Northern Times.
Liverpool, Merseyside, England, 1857-11-12 00:00:00

g^"l MITHSON lAN HOTEL,
E OA. '4
AY,Corner of 11911mA-suss r, Naar YORK.
lilawisct In hottour of the SMITHSONIAN INaTITOTION„
Established at WAS a moron, by tilt.. U. S. Cosassag,
With Funds bequeathed by JAMES SMITHSON, Of ENGLAND.
aaliMg the Friendship of the OeriozaJ of the NaTioNat. INertrurtost
Is contacted on the System of Hotels in ENGLAND.
CH.I.S. H. SMITH.

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TBURSDAI, NOVEMBER 12, 1837.

THE DAY'S NEWS.

Delhi was completely in the hands of the British
forces on •the 21st September, and the whole of
theenemy were expelled, so that osir advises pee
the last mail have been ithly confirmed by the
despatch received at the Foreign Oliieo yesterday.
But the taking.of Delhi has iciest England dearly,
Geaeral Nicholson had been so severely wounded.
that he died on the 21st. On the 14th Sept., one
• week before the cnnplete oevunation, the British
forces lost 61 officers and 1,098 men. The-
edvices which we have received by this mail do
not mention the total amount of our loss in the
taking of the city, but there is not the least doubt
that feat-Oil carnage teak place. As previously
intimated, the King, hie sons, and his wives had
escaped. They were, however, evertakee about
15 miles south of the city. The King and his
wives were spared, but his eons and his grandsons
were executed on too spot, and their bodies taken
to Deihi, acid exhibited to the populace. It is
hoped that this summary dealing with the
Royal Family of D, ilai will strike fear
into the heert of the rebels. leueknow
had been relieved. The telegraphic despatch
intimates that Gen 'rat Havelock crossed the
Ganges from Cawnpore on the 19th of September,
and arrived in the vicinity of Lueknow on the
25th. On the 26. h, the enemy were stormed, and
by the 29th, they were comple ale routed, and the
city was iiiveited by the British. That this is a most
important victory, is apparent, from the fact, that
thncity-was so closely ooseiged, all the garrison
was reduced to siteh an extremity, that they had
determined to blew themselves up on the 26th,
rather thee fell into the hands of the rebels. We
are sorry to a. 1.1 that the relief of Luckuow has cost
us the life of a gallant man—General Neill was
killed, also 530 officers aial men killed and
wounded. The other portions of the news to-hand
is not so satisaietory as could he wished. The
Melvinia Couutry 'was iii a destitute state, and
Bhopawar hail peen burned. Scinde, though
quiet, was not deetned in a satisfactory state, and
General Jacobs was 111301.1 t proceeding to that
province. A plot hal been discovered at Bombay,
and two or three of the guilty ones tied been blo-tvis
from the guns.
- We regret to sly that Commercial matters remain
in a vary gloomy condition. In addition to the
stoppage of the Western Beak of Scetlend, an-
. nounce in cur impression of yesterday, we have
to-day to state that the City of Glasgow Bank has
also closed its d :ors These are the first instances
in which Joint Stock B inks in Scotland have met
with surge a cela:nity. It appears that the closing
of the Western B et:lk of Seetla.n.l has been caused
by the most reckless mismaniteement, which lets
the bank utterly unable to struggle against the
present crisis. Mr. John Taylor was appointee to
the management in October, 1852, and it has now
been arc irtained th•it this gentle:nen has advanced
the funds of the bank in the most reckless manner
to concerns which were totally unworthy of enlarged
credit. Four of these concerns have become
bankrupt within the last month, and the losses by
these houses alone are es..itnated at not. less than
I..ouu,vtro tee s .me tune tne directors have
exhibited very great negiigenee in overlooking
the transactions of their manager. Mr. Taylor
was dismissed from his ()Rise about four weeks
ago, bat it was too late to repair the mischief,
for an under-current of distrust had set in, by
which the deposits were in the course of being
withdrawn to• a vast amount. Looking to this
augmenting drain, and the great mses of American
bills becoming due in London, the other Banks
found it was hopeless to attemat to sustain the
Western, and hence the entastrophe. The Bank
had a paid-up capital of .£1,500,000, and previous
to the setting in of the witherawal of the deposits
it was understood to hold deposits to the amount
of about £l,OOO 009 sterling Its b teking powers
were thus set down as more than seven millions
sterling. It is co .solatery that not a ferthieg
will be lest by any but the shareholders, who
amount altogether to 1,200 persons. Among them,
hew ever, there are a large number of widows and
orphees, whose whole means had been invested
in the Bank shares, which of late years have paid
a dividend at the rate of 9 per cent. The
City of Glasgow Bank closed its doors yesterday,
at eleven o'clock. A run toek place the previous
day, which being continued, the Directors were
induced to adopt this alternative. It was estab-
lished in 1839, with a paid up c 'phial of 1,000,000/,
and a Reserve Fund of 90,6001. It had not less
than 96 branches, and has been paying dividends
of per cent. &wend failures have taken place
in London, Liverpool, and elsewhere. One in
London, a bi.!-/iscounting house, said to have
to a very heavy amouet. The Bank of
Fiance has raised its rate of discount to 8 per cent.
for hills of 31 days ; to 9 per cent, for those at 31
to 60 dad s ; nod to 10 par cent. for bills from 61 to
90 days. This will no doubt be pieductive of mumb
mischief, but it was the on y course which the bank
mull have pursued, unless it hal exercised ha
power of issuing additional notes. In France.
precisely the same as in this country, every branch
of business is affected, and a siirieus depreciation
in goods and produce has taken pl_ c', Silk had
undergone a milled decline, and holders cannot
realise except at a heavy loss Money is
scarce, and trades of all denominations are
put to g-eat imrnvenience. The transatlantic
crisis having caused a an:apathetic move-
ment both in England and France, a sudden
check has been given to commerce, but it
is sincere y biped that the evil will soon pass away.
Representations have been made to Louis Napoleon,
accompanied by a IN cutest that an export duty on
gold, or an addiqonal issue of notes, should be
determined upon, but this has not been complied
with, a fear, no doubt, existing, that any new urea.
sure might be instrumental in creating increased
uneasiness. If any novel experiment were tried,
it might he construed into an admission, on the
part of the Government, that affairs were exeeed-
ingly disorganised ; and as it is always their policy
to show that the financial and commercial relations
of the country are sound and healthy, they have
hesitated to take any steps. when, by waiting a few
weeks, a recovery might set in by natural means.
Tho pressure is too severe, however, to preclude
the necessity of some stringent regulation. From
France to Ireland is a natural transition. In the
latter country monetary affairs are, we are glad to
say, in a most sound position. Money is .com-
paratively cheap, and very few failures, indeed,
hive as yet been announced. At the meeting of
the R iyal Bank of Irelanl,yes'erday, it was stated
that that Bank was in a most finirishing condition,
and th tt no such thing as over-trading had as yet
been intr.:awed into Ireland. They declared a
dividend of 11 per cent. per annum, after leaving
a balance of some £15,000.

There is a variety of political gossip going on
just now. Tt is stared that Lord Palmerston has
determined to call P.A.:iarnent to assoinble on the
17th January. This is a fortnight earlier than the
usual time. The money question, and the state of
aff►irs in India is no dcubt tile cause of this
determination. We hear that, pending the ap-