The New York Herald Newspaper, November 27, 1873, Page 11

“enti TUB MONRTARY SITUATION, What the People Know About an! Elastic Currency. The Introconvertible Plan from a Pop- ular Standpoint. VIEWS OF CORRESPONDENTS. New York, Nov, 24, 1873. To THE Epiror or THe HERALD:— I have read carefully the communication pub- lished by you on Monday, signed “Necker,” and would like to ask your correspondent where does he propose to get five per cents from to carry on this convertible and reconvertible currency plant He says there are $480,000,000 of these outstanding. Now, we all know how this loan was floated, viz., through a syndicate, who disposed of the bonds in Europe and to the national bank here in exchange or the six per cents deposited by them as a secur, ity for their circulation. What the national banks hold are already hypothecated, and what are held in Europe are BEYOND OUR REACH, as we have not the money to buy them back, for if we had we would not want “Necker’s’’ plan of relief. This plan is not new, having been bronght before the people in a letter of Horace F. Day, first Vice President of the National Labor Union, addressea December 7, 1872, to the chair, man of the Congressional Democratic Committee. Mr. Day, in the course of his argument urging cer- tain reforms, said:—“Do you ask what can, what Ought we todo? Ianswer again, begin with the finances, Here is our first and greatest evil, Let Congress pags a law creating 2,000,000,000 of three per cent or 365-100 per cent console or, as we call them, bonds, convertible and re- convertible into legal tender certificates of value, stamped, coined money, made of paper, corre- sponding in denomination with our greenbacks, Sell these bonds and pay off in this money (or as best we can, no matter how, so we keep faith with our original contract) all other United States bonds.” This pian of a new issue of @ 3 65-100 per cent consol, convertible and reconvertible into und from legal tenders is substantially tae same as that of Treasurer Spinner, involving a temporary, at least, increase of the interes: burden ofthe country, while Mr. Day’s Vel of perenne up the present outstanding debt with the proceeds of the gale o! these bonds Is impracticable, first, irom the great loss which would accrue to the United States in the premium such outstanding bonds would Spynd acquire snould the United States go into the market under such circumstances as a purehaser; and secondly, irom the simple fact that so many of our bonds are heid abroad. A close examination of the subject has shown, Vuiat this plan would not work. Business re- quires more than the mere Introconvertbility of governments with currency lorits relief now, while as to any progress to be made towards furnishing an élastic currency by sucu introconvertibility 16 would be very slight, RARELY, IF AT ANY TIME, DURING THE PANIC WAS MONEY UNPROCURABLE OD RNMENT BONDS, at the leg i but the men who most needed money did not have the government bonds. Business inen cannot afford to haye so Mich capital virtually retired trom their business to meet un emergency Which might never occur, but which the too general lock-up of money in such & Way might occasion, this plan leaving it in the power of speculators, by bringing about such a lock-up, to produce a serious Gisturbauce in the money market at any time. In the test thus ap- plied to the introconvertible bond seheme, Whether this quality be extended only to the | five per cents or extended to all present out- | standing bonds of the government or conferred only as a premium upon the new 3 65-100 per cent certificates, to induce their rapid absorption at home, is to be found but little relief in the way of an elastic currency. The evils which exist In our present financial system lle deeper pan eue @ remedy as is there contained Can ‘eaen. WE HAVE TO DEAL WITH CUMULATIVE IL1L9 that have grown up since the first outbreak of the rebellion. We have to retire our $40,000,000 greenbacks, irredcemable paper obligations repre- nothing but the credit of the government, and substitute therefor gold as the basis of bank- ing. We have to learn that: paper is not value only, but th» representative of value; that it repre- Rents a debi in the great national ledger wherein our domestic exchanges are set down, and that tis vayent § of debt, not credit, belongs to the legal tender and national bank note alike. We must learn further that a promissory note, a check ora bill of exchange is a8 much currency as green- backs or bank notes, debts deriving their currenc; value from the credit that is behind them, whic! credit to be sound requires the existence of something material, at least equal in value to the dept it has created. These are distinctions that sete to be borne in mind, as in their knowledge, understanding and practice 1s to be found the cau- tion and conservatism s0 necessary to true bank- ing. The public, on the contrary, are too apt to guffer the saine confusion that an ignorant person would on being told when the thermometer stood at ero that there was no such thing as cold, it was only an absence of heat. CREDIT 13 ONLY A EUPHEMISM invented by people who owe money to save their amour propre. Lf this were more fully recognized there would be fewer bankrupts. Had the green- back regularly borve in our daily exchanges its proper relation to gold, and been quoted at a discount trom gold, does any one suppose that gold would have reached the extreme premium it id?. Certainly not, Witn the visible deprecia- tion of the greenbacks would have come gradual retrenchment, economy in public and private affairs, and their redemption before now, But in. making the greenback dollar a legal tender to the extent of one dollar Congress put a premium on extravagance and on reckless expenditure, just in the proportion its acceptance as one dollar was in excess of its real value as compared with gold. These are faulis in our present monetary system that must be eradicated. Congress will Jail short of @ proper appreciation of the problem before it ifit does not pravide tor the gradual retirement of the greenback currency. Coin alone is money, be- cause, Outside of its value as a token, it has a mer- chandise value equal thereto. This, paper can never possess, Hence coin alone should be the currency of the government. But as the business of the country Calls for more currency than the gupply of bullion will permit of, there must be another currency to supplement its employment. Here paper comes in, and the inquiry arises, how shall such paper currency acquire the confidence ol the peopley This is very Hane, by Fequiting such security behind it as is equivalent to its iace value in gold, ‘Thus would we have THE PROPER INTROCONVBHTIBLB CURRENCY, EX- CHANGEABLE ALIKE FOR GOLD OR MERCHANDISE at par. It is perhaps neediess to repeat that only under a freo banking system can such a cur- rehicy be obtained. To limit the security of bank issues of currency to government bonds alone is an unfair discrimination against other securities equally as good and more readily obtainable, and would ouly operate ag a check upon proper expan- sion when business needs called for it. At the fame time tt equally necessary that some supervision should be exercised in this ter of security—a supervision which properly belongs to the Comptroller of the Currency, under whose direction be oY be organized a great national clearing house, with jower to apply general laws operative in this re- Bpect designed to secure safety with the widest freedom, Only such restrictions should be imposed upon banking as would guarantee security to the public; all else would be undue interference. We do not Wish to lose the uniformity of our currency as it now stands, nor its safety, but we want to give it elasticity responsive to the needs oi the (people operating through their own channels, the government only stand ng by to see to an honest administration. “Unless the clearly in view by Congress will prove but temporary expedients. ”, New York, Nov, 24, 1873, To THR EpiToR OF THE HERALD :— Your earnest article upon currency this morn- ing, encouraging the expression of all views, prompts me to oiler a ‘ew remarks, founded upon many years’ consideration of the subject in this and other countries, First—Vhe money of a country, whether in coin or paper, should emanate from the government— the security being national and the profit a Iran- chise of the people. gl currency 1s incompatible with en- terprise and active EDs a Too limited circu- laung medium drives a people to inertness, Thi ‘The volume of paper or auxiliary circu. Jating inedium should be regulated in proportion to the population and the convertible test of value pour urih— Elasticity may be established in various ways, ti the circulating medium bears a regular proportion to the population, the f mount 1 well understood, and the fluctuating demands ot pbuginess are provided for accordingly. If the plan Of conversion of bonds for currency, and recon version Into bonds is adopted, a good basis and elasticity may thus be provided for, On this plan I would sugge: ‘at, instead of converting and re- issuing the present class of securities, arter the first conversion of bonds the rule should be to allow parties to receive perpetual annuities of five per cont (or less?) on deposit of currency, and, at Pleasure, to relinquish the same. This ' process would lead to the general consolidation ofall the government indebtedness, z% ED. To THe Epiror OF THE HERALD:— ‘The suggestions of “Necker” on an “Elastic Cur- reaper’ Gong be improved in one postiogier, and that is that the government be authorized to issue @ five per cent perpetual annuity Instead of a bona becoming due and payable at a specified time, into Which the balance of the six per cent dept could be funded, Such a security would be invaluable far the in, is principles are held 11 measures of reform NEW YORK HERALD, THUKSDAY, NOVEMBER 27, 1873—TRIPLE SHEET. Vestment oF trast funds, because It would obviate the necessity of remvestments, It would in all probability always command a price equal to par in gold, and if convertible and reconvertible it would prove the perfection of @ basis for an “clas- tic currency.” W. INDIANAPOLIS, Ind., Noy. 21, 1873, To THE EDITOR OF THE HERALD:— * By order of committee appointed by manufac- ‘turers and business men of Indianapolis I send largely against us, you copy of speech and petition, and request their publication, Respectfully, E. A. ALLEMAN, AN INTRO-CONVERTIBLE CURRENCY. To THe HONORARLE THe SENATORS AND REPRESENTATIVES ‘ov THe Ustrxp States IN CONGRESS AsSeMNLED t— nod, residents and citizens of the county of ani State of In y but earnestly by this our petl- able body :— perity of our nation depends ui diana, most respe tion show to your most ‘that the Wealth and pro upon the sustaining an. encouraging of all her com inereial, manviaciuring and agricultural interests. Thai all of said interests are being greatly depressed, and privation and want thereby brought upon thousands of the citizens of the United States, in consequence of the fact that there 1s not @ suiliclent amount of money to the necessary and legitimate business of the We, therefore, In the exercise of the sacred right of petition secured to us as citizens by the constitution of the United states, do by this cur memorial request that your honorable body take early action upon the. subject, and by proper rules and regulations go arrange that the citizen may depori in the Trea-ury of the United States his government bond and draw therefrom the tace value in leval tender notes, aud that such certificate, or receipt ot the Treasury. be given to such depositor of the bond as willenable him to conirol his property therein, and that the interest on such bond inure to the benefit of the United States while gush bond remains in the Treasury, and that such pond be redelivered upon the presentation of such certificate accompanied with the amount, In legal tender notes of like character ag were issued upon the deposit of said bond. ‘hat in this way we believe that the business of the country will be enabled to. in- crease and diminish the volume of the circulating medinm in proportion as the demands of the legitimate business may require. We hereby express our firm belief that ifyour honorable Body should adopt the mode herem, suggested thai bonds of the government will distribute themselves ‘opie of our own nation and will be of the business of onr people in such manner i uch busiliess to command at pleasure the needed money for the full development of the wealth of our nation, and that as a result from such prosperity within our borders the volume of exports will largely ex- ceed the imports, thus throwing the balance of trade in our favor with all other nations, and when such balances are paid in gold it will surnish this country sufficient to ssabenibnce it for our paper circulation if we should then jexire For the accomplishment of the objects sought herein we shall ever pray. The speech referred to In the above letter was delivered by James Buchanan November 1, 1873, at a cea meeting of the business men of Indiana- polis:— ‘The practical question remains, How is the volume of the ‘circulation ty be increased, and what will be its effect ‘This belng a government of the people and for the peo- ple it is eminently proper to let the people deal directly with their servants, without the intervention of middle men and overseers. In my judgment the government of the United States should turiish (o its citizens directly @ circulating medium, in such form and with such rules and reguiations as Will permit the volume of circulation to expand and contract as the necessities of the business ol the country may demand. Put it in such situation that business will control money, instead of money controlling business. Then money be compelled to perforin its proper office, that of being subservient to the wants of busi- ness, and facilitating business transactions, instead of the r it now exerts of compelling business to stop or t ifs bidding. An elastic medium is especiall Fa pow eded in a growing nation as ours is, Where the volum of busiuess is incressing rapidly each succeeding month, You may fix the medium at such an amount as would precisely answer the needs of business to-day, and when the business has grown 20 per cent six months hence it fails to he suticient, and there is a disturbed condition, and it either prevents that increase, or the increase is of a necessity done wpon a credit, Which Will, as soon as the conidence tails, that 15 dlone the basis of such credit, bring disaster of lke Kind with that we are how experiencing, And where the volume is thus fixed at a given time, and business should, because of wars, ce or famine, decline in part, duis unemployed money sceks illegitimave employ- ment, and creates & demand for iton a fictitious and spec- ulative basis, which must of necessity end in ruin to those engaged in such speculations so soon as the demand for the money requires its return to a legitimate use, If the volume Was contracted when the business did’ not demand It, no epectlative demands would or could be made, ‘The power to inerease or diminish the volume of circu lation can be saiely placed in the hands of the people, for t large are the persons who Will be benefited ol the power, or injured by its improper nterest is a sufficient guarantee that no im- ntentionally made of such power. ‘lous Ways in which the elasticity ean beg circulation, but that mode which requires the least red tape and complicated machinery should be adopted. This result can be accomplished by permittin, the citizen to go to the Treasury of the United States an deposit his government bouds, and draw greenbacks to the face of the bond, the Tr y giving him a certificate deseribing the bohd and specitying the ainount of currency issued, and providing that when that amount of currency of like character is returned with that certi- ficate, said’ bonds will be re delivered; such Dond to cease from the time it entered the Treasury Uutilit igthus taken out, and the certificate issued for the bond is transferable by delivery. This would give the government the benefit ot such interest as would accrue wiile the bond is inthe Treasury, while at the same time AL preserves the property of te individual in the Loud and ‘urnishes him with currency for the needs of busi- ness, The certificate Igeued enables him to negotiate his ond in the market in like manner ag he could the bond itself, This currency would remain in circulation so Jong as it could be used at a larger profit than the inter- est that would accrue upon the bond: but so oon as the ratcs of Interest, in consequence of the volume of circu- lation, should be reduced below the interest obtained upon the bond the currency would return and the bond be taken out. In short, whenever business demands cur- rency it would come forth, and when it was not needed it would retire. In this way the Jaw of demand and sorply will act upon the money and regulate its volume as it should be regulated. It is objected that this would inflate values and only postpone the evil day. ‘This is a mistake. In- stead of inflating anything it will reduce the rates of interest upon money, so soon asa sufficient volume has Issued to supply the needs of business, If it be true, as agserted by some, that the currency is now reaundant, No more Will issue ; for no man will pay the government six per cent gold for the use of currency unless he can make more than that sum out of it. It is not the tact of redundancy alone that causes infla- tion, it is because the volume is fixed by statute and put beyond the power of business to control that volume, and it is compelled to remain in cireulation whether it is needed or not. If left tree there is not the slightest dan- ger of value being disturbed. But if prices should be ey, increased thereby it would not be objectionable, for the reason that the Vast national debt that we now have was made upon inflated and the people should haye the benefit of like prices to pay it off. This would be justice only. It ig also said that our trade with other nations will be have before shown that such as sumption is most erroneous. The balance of trade will be more certainly In our tavor tor the same reason it is now—the products and mechanisms of this country can be created in such abundance and shipped abroad a9 ‘to lay all civilized nations of the earth under tribute to Us, ahd we can require them to pay us their balances In old until we obtain a volume of it suffictent to do the usiness ofthe entire country, and then In that way you can and will reach specie payments and injure no one; pats on casino bring plenty and prosperity to the omnes of all. At an adjourned meeting of the manufacturers and business men of Indianapolis, held on Wednes- day evening, the 5th mst., the following resolu- tions were adopted :— Whereas the entire commercial, manufacturing and agricultural interests of the United States are being greatly depressed and damaged, and thousands of labor- ers and skilled mechanics thrown out of employment and thereby reduced to privation and distress: and whereas the wealth and prosperity of the country de- end poe the sustaining an acotranene oF all industrial interests; and whereas we believe that the present deplorable condition of financial affairs has been caused mainly by the lack of currency with which t carry on the legitimate business of the country; an ‘whereas we believe it to be the duty of the Congress of the Unitéd States to furnish a sufficient volume of cur- rency for that purpose; therefore be it Resolved, That the currence yrovided by Congre: should be of suificient volume tytransact tho’ business o: the country; that it should be of uniform value, should be based on government securities, should De of elastic character, and should be so regula to prevent sud- den and dangerous fluctuations m values. Resolved, That Congress be hereby earnestly he present 1° recommended to fake early action: financial distress of the country, and to prevent a recur- rence of like dif he future; and to that end, that we believe Congress should, at the earliest practi: cable moment, make pri heiry aud regulations to en- able the people tod in the Unit tes Treasury sof the ited States, and d¥aw therefrom legal tender notes to the par value of such bonds; that the property in such bonds should remain in the ‘depositor, and be enabled, atte tl sued by the Treasury, 9 control bis property in the said bons that the interest accruing upon said bonds while it remains in the Treas. ury si jure to the United States; that said bonds ma’ be again taken up by the bearer present Gee certifi oate, and returning the par value thereof in legal tender notes, Resolved, That, Inasmuch as the reeatve provided for tn the above resolution would be avaliable only in cases of great and unusual flnancial stringency, therefore we are in favor of a reissue sufficient to put'in circulation -the whole amount of legal tender notes now authorized y law. Resolved, That we believe it would be ruinous bank+ ruptey tf our nation and all of her people to attempt to force what lg termed specie payment by" al okay © Of business and of values to the presvit volume of gol coin; phare polleve, specie paymen| can. be reach ore advantageously throny han through Kruptey that we believe eRe. ustries of our Pagid are permitted to increase and the yolume of our exports th creased, that the balance of trade or will be in our favor, and that from such source we can in a few yeu, ol 4 suflicient amount of gold to substitute In place of our cnrrency circulation, and {0 this way arrive at specie payments, aud at the same ime bring want and priva: to none, but prosperity solved, That & committee of three be appointed ‘at thig meeting to correspond with members ot Congress and business men Shrotghoat the State to solicit the: co-operation in bringing about the legislation proposes in these resolution: M. Bradbury, H. ©, Gumn, 8. J, O. Martin, Chairman; D, % T. Nixon, 8, R. Lippincott, Charles W. Brouse; William. . H, McCurdy, Seoretary. ‘The report was unanimously adopted. Greenbacks = The Money. To THE Epiror OF THE HERALD :— I desire to thank you for the publication of the able article of “Necker” in to-day’s Heratp, and the stirring editorial commending his views on the subject of our currency, For the past five or six years, as opportunity has offered, I have from time to time, in the country press at vartons points, endeavored to show to the People the great iniquity and injustice of the National bank currency monopoly as it at pregont exists, it having the free use of $54,009,900 of the people’s money withont charge, Or, at the present Western value of money of above 10 per cent, a free gift, or rather steal, of $5,400,000 per annum, an amount far heyona Crédit Mobilier, salary grab or railway stenis and Tammany thefts combined, and all this Yithout the return of any equivalent what- ever, “You and your correspondent still hold to a Sorcie basis, while advocating the national green- National People’s back currency, Ihope you will soon get beyond that fallacy, What we need to-day is the right to convert any of our government bonds Into greenbacks, bearing, of course, no interest, and the government (really the people) thus saving that amount. TAE WHOLE NATIONAL DEBT 18 BUT A CURRENCY, the bonds, or larger denominauons, bearing in- terest; the smalier currency, or that of active trade, not. Then our greenbacks should be made convertible into an interest bearing currency bond ata rate not to exceed four per cent per annum for longer or short periods, The fear has been expressed that such a rate would not be high enough to reduce the volume of what I may call active currency to the requirements of trade and | commerce. and that we would suffer from that great bugbear. inflation, Is the experience of the war period so soon forgotten? Can we not trust the people and this matter to settle itsets, as we did then? Between five and six thousand millions of dollars of government paper was issued during the war, and greenbacks had endorsed on their baeks the privilege of conversion jato imter- est bearing bonds, and what was the result? First, a portion were converted into seven-tiirty notes; then larger amounts Of five-twenty bonds were absorbed, and last, ten-forty tive per cent bonds were taken, and this process has gone on until more than half the debt or cost of the war has been paid out of the labor of the country, and THE ACTIVE CURRENCY now in use, including the bank notes which ought to be replaced with greenbacks, does not probably exceed $500,000,000 to-day, and this was accom. lished at a time when one-half the country was n arms against the national authorities, and large numbers at the North were crying down our bonds a8 valueless. ‘Only waste paper,” was often heard, and in Loudon they were worth but 40 cents on the dollar, coin valuation; but, notwithstanding all this, the people, in- stead of turning the: despised greenback into lands, houses or merchandise, exchanged them for the interest bearing bonds until the privi uae was taken from them, and if they have done this in the midst o! a gigantic civil war, cannot they be trusted to act naturally and do it now, ina time of prosperity ana peace? And if, during the war, witha government on the brink of despair and ruin, our rate of interest was reduced trom seven-thirty to five per cent, is not four per cent an ample return for a loan made to the American nation, now strong and united? Let the croakers answer these questions, Heretofore the advocates of a free national greenback currency have been compelied to seek country and Western gear nes to express their opinions, as the preas of the metropolis appeared most wholly under the influence o1 the bank mo- nopoly, the HERALD being the marked exception. The time has come when the people begin to see through this currency swindle, and the demand 18 made that the banks pay full interest on the cur- rency they receive from the .governnicnt or cancel the interest on the bonds deposited for the cur- rency, or, what 18 better, THE IMEMDIATE REPEAL OF THE NATIONAL BANK ACT, 80 far as it gives the pants the privilege of issuing currency, and then let their notes be replaced by the greenbacks, ‘The ablest and best managed of our city banks do not now issue currency, but rely on legitiinate banking for their profits, Tam glad you present this matter for the con- Blderation of the expected Speaker of the House for the Forty-third Congress, Mr. Blaine. He hag an honorable ambition for the highest office of the nation, and it is well for him to remember that parties were never 80 broken in power to hold their members as now. Men think for themselves as never before, and if, in appointing the Banking Committee, it 1s again filled with bank monopolists he may learn at the next election that the power ofthe banks is also broken, And it wili be well for members 01 the House also to heed the warn- ing. Yours, &¢., CHARLES W. WAKDWELL, STAMFORD, Conn., Nov. 24, 1873. P. 8.—TusSDAY, Novy, 26.—You publish this morn- ing an abstract of the report of the Comptroller of the Currency, I will not now take time or space for a review of that mass o/ special pleading jor the great monopoly. ‘The man who will attempt to con- vey the idea tiat the circulating notes given tothe banks afford them little or no profit, yet in the same document has the impudence to praise their sagacity and good Management in saving @ sur- plus Of $120,000,000, aiter paying enormous divi- dends, which even the panic has not interrupted, has only to be given ink enough and he would curse the whole concern, A tnird rate country lawyer onght to do better than what performance for his client. GW. W. A BANK PRESIDENT IN COURT. Criminal Conduct in the Management of a Bank at Petersburg, Va. RICHMOND, Va., Nov. 26, 1873, This evening there was concluded before United States Commissioner Mathew F. Pleasants, ot this cjty, the first examination of a criminal case which has arisen in Virginia under the national banking laws, From the high social position and aristocratic associations of the accused, and because of his, until lately, supposed great wealth, more than ‘usual public attention has been attracted to it, and the business men of the Commonwealth have looked on at its progress with an interest that was heightened greatly by the remarkable develop- ments expected, For eight years, and until the great panic of September came, Mr. T, T, Broocks was President ofthe Merchants’ National Bank of Petersburg. He was the great financier of that city and was a man in whom the merchants trusted and to whom capitalists looked for advice, and bis sway im commerce and business was little less than absolute, He ‘was not only President of the Merchants’ Bank and director in two or three other banking institu- tions, but was a partner in six or seven of the largest mercantile firma of the city and was con- nected with nearly every enterprise that needed a name or money to sustain it. He seems to have been good-natured, easily flattered, proud of hig financial abiliti¢s and Withal reckless as to whose money he used. By much speculating in common railroad stocks and other securities, and by a princely style of living, Broocks brought himself and all the firms with which he was con- nected into debt, and for twelve months or more ran the bank to bide his and their insolvency. When the panic of Sepiember came the bank, a weak and hollow thing, was forced to suspend and er placed in the hands of Orson Adams as receiver. Alter nearly two months of careful investigation Mr. Adams concluded to have Broocks arrested, cnarged with embezzling $100,000 of the money, funds and credits of the bank. The examination has shown that the charge was a mild one. For it has been proved that Broocks owes hig bank, as payer, $259,684 40;, as endorser, $243,999 90; for $508,784 St The overdralts, $5,100; altogether, firms of which he was a* member owe, a8 payers and endorsers, $499,976 57. Their assets will not robably realize twenty per cent of the whoic indebtedness. All are now in bankruptcy. So sublimely was Broocks trusted that his directors only met once a year, but Broocks kept the record book of the board, and during tne past year at regular intervals of two weeks falsely and ‘audulently entered a minute like this:. arch 11, %3—At &@ meeting of the Board of Directors held this day we hereby ratify and confirm all ype counted by the President. Present—'T, . Broocks, E. G. James and W. ©, Lumsden.” Further, Broocks had time drafts to the amount of $84,000 drawn by himself upon non- existing houses, or houses with whom he bad no credits, discounted and placed to his account, and woud never allow these drafts to be forwarded jor acceptance. Paper of his firm was carried year after year, and the ring with which Broocks was surrounded got all the mone erty wanted by ¢x- changing notes and draits. elr accommodation bills at all times amounted to several hundred thousand doliars, although the bank was only authorized by law to carry $40,000 of this kind of aper. he On the evening of the suspension of the bank, to straighten his account somewhat, Broocks «iscov- ered two notes of his own, endorsed by a Petors- burg firm, amounting together to $50,000, On Tuesday, the 284 of September, when the news from New York came by the morning’s HERALD, excitement. in Petersburg became intense, and depositors, mistrusting this bank most and first of all, made a rush upon it, They soon exhausted its small amount of currency, and the bubble burst, carrying ruin to the homes of many perme. mechanics and honest merch; ta who re relying upon the unfaithful ana nopled fal directors to see that all went well inside the bank, The capital stock of the bank was $400,000, It owes depositors $750,000, aud for rediscounted pa- er $350,000, Its assets consist of $3,500 cash, 18,000 real estate and $1,360,090 in bills receivable, all worth say $400,000, The failure of this bank came near bringing ren eral ruin to eet and but little of the deficit ¢an be made out of the stockholders, Broocks’ offence is & grave one, aud the wail of the widow nd orphan, robbed of their sustenance, will be @ sound that only death will bush from his The directors, who gaye up everything gar as scarce! mn 5 sioner, after a fall hearing, sent Broocks on to the United States Court, at its April term, for indjct- men and allowed bail in the moder Ne of ps ends, Broocks is completely broke! spirit is almost deserted by his old fri ike Tweed he 18 finding St the way of the trana- @ressor is hard in the e REAL ESTATE. | ‘he roal estate market continues to present little Of interest at this time, the sales being few and un- important, Owners still hold firmly to high figures, and with a prospect of a further inflation of the currency are not likely todepart therefrom. The following are particulars of yeaterday’s sales :— NEW YORK PROPERTY—BY R. VY, WARNETT. 2s. frame hi. and 1, Ww. 8. 01 1 of 116th #t, lot 23100; J. 8 foore.. we 32, b. 8. h, and J, No. 75 West 26th st slot 21 tix; Eilzabetty Kelley... 5... 8s. brick h. and lease of 1.,%. %. of Both st., 425 ft. w. Of 8M ay., lot 2100.5, Astor louse, has 16 yoars to Fun, wild one renewal of;20 years; Krownd rewt 9240 per annum; Elizabeth H, Miller... 7 205.7 (t. w. of 14,000 6,000 ‘THE DOCK COMMISSIONERS, . Protests Against the Erection of a Dumping Board at the Foot of Maiden Lanc—A Shower of Remon- strances, The Dock Commissioner? gave a hearing yeeter- day afternoon to the property owners and shipping merchants in Maiden lane and vicinity who wished toremonsirate against the erection of a dumping board at pier 19 East River. Among those present were 8.U. P. Odell, Frederick Sturgis, of B, G. Arnold & Co.; Sidney Larremore, of G. H. Messin- ger & Oo.; P. H. Mulrady, of B. D, Huribut & Co.; Silas Lord, of 8. & R. Lord; C, V. A. Schuyler, of c. V. A. Schuyler & Co,; J. T, B. Maxwell, Jonathan Sturgis, C. 5. Baylis, of Frothingham, Baylis & Co. ; John ©. Green, Theodore Roosevelt, Darwin R. James, Of Packard & James; James G. De Forest, of W. W. De Forest & Co.; G. P, Wetmore, Mr. West, representing Isaac H, Knox, administrator of the estate of the late W. W. Scrugham; John Carle, Jr., Of Carle & Strong. Mr, ROOSEVELT, a8 spokesman of the committee, said it would be au outrage upon tie eity I this dumping board were to be erected at pier 19; com- merce would be greatly obstructed and there would be a great deterioration of all tenable prop- erty im the vicinity, The Police Commissioners were said to have been prompted to this action SUPPOSED SAVING OF TWENTY-ONE THOUSAND DOLLARS to the city, but they were prepared to show that the principal taxpayers were ready to pay the ad- ditional amount of taxation rather than to sub- mit to this great nuisance, A protest irom;300 members of the Shipowners? Association was presented. Mr. 3. U, F. ODELL gave some statistics showing the enormous shipping business done at this pier, which would probably be seriously injured, Mr. Roosevetr then presented a bulky protest from 2,000 taxpayers at bed Among the signa tures were those of Robert Lenox Kennedy, Wu- liam H. Aspinwall, A. A. Low & Brothers, John Taylor Johuston, Phelps, Dodge & Co., Frederick Schuchardt, Peter Cooper, Brown Brothers & Co., William B. Astor (who informed Mr, Roosevelt that he merely took a general intereat in the matter), William Butier Duncan, Drexel, Morgan & Co., A. T. Stewart, and many others who might be con- sidered among the largest taxpayers in the city. Mr. MORGAN subinitted protests from several hundred members of the Cotton and Produce Ex- changes, Mr. Jags, of Packard & James, spread out a pe- tition which reached from one end of the room to whe other, and was signed by 800 citizens of Brooklyn, duing business in Maiden lane and its vicinity, Among the signatures were those of Henry Ward Beecher and Admiral Stringham, Mr. JouN C. GreeN then addressed the Com- missioners, He guid the loss to trade and com- pyree would be much greater than the cost of e REMOVAL OF THE GARBAGE further up town. Jt would injure the foreign com- merce of New York most seriously. Mr. ROOSEVELT said a cominittee had called on the Mayor, but he had said he would preter to re- fer the matier vo Police Commissioner Charlick, MI, JONATHAN STURGIS said he had had an inter- view with Mr. Charlick on Monday last. He had stated to him nis views, and Mr.Charlick said ic wag diMecnuit to clean the streets with proper economy without a proper dumping ground in the jower portion of thecity, Ii any other piace were iree from objections née would be glad to remove the dumping ground thither, If none could be found it would cost the city $40,000 additional; but if the principal bankers and merchants wouid all protest against retaining it at pier 19 he would not press it. In that case the Police Commissioner oaght not to be heid responsible fer the additional cost Wo the city. A protest from several hundred fish men of the | fish market and from the draymen of the viemity was also read. Commissioner GarpNer said the facts presented to the Dock Commissioners were that it would cost $40,000 additional if the city had no dumping ground in the lower part of New York. This point Was the only one that was available, and it was, therefore, selected. New light HAD BEEN SHED UPON TRE SUBJECT, however, and now they would have agatn to con- fer with the Police Commissioners, Mr. ROOSEVELT said Mr. Henry Smith had stated the additional cost at $21,700. Commissioner Gaki said he had corrected this estimate subsequently. It was a mistake to snppose that any dumping board was tobe re- moved to the foot o! Maiden lane. The other dumping board in James slip and other places had not been used for the iast two years, and there was, therefore, immediate necessity for a dumping ground in the lower part of the city. Mr. ROOSEVELT desired to know when the Com- missioners would probably arrive at their decision, Commissioner Bupp said it was impossible to say, as President Smith was out of town, and would not be back til Monday, Commissioner WESTERVELT sald they did not know Wien they couid have a conference with the Police Commissioners, Mr, ROOSEVELT expressed the hope that, if the decision should possibly turn out to be adverse to them, the Commissioners would give them notice before doing anything in the matter. Mr. OvELI. said, with a smile, he hoped the Com- missioners would remember the letter of the law that the locality should be “SUITABLE, AS WELL AS CONVENIENT.”? Even if the locality were considered a conven- ient one it was certainly questionable whether it Was “suftable.”? (Laughter.) Mr. WKSTERVRLT (similing)—Maybe some of the gentlemen would designate a “suitable” locality, Mr. Roosevetr then thanked the Commissioners for their courtesy, and the heariug terminated. THE HARLEM BOILER EXPLOSION. —+—___ All the Evidence In—The Boller Said to be Very Defective—Enginecer Belknap’s Report—The Case to Go to the Jury on Wiiday. The inquiry ag to the Hariem boiler explosion ‘Was continued, and as far as the evidence is con- cerned, closed, yesterday, The expert testimony showed that the boiler was very defective and that insufficient care was exercised in the hand- ling of it. The following testimony was given :— John Hughes, of No. 120 East 129th street, testified that he was a boiler maker; Was om the scene of the calamity atew minutes atter the explosion and examined the boiler; found a crack on the inside about 15 inches be- tween the rivet holes: witness mentioned to a friend that the rupture was ihe cause of it goibg up did not find any signs of want of water: the looked like an old defect; the tubes on the top w y thin and worn away, caused, in witness's opinion, by expos ure and beat; had been sibpensed by Mr. Br. Beamer, te By Mr, Belknap—It the Doiler had been’ submitted the ‘pressure that cansed the explosion would the boiler have _blowa A. think not; have tested boliers with cracks im them and the; usually stand the test; if there was a hole in the boiler it would-show, but if it was only cracked {t would be differ. ent; think ‘from the condition of the holler 8? pounds er square inch would havy caused the Fup ture; did not think that the boiler had been properly braced; the boiler, if not cracked, cagne to have stood at least 130 pounds; there was great difference in boiler iron, Witness was here shown some pieces of the ex- ploded boiler; in his gpiuion they were common iron; A boller of the came description as the exploded one Would probably cot $50; boilers were sometimes sold y 4 Luke Slater, of No. M4 Perry street, testified that he wasa boiler Maker; was not interested in tht proceed- ings; ‘made an examination of the fragments ot the boiler, and thought the explosion was caused by a defect tn the man Bole door the quality of iron appeared to be the same as usuaily put In shells of boilers; thought I Was au internal mactine and Hable to blow Up at any time with 49 pounds of steam on If the boiler had been gxnmined atthe proper tne by a, competent enginger the defect would, no doubt, have been discovered—Mr. Jackson here engaged the Witness for about 15 minutes With a nutaber of tselese questions—the botler Was of & peculiar make; there was no indicationjof shortness of water in the boiler; don’t think the tilting of the boiler had anything to do with the explosion; witness believed that the accident was owing to the weak spot not being suificlent to carry. 80 pounds of steam. which was, acs cording to'the evidence, the amount of steam on at’ the time of the explosion, John MeCurdy, of No. 87 South Ninth street, Williams burg, testified that he was a boiler maker dexamined arts of the exploded boiler; considered the design fey: the form of the steel was weak, the bracing was eficlent to the amount of steam cartiod; the iron used was of a second quality; think the pariles purchasing the boiler take, the respensibility on themselves: boliers are often tested before ug sent out of the workshop; Witness did not think that the manayement of the boiler had auything to do with the explosion; understood that it was Well supplied with water. After Recess. Richard H. Lane, of No, lal East 124th street, testided that he was a dealer in grain; was on tho wall ot the em- t nesr the boiler afew minutes before the ex- saw o one attending to the engine; the furnace loor Was closed ; SAW DO one try the steam cocks; saw no connection between the boiler and water tank; saw sev- eral iment moving the platform with crowbars; whil ig, It Was tilted seven of cight inches; witness di not like the looks of things and went into the drag store on. he corner, Re one around the boiler who apparently nad charge of it. James Widlay, ‘recalled, testified that he fited up the boiler with steam fittings; the fittings were not obtained from the Hudson Gaslight Company? kuew Patrick Don nelly; believe that he ran the boller fora tew days thought he fixed the steam stack; never told Mr. Balmore that he ought to, have the bolier testad;, witness, at the direction of Mr. Balmoro, put & pump to the engin . fo. irty-first siteele Neatihed wad ce thal consulting gonstfucting engnsineer. ‘The witness’ report w , the Doroner explosion was he 5 iy stated that there Was an indication of an. old rupture. De repo: an examination showed the iron to be of iriouted the cause of the explosion to eye mato co cast Fon oar Plats and the defective voller, tos jer wi den ure on rane asidered the voller wag well roy with water; ae wae ation and believed Tt ( weigh 8,400 pount itt squ feet of heating surfa ry about eight horse power; there must have been an exces: sive be of steam to have Saused the explo. sion; — witness was satisfied that the steam Ta 0 Babar RY secret eee Gin ay n i tubes; tt icimbent Upon owners of Boiters to hav them tested; the boiler might have exploded with 80, pounds of steam on or less; witness would not have un. dertaken to have moved the boiler with tire on without blowing of steam. In answer to the Coroner witness said that he did not consider it safe to have the boiler attended by boys; also Thought that Mr. Balmore, as @ prac- Pobre ou byes have ge Srv inbe My ng boiler. The gation was here adjourne ¥ hen when the Corouer will give the cage to ie JUEYs TRADE IN CINCINNA Cuba an Important Market for Western Products. Condition of the Manufactories and Industries— Working People Hurt, bat a More Hopefal Feeling Prevalent, CINCINNATI, Nov, 20, 1873, Although the Cuban question is now absorbing public interest and eccupies necessarily so much Space in the HzkaLp, the industrial and financial affairs of the country must stil! claim attention, Tn fulfilling my mission, therefore, I propose to give you, as briefly as possible, a statement of the condition of Cincinnati and the prospecg, First, however, with regard to the horrible affair of the Virginius and the diMculty with Spain, I find the people here and generally through the West, where I trayellea, EARNEST IN THEIR DENUNCIATIONS of the inhumanity of the Spaniards in Cuba and the outrage to the American flag. There are a few of the old Bourbon class, 80 exclusively ¢on- servative and timid that they would rather see the nation humiliated than risk a war, But the reat— the mass of the people—are ready to fight to avenge the wrong done, and insist that the time has come when the unceasing troubles the United States have had about Cuba shall be ended for- ever, They say the issue the Spaniards have forced upon us affords the government the best opportunity it has ever had, or may have, to put an end to these troubles and to extinguish slavery in its last stronghold in this hemisphere. Apart’ from this patriotic sentiment and the feeling of sympathy for the Cubans, which are general, the questions of commercial interest and public policy are taken into consideration. It is argued that Cuba tree, whether annexed to the United States or independent and in close alliance with this country, would open AN IMPORTANT MARKET FOR WESTERN PRODUCTS. A clear headed and experienced statesman and stanch supporter of General Grant’s administra- tion and the republican party—a gentleman who ‘was for a long period in Congress—said to me that the affair of the Virginius waa a grand opportunity for his party and the President, and he dia not think either would be so stupid as not to use It. Admitting that there were evidences in the late elections of a reaction against the republicans and the administration, he felt sure they could recover their popularity by a vigorous national policy to free Cuba, He did not hesitate to say, too, that a contrary, weak and truckling policy must prove disastrous to the repablican party and the admin- istration, Though the democrats must be con- | scious of this fact, it may be said to their credit that, as far as ny experience goes, they sink the question of party or party prospects in that of na tional honor and the wish to settle the Cuban dinl- culty at once and fo: pr. FINANCIAL CONDITION OF CINC But to return to the effect of the turbance upon Cincinnati and the country. I find the generai impression is that the worst 18 past. The shock of the panic was not as | great here at first as in though it was seriously felt, The banks, as everywhere else, took care of themselves by shutting down on the business community, AS a matter of course this embarrassed the manulacturers, merchants and | traders, It ig the same story everywhere—t at the time when the assistance of the banks is most | needed they are either unable or unwilling, look- | ing solely to their own interests, to afford relict. Previous to the panic the Cincinnati banks had drawn into their coffers a large amount of money trom the surrounding, country banks and people, not less, perhaps, than $¢,000,000, The greater por- | tion of this was loaned to New York banks on call | at four per cent, which was again loaned at a higher rate to Wall street speculators in siocks. | Flair doing a large business remarked on this subject that as mu of this money drawn from such a city as Cincinnati, or more, was some- times loaned to a single speculating rm in New York. THE MERCANTILE AND MANUFACTURING COMMUNITY | Was thus deprived of its proper and necessary re- | sources through the cupidity of the banks and | loans made for stock gambling. However, money is somewhat easier now, and the banks are afford- | ing more aecommodation, though they still limit ; their discounts and hold a tight hand om the cur- rency. Ifound at the Chamber of Commerce re- vive activity, and that in consequence, chiefly, of THE PORK PACKING SEASON having commenced. To give an idea of the magni- tude of this business and how much the labor and trade of Cincinnati depend upon it, I may state that last season there were packed over 630,000 hogs. In this business it ig the second place in the country. Chicago | aera for the same riod 1,201,000; Indianapolis, 161,000; Louisville, 3 St. Louis, 419,000, and Milwaukee, 313,000, ‘Not. withstanding the money pressure, the pork pack- ers and other gentlemen of the Chamber of Com- merce express the opinion that more hogs will be packed this year than heretofore. They say the short corn crop and exhaustion of the oid crop | A will compel farmers to bring the stock to market, Some few, however, do not take quite such a hope- ful view. There is undoubtedly a desire with many to give the best color.to the prospect. Not 80 much of this business will be done on cash as in former years, and more, probably, on commis- slon—that is, the larmers will By. vommission for packing instead of selling their hogs for cash. A part of the business has been done im that way tormerly. The granges, too, have done some in- dependent of the usual traders and purchasers, and do still. Yet, no doubt, it is more convenient to the farmers ana more prefitabie to the traders and packers to have cash transactions. The farm- ers generally in Ohio are in good circumstances, tee! tne financial difficulties little, and are not suf- fering. And those manufacturers who have to do with the farmers directly, as the manufacturers of | agricultural implements, are much in the same | condition. There is less suspension of labor with them than with otners, For example, Lies Shed Ohio, manufactures largely agricultural impte- ments, and there the works.are running on full me, THE INDUSTRIES OF CINCINNATI are varied, and, for the most part, well estab. lished. The manufacture of clothing, boots and sLoes and furniture is on a large scale, and gives employment to @ great number of people. One cluthing establishment employs 3,500 hands. The Managers say they have never discharged any or reduced wages. Other similar but smailer estab- lishments tell the same story, with the exception ot @ few who have either discharged workmen or reduced the working time. The boot and shoe manufacturers employ from 1,500 to 1,800 hands. They are in much the same condition aa tue clothiers, Inthe manufacture of furniture there are about 4,000 people employed. There is a par- tial suspension of labor. In the different works iron, including foundries, machine shops, stove other Manufactories, which yield over $22,000,000 @ year, & large mumber of work- Toen are employed. There 1s im most of these a reduction of han or of time. The distiliers and brewers do a large business, the ponnee being over $21,000.000 a year, They have met with some check, though going on witha reduction of force. They Cee a will not arink much lesa in consequence times. An estimate has been made here, after In- vestigating the condition of the various manufac- turing establishments, whieh gives 148 firms, em- ploying 12,467 hands, and who have discharged only 635 workmen. Some ot these, however, are working shorter time or at reduced wages. Nor e these all the firms and people employed in ‘Then, | have no doubt, a look as well Possi- till, with all that, there employers made ev: he hie when interrogated NOT A LARGE NUMBER OUT OF EMPLOYMENT and not much suilering. There are not as many idle people on the streets asin some of the Nast- ern cities, Provisions are abundant and reason- ably cheap. Fuel, too, does not cost ey) as much. A single laboring man can board for $4a week. Of course many pay more, and for families the cost is increased according to number, Some have not been able to pay thelr board since tne trouble threw them out of work. There are a number of charitable societies and soup houses to afford relief, and ther have found many applicants, Jewellers and others who deal in ar- tiles of luxury merely complain of want of trade. Some peorle, think More laborers will be «dis- charged and that there will be harder times as the winter advances, Much depends upon the money market. For the present there is an uncerta! a Confidence or apprehension is expressed accorda- ing as people are affected or not by tho times, HB OPSTON TRAD! hag been Go, bas begins to revive, About 100,000 bales are ha’ here in the season, though but ness in cotton is Tt to donbie that amount, The Gecers expect an increase over former years. ‘otton comes here chiefly from Arkansas, Ken- tucky and Tennessee. Thi Ene an sprung p since the war and is growing, 1t 1s a curious fac: that while THE WHOLESALE DRY GOODS TRADE ig very flat there is an active retail business. This arises, apparently, from the retail stores having marked down prices and thus Loy cus- tomers, The numerous and ubiquitous dry goods drummer nd collectors, E have met report, how- ever, sa inpaeed State of thil generally in the. } West, and that it is easier to collect money than a few Weeks ago, REDUCTION OF HOURS OR OF WAORE. At Dayton, where there are jarge manulacturing establishments, such a8 machine anope, oa works, and making of agricuitaral implements—a place of 36,000 Depulation—the time of labor generally hag been reduced from 10 to sixhoursaday. At Alton and Maastield, Ohio, where. there are exten- sive works, there has becd also some reduction. Riching @ thrifty manufacturing place of | H | and now compiet 2P i Re CHANC! 16,000 inhabitants, a Quaker town and sort «> on- shoot from Paietelvale, where woollens aud rs variety of thi are made. * Here there has been a rtial suspension of labor and a reduction of wages, veral of the railroads connected with Cincinnati have reduced wages 10 per cent. The railroads ara not doing a8 much business as formerly, Much Jess freignt te, going West and there are fewe; passengers, The ireight produce business {ro} the West 1s generally good. On the whole, PEOPLE ARE MORE HOPEFUL, and think that with the re-establishment of con» nidence, of which there are signs, trade and Manu- fac.uring industry will revive. it is ex: the shrinkage in Values will increase the purchas- ing power as soon as currency is set free, Apart from the temporary Sormipeaee caused by the anic and need of money that has been locked up n consequence, the great want of the West is cheones transportation for its produce to the sea- — OH SALE. : ae nnn JAR STORE, IN GOOD LOCATION, NEAR CITY all, Brooklyn, doing @ good. business, (lor sale cheap. Address CIGAR, box 198 Herald office. A BOOK, STATIONERY AND TOY STORE FOR sale—On Third avenue; first class locationg good Teason for selling. Apply at 1,021 Third avenue, NEARLY NEW GROVER & BAKER'S SEWING Zh, Maghine, fall cabinet, handsomely finished, to be ld tor $50. May be se A oi Browtway, ok Pradan ETS needle depot, LINE OF NEW SAFES AND A VARIETY OF second hand Safes; must be sold before January 1 gs ake Spo oes soak ea improved Pee CombaNy, 300 Broadway, Sa et JOB PRINTING OFFICE—CONTAINING FOUR presses (two Hoe’s cylinders), steam engine, bolle! larg quantity of type and material, ether with se eral thousand dollars’ worth of work—wiil be sacrificed toacash customer. Address R. P., box 167 Herald office. N_ INDEPENDENT AND LITERARY WEEKLY Journal—Established in New York city a numberof years, Ai enjoving s ae jpare of eo onare LE bo ol low price. Particulars can be a: addressing BUSINESS, box 182 Herald ont = ii A Seewion Me 4& WILSON FIRST Ot ASS FAMILY in bi wera acne: ost mem Bane ely: onseeed walnut; lce $2 must 0! vel ye aso setof mink Furs.” «io tfudson sirebh, Yo Ve Ota: A. SAPITAL BUSINESS AND ELEGANT PROFES sional residence, furnished, with lease, for sale, through death: best sitaation in New York; 10rooms and offices; bot and cold water, bath and every convenience for comfort and profit; pric furniture complete, + light, gentlemanly; business fast improviny suited’ for any professional or business man;_ pro! 100,000 yearly ; proofs an opportunity that oceurs once ‘ifetime ; rgain; highly recommende res AGENT, Herald Uptown Branch oftice, A GROcERY sronE FOR SALE OREAP—MUST * dress be sold at once; rt fe - be sold at once; best location in Jersey City. Ad: RUG STORE FOR SALE—IN BROOKLYN, E. D. Price $2,000; would exchange for Real Estate. JOHN A. DUNN, 566 cond avenue, New Yor! Woe; La Perr SH, OyeTER. tig AND VEGETA. le Market, in good location, up town. Addres BUTCHER, Herald Uptown Branch office. core {OR SALE—AN OLD ESTABLISHED PRIVATE Market, on the best avenue in 1) i i and prosperous business; long i Tore Wagons, dc. For inter town Brat Fo" SALE—A FINELY FIITED UP TEA STORE. and splendid Stand for business. Apply on the Premises 527 Third aveune, near Thirty-fifth street, . WO COPPER STILLS, 8 AND 160 GAL-* tubs, steam pipes, traps, &c., colie workin, VOSEVELT & SON, $4 Maiden lan A FIRST CLASS OYSTER HOUSE ON. one of the lending avenues in Brooklyn. Inquire of JOHN ENDRIS, 204 Court street. y ee GOR SALE. Jons; wor plete; can be » TOR SALE—DRUG STORE, 11 B STREET, with a complete Stock; also a to let; both ¢ be had cheap. Inquire at 24 Canal street. hace 2 CHEAP—THE B tAURANT IN under two ballrooms and. (wo. theatres; sale immediately) } very day, between id 145 East Yourteenty at 1 a an i building. UANTILY OF POR SALE CHEAP STATIONERY. and Blank Books; also Store Fixtures. Apply at once at 24 Myrile avenue, Brooklyn. OTEL FO A LARC » Hotel, in the upper part of the city, with long lease, y filled with guests. Apply to HOMER MORGAN, Ne ROGEAWAY.CBAY SALOON, OCCUPIED BY MR. y Peter Farrell, for sale or to let, Inquire of J, McKIM, on the premises, " , PURCHASER FOR COR- ) ner Tea and Store on @ principal avenue, Fatisfactory reasons jor selling. Particulars at imter- Address box 135 Herald office. view. Qares FOR SALE CHBAP.—A LARGE SIZE SAPP, two medium and one ‘small Sales, of Herring's. is Marvin's and Lillie’s make, at 8. G. QUIRK’S, 72 QEALSKIN SACK FOR SALE—$9) LESE THAN COST; used but three months, Address SEAL, Herald oifees 10 DRUGGISTS.--DRUG STORE FOR SALE ON A leading thoroughiare in the city; established 30 years; long lease; cheap rent; profiis, after deducting all expenses connected with the business, $ price, $6,000 cash, no agents, Address LIRUDINE, Herald office, 85 '—PLUMBING AND TIN ROOFING ) For sale, cheap for cash ; doing a go Apply to JACOB A. HATZEL, 161 'East Houst 3 500. —HOTEL AND RESTAURANT— FUR. eDet « nished, In good location; rooms all filled; @ rare opportunity to any one who has the cash. 2 dress, for two days, M. R., box 134 Herald oilice. ‘MACHINERY LARGE STOOK OF HORIZONTAL, UPRIGHT aud portable Engines: locomotive, tabular, flue and upright Boiiers, steam Tay &c., second hand. WILSON & ROAK, and 284 Water street. ANTED--MACHINERY, NEW OR SECOND HAND for cash; Grinders, Mills, Calendars, &c., 4c. Ad- Gress, stating article, size and. bore, rice 1d’ where to ns be secn, for one wei A RUBBLR, Herald office. = ol EXCHANGE. | $1 500 —HAVING SOLD A PROPERTY AND Dl.e + taken one-third in an instalment note, I; will exchange it for an established Business, city or can add collaterals If necessary. box 114 Heraid otfice. country Address WALTO SSSONS IN THR ireterences will Herald Uptown be rev Braneh office. EUROPE. H° RSSRS. BAKERS, WHITE & MORGAN, English and Bavarian Nop merchants, Hibernia Chambers. London Bridge, England, are prepared to ex- ecu.e orders for Hops entrusted to’ them by American brewers and hop merchants, Terms cash before ship- ment, Reference and Westminster Bank, Southwark, Lo ne LOOKING GLASS MANUPACTURERS.—ROTARY, Grinding and Fotsning Apparatus, of the latest sys- tem, to be had of FRANZ PETERS, Machine Works im Eupen, Rhein-Prussia, PROPOSALS. _ ‘OTICE TO STONE-CUTTERS, Proposals will be received up to 12 M. noon, of December 15, for firmshing the stone work for the bnilding to be erected corner of Milk and Devonshire streets, Boston, Mass. Een proposal must be seated and endoreed “Proposals r Btone Work of Building eorner of Milk and Devon- shire streets, Boston, Mass,” and be addressed to the undersigned. The proposals must be accompanied by the satisfactory nuarantees of two responsible sureties, to the amount of $in\000 each, for the duo execusion of @ contract and the faithful performance of the work under it, on the part of the proposer, if awarded to him, Plans and specifications and plank forms of contract to be executed can be obtained of the undersigned on and alter the 3d proximo, on the payment to him of $10. Proposals will be’ recelved tor the execution of the work in marble, granite or free stone. ‘The undersigned reserves the right to reject any or ail proposals, THEODORE WESTON, Engincer, 120 Broadway, New York, MISCELLANEOUS: TTY AND COUNTRY GROCERS, BUTTER, LARD and poultry dealers desirons of ‘making thetr ¢sian~ monts attractive and increasing their sales during we approaching holidays and tor all time, can do so by in- Vesting the small sum of from 5c. ‘to So. at CAMP. ELL'S, 66 Fulton steet, room 4, Mail orders despatched B romptly. Every country store keeper should send Hfict entities, honey refundek eer nome mens ee I C, HILDRETH, RANITE FOR BULLDINOS, 4, Monuments, Headstones, &c.; Quincy, Connectieut, Scotch and Maine Granite. Cemetery Lots enclosed with posts and bara Noble street, near Franklin, Greenpoint. Wee __ RESTAURANT Na, IVE AND LBY LIVE—212 BROADWAY, CORNER 4 pe eee dies’ a gone! Oveiae Seo a ne ‘I to famities by orye00, ie isiniaitbidcdaieliamal "1 SPEKCER, 5 BILLIARDS. -s AMERICAN BEVBL TABLES AND ALi Mean Coilender Combinadon € pion for sale only by the pa il, W. COLLENDER, sue cessor to Piclan & Colle! a uc York. -A LAR | ae tae bon hed teri 4 « hand Billiar ‘ables constanily on hat al i SHELNs, No? Barclay sires Now Yorke eno —A LARGE ASSORTMENT OF NEW AND SECOND. A. tand “Sinined. Tables. constantly on handy ae) GEORGE E PHELAN’'S, Ni 7 Barclay street, New York. H, GRIFFITH & CO.’S NEW IMPROVED. BEVEL! W.. titi Taptos: with Delang 8 atool | Giishions are the only. tables made which give entire antisfaction to purchasers and players; c= ments offered to buyers tor cash. “ street. ta SE: ARV Meare a Rag dst classat be. WHEY, 18) Atzcivavenges “o orgie, At we mee y