The New York Herald Newspaper, January 2, 1879, Page 3

NEW YORK HERALD, THURSDAY, JANUARY 2, THE PRECIOUS METALS Theories as to the Cause of the Rich De- posit in the Comstock Lode, “HORSES” AND “WILDCATS.” How Panics Are Created in Mining Stocks. DIAGRAM OF THE WORKINGS Patient Searches in the Depths for the Bonanza Prizes. PRODUCTS, ASSESSMENTS, DIVIDENDS. Vinarnta Crry, Nev., Dec. 23, 1878, Some eminent geologists affirm that the ore bodies in fissures are formed by the igneous gases produced by internal heat coming from the centre of the earth, while other geologists, equally learned and studious, hold that the fissures were filled in some way from above. Another theory is that all metals in their natural state, and all the other substances which go to form a productive ore body, are held in solution in the rocks and are concentrated by electro-magnetic currents which are supposed to be continually pass- ing from tie South to the North Pole and are called polar currents, COMPOSITION OF THE VEIN—THE HORSES.” The Comstock lode is what is called ‘‘a true fissure vein,” filled by chemical processes with matter differ- ing in nature from the common rock of the country, or what is usually termed in mining parlance “‘coun- try rock.” On the west side of the fissure Mount Davidson is a huge mass of diorite, hard and almost impenetrable. This is termed the “west wall’ of the Comstock. The “east wall,” or that which encloses the vein on the east, is porphylite. ‘The vein matter proper is very varied in character— ajumbled mass of quartz, clay and porphyry, the latter largely predominating, and fragments of the country rock which in course of violent convulsions got broken off from both walls and mixed up with the vein matter and comes into sight occasionally, to the disgust of the miner and the constertiation of stockholders, These fragments of country rock were named by the Cornish miners “horses,” translated, Wobabdly, from earlier Spanish miners. Falling into the fissure, as the larger fragments must have done, hear the surface during the violent shaking of this portion of the globe, the “horses” constituted about five-sixths of the upper portion of the Com- stock lode. In the depths of the vein smaller frag- ments of this country rock found a lodgement, and these are the “horses” which now and again so dis- turb the stock markets and bring about the panics. The numerous large “horses” discovered by the “prospector twenty years ago on the surface gave hin no concern, for he could give them a wide berth and sink on the croppings—he had only him- self to please—but the collective body called ® company have no such choice to-day. Their claims are limited for them, staked out to a hair's breadth, and a definite programme for exploration within these limits is laid ont. ‘THE ORIGIN OF A PANIC. With “stock” in the market and the mino’s income and expenditure nearly balanced, or even with an excess of income and paying dividends, the first re- port of the indications of a “horse” in the path of the miners gocs through a stock dealing community ltke the first alurm of a death-dealing plague in the midst of a populous city. Were “horses” anything like each other in size the difliculty could be easily grappled with; but when a “horse” has some time or other been spoken of as a thousand fect in length, and in width and depth proportionate, it is not easy to quiet the nerves of a stockholder who “bought in” fora bonanza, Though this apparition of a “horse” might turn out, after all, to be but “a hump of porphyry,” which a few miners could go through in two or three hours, the damage done is irreparable; the market becomes sensitive, nobody believes the truth when it is told, every one thinks his neighbor a rogue and the stock comes tumbling down like an avalanche. The proud figures, away up in the hundreds, which had taken years to create, are in- stantly wiped out of the “stock list” and are replaced by tens and twenties in a few hours. BOGUS MAPS AND WILDCATS, A large number of maps of the Comstock have been published in the usual course of legitimate business, but many others have been published and scattered all over the country gratuitously, giving the names of thousands of locations of mining properties cov- ering every inch of ground on the breasts of the mountains within sight of this city, and particularly ‘to the east of the Comstock lode. Tho makers of such maps are of course patd in some way by the locators, who desire to see their claims on the map and for the service it is to them in floating “wildcat” stock on the uninitiated. I am assured by the very best authority that of all the thousands of so-called mines named in such maps there are not a score do- ing anything to justify the use of such a name as that of “mine.” It would be but aiding smart men to injure the buyers of stock were the names of such locations published in the Henaxp, and I, therefore, omit tho whole of them—those few that may have some claim to legitimacy and value, as well as those that are notoriously worthless and fraudu- lent. While this is said of the “wildcats” that nevor had any cropping of a vein to justify a location at all, there aro some of the others on the breast of the mountain with promising croppings that justify the sale of stock and the expenditure of money in develop- ing the vein or body of ore that may be traceable from those cropping 1 make this statement broad enough in order— first, that good property may not be injured; second, that tho public may be warned of fraudulent com- panies, and the exhibition of a United States patent covering any piece of surface ground is no evidence either of the presence of ore beneath or the legitimate title to that ore if it were even found there. It is probably true that there is not a large city in the East to-day that is not attacked by fellows trying to «ell mines, parts of mines, organizing companies and | issuing stock, claiming to represent rich locations on the Comstock and pointing to those worthless maps for evidence of their contiguity to the bonanza mines, ANE THERE OTHER VEINS THAN CoMBTOCK? The Comstock mines proper—those that are known to the world as such—are represented on this dia- | gram, drawn specially for this correspondence by the Most reliable civil engineers in the country. These names, together with those mentioned which could not be brought within the compass of the diagram, have clourly defined limitations running north and south, | ‘The Challenge, south of the Lnpcrial, is the smallest | property in ground, having .only forty feet between “end lines,” and the Sierra Nevada is the largest | property in ground, extending 3,600 feet. According | to the ruling,of the courts there is no limitation to these properties, either in an easterly or westerly direction, 80 long as the vein discovered on Mount Davidson can be traced. The theory of the | mine owners, the superintendents and tho fore, | men who work the mines is that th is | but one trite Assure vein on this mountain—the Com: stock—and they, consequently, will claim all the ore iscovered eastward of their croppings, provided the ore discovered i traced to the Comstock fissure, There aro other intelligent geologists and miners who | tonfidently axsert that there are several veins of ore boating quarts separate and distinct from Comstock tnd from each other; consequently companics have beon formed in good faith for the purpose of sinking ‘pon croppings, or where ore was supposed to be, directly east of the old locations of the Comstock. Up to the present time the several vein theorists have ‘but one argument, to which the ono yein theorists te- | FROM THE BELCHER Diagram of the Workings, Showing the Main Vertical and Inclined Shafts, the Ore Bodies Adjacent , Mountains. TO 1879. THE STERRA NEVADA. and BURKE & HAMILTON 943 %o int 3000, CR. POWT, BULLION ‘Beale 1300 ft,to an inch VERTICAL SHAFTS ply that the Sutro Tunnel has penetrated the moun- tain and discovered no vein of ore bearing quartz till the Comstock was struck. Should the argument of the several vein theorists be supplemented by the demonstration of fact it would be of vast benefit to this portion of Nevada; it would give a great impetus to mining, cause a great increase of population and give new and prolonged life to the community. What the old companies can do is known, what their mines may be likely to produce is pretty well estimated; but if new ledges were to be found here would be virgin soil on which new companies could operate, and from which 28 great or greater fortunes could be made as in the past. In brief, there would be a new birth to every- thing; Virginia City would double its population, and towns and hamlets would spring up on the descending mountain receding to the great highway of Western civilization. DIAGRAM OF THE BONANZAS. The interior of a mine is as well known to its management and is as accurately mapped for them as isthe most valuable property on the surface of the carth. There is no guessing of locality, of the direction and character of the work done by the miners. Every inch of ground—good and bad— is known to the management from the notes of the mining engineers and from their own personal obser- vation. The extent of the great ore bodies that have been found on the Comstock is represented on this diagram, as taken from the notes of those engineers, and will give the réader a better idea of the bonanzas than a whole volume of print. The lower portion of the bonanza in the Consolidated Virginia and Cali- fornia is not given, as its extent is not yot known. The vertical shafts as represented here in white lines as sunk from the surface, and the incline shafts in black proceeding from the vertical will awaken some thought of the magnitude of an enterprise that sinks into the ground 2,000 or 3,000 feet in the pur- suit of its daily business; yet this work is but a mere speck compared with what is within the mine and cannot be represented by lines of the finest tracing. When the vertical shaft has been sunk the first hundred feet ‘‘a landing station” is made on each side of the shaft, and from there tunnelling, or “levels,” are cut, both north and south, on the width of the claim, in hopes of striking ore. From these levels, at fifty fect from the sheft, a cross-cut is made cast and west. If in that cross-cut there are any in- dications of ore another parallel cross-cut may be made fifty feet apart; or, if without encouragement, the second and other cross-cuts are made a hundred feet apart all throughout the extent of the levels. If ‘ta seam” of ore is found in either the levels or the cross-cuts it is followed wherever it may lead. In the meantime that this work is being done the shaft is sinking deeper and deeper, new levels are made on every hundred feet, and cross-cuts are made on this level in the same way as before. When a body of ore is “struck,” be it small or large, it is carefuliy “worked,” having the safety of the miners in view. If on the floors of either of these levels there should be the evi- dences of ore ‘a winge,” vertical or incline, will be sunk to the level below, serving the double purpose of following and obtaining the ore and also for in- creasing ventilation. ‘vhe tortuous drifts that are made in following veins of ore, the working of the “stopes,” or bodies of ore, in a mine, if represented on paper would resemble more a confused, tangled up spider’s web, than any other thing I can think of. ‘THY MINES NOT IN ORE. While this diagram exhibits the bonanzas that have been found it also tells of the unproductive labor in by far the largest portion of the lode. The Sierra Nevada, now so prominent, had a small bonanza of gold near the surface, to the amount of about $2,000,000, and then had to pass through a wilderness of troubles and perplexities. The Bullion and the Exchequer have gone down 2,100 feet and have not yet taken out a dollar's worth of ore, while they have expended millions in labor, machinery and liti- gation. The Union and Mexican are also on the list as non-producers of ore, yet the Union stands at this writing at the head of the stock list. Moxican has yielded only a mere trifle of bullion, and also stands high on the list. The technical word “sympathy” explains this anomaly. Bullion and Exchequer are between the bonanzas that have been worked out, Union and Mexican are next neighbors to the Ophir and the Sierra Nevada, where new bonanzas are known to be, and from that fact alone, even though they had not their own present flattering “prospects,”* “sympathy” would bear them up. ‘Chose who havo been grandly successful must, naturally, experience # fecling of great satisfaction, yet, with all their dis- couragements, I have failed to observe in those un- rewarded the slightest evidence of weariness. Those also who once had bonanzas and have “worked them out” continue to prospect and develop with unabated vigor and with undiminished confidence in success, THE GREATER THE DEPTH THE RICHER THE OnE. Between the surface and the 1,000 foot level twelve bodies of ore were worked out, yielding 3,520,309 tons of ore of an average of $20 65 per ton and producing $103.425,074 in bullion. The net profit in working these bodies was $22,813,280 in dividends. Between the 1,000 foot level and the 2,000 foot level two great bodies of ore were found—the first in the Belcher and Crown Point and the second in the Consolidated Virginia and California. The former is “worked out” and the latter is still yielding “paying ore.” Up to the Ist of January of the present year these two ore bodies yiclded 2,413,124 tons, averaging $61 50 per ton, and producing $148,466,620 in bullion, The not profit in working these bodies was $84,336,000 in dividends, Theso figures show that while the quantity of ore extracted between the 1,000 foot and 2,000 foot levela was 1,107,185 tons less than the amount which tho lode yielded between the surface and the 1,000 foot level, the total production of the lower section of the lode was $45,041,555 in excess of the upper section, and the net profit realized from the working of these ores was $61,522, or 400 per cont greater than that yielded by the upper portion of the fissure, CONFIDENCE IN THE FUTURR. ‘That large bodies of ore will be found at greater dopths than yet attained is a general conviction here, and the unproductive labor on any portion of the lode, now or at any time, is to the mining mind only the farmer's winter preceding the coming harvest, | The Comstock at no period of its history ever had the confidence of the people as it has to-day—a confi- dence begotten of educated experience. Everybody is sanguine, and the most common expression heard in tho country is that “mining has just begun.” ‘To others this might seem the very hazard of gambling; to the Comstock miner it is a legitimate enterprise, less hazardous than the commerce of the seas, The conviction with him that large bodies of ore are in the mountains, and that he can reach them overshadows every other thouuht and be enters uvon si | 7l0 oe 615 : | CON.VAy oo | 876 | aL. | SrminEKIcAN| Union INCLINED omarrs| Ca his work with enthusiasm and looks forward to success with an unyielding faith which reaches to the sublime. The following tables show the products of the mines, their assessments and dividends. companies do not make their annual statements on the same date there can be no such thing as absolute correctness of figures at any given time. As the These tables have been, however, prepared with great care, and represent what was known on the Ist of January of the present year:— REVIEW OF THE PRODUCTION OF THE Tons of — Ave- 01 rage. Consolidated Virginia, Best & Belcher. Gould & Curry Savage Hale & Norcross. Chollar Potosi. Bullion. Exchequ Alphi Imperial. 726,278 Yellow Jac vee 466,480 Kentuck... oo 131,883 42 Crown Point. 793,636 oo Belcher. 73 50. 20 49 Overman. 110,669 14 26 Caledonia, 16,613 12 59 ‘MINES. Total Product, No record, 3, 3,403 1,587 212,761 Total, 22 mines 5,932,483 $42 50 $ ASSESSMENTS COLLECTED AND DIVIDENDS PAID. $2,000,000 Sierra Nevada 10,000,000 Union. 10,000,000 Mexican... 10,800,000 Ophir. 10,800,000 54,000,000 54,000,000 10,800,000, 10,800,000 Savage Goeva 11,200,000 Hale & Norcross... 11,200,000 Chollar Potosi...... 2,800,000 Bullion, . 10,000,000 Exchequer. 5 10,000,000 Alpha. a 3,000,000 Imperial, . 50,000,000 Yellow Jacket. . 12,000,000 Kentuck.. : 3,000,009, Crown Point. 10,000,000, Belcher. 10,400,009, Segregat 640,000 Overman. 3,840,000 Caledonia. 10,000,000 $321,280,000 Assessments, $600,000 1,950,000 310,000 217,400 3,136,000, None, 474,600 Utah...... Consolidated Vi Best & Belcher. Gould & Curry Savage.. Hale & Norcross... Chollar Potosi. Bullion... Exchequer. Alpha. Imperial. .: Yellow Jacke Kentuck.. Segregated Belcher Overman. As the Consolidated Virginia and the California have pre-eminently won the title of “the Bonanza Mines,” it is interesting to add that tho first bar of bullion from the first named was “run out" October 18, 1873, and on November 30, 1878, the total product of the mine has been $60,65' with deeper than in the Virginia. 100,000 100,000 30,000 500,000 120,000 30,000 100,000 104,000 6,400 400 100,000 28, 10114 53 151,936,703, No. Feet, Capital Stock, No.Shares, 20,000 100,000 100,000 108,000 108,000 540,000 540,000 108,000 108,000 112,000 112,000 ‘one. 1,394,400 28,520,000 40,500,000 None. 8,826,800 4,460,000 1,598,000 8,081,080 None. None. 5 $4. As will be seen on the diagram, the ore body in the California was met ‘The first bar of bullion from the California was “run out” April 8, 1876, and up to November 30, 1878—a little over thirty months—the mine has made the astonishing yield of $42,431,901 64. Both mines together, $108,039,127 48. THE “BONANZA KINGS" IN CONTROL. Where there is such an abundance of wealth as is represented in the corporation of Messrs. Mackey, Fair and Flood, it is hardly conceivable that the mines of the Comstock should not be more or less under their control, yet it may startle some to learn tho fact that they manage fifteen mines—namely, Utah, Sierra Nevada, North Consolidated Virginia, Union Consolidated, Mexican, Ophir, California, Con- solidated Virginia, Best & Belcher, Goud & Curry & Norcross, Yellow Jacket, Silver Hill Savage, Hi and Occidental, and to this must be added “the C. & C. Shaft, ‘There are other prominent capitalists on the Pacific who may have a larger amount of the stock of of these companies than have the “bonanza but in the cases alluded to their management has b solicited. With a realization that “there is nothing 80 successful as success,” men of large capital prefer an increase of wealth to big-sounding words added to their names, hence their readiness to place the management of their mining interests in the hands of the bonanza frm. THE PRODU ‘TION OF METALS, San Franctsco, Jan. 1, 1879. Wells, Fargo & Co.'s annual statement of the pre- cious metals produced in the States and Territories west of the Missouri River, ineluding British Colum- bia, and the receipts in San Francisco from the west coast of Mexico during 1878, shows the aggregate silver, as by products to be as follows:—Gold, $38,956, + load, $3,454 than for 1 317,207, uy Of of of $1 being only $21,205 Montana shows nu shows a falling off » yield from the 3 as against $37 000, The total being 7. California shows an in- 2 rr 911,710 for 187 kod increase, ail in silver, Utah of over $2,000,000, but neariy pine kings, n PRECIOUS crease in gold of $2,068,000, but a decrease in silver, & 3,000, N ‘ada shows a total falling $1,000,000 of it is caused by reduced valuation of silver and lead bullion. $1,680,802 less than for 1877 greater, ax tho reps of in localiti covered soon en for that your. tories is as follows: — Locntion, Calitorni: Nevada Oregon . Washington Idaho... Montana, . Ul Arizona. Dakota, Mexico (we onde British Columbia. ... ‘Tho bullion from Comstock cont of gold and 65 per cent of silver. Although Colorado shows he yield has been really ts for 1877 dupiteated the product . but the duplication was n igh to be corrected in the stat ne production by Siates and Lerri- lise it Amount, of the $18,020,461 = “ BONANZA OR HIGH gg GRADE ORE ees called base bullion from Nevada 30 per cent was gold. Of the whole product of the State 35 per cent was gold. Itis probable that the yield of gold and Silver from all sourees named for 1879 will not greatly exceed $70,000,000, FAILURES IN 1878. AN INCREASE OVER THE NUMBER REPORTED FOR THE PREVIOUS YEAR—NEARLY SIXTY-FOUR MILLION DOLLARS LIABILITIES—EFFECT OF TUE REPEAL OF THE BANKRUPT LAW. Nine hundred and seventeen failures were reported in this city during the year 1878, the liabilities amounting to $63,958,403, while the assets were valued at $18,695,531. ‘This is an inerease over the Year 1877, the total failures for which were 847, with liabilities of $51,687,000, The repeal of the Bank- rupt law was the principal cause of the increase in the number of failures, and since August there has been a gradual decrease both in number and amount of indebtedness in the various trades, so that in the main the record, though very large, indicates that the turning point has been reached and that business is inamuch better condition than a year ago. Mer- chants are looking more carefully after their credits and the weak firms are gradually being weeded out. This has been necessitated by the assignment laws which permit preferences, and two-thirds of the firms who make assignments have taken advantage to prefer their relatives and friends, leaving the general creditors scarcely anything in the way of @ dividend. ‘The record of the year shows that many old established firms which were regarded as perfectly solvent were sud- denly compelled to suspend. Among these were Booth & Edgar, Joseph Foulke's Sons, B. L. Solomon & Sons, Henry Lawrence & Sons, Olyphant & Co., Joel Hayden & Co., J. L. Adams & Co., John F, Henry, Curran & Co.; Youngs, Smith & Co.; James Reid & Co., J. ©. Dayton & Co., A. M. & BR. Davies, New York Belting and Packing Company, Slote, Woodman & Co. and Bryce & Smith. In amount of liabilities carpenters and builders have suffered the most, thirty-four failures being re- corded, with liabilities amounting to $9,246,352 aud assets $223,224, The most prominent were John McCool, Cockerill & Spaulding, Terence Farie; James Fettretch, Samuel Lynch and James E. Co- burn. Forty bankers and stock brokers failed, with aggre- gate liubilities of $4,929,801 and assets $559,073, Among the prominent firms were §. M. Mills & Co. J. R. Cecil & Co., Greenleaf, Norris & Co., Davidson & Jones and Hoar & Co. In the liquor trade there were forty failures re- ported, in which the indebtedness amounted to $1,958,251 and assets $475,569, Among the wholesale dealers who suspended were Bryce & Smith, J. C. Dayton & Co., Bayard & Perrenoud and James Reid & Co. AMONG MANUFACTURERS. Manufacturers have felt the effects of hard times snd during the year thirty-nine failed, the total lia- Dilities being $2,829,104 and assets $2,655 boot and shoo trade had thirty-nine failure: which the total liabilities were $2,159,599 and assets $792,180, Among the failures were those of Whitney & Co., W. A. Ransom & Co., Pow Gaston & Co., and Cammeyer & Nason. In the ciothing trade many failures have occurred recently, whic creased the number for the year to twenty-six, the aggregate liabilities being © $895,089 and $574, Thirty-eight grocers tailed, having ties amounting to $1,071,575 and assets $438,865, the principal firms being J. L. Adams & Co. and Leggett. In the hat trade there were twe: tau the liabilities be: $1,453,000 and $541,065 Among these hial Read & Co, seph Merey & C E senbury. “Twenty-six dealers in goods f Jo- and Hunt & Du- LOW GRADE ORE aT and assets $12 iz those of Olyphant & Co. Among the professionals who ay the bencfit of the Bank lawyers, who owed $5: the largest failures nd Joseph Stmer, Jed thempelves of pt act were seven: 5 and had assots $42,216; eight physicians, whose debts aggregated $304,260 and assets £104,700; two editors, who owed $289,114 and no assets; two ministers, with debts to tho amount of $99,000 and no assets; two actors, having debts amounting to $75,000 and assets $450; a Police Commissioner, a State Senator and two ex-judges. RECAPITULATION, ‘The following table embraces the number of fail- ures in each trade during the past six months, to- gether with the total liabilities and assets: Business, No. Liabilities, Auctioneers . 5 Bakers. 5 Banks «= 2 Bankers and stock brokers. 40 Booksellers and publishers, 7 Boots and shoes 39 eee Brokers, agents and com- mixsion ierchants. Butchers Carpenter: Carpets. . Carriages: Cigars... Cirens proprietors. Cloth and woollens Clothing Coal... Contractors... .. 8 Cotton brokers. 5 Dry goods. Fancy goods. Flour and tee: Flowers and fe: 7 Furniture. 19 Furs. 10 Gas tixtu . 3 Gentlemen's furnishing GOO b ec oe ae Glassware and crockery. Grocers Hardware. Hatters... Hostery Hotels and restaurants. House furnishing goods. Tron and metals. Leather.......... Liquors and wines. 475,569 Lumber... 268,887 2,656,917 18,632 Manufacturers Merchant tailors... Millinery........: Paints, glue and varnish. Paper, &c Ministers Physi Provisions. Railroad contractors... Keal estate agents and op rators. Shipping Stables. Woodenware. Miscellaneous... Totals. THE COMPANIES WITH ONE EX- CEPTION, £O FIGHT THE CLAIM. ‘The publication in tho Henan of the will of Wal- ton Dwight, and its peculiar and interesting features, INTERESTED, PREPARING with liabilities to the extent of $810,316 aud assets $348,280, ‘The produce trade had twenty-throo failures, with a total indebtedness of $ 0 and assets 258,042; and in the provision line » Were twenty-four fail- ures, having aggregate liabilities of $505,655 and as- sets $142,4%4. Among the firms which suspended wero Jewell, Harrison & Co., Gould H. Thorp & ( 3. W. Lewis & Go. and L. D, Snell & Twenty ors failed, with Mabilities xtent of $7 and assets $174,688, the firms of Fel- lows, Foerster & Co., Post & Speir, Hamman & Koch and Joseph Bochman & Son. In the dry goods trade there were fourteen failures, the tofal Liabilities being 343 $775,043 and assis 120. HOTEL KEEPERS AND FURNITURE DEALERS. ‘Twenty-two keepers of hotels and restaurants were lied to suspend, having liabilities to the int of $624,744 and essets $57,375. The furni- ‘ade has had nineteen { » With liabilities mount of $ 0 and assets S544,s71, Among the firms which were J.T. Allen &' Co. and James Cochrane, J ‘Twenty-one ¢ amounting to $ nl. Twenty- five brokers, agen chants sus- spended, with liabilities to the amount of $1,718, and assets $. . Seven publishers and booksetlers were forced to suspend, their liabilitics amounting Sand assets $67, Book accounts have proved disastrous to the butchers and eighteen fail- ures are recorded, in which the liabilities wore In the cloth and wool very few failures, only «l, in which the liabilities aggreyate: Wt and assets $313,827. The depression in the al trade ean ten failures, the aggregate liabili- ties being $681,752 and assets $303,723. Among the firms were Walter, Donaldson & Co, and Marston & sons, The failures in the drug trade were nine, the liabilities being $1,606,719 and assets ‘These occurred in the month of Jan ud followed the suspension of LJ, Dunning. J note broker, ith liabilities ‘The largest firms which weut unde but aft ward compromised and resumed, ‘were John Y. Henry, Curran Co.; Day, Hoagland & Stiger and Downer & The season has on very disastrous to fur dealers, an failures I liabilities of $315 Among them were Herzig I and Peter Hogman. The haraware had thirteen failures, the liabilities amounting to $122,170 and assets $184,560, ‘The ivon and metal trate suffered severely, there being eight failures, in which the aggregate liabilities were $4,369,342 and assets $2,007,218. Inthe lumber trade there were sixteen failures, the 1,877 and assets liabilities amounting to Among the firms h suspended wer Adams & Co., Big ler & Co, and J. ©. Cameron & Unly pine mer. chant tailors tailed, their Habilities being $70,122 and assote $15,002, ‘frade in the milline ds line has been considerably depressed, and t » failtres reported, with liabilities of $20M,450 and assets Among th # which failed were b. fravia & Co., A. W. Ketcham & Co, and Andrews & sanford, Eleven dealers in paper failed, their lia- bilities amounting to $169,302 and assets $69,164, Fourteen printers and. stat « failed, with’ liu Dilities Of $324,8H5; assets, #St ilroad © tractors were forced to suspend, having debts to t amount of $1,510,682 and assets $4 operators and agents to. the tailed, having gross liabilities ot $2 M3 and assets $86,600, The largest were John Fettreteh and V. K. Stevenson, Jr. At shipping merchants failed, the liwbilities being $1,401,582 and assets 120, the most prominent firm’ being Joseph Sons, In the straw goods trade there were six failures, in which the liabilities amounted to $680,914 and 381, ng the suspended ty, ©. Lord & Bight manu- ended, with 1 number of thirtee: Henry F, Hilt facturers of suits and skirt bilities to th f Fut In the tobacco (rade th liabilities amounting to $40/ oh. Five dealers in toys fai! having gross liabilities of $513,868 and agsots $120,544, In the tea trade there & Co, has again attracted attention to the source from which its provisions are to be fulfilled—life insur- anc It will be remembered that Colonel Walton Dwight succeeded in insuring his life for $254,000 in August and September last and died in the following November, having paid but one quarterly premium. It was the opinion of many of the insurance com- panies that he purposely shortened his life after effecting the insurance. They now point to the will as an additional evidence of this, It is dated, “Sep- tember,” without the day of the month. Its provi- sions are wholly based upon life insurance and he made it while he was securing policies. Since Mr. Dwight’s death the twenty-one com- panies interested, with two exceptions, have been working industriously to discover whether his ap- plications for insurance were honest. A short time since a meeting of the oftivers and reprosentatives of | the various companies interested was held, and a fund was subscribed to pay the necessary expenses of examining the claims, an agent being appointed to inquire into the facts and report. This report has been submitted, and the following is a synopsis of the document :— THE COMPANIES’ CLAIM. In 1868, when Mr. Dwight was ina prosperous financial condition, Mr. E. O. Goodwin, agent of the New York Mutual Life Insurance Compat od him to take out policies for $100,000 on his lite and assign the same to the city of Binghamton, (o be used in the erection of a Dwight testimonial—« library or # public hall, ‘The idea pleased Colonel Dwight and he filled up his epplications. When asked “Did you ever spit blood?” he replicd in the affirmative, and the agent told him it was no use for him to seek insurance, | Binghamton doctor. Th | he nt we for his fine physique and manly be ps Mr. Goodwin did not see after this conversa. tleman had obtained Mr. ¢ when Mr, Dwight would Kurely be arry him through. A Dwight until two. y 1 by that time the ge $120,000 ineur apon his Hi him to amount, said :—** Hy rejected now, for I Mood spitting within the past three weeks. Dwight then me so Much embarrassed in his | atfuirs that he allowed much of his insurance se, and in some ca took paid-up fp icios, His first application for — insure was on the Isth day of November, —1s63, and in this application he declared that he had never atffered from bronchitis and had never spat blood, His next application was made on the th day of Jannary, 1869 (six weeks after the first), | and in this ap: jon he admitted that s previously he had suffered from a bronchial attec- tion. On the ath of January he applied to the Standard Life Company, and his’ pe yas limited to a term of seven years, and Mr. Dwight learned for the first time that the companies would not accept | him as a first class risk. In August, 1874, Colonel | Dwight applied for over $300,000" worth | of insurance on his life, and in all | ot th applications he dented that — he | had er spat blood or had any bronchial affection. He secured 000 insurance on the quarterly payment plan; but the companies that | were cognizant of the contents of his old applications declined to issue policies, and he, therefore, tailed to obtain the amount of insurance he sought.” As soon t had issued policies heard t Y sent agents to Dwight tend: back the nw ond asking to cancel the poll but Dwight, of course, declined. The United States Lite cancelled lis poliey while the gentleman was living, and notified him of the fact. Dwight, the | report states, wrote a letter to the president of this company, stating that he had suifered from hem- s orrhage, but he did not think that fact amounted to anything. A kG CHANCE FOR TAE LAWYERS, This report the interested companies as Satisfactory evidence that Colonel Dwight obtained if not by fraud, by withholding the knowiedge of his real physical condition. During the past week tae companics have been, they allege, in re ptof various letters from acquaintances of the deceased offering to prove, for a consideration, that Dwight was sutforing from bronchial aifection his insurance, and that deceased od the fact to the would be witnesses. nce, however, 18 hot deemed necessary. ‘The one letter written by Colonel Dwight making the acknowledgment is deemed all sufficient, The Equitable Life is reported as still in_ favor of paying the claim of ovo, the company being in- terested in the estate and deciming the claim a just oue, In the case of the other institutions along legal contest is certain. KNIFE AND PISTOL. A MAN STABBED AND HIS SUPPOSED ASSAILANT SHOT BY AN OFFICER~—SOCIAL CLUB RIVALe RIES. The Nightingale Soci held several hops at Hamilton Park, at “third street and Third avenue, while at the same time the Sylvan Star Social Club was holding a similar entertainment at a hall in Seventy-sitth street, between First avenue and the Boulevard, The patronage of the latter was lessening, and it was determined, so it is said, to bring the hops of the Nightingale Sociay Club into disrepute by cresting a disturbance in the hall on Saturday night, December 21, For this purpose, it is further said, Barney O'Gorman went to Hamilton Park and asted in so disorderly a manner that John Cliterd detern:ined to whip him, Both went out and fought for one hour, but the vic- tory was not decided, The police have seen little of O'Gorman since that time. On New Year's Eve the Sylvan Stars held a ball, but trouble being appre- hended the festivities came to an end shortly after one o'clock. Clifford was among those who stood around the door as the crowd passed out, and he scanned the faces of the assemblage in search of Bare ney O'Gorman. A “SYLVAN STAR!’ WOUNDED. Among the members of the Sylvan Stars there is none who stands higher in the estimation of its number than John McKnight, of No. 209 East Seventy-sixth street, who was present at the ball with two lady friends, He docs not look unlike O'Gorman, e: somewhat taller, In coming McKnight was jostled by some one whom he did not recognize at the time. The two ladies passed up Third avenue, but not finding their escort follow- ing them called out to him. He walked briskly toward them, but finding that blood was oozing f his chest called out that he w stabbed. Serg Russell, of the Fifty-ninth s , Was in- formed of the affray and detailed Detective Cornish and Officer Sheils to arrest Clifford, who was thought to be McKuight’s ase: 4 : LOOKING BOR CLIVFORD. When the officers, Cornish and Sheils, got to the corner of Fifty-ninth strect and Third avenue they met Roundsmsun Martin aud Officer Hickey. Fearing trouble and the probable rescue of Clifford it was deemed necessary to tke precautions. They first went to No.1 Third avenue, where Clitford was known to r d there, and the ofiicers next went to the 1 ot his father, which is perched on an embankment above the Third Avenue horse car stables. The police surrounded the house, while Detective Cornish went in and ques- tioned the father as the whereabouts of Lis son, Tha man replied that he was to be found at a Mr. King’s shanty, nearer Third avenue. - ‘To that place the officers repaired, and the door of this shanty, not being unlatched soon enough, they broke it open. The startled occupants looked out of the window, and, to Officer Cornish's questions, Mrs, King replied that she did not know where Clifford was, at the same time requesting the police to coma in and look for him. ‘They did so, with the excep- tion of Officer Hickey, who stood guard at the rear ept that the latter is down the steps of the house. He says that, as he stood there, he saw Clifford at the rear window xbout to jump down and escape, when he told him not to do so. He then saw him attempting to get out of the stable door, und asked him to surrender. Instead of doing so he rushed past the officer toward Third avenue. Officer Hickey called to him as he passed along the boulders and rocks to stop, or be would fire. He persisted in his course, however, tll the sharp report of the officer’s pistol was heard, Clifford cried “am shot," and rolled down the steep cuibankwent. The other officers in front of the Louse came to the assistance Hickey wud took the wounded man to the venty-eighth precinct station house, where he was identified by McKnight, who lay in the station while Clifford was being captured. THE PRINCIPALS IN THE APPRAYS., Clifford is known as a hard character to the police, and has lately given them considerable trouble, When Officer Woods, of the Twenty-eighth precinct, arrested “Sleepy Nick” for burwlaty Clifford picked up 4 blecksmith’s hammer 2nd, it is said, attempted to kill the policeman. The prisoner was rescued and Clifford bas been “wanted” ever since. He was sent to the Penitentiary in August last for attacking a man and was freed about election time. He lay in the Roosevelt Hospitul yesterday while the surgeon probed for the bail. it was found to have entered between the shoulders and was extracted from hia chest. Surgeon Clay cannot tell at present whether Clifford will live or die, his wound is very bad. MeKnight is but little known to the police. He has been in the Penitentiary, it is said, but for a ort time. It is not expected that he will die. Officer Hickey is sa to be a capable and effeient: officer. He was a Contral Ofice detective and went to the T zhth preciuct some months ago. He picked up Philip Marks, who was assaulted by “Billy” McGlory, and has done good work siuce his coming to the precinct. A BOLD BURGLARY. THE HOUSE OF A POSTMASTER ENTERED AND VALUABLE PROPERTY CARRIED OFF WHILE THE INMATES WERE ASLEEP, The residence of Mr. Luke Flect, of Mincola, L, L, postmaster of tho village, was robbed on Tuesday night by burglars. ‘They effected an entrance by the first floor window, which is about four feet above the ground. A beach stood under the east room window, which room was unoceupied, and on this bench the burglars stood to effect entrance. Mr, and Mrs. Fleet siept in the room ad ning this one, to the west. e thieves had ne difficulty in eifecting an entrance. The slatted blinds yielded readily and it was only ne- cessary to raise the window. The room had been occupied the night before, und during Tues day the window was opened to air it, and the person who closed it failed to placo the fastening in poste When the thieves landed in the sitting room they found the door of Mr, Yleet’s room wide open and saw that limself and wife were sleeping soundly. They cntered his room aud removed his clothing to the yard, where they ritied the pockets ant left “such articles as the; thought not worth carrying off. ‘They ‘opened and ransacked the drawers ot the bureau in Mr, Fleet's room, and he and his wife slept through the whole of Mr. Fleet does not think they were placed under the influence of chloroform. There waa © house, and the thieves n which they carried, ag » found ov the bed and no light in that part « evidently broke the 1a pieces of smoked glass floor of the room through which they entered, ja that room were imauy articles of jewelry, handkerchiefs and collars belonging to Miss Fleet, all of which thieves carried off, the presenee of #0 ay burned matches on the floors it ix believed that the thieves lighted them- selves about the house with them. From Mr. Fleet's rooin they took two watohes—his own and his wife's—with the chains, valued at $325 by Mr. Vieet, as they had cost bim that eum. They of his clothing, including his boots and & The window in Mr, Fleet's room was open about six itches, but it had been left fo by himsei Tho thieves also got possession of the keys of his safe, which stands in the store, and. carried them away, but made no attempt to open the sate, in which $200 were deposited. The thieves passed from theso apartments through a narrow hall or sort of coat room to the main hall leading into the Mr. Fleet’s son and opping burned mate! es did not go wp stairs, occupied by the young gentieman and J watches and rings and some diamonds, stontered his room wntil half. } ing, and itis thought that the thieves entored the house about an hour later, way The family must all have slept soundly, as there was a negro hop not tar off which created noise enon to disturb the neighborhood. The thieves evidently understood the interior arranges ment of the house. While they had two ways of egress when in the main chose to retrace their steps and leay y thoy entered, PAT RSON'S GHOST, The “ghost” which has beon frightening the ped. ple of the old Ninth ward, Paterson, N. J., for several nights past was, on Tue morning, about one o'clock, encountered by William Augustus Fonda, a prominent lawyer of that city, who followed the ap- parition up Holedon avenue for a considerable dim tance until it suddenly disappeared—he (Mr. Fonda) could not tell where, It is now clearly ascertained that the “figure’ comes down from Holedon, asuburd of Paterson, through the its height and pearance, it is thought not wnlikely that it is the “wild man of Preakness Moun- tain” Imasqueradiug in women's costume. This man, by name Solomon Rosenstein, a Swede, and originally from this city, had been lost sight of at his usual haunts for some time, until recently he appeared in the vicinity of Holedon, where he has beow seen by sevoral versons aud fully