The Sun.
London, England, 1837-06-05 00:00:00

not be surprised ultimately to find it much larger, espe-
cially if their suppbsed preference under the guarantees is
;hakm for Which they must prepare themselves for a hard
fight with the general creditors of the houses which have failed.
Tim loss may produce one good, in altering the mistaken sys,
tem of advances tinder which the Bank business is carried on
the Direi..lttA's will feel for the proprietors, or may he made to
NO, though they have no sympathy with the rat lire
public.
We are happy to hire it in our --
ruiver to state that the fail,
ure of the 0/Kt great American housel, which took place
Zl2, te,t'thY: is not ex'26)Ctii to be attended with anything like
tne disastrous CortseqUeriCes that many persons have predicted.
With a liberal allowance for bad debts; Messrs. thotnah Wil-
ton And Co., Messrs, George Wilde and Co., and Messrs.
'timothy Wiggin and Co., are, we are assured, each of them
able to exhibit assets to the amount of from two to three hun-
dr,,d thousand pounds beyond that of their liabilities ; and
although the arrangement of their affairs may be a work of
time, no doubt whatever can, therefore, be entertained as to
the issue.

Messrs. T. Wiggin and Co., have issued the following
Circular :

" London, June 3, 1837.
" Being under the painful necessity of suspending payment,
we are anxious to diminish foar and excitement as much as
possible ; and, therefore, solicit attention to the statement
which we presented to the Bank of England, which was as
follows, viz. :
Bill engagement, but since reduced .... £674,700
Private creditors
Advanced by the Bank against notes of debtors 200,000

908,100
Assets after deducting 103,8001, for bad debts,
and which we deem extravagant

484,700
Deduct subscribed fund... 200,000

Our surplus capital will be
" We trust we shall be able in time to pay every one in
full, and we shall therefore propose to our creditors to wind
up our concern under inspection, which we hope will meet
your approbation."
The Bank Directors met again to-day; but for what parti-
cular purpose has not, we believe, transpired. Fresh appli-
cations for assistance are, however, supposed to have engaged
their attention.

LIVERPOOL, JUNE 3.
The decision of the Directors of the Bank of England re.
specting the embarrassed American houses arrived -here yes-
terday afternoon. As the decision of the Directors was not
known when the evening papers were published, or when the
mail left town, a London banker posted down to Birmingham,
where he arrived yesterday morning, and where he met with
a party of gentlemen who were making the first excursion on
the Grand Junction Railway which connects Liverpool with
Birmingham.
These gentlemen, when they arrived in Liverpool,
made known the news on 'Change, which produced, of
necessity, a feeling of considerable despondency, although
the result was anticipated, in consequence of the exceed-
ingly unfavourable accounts which the last arrival had
brought from the United States. One of the houses
which the Bank declined any longer to support immediately
stopped payment, and it was apprehended that other failures
would follow. Up to this time, however, affairs by no means
realize the worst expectations which had been formed. Of the
three American houses in difficulties, which the Bank of
England originally rescued from destruction, only two have
branches here, and one of these, it is said, will be able to
wind up its affairs without the assistance of the Bank. This,
however, is problematical. Certain it is that the refusal of
the Bank has been productive of less serious results than were
generally anticipated. The Cctton Market to-day has been
comparatively brisk, and prices have been little, if at all,
affected. The sales have been 3,000 bags.