~ ants were continually turning up somothing or other, aud it was posslble that securitics of suine value might ist Ue discovered, No account had Veen made of the cash on hand and tn banks, for the reason that It lind not been counted by the Assignee. It was generally supposed to amount to something Hke 325,000, but he propuscd to count 7 In the afternoon and ascertain the amount to the last cent. Of the $tH,t25 in bonds of all tlasses, Cut. Taylor explained that &155,000 were of the Uhlcaga & Calumet Canal & Vock Company, und wore worth, according to Mr. John C. Halues, about 80 cents on the dollar, There was also $333,000 worth of stack in tho sane corporation, which, according to ail re. forts wis worth just avout’ what {t would bring forvld paper and no more. Tne bank vullding and Jute wd originally cost $250,000, bathe had put them in at $125,000, aud Mr. Wentworth expressed the opinion that oven that was a high figure in these thues of depreciation ly real estate. Some of the Commlttee, Indeed the majority thereof, were of optnlou that, even cording ta this report, the ositors would izes frutn wo te cents on the dollar, Atter considerable talk of a mory or less denultory nature, COL, TAYLOR WAS INSTRUCTED tont once attach all the real eatate he contd find attered about the County of Cook in the me of D. 2, Spencer, and to presced to take surca for the tustitution of crimtual pro- ceedings austnst auch of the bank oflicers as hud rendered themeelves ft and proper subjecte for criminal prosecution — hy abstracting the = finde ond securttics of the bank. — ‘The Committes also formally decided to Beall a peneral meeting of depositors, to bu held thisevening at the Taber. nacle at o'clock, All depositors are heroby requested to attend and bring thelr pas¢-books with them, aa nono not having that, or other evidence that they are in trath aud a, fact de- posttors, will be ‘admitted, After transacting thie business the Conunittee adjourned to meet Hie morntuy at 10 o'clock, RDING TO Sk, WENTWORTH, quentiy unbunlened binself to a ro ything satin a who subs porter, the Comnilttee fouml every lactory with regard to Col, ‘Taylor, who, he maid, expressed wo willingness to resign at any thue and give way to any honest, respectable man— Mr. Wentworth, ‘or anybody else. From the examination of what was — snumitted tu them, the Committee had arrived at the de- Uverate conclusion that the bank was one of the vrossest, most unmitigated frauds and swindles ever perpetrated on any community, Mr. Weatworth tovka very gloonty view of the Whole matter, volng so far as to say that tho casi asseta were hot chouzh to give tdepositor e single dullar, As for the accuritics und other assets, they were found to be so sirunken as to be little beteer than just nothing, although It Was pusaible that un Intelligent and ecunomical administration of affairs would, iu the coureeot three or four years, result in the de- posters etting “25 cente on the dollur, he Committee, he auld, was yery much divided og Lo their ideas ou the subject, some of the more hupetul ones estimating at aig cente vu the dollur, whilu others did not belfeye the thing would pay out more than 20 or 26 cents, Accurding to str, Wentworth, the cam on hand Would not exceed 12,000, Everything showed inost conclusively that the defaulters were coul, deliberate, and systematic In their plaus to icece the depositors. Mr. Wentworth also added that the Asslgnea and the Committee Were in thorough sympathy, and ridiculed tho ica that the Assluaee would steal anything, as tome rash people were fond of alleging, slinply for the reason that Col, ‘Taylor waatoo honest a mantody anything of the Kind, and for the further reason that there nothing Jelt for Lim tu takereven {1 he desired to. Tu atuk whlen a Tunsese reporter had with Col. Taylor afterwarde, thut gentleman relter- uted the statement that ke was willing to resign Jig poattion if th positers would find a good, honest nan tu take Ms place. As for biuself, be had hal avout all he wanted of thy ottice, uid should tave nu obiect! to letting the niantle fall on somebody e! houlders. A CRIMINAL CHAKUE, Shortly alter the cunfereuce way over Michacl Keeley, of the Committee, and Col. Taylor went tu the ollie of the Clucf of Police and bad o ycusultation with that oilicer in regard to tak- lux stepa for the urrest'of Mr. Spencer. Ce Laviur expreesed himself very strougly on the i aylog that evidence bad beeu obtained it wbsulutely uccessary that resident should be brought, back, that be was willing to stand a suviderable shure of whatever expeuses were uvevesury fn dufug ft. Mr. Keeley was also strongly in favor of bringing Lack Spencer, aud Cashier wud Asatstant Cashier, ready to co-vperate with money. tuok the matter under considera { enzaged fu luglsing up traces uf the sugitive, iu order that wheu it ia di covered Jog the whole amount of large and sinall ones VELVE PAGES, must hare done that which his soul abhorred,— toliin lic. Many persons, no doubt, will be forced to the conelision, from all the attendant circumstances, that he quieted his sensitive consctence for a moment, and took advantage of that brief snace of time to tell one of the biggest, most deliberate tics on record. THE VICE-PRESIDENT. WHICH THE SAME [9 A PIOURR-TEAD, ‘The continued absence of Mr. Spencer and his family, ard the thought that his wifo at least ralght have been heard from. prompted a ro- porter to call on Dr. Smith yesterday morning for the purpose of making inquiry, The Doctor was found at tome in conference eh Mr. rico. lle te about 18 years ol he ‘other Bishop, one of the Committee appointed by the | ie clerk in a bank fn Nebraska City, and fs abou: hint to be present st a iieeting of the Cammilt- | o7, erty. She lived with hnn, ani T understand tee to be held to-day, The Doctor has changed | jefe with him when he left.” considerably In the Inst three ds Ife looks ge uoirae KNOW WHENS SPENCER 131" weary ond used up, and while as loquacious as No, slr’ * evens wanlets agreat deal incunversation, He} Eiavsnin 0 {dea where he has gonot’? will commence on one subject, stop short in the Pa pes iniddle of It, and then begin on another, Morrls Bank he owned avery quod house and lot there, which was dceded ta" his second wife shortly after thelr marriage, She died, leaving the property to the children of Spencer by the former wife," "When twas Spencer firet married!” “Before he came West." “When did he marry his second wife!" “f don't know exactly. She died in Febru- ary, 1874. The property in Morris was sold by order of the Probate Court, und T have had charge of the proceedings. The total yalue of the property now under control of the Court is $10,240." phere lie Is, the, necessary means, may be taken’ to bring him back, if be is within reach of American officers. ae TUT ASSETS. WHAT DRPOSITORS MAY EXPECT. ‘The reporter tried to get some additional in- formation In reqartt to the statement of asscts which the Colonel had submitted to the Com- mittee, His inquiries brought forth several opin- fons. One was, that the real estate loans, which were set down at #572,5%3.24; might not bring more than $500,000. The collateral loans would probably not amunnt ty more than $125.000, while the miscellancous debts, unsecured, wero of xa doubtfnl o value that a string of zeros would perhaps properly represent then. Then asta the honda of alt classes put down at £600,195, Of this amount there were bonds and stock of the Chicago & Catamet Canal & Dock Company amounting, all tad. to $331,000 R195,000'in bonds and $340,000 in stack. De- ductinge from the total amount 8699125, the the vale of these bonds and stock, $531,900, the Colonel got at the amount of securities left, exclusive of the bonds and stock, £167,000, low many children has Spencer! “He has tive ba ‘The youngest is in the Quartermaster’s Department in Santa fe, New Mextco. He fs about 13 years old. The other “Well. what about that property tn the con- trol of the Court?" : 1 There ean be no doubt that he bas re-| “That property fe ante tg hie children, He a ea ta Bena ot eelved a severe shock by the develop has not deapolled then. a la fn bunds and Pr Monde’? woulk, “according to. Mr. | ments reganting the Institution of which | Mortzaes und in ny cttslealy a eatate liee Haines, bring A) percent of thelr tacey | je tas Vice-Prestdent dnd a Dircetor. No one | hind hind a R or $143,000, Thie, ndded to the $33,612.50, made just $231,012.50, which was probably all that could be counted on under this item. The hank building, act down at $125,000, ourht to bring $150,000. but the outside real cstare would, not realize In his opinton, more than $100,000, THA FOLLOWING TADULAR STATEMENT would, therefore, show pretty nearly what these assets ought to be expected to brin {mpntes any wrong-doing to him. tit ceneral belief being that Spencer fooled him moat out- rageousty, and the fact that he tins been hood- winked all along increases hia agony. “Haye YOU HEARD FROS Mit, SPENCER HT sald the reporter. “Not a word,’ “Or bis wife 2? No. [dld expect that his wife would write © Ills homestead onthe corner of Thirty-ninth atrect and Prairie avenue, 1 um satisfied, ls free from all mortgage, but the'title ts tty his wife. It was conveyed to his present wife but a few daya hefore thelr marrinzd.’ ; © Didn't he have some ather real estate when he left?” . B JT At one time Ldld_ know of some other real estate which he owned. It was in two parcels Real setatgiinan $00,000 } and any at loast *good-by’ ff thoy were colng } in Exandale. ow much it was I do not now antie12 away! i remember. He had an undivided interest, free building... ‘O00 | ‘Do vou think he will ever come back | from -ang incumbrance. 1 hud exatniucd the Outelde real estat 100, 000 “«T have been so confiding that I think he will | titles for’him at that time." when things qulet down.” “Doctor, do you know anything about that note of Spencer's for $479,177.40 “Nothing whatever, Tknew nothing of its extetence until Tread of its discovery fu the pers. ; ito do souaccount for your ignorance of It Judge Grant dented emphatically having an: knowledge of the fnside workings of the bani previnus to fts closing up. He knew nothing whatever of Spencer's speculutions or private transactions, HERR 13 THE CHARACTER WE GIVES MiDt. “Spencer seemed an economical man, and 9 good proviler for his family, He had no bad personal habits, was sober, and a hard worker, and wasn’t.a fast man !n the ordinary sense of the word, or iu auy way whatever. “He wasn man of quick and iinpetuous temper; conduct: texrity. This thing Isas greata surprise to me | ed nll hia business fu a very positive astoanybody. We never had an idea that there | manner, and could sav “No? in a business qwas a dishonest man among us.” transaction as easily as Yes." He was noted * How could he get, away with all the funds | for his profanity, but his social relations were and the Directors pot know itt” good, and he was a kind man st home.'? “You nre aware that the Vice-Presidency of This was all that Judge Grant would say an {ustitution is merely 9 nominal position— about lis departed client. 5 A MERE PIGURE NZAD. The Egandale property to which Judge Grant He lias the superintendence of dotbing, unless | refers hos been disposed of. in the absence of the chief, — He is looked upon za 2+-§1, 081,612 not take into anything for ‘Total Tuls statement, of course account thie possiblity of re getting the depositors out of Spencer's property, if he Yas any, ar out of the stockholders if they can be made to pay ap. It only takes Into account such assets as have been discovered up to date. ‘The experts and clerks were taborlng nearly all the afternoon on A MONT COMPLETE STATEMENT, which was to be ready at 5 o'clock, and which was to show thu loans, the securities, the exuct amount of cash on hand, and everything fn de- tal. The footiigs, of course, would uot lifer, with tha exception of the addition for cash on hand, and the outy {mportant: thing about it would be the statement of that amount exactly and the specified items of bonds, morteagcs, etc, But the statement wasi't finished at 5, nor at G, nor at G:80, when the Assignee avd every- body else left the bank, — Tio things had been Well, we never suspected that anything was wrong,—never had any knowledye that anything was wrong. Mr. Spencer never did anything that | knew of that led me to question his in- el lone, however: the clerke nad rotten as far as | as no more than a trustee, and presides at the merits the letter "D," in thelr alphabetical list of the | meetings when the President 1s absent. ‘That BULKLEY. ; A CHAPTER PROM i118 IIsTORY, Mr. Bulkley, the Assistant Cashier of the State Savings, has not yet turned up. Mis wife stated he would come back when It was neces- sary. Tho eredttors, the Assignee, and the pul- Ne generally think ft quite necessary that he shoutd returv, but he doesn’t seem ta take the hint. The probabllittes are that Mr. Bulkley Ie pretty deep in the mfre and will not come buck. And, by the way, this ls not the only black spot on Mr. Bulkley. When Spencer was fn the Cools County National, Bulkley was there with him. He was his brother-in-law. Spencer sold out to Allen aud went over to the State, Bulkley re- mained In the Cook County. For quite a tline prior to lila leaving there he was, It {is alleced, in the habit of going over to Spencer,every day after banking houra and {nforming him as to everything which was golag on in tle bank which employed bim, keeving Spencer posted astoall of Allen’s moments, This continued until Bulkley was dropped and Weat came on frown Towa to take his place, But now for the bisects spot. A day or tio alter the failure of-Jay Cuoke, Alten went to New York. A day ortwo after the panle had atarted, A. C. Badger, of the then firm of Badger & Co., sent around to thd Céok County adraft for $100,000, drawn on their New York correspondents, It was sent around for sale. Bulkley took ft, and pafd tho currency over to Badger. ‘The draft went to New York, was protested, andeame back, The house of A. C, Badger & Co, went tutu vankruptey, paying very little, and the Gook County had to stand tho logs. Allon intinuted at‘ the time that Bulkley knew perfactly well that the dratt never would bo paldy ‘afd got something for buying (t, It-was this tittle transaction which ‘out him [oto fl-favor tu tha Cook County, aud it was not very Jung before ne left there aud went over tu take reluge with bis brother- in-law. fa nll there is abont it. When f heard anything about Mr. Spencer I would go to him and he would explain It away. Abd I would po to others. People talk about his doluzs at Morris, ond 1 saw men from there and they told me ho was upright.” “Dy you know that he took ay eccuritics to New York!” “Tasked Saturday afternoon If the securitivs were in the bank, und he sald ‘Yes’ Tt was the understanding thot he should tuks nove, only a memorandum,” . Did you know anything about the securitics the bank held?” “Tnever handled them. cxcept In two Ine stances with Mr. Turner to Gnd out it things wore straight. T TOOK MIL SPENCER'S Wot FOI tT If he said anything F couldn't say way.” & What abort the 9120,000 park bonds?’ “Tauppused they wera in the vault. Thoy were Saturday, and Guild told me they were Tuesday. Mr. Turner was present whew I ask- ed Mr. Spencer if bo owed anything to the bank, andit hls atock waa all paid for. He said it was.’ * Did you over look over the hoot?” “Tcotildn't hove found anything. Iam not a banker or an accountant, It would have taken an expert to tind anythlug. If 1 nad [ never could have seen anything Improper, 1 belleved evervthing was all straight. 1 had tried to keep watch of things, Never vy word or act had Mr. Spencer shown that he was uther thay acorrect man—not honest {a bis dealings. eecuritics, and Col. Taylor had gotten nearly through his counting of the money in the ladies’ parlor, What be counted “amount- ed to just $11,897.49, with certain can yas bage in the vault purporting to con- taln 8000 yet to hear trom. These will be emptied this morning, and thelr contents duly counted. If they should contain what they ara snppode to, there will be $12,431.40 cash on hand. There ought to be $t2,000 more inthe safes of various banks througiont the country with whieh the Stato Savings did busl- ness, “The clerks will also get through with their complete statement this moruing—that is, they mean to do so—in time for the Committee to Inepect. It and draw tp some kind of a report to by made to the ereditars this evening. An- other statement {s promised, showing ‘the dis- erepancies whieh are xald to exist between the showing on the books aud the coudition of things as Col. Taylor finds them. The depos- Itors cannot fail tu be Interested in botirof there atatements, and, pecings. partl-ularly in the latter, whieh onght to give some cine s4 to the amount of Spencer's miisappropriations, THOSE SOUTH PARK HONDS. It bas been a matter of no little conjecture ns to what became of the South Park bonds, which were held hy the bani and appear on the boolts Asan assot, hut cannot be found. The facc value of these securities was $293,000, and they are rondily negotiable at yar. Yesterday it was aacertaluad that sone three or fair weeks azu Spencer accured a Jonn of $75,000 from the Canadian Bank of Commerce, depositing ns collateral park bonds amounting to $33,000. | He had my whole vontidence.’? Bince then the bans has gold $27,090 worth, the “Conld be haye acted ay be did without roceeds uf which wax applied on tho luan. ‘The | help?” The pank stil holda the remaining évt,00v, and “7 do not beltevo he could." when these shall havu been disposed of there “WHAT DO YOU THINK OF GUILD?" willremain to the credit of the deposltors 9 “Woll, hz told me that he had nothing—that eurplus of some 35,000 or $3.00). all the earnings of {teen year of his life were In all probability the $120,000 bonds, the | gone, He whined a good Seal." whereabouts of which have not baen dixcuvered, “Why did he ron away!” were efther placed on the market in New Yorlt “He was afrald of personal. fajury, 1 sup- through the instrumentality nf some broker, | posc!"* and sold fur what they would bring, or clse “You know nothing. abuut: that note of through the same mans hypothecated for o | Spencert'* Joan, the broker retaining a commmisston for bis “Nothing. Isn't that deplorable? But I trouble and turning over the proceeds to Spen- | can’t holp it; it isa tact. cer, It tvould not be # dificule matter for “How could he have given those notes with- Spencer to do either one of these thiuew. The | out vour knowledge!’ bonds were Indursed in blank, and he would “Well, we didn’t have charge of the vaults, nut bave to figure In the transaction’ at all, | 2eeldomwentto them. { never handled the were the broker well known on the etrect and ] papers except when Investigating some special ed of oud credlt matter. [ do not know that fever went Into pres them to take ont the bank's property for a lovg TUE BAN) Ame. REAL ESTATE. | WiC thts juncture the Doctor emeluded that Mil DANIRI ODODWIS, aT he world ‘not answer any more questions, since one of stockholders in the State Savings, put {1 } he had been noticed nite wear beforo ins Cony an appearanze at the usnk yesterday morning, | mittce to-day, and he milzht say something and was able to give some Information rerard- | ¥ ek Saud later tere: ps hele Work, te was {ng the real estate owned by the bank, Accord- | DUTY Ay very Hutte So COMIN oe ee the ing to Mr. Guodwin, who line for years pald | fransgerwent uf the bane}, and hence belleved special attention to the small mortgayes of the | it best to kecp quiet. bank, nonu of these securities draw Je33 than While the Interview was in progress, there 10 percent interest, and he ts of tho opinion | wasaring at the door-bell, aud Mhat they would resllze toduy 850,000, Be- AN OLD LADY WITH A BUNDLE aides these, there were the larger mortzayes,mak- —- WAITING AND WATCHING. THE CROWDIN FRONT OF THR STATE SAVINGS INSTITUTION was smatier and less excited yesterday morning thau any which hag stood fly around the broken bank for the past few days. It would be difficult to tell what motivs can draw them to the acens of thelr losses oxcept u Iin- gering curlosity, desire to know the worst, and from that to — calculate hope, and pray that the fyurea may be wrong, and that there may be something better to look Torward to, But the closed doors anid tho darkenea windows glye up no such gleams of hope. For all that, they hang around, look in ench other's dejected faces, and get what poor relief they can by telling thelr sorrows to thove iho are also bemoaning the loss of thelr Hetle all, One depositor yesterday morntug, an Irish lady of about 45, had a particularly sorrowful story to tell. Her husband had died but re- cently, leaving her and four children to fight the battle of Ife alous. A policy on her busband’s Ife bad been collected andthe stnount, $3,500, fuveated in the bank. From the interest arisiug from this aum sho Yad hoped to pay uff the mortgage interest upon her little home, which was worth some $5,000, even In these hard times. ‘The failure of the bank lad cut off her interest, and, to inake her sorrow even wore conipicte, tho mort- JUDGE GRANT. gage had just been foraclcsed. Without money, ANOTHER MAN WHO suUspecteD Noturxa | Without w home, withont frlents, she wad A eit slongfaw best she coulde, Hew hoarers wese et alony aw best she col je i re Judge Grant, of Morris, the attorney for the erably Moved ut thu recital of ber story, but on her arm was admitted and given a seat Inthe hall. ‘The Doctor threw up his hands aud said, Another.” As the reporter ett the house, the Dovtor accompanying him to the door, the old lady sald, I want tosee you on fwportant ‘Dbusiuoss. My Dittle all was in the —" the door closed, and what followed can casily be {mauiued, Many of the victiins have called on the Doctor, Inaining that he could give thi somerelivt; but * what can 1 dot” he sava. "The wool has been pulled over my oyes, and I US badly deceived as these poor pour ple. $1,900,0U0, out of which he thinks 91,000,000 ought tobe realized. Mr Goodwin also suys the bauk owns more reul estaty tual most wople lave suposed, abd puts down the folowlug = pleces, to which he ways the bank has a clear title, the valnation be places uo. them delng considered rather below thun nbove the true figures: State Savings Bank uroperty, $150,000; lut on Clark petween Ontario and Ohlo, 315.000; lot corner of Hialiugon aud Market, $20,000; elyht atres west of Douglas Park, $11, tye ueres at Clyde, $3,300; lot on Lasalle, botween Staple and Elm, 83,0005 lot west of Lincoly Park, $3,000; three other lots fn the nekghborhuod, 83,000; thirty lute on Drexel boulevard, $25,000; seventy-two acres at Washington Helghts, bougat of Dobbins, worth | State Sayluse Institution, was found yesterday | cunld do little more than expreas thelr ggons huueg and Jon OF Ciullih at ee Noe in Roum 43 Metropotitun Bloc’s actively en- | avmpathy for her, most of then belug ayonue, 813,00; marble front house 609 Wa- | sexed In paying those depositors who placed | themsclves victhins to 8pencer’s ruscallty. Those who had deposited since 3 o'clock urday afternoon were simply delighted to see a potico posted upon the inlddly dour stating that they could have thetr deposits returned ta ther bi calling un Judge Grant at Room 43 Metrapall- tan Block. It Is scurcely necesvary to add that they lost no thne in seuking out the Judze and prescuting thelr claims, which were duly hon- their money In the broken bank daring Satur- day, Munday, and Tuesday last, Placing him- self ino chalr, a TRiwuNe reporter endeavored to get a Httle of the {naide history of the bank previogs to ite Anat bursting up and gutting by DD, Spencer. The reporter commenced: + You were attorney for the bank, I belleve!” | Gro, “Yes, sire 1 wae? Strangoly enough, sours of the crowd fell to “Tuen you know something of its history | discussing the , previous to the collapsct”” WAYS IN WHICH SPENCRIL HAD GOTTEN RID OF 9 “Nothing at all, 1 was merely the attorncy THA DANK 8 MONRY, 4 as if the actual Josa itsclf was not enough for for the bank—Ite legal adviser,” Peon without. belig’ tou’ particular as tothe “Thea you were manner fo which §t had becn sunk, Various MOT COGNIZANT OF ITS MANAGKMENTI" opinions were expresecd, some of which would, “No, not iu the least. [only made the mort- | Be doubt, atouse Spencer if he had happened to wages, wave legal advice when askéd, and looked orerhtne them, aud sega of bic. ould, no jou! pave exasperatet oy youd mes re. to the collection of money when it became due, fn Las yond measy to foreclusures, taxes, ete." The one opinion of the crowd seemed to be that {f thereever was anybody that could vie with “+ And you never kuew how the bank stood?" “No, sit} Spencer was avery reticent man. Judas Iscariot in generd! aud particular cugsed- neas, it was that d—d thief, that despoiler of He knew how tu keep his owncounsel. He had no confidential friends. When by came tome puor folk’s savings, Spencer. Many of the crowd took anything but a hopefn view of the prospect of getting touch of unything out of for legal advice, fn order to cet anything out of | the wreck, and offers were heart to dispose at lowed the. privilege of subscritiug for hls pro hha, I had to queation him much after the man- fata share before it was offered on the street. | ucrof one crose-cxamining a witness.!? Avcordinely, he tuvk bla bares and paid for yf ina he never let you into. the bank's ae- sh, $12,000; Foster property, ou Fulton street, Nos, 4, 600, and 003, 810,000; 327 Weat Madison, $3,000. Bealdes atl this, Mr, Guoitwin belleves that. rant & Swift, und Judge Grant, hold other property for the buuk waich will considerably @yve)l the ataount of assets. This may be one of the things Col, ‘Toylor hasn't found yet, but which belong to thut lags that turns up every. once in a whily as he searches around tho wreck. Mr. Goodwin also makes u further explana- ton of WIS STOCK TRANSACTIONS, feeling that the papers yesterday did kim an fijustice in stating that he was inspired by grooked motives in disposing of all but. tive shares of his ata-k; or In other words, that he did ao fvorderto yet rid of his labittty aso stockholder, ‘Tie true story of his’ stock dculings, be saya, should ‘be as follows: Me brought ity sures soon after tho fre in” the “ firuy belief that It was a valuable commodity, Soon afterwards be went to Europe ant on his return found Bpencer at the belin and learned that the stock bad been meretecu from $108,000 to €500,000, He wus told that ho would bo treated like ail b.e other atuckhulders; that ts, he would be al- ‘THR BUSY APRCOLATON of course took advantage of al) such‘customers, Dut iu many cases those same customers, when itvame to adownrigbt trade, backed oat aud concluded to wait and ece what they could get for themselves, thelr hard commot-scuse sug- gesting to thens that they atood fully as good a chunce as the epeculstors. The fecling of dls- satiafaction with Col. Taylor was quite as freely expressed as it was the before, and the fact discloacd Itacif that the crowd were wot alto- wether pleased with the selection of the coin. uiittee appoluted to look over the business of closing up in conjunction with the Assfzuec. The moic tuoderate ones, however, mudly ex- ie it as their view that it would have ven wiser and better to have inen on the committee selected from the ranks of the de- poattora—bookkeepers aud accountants, hy would be amore fawillsr with any intricac: the avcounts than the average buslaess mun was apt to be. A BAFFLED SPECULATOR, ‘THE DOOUS NEFFRUNAN. ACoicagu paper of yesterday contalued letter purporting to be siguod vy Robert K. Heffernan. These is uo such name fin the die rectory, and the writer is probably some kuarish coward, who'utters bly ies under cover of an alias, The ground of complaint of this simple- tov appears to be that he considera hiusell swindled, because ut the thne of the rua on the banks Io July Tus Taisuse stated that 2 per gov gulued nothing Ly Siving notice of witue bank-books at even os low as 25 centson the thea. At suother tue, when be was a lite dollar, short for funds, he sold $2,000 worth of his stock, Which waa bought up by aman who had a grudge against the bauk, ‘The officers cue to hin and told hi be must take lt up. He hadn't the nioucy, he said, and thy olticers A fogued it to bi, taklug bis note with “Yes, str. the stock a8 security, he aupposing this “You knew the condition of the bank when wasallricht. Duriug the last few months be | the praposed assignment Was being talked of"! hud applied to the bank tu cancel the note, and “T knew nothing avout it they, no more than when so applytny be hadn't the least idea what | you.’ atinauclal strait tue bank was in. de never You knew it was going to close!” had avceas tu the books, aod supposed every- “Eswas consulted when the ussigument was thing was being properly done. Mr. Goodwin | talked of, and was prescut a portion ot the explalned that ie would “have been foolishtur | thne gt the Directors’ meeting lest Friday, bin to dispose of his stock under the fea that | when Judve Beckwith was called in. [t was Ot his stuck LlabUity would thereby ccase, because | that to should be called, as he was an old friend he was well aware that a stockboldeg was lable and adviser of Str, Spencer's.” who bad held stuck ox mouths prlér toa fail- “You were atturicy fur Spencer before he ure. On the Sd of August he had twenty came here?! shares canceled, which stil! lett Bim withthirty- | Yes; Twas attorney for Spencer aud th five. "Ho aduits that he ls lable for the ity: ‘ eriee ee i bank In Morrts.” five ares, aud will take hiy losses | WHAT WEEE 119 CHAMACTER AND REPUTATION as every bouest wan should, und not slope, as Theme? Bpencey ulld, Bulkley. and others bave doue. % Weil, he had a reputation of this kind: He He also says be never revelved a dividend on hts } was luoked upou asa close buisness wan stock. Spencer told bin week before last that | one who ulwuys took care of himself iu every he didn’t owe tho bank aceut, aod that the bank | trude bu made. He was supposed to be mak- only beld $200,000 of the Calumet Dock Cums fuy money in connection with the bauk.” pany's buuds and 100,000 of the stock, Bpen- | Iu coutidence to the reporterJudge Grant cer also suld that uy the laud of the Company al stated that Spencer sold his stuctt to one Gould, Was worth §200 an dere the puper was as quod | # Director iu the Slorris Bauk, aud that the Jat- security as anything the bavk could have. ter bought with his eyes open, but that Spencer According to this, Spencer must either bave | got the best of the burzain, aud made sous furvutten bls uote: to the bank fur something | mouey, of course. Judze Grant contieucd: uvar a helt a tuillign dullars, still ugpald, or be “rab the tine that bu was couuccted with the oir’? ou knew nothlog of its mauagement at No, sir.’ And you were Spencer's attorney?" recognized, earlier than he did, the {mpussl- bility of nnintatning his {ustitation, and would have cleared out, taking with [iim not some. thing like $120,000, but everything he could have'laid big hands on, which would have been much nearer $500,000. ‘been saved Lo the depositors by Tus Thicsa's course, qwas that the rule requiring notice haying been put in force, a depus! out, and, therefore, he had best kee} Bt elreamstances, the other papers also gave. bank at all, but'la one of the gui Jawyers and petty spectators now trying to biry crowd that gathered in the morning was mot day. The demand for money was less than it appeared to be satlsticd. Tne effect upon the becu received on deposit, The amount which at the expiration of sixty days does vot excecd 85,000. MM in the future outside of routine business, and is satisfied that the scare 1s over, employes of the State Savings Institution, the size of the yearly expenses, cte., but met with omy partlal success. The reason for this ts that the cl ‘Taylor's directions, nad no time to Jook up tho books for the exact tizures, and the reporter was compelled to take the best Information he could outside of the buoks. ad some approximately correct, Spencer re- celved $10,000. Dr, Buadth, the Vice-President, got nothing for acting in that capacity, although as Trustee hedrew his 83 per meoting, and the drawal of depos! st by It the In- terest fora couple of months. This Individual, who was ashamed tu give his name, says that he took this advice, did not withdraw hls deposit from the Btnte Savityrs Institution, and therefore lost alt his money. Now, instead of going to work to earn more, as a decent man would, hie apends his time In writlog lying let- ters to the newspapers. That which Ts Tamore published regard ing the run. onthe hank was after they had de- cided to enforce the mxty-day rule. Unwilling to ald {n increusing the pante, It made no refer- ence whatever to the tuatter until this rule was enforced. Then it stated the facts concerning the sun, and sald that a person who gave notice of withdrawal—not a persou who drew out that amount of money which the bank would allow oMcer is largely interested 1s ny within the meaning of our atatute defining this offense. The micface history of thiscancern farnistcs clenr indications that ff its {nner transactions gro explored. erimea will be fond, and it fs the Imperative duty of those who are charged with the reaponaibility of administering justice and exccuting our Inws toeet the appropriate ina- chinery in motion for discovering and punishing thesetrines. Wo have seen how scarching the fnquisition of a Grand Jury may, become when Airected tothe conduct of publle officers, ant the public welfare now conimancs Hs even more vigorous employment in this field. The object of governinent {a the welfare of the eitizeos who arathe subjects of ft It cannot accomplish this object unless {ts appropriate functions are constantly on the alert to protect tha rewards of industry. Ttacts by making sulita- ry laws and then enforcing them, [nour coun: try this is accomplished by the great body of Init take qutrrandoing aii thing. ‘Doce | tel urindlrectiy br themselves” An tet of Mr al le oF cl ORCI 7 at that thine he would have been tho Legislature iwhlch prescribes a rule for human conduct {< not in any proper renee of the term a law tniess it contains a provision for the paulshisent of the person wha trans- presses it, It is mere advice, which may bu dis- regarded with impunity. A properly framed statute [a equally uncatocy (C Its penalty Is not enforced, This catastrophe shotld unt so much awaken onr anxiety for new laws as excite our vhellance in enforcing the faws we already have: for it Wo have no disposition to enforve oxistliug statutes we shall be cqually faiferent to whatever statutes may be hereafter cuacted. RO DETTRN OFF THAN NE 18 TODATT ‘Tho bank has gone up, It went up before the sixty days would have expired, for there are two weeks yet ot ft, Su he would have drawn out nothing, The batk haring {alfed he would be Innv better position. If be had given notice hewould not thereby became a preferred ered- Itor. ‘Those who gave notice sixty days ayo, aud those wha did not, stand upon tho rame footing, What does this incredible asa mean, then, by saying Uiat be was swindled out of his money because he didnt give | notice! | ‘The test of the sultabletiess and strengsh of a The moment the rule requiring sixty | go ‘ days’ notice was enforced, that moment Gorornment is the extent te which obedience ts it became torpossible for this fellow to get his feces to its laws. money out. Prior to the time of enforcing this rule he gut no alvice from THe TRIBUNE, for it had given none. The wisdom of the conservative policy of Tun ‘TRIWUNE at thitt tine fa shown by the fact that {Cit had‘prectpitated a@ run upoir the bank,— if it had alded In getting up a great public furor on the stibleet ole Spencer would have Ita porsion. ot fits sub- jects acquire the habtt of disobedience, and this. ja tolerated by the rest, the evil will extend un- tf the Government becomes a mere snell, aud must sooner or Inter givo place to sume other form that will more effectually accomplish the purposes for which Governments uro instituted, ‘the events now dransnicln, and which have tosolarge an extent filled our tistory for the last few vears, show that our own progress Is towards this vanishing point. And tt becomes the duty of every citizen to oxert all his Indu. ence for the enforcement of the laws by se- curing the punishment of those whu viotate them. As yuit have well remarked, nothing so promotes a spirit of Communism in jour smidat fs the public ncquiesence In frequent and un- punished robberies by men in position, and the contining of thu Iniflctiun of penalties to a less. favored aud more humble class. That much money bas WHAT IT SAID IN SUBSTANCE torvould not act hls money vool and witaT: LD BR DONE est under youl a ‘To the Exutor of The Tribune, Curcago, Auf. 91.—The force of public indig- nation inthe matter of the State Savings In- stitute swindle seems to be wasting itself In {dle words, and the remedy for the sufferers Is last passing beyond reach. This new robbery, outrageous and far-reaching as it Is, will prove buts nine days’s wonder,” and then drop into negisct and obscurity ikke the Ashtabula disaster, the Suliivan murder, and every other public sensation. Meanwhile, we can learn of no concentrated, organized effort either to catch the thieves, restore tho plunder, or save what thera ts left. The depositors are lxo a Hock of sheep running here and there In aogi- tation, but aimless and lelpless,’ | Tho remaming -beggarly show of ‘nasets’ de- serves the first attention. The sentintent of the community as tothe Assignee {s riglit; no man {ts to be trusted whom D, D. Speneer selected to'admintster the estate, That aloucis renson enough for rejecting hin. But how to remove him without legal Aight and expense no onc seems to know. You stute that about twenty depositors have draw op a petition to the Cireult Court to thisend. Why don’t the twenty give some public notice of their action, that they may recelye the co-opern> tion of ten thousand who stand-ready to assist. Place the petition iu some public place, and ou- notnce that it {a ready for sizuatures, Of fintnediate inportance fs the capture of tha undrel Spencer, and the advertisement uf the votds to prevent thelr wegotintion by him; aléo some aystemutic efforts to set aside his recent transfers of real catnte, and re- cover anythlug that he may havo hidden away. Isit to be expected that Mr. Taylor will'set such measures on fot, of that he will procure the ald of detectives to huut the de- foulter and thief from is hiding-place, or to obtain extradition papers for his capture if he has fled the country! Yet this oucht to be done without adayta delay, If Mr. ‘Taylor will notde It, It should not oc suffered tu go by default tor the lack of prover authority tu the hands of competent persons who will. “Not merely should this be done, but a keen and ecrutitiizing guard should be plyscid over trausactfon sluca the concern With Its funda came inte the lands of the Asalmnee, Have any tnterested parties recetyed their money sincs the fallure? It is hardly credible, yet [have distinct assurance that certain per- eons were their money, or a con alderablo part theroof, on Thursday, the SUth inat., while the thousands of humble sullerers were plunged Into sorrow and despalr by thetr crue} loss and the hopelessness of thelr claim, It is Ineredible, yet I have the most un- denlable reasons for the belief that it Is a0. Still auother necessity Is that this " public calanity ?? shall Lear such frult as that its repetition shall be made fuposstble, Legisla- tion In this State is notoriously defective on this subject, and will continue to be {n spite of this wretch swindle, untess the public atten- tlon {s held closvly to the necessity of an smend- ment, and thus suitable measures stall be fu- troduced and passed during the coming Legls- lative seasion. To enforco this demand is the duty of the preag, Hold the public eye on ft in your editorial columns; advocate it° with tho persistency und ability with which you havo ad- vocated the romonetization of sliver, anid good results will follow, for which thousands will rise up and call you blessed, Business, notinake ariot. Thatadvice, the ‘ne probabilities aro that the kuavish lar who wrote this letter uever tad any money in the ng of shyater up the bank-bouks uf depositors and who are enraged because of the exposure made of thelr operitions jn yesterday's TrigoNe. TIE RUN, : AT TRE PLOBLITY. ‘There was a considerable let-up in the run upon the Fidelity Savings Bank yesterday, The nearly so large by onc-halfas on the previous day, and there was less of apparent anxiety. By afternoon the crowd had so far diminished sstocnableall to get lu Ine Jus{de the bank, and there were but fuw on the street at any time, A fale estimate would not place over seventy-five persons in Hine at any one time. The faut is, the depositors arc commencing to fiud out that tho Fidelity 1s safe. Mr. Jon U. Iulues, the President, has ived in Chicago about forty-three years, His children were born and haye grown up here, and he bas every- thlpg ot stake. At the Directors’ mecting, Thursday night, Mr. Haines pledged all his private property for the beneflt of the deposit- ora, 1f it was uecessary. ‘The excitement of the past few days has woro upon Mr, Haines, but he has kept remarkably coal under the ordeal. Ile spoke rather feelingly to Tux Tringne re- rier yesterday, and sald that he had lived In Shicagu betwee forty and forty-three years, He had reared life children here, and no one could ever polnt m finger to any dls- honeat act of his. His property and means were pledged jto the depositors, andthe would staud by them. The bani was perfectly safe aud secre. Tt had oot been tam wred with, and he woutd never ateal one dollar, Mr, Haines felt confldent of the result. One thing above all others is inthe bank’s favor: St hae pald no fancy salaries, and no one is pald except for actual strvicas rondcred, The asset: so far, ure more than ample, ‘The cash on han ta untiicfont to withstand considerable of 9 run. ‘She diusinution jn the rim upon the bank shows that the depositors ore commencing to feel that thelr money {s safe, There can be no doubt as to the safety of ths Fidelity, but no bauk, with {ta deposits invested mainly in mortgage eccuri- tlea, could turn its asscts Into cash with advantage at very short uotice. Many of those who came yesterday to draw. out a portion of their money were given amore than they called for, All went jatisflcd and pleased after leaving Mc- vho had a good word for every depos- ‘Tus crowd was remarkably devoid of In- itor. eldents, and it was quict aud orderly, without the least ripple of excitement. It fs probavle that, now that the depostore have dlscnvered that the bank fs perfectly solvent, the run upon it will cease entirely to-day. ‘The deposits yoa- terday were considerable, and two new accounts were opened, which shuwe the faith felt in the tastitution. y ANOCND THE MERCHANTS’, FAUMERS' & M2 CHANICH Savings Bank the utmost quiet provailed yester-, had neen for several days, aud scarcely equal to occasions when there was no excitement among savings depositore, The rule of the past few days was observed with all appilcants, and they CHANGR AGAINST THE PREIS, To the Editor of The Tribune, Curcaao, Aug. 30.—Regarding the recent col- lapse of the State Stealloy Institution, is it not a fact that the press Is a6 guilty of deception as the oflcers? One month ago, by theaally pa- pers, peoplo were fools who evinced any alarm about thelr money; to-day they are fools by thy same papers for not drawing thelr mouoy out of aconcern everybody knew, that had au oppor- tunity of judging, was rotten. Is It not a fact that tho papers, when they published the 8.8. J, bank so far haa not been really felt, About $5,000 has been paid ont, while of much bas the bank has been notifled would be called for it, Mvers docd uat aaticipate anything NOTES. ‘Tilt BALATIZS, stntement June 30, 1877, knew they were je A Traune reporter cndeavored yesterday to | lishing 4 falavhood, a delusion, rad a anare learn the amount of salary pald the ollicera and i A Devs. Evolution. ‘The following ts the coucluatou of the address of Prof, Allen Thompson, President of the Britiah Association, at the recent annual meet- tug {te forty-seventh) of that body: “Tn the statement which 1 have made of some ofthe moru remarkable phenomeua of organte production, 1¢ has been my object mainly to ahow that they are all more or Tuas closely ree lated together bya chain of similarity of a very marked and yomistakable character, The more obvious morphological changes are Of so slinilar a character throughout the whole, and so tears Jy allied in the different larger gruups, that we are led to regard them as placed in suine very kv, who were busy carrying out Col Some of {t is exact, meetings were usually held twice a week,~ and sometimes oftencr, Guild, closg aud iatiinate relation tothe inherent prop- the Cashier, Ne $5,000, and so did Bulkley, his assistant. The j'erties of the organte substunce which 1s clerks, bookkeepers, and’ tellera st the main | their scat, and the evor-present influence olllce and the brauch, the portera, watchmen, of the Vital conditions in which alove these ant eoploners, reralyed all told about #15, properties waulfest theuselves. ‘The toruu- per year, Tuls sam will probably include what | tive or organizing property therefore resiics in was pald for stationary and tacidental expenses, | the living substaiice of every orwanized cell and Then there was the cost of advertising, which { fu each of tte component molecules, and fen was at times quite Leavy, but the annual aver- } necessary part uf the physical aod chemin! con~ age amount uf which the clerks could not tell. | stitutlou of the organizing elements in Sudge Grant, the bank's attorney, ts sald to | the conditions of Mfe, aud it acarcety needs to be aye seevived #300 As before stated, cach | sald that thes conditions may be as varied as of ‘the Trustces. got $5 for attendance on | the countless numbers of the inolecules which every mceting, Altogether the expenses do | compose the smallest particles of thelr sub- not acem to have Deen Jarge,—certainly not | stance. But, setting aalde all apeculation of a Jarge as com d with those paid by some of | merely pangenette kind, tt appears to me that the New York suvinga banks. no ony could lave eugaved in the study of en TAYLOR'S UGND, brrotogical development for any tine without Gen. Lich yesterday received the followlug: besoming convinced that the phesuuieng which Curcago, Aug. 30, 18T7.—Uen. Hermann Lieb, | dave been ascertained as to the tret orlgln and County CierksDaan Sik: At & meeting of tha | formation of textures and orwaus In auy individ depositors bel thie day, at the corner of Market | ual oulmal are of sy uoiform « character as aud Madison strects, it was resolved aud curried | to indicate forcibly a law of connection aud cou- that you bo requested not tu appro: ja bond of | tinuity between then; wor will his study of the Abner Taylor, Assignee of the State Savings Instl- | brenomens of development in different animals tation, antl! after a mecting of the depositors ng far before he ts equally strongly con- called to take olace to-morrow night and take | vinced of the siruitarity of plan in the develop» raise te ee Chalpieas of cowsiiien ene ot ths larger groups and, to soute extent, oO! se Whole, qucstof she Commition Guless wilered ‘te do | 2 1 couslder ft fampossible, therefore, for any otherwise by the County Court, which will Bot | the present state of acleuce without at the sume bein segsion until Monday, tue becontiug au evolutionist. ‘There way atill = = be many dilticulties, some Inconsisteacics, aud CORRESPONDENCE. tiuch to leara, aud there may remain beyond BAPOUNCE TUE Laws. tauch which we shall never kKoow; but E cauuuot To the Euitor of The Tribune. coucelve naiy dustrine prufeaiinn bring tbe Cuteago, Aug. SL.—The expose of the affairs | Pucnomens of bi br yeu ete ie uacry of of the tate ‘farlaye Batik pablistied In tho’) Several: Haw eilcl, 14 nut, Ube thei tuaury of morniug papers presents a spectacle truly ap- | ftentity, their endicss variability, their eubjuga- palling to the teu or fifteen thousaud olhers of sons be Tursiog exterael tdurpres eeu) cud the jnstitution. This ls oue of the oldest 2 = jou of the vital conditions and properties, with banks of the kind tn the Stave, aud the loug | tics variations, from individual to tudlvidus gud uninterrupted fulfillment Of its promises | gl, fu the long lupse of ages, from race to to pay interest Upon deoosits Induced a large | race. L regard It, therefore, us no exagy erated part of the industrious purtion of our com- munity to place the frults of their tali there, "They are uow oaralysed by $ho autouncement representation of the present tate of our kuowl- edge to say that the outogenetic development of that the mouey they tatrusted to this bank, and which they had all aloug contemplated as con- the judividual iu the higher uuimals repeats na its more general character, and {umauy of its specidc pheuvimcua, the phylugeuetic dovelop- ment ofthe race, Ifwe adult tho progressive stantly accumulating, bas been stolen by the | uature of the chungea of development, ollicers of the bauk} forthe exchauying of the | tocire siuilarity io diferent groups, fonds of uo bank’ by its otficers for tho | and their commou characters in ull Douds of u Worthless curporativn tu which such | avimals, bay, eveu fa wome teopets iy Lotus A Young Canaan plants and animals, we can scarcely refuse to revoynize the possibility of continuous derlys- thon in the history of their origin; and however far we may be, by reason of the finperfection of our knowledge of pakrontology, voniparative anatomy, and embryolomy, from realizing the preeise nature of the chain of connection by which tho actual descent has taken place, still there can be little doubt cematoing fn the mind of any unvrejudiced student of curbry. that iL {s only by the crnployment of such an hypothesis a8 tint of evolution that further in- vestigation In these several departments whl by promoted, so as to bring as tow fuller cvotmpros honsion of the most general law which reznlates the adapt\tion of structure to function In the untyerse.”” THE STATE OF TEXAS. Vhysictan Gives His Views of the Emptre State of tho South. west. fo the Euttor af The Tribune, VANDALIAY Mich, Auge 20.—Arnong the pro- moters of human welfare and Happiness mtzht be mentioned the name of Theodore Noel, of Chicago, General Manager of the Texas and & Immigration Aasoclation,—a gentleman whose {ntegrity not one of the many whom he has rene dered grateful courtestes in the past will quee tion, Amore genlal Southern gentleman one coukl not hope tu encounter Ina whole lity times shrewd, ambitious, warm hearted, he hat fone to work to people a country, to build na Finplra in the South, to repiace Texas Jacks and other outiawa with better race, Outr ace quatntanee began only a few months ago, cl- though my present place ‘of business $3 nut more than elghteen intica from his birthplace in Michigan. [have recently completed a tour of 3,000 miles or more through Texas, part of the time fu company with Mr Noel. In Texas he has many friends. fo has represented that State iu the Legisiature, and been energetically engaged In many of the later railroad and. real estate proje:ts of the South. MMe now represents a laud and fiumlgra- tion association that Is far above reproai, Some of these corporations -are, however, I an sorry to say, below par. Tshall not forget the true zeal he manifested to me tu his statements about where and how to go to work to make a fortune In Texas, and Tam free to adtuit ty. vestigation pried his advice to be gout, It sceins to be his whole alm tu make that part of the United States blossom with geutal homes ta the Suture as it dues now with framrant wiht flowers, May by exertions be unceasing and his rewant our universal thanks, Perhaps a few observations made fo that primitive State while on my tour may interest, sane of the many thousand readers of 1ac Tripune. Passing over the country, glancing at the sublime Leautics, and at the ‘same tine faking a comprehensive view of the splendor and imagnitude of Texas, one could not helo exclalming, a3 I have heard many aone “1 ike Texas.) Surely some incomprehensible agency must have controlled the forces and caused thein to unite thelr energies In une crand devel opmental scheme to have prcduced, fo sublime a factor tu the American Union, There nature made a happy compromise in her extremes; there it would acem ag though nature exhaust. ed all her surplits energica in the bestowal of her richest elfte; there can be found a ureat variety of soils and minerals, The low and rolls {ug Vanda ore atluvint ot the tertiary for mation. The hilly” reglons gre rich in cretactous deposits, while primitive rocks leap forth in many | lucalitiles. = The frost plains consiat of ptrotified clay and chalky marts, which are bounded with ex- tensive deposits of gypsum, Rich coal beds, formed during the carhouniferous period, exist in the northwest. Inexhaustible quantities of fron ore lay buried benesth the silent Lluno, Colorado, sud Red Rivers. To the northwest atlver, lead, and cupper are ta ba found, Salt { furnished by salt springs, and by natural evap- oration on the lakes. The rich calcurcous tuain and alluviutn, or bog-watlow as It {s sometines culled, owing tothe unevenness of the surfa:e, caused by cracks duringdraughts, furniah abun: dant pasturage, an worn, wheat, barley, oats, ete, Thert the orange, quince, and fig find 4 congenial —eliine. Heavy pine timber grows on the sandy soll, Post onk and black Jack on the cravally sand. Horses, cattle, sheep, the wild Bison, and autelupe, to lu numerable numbers, uow frolle on the hills and mounda, beside the Uttle twining streams, and over the almost iMimitable plains, where soon must follow ‘an avalanche of human souls.” God never throwed togethersthis carth, aut then covered it with rich grasses, beautiful flowers, immonse timbered forests, bounilful mineral deposits, for nothing. He uever male so grand and glorious a cotntry to remain an ainphitheatre for counticas cenera of flora and fauna to mature and decay In ages to conic, oF in aves passed nwway. 1 {ike the people of Texas ag well ns one can such a conglomeration of nationalities. Like the trae Atnerivan, they have delivered them- selycs trom the crushing iniluence of credulity and superstition, because they have opened tho portals of their miuda and tnvited Inquiry, com- mon sense, and reason to enter; becaise with them brute force 1s rapidly giving way to tioral guasion. Inconclusion 1. would express my deepest gratitude to Col. George Nubles, of Mirshal), ‘Texas, General Superintendent of the Texas & Paciie Rallroat; Col, Hoxie, of Palestine, Geo- eral Superintendent of the International & Great Northern Railway; Col. DuPree, of Auatin, edltor Sfatesaan; Judge Nobles, of Houston, and many other nobte, wnole-scuted gentlemen to whom Tam indebted for kiud he stowuls, which a young Canadisn lke mysell cun ever repay. D. M. Losex, M, D. ILLINOIS FIREMEN, Close of the Tournamont nt Galesburg~Of Acors-Eluot for the Ensuing Year, Spectat Dispatch to The Tribune, Gacesnuno, Ti, Aug. 31—The firemen's tournament was concluded by the races and en gine contests of to-day, Prizes were given ss followa: For chemical-enginge—Mal. flolt, of Moumouth, first, and Kewance, of Kewanee, sccond. The distance thrown by the Maj. Holt was 05 fect 9 Inches; Kowance, 63 feet 0 inches Prize, 850. Hond-engincs—New Peorla, No. 4, of Peorts, 183 feet 7 Inches; Wide-Awakes, No. 1, Pekin, ditto; Tornado, No, 2, Galesburg, 182 fect 6 inches; Water-Witch, No. 3, Quiney, 181 feet? Reliance, No, 2, Galesburg, 181 fect 5 the first prize (8200) and the churmplon ship broom being tuken by the New Peorlss, of Peorla; the second, 8100, by the Torvade, of Galeaburg. s , Sweepstakes for hoso compantes—First prize, $200; second prize, silver trumoct. ldurado, No. 9, of Deeatur, raled out; Dixon, No. 1, of Dixon, ruled, out; Monmonth, o Monmouth, 63 seconds; Steam-Pump, No. 3, ol Galesburg, 70 scconds; Wide-Awake, Lapories Ind., do; Pharnix, of ‘Quincy, do; Peoria, Nu 4, of Peoria, do; Neptune, No, 3 of Decatur, by seconds; Wide-Awake, No.1, of Pekin, 6537 seconds; ‘Stewart, No. 1, of Galesburs, 19 eeconds; Rescue? No. 1, of Decat ir, 74 seconds} Chicago, Burlingcun & Quiucy, No. 4, of Gates, burg, 65}¢ seconds; Shake "Ray, No. a Quincy, 78 seconds; Continental, No. % of Galesburg, 803¢ sconds; Tom Deun, No. 1, of Charleston, 73 secunds, Hose-carte (to carry 4 1,100 fect)—Wide-Awakes, of Polln,pinst prize; Monmouth, of Monmouta, second, ‘The remainder of the day was devoted to a5 exhibition of the Galesburg water-works sud music by the bands iu attendauce. At @ bustness session of the Association, the following oilicers were elected fur the eusulug var: President, M. Benner, Chicagus First Vice-President, sfoseph A. Boynton, Sslunmouth; Second Vice-President, Frank H. Babbitt Dixon; Third Vice-President, = Joh EY Eauto, Rockford; —_Fourt Vicor President, 0. L, Mumford, Charleston; Fito Vice-President, H.W. Goldsinith, Gulesburdi Secretary, Hario P. Christie, Decatur; Cor responding Becretary, E. B. Chandler, Co caxu. Thiy concluded the third anuy tournament of this Association. ‘Tho contest? throughout were conducted with the utmost of wood feeling aud order. The attcendai-e 4 at very lange, fully 15,000 people veins iu alms! constaut abiendance. ———————— ‘The Venus of alilo's Arms The Venus of Milo fs ouce more resizned to her armlesa beauty. A. M. Douasault, whe met at Athoug, {n 1347, M. Brest, tha Ulscoverct oe the Venus, bas published what. he says are : notes of the tufurmation gives him at thar tne by M. Brest blmactf aud the sketches wok - tude under Brest's direction, showing the bOsT ton of each fraginent of the statue us ae i when unearthed In Melos. He repeats the he story that the arms were lying upon the Fees ut the fuct of the statue, and states ciredustt tially that the left arnr, which was Deut, bel te apple iu the band, wulle the riyit appre have stretched dow to qrasp the drapery i ret latter fy the ura that was lust; of the are the Louvre, as fa believed, possesses aan 5 meuts. ‘There is vothing new or wart = Doussault's statement, but it scems tu a garded fo Paris as cloaiig uvy discussion oo oi Fediscuvery of thy warms. That, Lowest wearcely Deceasary. @enerous . crops of ret of hose aud rus