The Austin Weekly Statesman. (Austin, Tex.), Vol. 23, Ed. 1 Thursday, August 10, 1893 Page: 3 of 8
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AUSTIN WEKIY STATESMAN THURSDAY AUGUST 10; 1893.
WALTER SHAW -HANGED.
THE CLOSING SCENE OF A MOST
SHOCKING HANGING.
Ht Sled With tlit Nonchalance and Bravado
That Hat Harked Hii Conduct in
Prison Caning Soma of the
Witnesses for the State.
f) pedal to The Statesman.'
Houston Aug. 4. Walter E. Shaw
was hanged today at 11:80. The drop
broke his neck and he was dead in
eeven minutes. His nonchalance was
preserved throughout. He aseended
the gallows with a firm step and when
on the scaffold asked for a cigarette
which was furnished. He then spoke
for about' a minute. He said that
he was fjoing to a court where
the judge would not "S"'""
him. He forgave Sheriff Ellis but in
bitter language he invoked curses on
all his relatives and particularly one
of the witnesses. His short speech
ended he stepped on the trap with
the remark: "lam at your service."
When the black cap was adjusted he
epat out his cigarette and in 80 seconds
more he was hurled into eternity. The
petition asking for further clemency
only received one signature that of
its author F. N. Gray.
Shaw's crime was the murder of his
mother and aunt by cutting their
throats with a razor. He had beenon
a protracted spree and committed the
crime to procure money with which to
buy whisky.
Death's Doings.
Mrs. B. Y. Bandy returned home
yesterday morning from Batesville
Ark. While at home she had the
misfortune to loose her father D. V .
Luster of that city who died there
Sunday July 23 of softening of the
brain In his 69th year.
Mr. Luster was one of the best
known and universally liked men in
that section of the country where he
had lived from early youth. He was
born in Tennessee and moving to
Arkansas when a mere youth made
that his home for life. He was a k ind
and loving husband and father and
Mrs. Bandy's many friends in this
city will sympathize deeply with her
In this sad hour of bereavement.
Stanhary-Gaudaur Championship Race.
It is pretty well settled that Stau-
bury will not return to Australia
without measuring oars With Gau-
daur for the championship of the
world. Austin's guardian angel Cap-
tain Crotty is now traveling in tl.e
North and is using his utmost en-
deavors to secure the great race over
the Austin course. Oar people must
CO! ;e to the gallant captain's assis -ance
as the event would be a great
card for Austin eclipsing even the
late regatta and spreading the fame
of our lake to the four corners of the
earth. Car-tain Crotty is now taking
in the World's lair and will soon
return to Austin and if anything can
be done to secure the race our people
must all pull together to pluck the
plum.
Confessed large Judgments.
Pittsburg Aug. 4. Win. Seinple
' Jr. presidedt of the Pittsbarg and
Akron railway has confessed judg
ments aggregating $208456. A few
days ago the road passed into the
hands of a receiver and fuilure. Seui-
ple was forced on this account.
Furnaces Shut Down.
Jackson .0. Aug. 4.-The Huron
furnace went out of blast yesterday.
The Globe Iron company also ceased
operations. Oaly three of 22 iron fur-
naces which have been operated in
this county are now running.
South American News.
San Francisco. Cal. Aug. 4 Mail
advices from San Jose de Costa Rica
- Central America report throughout
the republic a financial panic caused
by the condition of the silver market.
Failures have been numerous and all
business is very much depressed. No
change is looked for until some action
is taken to render silver more ttable.
Notes of the Costa Rica bank formerly
known as Bauco de la Union are no
longer accepted in commercial circles.
Yellow fever is raging atPortLitnon
with such fatal effect that half the
copulation are victims of the d if ease.
Amone the victims are 36 physicians
sent to Port Union by the govern-
ment. WORLD'S FAIR NOTES.
World's Fair Grounds Aug. 4.
The local directory of the council of
administration and the association of
American Exhibitors are working in
unison to furnish special attractions
that will draw people and so increase
the receipts in the future.
' Today was Scotland's day and the
sound of the bagpipe with stalwart
men in kilts marching to music could
be heard and seen oo all sides. At-
tendance of members of organized so-
cieties was very large but much larger
was the crowd of Scottish-American
people residents of Chicago and neigh-
EorTng cities who made the occasion a
iniai rpason for visiting the fair.
BPThia aU rnVon the board of lady
orToLrs cave a reception in honor of
KflicersPof the VikSng in the assem-
Wy room of jhewomanVbuilding.
Gold for the Savings Banks. .
New York. Aug. 4. -It was learned
today that all the gold now on the
way to this country will not go
directinto the vaults of the national
banks Borne of it has been bought at
J sHght premium for the use of some
of the savings banks.
C0L0EED KNIGHTS.
Expel Some of Their High Officers Becaase
of Crooked Practices.
Cincinnati. Aue. 4. Upon charges
of gross neglect utter incompetency
and dishonest practices preferred by
O. M. Woods supreme keeper of rec-
ords and seals of the grand Jodge of
Colored Kaiehts of Pythias against
Supreme Chancellor E. A. Williams
that officer has been expelled by the
supreme session. The lodge also ex
pelled tne major gene cuiuiuouuiuB
T. . - i ' rt m Raw an rtf
the
Mississippi.Supreme Worthy Counselor
Rev. Isaac Derrick of New "iork and
D. W. Dempsey of Cnicago for con-
duct unbecoming Pythian Knights.
Officers elected for the ensuing year
are: 'R. M. Mitchell of Chicago su-
preme chancellor; P. S. P. Miller of
New York supreme vice chancellor;
C. D. White of Dayton supreme prel-
ate A. J. Riggs of Cincinnati master
of the exchequer; Rev. J T. Thomas of
Chicago supreme lecturer; O. M.
Wood of St. Louis supreme keepe of
records and. seals; J. D. Eagala of
Tennessee supreme inner guard; F.
White of Portsmouth O. supreme
UDlIOrUl raun virvr. i .
master-at-arms; G. C. Gray of West
Virginia supreme outer guara.
THE EAILK0AD WiR.
The Eaty Asks For Time to Bead the Inter
national's Answerr.
(Special to the Statesman.
Galveston Aug. 4. The Missouri
Texas and the Intereation-
al and Great Northern did not lock
horns today over the control of the
Galvestoii Houston and Henderson
railway. When district Judge Stew-
art opened court this morning and
a3ked the attorneys if they were ready
to eo into a hearing of the- case At
torney Hagerman of the Missouri
Kansas and Texas said he was ready.
bvt that he had not had an oppor
tunity to see the ajaswer of the defend
ants to the petition oi piainuu hdu
would suggest that the case be gone
intnfmnnrrnw lnnrniniF fl.s that Would
allow the plaintiff today to look over
me answer anu prepare a ivi'j-
Mr. Duncan attorney for the Inter -
1 nnrl ftrpnt. Northern paid
they had only completed their answer
this morning fie tnen orouKns up
the question of the approval of the
contract of the Missouri Kaunas and
Totho with the fialvestou. Houston
and Henderson by the railroad om-
inission ana saia as me commission
had refused to approve it the case of
the plaintiff was disposed of and it
was useless to go into a lull hearing of
the case.
Mr. Hagerman said he was prepared
frrk cVirtur .rnlnaivolv thnx. t.hfl Hnnrnvfl.l
of the commissioners was not neces-
srryand cut-no ngure in tne case
.liuii'p Stewart decided to CO into the
nnw tnmnrrnw tiinrniilf' null an ad
journment was taken until that time.
Fort Worth Jeweler Fails.
Fort Worth Aug. 4. W. C. Pfaef-
fle the jeweler made an assignment
today naming R. N. Denham as
trustee. The assignment was made to
secure the Farmers and Mechanics
bank and other creditors the liabili-
ties amounting to $13855. The entire
stock consisting of diamonds jew-
elry and silverware was transferred
the value of the goods being some-
what in excess of all liabilities. Two
chattel morrgages were also made to
secure the American National bauk on
certain notes described.
TEXAS NATIONAL BANK.
A 8an Antonio Concern in Charge of Bank
Examiner Gannon.
Special to The Statesman
San Antonio Aug. 4. A flury of
excitement disturbed local commercial
circles this morning when the follow-
ing placard were posted on the door of
the Texas National bank: "Bank
closed. John J. Gannon examiner
In charge." J. 8. Alexander the
president of the institution states
that feeling the stringency of the
money market he called for an assess-
ment of 55 per cent on the unpaid
stock on May 26 in order to strengthen
the bank and enable it to meet the
emergency. In response to this
call a 'committee of northern
stockholders representing shares to
the amount of 8370000. visited San Au-
tonlo last week and investigated the
books and c mdition of the bank. On
concluding they expressed themselves
well satisfied with affairs and promised
to remit their assessments as soon as
they returned home. They then de
parted. J. S. and A. A. Alexander
respectively president and vice presi-
dent of the bank representing about
$40000 worth ot stock paid
the assessment on their shares
and the business continued uuioter
rupted until 9:50 o'clock this morning
when Examiner Gannon assumed
charge of the bank. The capital stock
of the institution is $100000 with a re
serve fund of about $30000. The bank
owes $08000 to depositors and up to
today the deposits were constantly in-
creasing. MEXICO.
MONETARY LEAGUE.
City of Mexico Aug. 4. There is a
project on foot here to unite the Latin-
American nations in a mouetery league
to resist the depreciation of silver. It is
asserted that silver has dc-clir ed in
obedience to natural l.iwa yet iiie ie-
preciation is out of all proportion to
what It should be and tne debtor na-
tions should unite in order to defend
their interests against a conspiracy.
Public opinion here would favor en-
tering into a monetery league with the
Uuittd States translerring the trade
of Latin-America largely to Ameri-
cans only asking on ttie part of the
United States free entrance of raw
material.
The Vice Pissident Return's.
Bloomixgton 111. Aug. 4. Vice
President and Mrs. Stevenson and
party arrived home last night from a
trip to the Pa?ifi coast. Mr. Steven-
son leaves for Washington tonight.
BLAND'S NEW SILVER BILL
IT WILL FULLY EMBODY THE VIEWS
OF THE 8ILVEB MEN.
Bland Condemns the Law For Giving the
Secretary Discretion in Purchasing Sil-
ver Representative Henderson
Has New Coinage Ideas.
Washington. Aug 4 As soon after
congress meets as it becomes practica-
ble Mr. Bland leader of the silver
forces in the house will introduce a
bill embodying the views of the silver
men. It will provide for the repeal of
the Sherman purchasing act and sub-
stitute therefor free coinage of silver
at the present ratio of 16 to 1.
The attitude of the treasury depart-
ment in refusing to buy silver was arbi-
trary and uncalled for Bland said but
there is no ground for talk. The sec-
retary could not be impeached. The
law gave him the discretion he was
exercising and that was one of the
mistakes of the law that was as he
looked at it full of mistakes.
Representative Henderson of North
Carolina has a plan for readjustment
of the silver question that he holds
out to be satisfactory to persons who
wish to see the Democratic platform
declaration carried into effect without
creating a division in the party. As
the platform calls for equal treatment
of gold and silver aud as tome Demo-
crats do cot deem it safe to provide for
free coinage of silver he would with-
draw that privilege from gold and'
provide for the coinage of both metals
on account of the government ex-
clusively. This might be accom-
plished he thinks by passing a bill
requiring the absolute purchase of a
certain proportion of metal each
month and the coinage of the metal
purchased. Congress might from time
to time change these proportions as
the needs of the country seem to re-
quire and thus adjust the circulation
to demands.
THX AS B ANK RESUMES.
Washington Aug 4. Comptroller
Eckels has authorized the Farmer's
National bank of Henrietta Tex. to
resume business)
REPUBLICAN CAUCUS.
Rerjresentative Henderson chair
man of the Republican caucus has
issued a call "for a oaucus Saturday
evening.
PLENTY OF CURRENCY.
Washington Aug. 4. Treasury
officials say the treasury is prepared to
supply all the small currency wanted
and a lack of such currency in certain
sections of the country is accounted for
by the supposition mat all money is
scarce or bauks have failed to procure
of the treasury small notes needed for
borne consumption it is stated at tne
treasury department that there is no
likelihood of a resumption of the issue
of gold certificates until free erold
stands from $7000000 to $10000000
above the reserve.
bkhring ska arbitrators.
Washington Aug. 4. Private ad-
vices as to the movements of the Behr-
iuir sea arbitrators from 8enator Mor-
gan say it will be impossible for him
to leave Paris before Aug. 19. From
the language of his cablegram he
si ins doubtful whether the arbitrators
will finish their duties even then.
ABLK-BODIED PENSIONERS
Washington Aug. 4. It is learned
from the archives of the pension bu-
reau that Deputy Commissioner Bell
who made numerous statements con-
demning the disability pension of
Judge Long and others is himself in
the same boat. Up ' to May 31 he
drew $13 a month. The decision of
Assistant Secretary Reynolds which
placed able-bodied veterans beyond
tne pale or pensions 'was rendered
May 17. On the blst Bell resigned his
pension.
A Jealous Mexican.
Edinburg Tex. Aug. 4. A woman
named Virginia Gonzales was shot and
killed last night by Vicente Davila at
Sejara ranch thia county. Davila
was brought in by the sheriff and
jailed. After shooting the woman Da
vila tried to blow bis braius out but
unfortunately the ball only took his
jaw aud ear oil. Jealousy was the
cause.
DEVOLUTION IN SAMOA.
Ti e Tribes of Malletoa and Hataafa Meet on
the Battlefield.
Apia Samoa July 29. War broke
out July 7 between Malietoa's and
Mataafa's forces but the warships of
the three powers interfered and stop-
ped the lighting. Mataafa and his
chiefs surrendered. Mataafa's loss was
30 killed and 20 wounded. On July 7
the royal forces started for Mataafa's
camp. They captured tne outposts.
Next day the first blood was shed.
Malietoa carefully planned the attack
and but for the (accidental discharge
of a gun which precipitated the con-
flict Mataafa's lorces would have been
extermiuated. One section of the
kind's army was sent through the bush
witn orders to connect wall another
section. A third section uccompauied
by an armed fleet of 15 boats went
along the beach.
At a plantation ueionizin to a tier-
man firm the followers ot Ma idto.i aud
the adherents ot Mataafa met. Hand
shakes were indulged in aud Kava ex-
changed. It teemed as- it inendiy relations
would be re-established out a fero
cious old warrior named l'atu urged
the king s men back into the ranks
when somebody fired a shot and the
fight commenced. Firing hi came gen-
eral and deadly. Wataaia"s men were
urged to a stoue wait a lir;l distance
into the bruMi tiutv tney m.rde stand
and Muli tou's iueu retireJ. When
they attacked ti e place nrxt morning
Mataafa and In in. n had fled.
Mataafa and followers got away in
boats to the adjoining island of
Mouoho.
On July 10 the British man of war
Katoomba arrived bringing joint iu-H
gtructions from the powers that the
rebellion must be put put down. The
commanders of British and German
warships and consuls of the three
powers held a consultation and decid-
ed to demand Mataafa's surrender and
the British and German warships
sailed for Manoho. They arrived
July 23 and sent word to Mataafa that
if he did not surrender his camp would
be shelled and Malietoa's warriors
landed. A quarter of an hour before
the time was up Mataafa and his
chiefs surrendered.
G0NGBESSIONAL COMMITTEES.
Speaker Crisp Will Give No Lidieatioa of
Their Composition.
New York Aug. 4. A World
Washington special says: "Speaker
Crisp authorizes the statement that
there is no basis whatever for any one
ot the many reports which have been
circulated regarding the appointment
of the chairmen of committees. He
has not yet decided upon a single ap
pointment and will not do so for sev
eral days certainly not before the
arrival of the president and Secretary
Carlisle and probably not until the
caucus shall have officially desig-
nated him as its candidate
for speaker. He doeb not
expect to announce the committees
until 8 or 10 days after organization on
Monday. He mav make an exception
of the committee on coinage but has
reacned no suoh determination as yet.
The speaker's sole aim is to do only
that which will be of the greatest ser-
vice to the party. To accomplish that
purpose he feels the' necessity of ear-
nest co-operation with the administra-
tion and he has not seen either the
president or secretary of the treasury
for several weeks. He will not at-
tempt to reach a conclusion until he
shall have an opportunity to consult
with them as well as with leading
members of ths house upon whom be
must depend for support on the floor.
The truth is that all depends
upon the tone of the message'
If Mr. Cleveland shall confine his re
commendations strictly to repeal with
no hint of subsequent legislation in
the direction of his be-metalism. it
might be considered wise to put Cock-
ran against the redoubtable Bland In
which event Cochran would leave the
ways and means to become chairman
of the coinage committee. If on the
other hand the president should deem
a more pacific policy advisable it
might be considered wise to permit
Mr. Bland to retain his rosltion it he
should care to do so despite an oppos-
ing majority in his committee as the
composition of the ways and means
committee will be affected by that of
the coinage committee. All depends
however upon the president's policy
as outlined in his message.
HAWAII.
POLITICAL MATTERS.
Honolulu Aug. 4 Chas. Creigh-
ton of whom ah apology was demand-
ed by the provisional government for
insulting Minister Blount has not yet
replied since the rejection of his
proffered explanation and apology.
The Royalists declare he will refuse to
apologize further and he still
claims that Blount was not offended
and the governmeut is persecuting
'him. i
Professor W. D. Alexander special
Hawaiian commissioner leaves today
for the United States. Yesterday in
special session the councils went over
his Instructions which are Very gen
eral in their nature and are virtually
as before stated a carte blanche to
make the best terms circumstances will
Eermit with the United States for the
eneflt of Hawaii and good govern-
meut. Alexander has general iustruc-
tions to insist on annexation first and
last but to accept a protectorate if no
Other alternative offers. The pro-
visional government has introduced a
bill In council to vest the title of crown
lands in the government and provide
for their distribution and utilization
among the people.
The bill will likely pass. The bill on
military has been amended so as to do
away with a regular army and make
the .National guard a volunteer force.
County and district Attorneys.
Special to The Statesman.
Fort Worth Aug. 4. The annual
convention of the county and district
attneJrys of the state of Texas finished
its labors and adjourned at noon after
having decided upon Dallas as the
next place of meeting. The committee
on constitution and by-laws submitted
its report. A number of resolutions
referring to amendments of the exist
ing criminal laws which would enable
the prosecuting attorneys to more suc
cessfully cope with the violators oi the
criminal law and their conviction were
adopted. '
Wisconsin Sank Closed.
Milwaukee Wis.. Aug. 4. A spec
ial from Colby Wis. says: The Ex
change bank closed its doors at noon
today; capital stock $3000. The fctaet-
went showed that the bank owed de-
positors 250C0 .
Savings Bank Will Beopen.
Akron O Aug. 4. Fifteen hundred
depositors of the Akron Havings bank
last evening unanimously agreed to a
plan whereby the institution will be
enabled to open its doors for business
Monday. 1 he plan provides for the
payment of 25 per cent every 90 days.
Insnrance Company Wind Up Affairs.
Denver Col. Aug. 4. Charles I).
Mason has beea appointed receiver of
the Equitable Accident Iosurance
company . Outstanding risks amount
ing to $uu-Ju0u0 have been re-insured
with the Union Casualty company.
The company has been closing up its
branches for some time preparatory to
taking this f-tep.
Will Keep Their Lands.
Guthhib O. T. Aug. 4. The Osage
Indians have refused to treat with the
government for a commission for
cession oi their retervatlon of nearly
2.000000 acres across the eastern end of
the Cherokee strip.
RELIABLE IX lU
THE GREAT LIVERAND STOMACH REMEDY.
urea all disorders of the stomach liver bowels kidneys bladder nervous-
diseases loss of appetite headache constipation costiveness indiges-
tion billiousness fever piles etc and renders the system less liable
to contract disease.
DYSPEPSIA.
R ad ways Pills are a cure for this complaint. They tone up the in-
internal secretions to healthy aotlon restore strength to the stomach
and enable it to perform Its functions.
?ctce 26-Cent Per.Box. Sold byalOniggisU.
SEFABTMENT DOINGS.
Record of Yesterday's Transactions at the
Capitol.
SECRETARY OF STATE.
Chartered The Crews Ladder Man-
ufacturing company of Ladonla Tex.;
capital stock $50000. Directors: D. H.
Crefa J. l. Falson D. E. Waggoner
W.L Reed and K. M. Estill all of
Fannin county.
Italian Soda Water association of
Galveston capital stock $35000. Di-
rectors: C. Casentinl C. Nloollni A.
Faceola V. tiuzli C. A. Solare and P.
Tolomey.
First rresoytenan cnuron or Han
Antonio Tex.; estimated assets $80000.
Trustees: I. P. Simpson George
Paschal Sam Benuott and KuBsell
Norton all of San Antonio.
comptroller's department.
The comptroller yesterday regij-
trred $15000 water works bonds of the
oity of Henrietta.
FROM SECRETAEY CAELISLE.
The Bsoords of Coinage of Silver and Acts
Relating Thereto
For public information Mr. Carlisle
Issues the following timely facts and
views for which men of figures aud
finance will thank him:
The operations of the United States
mint commenced in 1792 and from
that time to 1873 a peiiod of 81 years
the total amount o! silver dollars
coined was 8045838. In 1873 the
coinage was stopped by act of on-
gress but in lata it was resumed
under the so-called Bland-Allison aot
by the terms of whloh the secretary of
the treasury was directed to purchase
and coin into standard silver dollars
of 412 1-2 grains each not less than
$2090000 worth nor more than $4000-
000 worth of silver bullion eaoh month
and between the dates of that act and
July 14 1890 a period of 12 years
there was coined $378100793. in ad
dition to this there has been coined
from trade dollars $5078472 and
from the seigniorage of bullion pur-
chased and coined under the aot of
July 14 1890- the Bum of $0011109
making the aggregate ;iusu34 in
full legal tender silver money Issued
by the government since 1878. Of this
amount only $58016010 were In actual
circulation upon the first day of the
present month the remainder being
neld in the treasury as the part of the
assets of the government or being rep-
resented by outstanding certificates.
The aot of July 4 1800 required the
secretary of the treasury to purchase
4500000 floe ounces of silver bullion
each month and it provided that be
should continue the coinage of silver
dollars at the rte of $2000000 per
month until the 1st day of July 189i
and uoder this act there have been
coined $29408461 which makes the
total coinage of silver dollars under
all acts since 1878 $110294835 or more
than 60 times as much as was coined
durinsr a previous period of 81 years.
In addition to the silver bullion
purchased by the government since
1838 and coined as above stated the
secretary of the treasury has pur
chased under the act of July 14 1890
aud now holds in the vaults of the
treasury uncoined 124292632 fine
ounces of silver bullion which cost
the people of the United States $114
299020 and is worth today at the
market price of silver $103411880
thus showing a loss of $10888634. By
the terms of the act the secretary was
required to pay for all silver bullion
purchased by the issue of new United
States treasury notes payable in coin
and it provided that upon demand of
the bolder of any such notes they
should be'redeemed in gold or silver
coin at the discretion of the secretary
"it being" in the language oi tne aot
"the established policy of the United
States to maintain the two metals on
a parity with each other upon the
present legal ratio or such ratio as
may be provided by law." In the
execution of this dolared policy of
congre-'S it is the duty of the secretary
of the treasury when the necessity
arises to ex- rcise all I he powers con
ferred upon him by law in order to
keep the government in a condition to
redeem Its obligations In such coin as
may be demanded and to prevent the
depreciation of either as compared
with the other.
The records of the treasury depart-
ment show that during the thirteen
months beginning May 1 1892 and
ending May 31 1893 the co'.n treasury
notes Issued for the purchase of silver
bullion under the act of July 14 1890
amounted to $49061184 and that dur.
Ing the same period the amount of
such notes paid iu gold was $17745-
173. It thus appears that all the sil-
ver bullion purchased during that
time except $2216011 worth was paid
for In gold wtiile the bullion itself Is
stored in the vaults of the treasury
and can neither be sold nor used for
the payment of any kind cf obliga-
tion. How long the government shall
be com nelled to purchase silver bull
ion and increase the public debt by
issuing coin obligations in payment
for it Is a Question which conzrees
alone can answer. It Is evident that
if this policy 1s continued and the
secretary of the treasury shall be
compelled to imce bonds or other-
wise increase the Interest bearing
publlodebt it will be done for the
purpose of procuring gold with which
to pay for silver bullion purchased
under the act referred to.
ETABLE.
WEEKLY TRADE REVIEW
B. 0. Don tt Co. on the Condition oi the
Business of the Country.
New York Aug. 4 R. G. Dun &
Co.'s Weekly-Review of Trade will
say:
Demoralization in speculative mar
kets has been followed by a more
healthy tone. In the money market
there has cornea singular sense of re-
lief notwithstanding actual Increase
in present embarrassments at most
amounting to paralysis of exchange
between the ohief commercial cities
and of many 1 adustrial works because
even 2 per cent premium for currency .
falls to secure what is needed for pay
ment of wages.
Hopes are nevertheless fixed on ships
bringing over $11000000 gold across
the sea and on the extra session of
congress whioh begins Monday. Sev-
eral of the oldest and boldest operators
at Chicago have been crushed under
pork but the instant increase of for
eign purchases convinces that the
markets disaster has brought a certain
measure of relief.
The monetary stringency which has
at last crushed speculations in wheat
and in hog products has been caused
in part by their prevention of exports
anu their absorption of enormous cap
ital in carrying unprecedented stocks
of produce which if sold in time to
foreign nonsuuiers would have brought
gold enough to prevent much evil.
Wheat recovered about 4 cents and
pork about $3 or more at Chicago and
orders for exports caused sudden ad
vance In ocean freights. With the
great surplus of wheat brought over
from previous ears the country will
be able to meet all demands even
though the crop proves small enough
to justify considerable advance from
previous prices.
With the great crop corn almost as
sumed unusual accumulations of pork
and hog products will be safer on the
ocerin tlian in Chicago and more hope-
iui to tne country.
Stocks at the lowest point this week
averaged a little more than $41 per
share but it is yet a long way down to
the 'prices of 1887 averaging at the
lowest $!ia per share and the contrast
between the condition and earnings of
railroads now and then is greater than
the difference in prices la anxious
elTorts to fortify themselves the banks
throughout the country locked up a
large amount of currency aud deposit-
ors whp have drawn their ancounte are
also keeping out of use many millions.
As the entire circulation of bills less
than $5 each is but $71000000 while
depositors In Savings bunks number
nearly $5000000 the withdrawal or
mere withholding of the ncoustomed
deposits by a considerable proportion
of them has put out of the market
many of the small notes. The demand
for these has been so great that ship-
ments of silver have in many cases
been gladly received and the difficulty
of getting currency for payiug em-
ployes causes a premium for currency
in many cases ranging as high as 2
per cent.
The closing of shops aud works for
lack of orders is an overshadowing
fact. Sales of wool are not a third ot
last year's and since the new clip the
decrease has been 44795270 pounds or
about 40 per cent. Prices are weak
and yet so low the decline seems un-
likely. Carnegie and some other iron
works have almost ceased producing
and as yet the demand brings no fur-'
thcr stimulus though prices in this
line are also so low that most makers
prefer to stop than to take lower.'
In boots and shoes the situation is
nearly he same Eastern shipments
falling off about a quarter. Gold im-
ports may help to revive credits upon
which a great share of busi-
ness depends. The volume of domes-
tic trade indicated by railway earn-
ings is but 6 per cent smaller than last
year. While the failures of the week
number 436 against 100 last year a
great proportion of them were at the
West and it is cheering to note that
comparatively few of importance oc-
cur except in connection with specu-
lative operations.
Failures during the week number
430 in the United States against 100
last year and 84 in Canada against
24 last year. There were three fail-
ures of a million or more two at Chi-
cago due to the break in the pork
deal and one in New York.
MORE CITY FINANCES.
Money Expended Daring the Month on the
Water and Light System
Following Is the monthly statement
of City Clerk Morris showing the
draftB on the waterworks and electrio
light fund during the month of July:
Engineering department 149860
Bernard OirrlRan acROuot dam 8i igj na
Ri'piiriDg brtalr. laborers o.t52 10
Expert to examine B. Corrifiau's final
euimate ja m
Demurrage 9 jjj
Totl1 18281 70
tnlcide of a Broker.
Chicago Aug. 4. Nelson Vankirk
a board of trade operator shot him
self to death this af ternon in his office
In the Rialto building. He was 75
years old and of the firm of Vankirk
& Osten which went 'bankrupt about
a month ago. After the failure he re-
organized. Today he was again forced
to the wall. Going to bis office he
killed himself.
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The Austin Weekly Statesman. (Austin, Tex.), Vol. 23, Ed. 1 Thursday, August 10, 1893, newspaper, August 10, 1893; Austin, Texas. (https://texashistory.unt.edu/ark:/67531/metapth278657/m1/3/: accessed July 18, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu; .