Omaha Daily Bee Newspaper, May 29, 1884, Page 7

OMAHA DAIL ere— COUNCIL BLUFFS, ADDITIONAL LOCAL NEWS, THE BROKEN BANK. _|The Cause Leading o the Failaro Denison, BH.STOCKERT & CO MANUFACTURERS ( FINEPARLOR FURNITURE| CARPETS, CURTAINS, WINDOW FIXTURES, and RHPAIRING Intorior Dooorntiox‘\u anda Uy & COUNCIL BLUFFS NO. 309 BROADWAY - . y ! D. A BENEDICT, Sianriter, Grainer and FreseoPainter) ~- The farlure of the Crawfor unty Office No. 337 W Broadway, Council Bluffs, Tho f the € | fy bank, at }Denison, has already beon an a Creditors, ® Special Prices for the next ten davs OSTRICH PLUMES AND TIPS, MRS. J. NORKIS, 105 S. Main Street, nounced by Tk Brk, but a good many fresh dotailsaro learned from the Bullotin It appears by Mr. Heflelfingor's state ment that the liabilitics are £58,202,55, and the assets are 60,804 17, of which $13,000 is in real estate and personal property, £3,62: cash, bills receivable, £11,57 m government bonds, and 87,561.86 in accounts receiy able. It is thought that the depositors wil leealize 75 cents on the dollar. CAUSES OF THE FATLUR Mr. Heflolfinger, president of the bank, concedes that he was doing business on insuflicient capital, but that the institu. tion was in a better condition than at various times heretofore, and might have continued but for the circulation of malicious rumors affecting its stand Not long since Mr. H. reported his stand- ing to an agent of Bradstreet's Commer- cial Agency, giving as assets real estate and other property not regarded as bank ing capital by the agency. His bank was thereupon reported in bad condition. This led to local inquiries as to his finan- cial condition, and to an attempt on his part to transfer his interests to men of means in Denison, to the end that confi dence v t be restored and the business continued without interruption He learned however, that numerous depositors had boen secrotly notified as to the bank’s condition and a *‘run” in- vited for Saturday that would have ex- hausted all available funds and invited suspension, with affairs in a much worse condition. Therefore he refused to open the bank Saturday. He had not enough cash to withstand the whirlwind that fol- lows a lossof confidence in a bank. He denies investing bank funds in any prop- erty save a little real estate which has doubled in value and now figures as assots. He exprosses his determination to pay & hundred cents on the dollar and believes he can do so, but will require a little time. THE FAILU! 3 VIEWED BY OTHERS, That Mr. Heffelfinger was doing busi- ness on too small capital is evident. It appears that his ready funds were largely exhausted in building and furnishing the bank, and he used deposits to purchase r. Wahl's ftwo-thirds interest, to Spur- chase aud improve real estate and "per- haps incidentally for family uses, which together with bad paper, long time notes and over drafts threw him many thous- and dollars behind in ready assets and wholly unprepared him to meet the de- mands of a ‘‘run.” It is apparent that while Mr. Heffel- finger may not have anticipated being en- gulfed by a tidal wave, he was doing bus- iness more on confidence than on capital and was not only resting on a financial volcano himself, but wus constantly leading innocent depositors to the mouth of the crater. He should have known the condition of his business, and know- ing it he should have fertified his depos- itors against loss, regardless of the ex- penso to himself. PRFERED CREDITORS, Mr. H. is not so severely censured for failing as for preferring his creditors, several depositors having secured their money in full after the bank had practic- ally failed. Nonecan be blamed for secur- ing their deposits if possible, it was Mr, Heffelfinger's duty tosee that all de- positors suffered “‘pot-luck” togother. Respecting the mianight examination of books, we learn thoe following from Mr. L. M. Shaw, which is corroborated by his brother, D. W. Shaw, and Mr. H. C. Lamb and Mr. J. B, Romans—all of whom were in the bank that night. These parties, with J. A. Miller, intend to as- sociate themselves with the bank and by jointly putting in $40,000 re-cstablish its standing. With this in view the books were examined and the liabilities found too large to warrant the investment of securities in the facs of a prospective run. The bank owed the Shaw brothers £3,000, while Romans had overdrawn his accounts a little morethan that. Against the protest of Heflelfinger, who said his creditors must share alike, the Shaws drew their drafts on the Romans and the latter paid in the balance of the overdraft, thus all three effecting a settlement with the bank. This is, in brief, the state- ment of the partners who kept vigil over the bank ledgers during thesolitary hours of night. GREAT IMPROVE MCEINT T IN ROOFING AND COVERING WALLS. [ VAN PAPPELENDAM PATENT - TILES. Made of Sheet Metal with Pressed Ornaments. .o Leaking, No Cracking or low ing off. Fire I‘\rnoi, (‘h‘m\p and Durable. The Most Ornamental Roof Made. Practically Tested for Nearlv,Ten Years, Wil the Most Gratifying Resulfs. SULLIVAN BROTHERS, Agents Fig. 2—View representing a numbe of 'liles as arranged upon a roof. Fig. 3—Detail sectional view of the same. Fig. 4—One of the Roof Tiles. Fig. 5—Wall Tile, the white part of which is covered by tho one above it, and requires no description. <) SULLIVAN BROTHERS MANUFATURERS OF TIN ROOFING ! SMOKE STACKS, Breechings and General [ron Work, TIN, IRON & SLATE ROOFING, Guttering and General Johhing TERMS REASONABLE, Satisfaction Guaranteed. 109-111 SOUTH SIXTEENTH ST., OMAHA, - NEBRASKA. WAX MEYER & GO0., IMPORTERS OF HAVANA CIGARS! AND JOBBERS OF DOMESTIO CIGARS, TOBACCOS, PIPES S SMOKERS' ARTICLES PROPRIETORS OF THE FOLLOWING CELEBRATED BRANDS: Reina Victorias, Especiales, Roses in 7 Sizes from §60 to $120 per 1000. AND THE FOLLOWING LEADING FIVE CENT CIGARS: Grapes, Thistle, Lawrence Barrett, Caramels. New Stan- dard, Good Advice, New Brick. WE DUPLICATE EASTERN PRICES e ——— Somet & tor Nothing. Until further notice we give to each twentieth customer his purchase, what- ever the price or value of the same may be. Our cashier will keep an accurate record of every transaction and when the twentieth sale of any amount is made the purchaser will be presented with the same. We have adopted for the present this system of advertising because it gives our patrons instead of the newspapers the five per cent. which it costs us, Clothing retailed at wholesale prizes. Hats re- tailed at case prices. Furnishing goods, trunks, bags, umbrellas, etc., etc, Every twentieth customer presented with his purchase, Mercany Bros, —— Keal Estate Transfers, (ar MANUFACTURER OF OF STRIOTLY | I (57.CLABS . 105, Bogies Road War AND TWO WHEEL CARTS. Y1519 aud 1820 Harnoy Strect and 408 8, 18%h Btrest, | omaha- Ne b netrated Oaalorus fu alshel ftens u ron applicatfon i ———————— e 5ot S SO B RNER IMPORTING TAILORS, 1206 Farnam Street. FINE TAILORING AT MODERATE PRICES Without exception we have this spring one of the finest lines of Sprine Woolens EVER SHOWN IN OMAHA, The following transfers were filed May 28, 1884, and reported by P. J, Mc- Mahon, Council Bluffs : Sarrah J. Cramer to Flora C. Cramer, swine}l7 7588 $100. John Hammerand to C, M. Witt, et al, part lot 1, block %, Minden, 8500, J. W. Barnum to Margaret Kelloy, lot 28, block 19, Howard's addition, $125, Total sales £1,075, e Friends of the Homeless, It iy noticed by the Harlan papers that the local association of the Home of the Friendless there met last Friday evening and elected officers, The Harlan associa- tion is quite enthusiastic and one of the points brought forward is the securing of a series of lectures, Similar societies are formol® at Mal- vern, Missour1 Valley, Logan and other points, and as these multiply in numbers and increaso in strength it is hoped that Iumy can arrange mutually for series of lectures, thus reducing the expenscs and insuring success, courses of lectures can thus be secured which will be profitable \r instructive and s well as interesting. These local ontrol their own funds, and attend to their own local charitable work, whilo at the same time they are banded together by the fact that membership in the local charitable anization is conditional on the ndividual being a member of and con tributor to the home of the friendless as | sociation, By this common tie and mu tual interest they are helped and encour wged one by the other and at tho samo tim: s free to look after the needs of tho local work in theit own way. When A large number of these societies are or anizod they can by some mutual ar rangements socure excollent lectures at reduced 1ates, T'he homo has been groatly improv of lute,having been repaperod, & new car- pet bought, ete., and if Rev. (. W. Richey, of Malvern, who lately gave such a complimentary report of his in- spection of the home, should visit it now ho would speak even more highly of 1t than he did before. et The Catholic Festival, Last evening at Martin's skating rink the Catholics opened their festival which will bo continued and concluded this Rofreshments of strawberries, The following programme of colloquies and ovening. cake, ice cream, ete., woro served. farces was given, after which there was dancing: PROGRAMMA WHO SHALL HAVE THE DICTIONARY. rof. Vs Gieo. Dougherty. I'at Goo, Hughes, Hans. Pat MeAtoe, Vits Pote, Hubing. Josh Bat Conors, lwin, Obadiah ) Cecilia Hughos. Miss Pomkin, ... Miss_Bazoo by . Ida_Ilughes: HANS SCHMITS TCOMTRN D, Hans I MIMSTRRETS S TIHE WAY TO WINGIAY, Poto Hubing. Jno. Hughes. MeAtee. co. Hughos, Stranger Roy s MUSIC, 4 Wi, Buldwin, WEFORE AND BEHIND 1118 SCENES Hughes. Hughes, MceAtee, Song John Jones. scelia Hughos. . Miko . Bat Conors Tans W, Daldwin. Doctor (oo, Dougherty, AN ENGLISH TRAVELE) Oholohon Stranger . Hughes, .. Pat McAteo. Music. NO SUCH WORD AS FAIL. Drummer, oo, Dougherty. Pouncer T W, Baldwin. Miko Geo. Hughos, Judy Tda Hughes, Tim Flahorty . HOW SIE NADE NI ¥ Peggy Jane. . Tank neeumi Geo, Hughes, 08K, lin Hughes. Pat MeAteo, TOO GREEDY LY HALF Ted .... Hughos, Dentist Pat MoAtos, Patic .. Poto Hubing. This evening the festival will continue, and there will be in connection with it a grand ball, — Shiy s of Stock, The shipment of stock from the Union stock yards yesterday wero as follows: Tuller & Miller, one car of hogs, 55 head. to Chicago via. Mil, McCausland, cight cars cattlo, 320 hoad, to Valentine, Nob, via N, W- G. Smith, ono , Neb., ' via U P, F."Taylor, ono car horses, 13 head, to i vin U, P, A, Crozier, thirty-threo_cars cattlo, 860 hoad, to Valontine via N, W, Sterling & Co., twenty cara cattlo, 800 hoad. to Cheyenno via U. P, J. L. Oakes, eight cars cattlo, 250 head, to Hatchery, Neb., via U, P. Swan Tron. alght casa cattle, 140 head, to Cheyenno via U. P, L. W. Carmour, four cars cattlo, 120 head, to Plum Creek via U. P, 11, Adams, fifteen cars cattlo, 420 head, to Choyenne via U. P. 0. Brown & Co., one cor hogs, 63 head, to Chicago via It 1, And the sanie partios, ‘one car hops, 57 head, to Chicago via th Mil- wanke S W r steors, 15 head, to ns, two cars hogs, 244 head, to i1 Clifcag ik G. W. Wesner, two cars ogs, 116 head, to Chicago via the Milwaukes, J. . Kinney, ono car cattle, 81 head, to Antolope via U. I, e — Shorifl Herbert, of Audubon county, arrived here last ovening from City, having in charge Tom Brecken- ridge, who is wanted in Audubon for ex- tensive forgery. Ho found his man in SToux City yestorday, and will keep him in the county jail here until this morning. Breckenridge 18 quite a notorious char- ter. Sioux Rt COMMEROIAL, QOUNOIL BLUFIS MARKRT, i w80; No, 3 yrn—Local purposes, 40@45, Oats—For local purposes, 3540, Hay—810 00@12 00 per ton Rye—40@! Corn Meal—1 25 per 100 pounds, Wood—Good supply; prices at yards, 6 00@ 700, Coal—Delivered, hard, 11 50 per ton; soft, 500 per ton Lard—Fairbank's, wholesaling at 9)c, Flour—City four, 1 60@3 30, Brooms—2 95@3 00 per doz, LIVE BTOCK, Cattlo—Butcher cows 4 00@4 50, stoers 4 S0@H 00, Hogs-4 @4 PROD Quotations by J. M minsion merchants, Butter— Creamer; Eggs—124c per Poultry—Reandy salo; live, 9ci turkeys, dressed, 1ic; Ducks, dressed, 124e; live, 8e, Oranges—4 00@4 50 per box. Lemons—3 60@4 00 per box, Bananas-—2 H0@3 50 per bunch Strawberries —24 quart case 4 00; Vegotablos —Potatoes, 85@40; onions, 75c; cabbage, 4 cents per pound; apples, ready sale at 3 26@4 00 for prime stock; Beans, 1 50 @?2 25 per bushel. Butcher AND ¥RUITS, 8t, John & Co,, com- B live, An Inprovement for Cable Roads, Sun Francisco Call, A mechanical engineer of this city has invented and patented a plan for dis- pensing with the necessity of depressions in the street road at points where cable roads intersect each other. At present when a car is approaching the crossing of another cable road, the man in charge of the dummy that is drawn by the under cable has to let it go some distance be- fore he arrives at the crossing, and take it up again at the same distance on the other side, As this distance is too far for the car and dummy to be carried by their own momentum, a depression in the grade has been made to accelerate their movement after the cable is dropped suflicient to carry them to the point be- yond where it is to be picked up again, The invention referred to enables the man at the grip to hold on to the cable until the car is so near the intersecting road that its momentum will carry it to i where the grip can seize its hold™ again, without interfering at all with the grade of the street, BEE-THURSDAY, MAY 20, 1884 7 JUn/ A Talk with the OId ebel Cavalry Leader About Southiern Politics, Atlantic Constitution, T'he Constitution man summoned his walking-mateh legs to his aid and over took the gray old General just as he had snugly ensconod himsolf in” soat of the Pullman car, The introduction was im formal and oasy,and the conversation was pleasant and unreserved. Gen. Early was on his return to his home n Lynch burg from Now Orleans, and was evident ly glad to got away from the heat and turmoil of the great city. When asked whether ho interested himsolf in the political situation, he re- plied *‘Not more than as a more spectator, In Virginia we begin to {col that we are safo, and the Democrats will henceforth control our aflairs. “*You think, then, that Mahon has lost his power(" “Yes, ldon't think ho can again rally his followers. His power is gone and 1 do not anticipate any further irouble from him, and ho has 1o legiti- mate successor who needs to be dreaded.” “How will Virgiania stand m the De- mocratic National Convention{” 1 am not well enough informed just now to say. So some of our delegates aro Bayard mon, and Bayard has o strong following among the Democrats in Vir- ginia, I should like to see him nomina- ted,” “Do you think he is the most available man we have!" “Ido. 1 do not understand this apar- ent uprising for the old ticket, The timo to have made that issue was in 1880, and wo voluntarily abandoned it. Now we must go before the country on new issues of practical importance to the peo- plo. Bayard is the represenative of pure statesmanship, of honest admistration and of sound business principles, 1 be- lieve he as strong in New York as Tilden would bo now, and if nominated, he, | think, would be electod vasily and by a decisive majority. Still, Tilden is nom- inated. 1 hope and believe ho will be clocted. I prefer, however, the youngos man,” In further conversation the name of Gon. Longstreet was rofered to, and Gen. Barly asked: “*What has bocomo of Longstreets new party?’ The reporter could only say where it had last beon seon and which way it was going. “Well, T thought that was a queer proceeding for Longstroot. 1 had never beforo heard of him as a Whig. 1 thought it was a shrewd attempt on his part to draw away from the Democratic party enough of old lino Whigs to make a party that would make the negro vote a power in Georgia, 1 am glad to_know that there is no prospect of succeedi that divection, Kvery instinct of a gon- uine old line Whig is contrary to such a condition. In Virginia they were the men who brought about the downfall of Mahon to cscape taxation and the pay- ment of the debt.” When asked what progress was being mado toward securing the proposed home for disabled Confederate soldiers at Rich- mond, Gen, Early said: I know nothing about it excopt what I have seen in the press. It may be a good thing in the eyes of some but I do not think it is. If there is any great dis- tress among the old soldiers 1 have never heard of it. In every case that has come under my observation the fellow who was asking for help was a natural dead-beat, and no amount of help would do him any good. Besides, 1 don't like tho idea of this sort of charity coming from the North. If Icould take it away from them by force and as a reprisal 1 would do it; but as to take it as alms—1 don’t believe any honest Confederate soldier will do it.” Gen. Karly thinks the South is in ex- cellent condition and that she has a glorious future in agricultural develop- ment and industrinl pursuits. He be- lieves that our manufacturing industries will increase until the bulk of our raw material will be manufactured at homo and the profits go to the enrichment of those who are entitled to them. Gen. Early was grected warmly by soveral of his cld soldiers who learned of his presence and recognized him. The oceasion was very interesting to both the old commander and the veterans, | — Governments Fighting Oh ap K Chicago Nows, The industrirl world is rapidly passing into an era of cheapness, but neither the landlords nor the manufacturing lords will have it if they can possibly provent it. In England the landlords long fought against cheap grain, but the congumers beat them in the end, They are now fighting against cheap meat, on the pre- tense that foreign cattlo are diseased. In 6o doing, bowever, they are fighting against their own intorcsts, for it is far botter for them to allow live cattle to bo brought into England and there fatted than to finally suc b to the influx of dead meat from America ond the antipo- des, out of which they can make no proflt whatever. But England is far in advance of the continent of Kurope on the question of freedom of trade. TIn the latter the ten- dency is toward restriction, in the face of the fact that consumers are everywhero complaining of bad trade and duli times, In France a remarkable contest is going forward botween the agriculturists in the rural districts and che consumers in the manufacturing centers. The consum- ers ure suffering from want of employ- i| ment; the agriculturalists on account of competition of grain grown in India, America, and Australia, The govern. ment, dopending as it does for support upon the agriculture interest as against the prolotariat of the great cities, a late cablegram says, purposcs to increase the duties on cereals and cattle, In view of this the journals in the interest of the manufacturers and artisans demand that if those duties are increascd there should be 4 corresponding increase i the tarift on manufactured articles, The anomaly of the situation in France is that, while the government is paying enormous beunties in order to encourage France competition inthe ocean carrying trade with one hand, with the other it is passing acts tending to make these boun- ties of no effect to France; for, to the ex- tent that the bounties encourage the im- port of the raw materials of manufacture and the necessaries of life, to the same extent the government steps in and raises the imposts upon those materials and necessaries. The anomaly of the situation the world over is that, while science and invention are fighting for the people in order to give wider scope to their enorgies, to extend the sphere of their labors, and to charpen their means of living, nearly all the governments of the world’ are vainly endeavoring to put up barriers against a beneficient movement one which is abso lutely necessary to uot only the well be- ing but the very existance of humanity. ——— e Tt THE CHEAPEST PLACE 1IN OMAHA TO BUY FoU=RNel=Tol=ReE s DEWEY & W Nl b STONE'S, One of the Best and largest Stocks in the United States to select from. NO STAIRS TO CLIMB, ELEGANT SOUTH PASSENGER ELEVATOR, OMAHA, Fine Healthy FOR ThE RETIRED AND THE Homes, hICH AND POOR INVALID Pure Spring Water Ralroads, Street Cars and Cable Lines Will bring them from their homes to the Opera Iouse, Postoffice, Hotels and Depots in TEIN MINUTHEHS, Giving them the advantage of living on the suburban heights, with pure air, beautiful shade trees and STUNMMIEIR : Parks. pure Spring Water and Lakes, Groves and Scenery magnificent, which cannot be equalled. This is a RESOIRIT AND A PARADISE FOR ALL, RIGHT AT HOME. The Syndicate have arranged with with the railroad companies for a fine, attractive depot, where trains of the following roads will connect and stop: The Omaha Belt Line Railroad Line, The Union Pa ific Rail way. The Missouri Pacific Railway, The Omaha and Republican Valley Railr at the depot at the town site. d, The Burlington and Missouri River Railroad in Nebraska and the Chicago, Burlington and Quincy Railroad. Also at the Stock Yards. All these trains will stop Beautiful trees have been set out on the property and streets laid out. LOTS ARE NOW ON SALE AT LOW PRICES & EASY TERMS. 0%~ Apply at the Company’s office, cor. of 18th and Douglas streets, M A. UPTON, over the Omaha Saving’s Bank. Assistant Secretary, ST, LOUIS PAPER WAREROUSE. Graham Paper Co., 217 and 219 North Main 8t., 8t. Louls, WHOLESALE DEALERS IN v} PAPERS,{Wiliive ENVELOPES,,CAED BOARD AND FRINTER’S STOCK e Cash onld for Ragn of ol * Nebraska Cornice ~AND~— Ornamental - Works MANUFACTURERS OF GALVANIZED IRON CORNICES Dormor Windows, FINIALS, WINDOW CAPS, TIN, IRON AND SLATE ROOFING, PATENT METALIC BKYLIGHT, Ilron Fencing! Crotings, Dalustrades, Verandas, Ofce and Bapk Rallings, Window and Cellar Guards, Fte. OR 0. ANDEtn STREET, LINCOLN NEB. Northgast Nebraska ALONG THE LINE OF THE Chicago, St Paul, Minngapolls and OMAHA RAILWAY. M’rn« now extenion of this line trom Wakfleld up o BEAUTIFUL VALLEY of the GAN through Concord and Colerldge TO EXAFULINGTON, Heaches the best portion of the Btate, Special ex. oursion rates for land tookers over this line to Wayno, Norfolk and Hartington, and via Blair to all principal points on the SIOUX CITY & PACIFIC RAILROAD Tralns over tht O., Bt. P, M. & 0. Rallway to Cov nictan, Bloux Uity, Ponca, Hartiugton, Wayne and Norfolk, Connecct at Blair ¥or Fremont, Oakda ¢, N nd through to Val- EY, Genoral Agent, " A.F. GROSBS,, Builder & Contractor UABINET WORK, SUCH A8 COUNTERS, BARS, ICE BO ES, LIBRARIES, aud al kindy of office work & specialty dress 1308 Jackson Btreet, Omaha, Oall orap b 2 & Koturn to us with ut This Qui sz AGOLDEN BOX OF GOODS : Newd U0 capltal. MY oung, 173 Ureouwich BN, |,.....w.|..,.mm“|,,‘....M-!!'!F!.,.::z‘?x"n‘n‘ifi":u%"‘: P AV TR —WITH— SO0 FALL bRANITE. #ad your work is done for all time to time to come. WE CHALLENGE he World o produce a more durarle material for street pavement than the Sioux Falls Granite, ORDERS FOR ANY AMOUNT OF¥ Pavinr Bl —OR-- MACADAM filled promptly. Samples sent and estimates given upon application, WM. MoBAIN & CO.. Sioux Falls, Dakota. HITCHCOCK & PAUL, N. W. Cor. 22d an1 Cuming Streets. Open & Top Buggies, Cartg mud Faruers” Light Wagous (5 malo 1 Tow Prices. Ropairs of all kinds pron ptly do ey