The New York Herald Newspaper, March 20, 1875, Page 6

6 NEW YORK HERALD BROADWAY AND ANN STREET. JAMES GORDON BENNETT, PROPRIETOR. NOTICE TO SUBSCRIBERS.—On and | after January 1, 1875, the daily and weekly | editions of the New Yorx Hzaarp will be sent free of postage. THE DAILY HERALD, published every | day in the year. Four cents per copy. An- nual subscription price $12. | All business or news letters and telegraphic | despatches must be addressed New Yorx Herarp. | Rejected communications will not be re tarned. Letters and packages should be properly sealed. LONDON OFFICE OF THE NEW YORK HERALD—NO. 46 FLEET STREET. Subscriptions and advertisements will be received and forwarded on the same terms as in New York. ssseceneeesHO, 70. | i} AMUSEMENTS THIS APTERNOON AND EVENING, | VOLUME XL ACADEMY OF MUSIC, enth strect PHILHARMONIC CONCERR, at 8 closes at 11 ¥. M. GERMANIA THEATRE, treet.—GIROFLE GIROPLA, at 8 P. M.; Rees ibas eS Mise Lina Mayr. Matinee at3 P.M TONY PASTOR'S oe HOUSE, ta ieylroetnaye tine: 8 P. M.; closes at 10:5 | og ey TB: roadway.—RORY orwomte, a8 P.M.; closes at 1045 .M. Matinee at 2P. M. FIFTH AVENUE THEAT! nty eighth street and Broadway. TARE BIG BO- yr e atS¥. M.; closes at 10 30 P. ir. Fisher, be begs ‘Miss Davenport, Mrs Gilbert. Matinee at 1: LYCEUM TREATRE, Fourteenth street, near =< avenue,—LUCREZIA BOXGIA, atl:30 P.M. Mme. Ristori. PARK THEATRE, | French Opera Bouffle—GIROFLE-GIROFLA, | — is 10:45 P.M. Mile. Coralie Geoffroy. | GRAND No. 585 Broadway.—' P.M. Matinee at2 BooTH'S THEATRE, ird street and Sheth a Closes at It P.M Mr, Biguold | NTRAL THEATRE, oe 8 P.M.! .eleses at 1045 SAN PRANCISCO MINSTRELS, corner of Twenty-ninth strest.—NEGRO LSY, at8 P. M.; closes at}OP. M. Matinee at TIVOL! ighth street, between eee vad — avenues— AKIETY, at 8 P. M. ; closes at 12 P. Broad wa: x INSTR! P.M. ALLACK’S THEATE: Brosaway. p-THE MHAUOURAUCN. aaa. M. gloses at | WOE War Boucleauit. ‘Matinee at 10%. | OLOSSEUM. | Broadway and Thi arth § street PARIS BY NIGHT. | Two exhibitions dai MRS. CONWAY'S ee ae THEATRE! rooklyn.—MACBETH, at closes at 10: rs. Hackett and Mr. Vandentiot! PM ‘WOOD'S MUSEUM. corner Thirtieth street—MONTE CHRISTO OUs, et 8 P. M.; closes at20 45 P. M. Matinee OLYMPIC THEATRE, FS 624 Broadway.—VARIETY, at 8 F..M.; closes at 1045 M. Matinee at? P. M. ROBINSON Balt. Fixternth street and Broadwi ‘ALLENDER’S BRoge GTA a ig ls at 8 P. Sa closes at 10P. M Matihee at 230 P. M. THEATRE COMI FE 514 Broadwry.. sy ARETE. ace P.M. Matinee at2r. M. re diss closes at 1005 METROPOLITAN MUSEUM OP‘ART, ‘West Fourteenth stree.—' Open from 10 A... atte toS P. M. ROMAN | HIPPODROME, Fourth avenue ana went seventh street—CIRCUS, sperm AND MENAGERIE, atternoon and evening, atiand BROOKLYN PARK THEATRE. itoo avenue.—VARIETY. at 8 P. M.; closes at 1045 ML Matinee at 2 ?. M. BRYANT?’S OPERA HOUSE, West Twenty third street, near Sixt! Tre. —NEGRO MINSTRELSY, &c., ats lr. M.; closes 10 P.M. Dan aides Matinee at 2 F TRIPLE sat op SEW YORK, . MARCH 20, 18 From our ae this morning 7 the probabilities are that the weather to-day will be cold and | Bloudy, with rain. | Watt Sreret Yesterpar.—The:stock mar- ket was unsteady. Gold closed at 116} Foreign exchange was firm and government | one American statesmen has ever succeeded | Clinton, | the Continent. An artificial waterway con- | | mind. Had the invention of railroads been | of the Erie Canal would have incalculably | West. | compensating advantage in another re- | countries was distributed along the whole | | New York with all parts of the country for- | tic slope, which we could never have done if NEW YORK HERALD, SATURDAY, MARCH 20, 1875.—TRIPLE SHEET, f the Governor Tilden’s Message on Canals. There is one subject on which Governor Tilden is, perhaps, better informed than any other man in the State, or, indeed, in the whole country, and that is the subject of artificial channels of transportation. It is a subject upon which, important as it is, but in building up a distinguished reputation ; for Fulton was not a statesman, but belonged to the class of inventors, and what he gave to the world was the means of navigating more swift'y and cheaply the great liquid high- ways created by the hand of Nature. It is artificial highways of commerce of which we are speaking, and in this great field of effort and enterprise there has been but one Ameri- can statesman who has acquired a splendid | and lasting fame, and even his laurels would have been unattainable had he lived half a century later. We, of course, refer to De Witt who is chiefly remembered for activity in securing the construc- tion of the Erie Canal. This was before railroads were even imagined as possible, and when all the greater move- | ments of commerce floated upon water. De Witt Clinton had the sagacity to appreciate and utilize the immense advantage which was putin the grasp of New York by a fact in physical geography. The long mountain | range which runs parallel to the coast, forming a watershed sloping on one side toward the | Atlantic and on the other side toward the Mis- | his communication between the West and the East, is divided to its base in the Highlands of | New York for the passage of the Hudson ; and above the Highlands, at the entrance of the Mohawk, there is a stretch of almost level country westward to Lake Erie, one of the cluster of great fresh water seas which are | the most marked features of the geography of necting the Hudson with Lake Erie was a traly majestic conception worthy of a great postponed for a century beyond that period, instead of ten or twenty years, theimportance surpassed the actual realization, great as that has been. It has certainly been very great. °Phila- | delphia, which was o larger and more im- | portant city than New York up to the comple- | tion of the Erie Canal, immediately began to | fall behind, and within ten years the com- mercial supremacy of this city was estab- lished on a basis too firm to be ever shaken. | A prodigious impulse was at once given to the settlement of the West, and the prosperous communities which rapidly grew up on the fertile southern shores of the great lakes sent all their products to market through the Erie | Canal, and the city of New York had a mo- nopoly of the business of the great rising When railroads were constructed across the Alleghanies, with termini in other | Eastern cities, a portion of the Western | traffic was diverted from New York, which, however, has continued to hold the lion’s share in consequence of the greater cheapness of water transportation. But if railroads have prevented the entire concentration of Western business at this port, which. would otherwise have resulted from the Erie Canal, they have brought spect. So long as goods could be conveyed from the seaboard to the interior only on wagon roads the importing business from foreign line of Atlantic seaports in proportion to the | extent of back country whose trade they sup- plied. It would have been wastefully absurd for the country dealers of Pennsylvania or | Massachusetts to have purchased imported | goods in New York and have incurred the ex- | pense of transporting them by horse teams. But as soonas anet of railways connected eign importations began to concentrate in | this city, and here the bulk of the importin; business will always remain. We not only | import for the West, as we should always | have done if there had never been a railroad, but also for the whole long line of the Atlan- goods had continued to be distributed over slow and expensive wagon roads. In spite of the creation of railroads our bonds strong. Te Canrits.—The greatest danger to the | Carlist eanse was the unwillingness of the Carlists to support it. Cabrera’s secession is one of the latest and heaviest blows Don Car- | los has met. Tox Park Hosrrrat has been condemned by the Superintendent of Buildings. Hos- pitals are meant to cure, not to kill, and prompt action should be taken upon Mr. | Adams’ practical and timely advice. | Tae Sravccie between the English govern- | ment and John Mitchel is, we are sorry to say, | likely to be ended by death. His life is despaired of. How much better had the gov- ernment been great enough to bave ended it | by «n act of clemency and “ones | Tae Beecrer Case.—The interesting featare | of the Brooklyn trial yesterday was ¢he ap- pearance of Bessie Tarner as a witness for the | ee, and the young lady “talked and talked and talked,’’ and testified to the impor- tant facts that Mr. Tilton disliked bad gram- mar in family conversations and was not fond up beefsteaks, but was unfortunately too fond ot Bessie. defe of dried Tae Repverican Senators have at last arranged their little difficulties and deter- mined in cancus to recognize the Kellogg government in Lonisiana. A resolntion to this effect is expected to be passed, notwith- standing the reluctance which many members of the party have to confirm a government which has proved its own inability to stand alone. Tun New Canteen apeciat cable de- spatch to the Heratp from Rome informs us that Mgr. Roncetti, the ab-legate, and Count Marefoschi, commissioned by the Pope to bring to New York the berretfa and the formal notification of the cardinalate conferred upon | Archbishop McCloskey, left: Rome last night for America, Father Hecker, the well known Paulist, of this city, gave a dinner yesterday in Bome to the departing Papal couriers in honor of the event. strongest hold on the trade of the West still consists in the cheap water communication | which we enjoy throngh the Erie Canal, an advantage which can never be shared by any | of our rivals except the Canadian cities on the St. Lawrence, which are subject to a blockade of ice for half the year, while our harbor is always open. When we once get steam on the Erie Canal, keep the canal in a uniformly good condition and charge a very low rate of | tolls, we shall have no reason to fear the Cana- | dian competition, and no other water commn- | nication is possible between the West and the ocean except by a roundabout course through the Mississippi and the Gulf of Mexico. The commercial supremacy of New York is there- fore very secure if we make the most of our unrivalled advantages for cheap transporta- | ; tion. Unfortunately, our State Legislature has | | been squandering this great advantage for a | period of forty years—that is, from the time | when it became necessary to enlarge the origi- nalcanal. A hostof selfish local interests then sprung up, which refused theirconsent to the enlargement unless the State would construct a multitude of branches extend- ing through almost every considerable valiey between Albany and Buffalo. The combina. | tion between these local interests was strong enough to arrest the enlargement of the Cen- tral Canal, which was at last accomplished only by scandalous log-rolling legislation that saddled the expense of the worthless lateral canals upon the main work, thereby doubling the cost of the enlargement. Had these worthless appendages been discarded tho canal debt of the State would have been paid many years ago, and the tolls on the Erie Canal have been reduced to the mersly nomi- nal rates which would have snfficed for work- ing expenses and ordmary repairs. The rail- roads which have been built on lines parallel to the branch canals have rendered them so utterly worthless that the recent amendments to the State constitution authorize their sale or any other mode of disposing of them which will rid the State of the burden of their main- tenance. This constitutional provision would of iteelf imtroduce a new era im our canal management, even if there were not strong reasons fora change of pelicy resting on other grounds. We cannot withhold from Governor Tilden the just praise of sagacity in discerning the fall importance of this crisis in our canal policy. He recommends that no further ex- penss be wasted on the worthless lateral canals for keeping them in repair. But he does not stop here. He proposes to give the whole system of canal management a thorough overhauling, which no intelligent man can doubt that it greatly needs. The canal inter- est is altogether the most important of any which is placed under the supervision of the State government, and it is the one which, above all others, concerns the welfare and prosperity of this city, which is so vitally interested in cheap communication with the West. This Message, in its animus and intent, is a vigorous attack on what is known as the Canal Ring, the most powerful and, since the fall of Tweed, the most corrupt combination in the State. Itis of much older standing than the Tweed Ring, which was a mushroom growth, and its opportunities of plunder are greater in proportion as the amount of money spent on the canals is greater than the expenditures on the Harlem Bridge and the new Court House, which were the pet jobs of the city Ring. We rejoice that Governor Tilden has taken this business in hand, although there is reason to fear that the po- tent influence of the Canal Ring in the Legis- lature may thwart him. When his Message | sissippi, and interposing a berrier to water | had been read in the Assembly yesterday a motion was made to lay it on the table, which was a mark of disrespect. In a confused viva | voce vote the Speaker declared that the yeas had carried it, in manifest contradiction to the preponderance of voices; but a count was called for, which put the Speaker and his Canal Ring adherents to shame. But this treatment of the Message is nevertheless an indication of the vigorous opposition which the Governor's recommendations wili en- counter in the Legislature. There will be an animated contest, and it is the duty of every honest citizen to give his moral support to the Governor. The Canal Bing, as the Governor shows in his Message, is a corrupt conspiracy, which doubles, trebles, and sometimes quadruples, | the expense of all work done on the canals by erafty and deceitfal bids and other dishonest artifices for swindling the State treasury out of money which goes into their own pockets. The money thus dishonestly squandered is one of the main obstacles to cheap transporta- tion, in which the State, and especially the | city, has so deep aninterest. The Governor's policy is given in detail in his Message, an in- | structive document, to which we refer our readers. Having shot this bomb into the camp of the Canal Ring, he cannot avoid a | fierce contest, and it will be a great feather in his cap ifhe comes off victor. He deserves and will receive the support and good wishes of all the honest men of the State in this at- tempt to cut up old and deeply rooted abuses | which have long been the most formidable ob- | struction to cheap freights during the season of navigation. General Sutler en the Civil Rights Bill. The letter of General Butler to Mr. Robert Harlan, ot Cincinnati, which we give to the public to-day, is, like everything that the cele- brated statesman says, clear and to the point. It is a candid exposition of the Civil Rights bill by one of its strongest supporters, and is important as definition of the real purpose and scope of that much abused and generally | misunderstood measure. The law passed by Congress does no more, in General Butler's opinion, than to confirm the rights already possessed by the colored man at common law, but denied to him because of the preju- dices existing against bis race. He shows that the rights of colored citizens are not in- creased by the act of Congress, but that it has simply given them greater power to en- | force them when they are denied. Special penalties are affixed to the violation of com- mon rights, and United States courts are clothed with the authority to compel obedi- ence to the common law. But the enactment does not confer upon the colored man the right to interfere with any business which is private in its nature, so far as the person engaged in it has the option of selling or refusing his goods or his labor to applicants. As we cannot compel a merchant to sell wheat or wool when he prefers to keep his merchandise, s0 we cannot compel a boarding-house keeper to take unwelcome boarders, nor a barber to shave people he does not wish to shave, nor a tavern keeper to sell drinks to unprofitable customers. What General Bntler says upon this latter point is | perhaps a little too severe in its morality, but an excess of that kind can easily be pardoned in one who is inexperienced in ethical teach- ings. His letter has the great value that it explains the limited scope of the Civil Rights act to the race which is in danger of misun- derstanding it, and his advice to colored men not to attempt to use the new law as a pre- | tence to interfere with the private business of private parties is so sensible that we trust it | will be generally heeded. Tue Executioss Yesterpay.—A man who | resembled the traditional bandit of the novel and the stage more than he did the ordinary American criminal was hanged yesterday in | San José, to the general relief of the com- munity he had so long plundered and menaced. ‘This was Tiburcio Vasquez, a robber and murderer of the ancient type, who was to California what Fra Diavolo was to | Ttaly, who, it is said, certainly killed eight persons, and probably killed many others, and whose robberies it would be difficult to record. He was the terror of Southern Cali- | tornia, and was leagued with other desperate | men as wicked but not as intelligent as him- self. Of his crimes and the long war he waged with society we give an interesting de- scription elsewhere, with a special account of his exeention. He died bravely, as such men generally do, and professed his innocence of murder to the last, although the evidence of | his guiitis convineing. We also give a report of the execution of Fouks, the Herndon family. Tae Govamncext has already taken the preliminary steps for modifying the treaty with the Sioux Indians in regard to the Black Hills. That country should be opened to_ civilization, but not by injustice to the In | dians. the murderer of | The Geld Speculation im Wall Street. The price of gold is carried up by the manipulations of a clique of speculators taking advantage of an accidental condition of the market. Nothing is more certain than that it cannot be maintained for any length of time. It is like a speculation in grain during the brief interval between the assured cer- tainty of a great crop and the ability to har- vest it, thresh it and bring it to market. Within the ensuing three or four months the American market will be flooded with gold. The Treasury will pay out at least forty mill- ions more than it will collect for duties. Thirty clear millions will be paid for the called bonds before the 1st of June, and the May interest and the July interest on the national debt will make a large addition to the gold supply. This certainty of a redundant supply of gold within the next few months is one of the chief elements of which the clique of tricksters avail themselves for carrying up the price. It is a guarantee that no gold will be imported from foreign countries to check their specula- tion. An excessive premium will not induce foreigners to send gold to this market in face of the certainty that thirty or forty millions are soon to be poured out of the national Treasury. Before the gold could cross the ocean the price might be broken by payments of the called bonds. The gold market is temporarily in a state of great uncertainty, because nobody can cal- culate when the called bonds will be pre- sented for payment. The Treasury offers to pay them at any time, with the accrued interest ; but it is impossible to foresee what proportion of them may be offered before the expiration of the three months. Foreigners areas ignorant on this point as we are, and their ignorance, which forbids them to send gold to this market, however tempting the price, is the main security of our clique of speculators. Having nothing to fear from importations of gold when they carry up the price, they can proceed with boldness and safety until the called bonds begin to be pre- sented to the Treasury for payment. As soon as this process begins the speculation will ex- plode and collapse, and the clique will hasten the crisis if they carry the premium much higher than it is at present, which would in- duce the holders of called bonds to get their gant price. But, although the present specu- lation will necessarily be a short-lived affair, it works a great deal of mischief while it lasts, Merchants whose importations for the spring trade are just arriving, or who wish to take goods out of bond for spring sale and must have gold to pay the duties, are seriously in- jured. The speculators are obstructing the revival of trade, and we hope they may be soon broken down by large presentations of the called bonds for payment. Another Big Bonanza. The English journals have brought us the re- port of an extraordinary case which has just been decided in the London courts, Lord Chief Justice Cockburn on the bench, The story is that in 1871 a person named Longbottom strived in London from Canada, claiming to possess certain oil wells in a place called Petrolia, in the province of Ontario. He had documents, supported by the seal of the British Consul at Buffalo, averring that these wells yielded five hundred barrels of oil a day, and that the.profit upon them was equal tq about five hundred thousand dollarsa year. He offered this property to various city bankers, but they declined it. He called on Mr. Albert Grant, to whose genius we owe much of the success of the Emma Mine; but that gentle- man, although not having the best reputation for financial impartiality, also refused to accept it. He then induced a Mr. Mowatt, chair- property for about one hundred and twenty- five thousand dollars cash and three hundred and seventy-five thousand dollars ‘‘in bills.” This property was then formed into a com- pany, called the Canada Oil Works Corpora- tion, and the capital stock was two million two hundred thousand dollars, being, at a very moderate estimate, at least thirty times the highest value of the property, and cer- tainly about five times the amount for which it had been offered for sale in America. A tlemen—among them Sir John Hay, Sir Sey- mour Blane and Mr. McCullogh Torrens— were placed upon the direction. An agent was sent out to look at the wells. He was shown several tanks full of oil, and, being of acredulous turn of mind, and believing that because he saw oil was in the tanks it must certainly be in the earth, telegraphed back that he was ‘thoroughly satisfied.’ So the company was formed, the shares were sold, Longbottom and his colleagues disap- peared with the money, and it was soon found that the whole thing was a bubble. One of | the shareholders brought suit against the | directors, claiming that frand had been shown | in the issue of shares. The Lord Chief Jus- | tice ruled that unless direct bad faith could be | shown on the part of the directors it was im- possible, under the English law, to convict them of fraud. Notwithstanding this ruling the jury disagreed, and the practical effect of this disagreement is that the directors, not- withstanding their rank and social position, | who gave their names to a swindling corpora- tion without due scrutiny, are marked men in England. The facility with which the English public | were induced to buy these shares, without | taking the most ordinary steps to inquire into their valne, shows that financial people gen- | erally are a good deal like the buffalo. They | herd together and skim over the plains and | follow their leader, even if he takes them toa precipice. It is only a repetition of the Big | Bonanza speculation in Nevada, which cul- | minated the other day in enriching the few and impoverishing the many. It only illus | trates the character of many of the shares in | Wall street. If we look down the history of man of a financial company, to purchase his | | board of directors was formed, and five gen- | gold at once in order to profit by the extrava- |/ which have no value except ss means for enabling desperate gambling speculators to become rich with the money of other people. The English University Race—The International Contests at the Cen- tennial. At one o'clock this day, London time, Ox- ford and Cambridge will make a thirty-second trial of their skill and stay at the oar, and over the usual four mile and three furlong course from Putney to Mortlake. For five successive years Cambridge has not been beaten, and, even should she be to-day, it would only again render hera victor as many times as her rival, the score now standing six- teen for her against fifteen for Oxford. There is promise, too, of a closer struggle than last year, and we hear of no such long odds as the five to two then offered on Cambridge. Both crews retain their old strokes, and Mr. Way, of Cambridge, has been much praised for his work, promising, should his team win to-day, to take a place among the famous stroke oarsmen, such as Darbishire and Brown, of Oxford, and Goldie, of his own university. Of the sixteen rowers three in each boat, we believe, have rowed in former inter-university races, one of the three in the Cambridge party (Mr. J. E. Peabody, of First Trinity) being also an American. Though every year brings its new force of graduate oars, who are able and willing to coach, the time made in these races of late years has not been better than occa- sional former records, which, after making large allowance for all uncertainties of weather and tide, would still render it doubtful whether the only right way to row was not really found and practised long ago. Nor do the famous sliding seats seem to make such a marked impression on the time after all. The style aimed at in both boats is probably more like that which Captain Cook learned and taught his Yale men so well last summer than that of any other crew then at Saratoga or inthis country. In 1866 Sir Charles Dilke sbowed it to the Harvard men on the Charles, and they laughed at it as egregiously stiff and formal. ‘Three years later, on the Thames, they were beaten by it, and even then four years more passed before it was seen on our waters. Yale, Harvard and Col- umbia all had something much like it in 1874, and, doubtless, in the contest now less than four months off, many of the eleven other crews will believe in it. Those, however, who do nothing but stick to the old plan, with its five or six more strokes a minute, seem in a fair way to bring their favorite theory to a practical and most excellent test. Thanks to the enterprise of the Schuylkill Navy, its Commodore, Mr. Ferguson, visited last summer tbe principal amateur oaremen of Europe to in- vite them to come and take part in the races on the Schuylkill next year in connection with the Centennial Exhibition, and brought back the gratifying word that no less than nine English clubs, among them, too, the amateur champion oarsmen, probably, of the world, the justly famous London Rowing Club, besides such well known organizations as the Kingston Rowing Club and the Royal Chester, of Liverpool, and last, but far from least, the renowned Gesling crew, of Paris, would be on hand on the Schuylkill to try conclusions with all who would be there to meet them. Sucha meeting has long been hoped for, but never yet been brought about, and there is hardly a young man in the country with any claim to healthy views and feelings who would not keenly enjoy witnessirg this which promises thus to be a great international struggle. And the time falls most: opportunely, for the Fourth of July comes but ten days or so before the great race at Saratoga, thus giving the strangers ample opportunity to row at Philadelphia on the former date ani be ready on the day after the University race to row the winner and whatever other crews dare to try. The time is really not far off, and as an op- portunity of meeting so many distinguished foreign oarsmen on our waters will probably never come again in the lifetime of any man now young not a moment should be lost nor a stone left unturned toward having our side represented in that contest as we would like to be. Moreover, as the gentlemen of the Schuyl- kill Navy have doubtless already seen, it will ; afford an admirable opportunity for intro- ducing a feature thus far unknown among our oarsmen—namely, a graduate’s race. In this city alone, what with such good men as Bacon, of Yale; Cornell and Rapallo, of the winning Columbian team of last year; Eustis, of Wesleyan; Gunster, of Williams, and Eldred, of the ‘‘Aggies,"’ a four could be quickly put together which it would be very hard to beat ; while the ground would then exist for inviting not only the Oxford | and Cambridge crews of that year, but doubt- less faster rowers than either—to wit, their | own graduates. Any rowing man can seo in a minute what a field there is here for glorious sport if the opportunity is only promptly seized and improved. Again, besides such good men as the Beaverwycks of Albany and their many rivals of last August, there is in this city abundant material for a brilliant showing among amateurs not college men, Mr. Wood, the gymnast, could quickly select a four from among the best men physically of his acquaintance who could hardly fail to give a good account ot themselves a year trom now if properly coached and trained mean- while, no matter who shonld back up to the | line beside them. But, as we have said, there the stocks which are favorites to-day | and of the others which have been favorites in times past, we find that | | thousands of shares of a rotten steamship company, or a robbed railroad company, or a | company mortgaged four or five times beyond its value, could be sold to greedy operators, while honest, wholesome investments would | be overlooked. The Big Bonanza fever, we fear, is as much an endemic in our financial circles as the ague is in the outlying marsby districts, But the prudent plan is for all | J | prudent business men to avoid alluring stocks | is no time to be lost, and with the example of faithful work now being set them by the eighty-four men who all mean to give a good account of themselves on the morning of July 14 on Saratoga Lake, we have little fear that our amateur oarsmen have the enterprise and pluck which are characteristic of the nation. Tae Havana Voiunterrs have no desire to goto the front, and Count Valmaseda wants twenty-five thousand more men from Spain. ‘Tue Prorosep Menorma or THR CaTHOLIC Panocntat Scnoors with the public schools of the city is a matter of grave public impor- | tance. The Board of Education yesterday appointed a committee to confer with the clerical authorities, and we print the opinions | of several of the Commissioners and the | Superintendent of the Public Schools upon | the subject. respondents in reference to Father Walker's sermon will be tound interesting. The appended views of our cor- | | The work 1s out of print, Desrrrs tax Foncz and disastrous effect of the recent freshets in the Delaware and Susquehanna rivers the danger of furthe misfortune to the people living neat their banks is far from having passed away. In other columns accounts will bi found of the flooding of Port Deposit, Bain. bridge and Marietta yesterday. Ice gorge! have formed along the full length of th« streams which, when o warmer temperaturé shall exist, will inevitably give way and it 18 feared will deal direr destruction on either hand than we have yet recorded. Th¢ weather prophecies which we give this morning, from the usual official source, strengthen and add an alarming reality to this view, and it can only be hoped that precau- tion, actuated by experience and premonition, will secure at least the immunity of human life from the further ravages of the freshets, Tax Tatxep-or Sree on the Third avenue road has not taken place, which is good news for the public who use that important line. It would be too bad if, after we have just got rid of the snow blockade, the cars should be stopped by the drivers. The ques tion of pay is, unfortunately for the poor men, one that ‘soulless corporations’? view only from the side of labor supply and demand. A Coznesronvext calls attention to the fact that General Grant’s term of office will expire on a Sunday, and inquires who will be President in the interval of one day before his successor can be sworn in. We answer that the same contingency has happened be- fore, and that the outgoing President hag always been recognized as in office until the new President was qualified. In a great crisis which rendered the lapse of a single day important the new President might be sworn in ona Sunday. There is nothing to prevent this either in the constitution or the pro. visions of any federal statute. It is a mere matter of convenience and decorum that the oath of a President whose term begins on a Sunday defers taking the oath until the fol- lowing day. PERSONAL INTELLIGENCE, Rev. A. G. Mercer, of Newport, is residing at the Brevoort Hoyse. The Patnams are going to publish the “Anatomy of tne Domestic Cat.” The spelling match excitement isa job; up by the publishers of aictionaries, General Benjamin F. Butler arrived from Waahe ington yesterday at the Fifth Avenue Hotel. Mr. George W. Carleton ts said to have the most fancifully ntted up office of any publisher in this city. Judge Amasa J. Parker, of Albany, arrived in vhis city last evening and is at the Brevoort House, M. Wastmann, Prince Gortschakoft’s a!ter ego in the Russian Foreign Office, has oad a stroke of apoplexy. Lieutenant Commander Frederick Pearson, United States Navy, is quartered at the Fifth Aves nue Hotel. Messrs. Sidney Bartlett ana Richard H. Dana, Jr., of Boston, are among the late arrivals at the Windsor Hotel. Mr. Lucius Crooker, United States Vice Consul at Panama, will sail for his post to-day in the steamship Acapulco. Miss Anna Dickinson will repeat on Sunday night her very interesting lecture, ‘What a Woman Thinks of It.’” Mr. Gladstone 1s writing a new book on mar. riage, with special reference to the alleged sacra- mental character of that institution, Secretary bristow, wno has been complaining for some time of ili heaitn, left Wasnington for New York yesterday to consult eminent meatcal practitioners here. Secretary Fish left Washington for New York yesterday morning, accompanied by Mrs. Fish and nis daughters. No special importance is attached to their movements. Edward King will commence a series of papers on American cities in tne April Scribner, The first paper wil be on Baitimore, which city he calls the Liverpool of America. Senators Jarvis Lord and William Jonnson and Assemblymen James Faulkner, Jr., and F. W. Vos. burgo arrived at the Metropolitan Hotel lass evening from Albany. The company of learned theologians, revising the authorized version of the Bible, lately held their twenty-eightn session in London. ‘ney have now got up to Isatah. If “high mverest means poor security” the French imperialists have but a small chance in the future, as they are now regularly borrowing money to be repaid 1,000 per cent upon the restora- tion of the Empire. Kaulbach’s iiterary remains include an exten- sive correspondence on the subject of bis paint- ings of the Reformation period with Runke, Ollers, Miller and: others. The painter’s sketch. book diary of his first impression of Munich as seen tn 1826 ts also included. Pereire got a little tired of returning the bows of an uncomfortably polite man In his establish. ment, and finally gave the polite man this conun- drum at point biank range:—“Sir, what would become of the hours if the minute hand stopped to bow to the second hand every time they met?” Vice President Henry Wilson arrived at tne Grand Central Hotel from Washington yesterday morning, and leit in the afternoon for Boston. He will return to Washington about the mtdale of next week, and after remaining there for a few days will make a visit to New Urleans and Texas, ‘The chromo “Deacon Jones’s Experience” found its way into the show window ofa religious pub- lishing house in thts city the other day and caused considerable excitement. The chromo and its ac companying poem make no pretensions to piety, and when the head of the firm discovered its whereabouts he was not long in getting it out of the way. The explanations in regard to the $1,000 re ported to have been paid to Mr. Curtis for his eulogy of Sumner are satisfactory. 1t was honor. able in Mr. Curtis to reruse the money, and the intention of the committee to give hima bust of the great subject of the eulogy, to be paid for with the money declined, was at once delicate and handsome. The Secretary of the Treasury arrived in this city yesterday evening jrom Washington and went to the Fifth Avenue Hotel. He was accompanied by ex-Supervising Architect A. B. Mullett and one or two other personal friends. The visit o; the Secretary had nothing of an official character, A consultation with his physician in regard to ao affection of the throat was the reason given for this visit to New York, and Jast evening Mr. Bristow, accompanied by bis party, visited the Fifth Ave nuo Theatre to see the “Big Bonanza,” Rergamo, the city tn which Donizetti was born and died, has resolved to remove the bones of the great composer irom their extramural place of in. terment to the Church of St, Maria Maggiore, and deposit them at the base of the magnificent mar. ble monument executed some years ago in nig honor by the sculptor Vela. The ceremony will take place next autumn, and many of the most distingaisned artists of Italy and other couniries Will assist at the solemn funeral mags and the suc ceeding musical festival to be colevrated at Ber. gamo. FE. P, Datton & Co., of this city, have forsale # copy of the history of the campaign in Egypt, pre. pared under the direction of tne first Napoleon, and there are but two other coptes in this coantry, The work was pu shed by the French government, and consists of twenty+two volumes—eight of text, eleven or Pid tures and three of maps, It 18 most claburateiy gotten up, and cost at time of publication $2.90, Datton & Co., however, do not wsk more thana all got , quarter of that price,