Omaha Daily Bee Newspaper, August 13, 1893, Page 1

DART O ESTABLISHED JUNE SPEECHES 0N SILVER Members of Congress Air Their Opinions on the Otrrency Question. LITTLE INTEREST TAKEN IN THE DEBATE Few Spectators and Fewer Representatives Listen to the Arguments, MR. WHEELER SPEAKS AGAINST REPEAL Demoorats Who Have Good Words to Say for the Sherman Bill HARTER ADVOCATES THE WHEELER BILL His Reasons Why the Sherman Act Shou'd Be Repewled—Mr. Henderson Asks Him n Few Questions—Froceed- ings of the House, WasnINGTON, Aug. 12.—The silver debate In the house today did not attract much public interest. The knowledgoe that no vote can be possibly reached until August 23, causes members to take little interest in the proceedings ana it is doubtful whether there was n quorum present in the house at any time in the day. Many members left for the seaside last night, resolved to remain until 1t should be time for them to deliver the speech, which nearly every man is preparing on the financial situation. It scems likely that tho daily spectacle in the house for the next two weeks will be that of an impassioned person delivering a fiery speech to a score or two of his personal friends and an array of 200 or300 empty benches. When the house adjourned tod there were not more than fifty represent- atives in the hali, Spoke Against Repenl. The first speaker in the house today was Mr. Wheeler, democrat, of Alabama, who continued his speech of yesterday against repeal. The repeal of the Sherman act, he contended, meant the permaucnt demoncti- zation of silver. Mr. Wheeler was followed by Mr. Morse, republican, of Massachusetts. Mr. Morse said that the country had come to the two roads. Sound finance beckoned it on to na- tional integrity and free silver beckoned it on to financial distress. He was heartily in favor of repealing the purchasiug clause of the Sherman act, but the repainder of thav act declaring a parity between the two metals was fine statesmanship and should stand. Mr. Harter, democrat, of Ohio, who was one of the leading anti-silver men in the Eitvy-second congress, took the floor in ad- vocacy of the Wilson bill. He disclaimed any iden of partisauship on this question. If varty guin was to ncerue by saving the coun- try from its present situationhe was willing that the-republican pagly might have it all, Lot congress give the country an honest eurrency and he (Mr. Harter) was willing to shake the dust of Washington from his fect and never enter the house of representatives again, [Appluuse.] In reply to a question, Mr. Hurter suid that the condition of the working man in England was as much superior to the con. dition of the working man in Ohio (prin pally on account of the silver legislation) us a berth in heaven superior to & cot in purgatory. |Laughter.| Me Henders n Asks a Quastion. In responsc to 1 question by Mr. Hender- son (republican, of lowa), Mr. Harter suid that the Sherman act had been passed by republican house and a republican senate and had been approved by a republican president. [Democratic applause. ] Mr. Henderson asked the gentleman to state to the house the attitude of the demo- cratic party at the timo of the passage of the silver law. Mr. Harter said he trusted 0 the good temver of the house to kecp this question out of politics. Mr. Henderson persistod in his question as 0 *he attitude of the demoeratic party at the time of the passawe of the Sherman law. ee co *shouted several members on ihe democratic side. Mr. Henderson—There s auswer from the democratic side gentleman by equally honest? My, Harter replied that he would as o matter of courtesy, though it br thread of his argument. ‘The national plat- form of the democratie party had snot been favorable to the free coinuge of silver. The democrats nominated o man radically op- posed to circulating as a dollar, any com worth less than 100 cents, Proceeding Mr. Hurter said he would have congress repeal the purchesing clause of the Sherman law und the law suthorizing national banks to issuo circulation to the fuli extent of their bonds, and direct tho secretary of the treas- ury to provide for the issue of gold bonds, an honest Will the nswer > the M, Hendrix of New York, Mr. Henurix, democrat, of New York, was the uext speaker. He said he had been de- nowinated bere us o bunker. He had been called a goldbug, but ho assured nis friends kit the only piece of gold that he possessed was 480 coin ana that the enly monoy ho had was in his trousers pocket obtained from the sergeant-at-arms a few days ago. He had been born in Missouri. He had grown up with the people of the west. The oppor- tunity for this congress to benefit the coun- try had never been equaled in the history of the land. Let congress repoal the Shermun silver law and adjourn and go home aud let the people do the rest Mr. Bowers, republican, of California spoke for the free coinage of silver, aud in doing so cast o slur on political platforms, declaring that no purty platform amounted to uny thing, nor was it intended to mean anything. Ho referred to the scarcity of small cu rency und said the free coinage of silver would relieve that embarrassment. Many of the bauks of the United Stutes which were today with their doors closed would be glad to receive the dollar of our dads This nation could wake its own money for Its own neople, and if England wanted to Put up the bars, all right. Which could stand it longest, this great country which vould produce overy necessity and every luxury and which must not surrenaer, or the Littie island which must depend upon what it could obtain from other nations? ‘This uestion was DOl & partisan one; it was u Dusiness one, and, us such, it should be con- sidered, d Kuwi Delegate Rawling, democrat, of Utah lent his voice in favor of fice coinage. The deciarution made by the anti-silver men that the government was issuing u dollar that wiis worth but 50 cents wus absurd, he suid By tho coustitution of the Uuileld States the Talks for Silver. THE OMAHA express power was given to the government to coin money and ragulate its value. Under that power the government had declared that the silver dollar was equal in value to the gold dollar. 1f this congress adjourned without action there would be a deprecia- tion in the value of silver that would be frightful to contemplate and would bring on A monetary panic at once. At the conclusion of Mr. Rawlins' remarks the house adjourned until Monday. SUMMING UP THE SITUATION. How Congress at Prosent Stands on the Monetary Quest 1xaTON, Aug. 12.—The Star this even- g sums up the silver situation as follows There are three factions in the house on the silver question and, consequently, three ele- ments to be taken into consideration: While the radical anti-silver men are demanding the repeal of the Sherman law and nothing els¢, the radical silver men are declaving that legislation favoraole to silver must go with the repeal, while the stronger element in the house appears to be that composed of men who want favorable silver legislation added to the repeal act, but if they fail to secure amendments favorable to silver will still vote for repeal. In other words, if the naked proposition to repeal the Sherman law is presented to them, allsilver amend- ments ving been voted down, thay will vote for unconditional repeal. In this situation the only danger which the repeal advocates seem to be confronted with i8 the possivility that some amendment providing for the free coinage of silver at an increased ratio may be added to the bill be- fore the flual vote come, 1f they can so di- vide the silver men on the amendments of the various ratios soas to defeat all the amendments, orto adopt the ratio which will not be popular, they will have no trouble in accomplishing just what the adminstra- tion wants. 1t is believed that should a ratio of 16 or 17 to 1 be ddopted, so as to prevent a vote or amendment for a higher ratvio, when it comes to a test the house will vote to sub- stitute an unconditional repeal for the amended bill. On the vote for a naked re- peal, with all other propositions out of the way, there is little doubt that the repeal bill will puss by a large majority. In the senate this element enters some- whau into the situation. A large number of senators who will vote for some legislation in connection with repeal which. will be favorable to silver will not refuse to vote for unconditional repeal if they fail to get what they want. Some senators who will do whatever they can to get added to the v peal measure a provision for the coinage of silver at an increased ratio are counted on by the repeal men to use all _their influence to prevent any filibustering und obstruction to the passageof therepeal bill if amend- ments fuil. Thejr position is this: That they are in favor of repealing the Sherman law conditionally, but in favor of repeal any- how, even if they can get no conditions. Democratic Senators WASHINGTON, Aug. wnblo 12.—The senate demo- cratic eaucus committee adjourned until Monday, having failed to agree upon any plan of procedure. The fact that the house has agreed and has two wecks discussion before 1t relieves the senate of the necessity for hurry and probably no settled policy will be reached until near theend of the house discussion. The finauce committee, for the sume reason, is likely not to hurry about re- porting on measures before it. WASHINGTON, Aug. Secretary Tracy’s proposition for the imme- diate coinage ot the silver builion in the treasury to relieve the monetary stringency, treasury officials poiut to their statement of August 5, showing that it would take five years for thé mints to ccnvert the bullion into silver dollars, and that certificates could only be 1ssued on the profits on the colnage, certiticates already being out on the bullion value. Opening o the ¢ horokee Outlet. WASHINGTON. Aug. 12.—1It s expected that the Cherokee outlet will be opened between the 11th and 14th of September. It Will Convene at Los Angel October 10. Laut Lake, Utah, Aug. 12, Thomas, chairman of the national executive committee, today issued a formal call for the meeting of ‘the International Irrigation congress in Los Aungeles, Cal,, during the week commencing October 10 next. Mem- bership in the congress will be two dele- gates from each congressional district and four delegates-at-large, appointed by the governors, two appointed by each county court, two from every university and college, two from ecach chamber of coni- merce, two for every 100 members of every agricultural or horticuitural association, one from each icrigation corporation, muyors of cities of 2,500 or more population, ofticers of state agricultural or - other industvial schools, all governors of states and terr tori rs of congress, members of the Amer ouy of Irrigution, engineer delegates and engineers from foreign coun: Attention is called to the fact that the sceretary of state has requested tho diplo- matic oft of the United States to ask the govornments to which they are acered- ited to be represented by duly appointed delegatee. ——— CHICAGO STOCK YAKDS AFIRE, Part of Nelson Mowrls' Plant Destroyed— 300,000 Damug CH1caGo, Aug, 12.—The lurge beef packiog and fertilizing establishment of Nelson Mor- ris (one of the “Big Four" packers) at the stock yards burned this morning. The building was one of the largest in the yards. In it 2,000 men are employed and & great part of Morris' work doue. It was 600 300 feet in size, four stories high, The fire started by an explosion of grease in the fertilizing departinent, csused by contact between two electric light wires. Two employés were severely hurt. The loss is estimated at §300,000, The flames were confined to a space 150 foet square iu one corner. The cold storage plant and warehouse, with contents, valued 000,000 were not damaged. Eight hundred men were working in the burning part and they will be out of employment ti! u new building 1s erected, v Uulon Pacltic Will Figh NEW YORK, Aug. 12,1t is officially stated that the Uuion Pacific holds nearly half of the stock and $5,000,000 of bonds of the Union Pacifie, Denver & Gulf railroad and will oppose the appoiut- ment of a receiver, prayed for in the Colo- rado courts. Fhey claim to have kept their part of the agreement faithfully. —~-— Riddled with Bullets und Burned. Laxe Ciry, Fla., Aug. 19 he party of Lafayotte couuty «&L-m which passed through heve Thursday for Hillman's convict camp to lyneh a negro for outraging & white womau has returned. The wen, they say, riddled the uegro with bullets and burasd the body, ull except tho heart. BOTH SIDES HAPPY Bulls and Bears Affect to Find Muoh Rea- son for Exuberant Joy. MANY GOOD POINTS FOR THE OPTIMISTS They Base Their Faith on Facts Apparent to All Who Are Watching. SOLID BASIS FOR PESSIMISTIC PROPHECIES Olaims that the Country Has Not Yet Gotten Over the Stringenoy. REAL SITUATION AT THE MONEY CENTERS Bankers 5till Feel Thelr Way Cautlously —Honrders of Currency Apprehensive of Farther Disaster—Efect of the Madison Square Bank Failure. NEw York, Aup, 12.—[Special Telegram to e Bee.|—Wall street has had a hard woek, A detormined contest has gome on between the speculative factions, und so far as immediute quotations are concerned the buils have somewhat the best ofit. They have rallied aggressively in many quarters and their work has been skillfull enough to accomplish a good deal for them. The bear contingent is still confi- dent that financial affairs are far from being cured, and av every opportunity dur- ing the week they sailed into the murket. It looks 4s if nlost of big short interest whish lust week had become so large as to be unweildy has been wiped out. It is prob- able that not ten shares are short now where 1,000 were then. The small bear traders have been squeczed or scared into covering, the bigger bears wera probably out of wuy before the litte ones began to scatter. What the Bulls Count On. The bull points are that congress is gotng to do something for the relief of financial af- fairs vight away: that the immense importa- tion of gold from Burope will kesp up, and s gold, when here, will remuin here: that are practicing economies and carnings are going to be. larger preportionately than ever before; that Europe will be obliged to buy by wholesale our grain and produce; that Bu- rope, moreover, must be attracted to our in-- vestment circles because quotations are lower than Europe has seon them before ; that our own rich meu are making similar purchases on an enormous scale; that the among people who have monsy and have been hoarding it is now pracuically over;und finaily that confidence is being everywhere restored. Upou thess theories some of more important traders have goue over to the bull side und have bacoms heavy buyers of stocks. 1t is improbable that the, have sold much of what they purchased. Rumor has it that some of millionaire interests have put vastsums of moneyat the disposal of Jumes R. Keene and other operutors on the bull side. The bull belief is that it will soon be as fashionable to buy as lately it hus been to sell. Bucking of the Bears. \0 baars meanwhile 1sist that the bulls are grasping at siraws; that the gold impor- tation is only a temporary movement, and that the yellow metal will soon be on ship- board going back to London and Paris. The whole country has for months been in finan- cial distvess, they sy, and such troubles as have been suffered cannot be cared off hand. Europe may have to buy our produce but it will be at prices which wil not net us anyshing. It is not bull point, say the bears, when our farmers have to take 50 cents a bushel for their wheat. The beurs believe, too, thut & good many sore spots have not been uncovered. The worst is over, they thinlk, so far as concerns the banking interests, but in the commercial and industrial worid they expect the pinch tobe much more severe. Free and casy talk 1s already heard concerning receiver- ship plaps for some of the biggest corporations in the east. The facts thut S0 many people are out of work 1s & point which the bear contingent makes a good deal of, though they lay more stress on the conditions of the money market. What the Banks Must Face, The fact thut the New York banks have lifted their rates rate on out-of-town loans 10 12 per cent appeals to the bears as sig- nificant of a serious situation in banking circles. They ipsist that many millions, some place it as bigh as £30,000,000, of redis- counts will fall due here the latter part of this month, most of this being for western and southern customers who were carried over ly in the summer, It is thus to be scen that substantial dif- ferences of view exist among ths important people in Wall street, That sort of thing is what makes trading. I everybody agreed nobody could muke money in Wall street, T'wo local bank failures here have rather upset the caleulation of people who huve been insisting right aloug that so far as New York bauks are concerned everything is at cuse. The failure of the Madison Square bunk came as a surprise, to the street, and the laying down today of the Commercial bank over in Brooklyn was also whollo un- expected. Both ave comparatively small banks, but both reach out in a good many di- rections. 1t is not impossible that before the Madi- son Square incident gets out of.the way that surprising details may come to the front. It is intimated that the Clearing House asso- clation acted toward this baok in & manoer which might be politely ~alled abrupt. he Madison Square was one of the state's de- positories, and the failure may lead to some- what more careful scrutiny of bapks which happen Lo have been chosen to carry such state funds. Itneed nop be surprising if considerable bank history hereabouts 1s made next week. Two Features of the We Gold importation and the farcmiE; bn eur- weucy are the two things which have had thh most attention in the street lately. There are some signs that the curnency pre- mium may abate somewhat, buf ban¥ers in- sist that the gold movement now under way is likely to coutinue indefinitely, and run into enormous proportions. If this be true there issome cheerfuives in iv. It will reguire, however, some time Lo Lest the correctugss of such a theory. The one shing ¢ertain is that forelgn interests will pgt eve possible obstacle in the way of the shipmen®-of gold from Europe here. The Bank of England rate went up thus week o 4 per cent, the highest poiat it has touched in a long while, aud unless sowe unexpected development OMAHA, SUNDAY MORNING SUNDAY BEE AUC dsr 13, 18 —~SIXTEEN PAGES a8 6 per cent the 2 Wesk. People Ars Sudl'Seared. We hear continwslly tHat ‘wcare pariod of this crisis has gona by,"but it does not re- quire much observation 4t current life in Wall street to upset. thit! cheerful theory, People who havebesn hoarding money may ve getting to';'# point where they are inclined {fo, Trelease it, but desbite all the nof#e made on that score this currency hoardin® I8 not the chief of Wall street’s troubles. The most oppressive now is not that the people are taking monoy out of virculation, but that they have become skeptical and suspicious of everybody's financial strength. and integrity. Illus- trative of this is the circumstance vhat money has this gveok been lent on the Stock exehange o millionaire houses with- out interest by peopls who have become so uneusy that they have been really afraid to make their regular bunk deposits. That Raitfond Divoros. An important incident of the week has been the dissolution of lease relations ve- tween the Reading mid Lebigh Valley Kail- road companies.. This came as a sur- prise to the stréet, for important interests on the, inside were committed 10 the polioy of maintaining this connection. The insiders were espeeially devotod to this pohicy, for the reason perhaps that it was proposed by Isane L. Rice to whose industry und intelligence has boen due the shamoless Reading disclosurés this year. Mr. Rice has been insisting that the Lehigh leose was o burden uvon the yReaaing which was not only unwarrdnted, but which must in continuance do drehdful hurt to the Read- ing’s incerest. Against his suggestion that the Lehigh be divorced, vhe Reading in- siders set up under odth that the leass was profitable. Yet righfon the heels of this contention they ordek the leasn aiscontinued. This active endorsement of reform policy proposed by Mr, Ride is sure to result in profit 1o the security holders of the Reading company, even if it i not the free-will offer- ing of the rathor curious coteric of financiers who now happen to be running Reading at- fairs. interferes, the n: Will b probably as high Whisky Trust's Floesse. The Whisky Trust crowd made another play at the street this week. They will be greatly disappointed they don't get their stock down under 810 a share. Some of tho biggest fihanciers are buying the stock now every time it gets under :l\ Today's weekly bank sthtement is not the reassuring exhibit that wasiexpected. Some talk is being heard of tine loans being maae here. Itis truesome of the biggest bauks are making them. The “wiy they can do it is this: Outstanding lowss full due, the borrower can't pay; that's all there is to it. _ H. ALLAWAY. g SETTLED WITH CH#EDITORS. dahy and Fairb’ ke a Private Deal to Secure Thrir Limbilities, Cuicaco, Aug. 12.=The imeetinz of cre itors of John Cudahy add* N. K. Fairbanks, who were caught by'the e6Hapse of the pork denl absuv tawvo weoks ago, anuounced for yesterday, was not held, biit ‘each of them was called upon -and ‘private._settlements made,,, Thereis m cash tobe paid out at present. Fairbanks ofers 1o secure his $800,000of - liabilities (ip full by turning over property ~on'thé south side and in. the business’ ‘district, giving = the parties the privilege of kaking it’ themselves or having it handled by a trustee for their benefit. He had no troule in_in- ducing all his large croditors to consent to his proposition, and denied joint ollization with Cudahy. Cudahy.is securing’ his 8l,- 600,000 of liabilities by turning over 50 cents in real estate to & trustee and agrees 1o puy the restin cash as soon as possible. He feols very confident of his ubility to secure the money if given & fair chance. Cudahy has a Jist of ‘about sixty creditors on the bourd, the largest one. bewng Eggleston, who claims about $250,000. Hately, who was the chief broker in tha lard deal during the winter, and who turned over about #1,000,- 000 in profits from ' the/ lart maunipulation during the last winten, s aeereditor for about 000, Eggleston is preparing o puy a dividend of from 13} to@5 per cent in cash within twelve dags it possible, but he is anxious to hear from the other patties be- fore he takes final action, Will Have a Surpius Lofe, MoxticeLro, 1L, Aug. 12.—The banking house of W. W. Beatty, known as the Mans. field bank, at Mansfield, Piatt county, has mude an assizument to.A. J. Laugtry, whose bond was fixed at $3%,000. The liabilities are $106,000 and assets $135,000, principally real estate in Piatt county and Chicago. The greater part of the craditors are depositors at Manstield. Mr. Beatty able to pay out and have 25,000, In Indians und Tennessee, Tenie Havte, Ind., Aug. 12.—The P City private bank has failed, No statement has been given out: NasuviiLe, Tenn!, Aug. 12.—The People’s bank at Lewisburg falled this morning, the result of other bank failures here, IUis ox- pected to resume. : Brookiyn Bank Embarrassed. BRrookLyYN, Aug. 12—The Commercial bank, a state nstitution, failed this morn- ing. The notice on the door alieges that the suspension is only t@mporary. The officers of the bank decline ta myke a statement. The directors suy the bank will pay all depositors in full in “bme. The failure caused no excitemgnt. | CRISIS IN THIE CVETON COUNTRY. No Money to Move $iALrop—Th to the 'y New Youk, Aug. 18.+Bradstreet “Owmng to the ingl of the_banking institutions of the §ouik! o advance money to move the cotta@ ¢rop, p érisis in the cotton regions is immingns. 1twould require &0,- 000,000 to move the estimated crop, 6,000,000 bales, | A large part of the chap s raised by negro tenant farmerg, who ou the owners to advance money for,pickipg, ginning, pressing and baling. This they' now unable to do. In view of this ememncy the secretary of the treasury of e United States has just made an arraugewens by which, on de- posit of currency at the gubtreasury at New York, the governmens will telegraplt the subtreasury 8t New.Qrleans to pay a like sum in silver dollars,awhich will go far to relieve the stringeney. et ——— Yellow Jack fn Florida, WASHINGTON, Aug. 12~The surgeon gen eral has received a telegram from the sur- geon of the Marine hospital at Pensacola, Fla., saying that there are no new cases of yellow fever to report. Hxtra precautions are being taken and thers 1s uo need of un- due alarm. Treasury L ————— M. Clovels id uwt Gray Gubles, Buzzarps Bay, Aug. 12.—President Cleve- land arp.ved here tiis morning at 2:80 and went ag once to Gray Gables. The president appeared somewbat tired. He will remain till about September 1 or uatal Mrs, Cleve land is ready to return to Washington, OPPOSED TO MIQUEL His Plans for Raising Germany's Revenues Not Very Acocsptable, WEAK POINTS IN HIS FINANCIAL POLICY Bome of His Propositions Are Very Distaste- fal to the People. THAT COMMERCIAL TREATY WITH RUSSIA It isas Far from Being Oonsummated as it Was a Month Ago. WATCHING THE AMEZRICAN CONGRESS Prosident Cleveland's Message Has an Effect Upon Commercial Deallngs tn Germany ~—Mexican Securities Fall—Nows from the Fatherinnd, BrRuIN, Aug. 12.~The finance committee, composed of delegates from the federated states, will meet in Berlin immediately upon the completion of the holiday leave in Sep- tember of Dr. Miquel, the present minister of finance. The semi-official anuouncement from Frankfort that the conference, which was reently in session there, has agveed 10 the general principles of the taxation plan is not credited here. In best informed quar- ters quite the contrary is believed. Dr. Miquel, it is said, found considerable opposi- tion to each leading proposal of his scheme. Objected t5 the Wine Tax, The South German flnance minister ob- jocted to the wine tax, while tho other finance ministers opposed the tax on manu- factured tobacco. Consequently, Dr. Miquel will negotiate a compromise. according to the terms of which the wheat tax will be dropped provided the duty on tobacco be adopted, thus in- asing the ratio of the value of tobaceo. The inland excise duty now levied by weight will be abolished, thus making free of all restrictions the cultivation of to- bicco. The proposal of groatest intevest to the foreign importer is that providing for reduction of the tariff on imported tobuaccos The proposal is made with a view to pre- venting the inforior native products from crushing those of superior quality grown abroad out of the market. Minister Miquel also desired that a tax be placed upon ad- vertisements and matches, bosides the im- position of a further tax on bourse transic- tions. The Reichstag, it 18 expocted, will burst into flame over the proposals touching tobacco, matches and advertisements, Tuut Treaty with Russin, Count von Schouvaloff, the Russian am- bassador to Germany, has gone to St. Pe- tersburg to try to_counter the anti-German policy of Dr. Witte, the Russian finance minister General von Werder, the ‘Gérman ambas- sador to Russia. has been graunted an audi- ence by the czar. He was accompanied by Count von Schouvaloff, and both of tham urged thata commercial entente be con- cluded between Russia and Germany. 1t is reported that Dr. Witte, after the intérview, deglared to the czar that he would resign his ofice1f the tariff war with Germany was abandoned without concessions being mgde by Germany. Dr. Witte is strongly supported by the imperial council and the czar was obliged Lo give way to him in the matter. Thereupon Dr. Witte authorized a semi-official announcement by the press yesterday that the Berlin cabinet would be forced to accept the Russian conditions be- foro o commercial ontente could be obtained. The latest developments of the struggi thus justify the oficial warninzs issuod he to the public not to trust the reports that a settlement of the tariff troubles was close at hand. On Thursday the emperor signed a decree adding 8 per cent to dutjes collected on Fin- nish produce imported into Germany. This increased tariff will practically cause the rain of the leading branches ot trade in Fin- land. Watching the Arerican Congross, The procecdings of the American congress are watched with keen interest here. President Cleveland’s message gave bourse overators in this city and elscwhere in Ger- many the impression that silver wuas doomed, and this caused a heavy drop in the value of Mexican securities, There was intense and genmeral uneasiness over the commercial sitiation in Ame Tho ap- parent strength of the silver men in Wash- ington, coupled wich the rise in the price of silver, led to a reaction of opinion and Mexi- can securities have recovered § points sinco Thursday, even though it is asserted that agentz in Mexico of the Bleichroeders, the well known German bankers, have informa.- ton of an intended reduction in the rate of interest now paid on Mexican bonds. The advance by the Reichsbank ofits dis- count rate to b per cent means o determina- tion to prevent a drain of gold from Ger- many. Inquiries for gold from Austria as- sisted to hasten tho decision of the Reichs- bank to raise its discouut rate. If a demand for gold through the International bunk shows amnarked increase the Reichsbankwill again raise its discount rate. The paralysis from which the duke of axe-Coburg sud Gotha is suffering is ex- tending. The physicians who are in attend- auce upon hin have notified the duke of Ed- inburgh, second son of Quuen Victoria, who is heir apparent to the dukedom, that the duke's condition is eritical. READY TO FIGHT, Hindoo and Mohummedan Citizens of Bom . bay at Swords Polats, Bosaay, Aug. 12.—The riots between the Mobammedan and Hindoo residents of this ity have had more serious results than were at Brst apprehendod. Six persons injured in rioting have died in the hospitals and many others are still under tha doctor's care, The bad feeling between the two roligious sects is becomnng bitter. There is a feeling of un- wasiness overywhere in the city, and mer- chants and shopkeepers have closed their places, fearing another outbreak will oceur. ‘T'wo squadrons of lancers have been ordered to Bombay. Coming Electlons in France, Panis, Aug. 12.—The candidates who will present themselves for election to the Chamber of Deputies on August 26 number over 2,000, The coming elections excite swall interest, Whatever wterest there is is centered in M. Clemenceau's contest in Var and M. Flgquet's contest in the Eleventh arrondissement of Paris, Fell Over » High Ol LoNpox, Aug. 12.—A fearful gucmngu cident has occurred uear 1lfracoube, a fash- THE BEE B Weather for Omaha and ¥ East rly ; Local Showers. Page 1. Silver Debate In Was Balls and Boars Boto Miquel's Policy Stron rope’s Pelitios Still 10se of the Breeders’ Laying the Library Corner Stone, Tobe Castor's Vengeanos Glatted. Aow Srme Congressmon Live, Town I'olities Warming Up. 1 hemian Day at Chicago. Last Weok in Social Clreles. Bursting & Fake Hond Babhle. Whiat the Secret Ordars Are Doing. To Repair the Penitentia it County's Vaults Empt nists N 3 Looal Ty News from Council Blufis, Reoords of the Rebetiion Kullrond War at Fremont, Affuies at Sonth Omuha, Bisliop Tarner Answers Ingnlls. ton Goos on Holidays, r Ways and Her We ment. Rosewnter, G Iy Grist, . Owalin Will Bay Omahy B 1n Local Trade Clsoles. erciml and Flun Stock Markets Reviewed. Story of the Newby Case, Douglas County Rondw iys—V. teor from Mr., fonable seaside ort in Devon. Yesterday a coach filled with people was proceeding along o road that was borderad on one siae by a high procipice. When near the edie the coach went over, carrying passengers and horses to the bottom. The escape of the people from fustant death was almost wiraculous. No one was killed outright. Light received serious injurirs, however, aud it is feared four of them will aie. GLADSTONE'S PLANS. S ¢ Will dold an Autumn son. 1 The Parnellites’ agree- ment to vote for the third reaaing of the home rule bill has remoted any possibility of a hiteh in the last stages. Mr. Gladston,| caleulates that the bill will leave the House of Commons on Friday a fortnight hence. His decision to hold an autumn session in order to deal with the popular measures has caused the liveliest satisfaction in the coun- try, though the majority of the members of the house are not overjoyed at the prospect of a shortencd holiday. The first measure to bo taken up will be the employers liability bill, then the equali- zation of vates. The government will score on both these measares, which will prove the sincerity of its promises of legislation for the working classes. Any tory opposi- tion to these measures will only damage their chances in the urban districts in the event of a dissolution, while the rural electors will be immeasely influencad by the parish council - bill, which will follow the rates bill, and on which the government ex- pects to secure & second reading before Chiristmas. That the strained relations betwoen the parties in the House of Commons which cul- minated in the recent fracas have not im- proved, is shown by the fact that owing to a trifiing indiffevence regarding the arrange- ment for pairs, it is now not possible to arrange for pairs at all. A new party is being formed in the Houso consisting of moderate conservatives and liberal unionists who bpropose to act independently of the official unionist leaders, and to com- stitute themselves a check on the extravi- gances of both the unionist aud radical ex- tremists. The party will be styled the centre party and 2 nucleus of about twenty wembers has already been formed. They tend o oppose the raising of debates, except on substantial issues and will disassociate themselves from the section of the conserva- tives which has been busy iu attacking esti- mates and questioning ministers on trivial subjects Sir Charles Russell arrived in Paris today to await the jndgment in the Bering sea ar- bitration caso which is expected at the be- ginning of next week. Eagland's Parlinm GROVER TO LEO. President veland Sends His Congratuli= tions to the Pope. Roxe, Aug. 12.— The pope has received the following letter {rom Cardinal Gibbons: EXEUTIVE MANSION, WASHINGTON, June 0, 1893.—To His Eminence Cardinul Gibhons Your Eminence: Pleuse permit me to trans- it through you to his holiness, Leo XITL my sincere congratulitions on the occasion of the golden jubileo of his eplscopate. The plous- ure attending this oxpression of my felicita- tons Is much enhanced by the \brance that s holiness hus always manifested u lively intorest in tho prospority of the U nited States und great admiration for our political institutions. Tum glud 1o believe that theso sentinents ure the natural outgrowth of the holy futher's solleitude for the welfare and happlness of the masses of humauity, and his especial sympn- thy for every effort mude to dignity stmple manhood and to promote the moral und sociul elevation of those who toll. The kindness with which Lis holiness lutely accepted a copy of the constitution of the United States leads me to suggest that, if 1t dods not seom presumptions, it would please me exceedingly to pliace in his hands & book contaning the officiul papers and documont s written by me during my previous term of office. Yours very sincerely, ROVER CLEVELAND, Grand Parade, Oratory und Music Countrymen of Komeusky and Hus, CHicAGo, Aug. 12.—This isa big d vy at the fair. The weather is cool und bright. It is Bohemian and Independent Order of Foresters day. These organizations held big parades in the city in the morning and afterward procecuod to the White .City, thronging its promenades and buildings and in turn filliug Festival hall, where exer- cises were held during the afternoon The principal speaker in the,Bohomian celebration was Charles Jones, lieutenant governor of Wiscousin, and Auton Dyorak, the (amous Bohomian composer, led a con cert of his own compositions, by Braved the obrn of Women Lavexwpuri, Kan., Aug. 12.—About forty of the wives of the striking miners assem- bled at the Homo mine this morning and attempted by threats und jeers to prevent the men from going lnto the shaft, Every one of the sixty moen who returned to work was compelled 1o run the gauntlet wiile dozen policemen stood by and offered no resistance. H. D. Rush. prosident of the Homie mine, soys ho will have n squad of deputy Sheriffs on the company's property Monday morning to drive away all those who offer any interference e SN America Cup Deleuders Ra: Newnorr, R L, Aug. 12.-The Colonia is pested here as the wiuner of the cup defenders yacht race yesterday. There is another claim, however, that Vigilunt won, having arrived at 2:30 4. m. 1he Volunteer wias in the schooner class, PAGES 1. SINGLE COPY FIVE CENT THREE PLAIN POINTS European Political Interest Turns Now on a Trio of Ohief Oentars, FRENCH ELECTIONS COMING ON QUIETLY Results of the Voting Not Likely to Ohauge the Ohamber's Complexion. SOCIALISTS HAVE LOST THEIR TERROR Session at Zurioh Davoted to the Discussion of Frivolous Matters, ONE SERIOUS PHASE OF THE SITUATION Tarill War Botween Germany and Russia Hus Kenched n Point Where Something More Deadly Than a Sched; [Copyri jhted 1833 by Ja ns Paiwis, Aug. 12.—(New York Herala Cable —Special to Tue Bee. | —European politio in spite of the dullness which exists every: where, are dominated by three events of capital fmportunco, The first is the French general Parliamentary elections,which takes place on August 20, So far no troubles have oceurred anywhere, and all the indications are that the electoral period will pass quietly. The rosults of the elections will in no way change the political situation of the country, as the same men who satin the last Parhament will for the most part be re- turned, for it is certain that the scandals we have recently gone throuzh have pro- dveed no effect upon the mass of the people, and have only had the resalt of increasing the circulation of the newspapers. Socialists Wasted Their Time. The second political event of importance 18 the International Socialist congress at Zurich. ‘The public is also begiuning to lose all interest in this gathermg. The socialists there assembied have pronourced many high sounding phrases, but they have come to no resolution. They occupied three sit- tings In discussing whether the seats on the platform of the hall indicated that those who occupied them had any superiority of cank over those who filled the seats in the body of the hall. Itseemsto me that it will be difficult to make any reforms in the old order of things by means of such child’s play. The third event to which I allude is the aggravated form assumed by the rupture of the cpmmercial relations between Germany and Jussia. 1t Is Becoming Very Sertous. Authorized information permits.the nsser- tion that this rupture was expressly willed by the czar and that it took place in spite of all the efforts of the kniser, who cannot give up his belief thut h&GRN overcome the dis- wclination of. the Russhen ewperor. Willinm is going to Frenzborg in order to make a last effort to win over Alexander, ynd he is ready to prove that he is willing toxe.to the last limits of possible concessions in order to ace complish this end. According to what official German persors ages say, tho kaiser, if he fails, will be pitie less and with all the ardor of s tempera- ment he will turn on Russia—a war of cus- tom house tariffs may early become another kind of war if the slightest hostile incident should oceur. ‘T'he commercial rupture is a's> looked upon as a serfous event for the reason thut Austria 1s taking a intage of it to effect a raapproachment to Russia. Jacques St. CEn. — STOUD OFF THE OFFICERS, Notorious Town Salc Bold Play. Cuestoy, Ta., Aug, 12.—[Special Telogram to I'ne Bee,|—Last week Jolm MeDonald, notorious saloon keeper of this cit house opposite the grounds where a exhibited today and put in a stock liguors. Information was given to ofticers, who swore out & scarch wi and proceeded to raid the found several kegs of beer. went out to get a_dray, Jeay stables in charge. While he Donald pulled a gun and covered the con- stables while two fellows who wero help- ing hun made away with the liquor. Tho volice have not been able to find any of the parties as yet. Hurd Times for + Hateh.'” Cuicaco, Aug. 12.—The famous wheat speculator, B. P, Hutehinson, “Old Hutch,” has. sold his membership on the Chicago board of trade. The certificate, whicn was issued to the old gentleman twenty-six ago, went ot a very low price. 1t is under- stood that the old man r 1 but u little more than §00 net by the sale. Tho mem- bership went into Armour & Co.’s oftice, the hard headed members of that firm buying it for an employe. Hutchinson was at one time worth 85,000,000, accumulated in specu- lation chiefly. The sale of his membership is taken as marking the formal close of his business career, Anxlous to Seo Their Land, Aukaxsas Ciry, Kan., Aug. 12.—Louis Pappan, one of the chiefs of the KRw In- dians, was in the city today for the purpose of securing the assistance of tne business men in bringing about a sule of the surplus lands of the tribe to the government. There are now bui 197 members of the tribe, and he says they ure anxious to tuke their allot- ment and sell the surplus at §1.25 per acre, There are 100,141 acres in the reservation, and it is regarded as good s the best in the Cherokee Str Kceper Makes m of The marshal g two con- as gone Me- il Tennessvo Militia in Danger, ASHYILLE, Aug. 12.—News comes from Knoxville that Captain Keller, commander of state troops at Fort Auderson, is in Knox- ville. When asked us to the situation of affairs in the Coal Creck valloy, he said it was exciting. He could notssy whether there would be any trouble bosween the miners und soldier®. Caplain Anderson suys that he has discovereda plot by the miners to kill himself and the soldiers from ambush when they appearod alome out the fort, but precautions have been taken to vrevent their beiug surprised, - Chnirman Wiys and Moa Deeg PAkk, Md., Aug. 12. lisle is credited with the statement that Representative Wilson of West Virginia will be chairman of the house committée on Wiys and means. Committee, Secretary Cor- Destroyed by un Earthquake. RomE, Aug. 12.—Kepoated snocks of earths quake have destroyed oue-half of the town of Mattinata ou the Adpigtic coast. Several persons were killed and™a unumber fojured, ‘The Tromboli voleano s in violent erupiion, L Gold Movement for the Week. New Youk, Aug. 12.=Imports gold for the l week, §13,214,011; exports, #0,024, e