Freedman's Savings & Trust Company (Washington, DC)

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JUDGE CHASE-ANOTHER PAYMASTER IN TROUBLE, &C.

Washington, October 17.--Judge Chase is presiding at the Supreme court, which commenced a special term yesterday. General Bullock, paymaster of the Freedmen's Bureau, has been suspended for irregularities. His arrest had been ordered, but it is withheld for explanations. Rumors of a defalcation are rife, and a run is progressing on the Freedmen's Bank in consequence.

The Louisiana Levees.

New Orleans, October 16.-Governor Warmouth writes to the parish juries, he is convinced that the Louisiana Levee company is unable to meet the expectations of the public, by preparing for the fall and spring rise, and that it now rests with the parish authorities to take measures to protect themselves.

Schooner Captured by Filibusters Treuble Apprehended.

New York, Oct. 17. A special to the Herald says that the schooner "Horton," at Gloucester, Canada, was taken from the harbor at Guysboro, Nova Scotia, by a party of men from Gloucester. It is stated that a British gunboat has been sent in pursuit of the schooner, which is now off Cape Ann, and that an American gunboat has gone to prevent the recapture in American waters. The affair is believed to be of great gravity.

From San Francisco.

RELIEF FOR THE SUFFERERS--A BRACE OF MURDERS, &C.

San Francisco, Oct. 17.--A public meeting has decided to send $100,000 of the funds raised here to Chicago and the balance (amount not given) to the Wisconsin and Michigan sufferers. A Chinese restaurant keeper has been killed by his Chinese waiters. Long John, a saloon keeper, was killed yesterday, in cold blood, by a customer. The murderer has been arrested. The weather continues dry and hot.

From New York.

RAID ON ILLICIT DISTILLERIES.

New York, October 17.--Revenue officers, supported by Federal soldiers, made a raid in the Fifth ward, Brooklyn, at 6 o'clock this morning, and captured several illicit stills and other property, with but little resistance.

Butler on the Washington Treaty.

Philadelphia, Oct. 17.-Butler in his lecture, at the Academy of Music, on the treaty of Washington, held that the concessions made by the treaty were humiliating to all Americans. Great sensation was created by his remarks.

From Utah,

Salt Lake City, Oct. 17.-Brigham Young has pleaded not guilty to the indictment against him. He appeared much improved in health. There is no excitement.

Schooner Wrecked.

Milwaukee, Wis., Oct. 17. The schooner Levant has been wrecked, and the captain, mate and a passenger lost. The dead were found clinging to the rigging.

From London.

THE QUEEN DECLARED INSANE-FATAL RAILROAD ACCIDENT-FEARFUL LOSS OF LIFE BY THE FLOODS IN CHINA.

London, October 17.-Mr. Bradlaw, at an immense meeting, declared the Queen to be insane, and demanded that the regency be entrusted to the judges of law and equity until a republic is established. It is reported that the disaster to the "City of Paris" was caused by an error in telegraphic signals. The vessel is safe. A passenger train was wrecked in Scotland, killing two persons and wounding fifteen. Three thousand persons are reported to have perished in the floods which have recently occurred in China.

LAST NIGHT'S DISPATCHES.

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has a special, dated Gloucester, which says the schooner Horton was taken from the harbor of Guisboro, Nova Scotia, by a party of men from Gloucester. The Horton is now due at Gloucester. It is stated that a British gun-boat has been sent in pursuit of a schooner now off Cape Ann, with the intention of recapturing the schooner. An American gun boat has gone to prevent the recapture in American waters. The affair is believed to be of great gravity. Revenue officers, supported by Federal soldiers, raided the fifth ward, Brooklyn, at 6 o'clock, with but little resistance, and captured several illicit stills and other property

HARTFORD, October 17.- The North American Insurance Company has assigned to Wm. C. Hastings. WASHINGTON, October 17.- Judge Chase is presiding at the Supreme Court, which commenced its special term yesterday.

General Bullock, paymaster of the Freedmen's Bureau, has been suspended for irregularities. His arrest had been ordered, but is withheld for explanations. Rumors of defalcation are rife.

A run is progressing on the Freedman's Bank, growing out of the reported defalcation of General Bullock, paymaster of the Freedmen's Bureau. SALT LAKE CITY, October 16.-Brigham Young plead not guilty. There is no excitement. Young appeared in improved health.

NIGHT DESPATCHES.

WASHINGTON, October 17.-The Attorney-General has a despatch from North Mississippi that five Ku Klux, with disguises complete, have been captured. $750,000 of revenue stamps were found safe in the Government vault at Chicago. Advices from the North-west grow hourly worse.

Probabilities-Rising barometer, with clear and pleasant weather, is probable for Wednesday from the lower lakes to Texas and North-westward; cloudy and clearing weather in New England and on the South Atlantic; fresh Northerly winds on the Gulf coast; light winds on the Atlantic, and fresh Westerly winds on the lakes.

Comptroller of the Currency. Official from the Agricultural Bureau-The cotton returns of October are no more favorable than those of preceding months. In no State is the average of September fully sustained. The general average of condition in the first week of the present month is 76 per cent., against 80 per cent. in September. In some sections in the Mississippi Valley and in Texas, improved prospects are reported, while the preponderance of testimony in the South-west, as well as on the Atlantic coast, favors a further reduction of the expected yield. The per centage of condition in the several States is as follows: North Carolina, 80; South Carolina, 75; Georgia, 72; Florida, 73; Alabama, 75; Mississippi, 76; Louisiana, 73; Texas, 72; Arkansas, 82; Tennessee, 94.

The injuries reported are from rust, shedding of bolls prematurely, sufficiently low temperature to check development of bolls in more Northern latitudes, floods and inundating in Florida and Georgia, sprouting or rotting of bolls from rains, drought in the section West of Georgia, and the boll and army worms in portions of Mississippi and more Western States. It does not appear that the losses from insects are general or very serious. With a few isolated exceptions, drought should be credited with a larger proportion of the depreciation than any other assigned cause, notwithstanding the fact that cotton endures lack of moisture better than other crops. The present indications do not point to a crop of more than 3,000,000 bales. If the remaining season should be unfavorable for the development and gathering of the fibre, as a matter of course this result must be accepted.

CHICAGO, October 17.-Hon. G. S. Boutwell, Secretary of the Treasury: The banks are saved, and are paying every dollar on demand. A good feeling prevails. (Signed) H. R. HURLBUT,

HALIFAX, October 17.-Hon. James McNab is dead.

CINCINNATI, October 17.-Eighty Catholic children arrived to-day from Chicago, and were committed to the Bishop's care.

ST. LOUIS, October 17.-Fires are raging in Deer and Harrison Creek valleys. They have extended to Jefferson County, Nebraska. The loss is estimated at

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There was no ground, it is asserted, for the recent panic with regard to the Freedmen's Savings Bank, in Washington, as it has no less than four millions on deposit. -

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good, but I won't. You may state, however, that I have abiding confidence in the integrity of ex-Governor Cooke, and the firm of Jay Cooke & Co., and I believe that all moneys held by him in trust in a fiduciary capacity will be paid, even if he has to sacrifice his property. Reporter.-Does his appointment by the board make him a government officer? Mr. Sargent.-Certainly; and as such he bonds under the law governing such officers, and gives bonds for the faithful performance of the duties.

### OTHER DISTRICT CHARITIES AFFECTED BY THE CRASH.

It is stated that there was deposited in the First National bank $20,000 to the credit of the St. John's Sisterhood, a charity connected with the Fpiscopal church of St. John's; $10,000 o the uninvested funds of the Smithsonian Institution; $11,000 belonging to the Soldiers' and Sailors' Orphan Home, of which ex-Governor Cooke acted as trustee and treasurer-from the sum set apart for its appropriation by Congress a warrant for $15,000 had been drawn, of which vouchers for $4,000 have been audited, leaving an unexpended balance of $11,000.

### OTHER HEAVY DEPOSITORS.

It is said that ex-President Andrew Johnson had $60,000 to his credit in the First National bank, on which he was receiving six per cent. interest; Senator Patterson, of South Carolina, $14,000 in one of the suspended banks; Admiral Rowan, $6,000. Mrs. Wm. H. Scott, widow of a former navy agent, had $17,000, the proceeds of the sale of all the property she had. Gen. Hunter had a handsome credit in Jay Cooke & Co.'s. Col. Webster, register of wills, had all his savings deposited there.

### THE STOCK OF THE FIRST NATIONAL.

Of the five thousand shares of the First National bank, about thirty-five hundred shares are owned either by Jay Cooke & Co. or individual members of the firm.

### OUR BANKS TO-DAY.

Matters financial are in their normal condition throughout the city to-day, and the banks are transacting business as usual. Many depositors who drew their money under the prevailing excitement have returned their funds and express the fullest confidence in the security of the banks. The general conviction is that a portion of the community here became unduly and unnecessarily frightened.

### MR. STICKNEY, OF THE FREEDMAN'S SAVINGS BANK,

says the reason that institution deemed it expedient to require the legal notice of sixty days for those desiring to withdraw their deposits was because all the books which had not such notice posted therein were now paid, and that the failure of Clews & Co., announced yesterday, left bank officers in the dark as to where the trouble would end. He deemed it a matter of prudence to require the full legal notice. Payment, however, in special cases, are being made.

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Financial Affairs In New York and Elsewhere. Western Grain Shippers Advised to Hold off on Account of Difficulty to Meet Drafts. The Rogers Locomotive Works Discharge One Thousand Employes. Clews & Co.'s Failure Causes a Strike among the Pennsylvania Miners. NEW YORK, Septemb er 24.-The ten millions of loan certificates are exhausted. The associated banks will issue ten millions more to-day. The Bank of the Commonwealth has been sued for collaterals which they can not produce upon tender of the amounts loaned on them. Carleton, the Secretary of the Union Trust Company, has friends who are in treaty with the bank for a settlement of his defalcation. Henry Clews & Co. claim that their securities were more than ample in ordinary times. They may resume when the money market improves. They have published a list of their correspondents, which include twenty-four national banks and one hundred and fifty-eight private bankers. It is stated that the Western shippers of grain have been advised to hold off on account of the difficulty to meet sight drafts. The Stock Exchange remains closed until further orders. The sub-treasury is offering no bonds this morning; feeling excited. The Western Union Telegraph company's stock is quoted at 62c by buyers; 64c asked. Holmes & Macy have suspended. LATER-The sub-treasury has bought half a million of bonds.. The bank Presidents have authorized the issuance of another ten millions of loan certificates. Mr. Marsh, of Holmes & Macy, says that all houses like theirs having a large number of depositors must suspend. WASHINGTON, September, 24.-The Freedman's Savings bank is enforcing the legal thirty days notice from depositors. A Berlin dispatch announces the failure of a bank in that city, PATTERSON, N. J., September 24. In consequence of the depreciation in railroad securities, and many orders for locomotives having been cancelled, the Rogers Locomotive Works discharged five hundred and fifty hands to day. It is feared five hundred more may be discharged. PATTERSON, N. J., September 24.Four hundred and thirty-five men were discharged from the Rogers Locomotive Works here to-day. WILKESBARRE, Pa., September, 24.Brown & Gray attribute the strike among the miners here to the failure of Henry Clews & Co. The miners itn with 'this house

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failures reported were the Union Trust Company (the cashier of which was said to be a defaulter to the amount of $600,000), the National Trust Company, and the National Bank of the Commonwealth. The excitement and panic which followed the announcement in the Stock Exchange of the suspension of these institutions were beyond description. The Stock Exchange resembled a mad-house, and the streets were blocked with people, all laboring under great excitement and frenzy. Prices tumbled from two to sixteen per cent., and stocks were slaughtered without any apparent regard to values. President Grant and Secretary Richardson proceeded to New York on Saturday night, and on Sunday a conference was held with some of the leading financiers at the Fifth Avenue Hotel, to endeavor to arrange some plan for governmental relief. A proposition was made that the President authorize the Secretary of the Treasury to place $30,000,000 of legal reserve in the city banks, and Commodore Vanderbilt offered to add $10,000,000 more. This proposition was declined, the President stating his belief that he had no constitutional power to afford the relief asked for in this manner. It was finally determined that the Assistant Treasurer be instructed to purchase all the government bonds offered for sale to any amount, and as the savings banks hold many millions of these bonds, it was thought probable they would sell them and deposit the proceeds in the national banks, which would give them relief. At Washington, on Saturday, there were continued runs upon the Freedmen's and City Savings Banks, but both held out. In Philadelphia the Union Banking Company suspended; in Chicago, the Franklin Bank, and at a meeting of the officers of the different savings banks, it was unanimously resolved to notify their depositors, that they will avail themselves of the privilege given them by their charter of giving sixty days' notice before paying their depositors.

The managers of the Eastern railroads have come to a determination to issue return passes to stock drovers on and after October 1st.

The Assistant Treasurer at New York continued purchasing all the 5-20 bonds that were offered by the banks on Monday, for the purpose of easing the money market. Both the Stock Exchange and Gold Exchange continued closed during the day. A run was commenced on the savings banks in the early part of the day, but later a feeling of greater security prevailed, and the crowds of depositors dispersed. The day closed with a general confidence that the crisis was entirely over. On Tuesday, 23d, the New York Stock Exchange continued closed, but the Gold Exchange was open and regular transactions resumed. Up to 2 o'clock p. m. the monetary situation might have been summed up in a sentence, "Confidence is restored, the banks are conducting business as usual," but just as the street was beginning to feel that the end of the panic had been reached, the painful rumor started that the house of Henry Clews & Co. had suspended payment. As soon as the announcement was made that the doors of this banking house had closed, the most intense excitement again prevailed, only equaled by the first announcement of Jay Cooke & Co.'s failure. The run on the savings banks was continued moderately throughout the day, but the time rule allowing the banks to require thirty days' notice on all sums over one hundred dollars, was generally enforced. A London telegram announced that Jay Cooke, McCulloch & Co. were throwing out drafts drawn by the American house and which have come to hand since the news of their suspension was received. A Petersburg dispatch announces that the Merchants' National Bank, Planters' and Mechanics' Bank, People's Bank, and First National Bank, all of that city, had suspended. The Citizens' Bank, although not suspended, declines payment. Rumors of heavy commercial failures were also rife in that city.

It is stated that the Pennsylvania Railroad Company have reduced the hours of work for laborers and road men to eight hours per day, and the pay rolls will be reduced accordingly. The laborers, it is said, will strike against the new rule.

Up to noon on Wednesday, the Government had purchased about $12,000,000 of bonds in New York City, but the financial crisis was apparently not yet over. The principal failures announced were the London house of Clews, Habecht & Co., and that of Howes & Macy, New York-both brought about by the suspension of Henry Clews & Co. on the previous day.

At Philadelphia, Sept. 24, Thomas B. Parker, a wealthy retired iron merchant, shot his wife and then killed himself with

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e. The Freedmen's Bank at Washington, with its branches, suspended yesterday, and will go into liquidation.

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The Freedman's Savings Bank

The latest report is that the mother Freedman's Savings Bank which has its head-quarters at Washington, and its affiliated branches all over the Union, will be able to pay ninety-fivece in the dollar on its liabilities. This is a better showing than was apprehended when it suspended payment. This institution is an offshoot of the defunct Freedman's Bureau, and was established under pretence of a safe and profitable investment of the earnings of thrifty and industrious class of colored people who have been outrageously swindled while the sanctified knaves who originated and managed the concern, have accumulated fortunes.

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Malapropos, The resemblance which the UnionHerald would like to trace between the Freedman's Bank, at Washington, and the Citizens' Savings Bank, at Columbia, does not exist in fact. What either will pay the depositors remains yet to be seen. The possibility of paying anything on the part of the former is due, if we are not mistaken, to the action of disinterested parties, who have protected the freedmen against those who, par excellence, claimed to be their friends. The Citizens' Saving) Bank has already paid twenty-five cents in the dollar, and has ordered twelve-and-a half cents more to be paid on the 1st of September. One of the causes of its embarrassment is due to the failure of the South Carolina State Government to pay an important claim that it has against it. It was directly and strongly affected in its solvency and strength by the bankrupt condition of the State. If there has been any mismanagement on the part of those in charge of its affairs, (and we don't know that there has been,) no imputation that we know of has been made upon their integrity. The allusion to the names of a distinguished Confederate General and of his successor are particularly unjust. Not the slightest stain rests upon them. As to the financial troubles of the bank, they were, no doubt, due principally to the "panic," which struck it inopportunely, delivering its whole force in this place on this one banking institution. Others, perhaps, were saved by it, or relieved at least. There is no likeness that we can see between it and the Freedmen's Bank, except, perhaps, that each, to its sorrow, credited the Government or Government officials where it was located-the one the General Government at Washington, the other the State Government of South Carolina.

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-A dispatch from New York says that the firm of Posenanski & Co., shirt manufacturers, have suspended with liabilities at $500,000.

-The returns from the various branches of the Freedmen's Bank in Washington come in slowly, and the managers are in trouble. The depositors object to the funds being removed to Washington for fear they may never see even a portion of them again.

-The failure of Sutton & Co., publishers of the Aldine, an illustrated journal, is announced by telegraph from New York.

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Publication Office-No

116 Poydras street, corner of Camp. "HOW BE VOLUME VIII. Term and in favor of a speedy retarnto specie string Star and Catholic Messenger. payment The mills at Fall River opened on the 27th to give the strikers. numbering NEW ORLEA SS. SUNDAY OCTOBER 3. 1875. 15,000, a chance to go to work. A large oumTELEGRAPHIC SUMMARY. ber availed themselves of heapportunity and since then daily every mill has gained hands. FOREIGN. THE HERALD STANLEY EXPEDITION-Some months ago the New York Herald sent H. M. ROME.- The Pope has appointed Mgr. Diaz Bishop of St. Christopher, Caba. Cardinal Stanley, the discoverer of the longlost Livingston, to find the sources of the Nile. On the McCloskey took possession of the Church of Sancta Maria Supra Minerva on the 30th Sept. 27th the Herald received advices from Stanley, He entered the Church with thirty Dominican dated village of Kagehiji. district of MetramFathers and several prelates and, after a short bra, March 1st, and May 15. He had reached Victoria Nyarza Lake, having accomplished prayer, seated himself in the Episcopal chair. the remarkable march of 720 miles in 103 days. IRELAND.-Cor Sept. 28.-The river rose Dering the journey he passed through a totally several feet, inundating a portion of the city new country, much forest and jongle, where and flooding the country for miles around. he suffered from honger and attacks from the Accounts of floods come from other parts of Irenatives for several days. A fight resulted in land. The damage to the crops in Longford, the loss of twenty-one of his followers. Kerry and Tipperary is said to be enormous. MISCELLANEOUS. BAVARIA-Munich, Sept. 29.-The UltramonVery Rev. P.B. O'Connor, V. G., dicoese of tane (Catholic and National) party have elected the President, Vice President and other officers Vincennes, is dead. The Washington Board of the Bavarian Diet by a majority of two. of Health declares that wooden pavement, of which that city has 60 miles, engenders dis GERMANY.-The London Pall Mall Gazette ease. Madame Titiens, the Prima Donna, has the following: Dean Susezinsky has joined and Chas. Bradlaugh, the British Radical, the Old Catholics and married. The Old Caarrived in New York on the 25th alt. There tholics were thus obliged to decide the quesare $373,941,124 legal tender notes in circulation in regard to priests marrying, and decided tion. The City of Berlin recently made the affirmatively. The Government has resolved trip from Queenstown to New York in 7 days 12 to protect Dean Sasezinsky in the enjoyment hours and 2 minutes, the fastest time on reof his temporal ties. The Emperor has gone cord. The Third Avenue savings bank, New to Baden-Baden. He goes from there to Italy York, has suspended. It had 8,000 depositors on the 10t h inst. to whom $1,340,000 are due. Mr. W. C. DurENGLAND-Early in the past week a great yea, of New York, has failed. Liabilities $3,storm passed over England. Accounts from 557 500 nominal assets, $921,518; real assets, the Northern part report great damage to $114,127 Columbus Delano, Secretary of property. Theinjary to Liverpool is immense, the Interior for six years, and now under the nearly every building in the city having sufmost serious charges of peculation in office, fered some damage. has tendered Lis realguation and Grant has FRANCE.-Le Temps confirms the report that accepted it. The commissione rsofthe Freedthe Government has determined to make the men's Savings and Trust Company, will comadoption of the system of voting by arronmence paying a dividend of twenty per cant. dissements. instead of departments, a Cabinet on all audited claims on the 1st of November question. It adds that President McMabon next, at their office in Washington, upon declared at a Cabinet meeting that he could be presentation of pass books or other evidences RO longer in favor of immediate dissolution of of indebtedness.

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Suit was yesterday entered against the Freed-men's Savings Bank in Washington by G. W. Shawyer to recover the full amount of his deposit instead of accepting a dividend, he having given the requisite sixty days' notice for withdrawal before the institution suspended.

The case excites considerable interest on account of its bearing on similar institutions.

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INTERESTING SUIT

On Wednesday suit was entered against the Freedmen's Savings Bank in Washington by G. W. Shawyer to recover the full amount of his deposit instead of accepting a dividend, he having given the requisite sixty days' notice for withdrawal before the institution suspended. The case excites considerable interest on account of its bearing on similar institutions.

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FOLLOWING HIGH EXAMPLES.

When in Franklin, Simpson county, Ky., a gentleman gave me an account of a negro who played the role of banker in a very sharp manner; in fact, equal to any of his carpet-bag friends down South. He ran short of funds, and, strange to say, for a penniless man, he proposed to start a bank.

He started out among his country friends to "talk up" the bank and get them to take stock, saying: "Do you know why the white folks can always get money when they want it and we colored people can't" "No, we don't know." "Well, I has found it all out since I been living in town." "Well, how is it, Uncle Jim?" "It's just 'cause the white folks have banks. When they need any money, they just checks on the bank and gets it. We colored people always will be poor and hard run for money till we have banks like the white folks." In this manner he soon talked up a bank fever among the negroes. When they asked: "But how are we to manage it? We don't know how to 'tend to these things like the white folks," he replied: "I has done learned all about it since I been living in town. You see, you just has to take stock 'cording as you is able. Some put in five dollars, some four, some three, some two, and so on. I'll manage the bank, and in four or five months after the bank gets a start you all can begin to check on it when you need money."

He soon made up seventy or eighty dollars among his friends, who were much elated at the idea of holding stock in a bank. Jim returned to Franklin and lent out his banking funds to the grocers for flour, bacon, sugar, coffee, whiskey, and other luxuries of life-in fact, he lived like a banker as long as the seventy dollars lasted. In the course of time, some of the stockholders being "hard up" for funds, came into town to check on the bank. Imagine their surprise when Jim very coolly said to them: "The bank is done broke." "Why, how is this? Didn't you tell us you was gwine to manage it just like the white folks, and we would all have plenty of money? Now you done cheat us out of our money, and we've a great mind to beat you for it, you nigger you." "Why, you fool niggers you, don't you know the white folks' banks sometimes break, and does you 'spect me to be smarter than the white folks? Where is you been all this time, that you ain't hern tell of the Freedman's Bank bustin' up at Washington, and losin' all the colored people's money; and the white folks was managing it, too." From the Religious Herald.

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THE Commissioners of the suspended Freedman's Bank, at Washington, have issued a circular to the creditors of the institution, stating that a dividend of 10 per cent. would be paid about March 20, next, that being all their present available cash balance, and that no doubt will be all they will ever realize.

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AUCTION SALES

FUTURE DAYS. XTENSIVE SALE OF REAL ESTATE. E The Commissioners of the Freedman's Savings and Trust Company will resume the SALE OF REAL ESTATE belonging to said company. at their :office. on Pennsylvanta avenue, between Fifteenth and Fifteen-anda-half streets northwest, on WEDNESDAY, MARCH 26, 1879, at 11 o'clock a. m. The properties to be offered comprise a large num ber of Dwelling Houses and Vacant Lats in all parts of the city and District, as well as as several choice Farms. Great bargains may be expected. Call at the office of the Commissioners for list of mchi5-eod&ds properties to be sold. TRUSTEE'S SALE OF PROPERTY ON NINTH STREET EAST, By virtue of R. decree of the Supreme Court of the District of Columbia, passed in equity cause No. 6148. docket 18, and also by virtue of a deed of trust re corded among the land records of the District of Columbia. in Liber No. 762, follo 45, I will offer for sale at auction. on WEDNESDAY, the 26th day of March. 1879, at 5 o'clock P: m., in front of the prem. ises, lots No. 27 and 28, in Charles Just's recorded subdivision of square No. 935, in this city, Theselots each have a front of 20 feet on Ninth street east, between F and G streets north, and run back with that width 106 feet to a public allev. Lot 28 is improved by a well-built two-story frame House. Lot 27 is unimproved. Terms: One-fourth of the purchase money in cash, and the residue in three equal installments, at six twelve, and eighteen months, with 6 per cent. interest. A deposit of $50 on each lot at time of sale, Conveyancing at purchaser's cost. REGINALD FENDALL, Trustee. STEIGER & LIEBERMANN, Auctioneers. mchis-eoddeds

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CURRENT CAPITAL TOPICS

The Forthcoming Report on the Freedman's Bank. Purchase of the Building to be Recommended - A Pension Asked by the Widow of Admiral Paulding Complimentary Letter to General Garfield - The Exodus Committee. The Freedmen's Bank Investigation. The Senate select committee on the Freedman's Bank are still taking testimony in regard to the affairs of that institution, and will examine additional witnesses at a series of meetings throughout the present week, but the investigation has now drawn nearly to a close. During the past few days the committee have examined George W. Stickney, the bank's actuary; John O. Evaus, one of its heavy borrowers; Dr. J. L. Kidwell, president of the Seneca Saudstoue Company; Dr. Charles B. Purvis, a trustee of the institution, and several of its depositors. Their testimony showed great looseness in the bookkeeping and a lack of proper care in scrutinizing the securities accepted on loans. Dr. Purvis testified that the failure of the bank was due solely to the panic, although he admitted that there were irregularities in the management. The committee, it is understood, will report that, in consequence of the deaths of some of the persons responsible for the bank's bad management, and the present impecuniosity of the remainder, nothing now can be done for the further relief of the depositors, except to consummate the proposed purchase of the Freedman's Bank building in this city by the United States Government, a bill for which purpose has heretofore been recommended by the Commissioners and once passed by the Senate. The building is now rented for the use of the Department of Justice and the Court of Claims, and the price asked for it is $275,000.

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A National Disgrace.

Mississippi's colored senator, Bruce, as chairman of a special committee, has just made a report on the Freedmen's savings bank at Washington, which is endorsed by all the members of the committee who have examined the subject. The causes assigned for the failure are few, and they are stated with a degree of candor that deserves commendation. Instead of following the business for which the bank was established, a heavy discount business was undertaken. There was lack of responsible oversight, and the powers vested in the trustees were exercised by three members of the finance committee, and even by the actuary, acting alone.

This downright robbery of more than seventy thousand poor, ignorant but innocent negroes amounts to a national disgrace. The institution was established at the close of the war, avowedly for the benefit of the freedmen as a safe depository of their hard and scanty earnings. The government had dealt generously with the emancipated slaves, and they in turn, regarding this as an act of benevolence toward them, poured their scanty earnings into its bottomless coffers with the utmost confidence. And when congress looked quietly on and saw a set of graceless villains rob these unsuspecting depositors of nearly or quite two millions of dollars, we say it not only amounts to a national disgrace, but it constitutes a claim upon the general government of the nation as equitable as any that ever existed. To make the outrage still more palpable, it seems by this report that more than ten per cent of the claims against the bank ($350,000) has been expended in liquidating its affairs. The report gives encouragement that in all about fifty per cent will be paid to depositors; but this leaves the loss at about $2,000,000.

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FORTY-SIXTH CONGRESSSECOND SESSION

WASHINGTON, January 17. SENATE. Mr. Wallace, from the Committee on Appropriations, reported with an amendment en the appropriation bill. Mr. Pendleton, from the Committee on Census. reported bill on appropriation for completing, compiling and publishing returns with the census. Mr. Garland presented the report of the Congressional visitors to West Point, and a bill amending existing laws relating to the Military Academy at West Point: referred to the Committee on Military Affairs. Several bills were introduced and referred. On motion of Mr. Bruce, bill authorizing the purchase by the Secretary. for public use. of the freedmen's bank and eal (3 ate, on the Pennsylvania Avenue, Washington, was taken up, amended and passed. On motion of Mr. Burnside, by unanimous consent, orders were suspended for the Senate to take up the Senate bill for the relief of Gen. Ord. The bill passed without debate. The Freedman's bank bill appropriates $25,000. A joint resolution. creating a Yorktown, Va., Centennial Commission, was passed. The calendar occupied the remainder of the morning hour. Mr. Saulsbury moved to lay aside the regular order, the Ben Hailiday bill, and take up the Kellogg case. Negatived, yeas 20: nays 34. A motion that the Halliday bill be tabled in order to proceed with the Kellogg case was defeated. Discussion of the Halliday bill was resumed but without action. Senate adjourned until to-morrow. HOUSE. By Mr. Newbury, providing for a joint commission by the United States and Great Britain, to investigate the alleged false and fraudulent statistics used before the Halifax fishery; the commission to consist of three persons, one to be appointed by the United States, one by Great Britain and one by the two governments conjointly. Mr. Ford's resolution, declaring the opinion of the House that every interest demands immediate construction of telegraph lines by the government to protect the people from monopoly. The speaker ruled it was not in order under this call. and it was not admitted. At the conclusion of a call of States several resolutions were offered and referred. The speaker laid before the House a communication from the Secretary of the Interior transmitting the report of the superintendent of census returns, showing the population of the United States to be 50,152,866. Referred to census committee. The regular order was then announced to be a motion to suspend rules and pass the bill authorizing readjustment of salaries for postmasters in accordance with the act of June 8th. 1866. The House under a suspension of rules passed the bill granting titles of settlers on the Des Moines river lands in Iowa, after which, adjourned.

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WASHINGTON BRIEFS

THE admission of Dakota as a State will resolve itself into a party question. FIVE thousand copies of the Garfield memorial card will be printed for distribution. EVERY Territory in the United States has applied for admission into the Union as a State. AT THE conclusion of the arguments in the Mason court martial, the court adjourned sine die. THE report that Gen. Benj. F. Butler has been retained as Guiteau's counsel is denied by him. THE nomination of General Rufus Ingalls to be Quartermaster General will be favorably reported. JOHN W. DEFREES, Public Printer, is dangeronsly ill, only his most untimate friend being allowed to see him. LOGAN, nominated as Olive Logan, DAVID DAVIS, Logan, and Mahone an invitation to participate in 4th of July celebration at Lake Bluffs, III. THERE is a general feeling of satisfaction in Washington over the announcement that there is no prospect of a paid base ball club being organized there for the next season. UNDER the decision of the Chairman of the Committee of the Whole the tariff commission bill must take its regular place on the calendar, where it stands fifty-fourth in order. THE large number of people now in Washington suffering from various ailments is causing comment. Several Congressmen and Senators are among those on the sick list. A STATUE to the memory of Chief Justice John Marshall, formerly of the Supreme Court of the United States, is to be erected in a reservation in Washington, and to cost $20,000. SCOVILLE'S pay for five months' service in the Guiteau case amounts to $50. He says that when he completes the record and files his bill of exception he will withdraw from the case entirely. THIRTY-FOUR bills authorizing the erection of buildings in twenty States, which will cost $5,500,000, have been reported to the National House. The chances of any individual bill are not very good. GUITEAU has received a box containing small coffin, with the effigy of a man inside, who has apparently died by hanging. The present was marked, From the school children of Dayton, Ohio." THE Life-saving Office has received from the Board of Trade of Louisville, Ky., a resolution of thanks for the gallant services of the lifesaving crew at that place during the recent freshet of the Ohio River. To DISCOVER a peculation of less than $100 in the Treasury Department, a Senate Committee has been at work all winter, taking over 1,400 pages of printed testimony, at a cost to the of nearly THE government period $10,000. of mourning for the death of 20th the late President Garfield will expire on the of this month, after which the customary pub- held lic at the White House will be twice week on days to be receptions a named hereafter. CAPT. EADS has given a second ship-railway dinner at Wormley's, to distinguished statesCapt. Eads wants Congress to approprimen. ate $25,000,000 to help a scheme of his along, Eads we have repeatedly stated. Capt. his as understands how to get into the hearts of countrymen. IT IS reported that Sergeant Mason, who shot Guiteau, is likely to be brought a second of time at before a court martial upon the charge of insulting the surgeons who, in the course the late trial, were sent to his cell for pur- him the pose of examining the wound received by in the late war. THE unclaimed bounty money due colored the which it was proposed to allow will to resoldiers, of certain colored institutions, for support in the possession of the government Edumain session at any rate, the Committee on adthis cation and Labor having decided to make bill. an verse report to the House upon the THE bill proposing to purchase the the FreedBank Building for the use of governman's passed the House, and will probably in Conment law at last, after many trials of the become a This will enable the receiver of 2 gress. bank to declare an additional dividend far. percent., a total of 60 per cent. so JUDGE GRAY, of Massachusetts, has Bench aston by his associates on the Supreme ished a prominent part in the Court proceed all tra taking the first day, thus violating a ings from of that august body, which requires and re ditions member to be somewhat modest with th junior tiring for a few months, until Court. familiar practice and customs of the

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The Way the Moacy Goes.

A Washington special says: "At the last session of Congress an appro- priation of $300,000 was made to pur- chase the Freedman's Bank property in this city. The building was for the use of the Department of Justice, which had occupied a portion of it under rental for several years. The price paid was thought by many at that time to be a fancy one, but as the money was to go to the depositors of the broken concern which owned it, the money was appropriated without much oppo- sition. As soon as the government came into possession of all the proper- ty it was found that the portion which had been occupied by the defunct bank was entirely out of repair; in fact, no repairs had been made on the building since its erection. An elevator had to be put in, which cost $15,000. Then $10,000 more had to be spent on repairs. It is now discovered that the walls are splitting, and that, in order to prevent their falling, iron rods will have to run horizontally through them. Other re- pairs are absolutely necessary, which will, it is estimated, cost $20,000, and then it is not certain that the concern will be pronounced in good condition."

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WASHINGTON NOTES.

Secretary Folger's condition is somewhat improved. He is still confined to his bed however. Mr. John N. Teller, recently appointed Secretary of the Territory of Idaho, has resigned his position as a member of the Sioux Commission. Ex-Congressman Alley, of the PostalTelegraph Company says his line will reach Chicago next week, and be open for business to New York in a month. A dividend of 7 per cent. will soon be ready for the creditors of the wrecked Freedmen's Savings bank of Washington, making the total dividends 72 per cent. The decision of the secretary of the interior in the "backbone" land-grant case, gives the New Orleans Pacific Railroad company about 1,640,000 acres of land in Louisiana. The only coin of the United States that strictly conforms to the law is the $20 gold piece. Other coins either lack something prescribed or bear some device unauthorized by law. It is probable that General Halderman, United States minister to Siam, will be selected as one of the commissioners to arbitrate in the Loochoo dispute between China and Japan.

Secretary Folger's sudden departure from Washington on Sunday was rendered necessary by the fact that his health required an immediate change of air and entire relief from the cares of office. He will remain for some time at Fortress Monroe. Commissioner of Customs Johnson says he has never received a cleaner lot of accounts than those presented as the expenses of the Tariff Commissioners. The total was $69,000. He had struck out but one item-$50 for cigars. The navy department is in possession of information regarding the sinking of the United States steamer Ashuelot, in Chinese waters, that warrants the trial by court-martial of Commander Mullen, who was in charge of the Ashuelot at the time of the disaster. Consul Mason, at Basle, Switzerland, has called the attention of the Solicitor of the Treasury to the systematic shipment of merchandise to this country and the evasion of the custom law by under valuation, etc. The Solicitor has taken proper steps to have such practices stopped in future. In his last official communication to the state department. Mr. Comley, of Ohio, lately United States minister to Hawaii, discusses the prospects of the natives of the Sandwich islands and gives figures to prove that the Kanaka population is diminishing at the rate of 1½ per cent. per annum, while the royal family bids fair to become extinct with the next generation. Henry H. Gorringe, late commander in the navy, and now president of the American Ship-Building company, which company recently purchased the ship-yard of the Reading Railroad company at Philadelphia has given employment to Messrs. Woodruff, McGrath, and Groos, who were recently expelled from the cadet corps at the naval academy at Annapolis for insubordination. It is said that the dissenting opinion of Mr. Justice Field in the Virginia bond case is to be disseminated all over the country in the shape of a tastefully gotten up pamphlet, printed in bold and attractive type upon cream-colored paper. It is also pretty certain there will be a wide call for his dissenting opinion in the Louisiana bond case. The Attorney-General gave an opinion Saturday on the clause in the Legislative Appropriation bill fixing the hours for Government clerks in the departments. He says it should go into effect at once. This will lengthen the hours in the Treasury, War, and State Departments to 4 o'clock from 3 and 3:30, as at present. The hours hereafter will be uniform in all-from 9 a. m. to 4 p. m., with half an hour for lunch. Letters received here from members of the Ohio legislature state that a movement is on foot to make Senator Sherman the re-

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THAT "SAVINGS" BANK

How the Republicans Robbed the Colored People-Present, Condition of Their "Institution." The act of February 21, 1881, repealed the law under which three commissioners were appointed to settle the affairs of the Freedman's Savings Bank, and made the Comptroller of the Currency a single commissioner, with a salary of one thousand dollars a year, in addition to his regular pay, for performing that service. Eleven years have now been consumed in that business. The whole cost of this protracted "settlement" has fallen upon the assets of the poor depositors whose hard earnings we stolen by a ring of Republican thieves. By the act above cited all claims not presented within six months after its passage, and all dividends not called for within two years, were barred, and their amounts were to go to the benefits of other depositors. In 1883, at the expiration of this limitation, the doors were reopened under certain restrictions. The last report of the commissioner shows that the receipts during the year were $9,379.08, and the disbursements $9,001, exclusive of $1,500 deposited as security for costs in causes before the Supreme Court of the United States. Of this latter sum there was paid for dividends $1,405.19, and for barred claims under the act of 1883, $3,931.05, or a total of $5,336.24. The remainder of $3,664.76 was paid for salaries, attorneys' fees, commissions and a multitude of little expenses. That is to say, more than a third of the whole disbursements went into the maws of leeches that are sucking the few remaining drops of blood in this shameful concern. The record is revolting, but it is consistent with the whole legislation on the subject. After the ignorant depositors had been robbed by Republican laws, which took away their original security, Congress imposed on them three commissioners with $3,000 a year each, and a costly machinery of attorneys, clerks and the like, whereby a large portion of the assets were eaten up during seven years of this scandalous burden. When public opinion revolted at that outrage, then the law was changed to the present form, which. on a most limited scale, continues the imposition by like methods. And it is coolly proposed by the commissioner that Congress shall make good the stolen deficiency by an appropriation of the people's money. This recommendation is made after Republican Administrations allowed the thieves to escape without an attempt at punishment, and, indeed, elevated some of them to prominent places in the Government. Thousands of these deluded colored people either died without having received a dividend or disappeared without leaving a trace behind them. It is high time the business was wound up, and a clerk of one of the departments should be assigned to that small task without any compensation or charge against the little fund that still remains to be distributed. And Congress should at once repeal the act allowing theComptroller of the Currency an additional thousand to his salary for signing his name at the expense of these victims of rascality.-N. Y. Sun.