The New York Herald Newspaper, July 20, 1873, Page 3

BROOKLYN TRUST COMPANY. A Sad Story of Defaleation and Dis- honored Reputation. The Late Ethelbert S. Mills a Defaulter. SUSPENSION OF THE COMPANY. Appointment of a Receiver — Estimated Loss About Half a Million of Dollars—Hopefal Position of the Depositors—The Cause of the Diffi- eulty—A List of the Real Estate of the Late Mr. Mills—Particulars of the Trust Moneys Now on Deposit with the Company—Another Defalcation Bumored. ‘The Brooklyn Trust Company suspended payment yesterday afternoon, and Mr. Daniel Chauncey, President of the Mechanics Bank, was appointed receiver. At a meeting of the directors of the com- pany yesterday the following official statement, which explains in part the cause of the suspension, was given to the press and issued in circular form to the depositors. To rns Fosiic!—The undersigned. directors of th vax Pusiic:—The undersign rectors of tl Brooklyn Trust Company regret to announce the #1 em of the company. je sudden death of the late nt, Mr. if, indaned & thoronge investigation of e bank, which has resulted, thus far, in of a large | overdraft | on the of i ada ms Hetyengaedl 4 reigned, close o' business hours on yesterda) pelieved it ila ad possible for the company to cont! me its business. e unex: pected action of the esterday atter- Noon, through which the company its exchanges, declining any longer to clear for us,.and which action ‘will, 1n our opinion, neces to be made us which we cannot at us te determine upon a general suspension of business as a | ma’ no! nly to the depositors of the com- ckholdera. From the examina. believe there wil no. con- mit amy ‘at ull, to the depositors, ‘It has been impossible for us to procure # full attendance of a. ‘quorum of the Board, as many of the directors are out of town. The examination will be continued, and a tull statement of the affairs of the sep pe Ak to the pub- Bie at the earlient possible moment. The public may rest Siyured that no effort will be wanting on our part to ‘@bouts prompt and satisfactory setulemen iy ig DANIRT. CHAUNCEY. ALEXANDER McCUE. WM. 8. TISDALE. J. 8. ROCKWELL. & L. HUSTED, JAMES D. FISH. JOHN HALSEY. HENRY SANGER, ‘The late Mr. Mills, who was, as stated above, President of the company, was accidentally @rowned on Tuesday last while bathing at Coney Island. His funeral took place on Friday, on the tay that the fact of the defalcations became par- tially known to the public. Mr. Chauncey, who has taken the place of the deceased President and ls now the receiver under an appointment by Judge Pratt, stated to a reporter of the HERALD yesterday that after the death of Mr. Mills was communicated to the directors it was deemed ad- visable to have a meeting of the Board, and at was then decided that there should be ® complete examination of the books, not that it was supposed that they expected there was anything particular to discover, but because At was usual todo this un the accession to office ofa new President. The character And réputation of Mr. ‘Mills stood so high that his associates in the Board had the fullest confidence in him, and the suspicion that he had misappropriated any of tke funds of the company was entirely away trom their antici- pations. An examination of Mr. Mills’ account showed that he had overdrawn to the extent of $140,000. That wasarevelation to the directors ‘and they at once proceeded to examine the collaterals of the company, on which large advances had been made. ‘This examina- tion was by no means tisfactory; it was not yet compieted, and would not be until Monday or Tuesday next, when the result would be given othe public. Enough had, however, been dis- covered to satisfy the directors that if the com- pany were compelled to realize immediately on these securities there must be a loss of over $300,000, The first is a loan of $100,000 on $130,000 of bonds of the State of Georgia, issued in aid of railroads in that State, and which are better known as the _Bullock bonds, having been issued by Governor Bullock. It is claimed that these bonds were ie: gally issued, and the State authoriti€s of Georgia refuse to pay interest on them, and none has been paid for the past two years. These may, and probably will, be redeemed by the State, but at present they could only be sold ata very heavy discount. The second item is a loan of $150,000 on $200, of first mortgage bonds of the New Haven, Mivefje. town and Williamsburg Railroad Company, pyilt as an independent road, but now provofed to be a link in the new air line between x r Boston. ‘These bonds are alse, ge) Arie acon Beane thelr value; but the direests hope, if not too Closely pressed and com Jeited to close them out at A sacrifice, to reallze emething like the amount of F wee are some a eoee 4 that may prove a joss, but these in the aggre af, fe do not 100t up a large amount. Mr. OW” quSey said that ne did not think that ‘the not would show bef loss that the company was Ot able to meet, and the depositors would cer- sustain no injury in the end. in conse- , of the unexpected action of the Nassau ik, it had been thought prudent to suspend Dasiness unti! an opportunity had been afforded of eae the affairs of the bank the fullest investiga- jon. The present deficiency, reckoning the doubt- ful securities as worthless, Was over $450,000, THE CAUSE OF THE DIFFICULTY. Since the organization of the company, about six years ago, Mr. Mills has been a large speculator in Feaiestate. He owned about seventy-five nouses in Brooklyn, and, as will be seen by the statement given below, this property was very largely en- cumbered. ‘The seven nouses near the main en- trance to Prospect Park, built by him two years ago, were recently sold at a heavy: loss. The houses are built in a very handsome style, and peed cost about twenty thousand doilars ne houses were too expensive for the general occupants of suburban property, and they re- mained unlet. The same was true of a row of five brown stone front houses in Clinton street, between Sackett and Degraw streets. They were. far superior in character to any property in the neighborhood, and as livery stables were immediately opposite these houses remained also unlet, and were, indeed, only par- tially finished. The result of this condition of Mr. Mills’ real estate was that it was incumbent upon bim to mo it; he sought to obtain additional mortgages, but could not succeed, and among the many rumors that were prevalent yesterday it ‘was said that Mr. Milis had paid five per cent per month for money very recently. THE REAL ESTATE OF MR. MILLS. The condition of the estate of Mr. Mills may be estimated from the foliowing list of mortgages upon his property in cnis city, copied from the books in the Register’s office. It is believed that all the reat estate heid by Mr. Milis is represented im the list. The mortgages amount to $136,000 Ethelbert 8, Mills and Ellen L., his wife, to th York Fire Insurance Company—Mortgage’ tor dated June 9,71, Recorded lber L014, page 335 of July %, ‘71. South side Watren street, 274.7 t east from the southeast corner of Warren street and Sixth avenue ; thence south 100 teet; thence t 1S feet: thence north 100 teet to south side Warren sireet; thence west along Warren to beginning. ‘The same pat to James tf. Watson—Morigage tor $1,500, dated March 21, 1571, recorded liber 1,058, page -41 of mort 4 ja Warre! t; thence nortl aven' ae eet gino ue 20 feet to beginnin The same parties to Leonard Moody—Mortgage for 2. dated November 1, 1872, recorded liber 1,108, of mortgages, November 8, 1872. edtord avenue: 100 feet north from nort Lutayette and Bedford avenues; thence west 10) feet; thence north 2) feet; thence east 100 feer to west side of, Fatayerte avenue thence south along Bed- tothe same parties to the aetie—Mort $1,000, je same—Mortgage for $1,000, Gated November 16, 1872, recorded liber eeu page of mortgages, November 18, 1! Beginning at ap on the west side of Bedtord avenue 140 feet north northwest corner of Bedtord and Latayetie avenue thence westerly 10 feet; thence northerly 20 feet, mo or less; thence easterly 100 feet to west side ot Bedford thence southerly along Bedtord avenue 2 tect iF less) to beginning. bert 8. Mills to George D. Munroe.—Mortgage for dated December ¥, 1872, recorded liber. i,116, of mortgages, December 19, 1872, Beginning at & point on south side of Degraw street, 185 fect we: west corner of Bond and Degraw streets; thence erly along Degraw street 2) feet» thence southerly WO feet; thence easterly 2) feet; thence northerly 100 iB weetnelbert f Mi ia to Benjamin Sewall.—Mortgage for dated February Ae 73 recorded liber 1,132, page mortgages, March Beginning on south side wr street, AS feet West from southwest corner of and peeree streets; thence west al araw £20 Leet thence south joo feet; theuce Teet; then north t ‘inning. Tuelbort 8. Mt na iilen, is his wife, to Cyrns W. tor E. F. Stone, deceased.—Mortgage ‘tor Bie dated May 28, HA recgrded ber —, page. 0) i . cast ot Wash avenue, 1 feet north trom northeast Eiaw NEW YORK HERALD, SUNDAY, JULY 20, 1873—TRIPLE M. Milis—Mortgage for recorded liber —, page — of Tr those certain houses and lots on | md, known by | 15 Warren street: also a : on north = We venues, known by street S (68, 685, 687, G89, GOL, 689, 08 and ov Warren’ street: also certain house and lot on south side Warren, between Sixth ‘and Flatbush avenues, known by street No. 7! Warren street; algo ali those certain houses and lo! south side Wyckomt street, between Filth and Si aven' known by street Nos. 446, 450, 454, 458 and 460 Wyckoff street. he ‘sane 16, James M. Mille —Mortgage for Hive certain’ houses: aud lots Norit Warren ty igs “and Five certain houses and lots, fect east from northeast corner Warren street ‘a Fourth avenue, thence east 10) feet, thence north 100 feet, thence west 100 feet, thence south 100 feet to begin- ning. Also two certain houses and lots, North Warren stree' feet ide Warren street, 1164 feet 93.9 feet, north 81 feet, t to beginnt wide Warren street, 20k feet east of Firth ce east IAG feet, thence north &1 feet, west south 81 feet to begin % ct feet east of Sixth ar arren strech 2167 giiue, east 1K9 feet, south 100 feet, thence wost 18.9 ence no! Deginning. Also, South Wyckof street, Tato feet east of Fifth av- enue, thence east 189 feet, thence south 8! feet, thence ‘west 189 feet, thence north 81 feet to beginning. Also, South’ Wyckoff street, 116.4 feet east of Fifth av- enue, thence cast 18.9 teet, thence south 51 feet, thence ‘west 18.9 feet, thence north SI feet to beginning Also, South Wyckoff street, 153.10 feet cast of Fifth av- enue, thence east 189 te nee south 81 feet, thence ‘west 18.9 feet, thence north &l feet to beginniny Also, south Wyckoff street, 191.4 feet cast of Fifth ue, the east 37. the south 81 feet, the west 37.6 feet, the north 81 feet to iD. Also, north Sackett street, 200 feet cast of Hoyt street. the east 98 feet, the north 100 feet, the west feet, the south 100 feet to begin, ‘Also Sackett street, S71 feet cast of Hoyt street, the east ry et ae north 100 feet, the west 56 feet, the south 100 feet to begin. Also, west Bedford avenne, 100 feet north of Lafayette avenne, the west 100 feet, the north 20 eet, the east 100 Jeet, the south 20 feet to begin. Also west Bedford avenue, 140 feet north of Lafayette avenue, the west 100 feet, feet, the south 2) feet to begin. HISTORY OF THE COMPANY. The company was organized a little more than six years ago with a capital of $500,000, Mr, Mills was one of the chief organizers, and was chosen President, which position he has held ever since. ‘The following are the officers of the company :— President pro wm., Daniel Chauncey, vice Ethel- bert S. Mills, deceased; Viee President, Josiah 0. Low; Attorney and Counsel, Alexander McCue; Secretary, M. I, Rodman. Trustees—H. E. Pierrepont, J. S. Rockwell, S. L. Husted, Daniel een pogg t John Halsey, Henry Sanger, W. C. Kingsley, W. S. Tisdale, Josiah 0. Low, John P. Roll, C. A, Sprague, Alexander White, Edward Harvey, James E. Fish, Alexander McCue, H. J. Cullen, M. D. The company is au- thorized to act as receiver, executor, trustee or guardian; can act as agent iu the sale or manage- ment of real estate, collect interest or dividends, receive registry.or transfer books, or make pur- | chase or sale of government and other securities, DEPOSITS OF THE CITY AND COUNTY OF BROOKLYN. Comptroller Schroeder is at Shelter Isiand, and could not therefore be communicated with yester- day; but the Deputy Comptroller (Mr. Rich) states that the amount deposited with the trust com- pany was abou. five hundred and two thousand dollars. Of county moneys the County Treasurer said that not one cent had been deposited with this company. THE TRUST FUND OF SUITORS. The following are the particulars and amount deposited with the Brooklyn Trust Company by the County Treasurer, being sums that are matters of litigation in the Courts :— Supreme Court. R. Stillwell vs. Jane Ellen ‘are ctal.......- Bist states irt—W. @, Kowenhoven vs. John Fer- Tight vs. William Sperb. Supreine Court—Ab. Lott vs. Samuel Shi Supreme Court—Edward McNamara v pre’ Ro m Supreme Court—Ephram L.’ Snow vs. Mary n.. ol Wars sas 10619 Supreme Court—Suit No. 1, Ramon M. Estevez vs. rv 41 88 nn Miller. : - 401 72 Supreme Court—Fioren ry, an infant, un- der 14, to settle her real esiate. 104 93. Supreme t-Jacob Pecare vs. Supreme Vouri—Joseph Hi Stanton : Supreme Acret, special deposit. Chey Court—Kennard Bu siaas Gite xton, Di . ire Insurance Com- pany of New York vs. Jabez C Supreme Court—Eupli 8. N ower. Supreme Court—Samuel 8. Po! te Cor} pe oupreme Supreme Court—John Lefferts vs. Bridget E, Ure gory. ce... sy 2,409 83 Supreme Got Engleman. 99 28 beige Cor Hall. 45 10 1es Miner. 183 41 Suprem’ iner vs. Chi Supreme Court—James Burns vs. Cacherine Dono- vai... 183 7 Supreme Cour:—Wiili ‘ope. 72 82 Supreme Cour jcLaughlin. - 213 97 City Court—Lou in 719 72 Supreme Court—Richard W. Hurlbut vs. i 518 93 292 47 - 2,079 60 152 08 1 83 1,043 65, 3 i 491 10 outh Broo! tion vs. J es C, Rhodes... . ‘827 36 bry! tc) Court—kdwin KR, Sheridan vs. John An- Tews. . -- $2059 Supreme Court—diarket Fire Insurance Company | 4, vs. Hugh McEvoy. . Supreme Court G. john Collins and Suprem Wilsey and others... os Supreme Conrt—Kose Sinith vs." Mt juribut vs. fargaret’ Mulli- Wis bacobe Uyak subg +. 155 Gb Court—Elihu Ayres vs. George Chappell 27 47 Conrt—Joseph’ Larocque vs. Hi H. nd others: é = 433-95 Supreme Court va illiam J. Hobday: a. = 13 Supreme Court—Charles Craske vs. Amelia M. puilivan.. 2117 Supreme Court—Lewis Reilly... Supreme ‘Cot Bushrod Vaughan Supreme Couri—Mary ‘A. Bioc Elizabeth King... 2... ' Vs Supreme Court—William M. Tweed, receiver ot Commonwealth Insurance Gompany, vs. Haynes and others, ; Court—bliza A, Supreme Uourt—Sarah Ani Newmut and others. . iinisigtodaxiaaes. OO Supreme Court—Henry A. Hoyert (No. va Wi _ham all +f 26 3 Supreme 63 40 Supreme 1i9 0s Supreme Court County Court—Phillip Sinith Hi io Supreme Court-North American Lite It Company Vs. Pascal Terriault and others, city Court-Edward Mitchell vs" frene Beneons,. 28 66 County Court—John K, Underhill vs. Matthew J. Byrne... a se... 287 8 Supreme Court—Willlam 'R. ‘Sine iting... = 523 71 City Court—ihomas Geraty vs. and other 2,600 63 Kennedy va. Arthur . Allen. tee fee enesesss eseeees » ma Supreme Court—Mary “Ann Well rly... " Acke! 35 99 County O' iteiily County AL and’ 1, ee Donaldson, infants, tor leave to seli real estate, 100 75 5 Ceurt—Jotin Pyne, Trustee, &ec., ys. 0. ‘ 83 61 323 ws 669 69 tases 739 52 Kate A. Moore 1,733 67 ine vs. Samuel art—Leonard Cooper vs. Margaret 6. dire Young vs. $ v8. Read te 8 len i 4.435 52 y f Weismann, ‘183 39 lal Court—Samuel Garrison vs. Ellen Man- ning. 16 Supreme uglesang and wile Supreme Court—Charies Supreme © y ‘Church and others Supreme Court—H utlen County County Court—Liljius Grace vs. Joseph Hall. e north 20 feet, the east 100 | money by this company. County Court—Dime Savings Banks va Richard Mullowney... City Court—J. ‘oe Brown va. J. Lewis... - Supreme Court—Henry W. Miller vs Caroline ipman, ... Rika .. 47471 rene Court—Wiiliam Tilton va’ Roderick D. A BR oan Brera satsendes sat tee Supreme Court—Eiiza and William Nugent, in- fants, appoinment of special guardian to’ sell real estate <. AST 78 Smpreme € Rosai jonigle and others. Shr 635 55 THE APPOINTMENT OF THE RECEIVER. Counsellor Edmund Blamey appeared before Juage Pratt, in the Supreme Court, Special Term, and made application on behalf of Alexander McCue, a Judge of the City Court and a stockholder in the Trust Company, for the appointment of a receiver, Mr. Blamey’s formal application set forth that— The Trust Company is a corporation duly created under the provisions of an act of the Legislature o° the State of New York. entitled “An‘act to incorporate the BrooSlyn ‘Trust Company,” passed April 14, 1866; that the said com- pany is a corporation having banking powers, and has the power to make loans on pledges aud. deposits; that the plaintif, Alexander McCue, is a stockholder ‘of said deteudant, ‘to wit, that he is the owner of 200 res of the capital stock of said defendant; sald defendant has become unable to Pay |e debis as the same mature ana become due, and still is unable to pay its debts. Wherefore pla judgment that the defendant be dissolved and ‘om exercising its corporate rights, privileges er iran- chises, and trom collecting or reeciving any debts or demands and trom paving out or in any way transterri| ‘or delivering any of the moneys, property or effects o defendant, and thata receiver be ‘epgointed of defendant and that the effects and assets of corporation be dis- tributed according to law, and that the plaintif’ have such other relief as may be proper. The usual verification or aMaavit o1 Judge McCue accompanied the application. id Pratt thereupon granted the following order :— It is ordered that the defendant and its officers be and the same are hereby enjoined and restrained trom exer- any of the corporate rights, privil of said corporation and from collecting and receiving any debts or demands, and from paying out, or in any way transierring or delivering to any person any of the prppeny or effects of said deiendant until the further order of this Court. ‘ And it is further ordered that Danicl Chauncey, of the city of Brooklyn, be and he hereby is appointed re- ceiver of the property and effects of said defendan to take charge of the same and two. collect an sue for and recover the debts s that may be due and the pro} that may belong to said defendant ‘upon? te Ruin with the "i so = New York, in the sum ot $100,000, ‘sureties condl- flgned forthe 1aithful performance by sald receiver of trust, which bond, at its form and tion and sufficiency of its sureties, shall be. ‘one of the justices ot this Court. | 0. EP. The receiver filed the following bond :— Know all men by these presents, that we, Daniel Chauncey, James 8. Rockwell, Alexander McUue and vmour L. Husted, all of the city of Brooklyn, are held firmly bound with the people of the State ot, New York in the sum of $100,000, lawful money of the United States of America, to be paid to the sai the State of New York, for which payment well and truly to be made we bind ourselves, our heirs, executors: a Leica che jointly, severally and firmiy by these resen tee with our seals and dated the 19h day of July, Whereas by an order of the Supreme Court, Kings county, bearing date the 19th of July, 1373, made by Hen. Calvii'E. Pratt, Justice, in an action wherein Alexander MeCue is piaintif and the Brooklyn, Trust Company the defendant, the above bounden Daniel Chauncey was ap- jointed receiver of the property and effects of, the rooklyn Trust Company, upon his filing with the Clerk of the county of Kings a bond to the people of the State of New York in the sum ot $100,000, Now the condition of the obligation is such that if the above bounden Daniel Chauncey shall, according to the rules and practice ot the Court, duly file his inven- tory, and annually, or oftener if thereunto required, duly account for what he shall receive, or have in charge as receiver, in the said cause, and pay and apply what he shall receive or have in charge as he may from time to time be directed by the Court office of receiver in all things a and meaning Of the aforesaid order, then this obligation to be void, otherwise to remain in full torce, Sealed and delivered in the presence of E. 8, Lombard. DANIEL CHAUNCEY, 1. 8. ROWELL, A. McUUE, 8. L. HUSTED. EFFECT OF THE SUSPENSION IN BROOKLYN, The rumor that there was trouble with the Brooklyn Trust Company went through the city hep doen with great rapidity, and although there ad been reports in select circles, during the last few days, of a suspicion that there was something wrong, the general public had not heard anythin, of it until yesterday. From early morning unti the doors were closed in the afternoon there was more or less excitement caused by the pass ing in and out of anxious depositors. It is only fair, however, to state that there ye. @ general feeling of forbearance mani- fested by these interested parties. The: are mostly comparattvely pear men, who will not be inconvenienced yery greatly by the suspen- sion, if 1t is only temporary. After the resi known of the director's meeting, Judge one of the directors, came ‘ding to the true intent = it was icCue, from the board room, apd he was immediately surrounded. He impro- vised a speech to the following effect, He said :— a sa be AL yf Bop ahs GuntotEN—T believe thera will be Bo Loss to anyof you. Idon’t think any of the depositors will lose funy Many of the directors are out ‘of town atthe present time, and consequently the aflair has not been arranged; but'a full statement will be given to the public at aneurly day. Iwill state, us one ot the directors, that so fur as I know,’ the ot the company has not been exhausted. In my Judgment there Is no great possibility of our losing any thing. Lam a depowicrto the amount of $1000, and J Ain willing to give that inuch more to pay off the depegitors. Tam sure that others will do he Rn ‘Tie amount overdrawn will not exceed over $1 d the capital stock of the company is $500,000, What has been taken is Just the amount of the surplys Th's seem: to galjs @ Péry large number of the listeners, Teh i Tuere 1s a growing opinion that the desaication will prove very much larger than has been already stated. RUMOR OF ANOTHER DEPALGATION, It was stated yesterday that Mr. Thomas H. Rod- “man, the secretary of the company, whose signa- ture was necessary to all the draits of Mr. Mills, has also an overdrawn account at the Trust Com- pany of $34,000, ‘ZT PARALLEB CASE, “ ‘rhe cafS of Mr. Mills is very similar to that of Wm. 0. Rushmore, former President of the Atlantic National Bank, who was Killed a few years ago by & collision ou the Long Island Rauroad. Up to the time of his death Mr. Rushmore was considered a man of probity and was supposed to be very wealthy. Anexamination of his affairs after his untimely death showed that he was bankrupt and that he had used the funds of his bank to such an extent as to completely bankrupt the institution. A settlement ol! its affairs revealed that the capital and surplus were entirely used up and about one hundred thousand dollars of the funds belonging to depositors had also been taken. There was nothing whatever leit for the stockholders of the original capital, and the wrecdé was cleared away and the concern started anew with new capital. REGISTER M’LAUGHLIN’S MISTAKE, Register Hugh McLaughlin 1s a loser by the crash of the Trust Company to the extent of $5,000. A few days prior to the death of the President of the institution the Register drew the entire amount, which was on deposit to his credit, and took his departure for Lake George. On his re- turn to Brooklyn, on Monday last, was asked by one of the bank officers to return the amount to the keepin: of. the bank, as its withdrawal, if publicly knewn, might effect public confidence in the Trust Company. Mr. McLaughlin complied with the request of his adviser, and the money was returned to the vault of the company. Last Friday aiternoon, alter banking hours, the Deputy Register received from him a check for the amount, with insiructions to present it immediately. Unfortunately it was alter business hours, and the amount remains in the company’s keeping, much to the chagrin of the Register, who, with a host of other losers, mourns his dubious prospects of an early reimbursement. THE PRESIDENT’S LAST ACTS. It is asserted that on Monday afternoon tast Mr. Milis obtained a full settlement of his land ageut, and aeposited a check which he received from the latter in the Nassau Bank to his wile’s credit. After this transaction he settled the accounts of his butcher and baker, which were usually paid at the end of each month. If the well authenticated rumors circulated last evening are to be accredited Mr. Mills’ conduct at Coney island during the last night of his life gives material support to the suicide theory. It is stated that he did not retire to nis bedroom until a very late hour, and the next morning it was found that his bed had not been slept in. At the time of his death these facts were studiously concealed, but yesterday those in possession of them concluded that further secrecy was useless, ‘The expression of opinion was, last evening, very general and condemnatory of the action of the secretary, M. T. Rodman, who, though he now ad- mits having been aware of the fact that the Presi. dent had overdrawn his account, still continued to sign his (Mills’) checks. THE NATIONAL GAME. ‘The M. J. Kelly Benefit Match. Between twelve and thirteen handred people assembled on the Union Grounds yesterday after- noon to witness the game between the Mutual and Atlantic Clubs, for the benefit of the Jamily of the late M. J. Kelly, Mad the weather been at all favorable there would doubtless have been at least three times as many spectators, but the threaten- ing condition of the clouds was wholly uniathor- “able, and no one could tell at what moment the rain Would come down. Hicks, of the Mutuals, was absent, no one knew why, and this circumstance detracted not a littie from the interest of the aifair. Alter the third inning the Atlantics took the lead and held tt to the ciose, coming out victors by score 019 to6, Including the receipts at the gate, the sum realized by the game will probably amount to between $900 and $1,000, tase Ball Notes. ‘The Victors, of the dry goods house of Mygatt, Haviland & Co., made their first appearance on Saturday in a game with the Modocs, of J. B. Spel- man & Sons, at thé Knickerbocker Grounds, Hobo- ken. The score stood:—Victors, 24; Modocs, 15. ‘This is the only deteat the Modocs nave met with this season. Next Tuesday the Atlantics play the Baltimore Club. ‘Tuesday the Mutuals play the Irvingtons, and Wednesday the Baltimores and Mutuals play. Al! these games will be on the Union Grounds. ‘To-morrow the Baltimore and Athletic Clubs play in Philadelphia, and pools on the game will be Sold and telegraphic accounts of each inning received at Gleason’s billiard saloop, 161 Bowery. la ry 12,365 73 ges or franchises | Clerk of the county of Kings a bond to the people of the State of with the people of and do and perform his capital’ MONM UTH PARK rn Vesterday’s Long B ich Races Post- poned Until To-Morrow. The races at Long Branch set down to be de- cided yesterday were postponed until to-morrow (Monday), because of the inclement weather. The storm of Friday night and yesterday morning was very severe at the Branch, blowing down telegraph wires and poles, besides doing much other damage, though not of a very serious character. After wailing until balf-past eight o'clock the Stewards of Monmouth Park decided upon the postponement of the contests, inasmuch as the track was deluged, and the rain, which still continued, would preclude the possibiiity of thousands witnessing the amusement who greatly desire to do 80, but could not in @ heavy storm. This decision pleased the hundreds of ladies at the Branch, the majority of waem did not want to lose the chance of seeing the concluding races; and it also delighted the owners of the horses which are to compete, a3 she were very reiuctant to risk, such valuable animals in the deep mud though the two days which) they are necessitited to remain at the Branch is a serious drawback, as they desire to be at Saratoga with their horses for the coming races at the earliest practicable moment. So soon as the decision was made putting off the races Mr. Wm. E. Raynor, Secretary of the course, telegraphed the fact vo this cy, that the passen- gers by the early boats might be apprised of it in time to turn back; but the wires were now repaired until nearly noon, and, of course, there was much annoyance felt and some little indigna- tion expressed when the track was reached and it was found the sport would not goon, No blame, however, can Yoo ny be attached to the manage- ment of Monmouth Park because of the postpone- ment, and ail those that visited the Branch yester- day and were disappointed will more than be repaid to-morrow by attending, as the last races of the meeting will be of the most interesting natur The boats to-morrow morning will leave at the usual hour, but that at forty minutes past nine o'clock will be found the most convenient, as the ssengers will reach the course in season to rush off the dust, “wet their whistles,’ inspect the racing cards and choose their favorites. THE SARATOGA RACES. ———_— SARATOGA SPRINGS, July 18, 1873. Bright Saratoga, with her cooling shades and sparkling Waters, was never more attractive than this season, and yet the numerous great hotels are far from full, Splendid accommodations and genial landiords are rendering the very elegant though limited company as happy,as possible; but Sara- toga’s throng of visitors cannot be expected until the cool weather gives place to such hot and sultry days as warn the people of the great cities of the necessity of fleeing from hot walls and crowded streets to localities where exhausted nature can be recuperated by the pure upper air and life-giv- ing draughts of healing waters, such as abound at Saratoga. Seasonable showers have made the parks and lawns put on their loveliest green, and, in tact, everything seems to say, “Whosoever will, let him come.” The races over the beautiful Saratoga course have for several years commenced about the 10th of July, and the multitudes drawn here to witness the sports have secured to the hotels early opening seasons, crowded houses and heavy profits, This ear the races are to begin on the 24th inst., half a month later, Tv that date the crowning glories of hotel life must in a measure be post- poned; but a rich harvest of @ month will then make glad the heart of mine host, The races are to open, as usual, with the great event of the Travers Stakes, for three-year-olds, one mile and three-quarters, for which there are this year no less than seventy-nine nominations, Of these the most prominent are Tom bowling, Springbok, Count d’Orsay, Merodac, Strachino, Long Branch, Catesby, bh Pease, Annie Hall, Milton, Wizard, Fellowcraft, Waverly, Stonehenge, Sally Watson, &c. If any happy owner thinks we havo not mentioned the best of the louwe humbly beg hia pardon, with the explanation that there are very many among the high-bred youngsters entered vith whose qualities we are otirely unac- quaihtéd, On the same day there is a sweepstakes for all ages, a mile and a quarter, in which the flyers larry Bassett, Monarchist, Joe Daniels, Ortolan, Ww rt, Jean Val Jean and a dozen others are énteréds -eseer> == ae The first day's sport will close with the Flash Stakes, for two-year-olds, half a mile. Twenty- nine youn; rg With high-sounaing pedigrees are entered, a! ut few of them have appeared in public. We therefore candidly confess our in- ability to foreshadow the result. The French mu- tual pools ought to be popular for such a race. ‘The association advertises two meetings—the first of five and the second of six days—but the Sport will be continued every other day until the 16th Of AUGUST, “er eyhS Gem aboot a e hundred horses aré already at the course, and the number will be increa+ed to abou! one hundred and fifty when the Jerome Park an¢ Long Branch delegations arrive. Those already eré are the stables of Messrs. McDaniel, Hunter & ravers, Belmont, Stringfiela, Carroll & Coar, Bell, Crouse, Grinstead, Pennock, Bowie, Rice & McCor: mack, Buckley & Tully, Deuison & Crawtora, Lit- tell aud others not recollected. Many are hourly expected, and the stables will all be full within the next two bodys All ansettied questions of superiority with re- gard to the horses tnat ran for the Jersey Derby Will, it is hoped, be settled in the Travers Stakes; and if some modest eoit should step in and dele: all the favorites it would only repeat ‘‘the old, old story’’ of the uncertamty of racing. One enthusi- astic trainer, who rejoices in the possession of a slashing sixteen-hand son of Australian, has already announced that ne will win the Travers sure; and it ts not always safe to disregard such warnings. 4 The great promise and recent successes of the sons and daughters of the famous race horse Ken- tucky are the subject of much talk among turfmen and his admirers generally. They have great beauty, power and speed, and give promise of use- fulness 1n races at all distance: nite a number of them are here. two-year-olds and three-year-olds being alike conspicuous, . We shall be much surprised if the approaching meetings are not unusually brilliant, and that they will be numereusly attended is foreshadowed by the great numper of rooms engaged for next week at all the hotels, . CATSKILL PABK RACES, The trotting meeting at Catskill Park, to take place during the coming week, promises to be one ofthe best affairs of the season. The very large number of entries made, especially for the first race of each day, show how wide- spread and keen has been the apprecia- tion of this fact among the owners of horses, and re field always adds measurably to the interest of the spectators on the course. The fact that these races can be reached by boat after a charming sail on the river, aud those who dread the dust and confusion of railroad travel may thus avoid it, will no doubt add greatly to their success, BRACING ON THE PAOIFIO. San FRANCISCO, July 18, 1873. The running race to-day at Agricultural Park, a single dash, one mile and a half, between Nell Flaherty, Queen and Thornhill, was won by Nell Fiaherty in 2:44. Thad Stevens is disabled and did not run. “YACHTING NOTES. The following passed Whitestone yesterday :— Steam hee ‘America, Mr. Smith, from New York, cruising eastward, Yacht Alarm, N.Y.Y.C., Rear Commodore Kings- | land, from New York jor Sag Harbor. Yacht Helena, through the Sound, B.Y.Y.C., Mr. Fiiat, cruising Athrée mile boat race came off yesterday alter- noon on the Passaic, near Newark, between Charles D. Hoxie, of Mystic, Conn., and Henry Butler, of New York, for a purse of $100, The route was from Morris and Essex Bridge to the Midland Bridge and return, a distance of three miles. Mr. Hoxie was the winner, reaching the stakeboat in 19m. Butler was several lengths behind. But little money changed hand: ‘PROGRESSIVE ERIE, Port Jenvis, N. Y., July 19, 1873. The Erie Railway Company have engaged guar- ters here for a corps of engineers, about twenty in all, Who are at once to begin a survey from this point to New York fora trunk line for the Erie Railway. By tunnelling the Shawangunk Mountain they can shorten the route to New York twenty- eight miles, making it sixty instead of eighty-eight miles by the present route. It will shorten the time between this place and New York at least seventy-five minutes, It is proposed to use the new route jor freight and passengers, retaining the old line for Way passengers and treight, coal, &c, THE MISSOURI PACIFIC RAILROAD, St. Lovis, July 19, 1873, A letter from Judge Dillon, of the United States Circuit Court, sitting in Chambers at Davenport, lowa, Was received here to-day stating tha’ had ranted a tem: injunction in the case of ti. fissour Pacific Rail oes Company agai at Gover: nor Woodson of this State, restra' ag oMcial from selling or offering for sale the Missouri Paciftc Railroad to satit an 1d balance or to about eight millions of State len, amounting dollars, SHEET. CHESARISM IN AMERICA. General Grant and His Third Term. pera Further Extracts from American Press. the (From the Philadelphia Preas (republican), July 15.) * © * There is but one feature about this third- term business which deserves @ more serious com- ment. comparative ease with which the HERALD’s proph- ecy might be fulfiled, if General Grant were not made of sterner stuff than to embark in such an experiment. There is no longer a democratic party in this country, It passed out of history with the passing out of the rebellion. * * * The democrats see their once proud army torn into fac- tions by contending ideas and discordant leaders. ‘They cannot deny that the policy of Grant and the republicans has been to give is peace with the | world at large, a currency without parallel in its blessings, a reducing debt, a protective system that secures high rewards to labor and capital; and yet they also see their leaders assailing this policy without pretending to present a better. Is it surprising, tien, if, before such a record, followed dy the fatal mistake of Mr. Greeley’s nomination, democrats like Henry A. Wise, of Virginia; George W. Jones, of lowa, and George Williamson, of Louisi- ana, everywhere ground their arms and give up the fight? Is it to be wondered at, then, that the democrats of Philadelphia refuse to or- ganize, and let the republicans, with ali their mistakes, hold the field? It 1s vain to oppose mere epithets to facts like these. They exist, and they control even those who attempt to resist them. It is precisely this condition of things that has given color to the prophecy that General Grant Will be a candidate jor the third time; but nothing that has proceeded from him sanctions tt. Indeed, there seems to be an authorization against any Such hope or intention, and we do not doubt that at the proper moment he will stamp it out asa dangerous precedent, wholly averse io his nature and his ambition. The agitation of the question may, | indeed, give it consequence, and the foolish abuse heaped upon Grant may awaken a spirit of retalia- tion; but as things stand the people are singularly at peace with themselves, and especially indiffer- ent to another Presidential ¢meuée in the shape of @ struggle for a third term, The open demoraliza- tion of the democrats is not more marked than the quiet submission of the republicans, Politics, as such, seem to be nobody's concern but the place- men and place hunters’, and it is a depiorable fact that the latter have their own way, because there is no deflant democracy to aid independent repubhcans im an earnest move- ment for reform. If we were on the side of the modern democracy, eager for its re- organization, we should be most careful not to find fault with the mistakes of the republican par- tisans before we had cured the blunders of the democratic chiefs, So many of these latter are just now helping the republicans tin all the States that if we were disposed to be as uncharitable as some of the democratic papers now assailing Grant we should charge that they had been swayed by other motives than conscience and a love of principle. But we prefer the better course, and give them credit’ for a conversion which ia not the less sineere because unavoidable, (From the Utica Herald (rep., Senator Conkling'’s organ), July 15.) * * * Noman in this country has the power to make himself a Cwsar, ifhe wished, The people are somewhat given to man worsliip, but only 60 far as they think the man approaches perfection; and no man hinting at imperial sway would be for @ moment clothed in the attributes of perfection by the popular mind. General Grant has no more power than any other man. He only represents the power of the people, and has the popular confl- dence only becayse he seeks only tg carry gut phe. 1 popular will, His own ideas of government, as well as his political aspirations, were embodied tn the utterance :—*‘I sball always entertain opiniens of my own on all Guéstions, but Ihave no policy to | enforce against the will of the people.” This 1s the sentiment of a true American patriot, and we have no idea that the President has ever entertained views inconsistent with it. In this country all power resides in the peopic. President Grant is powerful in executing the will of the people because he has the whole people to back him. But let him attempt to carry out his own will in violation of theirs, or let him oppose principles which they recognize 48 necessary to the support ahd perpetuity of American institu- tions, and he would soon fall from his high estate. None would be 80 poor as to long 4o him honor— unless it be the croakers who betray their own aspirations by imputing them to him, President Grant is master of nobody, He is only the head servant of the people. He can command no longer than the people will; they will so willy no longer than he does their work faithfully, There is a wide difference between a con- trolling party, made up of @ majority of the voters, and a controlling man. In this country there can be no such thing as the latter, except ina very limited sense. Neither General Grant nor any one else can control our politics, much less our legisia- tion, He who asserts to the contrary counts with- out his host, the people. He proceeds on the as- sumption that the individual is supreme and om- nipotent and the people of little or no consequence, save as they constitute material for the individual 1o manipulate. If this assumption were true our free institutions would not now exist. The people think for themselves to a much greater extent than demagogues and shallow sophists think. They cannot be led far in the wrong by any man or set of men. Witness the promptness with which they dropped Horace Greeley and Charles Sum- ner--two men as nearly worshipped as men can be in this country, Let President Grant prove re- creant to the principles of the great republican party, which are the fundamental principles of our republican form of government, and he would as speedily share their fate, {From the Pottsville (Pa.) Standard, July 15.) Already, before half the Presidential year of Grant's second term is completed, the attention of the people of the United States is being directed to the possibilities which exist for his receiving a nomination for a third term, and discussion 1s widespread as tothe result of such @ measure, Thinking men, who watch with curious, if not interested care, the temper of the nation and the shaping of ideas which become the nation’s thought and utterance, tell us that there is an unmistakable tendency towards a monarchy abroad in the land and that the indifference of those who possess the dearest regard for republican institutions, no less than the assertions of wealth and avuwed devotion of placemen, make the subversion of the Republic in fact, if not in name, a sure and near accomplish- ment. To the result the term Cesarism is applied, with some little disregard for history, but a great deal of appropriateness in view of the effect. If, they say, Grant is renominated for a third term the virtual end of the republican form of govern- ment, wisely framed and bequeathed us by the fathers of the country, is come; the very fact of renomination itseé setties the question finally. And herein, we think, they speak even wiser than they know, for at best, with all the experience of history under somewhat similar conditions, only -faint shadows of the events succeeding such a step can be discoverad, It is only since the 4th of March last that the possibility of a third term of the Presidency being enjoyed by the same man has been admitted by giving it a place among the debatable issues of the fature; heretofore it would have had no more weight or words attached to it than to & proposition to annex the planet Jupite Four words only in the negative would have been required to end discussion—"Pooh! poon! it’s im- possible!’ But now, in the parlor and through the public press, the case is gravely and lengthily argued, a state suffictontly fmportant to “give us pause” to examine for ourselves. For the first + @iae. we osileve. im tae muvory Of the country, | did on the first or second occasion, | the customs and precedents ef the Republic set What attracts the, superficial mind is the | there are men ana journais, of by no means see ondary importance, who desire, and already aavo- cate, the continuance of a President for the third term, and who, in case of “regular nomination,” would support the candidate as heartily as they The declara- tione of George Washington—heretotore held sacred on that point—are by act and desire denied; naught, This, taken in connection with the fact | that the contrary interest is not deep and univer sal, is a fit subject for concern. [From the Milwaukee Sentinel (administration), duly 15.) It ts too early by half to debate the propriety of such @ proposition (a third term) at present, Gene- ral Grant made an admirable President for four years, and was re-elected by an unprecedented majority in spite of a would-be formidable opposi- tion in hia own party. He has started off excel- lently on his second term, and we jook for a con- ; Unuance of the mild, firm, unobtrusive adminis- tration of affairs that so signally characterized his first term; but we are not sure he will stand the Severe test of time and circumstances. He may fail on the homestretch so ingloriously that the | people will not wish to have him serve a third time, But suppose his second term should exceed in wisdom and prosperity the first, and the people of the United States should rise up in their majesty and demand his re-election for the third term, who has the right to say nay? There is nothing in the constitution to prohibit tt, and, although there is no precedent for it tn our history, it seems to fall to the lot of some generations to furnish precedents for those who follow them, and it may be the des- tiny of Genera! Grant’s friends to set an example of this kind, It is highly probable that the sober Judgment of the republican party will be adverse to any such arrangement, and deem it expedient to place some new man before the people for their suffrages; but if Grant should be nominated for a third term it would be the result of a popularity never before attained by an American statesman Baltimore American July 16.) It is not diMeult to realize what would have been Mr. Lincoln's doom had his life been prolonged till 1868, and he had whispered “renoml- nation.” Clouds, we know, were gathering and casting their dark shadows upon his popularity, When Boovh’s bullet did its bloody work. The “Winter Davis’ crusade—the “Thaddeus Stevens’? speech of 1867, to which, in another connection, we referred the other day—prove to us conclusively that, had Lincoln lived, and—as he no doubt would ~ (From the (democratic), see have done—persevered in his Executive re- construction scheme, he would have had as little chance of a third nomination as Jolin Adams, or his son, or Mr. Van Buren had of a second one. Hence the conjectural case {8 not apposite. But no one dreamed in 1868 or '69 of such a possibility. And yet, in less than five years, the impossibility has become a proba- bility, and the American people contemplate it Without horror, If the averting of this dread evil depends on the volition of the party most person. ally interested, we huve no hope. Were his moral and mental organization other than it is, were his associations and the operative influences differ- ent, we should ngt despair, But the very negation of his nature; his silent, and, we regret to say, selfish obstinacy, which even so well disposed a journal as the HsRALD recognizes; his want of po litical training, or training of any kind except that of the frontier camp, make him insensible to anything like the emotion of rever- ence—for example, a regard for tne leasons of the past. Ina different sense from the French King, he firmly believes—for his parasites, and brokers, and bankers, and felatives tell him so—that ‘’£tat cleat moi.” We doubt, even, whether stern words of warning would deter him if once his mind were made up. POLITICAL NOTES AND OBSERVATION! Waa eb RB Se The Milwaukee News calls Ben Butler “the Pp rate of our poutics.”” He does seem to buckin’- Peer gome of the old logy politicians in Massacha- setts, ‘The Johnstown (Pa.) Voice, having been called @ fool by the Holidaysourg Standard for showing up the dangers of Cwsarism, the Voice editor retorts by saying that, although not precisely a fool, yet, so long as Holidaysburg remains where it is, he 1s “pretty near one,.”’ The Harttord Post says the masses of the repub- lican party are animated by a self-sacriticing spirit. That is more than their representatives in Congress are or they would have “sacrificed” their back pay. It is stated as a fact that there are more youths in the South receiving a military education at thia time than there are in the North, Is the South preparing for “Cwsarism” or what? ‘The St. Louts Globe affirms that General Grant has denied having any wish for a third term, “But,” it adds, “the Grant-phobists won't be de- prived of their hobby in this way. They’lt not take ‘no’ for an answer, Will he, nlll he, they will run him fora third term.’’ Perhaps a liberal reward will be paid for authentic information that General. Grant has positively declined a third term. The Chicago Post says:—“The nomination of Cushman K. Davis for Governor of Minnesota by the Republican Convention at St. Paul will excite some surprise beyond the limits of that State, however it may be received within it. There had been a belief that the proverbial good fortune of the Washburnes would have secured @ renomina- tion for the present Governor.” Perhaps the nomination of Washburne would not ‘wash’ on the fafmers’ question: ° ‘ General Joseph K, Johnston, of the late Confed- erate service, attended a reception mygp_ by Go ernor Noyes, at Columbus, Ohio, lately, and \ radicals made no noise about it. WATERING PLACE NOTES. - It was so chilly Thursday evening at Saratoga that they turned on the hot air at the Grand Union Hotel. A children’s ball whl be given at the Grand Union, Saratoga, Wednesday. A Western paper styles that sandy shore called Grand’ Haven the Baden-Baden of America, but where the similarity ts it is diMcult to discover. The lovers of hunting and fishing are hurrying away from Saratoga’a gayeties for the hills and vales of the Adirondacks, J. G, Lamberson and wife, of New York, the Sentinel says, have visited the Saratoga Springs regularly for forty years. They still live. General Ben Le Fevre, of the British Army, is sampling the waters at Saratoga. ‘The tourists have already in large numbers in- yaded the Canadian Dominion, Many are disap- pearing down the St. Lawrence, Baltimorean society centres at the Grand Union, Saratoga. Among more recently arrived New Yorkers at Saratoga are EB. Heith and family, Mr, and Mrs. ©. G. Shaw, Warren Brady and family, Ezra White and daughter, Alfred Young and Frank Worth and family. Commodore J. Adams Smith, of the navy, is at Congress Hall, Saratoga, on leave of absence. Blindfolding the negroes and getting them ta roll barrels upon the lawn is fun for Cape May guests. Sumnerstown, Lookout Mountain, 2,400 feet above the Tennessee, commands a view of six States, It is popular with Southerners. Judge J. D. Shipman, of New Orleans, and Col onel J. 3. Thrasher, of Texas, are at Saratoga. New England is well represented at Mount Desert, Me. Few visitors to the Thousand Islands this year. Massena Springs, St. Lawrence county, is a quiet spot, and the waters popular. ‘The Ottawa River is dropping in for the attention of excursion parties travelling through Canada, Fort Garey, Manitoba, July 19, 1873, ‘The Court to-day met to hear the legal argument in the kidnapping case. The defence cited all pos- sible authority, English and American, upon the prosecution, The Court adjourned until Tuesday, when Judge Betawnay will give his decision,