Chicago Daily Tribune Newspaper, November 20, 1877, Page 7

THE CIICAGO TRIBUNE: TUESDAY. NOVEMBER 20, 1877, (s = [lE FIDELITY. payment of a Ten Per Cent Dividend Begun. ort of the Committea Appointed to FExamine the Receiver. EIEERES S + gecalls of Thelr Vatuatlon of (ke Real Estate VWhat They Got from Dr. Tarpin, Rep THE FIDELITY. THE PIRST DIVIDEND, ¢ first gleam of satlsfaction which has {l- Jumined the hard path of tho savings bauk de- ftors came to o part of them yesterda, when they were cnabled to got out with much dificully 8 tithe of tho money which they had no difficnity in getling Into the bank's vaults, The attenlance of depositers at the hour of opening W& quite larze, but It wna an orderly therlic, #hd the officers fn attendance had only to slow the depositors what to do, and it was done at ofce. Aline ran down nlong the west wall and doubled back, soas to Lring the soplicant in front of cach plgcon-hole in turn, until hie atrick the one In the northeast corner, where the money was paséed- out. The prow: of a depositor was about o8 follow: First, allow cither Mr. Halnes or Mr. Emith to mscertaln that the mase ook called for the same -amount that {he bank's lederers credited the - account with, 1t was next neeessary to encounter Mr, Cliam- perlain, who made out a seceipt for the amount due. Thiswastu bo slgned before reaching r. MeAuley, who fientified cach claimnnt by making htin deseribe himself as to those partic. lsrawhich were demanded of hin when he mado his deposit. This was of coursc nccessary to present fraud and detect yosaible thicvery of books, The last process was to collar the money as_handc@ out by Mr. Sherman, Dr. Turpin, tho Itccelver, watcied eversthing closely until it ran smoothly, when lie retired Into hls den. The result of the day's work wis 10 pay oft nearly 300 persons as to the dividend. Tuis 18 fully 50 per cent wmorc than was thought possible 1o run through the miil between 10 a. m. and 4 p.om., but tho excellent syatem alded the work ina- terinlly, At that rate o month witl pay off the 7,500 claimants who have books ayainst the pank. The smms paki out yesterdny varied greatly, running as low as fractions of a doling, and up to 1,000 in onc case, The flrst person palil yesterday was Mra. Emfly L Petty, snd the next W. L. Rosa, Tho first had $40, of which she took #4, and the last had $202.37, of whiclt he carrled nway 809.23. The payment of the dividend will Lo contluued unti all are set- tled with, and the bauk wili be open from 10 a. m. to 4 p. m, for the purpose, DEPOSITORS' MBETING—IIEVORT OF THE COM- MITTEE, K About twenty pereous assembled last cvene Iz ot the Grand Pacifle Hoted to Haten to the report of the Comumittee, conslating of Mcasrs, R. P. Dericksan, Charles E. Felton, and E. E. Hutehins, who were n|lmnlnu:d at a previous weeting to Inquire into the aMales of the Fidel- ftv Havings Bank, ond to consult with the Ite- cuiver a8 to the value of the ussets, Mr, I, 8. Armlt was chosen temporary Chalrman, and Mr. Felton read the report, ns follows: To Drporitora of the Fllellty Savings Bank and sife Depoeitory—GuxTinurst The undersfuned, our Committee, appointed by yout on the Sthinst, o examine the reporis of the Hecebver ol the Fle Aelity Savinze Bank, Dr. V. A, Turpin, to the Lonorable Superor Court, and to obtaln such In- formation as deemed by ‘your Commiiteo to be of interest to depositors, bex feave to report that they have obitained comes of the orleinal reports of the Yeecelver to tho Court, and have made them the Laata of Xn||||ll’{ from the Recelver and from the odiclale of the bavk, obtaining, when necessary, sccess (o Its booke, Tn making their Inquiry the: have not found [t posalble in the tine consumed to Fointo an examination of the books of tho bank carine s entire history, but have obtalned n- formalion larz=ly from the verbal atatements of it« oficcrs and froni the Hecelver. The Commiiten Lelieve, however, that they have not been warped from cosrect conelnsions Uy auch. statements. as tbev have carefnlly avolded taking for granted the patenients of any one when fnconsistent withother information, ' Upon your Committee nvking from the Recelver the numes of ruch debtors tothe bank ns in hia re- purt arc shown ot o have soearities 1n the bunk equal to indebteduess Intended 10 litve heen woe curer, we wero required by hun o withhotd any such Information, 1 given by him, froms pablicas tlon I ine newapaners, and. from rt to ony neeting of depurltors. and the rearons given were that he ** thuuzhe it contrary. 1o pudlic polley 1o expose the affairs of private individuals tothe pub- Iit, excet throngh the lecitimate channels of the court,” and alsv that ** It wonld provent lim fi cotlecting clams that he miwht otherwiso col) Ly cripphinge parties so publishied,* Similar con alderatfons hase governed your Commitiae some- what in this report os touching other matters of wored intereet 10 depasitor ank was organired under **Anact to in- copporste the Farmers & Mechanics’ Savinga Dank ol Rnox, Connty, Iilinols,* approved Feb, 15, M5, On the 10th of Aprll, 1 the name of eard bank was chpnged to the Idelity Navince lank and Bank Diepository. Its President was Johin C, ilalnes, and §ts Cashler war Jared Gage, Its capital wan §200, 000, OF that capital, stock to theamount af £41),000 1 now held by the bank as collzteral to loans, part of which wae indebtedness crcated by purchano of such vock. This amount, unlesa the partles nro otherwise responsible, will , e n tota] Tuss Lo the asscta of tha bank, and was vlaced as worthless in the report of the Rteceiver, The Recelver thinks he can obtain judement st all stockholders Lo amounta equal to tho lock they reapectivels icld, and with that view he will peocead axainstall owning stock within the »ix munths prescribed under their charter of organtza- tion, ‘Yhe walaries of the oMcersof the bank have Tever excect for L'reatdent 85 0003 Vico.i'r dent, 85,0007 Cashfer, 8:1,000¢ Asshtant Cashic: $1,800; and to the other oticials and employen from 8L 5k} down to 2100 per annum each, The enthe dividends pafd o stockholders durlng ite Iustory have been 118 per cont, or o trifle more than £ per cent anuums and no dividend has been do- clared Miice 1875, Tho outlaya for construction of #afe-deponit vanite, etc., have been the cost of the lawty, bank building, Luilding, vuults, sud furniture, aro Fite $4£5,000, Thu present abprals: tenver gives but 8 total of #1r2,000,—a shrnkage OLILEL 000 o Abis Ym(mrly alone, The genorul policy uu the partof the bank managers in oilier matlers sccma Lo have been that of economy; and webaveno evidence that thera bas boen sy dis. Buneaty ou theis part 1n any watter, Tuatthere hua been lack of care in the recelving 3 part of the securities 1n evidenced {u the lnvine. tory of the Recelver of the bank, The fncome w Jancigpally derived from the losn of depositors' monuys: [ts receipts from the real estate vtherthan {rom “itu rafe deposit bullding were Smnaterial; nd the incowe, i the opinlon of your Cuminitive, was leds than ncteulv( 10 vustalis such a corpora- Lon, wiidle ila rate of (ntereet pald was G ver cont, Ta the payment of this large rate of interest to d Pusiturs; the luaning of woney ta partive upon o itles which are How shown to havo been insuf- Lelent; the investinent of largy sums of money in of real extate and {u the construction anit to earryinZ large indobtedness of Hr own atockholdera—wo sitribute tho insolvency of lln-h\unk. buch errors nw ' rotest ngalns! The onese f dopern y ottier than the moet reliable of p whould reject all auch securitie 13 idden shirinkayy in value, (rom auy cause Tectinz collaterats. Nor should & savinge e peruited 10 Joan moneys 10 auy of {ta of- ockhulders, nor to do busincss untl the pital bas been poid 10, (o making loane 1ae oflicers of suvings banks should nut be yoverned Ly the practice sumvtimes foliowed (pertiape 1le. #ully) by commercial Lunks. To luan muncys upon e capital wiock of its own bauk, or upon'the Muck of any manufacturing, tneurunce, or other ke corpuration, of upon coliateruls equally as 'able to” ductustion in valus pecially if their Valuo Is to be sseumed from the opinions of the owaere or from brokers' quotations.~is the S-uinlog of risks which abould nol be laken by Punky of suvines depoait, With euch banke loans 2@ placed with Jong (ime for peyment, vut with Somuercisl banks tho reverse I8 the ceueral prac- tice: aud uny fluctution unfavorabie 10 the sicurity N'rllu readily djustéd to the safety of the nank, borrower 1 a custower, who fs continually v Geposits, 8n who aeke further favore from ¢ bank. d aay neglect or refasal (o make bis uritles guud 10 4L bis 0w iojury Nod so with Yings bank torrower: his trig-actions wilh p Lank 1, generaily, a eugle one. aud be bus no Licrest ln aking goud any shrinkage, sud st the S time mbey biv payments wro dmht.- myde bia vs sy Lave biave so chauged that the ban fagreatly ihe L R s our Cowmil of opinion that the L'Ym'nlol U per crut uteres 5 deponitors fe Lu:rduu- 10 uy bauk, In tumes of bunn ‘ubeys pour fnlo it freasury, aud Gret-clas e extremely burd 10 obtsin. and, yol bazard e Lazandous luaus are Eaed, L witnd .l;\uulnl. ine buuk can have made o lnluu-lL ul\nulher :ouh‘!emwn' per cent interest L 0 “’J:"‘:i' it pust obtaln 484 frequently revults in chay, ge Of owoership of 10 propus wledied. and dhe bk % apparcint hu .lnnzlluu of the Fldehity, wmust be th 1ial of the viher side, w '« Wo tbiok the doroal 150810 nave ucs Rope of FealiclcT adatper por: e llrr Upon thelr clats than is furesbadowed i u:uu«:w".‘" ke Recenver, ades good wanage- and witiuut foreine the said of the saavls 0 mouey [ for its 10 per cent u 5 this. to tne borrower, 18 caiaustie, untl thefe full worth can bo chtained, and hy Keepine dnwn expense In closing the basinens. the estate rhonld realize to the doparitors 50 to 50 per cunt: and we take this opporiunity to warn de- positors agalnst the asle’ of tnele accounta at n mach leas figure than the above indicates. To do 30 will be u positive Jose Lo themaclves, 0‘.1;“ Recelver's reported Habilities were 81,315, 242 snowing & deficit of In tho asseta of the Heceiver might safely have licen placed mnch_ tugher by the apprainer, ens pecinlly of the real e d many of the so- cnlled **worthless ™ or ** impuired ' ‘Indebtedness will prove 10 be of mora than estimated value. In fact, we think that there rhould be realized from this incrense reater vam than anficient to pay ail the expennca of cloaing the eatate. Take, for instance, the bank bnildings and safe-deposit ¥auits, The property in lucated in that part of onr city where every day it inust hecome more and more valuable, reiardiess how it may be rated by appratsers. The deposit buildings, bank budlding, and vaulla have cost A Inrge amount of money: the vaults arc ndeijuate, the domand for them increancs every dan, and their suiccees a4 an institation of necessi- ty In Chicazo han becn secured, and, aa shown by the anawer of the llecelser to ‘our Inquiry, they not abtain an income equal (o all expenso of their care, and G per cent upun the valnation of that proprty. 'This enterprise, on the part of the bank olliciale, ‘was well deviscd, nad woald have nlti- mately been n sunrce of great profit to the bank. The property on LuSalle atrect, we think, hasleen etimated toolow. Ttis lacated directly oppasite tlic hew Court. Hawse, now in process of construc: tinn, and muat increase in value withont doubts alro the property on Madison street, corner of Filth avenne, has been estimated at §21,000 less thian wan patd for t by the hank. Few focatlans in the city are better than thie. Shnllar consider- atlona govern in much of the other real estate in- ventoried: and In the liands of an owner not com- pelled to saceifice Ly immadiate sale, swonli prove of far greater valne than is now anilicipated. An to the South Chicato property, the Commlttes think thint [rom the incention of the loan tho transact hae yieen an_knfavorable ong to rasning ite affairs much, and labl ponitors heavily if not handied with extreme good Ao Thera i« now a atrong probamility of an jn- provement of the aeliing valuv of the land4 at an day, for " reason of lmprovements ure belng made = mear “therelo, and a restoration of the fron works interests. Yaur Cominitteo have rugeested that thia and other real eatate, which can unly appreci- ate In sclling value by the lapse of time, Yo re tained nntil reas nie prices can be vbtained, Tn the cetimates of the Recelver of amounts af notes and valucs of same, ho hns nnl‘y taken face vaiuen, and notadded accumuinted fnterest, an shouit have been done wiiere_secaritie havo been ample, This, also, will Increass thu assets of the bank to u consiierabla extent, aud, 39 all wich notes contlnue to deaw interest, much gnin will the tesnlt. ‘The net value of the bods “sud " mortgaces lield by tho “bank in placed ot Ut 050, 20; of thia amount there was due al Lhe time of making the report of the Hucelver 8Hi5,050,0%; $8.820 will he due prior (o Jan. 1, 1878; &11,535 from Jan. 1, I7H, to Jan. 1, IKi) & from Jdsn; 1, 47, to Jan. 1, 1480 and 31 7,05 will_bo due during_ tho'yenrs ‘1880, INS1, and 1842, The collaterul and demand foaus are very larely duo or wiil become Que ot an early day, and Km" Com- mnttee nof only think, but are advised by the Re- celver, that there will be a second dividend deciared ot no reote day, The Commitiee think that the best {nterests of the creditors will e subserved by tho rale of afl secuzties where the date of pavment 14 later than dan, 1, 18785 provided tho same can be xold without sacrifice, ‘Antauch prejndice had reaulted from the action of the hank during it taxt month's histor, ment of claime. the Commitice examiy nal for the monthof September, Iiarecelpts during that manth—1st to 224, inclusive—wery $21, 86, - 18 1{a payments wore $108), 142, 05, muchof which was by nule of real catate ani necuclties in neftle. ment of accounts, ‘The Recelver las pramised that if he shabl find Uit any injury has unlawfully been douo to the dopusitora by sy eeftiement e will caunu the sume (0 be broight 1o the attention of the Conrt. An tonching the cost of cloring the huaine«s of the corporation, your Committee made verbal in- quiries of tho leceivor, and much it ten ones oy are hereto appended, “and ho states that be cannot make an estimate that would be reliable, We believe him to be honeatly work- fg I the futerest of the creditors, bt are of vptne fon that he ahould have eiven such statement of the cost of his work as would hetter enable ws to etimate the dividend which depoeliors sionld obie tain, Very prajieely, denositors are rensitive unon thissubject, Creditors have been eo frequontly wronged, as they think, by the exteavnzance and corenption of (tecelvers “that tho creditors of the Fidelity, an the only parties in interest, think they nhavo aright to know from the fecelver somewhat of the expense hy shall mako in settiing taeir burl- nessand returaing to them their moneys, We think hio will not neglect your interests i the col- tectlon of the asscts, nnd he should receive n goud sulney for his thite awd responmibility while so dolngs vui certalnly ho should state the maxfinumn he shall require, and ey what compensuation ho shall allow to his attorneys and cotunsel. Thg thonsands. of depositors of the bank. many of whon lnve their ull in hia hand ! n necessitous circuinstances, to these fnunirier, that the: anxiety In thiv mntter; and without tho informa- tlon nwked for, ovel ri or pensation ta Reeeiver will e scrutinized with at wcusitivonese, The Hecelver tel i1 18 his purposs to keep the expens ¢ lowest possible tirurg consisient with the host intererts of the estute,” but whilo we reallze the fact that creditors can wbtain comparatively little Information 0¥ to expense until his last ro- post shall have been made to the bank, we can only have full confidence when he shall have given s frank statement of his proposed expense, To the lecelver we are indented for most courteous troatuient an a Committoe, and to thy ullicern, atsv, for tho frankness whih ‘which they have given un information. We hiavo appentded hereto the questions mube mitted to the fecetver by the Cominittee and his answers thereto, which are to he reearded as purt of this report, Respectfully sumblited, Citanres E, Frurow, Au ' DzRirksoN, E. E, llutcur QUESTIONS FUT TO THE RECEIVDI. Following is the report of the interview he- tween Dy, Turpin ond the Committee, i which the latter Is always the questioner and the Re- celver Lhe respondents «2.—In your repurt to tho Court are there any an- scts thut aru liablo to depreciate [f not disposcd of st an carly date, and, if v0. Llvdey state what those sonctn are? A, —I o not think of anvthing. ), —Arv thers not many unscts which ure lable to uurreclatu invatue if delny {8 made in their snle? A.—1 think s0: Heceivars should have ample time 1o negotiate sales, [ am fooking forward to better thines ot no far clstant day., Q. =11 your report of seenrities have you given faca value of indebtedness, or have you given face yolug with unpald futerest added? A,—I have given face valuo ooly, except Incase of past-duo . —Nos, 143, 145, aud 147 Randolph street, Mr. John C, Ilninca says, cost abous $:115, V003 eetimato was 810,000, —u snrinkuge of Dby retaining this property for u time, — -do you not think {t might et 8210, 0001 A ,—1 think from 0,000 to §210,000, 1 think that the Safe Do pository 1s ‘rnnhmllnn luw, in thir, that nothin, wan allowed for the good.will of the businc: think the good-will [s worth at least 825, 000, that this §:5,000 shonid be added to our valua- tion. Of the bank building, I think the sppralvors’ valug abont the real alue, OF the Safe Deposit Dbullding, 1 Bink it 1a the best properly for il rating in the City of Chilcago on account of pro- spective Income. 3 Q.—May not tue Income from this property now be sufiiclent to pay expenses of s caie, {nxes, alc., uud U percont per Annum on yonr vulu-ug% A,—Yes, v0 far an tho Safe Depusltory, andolph strevt, de concerned, Q.—No. 78 Laallo sireet 14 directly opposite to the maln entriuce to the now Court-flouse. You have placed ita value ut $18,000. The sizo of the ut ) by B0 feet: Is bul that property worth §1,200 per fuat, or whatdo you thiuk it will ba worth within the cominz two yearst A, —1 think the appruleal uf this Jut about Its actual value at this thne, 1T other thiags 1mprove, that whil 1m- prave e, .—The nurtheast cotner of Madisen strect and ifth avenue, being thirty-five fect on Madison irect by elghty fect on Filth avenuw: you have ¢l itw valug at $91,500, 1t cost fhe bunk s not your estimaie materially below tice the property should be suld'fort 1f ary tw obtain its value should it uot be held for a reasounble time? A.—The property {s worth $ fout to-dsy. The valustion should 35, U0, —A»t0 the Prairle svenue property; we ars edvaluation Lo the bank own [ by the two valuatims? A.—This 1s on irie aveuue, near Forty-U The present val. uation ls igh enough. Q. ~Emproved farm Iands Iu Orland, Cook Coun- l{. 080 acres; this s sanl Lo be, with the excep- tion of about vluflll acred, the it of farin iands, and bas yood oulldings, orchards, andother im- n rovements, Yuur estimute Is 200, of A, 82,40 per acre, Cannol & customer by procured or this property st s luglier dgurer A.—I think the faro can bs eold for more money. Thers e about 200 scres of low land, which, ,huwnu. 5 susceptible of dralusge. ‘This property shuuld nog Le foiced upon the market. \\nurd accept a gond effer furiL, however, a1 present time, Q.—Turee low on Mllwaokee avenune near Cale Horots svenue; sour valustjon fs 3250 per lot. The appraivere for the bank estimated thelr salue very wmuch hizber. That bortlon of the city Is Dow very much lmprosed: the streot bas bees e vroved by o viuduct, ete. Bhould not this valua- tion Le incteared? A.—Have Do resaun 10 change lhu!\ o, . Q.—0t the property known as_the - enty, the Comwittee is_informed 191 tLe property valued at §4u. 000 (n your report. isctl DL Was i e l.luiuulu 1L Heee in D 0. 3873, sad snother valu- they al formed, i by Jobu Hoste, B, Calhoun, asod Mlr. Muicow was §35,000. The Commitiee to aleo jue furmed thatat an’ early day It 16 contempiated by reaponsible parties 10 cobslruct near therewo a large blaet furnuce sud o wal. manufsctory, sml a'su o reopes the large irou-works bushnces whicn bss been suspended. You huve pliced us valuation ou the above vuly §65,0°8. WLt by your pullcy tu sell this propeity so 800m a8 your appraised value cau be secuzid, oF o awalt the ru- sultuf contemplated luipiovenents alvcting fts salue? A.—1 Ginnk tuat the property shodld be beld for the folure—for better Guses. Woula pot sell ut aporaived dgares. Q. —01 yuur bouds and wortyages thera In o Sue and uye pilur o Jau. 1, 19 s U5, 401 Fulllug dus Lu 1573... : Falling due §a 167 Faiitag ann sn tab 11, ege. Total.. e ressaiene E2AL Y And other securities, This 18 at face yalue, anid the necurities are genernily at 10 per cent interest, 1f nearly all of these conld be lmmedistely rold, or at an early day, at thelr face value and sccrued interest, wonld it not be the best policy 1o sell? A.--1think tt sould be. Q.—0Of the Sept. 10, 1877, transaction, ~§101.« 082, 60, s there anything therein which indi- eatrs dishonests or any sharn practice on the part of the parly who gave the recarity? A.—So faras 1 have exumined 1 have found nothing that indi- cater dishanersty on tho part of Mr. Hainen, Q.—Of the eecuritien, ‘valued at_less than the amount of the dehte, and of thoe placed 8¢ ‘tworthless ™ and **nncertaln, " may nat many of them he collected fn whale or in part? A.—Farty- fine thousnud dollars §s necured by the stock of thabank, which is worthiess. Of” the balance s emall pereéntage may be collected. .~ yont with o make any statement as to any of the asseta or liabliities? A.—There are smine matters it are reverved for future mction, and which will be heara of prohably through the courte, nnlcax they aro otherwise nettled, Q. —I1 i ptaten That pacties who owe the bank have since it fatlure hronghl hooke of account and have antedated the teansfees, Wil you recognize 8% an ofl<et to any bank asset any account liablity where the tranefer was not madc on the books of the bank vrior to the fallu; A —No, {, —Du you think that had the bank heen ena- bled to weather the storm,—to have heidred the present, —1t could have, under the samu nanage. mnent, becoma perfectly solvent within, say. two years orless, orwould [t have had to succumb, unless the manncement had been changed? A, —It cold not. The rate of interest paid woulid have eaten np the asscts of the bank Iucvitably In tha Q. —Will you give the Committee the ‘names ol FE!ID]I. indebted to the bunk, nnd the character of hele recuritics, In cases where the value ns ap- rflmr«l in your teport 14 Jeas than the amount of ndebtedne«sn? A.—1 will dyno with the reserva- tion that the names of the Individual debtors to the bank be rescrved from publication in the news pern and from embodiment in your report. Q. —Much sensitiveness han been shown as to the Wirt Dexter and C. A, Uregory clalms, May we ask you o glve the Committes the facts? A, — In that matter the Court dirccted the payment of the clatm, 1do not know the amonut of the claim of the party employing C. A, Uregory, ot- lurnu{. The Judie sakd that the theory woild ve that the attorneye were actin for all the creditors, Q. —Also. it liss been teported that scttiement bas been made with N. 8. Houton upon terms other than hylmrmvnl In cash, while the valuation an reported {ndicated the eccurlty to be such that It would bring smount of Indebtedness, May tho Commltice ark for information 8% o the maticrt A,—I instituted Inquiry 2 to this matter, and sati«fed myself that It was bestto take th properly: anid dil so—the prop- erty bieing appraisud at moro than the debt, and In-, .cluded nil the property held as sccarity on the clahm, Q. —\What, palary, per annum, would bo a falr recompense for your services? A.—{t is too soon to samwer the question. —What salary should your attarney get, In addition to the clerical cost of making out papers, ete.? A.=Thu fees of the attsrney are sl sub- mitted to the Court, nnd paesed upon by it, 1 ean- not xecure the attorneys | prefer under salary for vice, Jorvice Q. —\Would you think that an advisory commit- tee, from among the crealtors, but without come ensation for services, would ald you or ome arrass you in your work? A.—} would be glad ot tue advice of '8 Judictous committee, but could nl»l a8 ltocelver agree to be buund by suchnd- vice 1n what ‘mnurl Jo you advertise purchasos ? A —l the Post. dent, Y erty eannot bo aoud at such wale for at least tho amount at which you have made aporaisement? 3\' —I hava recelved "an order frum tho Court to v 80 (2. —Ara there other natters of which you wonld like to xive information? A.—There ‘are romo other wattera that are reserved for futnre action, and which will be heurd of probably through the courts, 1. —What leagth of thine do you think wiil bo re- uired to acttlo up the aflair«of the bank? A.—1 sntend settling up with a good deal of I\rum)l neas, A lun'nllmruuu of the clihny can be closed up and adjusted within two years. Q. i sou give ihe Commitiee the amount of stock of the buns that 18 now held for security for debta due the bank? A.—About 310,000 Nov, 14, At the concluslon of the reading, Mr. Felton took the chulr and demmnded to know what the meeting provosod to do with the report. Atter me 1Iluw conversation the report was nce epted, ' Mr. Evans protested strongly against the pay- ment of counsel fees to Messra. Dexter and Uregory, Thuse gentlemen were employed by private persons, ainl Al not In anv sens¢ repres sent the depositors as a body, * Ile belleved that trust-funds were viten wtsmanaigoed fu Clieago, and that this was a very bud casc. Bevernl inquiries were made s to the s, on sald that the Commlttée Were estopped from pursuing this subjeet by the romise wade to De. ‘Turpine Without makinge hls promlse they could not have ebtained the information from the books, In reply to Mr. Dawson, the Chair sald that the Committes had been welven the names of the persons tmdebted to the bunk, but were not able to placs a valuatlon upon such asacte ns came umler the reservatlon, Several gentlemen expressed the opinfon that the names of oiliera In the bank who, Jiad conteacted an fudobtedness to §t should be pub- lished, but all agreed that It would be tmpolitie to press the mutter In regard to outside bor- Tuwers, On matlon, the report was adopted, and the Committee were made permunent, with fn- stryctiona to look atter the interests of the de- positors, aud to call o meeting atany thme wlien necessary. The Chalr eald that the Commities consldered that Dr. Turpin intended to act houestly. They believed that the appralsal of the bank buildine was much teo low, but they hadd got the Heeelver to bind himsclf to the poliey of holdiug on, Mr, Evarts wished the publle could under- stand as he did the outrngeous sacrifices mado on trust-property i the hands of Assignees and Receivers, 1o did not believe In the honesty of tho presont day, The courts were not to blatne, for they ouly allowed the regular fees, but they were the fees charged by first-class lawyers, . 1le did not helleve in ullowing a Ars 48 lawyer 1200 or 830 1or forccloslug mortguses, or other work which was actually done Dy agents or clerks, At thu State Savings the liwyers had already eaten up hwlf - tho cash deposits, The Committeo could bo of great nd- vantage to the depositors by keepine a continus al wateh over the progreas of the luigation and court business generally, o Lelleved In the report, amd had opposed the motlon for the ap- pomtnient of u commission to examing the proverty, But for the specinl effort put forth, the Commission would have had o perpetual ap- pointment, with fees pructically unltmited, Mr. Arndt was well aatisfled with the report, and hoped thut the Committee would duvote s much thne as they could to the bank alfuirs. e thought they should be compensated for thelr lavar, Mr. Felton sald they did not want anythingof that kind, The Committee would not like to bo constantly around the bank, unless Dr, Tur- pin should urrcu hia willingness to accept thelr co-operation. As to the rumors of a cloud on the title to the Calumet property, bo under- stood that the uul{ question wus one us to an ulleged dower right, and un attorney had been employed to tako evlicuce on the subject, The Reeewer did not consider that tho matter would emburrass bim at all {u dispusing of tho prop- erty. The Committee were requested to call meot~ Ings of the dopositors ywnunll\-nllr, and to sug- to the Recelver that in advert| shn.'\uru}xny for sule he should give a full deacription of it by name and number, The meeting then adjourn- ed subject tocall, MISCELLANEOUS, THB ATATE SAVINGS. Collector Harvey was busy yesterday morning in hearlng evidenco and arguments on tho ques- tion of the liabllity of the State Bavings Instl- tution to pay Qoverninent taxes for going out- side of & savings-bauk business, On belnlf of the bank thers appeared Judge Otls, the Recever, Mr. J. L. High, and a number of depositors. The Kevenue Depart- ment clalm the bank {8 bebind hand about $21,000 for taxes from June, 1874, up to August last. Messrs. Guild and Bulkley, ex- olticers of the lustitution, also appeared iu its behalf, and gave their views as to what the custom had becn heretofore, The case was not concluded, but it s expected tho bank wil be excused from payiug the tax clalmed. TR COOK COUNTY. . To the Editor of Ths Tribuns, Cnicago, Nov. 15.—Can you tell we, and your reacers in gencral, where the ofice of (ho He- coiver of the Cook County 3avinze Bank 1 at pres. entr | bave tuyuired ot severs] banks, etc., but could get uo inlorwation. Also, 1 think your readers would like it it you wonld glve sn account of the bank's ailairs as tucy stand at prescut, 1t iwsome Liwe since by public bas hesrd or read anyibiug sbout 18, LKL The Recetver of the Cook County Saviuge Bauk Is Mr, Carl Droyer, whose ottive is Room 4 No. 77 Clark street. The lisbihities of the bank are about $150,000, -und it only assets o cluim for $150,000 uyuinst Mason & Slayter, mewbers of the old tirm of Tuylor & Wright, artsiug out of discounted paper. This is fu litiation o the United Ttates Circult Coust, sud a docision 1s expected lu about three weeks. Besldes this, thero Lo the Mability of thy stock- holders, of which about $7,000 {3 good. As both these claliuy way be contested to the lust diteh, the prospect ol ‘an fmmedlate dividend 13 not fiatteriug, but U they shiould be collected tha Lank will puy uearly iu full, MARINE NEWS. Still No Tidings from the Missing Schooner Kate L. Bruce. Divers Will Examine the Wreck of the Nchooner Magellan. Vessels Laying OF Their Clothes for the Winter—Lake Frojghtsa—Port Notes, Eto. ABUSES ON TIIE ERIE CANAL. The Buflalo Agitator ie publishing s sctles of ar- ticies on the nbuses to which those cngaged in water tranenortation via the Inkes and Erle Canal arg nabjected, and in Ita last week's Izsue gives an cxpose of the manner In which business Is con. ducted on the cannl. It eaya the boa', on leaving Buffalo, must cater to tne canal-tag ring, which has a achedale rate fixing the cost at from &1 to 30 for n tow to and from the elevstor, Then the In- npectors have to he **beered up.! even thosn who do not measars the hoats, which nre allowed to draw but mix fertof water, The clearing offtice fo closed In the evening at Huffalo, and those who are nnt ready to start by So'clock are compeiled to walt until next lmlm(ng. Next comes A dangerous **high wall,* and bridges at Gencses and York streets, before tha boat gete ont cf the eity. The milling budiness at [Slack Jock robs the canal of waler, and causcs g cngrent and low water, wnich tmpede mavigatton, At Tonawanda the ecl-grass commenrcs and hinders the ease tlow of water. Sharp and jacu t al Lockport, and render hoatlng dangerons, and & hridve without a ,n'nr:l-ml 25 cents 1o €4 per ton_comini b, depth of water should be weven feet, but at Lock- nort It commences to get shatiow, Anothee ahure in the welgh-jocks at Htochester, The rollector and. swelghmaster who attend those Inetitutiond recetve fram £700 to 20 per aeason snd tax (he buatmen for *sheer moniey. " The welgli-lock nt Syracuse ia elafmed to be un obatruction, the swing-briggo abutments at Albion. Ruchester, and Syescusy are 2 nul=ance, ich were constricted at the mstiga. tion of t nal Iting, . At Utica a welshi-lock un A Rharp curve annoys the boatmen. At the Sixteen Locks 1t 1s claimed that oilferere in the employ of the Canal Iinx etenl from the boata cversthing they can jeet thelr hands on, and every Captain who does uot piay 5 or 10 centa for o *'awell ** bas hie dvecke torn or suffers some auch atrocity, They get the levele tou high or too luw, au that the bust atrikes either the top or the bottom. The Licaident Enzinecrs, Divicion Enginecrs, Surveyors, Canal Apbralaers, and Auditor, it {9 claimed, are of no eervice, and fuether that thronch thelr inetra. mentality much of the depredativus of the Canal Ring weee ellected, The uniform MINOR ITADPS AND MISHAPS, ‘The Toronto Globe of tho 17th eays: **Tho schr T. C. Street, from Chicago. witha full carzo of corn for thle port, strack on the shoal west of the Queen's Whatf 1ot night, - She got round the red bitoy all rlght, but fatled to make the channel, and ran quietly on to the bottum, about 400 yards weat of the pler, The Citr of Montical went up this morning to take off part of tho cargo, and she will be got off without damage. ‘The achr L. C. Butte will lny. “r at Creveland, Sho was laden with cosl at Biack itiver, hut the tog in towling her out met with an ncrident and the versel ran aiinat the pier, damazing her to the extent that the carzo was unloaded, snd sho is now in whuter quarters, ‘The kchr Clty of Shoboyunn, reported miseing, arrlved ot Sheboy 2an all ngnt on Friday, 1 Wik aLanchor at the Beaverd, ler Cantali, Aniderron, ways o was 1ot In company with the sciir.City of Toledo whon the waster of that craft **last sgw hy The ectir Moonlight ran info Milwaukee Sunday, leaking. She has a carge of vats, sniped from thin city to Bnffulo, A Juto dispateh from Port 1luron states that the rehr Peatithoo was dismasted on Lake Huron, and the i Glalintor hid gune to hoe arsistance, 1sland, "flie achr Delawaro 18 ashore at Hersew's St Clalr Jtiver, THE MIRSING SCITOONER BRUCE, Noadditlunal nessa has been recelved of the missing scnr Kate L. Bruce, ropposed to have foundered off Thunder Noy Ielund, Lake Huron, and all on board drowned. It Is the general opin- jon here among veesel men that eho fs lost and ber crew with her. Eleven days have ciopsed since she was seen off Chehoy.un, and if any.of her ofcers or crew had cacaped, in the event of her having foundered. they wonld have reached some place on the lake shore and reporte ‘The wrocking of wo many eanal schoony has led Lo n goold deal of dlscuwwivn regnrding that cluay of veérsele whose hulle are built ke hoxe, —broad at the battom, ~witha view towanl obtain- Ing as much cnsmcliy as possible. The wree's of the lirnce hne adided much toward the agitation of the matter, and it seeme likely that rome reform {1 the conatruction of canalachuoners whi be made, i, Indeed. any more are balle beforo the Welland Canal Is enlarged and tmproved in 1830, THE MAGELLAN MYSTERY., Mr. Isuac Cockburn, of Toroulo, who was half- owner of the 1ll-fated schir “Magellan, nrelved hero yesterday, and cousnited sevoral wroekers, amang them Messra. Church and 111, for the purpose of making arrangements for an exauination ol the hull of the ves«el at Munitowoc with o view towarl learning Ita condition and endeavoring to discover whether sho was run down by another craft or founacred, Also to obtaln lIII{' movable portions of thowreek that may be valuable, The Milwankee Sentinel of yesterday contalned the followlng: . Ghicago Inter-Ocedn oponly charges that the i wea cut duwit by tho prp Jusepl L. Hurd, o Teopold & Austriana Lake Superlor Linw, Tl 0 aunears 1o he wi fact that ¢ rt galetly raa inte Manitowo ou (16 Bt of tha disaster o atrafgliten up s litle, ~a very sendly thins on the part ol Capt, Lioyd, —aid as auletty tovi Ler”daarture, " Ouly e’ sud nutbing — TLARE FREIGIITS. Cuicato, Nov, 10.—The market was quict, Several charters were reported, which, it fs under- stond, were made 1ato Iast week. There was some demand yestorday for stoamers. Tho charters ke 5,000 bu wheat, 80,000 bu corn, ikI, 000 bu oats, and 47,000 bu barley, ‘To Huffalo: Props Colorado, Japan, Fisk, wheat, corn, oats, and Darley, And Acht J, G Masten, wheat, wnd A, Shorwond, corn, all_on private terms, - To Col- Hngwood: Harees 1, May, Severn, au uhan - #henu, Wheat, corn, and barley through, Bay Btato wan churtere for barloy” fram Milwaukeo to Tulclllw at e, [Ihe Donsldvon goes to Milwaukee for wheat, Lumber rates from Musakegon weso 83 per m yesterday, The schr A, Moshier obtalued 32,56 per i for 4 cargo of rafied lnmber from Ocouty to this port, Vessels are ruther ecarce, many of thew having lald up for the winter, and’ thuse on tho murket aro nat at all anxlous o make another trip unless at bigh rates, oL sehir Made BUFFALO. Burrano, N, Y., Nov, 10,~Freights dull; busl- ness cloaing up. Chartors—J, Maria Beott, coal to Detroit at e per ton; 4. W, Holt, 00 tons coal to Detroit on private torms; Scotia, coal to Chi. cago ot 00c; Willlam Home, coal to Windsor ot We: E, B. 1ale, coal from Erio to Chicazo at §1,00; and prop Garsett Sauth, coal to ‘Toledo, carances—Trops Tortage, Chicago; ¥, Kell Jarvis Lard, Kenoslia: Cominodaro, Potomne, Milwaukee; W, L. Wetmore, Chi- Hay €ity; Canivteo, tireen Bayy ‘hlcato; Nebraukn, Chicavo: ldaho, Chis irs lolivia, Chicago; M. I Warner, Chi- da L. Keith. Chic 11, Johnson, Nacine; . A, George, Chic Tandora, Fofedo: G, Sinith, Toled . Tilden, Cleveland; Malted, Chicago: A, M. Petoreun, Chicagos Fu L. Daus au. forth, Chicago: Brunette, Chicago; vargea Victoe tiaand A". ¥, Maltlund. 1ORT HURON, Atecial Piepatch (a The Chicagn Triduns. Pont Hunox, Mick,, Nov, 10.—Down—Props Pucific, Nebravka, Muele and barges, C. Spade- man, York State, Buperlor and consort, Allezheney snd barges, Antelope and barges; schrs Trinldad, Olarles Crawford, Mineral State, Thomas Gewn. Up—Props Ewpire State, Scots, &t Louls, Waverly, Staruccs, Weastford, Adaska, Flora, E. E. Thdmpson snd barges, Bay Cily and barges, Mayflower, and Orphan Joy: schrs Willlam 1l 5'"15'"1"“ , Elizabeth Junes, Folger, Granger, T Wind - uvntlwe-l; quiet, Weathercloudy, with » light snow, TT:« schr dfemasted on Lake Huron proves fo be the ‘Fhomas (iswn, which was towed in this even- ng. Al bier woars are gone. She will be wwed to Uleveland by the wg Gludiator, TLARBOR IMPROVEM TS, The plane contemplated by the Chairman of the River snd Harbor Committea at Owen Sound tn- volve cribbing vetween the lztthousce, deepens ing the chaunel, cutting oif one or two points on the bauks, making land at the marsh, and gon- erally muking the eutrance to the river accesivle to the largest vesscls on the lake. A by-law will be submittied to the ratepayers for $13,00010 car- 7y wut the plaus, Trenton Harbor has been undergoing extensive dredging this summer, Mr. Eingsford, (overne ment Euglneer, has inspecied the work. ‘The bay bas been dredged t an estent of 2,100 feet by 160 feet. whih ten fect of water at the low-water wisrk, Now the quostion 1s to get the Maeray Caual mude, which would be of tho frst impurtance (o the bar- bor.—ZToronto Glote. PORT COLBORNE. Burrato, Nov. 10.—Veasely passivg Port Col- ‘bornu lock fortwenty-four hours ending at 6 p.w., Noi. 17: Eastward—Darks Typo, Milwaukeo to Sacketts Harbor; Buindeer, Detrolt to Clayton: sshss 8. T, Aswater, Henry Pltzhugh, Detrolt to- Oswean: A, Drwey and [L Everlelzh, Toleda to Sacketts flar- tor; New Iominton, Eincardine to Kingston; O, M. Bond, Miiwanxee to Osweyo, Westward —Park= Sligo, Kingston to CI Myn«otte. Chatlotte to Milwan #ehrs C ek, Charlatie to Detroit: L. Sealon, Charlotte to To- Teda; Garibaldl, Toronto to Erie, nd; MILWAUKEE. Srsetal Dispsich to The Chicags Tribune, Muwavkre, Nov. 10,~Charters—To Buffalo, pron Kershaw, schr Donaldsan, 78.000 bn wheat at Sige. schea Ballentine and Monre, 05,000 bn wheat throngh; to Toleds, ache Day State. 18,000 bn barley at 43 to Oswego. schrs Weal Side, John Magee, 4,000 bu wheat at 10c. o safiure At this port strock to-day, demlnd(ng 21 per day, They “were qnlet an nnlmx. hin ;mflnz the Captains acceded, and the Geet left —— MARQUETTE, Special Pianatch to The Chlonan Triduns. Manqusrre, Mich., Nov, 10, ~Cleared—Prop W T. Graven, schr G. W. Adams. Parsed up—Props Winslaw, Missourl, “Vhe prop Manistee, hound down from Dalnth with a carcuof flour, had to throw overbuard bo- tween 200 and 300 brls of four, when off Standard Hark 1ast night, on account of & heary ses. Wind south, ' Weather cloudy. TUE CANAT. Untnaeeont, Nov. 10, ~Annirzp—Admiral. Dresden, 25,000 {t lumber; Cataract, Utlea, 5,000 tm corn, 271 b 0ata, 36,009 1bs recd. Creanzn—Chicago Belle, Uenzy. 08,017 ft lum- Inth: nrop Kankakee 000 L Inmber: Atlantic, Kankakee 030 ft lumber; prop Moutauk, Loc od wheat, Rt Soectal Iisnatch to The Chicagn Twibune, Enr, Pa., Nov. 10, rrivals—Yrop Anzons, barges C. 1. Wecks, Keeprske, Bay City; mebr Schuylkill, Chicago: sche Portage, Port Dover. e partures—Scnes Schuylkill, 8. V. R, Watson, Chicago. DETROIT Scecial Diepateh to The DreTnorr, Mich., N was selzed here tu-day by the United States daz. thal oo a libel for gebt. NAVIGATION NOTES. Cnicano,—~Tha Dessie Boalt, a inmber.lagger that was reccotly In tronble on the east shore, is in port with a cargo of lumber....The prop Indls made bher lat trip frum Buflalo t this port In three days and nine- teen honrs, ‘includinz 8 stoppaze of four hours at Milwankee ... The Peshtizo barees have made torty trins since the 10th of May. brinzing In AN 000,000 feet of lumber, besldes Isth, cté.... The tug Lunle Dole went into dry-duck yesterday 10 have n leak stupped . arranzoment wae ef- fected yosterday toward settinze the Gardner off the heach at Lincoln Park .y, A decree In favor of A 1 nzalnat the' wehr Newsboy, allowinz KU, wae cutered yeeferday in the Federal Conrt apt. Nelson” wonld ‘like ta learn the whereabouts of hlltynwl-hu at, that some one piek- el up about the time the hark (ireat encountered the 1o and struck on Park Meef ...The brider leadlns from pler to thie beacon-light nt munth of the river, bas becn line stretehed to guard azajnst aceldent..s.The sclir Gearee C, Finney will make one more trip to Oswezo §f whe et an'early chirter, and will lay up nt that port If sho goca there, Otherviss she will remaln here,,,,Juite a Jar.e_ nuuiher of vess wels have latd off their clothes at this post and gone into winter moorinze, those that wero stripped yesterday were the Lark Fuvorile, schrs ite; tor, Cuba. Barbarmn, Iver Lawson, A Bradlev, and Grace Murruy, and scow White O soeolustice Hain purchased the g Trin from Capt, Greenhalzh yesterdar, an whe will remain In serelee in this port under the il of the latter, The eraft tstwo yrars isnn excellent and well-fitted one. " The conslderation w24 not s.ate 1 hawsi, Capt. Patterson, h much the worse fur o thit with the stnr Aui ok neo. The latter struci: et on the port quar- r. and damaced her to the extent of 31,01 will go into dry-dock here for repalrs, A Ja will probahly result from the oce nt, n yacht. namer OTnEn Poits —A aplendud st the ‘T'riant, ha< areived ot lofdals from New York, bound forsorie Western part....The prop Comitiordore 14 I the dryedock at Huifala for cen- etal ropalen nmd o new whee LW, Miilur, of Ouwea, has nurchased o quarier interest im th steam-baree Petrenelle from C, D, Howard for 50, At Milwankee, Jobn W. Edwards hus wolil o half interest {n the JittIn schr Hannah Eir to Charlen Tk for $100.,.. The ol fe Red- Ington and steam baree i1 J. 1fale 2o to Cleveland to lny up, and the mebr C, 1. Burton will flnd . winter quarters st " Erie ..The rehr Chivmpion hae traded with Buffule wine years, and has nover had oceaslen daring that pertod 1o enter protest....The schr Mary Jane, recemly ashioro at Turtle Lizht, has been repaired ot Toledn at an outlay of $2,000....The Union Dry-Dock Company ot Buaio have lajd the keel for two propeilers, une for the Union Steamboat Company and one for the Anchor Line, lu cost apout £100,000 ... Buffalo Conrler, "17th: 1t was quite wenernlly reported yesterday that the owner of the tug W. I Crowcll had offered to bt $1,000 10 $500 that his tuz could beat the tuw Ao B Wrlent u mite on hourli u race from Bufato to Erle, The wager was not faken. PORT OF CIICAGO, The following were the arrivals and clearances for tho Wwengy-four hours coding at 10 o'clock Jast Stmr Muskegon, Manitowoe, sundries: irand Haven, towing: Muntana, iufe 3 . C. Brittain, Ssuzatuck, sutidrles; Fisl Tuflaln, deless Colln Camptwll, nzton, lumber: Ohlo, llufalo, cosl; M. tiren, fiee, lumbory Java, Bugtalo, sundrieet schifs $. 3 vis, Muszezon, lumbers Clty of Toledo, Muske: lumbers Transfer, Girand ven, limin 1an Girnud Haven, tunbers ber 1, winnil, Mai Lultng Tuinbers . 15, Martin, 10, Tumbh N K, South Chieago, Luhty Jo M, il Muskeson, lumber, Kate Hinchina, sture ot Dy, lumlers U, S, Grant, Alaska. poatat Williaim tiTan 1 Huven, wids L' B Khepard, Blufiton, 1F umherman, White Lake, lum! Adriatie, Wiite Lake, lumbier; Gotden itule, Menominee, Jum- bery Mausle . White Lako, lumbery 8, J, raw . L, "Ford Wiver, lomber: 3, W. Rrown. 1iuf Jumfers, lelolt, iar's Pler, ‘posta: G0, Eilen, Whits ke, tumheri Little Helle, Whits' Lake. Jum- g G Neaver, | “Muskviun, lumber; Coclitn, Muskiegou, uinbers _Aunfe Vought, Humels, camly . - Drsden, | Wit Fake, wood; Tvenistor, Whita'Lake, Tombert Edna, Girand ' Haven, Lewie Day, Monomigee, lutiters Eiva, 1ol 4 Dulaio,” corlt Mereury, Luding: ok Jlawk,' Grand Haven.' Tumter; aunce, faibery Nopih star, Pent ri Plivenix, Tunibers Windwr, Inuiz e, Lulington, uabery Lf e Tunatuty ity of Uramt iiagi e iber, scows ' Ventare, - flon South HAVelL, oo hr A, J. Mowry, Lincoln, 50 bris |mine Suakexdn, i i ndrieng sl i sundrivsy Deet, 50 bris Atun [1arbwr, 104 {atkinaw, 106D 1 sche 7% brls Betlo Jiraw, b ) park, a1l s ol taln, Saugstuck, ris Purk, 000 it fard, and sundrics, " SILVER. THE VALUE OF KILVER. To the Liditor of The Tribune, Cutzcaco. Nov, 10.—1 have been much intereste:d in your articles on the siiver dollar, but there be one Yofint abuat tho eutar of thy dullaf which you have ot touched upon that [ have auticed. Wiy pot lisvo the silver dollar at ur ralue, instead of 02 centy, by putting In oue-tenth alioyr Why not it the nlloy? Why diminteh ihe valne i o way? W you pleaso exvlain this (0 the pub- et 4f the silver dollar ts wnde at par colue tere can be e just abjection Lo it ae a clrculating vic. dium; and {7 it is worth only U2 cent,_why shoutd it pass fur more? Ixnquinen, (1t Is a misconception that the silser dollar s only worth & cents in gotd, as thero fs no silver doMlar of the United Statcs. There {s no legal- tender silver-dollar in this country. Therels no such moucy as a Jegal-tender sitver dollar 1y this Republic, and has not been since 1573 Tho nearest approach thereto Is the half-dollar, aud the quarters and dimes. Two siiver hall- dollars, contalnlng about b per cent less metal than onu of the old silver dollurs, has a pur- chaslug power of 97} cents in gold, Thts Is becauso §¢ {8 a lezul teuder, True, it 18 ouly 8 legul tender for 3 fu ouo transactiou, but that 1s suficlent to make ft worth 03X cents fu guld in the purchass of auvtbiug fu moderate quantities, The bullion value ol two Amerlcan half-dollars (n London yester- day was less thau §7 cents; but there were nearly forty milllons silver ball«lollurs cireulat- ing througbout the United States aud Torrie torius st alwost 49 cents each vf gold purchas- fuyz power, ‘The subsidiary sitver colns In clrgu- lation (fncludivg the old colus) nuw smuunt to §40,000,000. ‘They are used tu discharge willivus of debt cvery day at thelr faco value, sud to buy goods and pay for labor to the awount of tous of mililous of dollars per diem, Make the silver dollar o legal tendor for debts of $100 aud under, sud at least 100,000,000 of such coins would circulate frecly at the same value as greenbacks, vis,: 973§ per ceot of gold, Mako siiver dollars a leal-tender for all debis, publlc aud private, to the awouut of $1,000, and 200,000,000 to 30,000,000 of theuw will circulato at tbe value of greeubacks at least. Wo say at least, because i grecubacks should tumble down agsin to Y0, or 75, or 50 per cent, the siver dollar would wtsy up trmly st its bulifon value, which st prescut 1 about & cents. If the silver dollar were made an un- Hmited legal-tender ft could not, in the nature of things, have less purchasing power than greenbacks, It would necessarily be worth as much a8 them, and could not be worth less. They are worth 973 cents, and so woull legal-tender siiver dollars be to-day if we had that coln. But the sliverdollar people clalin more than this, They insist that if silver were remonctized In thia great country its bullion value would rite until it equaled gold In valie, It aid once before, and can do so again M given a chance. Our correspundent seems to think [t fs the one-tenth alloy In the silver dol- Jar that reduces its value to 02 cents he appears nnt to be aware that the gold colns also contain onc-tenth alloy, It was the demonetizing ot miver as legal-tender In Germany and In this country that has broken down its value in the bullionmarket. Germany hassold sllver and we. have refused to buy or uee it as money, hence its decline in Eurone in metallic value s com- pared withgold.—En. ) ¥ THE SILVER DOLLAR. To the Fditor of The Tritune, CnicAao, Nov. 19.—You will confer a favor tipon & large number of regular readers of your paper by giving them Information on the follow- ing two points: You have frequently stated in your columns that the demonctlzation of sfiver by the act of 1873 was a fraudulent trausaction. We would like to have you tell us whereln the fraud con- sists. Was that part of the bill, whercby siiver was demonetlzed, not printed beforethe bill was put on Its passazel or, if printed, was there an oinlssion by the Clerk, or any one else, to read It aloud to the members before the LIl passed both Houses? or, If there was no such omissfon, was the President tricked Into signing the bill! Were there anv misstatements made to him to induce him to slgn itt Iushort, what particu- lar act of commission or omission was it which stamped tho clement of fraud u ou the transaction? And where dfii suchact occur! In the House! In the Henatel Or before the President! What person or per- Auns wus it that contnitted the fraud!( Give us their names, so that thev may be covered with all the infamg they deserve. It zecms to us that the mere “want of knowledze by metnbers of Congress what they had voted for, and by the Presilent what he had algned, 1s In itself o ladge of fraud, I the menbers aud the President were not deprived of the usual meane to Infurm themsclves as to the provin- lous of the uill, the clrcumatance that they did not until lome afterwards ascestain its” real meaning and effect has no temlency to prove any frawd in connection with its passage. Please snawer at your carlicst convenlence. and ohlige yours, very respectfully, Pueay STEIN, THE ORIGINAL CONTRACT, . Ta the Editor of The Tribune, WeeT GROVE, Ta,, Nov. 15.—~One thought on the mouey question. The exclasively cold men say that sliver has depreciated o value, and therefore ft would not be rlizht to pay a debt now with sllver. notwithatanding the origlnal contract said * coln,"'—silver beinz money at that time. That is the tnoney-loaner's misfor- tune, Il will not make ne much a3 he wonld it he cautid gret his pay fu gold now, 1f sliver has ur{l.n el rold has appreciatel,—zone wp,— while evergehing elee has “gone down, Would it not be gross njustl e to make the borrower by In anprecfated moncy, having o greater rels ative value now than it lin! when he became n debtort Why not stand by the original eontract and restore ihe sfiver dollar us it wa=1_These L’-lell'l‘"l)fl'( are a “hizh-salllue set.” Havinge a *teorner ” on grold, they have the mlacity to clalm o monupoly’ of “wisdom and justlce. Audacta auper justitiam teiuny hat Vespucts 1ully, J. J. Dickeox, —— tellable help for weak and nervons sufferere, Chronle. panini. and prostrating dlseases cnred without medicine. ~Pulvermaclier ciric Belty the erand deshderatum, Avohil imitatiuns, ook and Journal. with pactlenlars, mailed free, Ad- dress Pulvermacher Galvanle Co. , Cineinnutt, Oftlo, The HOOLEY’S THEATRE —- Masaniello, Last Five Nlghts of the Grand Oper wl e Urand Opera. Farewellap- PAPPENHEIM—ADAMS, Epecial Enzairment of New Yori's favorite Maritone, SIGNOR TAGLIAPIETRA. ‘This (Tuesday) I'Z\‘anljm.‘, Nov. 20, at8, Grand German pe MASANIELLO, (Ftrst and only time, ) AMUS EME The Princom b \MInS ALEXANDRE IIIMAK. Finella (the l’zm'l Glrh) by, A '3"”’ “)},MIIN!IN. Ma ':llli"ll .1* Al sl Fotrt byt Boretla To- 3 W . ‘el m"z;l?.\.\glv HE'E‘\‘ Y FI:-‘I ’-{'l: 'l’o;'rt o, fu Chlcagy (in many uven's Slus- FPIDELIO--(In German,) MADAME AT Jotueriunns. Leonora, fuction of Tires Speclal atteation lavalled to the FIOELOH on Wednesiay vens linmioral work, ** FIDE Zveniug, duv. 20, 8USO'elock, ud Chorus and Orchestra, Musical Dircetur aud Conductor. 0F., 1477, AL 8 b, m.—Extra Night, Denetit of Mr, Charles Adams, LOHENGRIN, Tirst jniat appearance (ia thisopora) of HADARE PAFPES UKD ML CHATLES ADAMS, Friday Eveatog, Nov. 23, at 8 a'clack, Opera hit, And e Gl Beneit of .\!udnmn‘Eugenle Pappenhelm, LUCRETIA BORGIA, G TTALLAY) Lucretis Borgia., LM B IPAPR Staitvo (Ipind ! {h\,;‘,'p‘.j“;.:.:.?’r,\' i) BHETIEA HOOLEY!S-=-¢ FIDELI0,” Memre. QUINLIN & HOOLKY. ..Props. sud Mansgers. EXTRA ANNOUNOEMENT. To-marrow (Wednewlsy) Evening, Nov, 21, at 8, wuctilun (i Inany years) in this city ot Beethot h’:'n} Masterwork, 1 DELIO--(In German,) 1 Mas. onura, MI PAPPEN 2 i critice of the 0 berformed, as Madams eutest Prt, o Fidelio” now st th Vok Oftice of Theatroy McVICKER'S THEATRE, Every Eventog and Baturday Matloee, LILLIAN; 1ay replete with HEAR' IR n;{'nmcu;l; Xren Amnerican 1 1 LR . Caat, fis by WAVERI J. 1L TAVERLY, ! aw Pruutietor and Manager. T (3lg Week of the Eeason) SLARS = TWO G WO 1 GREAT "PLAYS. 10aco's Farorite, thy Cubiau myiph. MLLE, Z0E, n the FRENCH 8PY, Alpe the lienow nbd 1ero of the Plalie ASEIT X e n his Weateru scuut Play ofithat name. Ouly 1Link of e nigit. Metinées Wodneslavs aiul Satur- days 3 i Next week, Mekeu ltankin Combina- toh Hilia™ g METHODIST CLURCH BLOCK, Car. Clars sad Wahingloo-su. ABBY BAGE RICHARBSONS Lecture to-nlght st 8. * Pre: 1] rean {irams. i rleiedslor ¥ Lacturea 63, 185chers dad Schol: . Tall e e auom wil deliver shis course st Dearborn (aery, Watash-av. sud Tweaty-secoad-ss., Tuesdal ‘Baturday siterucons &t 3:54 Degioiug Nove B COLISEUM. This Afternoon and Eventnz Sid France's Greas Drama, I TEE WEB. AL TRNEFT, ANNME HINULE, CARRIE LA- VAI&!\tlE.,)lAIIEL PEARL, HHN GILBEL \IL‘:I‘L COIRA AND M, AI'B"!\. HULNE and C| DIE o OBERT MACARE, Fourlecn sdecialt e mfllu‘l.l Pastuwiwe, sad sa in@ease Ol HOOLEY’S THEATRE, Extrs Angouncement, l::u:a:(. Nov. 26, Firet Ap- M1s3 MAUGIE MOUsE axp 1o *STRUCK OIL." with ity C. WILLIAMSON York Cuat. - FrinBANKS' ATANDALD SCALES ©OF ALL KINDS, 24HKS, MORSE & GO, 1&113 Lake St., Chicago. Bezaretultobuyoaly the Genuilns, NEW PURLICATIONS, TEEBR POPULAR SCIENCE MONTHLY, FOR DECEMBER. CONTENTS. 1. The Growth of the Gteam-Engine, [T, 3 R TRt (astrarady - DY Frof. 11, Btar or Star-Mist. By Ricriap A, ProoTon. 1. Lanwuage and the Enzilsh Civii-Rervice. Prof. ALRXANDER Baty. 13. ‘?: ll;! Comparative Bll;ffldl" of Polltfet: s The Lt ¢ anid Rhi; 3 "o . B i . Etolntion: Ite ¢ . P . L) L - TR o S G 04 oo VIL The fireat Decgal Cyclone of 1870, By Caxn Daxnrcx, Vit oneSie-tomletstran. 1 7 X. Histary of the DynAmiesl Th Rt el Hiatacedry ke BY X. Open Alrand flealthi. 1y br. Part, Kiguavzn, XL The Tider. Dy Prof.ELtas Souxsipan. 11, (1l- lustrated, ) XI1, Moleen suverstitions. UL Bsteh of Prof. fankine, (With Portrat,) 1V. Eptron‘s TAnLE: Language In #e 1= e Thanbankn iad Aiats Comeny, dacation=Ssr: Lirznany Notieas: Porvass ST TerE Tar W amen ik A ot o ng elrgTanlc Determiiation nt Diferencer ot onuftade n the Wrst Indios Aml - Centrag viiieation on By Notes on Fish-Cujture=—Fiorits —~ International Netentifc Service — Loomie un flain Aress—Tacte-jrercep. An Eniderground P tic Cloek- 1ty ular=Tucal Temperatures of the Biond=- Eirctro- Plating — New \sthod of “Artincial Jimapratlon—Frank Tiackiand on the lioriin Gorlila=Topograplleal burveys and Nealtn, Notes, Oonductod by E. L. and W, J, YOUMARS, Trnve: 85 per Annum, postaze free, or 50 cents per Num Toxe' Jotnxat, and Tig PoPrLAn Scir: A Moxriiy, togethier, for §7,20 pef annum, posiage pr pald by the puulishers, D. APPLETON & CO., Publishers, 54D and 651 Droasdway, N, ¥. THE GALLANT CUSTER NOBLY VINDICATED! “Sitting Bull” Speaks! The account of Gen. Ci i Suir accqunt o Gen, Cutter's last great Aizht, ag Whittsker's LIFE 0F GENERAL CUSTEN, now praved to e enticely corrert. It for the cows rdice of his subordinate commisndery Caster wonld havewan (he moat bellian Indian vietory ever aehfered in this conntry, teno and flenteen wera kent back for hoars by n few rquswe, while Custer snd his eommanid were In G et Ceaperate hatti er fousht, every man golng 10 his grath hravele. 8o fell € the heave cavas 1t Tier, the € er, iled by foes, It La il thie tmen heloved. Wik him < tamily. Tihe Vo York *+Ji-rakl | earrespundent had amost rewarkably Inferview with Bitiing Bail. (o the pees. enceuf Mal. W e hivsi of the Caua ila fouuted puiice, In wiiel The Facts have all Come Oul, and Caster's Detracts < nry are Used Up, EVERY ONE SHOU uE 1 M LIFE OF hiel marked s career woule o (UST] **The dor) 11 & voluie, York Turaid, 18i¢ 1if wae § perfect romance, Tle was the greatest cavalry nfleep we ever hal. Une volutne uctavo, elvicantly flustrated. Price, 3. Scld by Bubscription, GEN, OUSTER'S OWN BOOK, MY LIFE on the PLAINS 1o 8 mont charmtog book. . Price, HELDOY & CONPAXY, New Vork. % EROPOoy. 2 o NOTICE 0 CONTRAGTORS SENaFieeD, M., Nov, 1 po e pece ed Commiiter for tulldlug o new ranzumon Codnty dall and Workhiuae, ccordtng to glatis, apecifcas tlons, and detail dpawings trtstied {or e date, Pros posaly areinvited s Tullows, to-wity For the eutire wor 2 mpicte, [ncluding setting. For e brick work, inciuding excavatuus aud in. complite. wr the carbonized lrop, chrome steck and cast- e complete, the carpenter wark, complete, the gatrantzed-iron work, . Fur the Iron Toaf on Jail aud workhouse, AL Eor tie slat-rot on Juller's residence, 0. For il pisstering comyleto, For the punttog and wlazing, completo, For thie plunibi - BV, ¥or the lisatiog and ventiiatiug apparatus, ans, apeelfvatlons, detall drawings may i tthe oftice of the arehitecton aud attee Novem: 20, 1477 Al uls tuF the work completo, or ny, part thereat, must be filest In ihe otice of the County Clerk on or forg the ath 1 Decetutier, 1877, 8t 12 o'cluck m. o walch b I e presented 1o (he Board of pupers \re of Sangamon County, The satid o ea rltit to reject any or all bids recelved. [t 1y order of Commlttee, . M, B SEONOE I, 1 . C. M,BMITH, Chairman, sperfntendent. Architecs MYIRS, AMERICAN LINE, Philadelphia and Liverpool. The oniy traneatiantic line salling can Fiak. Balllug esery Thurday aud Wediieatay frou Liveriool, ~RED STAR LINE, Carrylng the Belietan aivd Unfted States maia. Saiii Everyiweing daya, aitvruately from FUTGADELPHL BRSO T o GNLY w0 ANT el Blouns to suit, ety AT e s I3 pe it Fast Landulpli-st., Clicag RN Managers deeits Now 23e ler_the Ame from Phitadeiyh DEVTRE A SIS ec.n, 6a, NCiH e, m. e, 2p.m, | HOLIVIA, Dee. 13, novd 1 Glaezow, Livergoot, OF Lundundarry vdon alrect every Wedusday, s bihe 10, Brecraces Bo0 ek lr;«'lu ed nm.'"‘.' 0y Shton il ot chrrency, raien. 0N BT IR 1 Wastington-at. STATE LINE. FW YOLK TO GLASUOW, LIVE, H ¥ BELFAST. AND LONDO! =2 il The ateamers f (his Company will sall every Satare day from lreoieu Pler, fous of THIR strvet, Hoboken, fitea of haes Pk 0 BeRthAnIDLOR: Lomidon, Tav uin, cabln, ¥ Jul S0 fiassaite WP Grent Western Ste From New York to Bristol (England) direct. CORNWALL, Wilam .Thursdsy, Nov. 8 Sl!)albt.l baturdag, Nov, 34 ‘haasdye, 70: Interiediate, $431 Bieer i lietury Tickeld ai favoralie raies.” Pre- &AN Slecrugy certiicates & ) P‘ W WAL, ¥, VIGEL 47 Clark-st.. Michlan Contral itatirosd. " CUNARD MAITL LINE. s-lllmi‘umm times a weok toand from Beltiah FPal went P’ Apply st Col Office, northwest cornec Clark sid Randolpli-ats., Chicizo, 1. U, DU VERNKT. General Western Agent o ENCAE RN o SHEFFIELD SCIENTIFIC SCHOOL OF YALS COLLEGE. ure and Appliod, fn Civil sad Batany, udles. wi iy, 1 UROKA, ILL. A Joard. rocn febt, and tullivn I Courig. wiater tert uf 15w ‘dreas tle LTIVl DASILYA AND MIS. BRAUFORD'S (LATH Usden Hotwau's) kugiish, Prevcy, and Uery way bBosrdiug sau Duy-School fur yu vadics and childreu, with calisibeulch So. 17 W datli-di) N. Y., Avplication way b made by etter af L AUTE. A spuri fli (0F uyg Upst i int teacticrs. Luctureaby Profs wkius lud r. Labbertoa s F.\mL\"m AKDING-5CHOUL FOIE BOYS. _¥OR pariiculars bddreass L. HA cneva Lase, Wia BIRLS, Wo unn the seasn with wore nd duer Iored Ger- 1man Cerasy Birds thad ever. 11500 waat blrds, Fub. Ajda- Fluts o Cages seid 1oF Cata: B|RDS Mogur, fiee. - FRED KAMP. FER wholtsalo dud putail dvaler, 137 Clat k-at., Chliadon