The Sun.
London, England, 1857-11-19 00:00:00

COMMERCIAL FAlLuzae.

(From the Morning Herald City Article..)
The first failure repo:ted yesterday was that of
Messrs. E. Sioveking and Son, connected with the
Swedish and Hamburgh trade, and although ex
aggerated statements were circulated respecting
the amount of liabilities, the total will no doubt
turn out sufficiently serious to affect the particular
branches of business with which they have been
associated. It was stated early in the morning
that the engagements of the firm would be found
to approach 1,000,000/., and that the consequences
abroad would be extremely serious. Fortunately
the acceptances of the house will not reach more
than 500,0001., an amount in all reason heavy
enough, and, therefore, the effect will not be
so disastrous as. was anticipated.. Hamburgh and
the North of Europe will nevertheless suffer largely
by this suspension, and the full extent of the
mischief which will follow cannot be immediately
estimated. The circular of the house, issued this
afternoon, is subjoined :
" 65, Fenchurch-street, London, Nov. 15. 1857.
" Gentlemen,—With feelings of the deepest grief we
annc a ice to you the duty which has beim forced upon us
to suspend payments this day.
'' Embarrassed by the unexpected failure of several
houses, whose acceptances we held to a large amount,
and the fall of one of whom has compromised some ot
our West India connections, with whom we are deeply
involved, we have also at this critical period been de-
prived ot the customary channels of accommodation ;
and the efforts of friends to support us have been ren-
dered nugatory, by the impossibility of making available
a large amount of bills now in our possession. We are
thus compelled to taka a step, of the a'nful necessity
of which we had not until quite recently the remotest
suspicion.
" With the assistance of Messrs. Quilter, Ball, and
Co., we shall prepare a balance-sheet, which shall be laid
before our creditors with all possible dispatch ; but we
need hardly add, that from the nature and extent of our
business, some time must elapse before its completion.
" Bespeaking your kind sympathy under these sad
reverses,
" We remain, Gentlemen,
" Your obedient, humble servants,
(Signed) " E. SIEVEKING and SoN."

The failure of Messrs. Gorrissen, Huffel, and Co.,
described as general mercharb, was made known
in the course of the afternoon, and occasioned some
regret. The acceptances of the firm represent
600,0001., but nothing definite has yet transpired
with regard to assets, although it is expected that
they will prove favourable. As mentioned in the
subjoined circular, heavy cash advances to parties
in the United States, the firm having acted almost
in the capacity of bankers, have precipitated the
catastrophe. The house is also reported to have
been largely concerned iu operations in sugar, and
the effect of the suspension will, it is apprehended,
like that of Messrs. Sieveking, be seriously felt in
Hamburgh, where extensive connections have been
maintained.

"1, Royal Exehange-buildings, London,
8 1857
_ _ Nov.• , •

" Gentlemen,—With deep regret we have to acquakt
you that we are compelled to suspend payment, and
have in consequence to request the indulgence of our
creditors.

"Heavy cash advances to parties in the -United States,
who are at present unable to meet their engagements ;
the effect of recent failures in this country, in suddenly
rendering unavailable remittances already received ; to-
gether with the uncertainty which exists respecting
future remittances, are the causes which have necessi-
tated this step on our part.
"Our books are placed in the hands of Messrs. Quilter.
Ball, and Co , with instructions to investigate ou r
affairs, and to prepare a full statement of them for sub.
mission to our creditors at a meeting to be convened
with the least possible delay, and of which die notice
will be given.
" We remain, Gentlemen,
"Your most obedient servants,
(Signed) "GORBISSEN, HIIFFELL, and Co,"
The failure of Messrs. Brocklesby and Wessels,
which was announced yesterday morning, has been,
it is alleged, produced through the suspension of
Messrs. Bardgett, Picard, and Co. The debts and
liabilities are probably under 100,0001., and the
result of the assets cannot yet be estimated. Au-
nexed is the circular of the firm intimating the
unfortunate erent

"Muscovy-court, Nov. 18, 1857.
"Gentlemen —We deeply regret being obliged to
announce to you, that owing to the depressed state of
the corn trade and the present unsatisfactory condition
of the money market, we have been compelled to sus-
pend payment.

by Mr. G.
"A statement of our affairs, which is now being pre-
paredbe submitted to you at an early period, and in the mean-
time we have to solicit your kind indulgence.—We are,
gentlemen, your b dt
Jay, of Old Jewry-chambers, will
e . servants,
havep
ende
not,
ot in , the
however, course obfeet hne
edxatye.
" BROCKLESBY & WESSELS "
Messrs. Svendsen and Johnson, another firm in
the Swedish trade, was announced as having sus-
pended
a young house ; bu n
ivTheire,
beingop operations
a et ioomn
t connection with
Messrs. Hoare, Buxton
and Co., and Messrs.
Sieveking and Co, have a
ton ps ce roduced this un-
satisfactory result.'
The suspension of Messrs.
Allen, Smith, and
Co., manufacturing chemists, and interested in
mercantile operations, was the last house reported
this afternoon. The debts and liabilities in this
instance are believed to be considerable, and but
little is known with respect to assets.
Some other suspensions for small amounts were
mentioned at the close of business, but the rumours
circulated with respect to an important Manchester
firm were contradicted. Several cases of bills being
returned were announced, but these do not always
involve a suspension of
payment.
A meeting of the creditors of Messrs. R. Bain-
bridge and Co., who lately failed, connected with
the American trade, was held yesterday, at which
a preliminary statement was presented by Mr. G.
B. Jay, the accountant, but as it did not grow the
position of the firm with regard to its Transatlantic
engagements, it was determined to appoint a c,un-
mi,tee to wait the receipt of advices from New
York.
The following circular was issued yesterday after-
noon by Messrs. Hoare, Buxton, and Co., in ex-1
which was announced
"23, Old Broad-street, Loudon, Nov. 18, 1857.
yesterday
of :
their suspension,
st Gentlemen—The unprecs dented state of the Money
Market having thrown unexpected liabilities upon us,
the result of which we are at present unable to estimate,
We have been under the painful necessity of suspending
our payment`. Our depeudescies are psi: &pally with
Sweden ; and relying ou the good faith and stability of
our corespondents there, which have hitherto charac-
terised their commercial transactions with us, we trust
we shall be enabled to discharge our liabilities in a com-
paratively limited period.
" We have placed our affairs in the hands of Messrs.
J. E. Coleman and Cl., the accountants, and propose to
have a meeting of our creditors at the earliest day
possible. In the meantime we shall adopt measures for
the most speedy realisation of assets for division, in order
to obviate as far as possible the inconvenience which our
suspension may have caused.
"The Calcutta and Manchester firms of Hoare, Miller,
and Co. are in no way affected by our suspension.
"Yours, very obediently,
" HOAR; BUXTON, & Co."
Yesterday the suspension of Messrs. Edwards and
Matthie, East India and colonial brokers, was an-
nounced under this head. To-day the firm issued
the appended circular :
,/ 17, mincing-lane, Nov. 18, 1857.
" Gentlemen,—It is with feelings of deep regret that
we have felt it necessary to suspend our payments.
" TI o failure of houses in thi I country connected with
United S ate!, combined with the serious fall in produce,
has caused us to take this step at once, in order to avoid
detriment to our estate.
"We have placed our affairs in the hands of Messrs.
Turquaud, Young!, sad Co., who will call a meeting of
our creditors as soon as practicable.
"In the meantime we have made arrangements for
transferring our business to Mr. Charles Sandiman, who
has been for several years in our house, and whom we
can safely and strongly recnamend to your kind sup-
port
" Trusting
we may assure ourselves of your kindness
and forbearance during the liquidation of our estate,
" We are, your obedient servant!, •
" EDWARDS & MATURE."

Signor Mario and Madame Grisi have returned flo
Brighten from Paris.