Chicago Daily Tribune Newspaper, February 27, 1881, Page 2

THE CHICAGO TRIBUNE: SUNDAY, FEBRUAFR Y 27, 1881—EIGHTEEN PAGES. market faces which before had been gloomy were wreathed in siniles. Prices were above the closing figures. Whether the buoyvant conditisn was due to the Secretary’s order of pwn. It v loubiless, nnouncement, but h al effect of the knowledge th xigeney arise, the Secretary had ‘rves to exhianstin payvment for ads 6s,and that, in addition, he 105t 525,000,060 worth of called bon announced, went a long way further. A evidences of a panicky condition in the stock and money markets JAD PASSED AWAY - by o o'clock. §fhere was a mood deal of urning amoniz the “lambs™ whose inarging i t by the terrible break in yestel ternoon, and a large num- ber of sorrowful-looking curbstune opera- tars were to be seen in N street and change place. The sharp reco prices did no good to th were cleaned oui, and th on what miziht have beei. €101110Uus ales yesterday at panie pri show that souic of the large operators on the bear side of the murket must have realized fortunes on the turn to-day. The decline was so rapid and tempestuous that it is not probable it was discounted to any extent. notwithstand ag the report that bear clique, with a large short inter ed the break with the oo- iioctuf squeezingwell-known larize operators, ile Jay Gould. who were known to have a long line of stocks on hand, The woney that made in the street within the last twenty-four hours was wade in .the rapid recovers. i TuE 4 sn)]'s: “The bank state nent was more favor- 1y expected, the R loss on re- for Joole in mind, however, that the statement d that the full etfect ¢ is not reflected in the | fizures _put out by the Cles House 10~ it The large loss in specie s) thav the ts have put zold into the Treasuryto re- ¢ bank cireulation 1o a preal copsequence of the scarcity of le. The increase in legal-tenders is prob: by the result of the influx, the consequenc {1 ;s for money at Lhis point. The decrease reulation is not as large as was antick but, as we lave said before. it should ind that the statement is made | up on avera, Thie ds S enormous, being about the combined decrease | circulation. The 1 21.900, which leaves the banks with £1,355,225 above the legal limit.” In refer- ence 1o bank averages, THE “COMMERCIAL ™, 9 “ We have on o believe that bank averages are about the last | | be reported complete througin the House. Several banks will un- Clearing 9 doubtedly decline 10 make their averages, acknowledging no obligation to the Clearing- Ilouse to report their condition other than i on periodical calls of the Dank- Sontroller at ‘I Washington. The practice of weekly aver- | awes is lawless, like the wild and reekless | certitications_for stockbrokers and the reso- Iution repudiating silver as a legal-tender. Under the -incoming_administration of the Treasury the Stock Exchange will have to change the rule of speculation to cash sales and purchases, and to sales and purchases ) for account~lays, The $100,000,000a day of certifications by National banks, in utter vio- Tation of law, will have to cease. 1f it be said it the Bank-Controller sanctioned the certi- cauons last vear, the revly is that the Controller is a subordinate of the Treasury, ! and_will not be allowed to violate the spirit of the law against bank certifica- tions. We predict that the Saturday aver- ages of more than one pro:mjnent bank will not be sent to the Clearing-louse, and the concern will have to give over their imper- tinent interference with thecondition of their members. The scandalous experiences of this week will have done the business forthe Clearing-House, as_the ruling banking-pow- ers—the Fourth National Bank, in wh Gould has his account, and the Importers’ & Traders’ Bank, of which Mr. Saze is Vice- President—will probably decline to make av- erages toghe Clearing-Housenext weelt. The Continen%al and other_banks will take the same course by way of protest against the mischievons and lawless interference of the Clearing-House with a responsibility solely due five times a_year to the Treasury Department. It is intimated to us this after- noon that if any of the banks decline to make weekly averages, they will be turned out of the Clearing-House.” This is all bosh, The membership of the Clearin-Iouse will be protected by the courts, if anything of _this kind is_attempted. The original pur- Buse of the Clenrin{House of the associated anks was to make and settle daily inter- . changes, nothing more or less.” Sai ONE OF THE LALGEST OPERATORS . this afternoon: *Confidence has not been shaken. People have not sold out because they wanted to do so, but_because they have * ..been compelled against their wishes. They have been unable to carry stock, and have thrown it oyer without regard to its value. There is a dispatch from Boston saying that the banks are full of customers anxious to buy stocks. but the banks will not buy on ‘margins. Assoon as the banks will 1ake orders, stocks will be purchased with a rush. ‘That shows_ how they feel in Boston, and there is much - the same feeling here. Of course, we may have a temporary reaction Monday, but we can see the end now. There jsa feélng that the Funding bill will be vetoed by the President, if it should pass Congress, and a new bill will beputina shape which will be satisfactory to all par- ties. There are buyers enough in Wall street to-day to carry up the price, if the brokers were in a position tocarry the stocks, and just as soon as we are at a point where the brokers can get accommodations at the banks, we shall see stocks zo beyond any- thing seen yet. Theweak holders have been 'shakcn out, and stocks are in sérong hands.” JAY GOULD is willing to be put on record as saying that the end of the nioney stringency Is in sighty that public confidence is not shaken; that buyers are numerous and prices will ad- vance with a rush. A quieter feeling was_reported from eoun- ‘try banks, and the opinion of bank officers is that the worst1s over. President Dowd, of the Bank of North America, when ques- tioned concerning the financial conditien, said: “ The Refunding bill is as good as Filled, and I don’t anticipate further serious trouble. Besides, in addition to the $10,000,- 000 paid for the uncalled bonds, which is beginning 1o circulate; the Govermmnent owes the Clearing-liouse $4,000,000, which will help the market.” _President John Ti on, of the Chase Kational Bank, said he crisis is past. The banks will no longer strive to protect their reserves, but they will strive to protect their customers. This, with other move- ments nnder way, will restore confidence. There is no danger of another Black Fri- day.” TOE “rosT” is cautious and says: *‘A. large short interest ‘was made yesterduy, and it has been mostly covered to-day, the buvers at low prices yes- terday having to-day been selling to those who sold yesterday, Although all danger of the panic extending bevond the stock market has passed, it Is notat all unlikely that, as soon as the short interest of the stock marketis fully cered, prices will react from the advance of this afternoon. The Sub-Treasury has taken in during the week about $13,000,000 in Iawful money, and has restored by bond pur- chases less than half that amount, the holders of the $35,000,000 of bonds which the Treasury offers 1o buy having been dilatory about presenting them, they not being the persons who suffer by thé money pinch, whiiether caused by the raid of Congress on the National banks, or forany other reason.” THE * TIMES” .says: * Indications are that the speculators’ panic Is over. Atteraday of wide fluctua- tiuns and general feverishuess the stock mar- ket closed with money loaning at G per cent and stocks far on their way to the highest quotations yet reached. The market opened 1 to 10 per cent above the closing prices of Triday. This was quickly followed by a re- action of 1 to 5% per cent, due iargely to Talse reports, which seemed to have been pur- posely spread at the same instant, that four reputable firms were in difficulties. These were promptly denied; and $1,000 reward OFFERED FOR EVIDENCE that would lead to the discovery of their originators. 1t is proposed by the Stock Ex- e to have an investigation, and punish 1y whoever the offense may be brought home to. - 1n addition to the action of Secre- 1zry Sherman looking to a refief of the money market, larze sums, estimated to aggregate §8,000,000, arrived by express from Canada, and other iarge sunis pouved in from Butfalo, Chicago, and other scctions of the United States, attracted by the high rate of interest. These found their way into the hands of the Drokers.. ‘The banks were also enabled to be more accommodating, and sever:l of the * big bulls,” like Gould ana Vanderbilt, sent into the markecand purchased stocks right and | 1 The ington, that the new Funding bill will not become a law. That there were no more failures is considered, remarkable in view of the faet that two-thirds of the brol tiiemselves speculators. Al heavily, but it was the outside public that was most badly scorched. * In_thousands of cases the _prolits and savings of the last two vears of prosperity melted away like snow in- the sunlisht. The smrf; Kub- lished in some newspapers that brokers refused to do business on margins during the past two days is the veriestbosh. They have declined small margins from persons whom they did not kuow 1o be responsible, but that L. It was said yesterday that some =3 FRIDAY’S PANIC threw overboard stocks which they were car- rving for customers while the latter’s mar- gins remained partly unused, and the brokers were cmnufille‘l to buy back the stocks on their own account vesterday at advanced prices, thereby entalling large losses to them- selves.” IN THE PITS. THE EARLY REPORT. NEW Yonk Feb. 2.—It was with feellnes of terrible uncertainty that Wall strect awaited the opening of the stock warket to- av, after yesterday’s fearful tension and ex- perience. ‘The outlook for to-day was looked upon as dubious in the extreme. While nopeful and even cheerful feelings were ¢n- tertai by some, others of less sanguine natures shook their heads and still eried, “Stand from under. The wrecks that strew the street shoresare numberless® Many operators have been irretrievably crippled. ! Jlouses that were considered . built upon rovks were threatened with destruction. Had the Stock Exchange remained open one-half hour later yesterday the disaster would have been frightful. Consequently, when the ticker first began to sing this.morning every fizure was watched with almost bated breath, In every oftice groups struggled around the instruments watching the course of things. Operators who are never seen down-town at so early an hourof the day were at their posts, full of interest, anxfety, and uncertainty, THE MARKET OPENED, asarule, higher than it closed yesterday. solid investment stocks—insiancing Western Union, Union Pacifie, Lake Shore, New York Central, Canada Southeri. Dela- ware & Lackawanna, New Jersey Central, and Denver & Rio Grande—were strong, but during the first half hour the market was ¢ weak and unsettled. “Then came from the Sub-Treasury the an- nouncement that Secretary Sherman bad au- thorized Treasurer Hillhouse to redeem the £25,500,000 of bonds which he called in on Monday, and which he had originally re- stricted for payment in Washington, and it soon became known that the banks had ceased turning the currency into the T'reas- ury to retire circulation, that they were loan- ing more senerously, and were calling in only such lots as were found absolutely necessary for the transaction of business. FROM THIS TIME a better and more settled feeling existed in the stock market. The reason why several of the- largest houses in the street refused to sell bonds yesterday Is explained by the fact that they could receive more on the street for bouds by ¥ of 1 per cent than the Government “would give them. To-day theysold liberally o the Government at lower prices than they could get on the street, so that money could get upon the street, Speculation continued generally firm, and prices advanced without any important in- terruption. The improvement after noon ranged from 1§ to 7%, the latter in Chicago, Burlington & Quincy; Canada Southern selling up 5%, Central Pacific 5, Reading 4, Delaware & Hudson 33, Union Pacific 3}, St. Joseph 3} for common and 3% for pre- ferred, and Western Union and Rock Island 34. . ? % DURING THE LAST IADE HOUR the business of the market was strong in tone, with an upward tendency, and the clos- ing prices showed an advance on the day’s transactions ranging about 1 to 15 per cent, Reading leading the upward movement. Canada Southern rose9%{: Louisville & Nash- ville, 9%¢; St. Paul & Omaha, preferred, 9; Union Pacific, §; Hannibal & St Jo, 943 Northwestern, 7; Western Union, 6; New York Central, 53{; Lake Shore and New Jer- sey Central, 5%': Delaware, Lackawanna & Western, 63; and Delaware & Hudson GX. Money is easier, and the rate for carrying over stocks to Monday is about 6 per cent and asmall bonus. Indeed. the best borrowers are accommodated at plain 6. The Second National Bank, New Haven, has counter- manded its order to withdraw its cireunlation, amounting to $360.000. The Assistant Treasurer bought $1,59,750 bonds to-day. ‘There is some disappointment that these bouds came in so slowly. THE LATE REPORT. New Yorx, Feb. 26.—Governments were strong and ligher. The features of the railroad bond market were Erie second consols, which, on a large business, advanced 33, to 983¢; Texas & Pa- cific income land grant Ts to 827¢ from 7T83(; Columbus, Chicago & Indiana Central in- cowes declined to 63 from 66, and recovered to 651¢; Kansas & Texas scconds declined and advanced to 813{; Boston, Hartford & Erje firsts declined to 32 from 55, and recovered to 55%; and Mobile & Ohio first debentures declined to 79 from 80, and advanced to 8L State securities were dull. Stock brokers to-day paid as high as one- quarter of 1 per cent, plus 6 per cent, for money. Most loans cost a commission of 1-16@2¢ of 1 per cent. Tho closing rate was plain 6. THE STOCK MARKET opened strong and buoyant at an advance of 15 to 3in the general list and 10 in Reading, and subsequently advanced i to 3. This was follo by a reaction of to 5%, the Iatter Western Union. Toward ‘noon, how- ever, speculation again took an upward turn, and, although there were occasional reactions, the general tendency during the remainder of the day was in the direction ot higher prices, and at the close the improvement on yesterday’s final quotations ranged from 2 to 15, the-latter Reading. Canada sold up 93¢; Uannibul and St. Joe, 9; preferred, 6l¢; Louisville & Nashville and Denver & Kio Grande, 9; Union Paclfic, 83¢; St. Paul & Omaha, 7; Delaware, Lackwanna & West- ern and Delaware & iudson, 63¢; Central Pacitic, 63¢; Metropolitan Elevated, 63 Rock Island and Iron Mountain, 6; Nashville | & Chatancoga, 73¢; Illinois Central and Nsrthern Pacific preferred, 5%; Ohio & Mississippi, 514 ; Pacifie Mail and Lake Shore, 54 ;Western Union, 5243 St. Paul,New Jersey Central, and Cleveland, Columbus, Chicago & Indianapolis, 5; Louisiana and Missouri River, T%. THE ONLY FAILURE REPORTED Pa%sll T. Hoysmill, broker. Liabilities not e P At a meeting of the Directors of the Louis- ville & Nashville Railroad Cowmpany to-day the resignation of E. 1L._Green as President was accepted, and C. C. Baldwin was elected to fill the vacancy. G. A. Washington, of Eentx‘misee, was elected Second Vice-Presi- lent THE *EXPRESS " iu its weekly review of events in financial cireles s: “The ‘light market unsettled foreign exchanges to an extent unknown for years, -if ever before. The nominal asking rates for sferling was reduced day by day until they were brought down 414 for each class. There was very little actual business, and consequently no tangible quotations. There were no gold_arrivals at the Assay- Oftice during the week, and no payments on that account. Government bonds shared in the general depression, and prices fell off }é to 124, Siate bonds were dull ilroat bonds followed the course of the share list, and speculative issues fell off rapidly under the lead of Erie, Kansas & Texas, Texas Pa- cific, and Cleveland, . Columbns & Indiana Ceutral issues. To-day the depression con- tinued at the openmng, but, later on, as in the stock market, they recorded a sharp recav- ry. Railway and miscellaneous specula- tions were characterized by great excite- ment, and an unsetiled teeling prevailed al- t et THE BANE STATEMENT was much wore favorable than expected, and there was a general belief on the stree based OB numerous private dispatches from Wash- most through the week. The depression was more severe Friday, when ¥ A GENERAL SCAKE RESULTED in what virtually became a panic., The low- est prices touched showed a decline of 3 to 12 per cent, and extended through the entire list? Transactions, 611,000 shares: ‘s’ New Jersoy Central. 15000 «d New Vork Central... L0 wy; Northern Paclfie.. ... 160 QObio & Misaissippl. 5 3 Dei. Lack. & N Detiwarg Erie. : Fannibil & $i 3o Iran Mountai Kunas &1 Lake Ere &'W Loutsville & Nash.... Michbeun Central. Nortiweswern Nashvitle & CI WASHINGTON. CONGRESS. TESTERDAY’S COMMITTEE MEETING. Special Dispateh 10 The Chicago Tribuns. ‘Wasnixeroy, D. C., Feb. 26,—The Ways and Means Committee met this morning to take final nction upon the Funding bill. There was a manifest disposition on the part of the Democrats to reconsider the action of last Thursday, when it was agreed to recom- mend various amendments to the Dbill as it came {rom the Senate, and to insist upon a motion to immediately coneur in the Senate amendments. Speaker Randall, who has the 3 per cent scheme very much at heart, and whose pride is involved in the passage of the bill, has used his influence to induce the Democratic majority of the Ways and Means Committee to press for immediate action. The Republican members of the Com- mittee, bowever, notably Mr. Frye, insisted that such a course would be A GROSS VIOLATION OF FAITII; that tne Committee had agreed with the Re- publicans that the amendments which had been carriod in the Committee last Thursday should be presented in the House, and that not to do 50 now would be to violate their faith in so gross a manner that the Repubflic- ans would be compelled to take notice of it. The attitude of the Republicans on the Cowmittee plainly indicated that they would uot consent to any such judgment as was proposed by the Democratic mewmbers, without asserting the rights which the Republican minority so well knows how to exercise. Thereupon the Democratic mem- Lers of the Committee acceded to the de-’ mands_ of the Republicans,. o concession which Sveaker Randall has since said was «q surrender to the bulldozing of the Repub- licans.” Speaker Randall, moreover, de- clares tliat the Democrats of the House will not consent to any such surrender, aud that’ the Ways and Means Committee, if it keeps its faith with the Republicans, shall be over- ruled. AT ALL EVENTS, the Democratic members of the Committe, after a three hours’ session, squarely votea this morning to instruét the Chairman at an early opportunity after the passage of the Sundry Civil bill to move to go to the Speak- er’s table to consider the Funding bill, and to concurin the Senate amendumients, with the amendments adopted in the Committee oft Thursaay, already published, and with an additional amendment and a resolution also that Mr., Conger might offer an amend- nient to the fifth section of the bill; that Mr. Aills might offer an amendment yet to be formulated, end that then there would be a call for the previous question upon the Senate amendments and the amendments thereto. The Commiitee alsodecided toreconsider the amendments adopted last Thursday, which extended the time for taking out the new bonds to Sept. 1. The Committee leave the date asit was left in the Senate amendments, at July 1, the eud of the fiscal year, and the time of semi-annual payment of interest on the bonds. * MR. WRINLEY proposed the following amendment: Provided, that nothiog in this act shall be con- strued to repeal, or in any way affect or modify, .| secs. 5,220,5,222, 5223 and 5229 of the Revised Statutes of the United States. The purpose of . the McKinley amendment isto retain In the statutes the present law, which provides for voluntary liquidation, It was not the intent of the framers of the new Funding bill to repeal that law, but, as there have been some doubts asto the construction of this law and as to the effect of the Fund- ing bill, it was thought advisable to make the affirmative declaration that the volun- tary liquidation provision was not to be modified, affected, or repealed. Mr. Con- ger's cmendment proposes to fix Sept 1 as the date under which the 8 per cent bouds alone will be received as security for elrcu- lation, and proposes to strike out that section of the bill which provides for the repeal of the fourth section of the act of July 14, 1870, under which National banks c¢an now at pleasure retire their circulation down to the amount of $50,000 upon the presentation of legal-tenders. ‘The amendment which Mr. Mills proposes to offer isof a greenback character, and has not ‘yet been definitly formulated. THIS 1S THE AGREEMENT OF THE COMMIT- TEE. - It hasbeen ascerfained since the meeting, however, that the Democratic leaders have decided that the Ways and Means Committee must be overruled; that it will not do to per- mit the bill to go back to the Senate with an amendment, however trifling, as to do that will endanger the final passage of the bill, and that a motion must be made in the House to concur in the Senate amendments, and to pass thebill exactly as it now stands upon the Speaker’s table.” If the members of the Ways and. Means Committee do not keep their faith with the Republicans, or if they vinee a lukewarmness in° supporting amendments which were agreed upon at the Instance of the Republicans, it i3 very proba- ble that a desperate contest will begin. Mr. Frye, on behalf of the Republican members of the Comunittee, has given notice that the Republicans will not consent to such condi- tions, and will do their utmost to prevent the Democrats from carrying out their purpose. 3 THE FEAR A that the bill would be Jefeated if it should be sent back to the Senate, with even an in- significant amendmient, is undoubtedly well founded, for it has been ascertained io-day, that a number of the Republican Senators have determined that, if the bill comes into the control of the Senate agaln, they will certainly defeat it. ! What is to be the fate of the bill IN THE IOUSE OF REPRESENTATIVES it is very difficult to predict. The sentiment against its passame has visibly gained strength since yesterday among the Repub- lican members of that body, and a strong disposition is manifested to prevent further action unless the fifth section of the billshall be struck out altogether. 1t has been Inti- mated to leading Repuolican members of the louse by influential Senutors that if the bill can be sent back to the Senate, even with one amendment, the -measure will be killed in that body for this session, at least, but the Republican Repre- sentatives say that they have trusted the Sen- ate once to improve this bill, and if they can prevent it they do not propose to be again the victims of such misplaced confidence. There are forty to fifty Republican members of the House who now feel that they cannot justify themselves to their. constituents 1f they shall fuil to use every means possible to defeat the bill. Unless material amendments are adopted these members say that the pres- ent financial situation, PRODUCED BY THE MERE PROSPECT of the passage of this measure, and the still greater dangers which impend in the event of its suceess, are suflicient to justify them in usm}i‘ every means in their power to defeat it. There are otber members who equally desire the defeat of the measure, but who are averse to any resort to dilatory tactics for that purpose.” Very little pressure, how- ever, would be required to induce them to do s0. Probably no-member of the Ways and Means Counnittee would feel justified in re- sorting to dilatory tueasures unless Speaker an:' | should rule out Mr. Conger’s amend- men IN THAT EVENT' Mr. Conger would undoubtedly be justified in doing so. There are many members of the House who believe that if a direct vote upon the bill could be had now it will certainly be defeated. - This is probably true, but no snch proceeding can be had. ‘The énly way open, therefore, for the defeat of the bill By the House; is to prevent action upon the amend- ments to it. This can be done if forty memn- Ders stand together in opposition, and in the opinion of well informed nbers of the House; thera I3 afair probavility that such will be the case. As to the probable fate of the bill Lz ¥ 1N THE SENATE . if it shall aenin. be referred to that body, opinions differ. A very influential and prom- inent Senator sent for a leading Republican member of the House to-day, and said to Iiim: *You Republicans in the House must not coneur in the Senate amendments to the Funding bill. Get in one amendment, if no more, and send _the bill back 1o us, unless you can detéat it in the Lonse, The Semate will take care that itdoes not go to the Pres- ideut unless its objectionabl features are ciflmlrintedfl Regarding the probable ac- tion o 4 TIE PRESIDENT if ‘the bill shall’ besent to him by Conpress for his apf:rm*ul.nomiux is positively known. Awmong Repubiicans the bellef is rapidly i = ground that he will not approve the measure i called upon to act, A prominent member of the 1louse of lepresentatives, whose opportunities for torming a correct judgment on the subject aro excellent, said to a TrIBUNE correspondent to-day: Iam inclined to_think that the Funding bill will not -pass_Congress, but, it it does, it is my candid opinlon_that the President will veto it, unless the figth scetion is struck out. A week ago this gentleman did not believea veto of the bill was among the possibilitics. THE SITUATION. as it appears to-night, after a canvass of the Republican_members, is substantally as Tollow: First, tllew is pretty substantial ground for the beildf that the Funding bill will not pass unless the lifth section shall be stricken out; second, if the bill should go to the Senate, as some belipve it will, it would vrobably meet with defeav in ‘that body; third, if by anychance the bill should be sent to the President substantially in- its present form, it might not receive his ap- proval; fourth, there is scarcely a probabili- ty remaining that the Funding bill will be- come a lawag this session tniess *he Demo- crats abandon thelr attempt to strike down the National-banking system. GRAVE DOULTS. . To the Western Assictated Press, Wasmyayoy, D. C., Feb. 2, —After the Sindry Civil bill has been disposed ot in the 1louse on Monday, an_etfort will be wade to take up the Funding bill. when the several amendments adopted by the Ways and Means Comunittee will be il , together with with those suggested by Revresentative Con- ger. A careful canvass of opinions ot prom- inent members of the-llouse,-both Repub- lican and Democratie, indicates that graye doubts are entertained of the passage of the bill. Many members assert that they will not support it unless the entire fifth section is stricken out. 1IN COMMIETER. The Ways and Means Committee of the ouse, after a session of three hours, has in- structed Representative Tucker to call up from the Speaker’s table the Funding bill, and, as Chairman of the Committee, move the coneurrence in the Senate amendments, together with the amendments eed to by the Committeg at their last meeting (with ception) and an amendment adopted e to-day, ‘The latter is the amend- ment proposed’ by McKiuley to add the fol- lowing at the end of Sec. 5of the bill: “ Pro- vided, nothing in this act shall be construed g) repeal or iv v manner affect or modify ] 20, 5, 23 and 5, - visen Statutds of the' United States 'he amencent adopted at the last meeting ex- tending the date mentioned in the fifth see- tion from July 1 to Sept. 1 was to-d: stricken out. Mr. Conger offered an amaond- ment to-day to strike out of See. 5 the words, “and provided further, :hat Sec. 4 of the act of June 20,151, entitled an act fixing the amount of United States notes, providing for the redistribution of National-bank currency, .and ror other purposes, be and the same is hereby repealed.” -The amendment was not agreed to, but MR. COYGER was authorized by the Committee to offer his amendment in the Houss before calling the previous question. Mr. Mills was also au- thorized to offer as an amendment to the bill betore the previous qaestion.is called the amendment in regard to the date, which was | stricken out,_ by the Cummittee to-day: Mr. Tucker was instructed o go to the Speaker’s desk, and the question of consideration-upon the Funding bill will, therefore, be ‘raised as soon as the Sundry Civil oill is disposed of. . .. THE RONEERENGE. COMMITTEE having failed ta effect any compromise upon .the appoytionment (Flesuu_n, an ungderstand- ing)ins been reached yipon “the Democratic ,that the Apportionment A Tor the present to allow the Ways and Means_Cowmmittee an_oppor- side of the Iou “tunity fo eall up the Funding bill: - The bill stands No. 10 upon the Speaker’s table, and a single objection will- prevent its..considera- tion vut of order, but the other nine bills having precedence may be laid aside seriatim if the llouse so disposes, and in_this way the Funding bill might be reached for considera- tion in a short time after the disposition of the Sundry Civil bill GOSSIP. THE BANKERS, Spectal Dispatch to The Chicago Tribune, WasINGTON, D. C., Feb. 20.—The Treas- ury received notice to-day of thé with- drawal of some $2,000,000 additional: Ac- companying one of the notices of withdrawal was the following leiter from the oflicers of the National Albany Exchange Bank, which is an illustration of -a great many letters that are received: : NATIONAL ALBANY EXCHANGE BANE, N. Y., Feb, 24, 188L.—1'he_Hon. J.J. Knozx, Controller of the Currency: Wo have to-day made prep- arations for the rctircment of our en- tire $270,000 of clrculnting notes, in order not, in any conmtingency, to be deprived of the control of our own atfairs. This action is not taken in auy hostility to the 3 per cent loan, if it cun he floated. But we choose to oc- cupy the position of deeiding the question of in- vesting our money for ourselves. We eannot quite yet vield to a forced lonn, 80 long as there isawiy out. At the sume time, if the present Dill does not become a Iaw, it I8 probable we shail decide to renew our circulation and go on as usual. TIE PRESIDENT OF A BANK IN ST. LOUIS whois one of the strongest Democrats in Missouri, in an ofticial communication. to the’ Controller of the Currency under date of | Feb. 22, referring to the Funding bill, saysT ™ It is not, properly speuking, a Funding bill,. ‘but a forced lonn, attempted to_be put upon:the Natiopal banks, and I trust that they will not Bubmit to it. Y A closer examination of the statute shows that the erroneous public opinion prevails that if the Refunding bill shall pass in the form in which it now stands, it will be im- possible for the banks to withdraw their cir- culation” except by collection of thelr own notes. There still remains a way to do this through the medium of voluntary liauida- tion, by which the banks can compel the Treasury to collect the notes of the banks uvon the deposis of legal-tenders. UNDER THE CONDITIONS WHICH MIGHT EX- ST after the passage of the Funding bill there would not necessarily any stigma attach to such voluntaryJiquidation, and the banks could reorganize in forty-eight hours under anew name. Some. of the banks, indeed, whose charters are about to expire might choose to take advantage of the voluntary- liquidation provision to renew their charters, and would use their 4 and 414 per cent bonds as a new deposit under their new organiza- tion. Someof the banks have so miscon- strued the law that they are retiring their 4 and 414 per cents, although the Fuuding bill does not In any way apply to that class onds. SECRETARY SHERMAX. To the WWestern Associated Press. Wasueroy, D. C., Feb. 25.—Seeretary Siierman, in conversation regarding the financial situation, said there was nothing further becould, do. “Whata golden op- vortunity they have missed in Congress,” he said, “by not passing a 334 per cent Funding bill. ‘rhe whole business could have been finished up in sixty days, but_now Idon’t know how itis coming out. There is going to be a good deal of difficulty, I fear.” As- sistant-Sccretary Upton talked very freely, He said a few telegrams had been received from people crying out for aid, but. there was !xot{xiniz more -‘to be donme. The whole difliculty in Wall street was not a lack of money, but'a feeling of uncertainty and a desire to bear the market. He thought the decline was about at an_end for the time being. The banks had furnished good rea- son for the passage of a bill taking away some of their rights. They had acted very foolishly indeed. 5 DEPOSITS OF NATIONAL BANES received at the Treasury Department to-day {for the retirement of circulation were $2,826,~ 7205 total to date, $13,802,909, - - THE REVERE NATIONAL BANK OF BOSTON to-day gave notice that it had deposited Sif 000 United States 6 pér cent bonds, series of 1881, to obtain additional circulation. TIO: LEGAL-TENDER DEPOSITS made since Feb. 19 by the National banks to retire circulation were ‘onumerated by States . as follows: F Connecticu: Disrriet of Kentucky, Musanchusotts. Michigan. Minncsota: Missouri:. Montuna. N Total .. Number of : ELSEWHERE. BOSTON. TALK WITH»A BANKER. Spectal Dispatch to The Chicago, Tribune, BastoN, Mass.,, Feb. 26—A well-known Bank President in this city, this mornlng, in conversation said: “In my opinion, and in the opinion of hundreds of others who cléar- 1y comprehend the situation, Secretary Sher- man, has made a bad—a very bad—blunder in feiling to pay the called bonds promptly, as fast as the greenbacks were de- posiied at the Sub-Treasury. The Ex- ecutive ought .to have .been - ready to pay bonds toan equal amount. In so doing the storm would have been averted, and while ihe market would temporarily have been unsettled and irregular, no ve such us has been experlenced would have ensued. As for the future, I nave little or no fear.” Everybody came on the street this morning in an anxious state of mind. Orders to sell .were numerous, and not a few to buy avere given, though of the latter but very little was on margin. Assoon as the quofations begen to come over the wires EVERYBODY WAS HUAPPILY DISAPPOINTED. The larger sellers of yesterday came into the market as buyers, and made a determined effort to raise the list. For a tlme it looked Fas if the movement would succeed, buta cqntlnuance of the strinzency of the money market, together with a determined effort on the part of the bears, overturned the good feeling. 'The opening showed an improve- ment of from %{ to 3 per cent, but when the break came the decline put the list back much beyond the gain that it had made. Speculation at nearly every polut sagged prices off from a fraction up to several points, and the tone generally was dull and lacking in animation. MONEY BETWEEN THE BANKS was as high as 8 per cent, and loans hard to obtain, excepting by the larger houses, at any price. Another shipment of funds to New york on order made things still worse, and everybody. save those who were obliged to, preferred to keep out and await develop- ments. TIE MOST PERCEPTIBLE BREAK. was ‘in railroads. Atchison sold down to 130, a fall of 3¢ since yesterday. At the opening of the afternocon Board it jumped to 133, and finally closed at 135, Chicago, Bur- lington & “Quiney worked off 43¢, to 1GL Between the calls in the afternoon it rose to. 165, and closed at 168, Sandusky declined 1, to 19 this morning, and inthe afternoon rose to 20%. The other changes of importance were Chicago: & Northwestern, which deeltncd: to 73; East- rn 1, to 35, closing at S0 ; Fitchburz 4, to 142; Flint X, to 29, closing at. 30%; do pre- ferred 1%, to 85, closing at 90: Little Roc| 134, to 4, closing at 62; La. & Mo, preferred, from 35 to 4914 Old Colony 1, to 125; Phila- delphia, Wilmington & Baltinore 1, -to 69, closing firm at 703 Summit Branch 1, to 27, elosing at '.’9;4' Union Pacific1}s, to 118545 Iown Falls 355(. to §0; Pullman 1393, "o 136, closing at 139; Boston & Albany :l.v to 165; New York & New England advanced ¥, to 54; Wisconsin Central’ 114, to 24, Very little was downg in bonds; - Hartford & Eries sold off to 53, but-went.up during the after- noon to 56, an advance of 13§ over yesterda; Eastern 43¢s advanced ¢, to 1053¢; New Mex- ico 7s declined %, to 116 Sandusky 78 34, to 104; Atchison i Grant 78 ¢, to 119%; do first 7s sold to 120)¢: Union Pacific 8s de- clined from 12015 to 119: Pueblo 7s 1, to 107; Boston Land touched‘.ll‘ , the lowest uoh\f for several ‘months, and Water Power de- clined 3. o oht m S > ““To the TWestern Assoctated’ Préss. Bostox. Feb. 26.—There was an improved feeling in the stock market at the close. . -~ _ FOREIGN. : THE OPINION IN FINANCIAL CIRCLES. ¥ Special Cable. £ ¥ Loxpox, Feb. 26.—The opinion in finaneigl circles here ig, that the new funding scheme in the United States will not induce bu: ing in Europe. The Economist says: “Should the bonds drop in price toa point at which & margin of profit for sales to Europe is reached, the' bonds . would doubtless be sent here. The course of trade being rather in favor of Ameriea, the balance would ~ have to be paid for in'gold. Should the United States Legislature persist in its present course it may work much mischief without knowing what it i$ doing.” LITTLE EFFECT PRODUCED. The disturbed condition of the markets in New York on Friday has produced but little effcct here. In 'some cases prices ad- vanced, but to-day there has been a decline all round. Atlantic & Great Westorn firsts meet readily with purchasers, as it] is be- lieved that negotiations are pending which will result in the payment in full of the interest on the first and second mortgages-of that Company. There is & rumor afioat on the Stock -Exchange to-day to the effect that Jay Gould has bouzht all the Philadelphia & Reading shares belonging to the MeCal- mont party, but it seems to rest on no better foundation than a misunderstanding of the story of the purchase of the Boston interest in the Philadelphia, Wilmington & Balti- more Rail.oad stock. -THE FEELING IN LONDON. To the Western Assoclated Press. NEW York; Feb. 26.—Wall street is more cheerful on an easier money market. Kie- nan’s Financial'Bureau received the foliow- ing dispatch: Loxpox, Feb. 26—3 p. m.—Market closing firm. Englishmen_crlculatiug upon the uitimate de- feat of the 3 per cent Funding bill. and money belng easy at tue London Stock Rxchauge, oper- ators bought blocks of stock at prices allowing large margins. CINCINNATI. ALARMED. Ci.\'cmmfl. 0., Feb. 26.—The bankers and capitalists of Third street are seriously con- .very great from the financial wen, from the cerned over the monetary situation. Trans- actions in stocks and bonds have been re- duced to the very minimum, and the fear is general that there will be a heavy decline in prices and thadt the whole list will suffer, CLEVELAND. WEAKENI CLEVELAND, O., Feb. 26.—The Ohio Na- tional Bank of Cleveland, has jnst tele- graphed to cancel the order retiring its cir- culation, amounting to £20Q,000. POUGHEEEPSIE. REFUSE TO SURRENDER, POUGHKEEPSIE, Feb. 26.—The banks hers will not surrender circulation. PHILADELPHIA. A BETTER FEELING. PHILADELPHIA, Feb. 26.—There is a much better feeling in the stock market here. ELGIN. DECLARATION OF THE BANKERS, Spectal Dispatch to The Chicaoo Tridtine Evoy, 1L, Feb. 26.—The .Home National Baok of Elgin has redeemed half its circula- tion, or §45,000 of it, on account of the Fand- ing bill.. It forwarded cash to the New York Sub-Treasury and holds its bonds. - Both-the Home and the First National express thein- selves willing to purchase 3 per cents if the fifth section be eleminated from the bili, though both declare their circulation nnprofitable unless the- tax on deposits be :abolished: . LA THE MIND-READERS CLEVELAND. THE SLATE SMASHED RBY.THE AFFAIR OF WALL STREET, Special Dispatch to The Chicogo Tribune. CrevELAND, O., Feb. 26.—A panic has booken up many a more substantial thing than a Cabinet slate, and if the story which is told here to-day Wwith some degres of plausibility that the slate which was made up a ferw.days ago at Mentor, and which was duly telegraphed to T TRIBUNE, has been broken by the . Funding-bill panic in Wall street, 1 suppose I must be content. It isnow asserted. that a boom hes sct in for the retenton of Sccretary Sherman in the Treasury Department, and,if this is done, of course that requires a complete rearrange- ment of tne Cabinet, as the President-elect had settied upon it. That he had settled 1t in his own mind there is little room for ques- tion, as those who know him best siy that he would never have settled down to the work of preparing his inaugural until that was done. FOLGER, OF NEW YORI DEPAI was thought to be a good deal of a discovery, and 1t was thought that he might harmonize all elements, but it was soon found, after his name was aunounced, as Gov. Fenton put it, “alittle prematarely,” that he was not satisfactory to Coukling or anti-Conkling. Several of the leading papers, notably the T'ribune, made editorial criticism of the ‘policy of the incoming Administration load- ing itself down with an appointment from the Conkling vaults.to the ‘Treasury Depart- ment. All these things had their weight, but I still think that there has been no ma- terial change thus far in the slateas pub- lished in Tue Teisuse. The story as it is told is worth repeating, however. I give it in the words of my informant, who is one of the leading politicians of the State. He said: “IT IS AN OPEN SECRET to those who are posted in Ohio politics that, when Foster gave up the Senatorial race here, hie was assured thaf he would either be chosen in Garfield’s Cabinet, or John Sher- man would remain there, while Fester could go unmolested to the United States Senate. Whenaver Foster has been questioned in re- gard to the office he was expecting in the fut- ure, he has invariably said that he was de- sirous_ of becoming Senator, and-sought nothing else. When Sherman and Foster were asked if there was any understanding between them in regard to this matter, as a natural thing they denfed if, neither caring to confess that 2 bargain had been miade. One would suppose, from the top of a hay- stack, that Sherman would prefer to stay in the Senate, but this is not so. & 1€ IS PROUD OF HIS RECORD as a financier, and yet hopes to o before the people on it. In the Senate he has now high liope of making a second campaign for the Presidential nomination. ‘Chen Blaine, a prominent competitor at Chicago, has re- ceived a call into the Cabinet, and Sherman would " like it on that account. All these things are just as they have stood for weeks ast. At first Garlield- felt that he would have Sherman on no consideration, out, after he found so much difliculty in aett{nfi the matter settled in New York, heexpresses himself as sorry that be did not retain Sher- man. Asthe thing now stands, the appear- ances are that the new Administration isto be INAUGCRATED WITH A FINANCIAL PANIC - ON ITS HANDS.” *Do vou think the panic was inaugurated by any Yaniflcml means, to boom Sherman , Tdon’t. I think it simply happened so; Ieannotsce how it can help but boomn him, if he exercises the same degree of skill in quieting affairs that he has throughout his entire Administration. The dgmand will be 'OR THE TREASURY T great business centres, that no green hand be given the helm in the serious times of storms. 'These” thinas will help very much. But.”best of all, it will let Gen. Garfield out. b “Whatdo you think the Empire State would get in:sucli-a case as thag?”? ;== \ 1t would get tha Postmaster-Genernlship, and James would doubtless be the man.” “That would make a Cabinet more after the precedent that has been set of late years, and you think it would suit, do you 2 I am confident it would do better than anythinz under the circumstances. GARFIELD COULD TELL THE CONKLING MEN that it was: a matter of necessity to. keep Sherman if the proper backing were received fromthe New York bankers. All will -ad- mit that'the developements of the next few days ,l,u the ‘moncy market will tell the SIOrY. MENTOR. - ALL UPSET. Special Dispatch to The Chicagn Tribune. MENTOR, O., Feb. 26.—The Cabinat, if cur- rent gossip may be believed, is all upset again. Everybody has got down to guessing once more, though upon what basis they can build does not appear. Visitors comeand go. They obtain only a very brief Interview with Gen. Garfield, in any event and notlffug, he says afiords any inkhng of what he will do. Prosident Ilayes recently expressed the opinion that John Sherman.would, after all, be his own successor as Secretary of the Treasury, and the proposition has gained wmuch strength. Siace the panic ot Friday Gov. Foster, it is said, is making prepa- rations to vacate his gnome in Columbus, and this is regarded as an indication that he will either go into the -Cabinet or succsau Sherman a3 Senator, Foster's intimate | friends assert that he is going into the Cab- inet. The Cincinnati Enquirer prints a re- port, which it states is weil authenticated assigning Levi P. Morton to the Navy De- partaent, Robert Lincoln to the Attorney- Generalship, and Gov. Foster to the Post~ master-Generalship. ADDITIONAL STRENGTIL is given to the probable nomiuation of Lin: coln from the fact, which was learned to-day, | that Gen. Logan’s visit to 3entor was for the purpose of destroying whatever chances - Emery Storrs might have, and putting Lincoln into the Cabinet. ‘In doing this Logan sought to keep Storrs from obtainmng the upper hand in Illinois, and thugbe enabled to oppose the Senator’s plans. Gen. Sharpe, who was here yesterday, came undoubtedly to put in a word for Folzer, but it is presumed he went y.with a flea in his ear, an tor stock is again on the top- most wave. Fairs have been quiet here to- day. Gen. Swain returned from Washing- ton, and on the evenimyr train came Staie Senator C. S. Kauffman, of Pniladelphia, and State Senator J. W. Lee, of Western Penn- sylvania. A number of telegraws awaited their arrival, and it is likely tiey have come’ to work up ° PENNSYLVANTA’S CLAIMS in the Gabinet. A number of relatives and old acquaintances of Gen. Garfield called to-day,—among them sowme from Colorado and fowa, who had not seen the General for over forly years. ‘They brought their trunks along, as if intending to stay, but probably the active preparations for the departure gave & gentle hint, and they remained at the farm but & few hours. WABIIINGTON. JUDGE FOLGER'S CLADL Wasmyerox, D. C., Feb. 26.—The opin- ion Is quite fresly expressed hers by leading Republicans:that the publication directing attention to thesult brought against Judge Folger, of New York, for commission on sale of internal-revenue stamps while Assist- v of sald commission as may not alr been auo,we'll to him under the nr:?lriloggw the act.” The Supreme Court has boor considering this case on_appeal for Een months, and it is known that the cour:)m been embarrassed about coming tuzdecisléu so evenly Is it divided. It is not impropap, that a decision may be rendered on Mnnd;,la next. Whether tho claimis a justong.. not, the belicf is expressed that Judge Fuf o cannot any longer be regarded a3 a probapy Secretary of the Treasury. le 5 THE PRESIDENT. A Pennsylvania Republican poli that, in conversation with Prflgidfixctla?{san vesterday, the latter said, that, so far u; o4 knows, only two members of the uext ca{“’ net had been decided upon, and these 3 Senator Blaine and Robert Lincoln, = "0 MONTREAL. o BADLY HUE 3 [ONTREAL, Feb. 26.—The talk he; in financial cireles was about the pucl New York yesterday. Quite a number o Montreal operators were badly hurt by u:: fall in stocks, but, as they were ablety up more margins, they pulled through, e will likely get out without loss If the jg. provement continues. Our market through better than was expected, mhfii‘;fi the amount of stock h i o t 91; ock held on margin Isvery ALBANY, FOLGER. Speciat Dispatch to The Chitago Tribuns, WasHINGTON, D. C., Fed. 25.—The Eyens, Star has the following dispatch !ramA]han’! ALBANY, Feb. 26.—1t 18 quite d o tathal b tHAT Judee Solece fl;fl%’;:‘“fi: tendered the ScoretarySnip of the Trsiry, o} at theseleetion for ‘oSt ot made from New York. Sl Bebe « NICKING” HORSES, A MHIA Defense of the Praetice, Ace companled with Some Alleged Faets RRegarding DOr. Paaren,and His Crye elty to Wogs. 3 ) To the Editor of The Chicago Tribune. Cmcago, Feb. 26.—In your lust Sunday's fssup was an article on **Nicking Horses.” It ap. pears that tho Humane Soclety, having con- cluded that the practice i3 cruel and barbas and utterly Indefensible on any principle of praciticul, uttlity, produces. an incoherent and tedious letter from one N. H. Paaren, M. D, in confirmatior "0f ‘its views, and publishes such letter s the testimony of an expert. ‘Whbo is N. H. Paaren, M. D.? Is he an expert in what constitutes cruelty to animals? If so, how bid he pain the experience to entitle him to tha distinetion? Is it based on the well-known fact that of all the hurdened men in this community therc are none whase asts in reference to cer- tain animals are moro uselesly and persistentiy §;uc.-17 than those of this same N. H. Paaren, The bumane 3. D. expert lets out trom the re- cesses of bis ornculur tind the profound assere don * that thers are slm!es&ol cruelty, we learn, 50 fong ugo a3 Hozarth,'and that those stuzes arc still exhibited and practiced; eyen in these dnys of refiiement, our every day’s erperience and observation are quite suflicienr evi- dence.” Tike a true expert of the mod- ern school, . our humane M. D. re- fers to authority, and swould back up his extraordinury stitement that there were stuges ot cruelty inthe timeot Hogurth by an appeal to Hogarth himself. Aud he aseorts that there are stuges of cruelty to-day; even {n this refined age, and would substautiate this tocal assertion by referring to his own experience. Would that all propositions of experts were as weil founded! ‘The experience of the humace . D. in the wat- terof cruelty exercised on animals i3 of un un- usually convincing character. - For years *his humane M. D, has been in the habit ‘of - raising” dogs of various breeds, and when at a suicient stage. of developmeat to endure tho operation, be bas exhibited his skilt with the knile and scissors, “for the sake of fancy or asmall pecuniary gain,” by clippicg the ears and cuttng off short the tails of the animalé. For this mutilation of nature be bay not bad the semblance of an excuse which did not grow out of avarice and indilference ta suffering. No object of utility wasto be sub- served, Aud yet this same M. D. has the audacity to term - **picking™ horses “s Dbarbarovs ‘and utterly -useless ‘operation.” On the contrary, it Is its utility whieh- provokes the operation. While it detructs but lfttle from the convenience of tho harse, it IS of incalcuable advantuge to its human driver. There are horses, excellent roadsiers in overy other par- ticuiar, which endanger tholives of thelrdrivers by-a habit of throwing their tails over the lines, and. keeping them tnere, -thus-rendering them unimunageable, and often .resulting in . runaways. Thi e gmcu.!s of nicking _removes:: this. dnnger. Ja - the* slight: fncen- vonlence possible to such horses Dy reason of the operation of nickiug’ to be offset against the value of human life and limb? We should ~profer to appeal to-other uuthority thdn that.of our dog-ear und tail-cutting 3. D..-We will not allude 1o his bypocritical platitudes. Our sym- ‘pathies are too strongly enlisted in behalf of the objeets of the Illinots Humane Society to lise to gca it o far deceived ‘s to in any way trustto tho stataments a philanthropist of the Paaren typo. . * s o Our humane M. D. may be one of that classso carcful of the.féelings of the pup that he would cut off itstailan inchata time tosuve itssuf- feringe, or rather. perhags, to insure his not cat- ting too ghort for pecuniary. advantage. Let us'go to a pure fountaln for suthority and advice, and not 1o the: stream whicis has bes come polluted . with tho_blood of torture and cdruelty *Cruel or not Cruel?” that's the ques o wThou hypocrit! First.take out the beam out of thine own eye, and thou shalt see clearly 10 remove the mote from thy brother's eye.” PR P . _T.T.TAYLOR, Of Fisher & Taylor, Nos. T, 7, and 8l Sixieeath street. p % ———— THE HISTORY OF ZERO." A Curious Instance of How Wise Men's Errors Arc Rendered Immortal, . Metal Worker: L + Zero,” on the common thermometer, like the fanciful names of the constellations, i2 a gurious instance of the way wise men’s errots are made immortal by becoming popular. It may be worth while to suy that the word ftself (zero) cowes to us through the Spanish from the Arabic, and mesns empty; hence nothing. In expressions hke “90 Fuhr.,” the abbreviation Fahr. stands for Fahrenbeit, 8 Prussian merchant of Dantzic, on the BaltleSes. His full name was Gabriel Danfel Fanrenhelt From n boy ho was a close observer of nature, and when only 10 years old, in the remarkably cold winter of 1700, be experimented by putting snow and salt fogether, and nojiced that 1f produced a degree of cold equal to tho col day of the year, and thut duy wos the coldest duy tkat the oldest inhabitants could remembery Guibricl was the more struck with the colacl” dence of bis Jittle seientltic digeovery, und hast- ily concluded that he bad found tha fowess de- gree of temperuture known Ia the world, either nutural or artificial. He called -the d zeru, nnd constructed a_thermometer, of Fud3 weather wluss, with a scale graduating up from zero to boiling polnt, which he numbered 2k and the freczing point &2, because, 43 h; thought, mercury contracted the thirty-5eco of its volume on being cooled down from temperature of freczing water to zer, 80d €X° panded 180th on being heated from tha freesiad to the boiling point. dof ‘Tyme showed that this arrangoment, Instea being truly. sicntitic, wus 08 arbitrary 88 th. division of tho Lible fnto verses and chaptery and that these two points no more represeates the real extent of temperature than *from Dsl to Beershebu™ expressed the exact extrenies O Palestine. But Fabrenheit's thermometcr fo .been widely adopted with its inconved enl;. scale, and none thought of any better ul! it pame became an authority, for Fuhrefinew finally abandoned trade and gave himself up sclence. Tho three countries which use Fahreabelt ‘lnf; d, and Americi. 1 5 Englacd, Holland, Germany use Heaumer's thermometer, which to bolltnz point Is counted 80 e above the freezing. France uses the cflflu grade thermometer, 50 called becafise l§ marl the boiling point 100 degrees from <5 puint. On many accounts the ccnn;rm'damif‘“ tem 18 the best, and the triumph of conve! e will be made when zoro is made:the flg‘i’n“ point, and when the boiling: poiat I8 put l:(m” 1,000 degrees from it, and all the !ubdlfl;m el are fixed decimally. ' It Fabronhelt bad Fhis this at tirst, or evea Jf he had made It 008! g nhmly émpmvemonnml u{‘u.-; m’,n':&b;l;c udopted his error, the lnck of oppo! ¢ was really his, would have secured 1o his fnves* don the patronage of the world. ————— Arming His Adversarys =5 Virginia (Nev.) Chronicle. James Brown was at u social dance gived b Yellow Jucket Hose Compuny in the i saloon building, got druu&: and became ROBY: ant Treasurer at New York, will remove that gentleman from the list of avail- able candidates' for the - Secretaryship of the Treasury. A gentleman high in offi- cial life said.to-day that the opponents of Senator Conklinz and Judze Folger were making the most of the latter’s claim against the Government to prevent his appointment. It was true, he said, that the Court of Claims had unanimously decided against the claim, but, in doing so, had to overrule an opinion of Judge Blatehford, of New York, that the claim was ‘a just one. In its opinion_ the Court of Clafws says; *If the Court in New York has correctly interpreted . the act of 1864, the claimant’s pasition Is iell taken, andit will be our duty toallowito him so much or Town Marshal Kennedy told bim to keep stil ;o would arrest bim, Browa eald: “If L Wiy neeled you couldn't tuke mo.” Keapedy D = his pistol aut his pocket and banded it tO Mln suying: " Now yon're heelod, what are you KOItE w'dor You aré sfraid to shoot.” Brown T scarcely taken tho pistol fn his bands beforo fired, mortaliy wounding Keonedy. LR —————— A Careml Horse. ¥ ¥ Turonto Globe. 2 On Saturday afternoon o facmer loft bis horsa and slelgh. on Dunaus strect while he weat 12 astore for a fow minutes. A quantity om' fulunztrm?a E‘glu:a hexu'«:si ot 1[1 housc on to the 8¢ walk startied the animal, Quber sstaet. It soon ot Fid of tho sleied, &3 Tanon to the sidewalk, Inits race of bt mile on the sidewalk it jumped over & z!“ll‘lllry threo children without doing them any i0dusye and again overa perambulator ol bady without touching either. SR 2