Northern Times.
Liverpool, Merseyside, England, 1857-12-14 00:00:00

THE NORTHERN TIMES.-LIVERPOOL, MONDAY, DECEMBER 14, 185.

available assets to a considerable amount still in
hand, but, in the midst of the uncertainty caused
by the numberless stoppages on the Continent, it
was considered prudent for the general interests
of the creditors to suspend at once. Messrs.
Weinholt, Wehner, and Co., a German house
connected with the trade to the East Indies
and Australia, have also stopped. Their liabilities
range between £250,000 and £300,000, and the pros-
pects of the liquidation appear to be doubtful,
since they depend on realizations from produce
and collections from abroad, as well as upon the
preceeds of bills on other failed houses. At the
beginning of the year the firm had a considerable
surplus. Messrs. T. H. Elmenborst and Co., Ger-
man merchants, trading principally to the North of
Europe, have also been brought down. The firm
have always occupied a good position, and there is
a hope the difficulty may prove but temporary.
They hold the paper of other suspended houses, and
the immediate cause of their embarrasment has
consisted in the failure of Messrs. Albert Pally and
Co. The total amount of their liabilities has not
transpired. The bills have also been returned of
Messrs. Montoys, Saenz, and Co., an old Spanish
firm of respectable standing as general merchants.
The debts are believed to be very small, the house
having been closing its transactions for some time
past. To this list has to be added the stoppage
of Mr. J. G. Ward (formerly Tisdall and Ward),
who appears in the list of London bankers, but
whose business was principally that of agent to
cattle salesmen. The extent of his engagements
has not been stated.
The old-established firm known as Farley's
Bank, Worcester, has also suspended payment.
The effects of the failure, however, will not be
attended by the wide-spread distress and suffering
which has been caused by the stoppage of similar
establishments elsewhere, inasmuch as the opera-
tions of the bank were on a very limited scare. It
was started in 1794, and was authorised to issue
notes to the amount of 15,6001. The actual issue,
however, fell far short of this limitation. Accord-

ing to the return in the London Gazette of the Ist
December, inst , the average issue was only 4,8001.
The liabilities of the bank are estimated at 120,0001.,
and the assets at 50,0001., leaving a deficiency of
70,0001. The number of creditors who will be
effected by the failure is from 400 to 450. The
stoppage has not been brought about by any direct
operations of the monetary crisis. The bank has,
in fact, died out. A branch of the same establish-
ment, carried on at Kidderminster, under the title
of " Farley, Turner, and C 0.," stopped about a year
ago.

Several rumours of failures were circulated in

London to-day, but they were believed to be without
foundation. Only one small suspension occurred
—viz., that of a small German house, with limited
liabilities.

At the meeting of the Royal Swedish Railway
Company, held to day, there was a protracted
discussion, in which the feeling of the shareholders
was that the directors would act wisely in prose-
cuting their endeavour to effect a sale of the line
to the Swedish Government for the amount of
400,000/. The board were empowered to proceed
to the sale of the property, plant, and stock of the
company on the best terms that they should be
able to make, either at a fixed price, or by arbitra-
tion, in the mode contemplated by the statutes of
the company, taking the pirchase money either in
cash or in State Bonds of the Swedish Government,
at fair value.

The business during the past week has been
exceedingly dull in Leeds, and little or no altera-
tion can be reported in prices. A few buyers of
Woollen goods have been in the Market, but their
purchases were extremely limited, and confined
exclusively to immediate requirements. The pros-
pects of the trade, however, are considered to be
gradually improving, the late crisis having been too
severe to admit of any rapid recovery. At Bradford
the Worsted Trade .ruled very inactive, the late
failures on the Continent and in London still
exercising a very unfavourable influence, and most
parties are less sanguine than they were a short time
ago with regard to an early revival of trade. The Con-
tinental export houses arc very quiet, and the transac-
tions in goods for the home trade may be considered
closed for the present season. The general state of
trade at Halifax showed no improvement, piece goods
and Wools being at rather lower quotations. At
Manchester the market continues very depressed.
Some of the mills, however, in concequence of
orders from the East Indies and China, have com-
menced working full time; but these are very few,
and the orders are not of sufficient magnitude to have
much effect upon trade generally. All descriptions
of Cloths were exceedingly dull of sale, and no
improvement whatever can be reported in prices.
At Leicester most of the mills are working short
time, and want of employment is becoming very
general, many of the leading fiems having reduced
their establishments now who have not done so for
years past, and a speedy revival of trade is not
expected for some time to come.
In the L9ndon Produce Markets, this week,
there has been little animation, and prices exhi-
bited a downward tendency. Purchasers of Sugar
have been very limited, and a decline of fully I.s.
per cwt has occurred ; while Coffee, which is also
very dull, has receded is to is 6d per cwt. Cocoa is
at lower prices, but Rico has remained steady, and
extensive trarmetions in the common kinds have
been concluded. Spices were quiet, and rather
heavy. Saltpetre is is per cwt cheaper, but Tallow
is firmer.

Messrs. Bradbury and Cook, of London, in their
Wool Circular, dated this day, make the following
remarks in reference to the Landon Wool Sales just
ended :

The extensive derangement in monetary affairs caused
our Manufacturers to contract, very materially, their
operations previous to the commencement of these Sales.
Thai; stock of the raw material, however, was so extremely
light, that their purchases for immediate necessities gave
a higher tone to the earlier part of this Series than was
generally expected ; but the extreme pressure which has
since produced such disastrous results had not been so
severely felt. The reduction at the commencement, on the
best descriptions, was 2d to 2d per lb , and on the mid-
dle, low, and heavy-conditi 'fled flocks, 3d per lb. ; but
notwithstanding tha quantity of Woolwithdrs,wn from the
Catalcgues nearly every evening, this failed to give adequate
support to the Market, and the continued and increasing
depression in the manufacturing districts caused a further
decline of id per lb. on all faulty and badly washed
parcels. Foreign bayers have operated less freely than for
some past, and their purchases have again been chiefly
confined to the better classes. Our Home Dealers acted
with much caation, and have taken only a very limited
quantity. Tie fact that this branch of the Wool Trade
has been ab?e to pass, so far, through such a severe ordeal
without a single failure, may be received as strong evidence
in support of the general opinion that it is in a condition
at once so and and healthy.

[The following appeared in our second edition of
Saturday morning.]
The stoppage of the Worcester Bank, of Farley, Laven-
der, and Co., took place on Friday. The liabilities are
believed to be very sma 1 The bank was established more
than sixty years ago, and has for some time been in a state
of decay. It enjoyed a privileged circulation of £15,463,
but the amount of notes at present outstanding is said to
be only about £4,000.
MESSRS. ROBERT SMITH AND Co., MANCIIESTER.—The
limes city article states that the above firm having been
able to present satisfactory statements and securities to
the Bank of England, have received such support from the
bank as will fully ensure ihe safety of the firm.
WOLVERHAMPTON AND STAFFORDSHIRE BANKING COMPANY.
is stated that an application to the Bank of England
from the Wolverhampton and Staffordshire Banking Com-
pany, which stopped on the 17th November; with
liabilities estimated at about £1,000,000, has likewise been
acceded to. The bank proposed, on Tuee lay last, for the
redemption of its note circulation, an i may now be
expecWd to resume its ordinary business in the COWS of
next week.

LONDON Housics SUSPKNDED.—The Times publishes a list
of six houses which suspended on Friday. The chief house
is that of Hrine, Semon, and Co , largely engaged in the
trade with the North of Germany, Moldavia, &c. Their
liabilities are supposed to amount to about £700,000.
Wienholt, Wehner, and Co., a German house, connected
with the trade to the East Indies and Australia, have also
stopped. Their liabilities ranged between £250,000 and
£300,000, and the prospects of the liquidation appear to be
doubtful. T. Elmenhoest and Co., a German house, have
also been brought down. The bills have also been returned
of Messrs. Montoya and Co., an old Spanish firm. Liabi•
tides very small, as the house has been closing transactions