The Sun.
London, England, 1825-12-31 00:00:00

• FAILURE IN DUBLIN'.

DUBLIN, DEC. 26—We have at length begun
to feel the consequences of the embarrassments of London
One of the most eminet merchants in Dublin has failed; the
name of the individual is Henry Higginbotham. This gentle-
man formed one of the very few general merchants that Dublin
can boast of. His trade was very extensive, particularly in the
article of teas. Ile was always considered a man of the most
solid credit ; his failure, therefore, has caused a very great
sensation ; indeed, I might say that it has caused a panic...—
Mr. Higginbotham speculated largely in the funds. His loss,
which ought to be settled for on the next accounting day. cal-
culating at the present state of the funds, will not fall short of
100,000/. The certainty of this dreadful loss upon Stock
Exchange speculations alone, has had so great an effect
upon the mind of this unfortunate gentleman, as to have re-
duced him to despair. Although not pressed by any imme-
diate or pressing difficulties, he closad his doors, and took to
his bed. His connections were extensive, and of the first class in
our commercial society. He made known to some of his nearest
friends the state of his affairs ; and it is certain that they
offered him a loan of so large a sum as 300,0001., if he could
undertake to assure them that that sum would be sufficient to
meet every contingency, and to bring his house over all diffi-
culties. Mr. Higginbotham; upon looking more narrowly into
the state of his affairs, declined accepting the money. The
failure of his house, to whose stability every man in trade look-
ed up with most unbounded confidence, heightened as it was
by the very high character for personal honour and integrity of
the head of it, has caused absolute consternation. Alen are
now prepared for extensive misfortunes : more than one man of
eminence and credit has been named this day on 'Change as
likely to follow Mr. Higginbotham. It would, however, be
extremely wrong to name any of these individuals. It is certain
that some individuals will lose by his failure ton very consider-
able amount. Mr. Higginbotham was agent to the Belfast
Commercial Bank. When he saw that he was likely to be. ob-
liged to shut his doors, he wrote down to that establishment, ac-
quainting them of the state of his afiairs. It was deemed pru.
dent to be prepared for any run that might be made on the bank
in consequence of the failure of its Dublin agent, and with that
view one of the secretaries hurried up to town on Christmas-eve.
He purchased gold to a very great amount, which was sent
down by the mail in large parcels. Up to the present unfor-
tunate crisis, Mr. Higginbotham was considered a very pros-
perous man in trade. In the year immediately preceding the
present, he was the head of a company formed under the Ano-
nymous Partnership Act. They put in a capital of 12,0001.
each, and on the Ist of January last they divided the profits of
the house, which were very considerable; so very considerable,
indeed, that Mr. Higginbotham, it is said, did not consider it
prudent to continue the partnership ; but determined to carry
on the business an his own account, joined merely by one emi-
nent individual whose name I forbear to mention, who put in a
capital of 40,0001., every shilling of which, it is said, he
will lose. Exclusive of his other concerns, Mr. Higgin-
botham was connected with an extensive distillery. The
utmost anxiety has been felt in Dublin throughout the whole
of the day. The news of the failure came down as sud-
denly as a clap of thunder. No one was prepared for it.--
-It is not yet known what effect the intelligence has produced
in Belfast. The Commercial Bank has wisely prepared itself
for the worst. Mr. Higginbotham served his time in the house
of Messrs. Shaw and Turbot, which is one of the very first in
Dublin. He married a lady of very large fortune in ready
money, every shilling of which, it is said, he received. He
has lived for many years in one of our principal squares, in a
style of elegance, which was not, however, considered too great
for his station as a commercial man. Ilis loas is regretted very
generally, not only by persons in trade, but by those who knew
and regarded him in private life, as a kind, amiable, and
worthy man.—(mor„i„g Paper.)