Northern Times.
Liverpool, Merseyside, England, 1857-11-11 00:00:00

THE DAY'S NEWS.

We are yet without any telegraphic despatch of
the Overland Mails.; but we may at any-moment
be put in possession of news from that portion ot
the British possessions. The news by the forth.
coming mail is looked forward to with much
interest, as it will, in all likelihood, contain some
of the details concerning the fall of Delhi, and may,
probably, bring the glad tidings of the relief of
Lucknow. Let us hope for the best.
The banquet given by the Lord Mayonof London,
on Monday night, was attended by several of the
present Ministry, at which they took occasion to
descant upon the affairs of India. Lord Panmure
declared that the recruiting for the army had been
most successful, and that considerable military
ardour had evidently been invoked by what had
occurred in India. The Premier contented himself
with uttering complimentary and general observa-
tions respecting what had been done to suppress
the revola and in the course of doing so he eulo-
gised the conduct of Lord Canning in such a way
as to intimate that the Governor General had his
entire confidence. The other Cabinet Ministers
will consider this indiscreet, for it is now well
understood that they have opposed his lordship in
his desire to retain Lord Canning in power. If we
are not misinformed, Lord Palmerston stood alone
in the Cabinet in thinking that the present Governor
general of India, should be retained at his pose
The Premier also appeared to be firmly of opinion,
judging from his observations, that the army which
has gone out to India would be all-sufficient to
make that empire tranquil.
There seems to be no change foe the better ie
the state of Commereial affairs. It was rumoured
yesterday afternoon that one or two private banking
firm: in London had secunibed to the pressure ot
the times, batt.we are yet without any confirma-
tion of the statement. In Glasgow, yesterday,
there was a veey severe run upon the banks for
gold, but so far, we are happy to say, all claims
were promotly met. The Shareholders of the
Borough Bank had a meeting yesterday, at which
the following; resolutions wore unanimously passed.
lste—That the B inking Company, called the Li-
verpool Borough Bank-. be forthwith registered as
a Company under the Joint Stock Banking Com-
panies' Act of 1,857. 2 id.—That the thanks of the
meeting are due, and arc hereby given, to the.
Committee of Shareholders, for their valuable ser-
vices, and that they be requestel to continue to
render their assistance. 3rd.—That this meeting
be adjourned till Tears lay, the 12:h inst. at two
o'cloek, for the purpose of allowing the comnany
to be registered in the mean rime under the Joint
such registration beitidefl'ac-ted, to receive Worn the
Directors a statement cf the affairs and concerns
of the Company, and to take into consideration
the propriety of winding up voluntarily under the
provisions of the said act, or of taking auch other
proceedings es might be deemed expedient. We
understand that it is the intention of the Directors
and shareholders, to start the bank on anew basis, as
.soon as its present dill' lilies are got over, and
under a new management, a new name, and the
Joint Stock Company Act, of 1857. they lojk for-
ward to for a prosperous career. We regret to say,
that several failures are announced to-day, and
that others are expected to ollow. The serious
fall in produce and goods of every description,
men; endanger the position of many of those who
have large stocks on nand, especi Illy as so much
difficulty is experienced in getting bills discounted..
It is not the mere question cf 3 or 4 per cent. in
the minimum that solely produces inconvenience,
but the stop which it puts to business, and the
almost. insurmountable difficulties thrown in the
way of those houses which, although highly re-
spectable, do not hold first rank in the commercial
scale. The question is asked by a London con.
temporary, 4. Will any one venture to say that
10 per cent. is a ruinous rate?" It may not
be so to the merchant princes, but what becomes
of second and third rate .firms, which in
the aggregate are of far greater importance theta
their more powerful competiters, who, with all
their imputed wealth and prestige, do not pass
through the ordeal unscathed. How is it, if the
rate is not ruinous, that we hear of faatmies
being closed, of mills worked on the "short time"
system, and of operatives being out of employ-
ment. What has made, the piiees of goods decline,
and produce fall to most ruinous .values? The
Directors of the Union Bank of Scotland have put
forth a statement to the effect that eheutars will be
immediately issued to the creditors communicat-
ing details and suggesting measures to be pursued,
which, with forbearance and calm self-possession
on the part of the public, may avert many of the
calamitous tlTects which would otherwise result
from such a eatastropha. There is Scarcely
.another bank in Scotland (they ado) which. if time
as allowed by the creditors, is so able to draw
upm the rescources of its wealthy proprietary.
The heldees of the notes of the bank are endoinen
not to Net Nvith them .at a diseouut, as lull
ultimate payment is certain

When Dr. LiYingstone visited 14,!eds, the Chem.
..ber of Commerce of that town adopted memorials
to Lord Clar,%ndon, reqtzesting him to use his
:influence with the Portuguese government to
.-iseetture the free, nxvigation of the Zambesi, and w
„give that freedom of transit. and _freedom of carn-
mercial in the Portuguese colonies, on
both the west and g.last rousts ut Africa, which are
necessary, in order to develop° the resources of
these colonies, as well as of the native districts
The memorials were presented an tlie;sth instant
to Lori Clarendon, by Lord Goderich and General
•

Thortlpsan. The :latter gentleman writes to say,
that Lord Clarendon listened most attentively to
the statement which we made to him, and gave us
very sirisfact9ry assunceec es to the intentions or
the goverriment. Dr. Livingstone, he sail, would
proceed t,) Lisbon with the strongest recommenda-
tions both to the king and (I,3vernment of Portu-
gal, and he azsufed Lord GoderiOi that he would
receive the hearty support of our Minister at that
Court in his elf ,rts to secure the freedom of the
w.vigation of .the ZThesi, an I the utmost facilities •
Pier commercial intercourse wiih the interior of 1,
4frica, It wou'd appear that LOrd Clarendon is

fulZy impressed with the necessity- of encouraging
the growth. of Cotton by ail praeleal meant'.
Thel,-nportaut subj ,et ofthe..recent renewal of the

slave-:rade on the West Coast of Africa,
in of the French
onnse,Tionce of the proceedings
acooraang to Lord Clarendon, most abominsbie,
and be teals us that the attention of the Govern-

meat has been strongly direlted to the in.:tter;an4
th it th,ty are in communication wi'h the Fren:h

goverarnent Li respect to it.
The. local news this morning is not of the leas:
moment. The cases at tae County and Police

Courts will _be found reported at lull length in

an.)therp srtio3 of to day'simpiession.
Of Conti9ental news there is not a great variety
%lay; yet it is of tta interesting description. Trie