The Sun.
London, England, 1837-06-16 00:00:00

(From the Ti►xes.)

The Bank Directors sat in deliberation to day (Thurs-
day) on the application for assistance to the great American
house, Messrs. Brown and Co., of Liverpool, and after a
protracted discussion, have decided on gi% ing it. Accord-
ing to the current statements in the City, the securities
offered were of so unexceptionable a nature that it has been
determined on not only to grant what is asked to meet the
engagements for this month, the amount of which is very
large, but to carry the firm entirely through, and set them
free as the claims come in from the whole of their outstand-
ing obligations, We arc unable to say that such statements
are incorrect ; they very possibly represent the true state
of the case, but they would have been more conclusive and
satisfactory to all the parties concerned, if they did not
recollect that in the instance of the house of George
Wildes and Co. a similar engagement was understood to
have been entered into, which was afterwards broken.
It would appear also that the question was not decided
until after a long discussion, as up to three o'clock some
doubt prevailed. It was disposed of, however, shortly af-
terwards, and, as we arc assured by the unanimous vote of
the Board. An express started for Liverpool with the in-
telligence the instant the court broke up. Of the number
of Directors present at the deliberation re cannot speak
precisely, but it is positively said, and the fact is not unitn-
portant, that Mr. J. H. Palmer did not attend this meet-
ing. Of the outstanding engagements of the House which
has been assisted, some statements which seem very extra-
vagant have been made. They may, perhaps, be taken
safely as requiring the aid of the Bank to the extent of
neatly 1,000,0001. in the whole. Some considerations as
to the consequences of any embarrassments of this house in
the great manufacturing district in which it is placed, are
said to ba,-:e influenced the Bank, independently of the cha-
Ti
meter of the securities offered. The Directors have not
only to guard agate:t loss, but to weigh well the effect
which so large an increoe of issues may have upon the
circulation.
The bills of a leading Liverpooi house, that of Bolton,
Ogden, and Co., have been refused payment to-day in the
city. It is not known, however, by any Accounts from
thence, that the firm has actually •stopi,cd.
Besides tile subject already adverted to, it is under-
stood that the Bank Directors were occupied in consi-
dering the propriety of taking up those three houses
which were suffered to fall last week, and that this was
brought on by a resolution passed on 'Tuesday, at a
Meeting of the creditors of Messrs. T. Wlggin and Co,,
and sanctioned by most respectable names, that the Bank
should be solicited to reconsider that step, in the new
stove of things which has been disclosed in the American
justify
the which was calculated in their opinion to
the Bank in retracing that course. There is reason to
believe that not much time, if any, has been occupied
iu till; matter, and, at all events, nothing of the nature
hinted at has been done.

(From the Morning Post.)
The Bank Directors have to-day (Thursday) held their
ordinary weekly Court, at which they came to a decision
respecting en application made to them by the great !Li-
verpool firm so frequently alluded to of late as being
undt r temporary embarrassment, and, as this decision
has proved favourable to the parties making it, we have
no longer the same scruple that we have hitherto had
iabent naming them. The house in question is that of
Messrs. William and James Brown and Co., one of the
largest and most eminent commercial establishments in Eu-
rope. The transactions of Messrs. Brown and Co. are
ellictly, if not exclusively, with the United States, and such
o
s
has been their character for integrity and prudence, and

ndouhted ere, from all we can learn, their melees or satis-
fying every just deneind the eau be reale upon theue
flat it is muell to be eeerettee,r.e think, that tie
'Back Directors did not feel theneeAves warranted
in acecti:ng to their application for assistance with
rather recre promPeitnde then they have done, for at
their meeting of this day they came to the determination of
carrying them on to the end of the current year, wh telt is
i
understood to be as effectual a measure .of relief (IS f they
had at once undertaken to release them from the whole of
their outstanding engagements. Of the entire solvency or
-Messrs. Brown and Co., we believe we may venture to
affirm that no question whatever is entertained by the Bank
Directors ; and, notwithstanding that the amount of their
acceptances is large, such has been the strict regularity of
their proceedings that not a particle of accommodation
paper is to be found among the number, almost the whole
mass of them having been given for manufactured goods
shipped to the liiked States. Messrs. Brown and Co.
have been required to give security for the advances made
to them, as was the case with the three great London
houses wllo suspended payment a short time ago, namely,
Messrs. Thomas Wilson and Co., Messrs. George Wildes
and Co., and Messrs. T. Wiggin and Co.
We stated two days since that the leading merchants in
the City, being of opinion that our commercial embarrass-
ments would very shorly be found to be at an end, con-
templeted making something like a public declaration to
the,. effect. We are now informed that this is still the in-
t4eition, and that, from the great confidence they have in
the ability of the several houses we have just enumerated to
pay the whole ot. their debts in full, that a memorial to the
Bank of England is now in the course of signature, re-
spectfully calling upon the Directors to re-consider the
cases of the parties, with a view to placing them in
the same position that they have placed Messrs. W. and
J. Brown and Co., and which it is felt that they are
bound in common consistency to do, the circumstances
of the various applicants being precisely similar. It
isetionsidered that as there has in each instance been
ample property to cover every possible claim that the
Benk could have upon them, and that as time was in
reality all that was wanted, none of their acceptances
aught to have been permitted to be returned. What the
Directors may say to a representation of this nature, sup=
ported, as it doubtless will be, by all the commercial opu-
lence and intelligence of the City, we are not prepared to
anticipate, but the. crisis is one of a most extraordinary
kind, and we may venture, at all events, to insure it the
utmost attention.

'We are sorry to have to announce the failure yesterday at
Liverpool of the highly-respectable mercantile house of
Bolton, Ogden, and Co. This firm were largely engaged in
the American trade, and their stoppage appears to have
been consequent. upon that of the American houses in
London. Messrs. Bolton and Co. have an abundance of
assets to cover their liabilities, and here is, therefore, ano-
ther instance of parties in good credit being compelled to
suspend payment merely from the temporary withdrawal of
the ordinary banking facilities of the country.

VIZ TCF,S OF STOCKS TILTS DAV AT r6NE O'Ci... .OK.
',ank St..a:k -
.3 per Cent. -,.-. ,‘,.. •••• •.. .9,) ",''.'9,r, ' • 'Ato 3',,tr, - - •_.• '' '''s '*, Mr'.
1 per Cent. :lit, ......... • r„, —•-• S:,uth 5.?.. ..,, I,ek ... ~ . ,i, ...i.., .........-.
.3
P f.. er .I,t . . -.. . . . ..
-• .9; V.ii ()Id Anr.'n.ifit, ._ —
iii, to It, •,....., ~ ..
.... +nv.;..,,';44, yx,,,,, Ditto.... ........ .....---- ••• --
_ . ._.

'''''V 3.54 ~,'" Ce 7 t., .....1.,,f....% 'L.-- :i per Cent. A nruitt -..5, 17',1... --
%le,: 5 rer Cows. - , Excll. Bilk, ti. 1, {r. 13 35 plp.
k 81,, Lebl.:A rtuitiost.o.,pire Ditto -0 ..• . ,- '4'.. t "1.
J:111. 5, j ~•,, l4 9-111 X, Ditto ,-...7.11
Oct„ .. fSSI ... ...... .. - pitTys ~..-6-;,,,,ciai - tun
Jan. 5, gill ••• -77- Int..° Advert ~.,c.c '3a 32 311111
Jan. 5, lift v*: .. ..... - 'Bank stock f,r Account -
April 5, l'i4**,. - , India Stock to: Account or, 1
Jan. 5, 11:,70 - Consols tot Acccnnt ... ~. ..11, 4 '';'i

emittrn. - pm.