m "3 T'Nl TTTN A TTTV H Hi( tt m A r A O VOL. IX. NO. 105. PHILADELPHIA, MONDAY, JULY 12, 18G9. DOUBLE SHEET THREE CENTS. 1 llM II I FIRST EDITION THE DEMOCRACY, THEIR GUKBH1T0R1AL MATERIAL The ttaiMlMnlcs for the Nomination raclccr, Cstas, Hancock, and McCandlos. On Wednesday the Democratic State Convention tor nnnf'.natlng candidates for Governor and Associ ate Juflge of the (Supreme Court assembles (n the nail oV tlie House of Representatives, at Ilarrlsburg. Below we Rive sketches of the aspirants for the gubernatorial nomination, In order Dial our readers may know what sort of material is at the command of the Democracy of the State of Pennsylvania. II OX. ASA PACKER. UIm Knrly I.lfe nnd Pioneer I'.xperlenePN. Asa raeker was born In Uroton township, New London county, Connecticut, In the early part of tho ycarlROO. Ills father Is said to have been a man of Strong sense, InUastrlons, economical, and Indepen dent in character, yet never very successful in busl effl, although his grandfather had been the most prosperous man in his native town, carrying on the business of farming, tanning, and manufacturing of shoes at one and the same tlir.e. The limited means of his parents, together with the lack of opportuni ties in the neighborhood, prevented him from ac quiring much of an education, but he made the best of his time when the district school wa9 In session during the winter. As soon as he was old and stout enough to work, he obtained a situation in a tannery st North Htonlngton what a pity the Democrats did not take him up, instead of Seymour, that tanner might have been pitted against tanner In the last Presidential race 1 where ho remained until tho death of the proprietor, who had rep mod tho utmost confidence In his business capacity and iutegrity. A year was then passed upon tho farm of a John Brown, otherwise unknown to fniie. Mr. Brown was an old-fashioned antl-Federallst politician, and from Judge Parker's early associations with him his enthusiastic biographers have traced his present Democratic amiiatlons! A yetirut home then inter vened, during which he attended school; and at the end of it, being at that time scarcely seventeen years of age and an orphan, he was ready to start out Into the world. In 1822 he arrived In Snsquehunn i eounty, Penn sylvania, with his entire outfit c-mtalned iu tho knapsaek which he carried on his b.i :k. He appren ticed himself to a carpenter, and tlxert his resi dence at Sprlngville. Ah soon as he hud completed his apprenticeship ami become possessed of some means of his own, he purchased a small lot of wild land on the upper water of tho Kus luehanna, and Fettled down upon it. IIIh Removal to the Lehigh Taller. When ho abandoned his farm, in 1-H3, the country round iibnut had assumed a somewhat different aspect. In the wilderness he had built up a comfort able home; but during the ldlo winters ho had frequently journeyed a hundred miles on foot, , through the nigged country which h! retches between the Susquehanna and the Lehigh, to the nearest point where his labor would command a ready cash reward. The evidences of exh .(.listless wealth which were Just being developed In the Lehigh . Valley Impressed him with the belief that a change of residence to this locality would ail' rd a wider and more prolltable Held for his labor. Accordingly, at the age or twenty-seven, ho agilu transferred his home, and settled permanently In the Lehigh Valley, with a capital of but a few hundred dollar to start with. During tho summers of lsxi and is:u he acted as master of his own boat, while engaged iu transporting coal from Munch Ch.nik to l'lilludel lhiib He displayed so much energy at the very out net, that he soon uttraoted the not Ice of the managers of, the Lehigh Coal ami Navigation Com pany, and was enabled to associate him self with them on very advantageous terms. Ills success and prospect s were so encourug tog that his brother, It. W. I'aiker, was persuaded to leave Connecticut; and, aided materially by an uncle, they established themselves iu the general merchandise business iu Maueti Chunk, in 1435. tttartlug with a cash capital of only $.M), their busi ness was rapidly extended, until it embraced not only tho ordinary mercantile traim-itlons, but the building of dams and locks for the 1. :higlt Coal and Navigation Company, the working of coal mines leased from this company, aud dually the working of Mr. Packer's own mines near Ila.Iotun. TUey were also engaged In the shipping of coal to Philadelphia and New York, on the Kchaylklll, as well as on tho Lehigh. Ill (.rem Uuilway Enterprise. About the year 1S50 Mr. Packer catered seriously upon the task of accomplishing tho greatest business achievement of his cureer, the building of the Lchiglt Valley Railroad. Although tho Lehigh Coal aud Navigation Company had extended their operations until they had assumed a gigaulin stale, ho had striven in vain to Impress the managers with the ne cessity of Increasing tluir facilities fur reaching the, market by .the construction of a railroad. Iu 1810 the Delaware, Lehigh, Schuylkill, au 1 Susquehanna Railroad Company, projected by Jvl.vard it. Diddle, fead obtained a charter, Its proposed route embracing that section through which Mr. Packer was so anxious to sec a railway constructed. No surveys were made until the fall of 1850, and when In April, 1861, but seventeen days ot the limit fixed for the commencement of the work wero romaiutug, not a shovel bad entered the grot-ml. Mr. Packer then became one of the managers, aud on tho Bums day the board, to avoid in i uunulllng of the charter, authorized do grading a U. lie of the route, near Allentowii. .In October fol lowing, Mr. Packer became omjpt of a controlling portion of the stuck, and suhsuuently submitted proposition to build the road from Munch Chunk to KumUid, a distance of forty-six tulles, for a considera tion, to lie paid iu the Htock and hoods of the com pany, the name of which was uow changed to tho Lehigh Valley i:a;lroacl Company, to suit Its extent and true Held or work. Mr. l'ueker's proposition was accepted, ami he commenced work in Novum ber, 1854. Voder his persomd supervision it was pushed with greut vigor, and although he received only Stock aud bonds in payment, and was subjected to pressing flnuiuiul einUurriiKNiiienta in cousu queuee, yet his business reputation uud tho advances of connecting roads w hose Intercuts would be greatly forwarded by Its eompletlin, enabled him to finish and deliver to the eomputi.v tho eutlre line in Bcntember, Is.'. The success whih attended the company from tho outset laid the foundations of Mr. Packer's princely fortune, whU-H cannot be more definitely stated than at something between llfteen and twenty-live millions of dollar. Iu 1805 he inado a handsome return for his wealth, by founding ut South Bethlehem the Lehigh l uiversity, for thees- tabllshmeut of which he donated a inagiUtlceut park, sixty acres In extent, and a round half million of dollars in money. With the scope, prospects, and lrosperUy of this instltutlojj our readers have quite recently been made familiar, aud we need not en laige upon them here. Ilia Political Career. W'liils engaged in his extensive and absorbing luslness projects, Mr. Packer has devoted much of lilt time ud attention to political affairs. For several years he was a member of the State Legislature, his service In that body terminating In 1843. He was then elected Judge of the County Court, holding the position five years, and In 1868 he took his seat In the lower house of Congress as member for tlio Thir teenth district, holding It until 1H07. During all of this period, as at present, he was an earnest, thorough-going, and consistent Democrat. When the Democratic National Convention assembled at Tammany Hall, In New York city, on July 4, 18 Judge l'ackcr'8 name was presented to th'at body by the Pennsylvania delegation as a candidate for tho Presidential nomination. With but slight variation ho received the vote of his own State, and of that alone, during the first fourteen ballots, after which bis name wan dropped for that of General Hancock. GEXEIiAL GEORGE W. CASS. Illn Enrly Idle nnd Education. George W. Cass was born In isio, In Muskingum county, Ohio, his father being a farmer of Now Eng land birth, hs was also his mother. There being nothing more than elementary schools In tho neigh borhood, he was, In 124, sent to Detroit, where he remained until 1tt27, as a pupil of the Kev. Ashbel Wells, and a member of the family of the late Geue ral Lewis Cass, at that time Governor of the Terri tory of Michigan. He then obtained an appointment as a cadet to the United Stales Mllliary Academy at West Point, from which institution ho graduated iu 18112, standing at the head of his class In some of the principal studies, and among the distinguished five in the general Academic studies. HI mathematical attainments were so thorough that ho was, lmmedi ately, on graduating, tendered a position in the Academy as an assistant professor In that de jurtuient; but this honor he declined, to enter upon a more active field. Ills Brief military Cnreer. ne was ordered to report for duty to General Scott, and, although not yet regularly commissioned, was by Mm placed in command of a newly recruited infantry company. At their head he started for the army of General Twiggs, on the Northwestern fron tier, to engage In the warfare against the Indians under Black Hawk. But before reaching the Held, he was thrown out of his command by the consoli dation of several companies whose ranks were decimated by tho Asiatic cholera. He was then transferred to the Topographical Knglneers, and, alter six months of service with It, to that of Mili tary Engineers, In which he remained until October, 1S30, when he resigned his commission and retired from the army. Ills present title of "General'' Is entirely ornamental. Ills Business Cnreer. At the same time he was appointed by President Jackson one of the Civil Engineers on the great Na tional Road, continuing to serve as such until its completion through the States of Maryland, Pennsyl vania, and Virginia. While engaged iu this service he constructed a cast-iron bridgo over Duulup's creek, a tributary of the Moiiongahcla river, the first of the kind ever built iu the United Suites. Through his Instrumentality a company was organized for the improvement of the navigation of the Monongahela, he serving as engineer of the company, and subse quently as one of the Board of Managers, until, after many financial vicissitudes, he witnessed, In 1S14, the accompliHhrrcnt of its objects. On the completion of tho Monongahela Improve ment to Brownsville, he organized the first steam, boat line on that river, and also the first fust trans. portntlon line across the mountains, by relays of teams, similar to stage lines, thus building up a large carrying trade between the East and the West via the Monongahela river uud Pltlsburg. In 181'J he established the Adams Express across the mountains from Baltimore, elfected the consolidation of all the Adams Express lines between Boston and St. Louis, aud Bouth to KU-hinond in 1854, and the year follow ing was elected President of the consolidated com pany. In January, I860, he was elected President of the Ohio and Pennsylvania Itailroad Company, then completed to Crestline. Two different corporations were engaged in constructing the roads between Crestline and Chicago, but they had exhausted all their resources, and the work had come to a stand still. To avert the misfortune of seeing the control of the line between these two points pass into tho hands of Cleveland and Buffalo capitalists, which wus Imminent, a grand consolidation scheme was conceived and accomplished within three months, In spite of decided opposition in the boards of man agers and among the stockholders. Ho became the President of the consolidated organization, known as the Pittsburg, Fort Wayne and Chicago Hallway Company, and remained at its head until It recently passed under the control of the Pennsylvania Ceu Iral Company, with the exception of a short Interval about ten years ago, when ho voluntarily withdrew. While cnguged in this extensive railway enterprise he has, of course, amassed a la'ge fortune, and In addition to that has achieved a high reputation as a railroad manager. IIIh Political Cnreer. We lxlleve that General Cass has never held any public position, or aspired to any until within the past few years, when his name has neen frequently as at pi escnt,, associated with the Governorship o. the State. But for a long time he has been quite prominent as a Democratic politician, participating in their Mate and National Conventions, and wielding a considerable influence over the rank ami tile of the party In the western part of the State, iroin which section principally will come the delegates who will press his name for the nomination in the approaching convention. He still acts as President of the Pittsburg, Fort Wayne aud Chicago Railway Company, although tho duties and responsibilities of the position have been mate rially decreased by Its recent lease to tho Pennsyl vania Central. Ills present residence is on the lino of the road, about eleven miles below the city of Pittsburg. G EX. WIXFJELD S. HAXCOCK. Ills Early Life. Wintlrld Scott Hancock was born on the Wth of February, 1824, In Montgomery county, Pennsylva nia, bis family having long resided at Norrlstown, where his father died recently at a good old age. After receiving a preliminary education, he was ap pointed to a cadctsulp at the United states Military Academy at est Point, Hi 1840, when he was six teen years of age. He graduated at this Institution In 1844, ranking as eighteenth In his class, according to the arbitrary wuy in which relative merit Is there determined. After graduating he was commissioned as a brevet second lieutenant in the tith Koglmeut of Infantry, but it was not until the opening of the Mexican war that bo was afforded an opportunity for displaying his soldierly qualities. Ill iWlliiiiry Career llelure the Itebrlllon. Iul84 he accompanied his regiment to Mexico, and won promotion by gallant conduct on the field of battle. At the close of the Mexican war he was on duty for a time on the Northwestern frontier, aud was Kulwequcutly stationed for some time at the Jefferson Barracks, at St. Louis, Missouri. In 1855 he was appointed an Assistant (Quartermaster, with the rank rf Captain, being ordered in tho following j ear to Florida, then to the Territory of Utah, and finally was transferred to duty on tho Pacific Coast. 1IU Mllllttry Iteeord lliirlnK the Rebellion. When the Bebelllon broke out. Captain Hancock, iu rehpi.use to his orders, reported for duty at the national capital, and on tho 83d ol September, 1801, he was made a Brigadier-General of Volunteers, and UHslgned to duty as a brigade commander In the Army of the Potomac. This promotion opened the way for a brilliant and euvlabio career In the Held. He served throughout the war with untiring devo tion, participating, with more or less prominence, in all the battles of that historical organization, attain ing the rank of Mujor-Geueral of Volunteers, and ultimately that of Mnjir-Gcneral in the Regular Army. The first action In which he figured con- splcuouMy was the battle of Williamsburg, May 4, lwij. n which, br a brilliant and successful bayonet charge, he closed the operations of the day. At the battle of Antletam, September IT, 1882, he succeeded to the command of Richardson's division, when that general fell, mortally wounded. I In the battle of FrederlckBburg, Dec 1, 182, and again In the battles of Chanrcllojsvtllc, May 8 and 4, 1863, he figured conspicuously as a division com mander; and when, on the Ssth of June, 181, the command of theArmy of. the Potomac was conferred upon General Meade, he was placed In command of the 2d Corps, having previously been promoted to the rank of Major-General of Volunteers. When the news of the action of July 1, 1863. near Gettys burg, reached Meade, with tidings of the fall of Rey nolds, he ordered Hancock, who was ranked by both Howard and Sickles, to hurry to the front, assume the command, and decide the question of advancing or retreating. When he reached the scone of the conflict, which at this stage was disastrous to the Union troops, Hancock sent back such a report as determined the eommuudlng General to advance with his whole army, and tho tide of battle was turned on the 3d, but not until Han cock had been so severely wounded as to mako It licseNnary for him to retire from the Held. When, In March, 18K4, Graut was appointed Uenoral-tii-Chicf, and assumed a personal direction of the Army of the Potomac, Hancock, recovered apparently from the effects of his wound, was rcstjred to the com mand of the 2d Corps. He subsequently acted a consplcuoi.B part In the battles of the Wilderness, Way, 18C4; in that of Spottsylvauia, May 10, where he captured the Rebel General Edward Johnson's division of 3ioo men, together with 80 guns, sending this announcement to General Grant: "I have fin ished up Johnson and am going luto Early;" con tinued with his command In the passage of the North Anna and the attack on Petersburg, In June following; and finally sustained severe repulses, and was forced to retreat from Ream's Station, In August, and Hatcher's run, In October, because of his iso lated positions and the lack of reinforcements. Still suffering from his Gettysburg wound, he soon after relinquished the command of the 2d Corps, and came North to recruit aud organize a new corps, to be known as the 1st. Ilia Pollilco-itlllltnry Cnreer After Ihe Re bellion. After the close of tho war, General Hancock was promoted to a major-generalship In the regular army, his commission bearing the date of July 26, ls66, for his gallant and meritorious services. He was employed in various commands after the cessa tion of hostilities, but did not appear prominently i .;lcrc the public, until at last he fell a victim to the evil genius of Andrew Johnson. The executive order of the latter functionary removing General Sheridan from the command of the Fifth Military District, embracing the States of Louisiana and Texas, because of his faithful enforcement of the provisions of the Reconstruction acts of Congress, was dated August 17, 18C7. In that order, Sheridan was banished to the Department of Missouri, Thomas was ordered to take tho command of the Fifth Divl- rlon, and Hancock that of the Department of the Cumberland. General Grant expostulated with the President against the proposed clianges, alleging that there wero "military reasons, pecuniary reasons, and, above all, patriotic reasons," why the change should not be made. The precarious state of General Thomas' health served to relieve him from the disagreeable duty of superseding Sheri dan. Then, on August 20th, came a Presidential order, which was duly promulgated and carried Into effect, assigning Hancock to the Filth district and transferring Sheridan to the command of tho De partmeutof the Missouri, for some time previously held by the former. It was not until tho 29th of November that General Hancock assumed the dis charge of the duties of his new command, which he did In an order In which he set forth the principles of the new regime of the supremacy of the civil law, announcing that "tho great principles of American liberty still are the lawful Inheritance of this people, and ever should be." A change for the worse was manifested at once. The slumbering embers of Rebellion again broke forth spasmodically, and Loui siana and Texas once more became unsafe for loyal men. The troubles In the district were still further increased by an order issued December 8, in which General Hancock revoked an order of his predecessor declaring that none but legally registered voters, and all such, wero eligible fdr Jury duty In Loui siana. By this order the trial by jury was henceforth to be "regulated and controlled by the Constitution and civil laws, without regard to auy military orders theretofore Issued.'" The next step taken by General Hancock towards giving "my policy" full sway and swing in his command was by an order Issued Jan uary 1, 1868, in which he totally disclaimed the right, under the Constitution and laws of the two States aud the acts of Congress, to exercise In any degree judicial functions or "arbitrary power such as be had been urged to assume" by certain appli cants for special Interferences In their behalf with the civil courts. Again, on the nth of January, he fulminated another principle of "my policy," by set ting aside the memoranda distributed by General Sheridan In May, 1867, which declared disqualified as voters all persons who had held civil, military, or naval positions under State or national authority. previous to 1801, and had subsequently engaged In rebellion or claimed protection of foreign powers, as had been extensively done In 1802 and 1804. Geueral Hancock declared that he dissented from the con. struct ion placed upon the reconstruction acts by his predecessor, and ordered the registers to be guided solely by their own Interpretation of the laws and the fourteenth constitutional amendment. Still again, on February 1, General Hancock removed from office several aldermen of New Orleans who had ordered an election In that city, In contempt and defiance of his pronunclamentos. On February 27, this last order was revoked by command of General Grant. General Hancock, having thus contributed every, thing in his power to render null and void the recon struction acts of Congress, and regarding his oppor tunity for usefulness in that command as at an end, requested to be relieved. In this he was gratified on March 28, the salueorder assigning him to the com mand of the Military Division of the Atlantic Presi dent Johnson, however, would not permit hira to pass into momentary obscurity without; an effort to prevent it, aud he accordingly sent to Congress a re quest that General Hancock be tendered a vote of thanks as the Second Washington, in return for his bold struggle In behalf of the supremacy of tho civil over the military law. All these events had fully prepared the way for General Hancock's name to be presented to the Tammany Convention as a candidate for the Democratic leadership in the Presidential campaign of 1868. He started on the first ballot with 33tf votes In the convention, and on the twentieth ballot received 142)v, being then the highest on the list, but lacking 70 of the number necessary to nomi nate. On the twenty-second and last ballot, before the result was announced and tho Seymour stain, pede began, he still retained 90 votes, represent ing 181 faithless adherents. GEX. WILLIAM McCAXDLESS. Illn Cnreer before the War. William McCandless was born In Philadelphia, on tho 20th of September, 1884. He was educated In the public schools .of the city, and upon leaving school entered the machine shops of Richard Nor rls it son, as an apprentice. After having served a term of five years, he served as an engineer on some of the Western railroads. Having a decided taste for the law, he returned to his native city and read law In the office of Lewis C. Cassldy, Esq. In 1858 he was admitted to the bar. Ilia Career During the War. Under the cull for troops In April, lbfli, lie en listed as a private In Captain Timothy Mcaley's com pany, and when the regiment was recognized as the Second Regiment Pennsylvania Reserves, Mr. McCandless was elected Major. In October, 18:11, npon the promotion of Lieutenant-Colonel Albert Magllton to the Colonelcy of the Fourth Regiment, Major McCandless was elected and commissioned Lieutenant-Colonel, and upon the retirement of Col. William B. Maun assumed command of the regi ment. In the Peninsular campaign he commanded his troops with skill, and on the first of August, 1862, was promoted to the Colonelcy for gallant and meritorious conduct. At the battle of Bull Run he was severely wounded and carried from tho field to Washington. He rejoined his regiment at Sharps- burg and participated In Burnslde's campaign. In Meade's campaign, Colonel McCandless com manded the First Brigade of the Reserve Corps ; and during the absence of General Crawford in the win ter of 1863 and the following spring, he commanded the division. On Thursday, the 6th of May, W4, when the First Brigade was cut off and surrounded In the Wilder ness, Colonel McCandless was captured, but in tho confusion that ensued he eluded his captors and made his escape through the denso forests, aud arrived safely In camn at Spottsylvauia Court House. Whilst leading his brigade In a charge on Sunday evening, he was wouudeu In the hand and disabled from further service. He returned to Philadelphia, and was subsequently tendered a Brigadier's com mission, tint evidently fooling aggrieved at the fact of his services not having been recognized before, he wrote a pretty sharp letter to tho then Secretary of War, in the course of which he said that he be lieved the true position of a citizen was at home. IIlsi Pollt icui I Cnreer After the War. He then resumed the practice of the law and soon obta'ned a lucrative business. He was principally Identified with the Illicit whisky cases In the Uulted States courts. In 1860 he accepted tho Democratic nomination for State Senator In the First district, and was elected by a handsome majority over the Republican candidate, Jeremiah Nichols, notwith standing that at the previous election tho Republican candidate had secured a heavy majority. While at Harrlsburg he occupied a leading position In the ranks of his party, and frequently participated In debates upon the more important questions of the day. THE SINKING FUND. Secretary Routwrll's Policy for the Reduction of Our National Debt. The Sinking Fund of the Treasury Department was established under the fifth section of au act of Congress approved February 25, lHilj, popularly Known as the "U'gal Tender act." That section provides! That, nil duties on Imported goods shall be paid Iu coin or notes payaole on demand heretofore autho rized to be issued and by law receivable In payment of public duties, and the coin so paid shall beset apart as a special fund, ami shall lie applied as fol lowe: First, to the payment in coin of the iuterest on tho bonds aud notes of the United States; second, to the purchase and payment ol one per centum of the entire debt of tho United States, to he made within each fiscal year after July 1, 1862, which Is to be set apart as a sinking fund, aud the Interest of which shall In like manner he applied to the purchase or payment of the public debt, as the Secretary of tne 'l reasury may irom tune to time uirect ; third, the residue thereof to be paid Into the Treasury of the United States. The only other law bearing on the subject Is a joint resolution approved March 17, 1804, which pro vides: "That the Secretary of the Treasury be authorized to anticipate the payment of interest on the public debt by a period not exceeding one year, from time to time, either with or without a rebate of Interest upon the coupons, as to him may seem expedient : ainl he Is hereby authorized to dlsposoof auy gold In the Treasury of the United States not necessary for the payment of tho Interest on the public debt; provided that the obligation to create the sinking fund, according to the act of February 20, 1802, shall not be Impaired thereby." I'p to the time Mr. Boutwcll became Secretary of the Treasury these acts remained practically a dead letter on the statute book. They were not carried out, partly owing to the exigencies of the Govern ment, and partly through mismanagement of tne finances. Early In May, about a month after Mr. Boutwell was placed at the head of the Treasury, he came to the conclusion that it was time to carrv tho law into effect. He argued correctly that a begin ning must be made, uud the sooner the ice was broken the better. The first purchase of bonds was made on the 12th of May. The total amount purchased . that mouth was 13,070,000. The cost of the premium on these bonds isll of them Five-tweuty six per cents) was f 488,881 -60, making the total amount of currency paid out by the Government 13,553,881 Oil. Since the 1st of June the purchases have been more regular. The following table shows the amount of bonds purchased, where they were bought, the pre mium paid, aud the total amount of currency ex pended lu the operation: Amount of i'rrmittin C.irrtncu Half nf lhtrchne. "i-ini-i'nt. hW. Krp nitnl. June 8, I860 i,ooo,oiid fl64.or9 tl10t,or.9 June 10, 1869 1,000,000 101,967 1,101,907 JUU0 17, 1869 1,000,000 152,950 1,152,950 June 23, 1869. 1,020,000 250,402 1,870,402 June 26, 1869 1,00",000 158,228 1,1BS,228 Donation of W. P. PeterB L"00 .... 1,000 Total for June..:.. 15,621,000 887,000 $0,508,600 Amount purchased prior t June 1,1869. 3,070,000 4SS.881 3,558,8.81 Total to June 20, 'ti9.S691,000 $1,876,488 110,007,488 The amount of Interest saved on these bonds is calculated at $171,810. which, added to the sum total of the principal or full value of the bonds, would make $8,862,810. This was the amount of the sinking-fund ou the 80th of Juno. Since then another million of bonds has been purchased and added to it. The 3,000,000 bought the other day are not to be added to the sinking fund, but to bo set apart to await the action of Cougress at Its next session. It will thus be seen that Mr. Bont well's efforts to make the Sinking Fund a reality have been crowned with ussurcd success. Wash. Cor. S. '. IJeraUL lMiIladclpliia. Cattle Market. Monday. July 12. There was a lively demand for Beej Cattle this morning, aud prices wero very Arm. Sides of choice at 9(SiVKc ; fair to good at 8X(f 9c. ; prime at 7(8c. ; and common at 6 go. per lb. gross. Hcocivad this week, 1611 head; last week, 1432 head. The following sales were reported: lleaa. 81 Owen Smith, Western, V'9'if. 64 A. Christy A Bro., 99. 42 Dengler McClecse, 6(o.9. 90 Ph. Hathaway, 91 James S. Kirk, 8(a)9)i. 35 B. F. McFillen, 8,V(. 90 James McFillen, 8;9.V. JO K 8. McFillen, 8w9. 147 Martin, Fuller Co., 8a.9X. 100 Mooney ft Smith, Iki9. 60 Thomas Mooney 4 Bro., 7D9. 66 H. Chain, 6)7. 79 J. L. Frank,7V8.V- , 88 Frank & Schomberg, 7'ft8V 90 Hope A Co., 1.9. 80 M. Dryfoos & Co., 88'. 50 ElkonACo., 7(o8. 80 J. Clemson, Western, 6$9)tf. 17 1). Branson, Chester county, JfATJtf. 80 Chandler 4 Alexander, Chester county, t&9. 25 A. Kimble, Chester county, 8tf9. 16 L. Uorne. Delaware, 5XW.7M'. 48 John McArdle, Western, 69. ,.. Cows and Calves met a steady demand at $35in0 for springers, and $40070 for Cows and Calves; ro- CCiCen were in fair request at full figures : sales at hSwcTw lb., ''H receipts thru week, 10,000 head 'last week, 12,000 head. Hugs were rather slow of sale, but holders were nrm in their views; sales of 8500 head at the Uu on Avenue Yards at from $12 to $12-60 for still, aml f?om $13 to $13-75 lor corn fed, the latter rate for extra. a Norfolk talks lobster culture. Iowa has a three million school fnmt Duluth is to be called the Zenith City. Duluth has lately had Its first concert, Mr. Chase la at Greenbrier. Trollope swears to $260,000 Ristorl will be here In Aprt. Elder Knapp Incomes $14,031. Naphaegl expects Santa Anna soon. Roundell Palmer has $126,000 a year. Miss Ida Lewis stands out In boM relief. Senator Trumbull has gone to Yo Semite. Buriiogame will be a month In Stockholm. SECOND EDITION LATEST BY TELEGRAPH. Railroad Accidents in the South and West The Baltimore Soonger fest The European Mar ket Quotations. FROM MARYLAND. Rnilrond Accident N Herloiis Damn ire. II AVRK-DF,-(iKACE, July 12. A passcngeY train on tlie Philadelphia, Wilmington, nnd Bal timore Railroad ran into a hand-car loaded with crocs arms for telegraph poles, two miles south of this place, at !? 20 this morning. The engine and mall car were thrown from the track, but no person was hurt, and no other damage done. The hund-cur was being used by the employes of the Western Union Telegraph Company tvilh out authority from tho railroad company, nnd the latter company is in no way responsible for the accident. The Nit nKci fet -lrnnd lrnerdon tf tJei-mixu SiMicri lb ix .Uorniuu. Bjtfial Dfffatch to The Evening Tchyraph, Baltimokb, July 12. All business is sus pended. The procession of the German singing societies was the largest and, without doubt, the grandest civic demonstration ever witnessed in this city. It occupied two hours in passing any given point. The Governor nnd hid stuff, with military escort, wero out. There is au Im mense throng of people crowding our main thoroughfares. Flags arc floating from every public and innumerable private buildings. Tho bar to complete enjoyment is the Intense heat. FROM OHIO. A Tunnel CIvcm Wny. Camhridok, Ohio, July IS. An nrched tuunel on the Baltimore otul Ohio Railroad, near this place, gave way this morning, letting down a great mass of rock. Very little detention to travel will be caused, as everything can be easily hauled away iu a short time. Markets ly Telegraph. Nkw Yoke, July 12. JStocks very strong. Money firm at 7 per cent, tiold, 136',. B-20s, 1802, coupon, Ui ; do. 1804, do., 121 t do. 1865, do., lit)?, ! do. do. new, 119; do. 1861, 119; 10-408, 110; Virginia ts, new. 61X! Missouil 6s. 87 sj,; Canton Co., 62; Cumberland preferred, 81 ; New York Central, WSVfS Kne, 28; Reading, 94; Hudson River, 108; Mi chigan Central, l'e; Michigan Southern, 106 ; Illi nois Central, I431t' ; Cleveland and Pittsburg, 107 4 ; Chicago and hock isiano uif ; Pittsburg and Fort Wayne, 152: Western Luton Telegraph, 3s'. New Yokk, July 12. Cotton quiet but llrm; 20O bales sold at il4.Vu;34,S,c. Flour prices favor buyers but are without decided change; sales of 7000 bbls. Wheat dull and declined 1(.2c. ; quotations are nomi nal. Corn dull and declined; sales of Bs,ooo bushels mixed Western at 74(.i,i)5c by canal, and 92iltic. by railroad. Oats easier; sales of 3l,oou bushels at sic. Beef quiet. Pork tlrni ; new mess, ;i2-25. Lard quiet. Whlbky firm at Si-04. THE EUROPEAX MARKETS. TIiIh .HoriuiiK's Uuotiuious. liy Atlantic Cable. 1x)kdon, July 12 A. M. Consols 93',- for both money aud account. U. S. Five-twenties, 81 !. stocks quiet, Erie, 18; Illinois Central, 'J'oyt ; At- !....!.. ...! i!,n.ir VI'. .kit. .I'll OK lttlil.iv. nil.. wi.it m.iiviii, aniic nun wicut. z. Livkki'ooi., July 12 A. M Cotton active: mld- lllng uplands, Viy,; middling Orleans, 12 '4'd. The ales to-day will probably reach 12,000 bales. Dreu 1- tuft'u .ml. it flttiiil lirtii'lltd 11lklll.llliri).l i.IV dllng stuffs quiet. Other articles unchanged. LON l.iltKe London, .fuly 12 A. M. Sugar cm the spot dull, inseed Oil, 31 18s. Turpentine, 27s. Inl. rPl.i.. A 1". v ...... llunlallAim. Lonoon, July 12 P. M. Cousols for money, 93'if ; for account 93. U. 8. Pive-twouiloM quiet nnd steady at 8l Slocks steady. Atlautiu aud Uroat Western, 25i. Livkki'ooi., July 12 P. M. Lard quiet. Pork llrm. Havkk, July 12. Cotton, 1481., both ou tlie spot and ailoat. Oman OY THE KVKNIKO Tirt.l!ORAFH,l Monday, July LI, 1H. The past week closed on a somewhat tight Money market, and tho appearances this morning are not favorable to auy decided Improvement. Those who have notes fulling due, or paymeuts to make, feel disposed to conform to tho rates now ruling In the outside market, which are rather severe, as the banks are not in a condition to afford ull tho relief demanded by business borrowers. The low condi tion of their balances renders discrimination a mat ter of prudence as well as p roll I, and both these questions are better consulted by reserving their favors for the brokers. As the speculative feeling just now is active, business men are necessitated to full back ou the street, and submit to the terms there demanded, which are regulated according to the degree of pressure exercised on lenders. Call loans are generally rated at 6(:8 per cent., 7 per cent, being the average ou Government collaterals. Street loans are made at a wide range, from 12 percent., according to circumstances. Oold Is quiet aud llrm ; opening price, 13'3V; sates at 12 M. at 130. In Government loans the transactions are light, but in New York there is some excitement, and an advance of fully 2 per cent, has been ma le over closing prices of Saturday. There was a decidedly stronger feeling iu tha Stock market, but the volume of business was com paratively light. Stato loans were unchauged. City sixes were firmer, selling at 100 V for the new issues. 94 was bid for the Lehigh Gold Loan. Reading Railroad was steady ut 40',', nn advance of it ; Pennsylvania Itailroad sold at 67; aud Cam den and Amboy Railroad at 131.V, au Improvement of v. 42 was bid for Little Schuylkill Railroad ; 08 v for Norrlstown Railroad; 63 for Minehill Rsilroad; 87 for Catawlssa Railroad preferrod; aud 81'. for Philadelphia and Erio Ruilroad. Canal stocks showed more actlvltv aud more firm ness In prices. Sales of Lehigh Navigation at 80 aud Schuylkill Navigation preferred at. 21 S(. In Coal shares there were sales of New Vork and Middle ut 4 V In Bank shares the only transaction was In North America at 233. PasBenger Railway stocks were Inactive. 70 was bid for Tenth and Eleventh; 17 for Thirteenth and Fifteenth ; 61 for West Philadelphia; 27 for Spruce and Pine; and 12 !4 for IlestonvlUe. PHILADELPHIA STOCK EXCHANGE SALES. Reported by De Haven & Bro., No. 40 8. Third street FIRST BOARD. $30oo Pa R 1 m 13000 LeU V new bs. loo sli Penna.880wn. 67 10 oo. la. 67 108 do Is. 67 100 sh Sch NPf.lsiO. 81V lOOsliN V a Mid.. boown..,, 4f Cp.. 94 12000 do ....rear.. 94 I50O0 City 6s, New..loov liooo v dor us wn4 loesh Reading. . .0. 46 vi loo do soo. 46-81 100 do 0.40-81 IU till LC II . cik, . . 311 M0 100 72 100 100 800 800 do c. 80 do 030. 80 do is, 80 do 86 V do b30. 86 do......... 80V do U30. H6X 100 400 100 do trf. 46 i do 1S.C 40' do....rgAi. 40' do..s6own. 46 100 4 811 UK N Am.b6.23S 64 BhC 4 Am It Is. 131tf Jay Cookb A Co. quote Goverment securities so follows: U. S. 6S Of 1S81, 120'c$liil ; fi.'ioa Of 1862, 122j122' ; do., 1864, 121 lt'i21S 1 do., NOV., 1866, 12U.121: do., July. 1865, 119Vll'j ; do. 1867,119(4120; do., 1868. ll9X120; 10-tOf. 109 '.? 110V. Pacifies, 107,(Sl07'. Gold,130tf. Messrs. Dh Hatsn a Bhothbk, No. 40 8. Third Street. Philadelphia, report the following quotations : U. S. 68 Of 1881, 120(1121 M ; do. 1862, 122t(4122 V I da 1864, i2is,mv; do. 1866, i8ismy; do. iml new, l9mi9'i ; do, 1867. new, UV119' ; do. 1868, 119 V4U9KS do. 68, 10-408, 109V4109!, U. 8. 80 Year 6 per cent. Cy., 107V107,' ; Due Comn. Inu Notes, 19. Gold. 136V(.4130)tf ; Silver, 1S8M4 HWJtf. Narr A Ladner, Bonkers, report ttii morning's Gold quotations as follows : 10- 00 A. M 136VU-18 A. M 136'i 11- 06 " 186',' 11-30 " luajtf U -IU " 136lll-33 " 136, NEW YORK MONKY iU ATI KPT. The following extracts snow the state of the New Vork money market on Saturday : From the Herald. "The problem of the money market, which so ex ercised speculative aud commercial circles alike during the past few weeks, received a satisfactory rotation before the close of business on Saturday night. Wall street wound up the week with a feeling of relief at the change which cm brought about tu the rate of interest, and went home with a more contented mind than has been tho custom foragood while. At the opening on Tuesday morning (Monday being celebrated as tho Fourth of July holiday) there was a great deal of apprehensive curiosity to fathom the extent of tho clique movements to keep the market stringent, for it was th mgllt that, In obedience to the general law operative at this sea son In rendering currency so abundant at New York, It wouW "squire a desperate and determined effort to preserve Its activity. The tlrst signs were not of an encouraging character. Despite Mio otter absence of any outside demand, and notwithstand ing that the drain for tho wool crop, for the rem nant of tho grain crop aud to -the watering places hail all passed by, the opening rat on cull louns ranged from an eighth to a quarter per eeut. per day, equivalent to 4590 per cent, per annum. Even the money which had come out of the Sub-Treasury in payment of the purchases of bonds made the previous week failed to give relief, nnd the suspicion was generally entertained that io had found Its way Into the possession of the cliques who were operating upon the market. This sute of ailulrs prevailed with little abatement of aggrava tion until Wednesday afternoon, when, upon the an nouncement that the secretory of tho Treasury would purchase three additional millions of bonds, there was a sudden relaxailon to the legal rate a movement assisted by the Inauguration of steps for the prosecution of those exacting more than tho limit of interest fixed by law. It may seem curlot e that the etl'orts of a combination of speculators couid be so successful In tightening up money by the sim ple withdrawal or locKlng ui ol tne money consti tuting their capital or wlthlu their control; the amount so at their olsposal being but a fraction of the vast amount of money to be found la the me tropolis. The secret of their success lies in the ex it Tuple which they net ah who have money to lend. It Is human nature, of course, to desire to obtain the greatest rate of interest possible. These speea latois, by withholding their own money, and bidding a high premium lor what Is in the possession of others, make an active demand In the first place; men. in tne competition for funds to make sure or settling tmnk accounts every evening, each stock broker being particular In return for the accommo dation which his bank gives him to leave a good balance, there is a progression in the figure until the borrowers are compelled to pay exorbitant rates. It Is a sort of Inductive process like that In electrical experiments, where ene large magnet will Induce magnetism In a'l adjacent pieces of metal. Let the magnet be removed, however, and the scattered pieces lose their magnetism. '1 he relaxation In the money market in the latter part of the week was due lu a great measure to the etl'orts of the District Attorney In laying before the Orand Jury materials for their Investigation in tlie question of the infrac tion of the usury laws. The "rlng"ol money lenders thus lost cohesion and power, on the lust day of the week the relaxation was noticeable, and the bet ter supply of funds showed that money had been re leased to the market through a desire to compete for the two days' Interest to Monday, but lenders were In dread of indulging in transactions ut extra legal rates. The highest figure paid wus gold in terest. At 3 o'clock the lenders at 0 per cent, found no takers, aud large sums were carried over unemployed. In the earlier part of the day a slight difference was made between the "oush"aud "regular" quotations of the high priced shares, and an eighth was had for turng them. Much of this easier feeling Is also to be attributed to a fore knowledge of the facts of the bank statement, which Is u very favorable one, the Increase In specie being close upon seven millions aud the increase In legsl tenders nearly two millions. These gains are due to the disbursement of the July cola Interest uud to purchases of bonds. The Increase lu deposits Is only three and a quarter millions, which Is some what suspiciously regarded. The coiitraotion of leans to the extent or nearly three millions goes to account for a part of the discrepancy, but as tho do mestic exchanges are in favor of New York there Is no reason for the diiivreuce, unless money is still locked up by the cliques. "Tho rate for tho best double-name acceptances was from ten to twelve per eeut, with nothing doing below the luttcr figure. Haakers' papjr was t be had at 9 per cent, uud preference Is given to It, as tlie time, sixty days, just covers).the ordinary sum mer period of easiest money. "tiovernment bonds wero unfavorably affected early In the week by the continued stringency In money, but the market, after some hesitation, was si lengthened by the tiovernment purchases and prices advanced a clear two per cent., contrasting the linul sales of Saturday with those ut the close of tlie previous week. The remark applies more particularly to the domestic bonds. Tho 72's re nin Ined steady and strong with the London quota tion, but the high price at which they are held keeps lliem out of the Government purchases. The only bunds cf this date bought ou Thursday we registered.' . Ilillnl4'l1il Trade ltport, Monday, July 12 The Flour market presents no feature worthy of special note. There Is no shipping demand, but the home consumers purchase to a mcderate extent. Sales of looo barrels, chiefly Iowa, Wisconsin, ami Minnesota extra family, at Ji-,(a7-25, including loo barrels Ind.ana do. Uo. at f7-5; koo barrels Southern Illinois do. do. att7(470 too barrels Ohio do. do. at $8; aud fancy brands at i'tilo-50, according to quality. Rye Flour ranges fn III 6-12tf to $6-26 y bid. The demand for Wheat Is confined to the wants of the local nitllers.who purchase principally of prime lots. Sales of old red at Jl'iVI'W; new Delaware do. at $l-f5 1-60; and white' ut 1 1 iifH.il -75. nva is quiet ; 800 bushels Western sold at $1-83. corn Is very scarce and firm ; sales of 1600 bushels yellow at $iii6($i-ioraiid Western mixed at iUnl-oa. Oats are unchanged; 8000 bushels Western sold at 7W80o. Nothing doing In Barlev or Malt Bark may bo quoted at $47 ton for No. 1 Quer citron. Whisky ranges from 95c. to $1 -05 y gallon, tax paid. LATEST SIIUTIXQ INTELLIGENCE. For additional Marin Sews tut Iiuidt ratfet, (HV TKLKORAnTj . . " Nf.w York, Jul IX Arrived, steamship Cits ol Bos ton, from Liverpool Alio arrived, steamship France, from Liverpool, PORT OF PHILADELPHIA. ..;..,.,.., . jtjly state or xhhmotBoa7'h xvxnino tcleobapb 1 A. M 77 1 11 A. M ....83 1 J P. M 84 OLKARKD THIS MOUNINO Steamer K. O. Kiddle, MeCue. New York. W. P. ClydeACo uu Hurtsfin. l.ioholun. Baltimore. W. P. Ob-da J Vl lu tairy yueen, SUears, llre-derace. ARRIVED THIS MORNI.VO. wirda.:Pto,J6.XUWe- W huu ' New York. wrj:e.l,1iir0,ve.Uujrdi'T' M Baltimore. Steamer Chester, Jones, S4 hours fmui N,. V..-1. mdso. to W. V. Clyde A Co. ow York' wMtl'ni.teS'fS' bmn hom N toTwllVsLr' Iud"" Ban,,, with lath. Kchr O. H. Moller, Hrown, 7 days from r.i,. .... mrise. to Mention a Oloud. m B"", With b-Ste Icet1 8 da5" tnm a' with lee to wiMnHti3rp.Sr' 1 'r0m .n.n,Del.. ScbrVV. O. Irish, Ralhlmu, 7 days from Jocffins. N B with oabinst wood to onpUin. """,.., tabi!" BlUM"' """'' dM fr0m Do'ua' "it" to cap- ''hr Ma3la.,?t Reinhart. Hand, from Boston. Scnr U. K. Klmer, Corson, from Kotlop 1 oa Thomas Jefferson, Allen, from Baltimore with a tow of barges to W. P. Clyde A Co. . ' w,tu Tug Chesapeake, Memhew, from Havre-de-Urate with a tow of barxes to W. P. Clyde Co. w,t, c, . r MKMORANDA. Ship Record, flolfur, from Uvernool for PhlladelDhla. was spoken illh ult., off Walerlord. "'Mweipuia, Steamship Kauita, Brooks, hence, at New York ea. teruay. ir. ,1). revenue steamer Seward, Baker, hence, at New York yesterday. Schr Navila, rord, from Londonderry, N. g., for Thi lude puia, 1 at into New Vork yesterday for a harbor. hclirs L. W. llirdaall. Mason, and Win, Tioe. Tina hani-a for Kostnn, at New York yesterday. ' n0C4 Suhra Wm. T. Phelps, Cronmer: M. E. Van Oleaf Jonas D. A K. Kelly. Kelly; Clyde, L. B. Ives, KS; K. A L. Cprdery, Grace i and Geo. Taulane, Steuiutiaii. hence, at Honlon A. M. lutta Inst. vu, hchr H. 1 MoCauley, Vickers, for Philadelphia, clear ea st Huston loth Inst. ' Sthrs Oriole, Kaker, from Boston for Philadeluhia. aiwt Ann. K.lirabeth Phiilipa. from Uarwicu for ., Holmes' Hole P. M. Kth IiibU v ' Hours A. U. Katon. I'uiiiuey, from Boston, and J. Bat. rett, Nukeraon, from Gardiner, both for Pmiadeliuiatat New ork yesterday. a-"s thii.ton wnTnst!n' w,nimor'' ,or PWUdeiphla. dewtJ wHui!'i,f.7 A' H'' Baylet, hence for Providence, t Hti York 10th last. Hclir I Jid y Adams, Kvsns, hence, at New Haven 8th lnt.' Hi'hr KJht Ainedan, Biuitli, hence, at Nwluryivrt tU iatlaiit.
Significant historical Pennsylvania newspapers