The Express.
London, England, 1847-10-25 00:00:00

EXCIIANOKB AND

STOCKS ABROAD.

IA
PARIS 044.13.
_A,
Per £...a .
Be*. Lorin, J Cleswg.
3 per Cent 5....... 5 41; -971111—t6 4.5 76 36 76 35
6 DO. ...... 11486' ll4 86 11406 111430 114 36
"
isabonee o Loolosi. 130 dojo). 26 &I. "
NNW. DN.,.
Bele= 5. 1840— ..... .. it Noplor Rents j 190
1)0. 6,1842........ 96i i, Roman Lou Pli
1)0. 44 .. 91 i
Do. 21. ......_ . I Trßarkm.amrits"d".. . ... 3296
616 own. Orr. 16.—Three 'per Oeuta.. 175 at 60 days.. 9.16 cash:
Fire per Cents.. 17 pllpUr ; Partiarm, 64 and. 55 inner; Coupon*.
135 roper ; Bank of tit Ferdinand. 134: Book of lit.liabollLll9. Lo.
clung° on London. 49.
Baromio, Ocr. Pl—Loan of 1840.061 ; Mao, 1542, 45 : Ditto, 1844.
WO : Ditt0,1610.661 : City Loan. ld R. !^5; Dttto, 161.3. 965: 19.53 of
Belgium, ei E...g1. Londoo,ls.du.
At or wane, o,r. 22.—Lxchiunce on LoiMm, 25 92.

Tire PANIC AT NEWCASTLE.—On Friday, • large por-
tion of the most respectable inhabitants signed a requisi-
tion to the Mayor, requesting him to call a public meeting to
decide upon the course to be pursued to sustain the credit of
the remaining banks. The meeting was accordingly held on
Saturday morning, in the Town-hall, which was filled by
Yee requisitionists and others, presided over by the Mayor.—
Mr. M. Plummer said they were met to act rather than to talk,
end very few observations were therefore needed to introduce
the resolutions which bad been entrusted to him. There
could be no question that the banking establishments of the
town were worthy of the utmost confidence. All men of !
business knew that the banker did not receive deposits to
lock them up, and then to pay interest for them, but for the
purpose of affording aecommod ition to merchstos and
manufacturers, and of thus employing capital to the
best advantage. The managers of the Newcastle banks had
done their duty in this respect, and had met the wants and
wishes of the public as far as possible. He was old enough
to recollect many panics, and one which occurred in 1793
was similar to the present one. 'f ne hankers then circulated
their own notes, and when the panic came they resolved
upon closing their establishments against all demands until •
supply of gold could be procured from London. Before that
supply arrived business had resumed its wonted course. SO
in toe present case, the manifestation of confidence was all
that was needed to enable the existing banks to weather the
storm, and to continue their course of usefulness. Actuated
by a desire to aid in restoring confidence he moved,
I. That this meeting ascribes much of the embarrassment in which
the commercial affairs of the country are at pre-eat involved to a
want of conthience fur which there is no substantial ground—tending
to panic, and its disastrous results.-2. That in the opinion of this
naming the banking establishments of the town, Nil-, the Northum.
berland and Durham Diorict Bank, and the Newcastle Commercial
Banking Company, two Joint-stock banks, end the private tank of
Messrs. Lembton and Co., are entitled to the hill and unreeersed um-
Wetter of the public, the number and wealth of the shareholders of
the former motectitig against the possibility of loss, whilst the
prudence and ample petunia, y resources of the latter place their cus-
tomers in an eweally secure position.-3. That this meeting regards
with concern the suspension of the Union Bank; yet, referring to the
hat of ih• proprietary, no clotibt can be entertained of the speedy
end honourable discharge of all the engagements of that MCI.
.

Mr.— W.-Cuthbert
re:ended the resolutions, and expressed
his concurrence in the view taken by the previous spetletr.
The resolutions were agreed to unanimously. It was then
arranged that them resolutions should be extensively tircu-
bite,* in the town, for the purpose of calming the public
mind; and the proceedings then closed. In the course of
Saturday the run upon the banks in the town completely
exhausted itself. It is stated that the amounts paid to ter-
rified depositors on Friday were enormous ; and the manner
in which these calls have been met has tended much toeti
excitement and alarm. Nothing authoritative has app
respecting the position of the Union Bank. Parties ac-
quainted with its affairs attribute its difficulties to the invett-
meat of large sums in iron works and similar undertakings,
on which losses have been experienced.
LlvEttroot..—HATEB or DISCOVNT.—The following are
the rates of diecJunt which ruled at the Brat ch Bank of
England yesterday, and at one if not all our ',cal banks
Bevan days, 7 per cent. ; one month, 74 per cent. ; two
months, 8 per cent. ; ninety-five days, 84 per ce ut.—Lirer-
pool Journal, Oct. 23.