The Liverpool Standard and General Commercial Advertiser.
Liverpool, Merseyside, England, 1847-10-26 00:00:00

STOPPAGE OF THE NORTH AND SOUTH
WALES BANK.

It is with the very greatest regret that we have this week
to announce the suspension of the North and South Wales
Bank. This is altogether owing to the injudicious con-
duct of those who, rushing for their deposits, are only
seriously increasing the disastrous effects of the present
commercial panic, and are the means of causing serious
hurt and annoyance to those who have more confidence
and consideration. We are informed that statements to
the prejudice of the bank were industriously circulated,
last week, throughout the whole of North and South
Wales, and that the apparent confirmation of them by a
paragraph which appeared in the London Express, of
Friday, caused such a feeling in the districts alluded to as
resulted in a simultaneous rush upon the deposits of the
bank throughout the principality, and compelled the au ,
thorities of the concern to determine upon a suspension,
an event which is formally announced to the creditors
and others in the following manner
North and South Wales Bank,
" Liverpool, 25th October, 1847.
" A moat cruel and groundless report, which got into
circulation in the principality early last week, has caused
a run upon the deposits of this bank of that magnitude
which, in the present restricted state of the money mar-
ket, it is impossible to meet. The directors. therefore,
are under the painful necessity of suspending the opera-
tions of the bank.
"ln the meantime the directors beg to assure the cre-
ditors of the bank that every exertion will be made to
liquidate their claims at the earliest possible period, and
that no apprehension need be entertained of any ultimate
loss on the part of the creditors."
Meanwhile those who can surmount the temporary em-
barrassments necessarily consequent on such an event
have not the slightest reason to be alarmed. We learn
from go'od authority that the bank is, notwithstanding
the temporary derangement of its affairs, arising from
the causes above alluded to, really in a very sound and
good condition.
We understand that the directors met yesterday, but
we believe that no definite step was resolved on ; indeed,
it will be at once perceived, that as the branches of the
bank are twenty-one in number, some little time may
elapse before the directors are able to make public the
result of their deliberations. The affairs of the branch
were, we are informed, considered very satisfactory ; and
whilst we can now assure all the creditors of a complete
liquidation of their claims, we hope next week to announce
a resumption of its payments.

LIME-STREET WARD.—Mr. J. A. Picton has come
forward for this ward in opposition to Mr. J. B. Lloyd,
the present member, who is again a candidate, and whom
we hope to see returned.
Mr. Fonblanque, for many years connected with the
weekly press, has 'been appointed to the office in the
Statistical Department of the Board of Trade, vacant by
the promotion of Mr. Porter to the place formerly filled
by Mr. Lefevre.
BOILER EXPLOSION.—On the morning of Thursday
last a fearful boiler explosion, by which four persons were
killed and a number severely injured, took place at the
New Hay Mills, near Two Bridges, about two miles from
the town of Rochdale, the property of Mr. Samuel Berry,
a woollen wanufacturer,

Articles.
COFFEE, per cwt: in bond
Jamaica good fine & ord
middling
gocd middling
Brazil ordinary.

mid. to fine mid.
CorroN per lb.
Boweds fair to good fair
New Orleans do
Sea Islands do
FLOUR per 1961b5.
U. S. new, x duty
Do. sour
Canadian new
WHEAT, Eng. red p. 70Ibs
x duty.

Canada
Foreign
OIL Palm per ton. ,
Pale Seal
Galipoli
SUGAR, Brit. Plan., p cwt.
Muscovado middling
good ..
Mauritius brown ..

good & fine yellow
E.I. Bengal low to mid.

good to fine yellow
Manilla, duty paid....
Havannah yellow, d 0...
Brazil yellow, d 0...

Jan. 1

45/ 55/
58 65
70 90
27 30
42 60

ild ncl
7i- 8
15 16

35/1 36/1!
30/1 32/1
34/ 36/
9/3 10/
8/9 10/
7/10 10/
770/ 780/
nominal
1960/ 970/,

46/ 48/
49/ 51/
42/ 43/
48/ 52/
44/ 46/
50/ 52/
43/ 47/
48/ 54/
45/ 48/

July 2.

50/ 63/
65/ 85/
65/ 85/
28/ 33/
42/ 70/

Oct. 15.

40/ 50/
55/ 80/
55/ 80/
28/ 33/
42/ 70/

/n /71
a /18 71
/16

/5i /51
/6 /6a
'/124 /141-
33/ 35/ 26/ 27/
29/ 30/ 21/ 22/
30/ 34/ 25/ 25/6
9/6 10/6, 7/6 8/4
8/9 1/ 1 6/
8/6
740/ 101/3 4/ 8/6
740/ 750/ 600/ 620/
540/ 550/560/
920/ 920/ 940/ 960/
1
39/6 42/6 37/6 40/
43/6 45/6 41/ 43/
36/ 38/ 33/ 35/
42/ 47/ 40/ 45/
41/ 43/ 36/ 40/
44/ 45/ 46/6 48/
40/ 43/ ' 37/ 40/
44/ 47/ 43/ .46/
42/ 45/ 40/ 42/

PRICES OF LEADING RAILWAY STOCK IN THE FOLLOWING
MONTHS OF 1847.
Jan. 1. June 1. Oct. 1.
Birk., Lan., & Cheshire 4 44 34 4 14 11
21 pd
(. (.) (61 pd .)
Chester and Birkenhead 50 51 4254 pd
421 351 36
Eastern Counties. . . .. . . 23 231 191 20 16 161
Edinburgh and Glasgow 77 78 69 71 50 51
Great North of England 237 239 232 234 220 222
Great Western l2B 130 113 115 98 100
London and N. Western 195 197 174 .176 1511 1531
London and S. Western 63 64 641 651 56 57
Midland
Northern and Eastern
South Eastern and Dover 40 41 364 36+ 29 291
(x div.)
York and North Midland 92 94 85 86 into Stock
FOREIGN.
Dutch Rhenish
pd 5 44 44
(7 21pd. 21
(6 .) )
Paris and Orleans
Paris and Rouen 35 36 37 38 36 361
BANKS.
Bank of L'pool, pd. £l2l 23 231 201 204 20 201
Borough Bank „ 10 114 114 10/ 1041 94 91
Commercial „ 10 174 184 16 164 141 154
L'pool Banking Co. 10 94 104 11 111 91 10
M. and L. District 10 134 1311 121 1241 124 124
N. and S. Wales „ 10 9 94! 8 841 84 84
Royal Bank ~ 500 805 815 810 820 770 780
Union Bank „ 10 1121 13 i 114 1111 94- 94

LATEST INTELLIGENCE•

(BY EXPRESS)

LONDON CORN MARKET.—YESTERDAY.
The best-conditioned parcels of English Wheat met a fai..,r
demand at about Friday's prices, being 2s. per quarter lta!:
the quotations of last Monday; but damp samples were 4'
slowly at a greater reduction.
A moderate sale was experienced for Foreign Wheat at ls;
to 2s. per quarter below the currency of last week;_ factolari
the whole showed much firmness under the existing move
pressure, and there were no forced sales at this day's Inar,s of
Town-made Flour was unaltered in value, and ship marbling quality were not offered lower; but on foreign a dee 04
of Is. per barrel was submitted to, and the sales made W.
quite as irregular as the qualities were various. but
Choice malting Barley brought nearly as much moneY,
secondary sorts were is per qr, cheaper, whilst grinding saa'r
brought full prices.
There was a fair steady demand for good Oats, at fall,,ioY
much money, but other sorts were taken slowly at quite as
rates.
Malt was not in so good demand, the buyers reqiii,,,,,,rog
some reduction in price, which for good qualities the se
were not disposed to accept.
Beans were scrxce, and fully as dear.

MONEY MARKET—YESTERDAY.
After the usual hour for closing the Stock Exchange on Satii„ejr'
day, the Consols ran up to 811, and this morning they op%ei
at 1 per cent. advance upon that price, being done at 82 ; iga
declined to 81i, and are now quoted at 82/. In the forgel
market prices are rather better. In the share market
are better. The following. are the uotations : „ ts.f
Exousa.—Bank Stock, 181 4;q Reduced Three per ue"„r
80 1 ; Three per Cent. Consols. 81 # ; Three-and-a-Quartqjp
Cents-, 81 1 Long Annuities, 8 3-16 1 ; India Stock, 2..`,10,
India Bonds 40 53 dis. Exchequer-bills, £l,OOO, 235. 275.
Consols Three per Cent. for Account, 824.

IMPORTANT RESOLUTION OF TO

BANK OF ENGLAND.

We have been favoured by the authorities of the In
of England with the following copy of a letter addresTa
to the Governor and Deputy-Governor by the first V,
of the Treasury and the Chancellor of the Exchequer;
Downing-street, October 25, 1134/:
sur
et ept aeo
snet ntrh,e—eg
regret
etr
commercial
epressure Majesty's 7
nt
egovernment
exhicasotvueedv strfeoyer: me
vatli
wtheeGekge
that this pressure has been aggravated by a want ei•
confidence which is necessary for carrying on the ordiP"
dealings of trade.
They have been in hopes that the check given to trantsig'
actions of a speculative character, the transfer of caP'
from other countries, the influx of bullion, and the fee;
ing which a knowledge of these circumstances might 1151
been expected to produce. would have removed the Pre"
vailing distrust.
eedf
They were encouraged in this expectation by the sP
cessation of a similar state of feeling in the moue'''.
April last. -
ef
These hopes have, however, been disappointed, and Il
Majesty's government have come to the amelusion tho
the time has arrived when they ougat to attempt, by so);
extraordinary and temporary measure, to restore e°o
dence to the mercantile and manufacturing cominguitl'of
For this purpose they recommend to the Directors
the Bank of England, in the present emergency, toen_
ration within reasonable
large the amount of their discounts and advances; uP°P,
approved security ; but that in order to retain this °Pest
should be charged. limits,prest.
circumstances they woo;
suggest that the rate of interestcshcould not be less tloil
per cent. thß
If this course should lead to any infringement dared
existing law, her Majesty's government will be Pre! ~
to propose t 6 parliament, on its meeting, a Bill of Inue
nity. 0,
high rate of intere,
They will rely upon the discretion of the directors

reduce as soon as Possible the amount of their notes
extraordinary issues should take place, within
limits prescribed by law.
Her Majesty's Government are of opinion that ject
extra profit derived from this measure should be ode °t
to the account of the public, but the precise 333°
doing so must be left to future arrangement. f
Her Majesty's Government are not insensible ° to
evil of any departure from the law which has placedei
currency of this country upon a sound basis ; but 11;),
feel confident, that in the present circumstances, tea,
measure which they have proposed may be safely B,l°,Ptot
and that, at the same time, the main provisions 0' ver,
law and the vital principle of preserving the controlio
tibility of the bank may be fairly maintained.—We.ble
the honour to be, gentlemen, your obedient Liu"'
servants, (Signed)

JOHN RUSSELL'
CHAS. WOOD•
The Governor and Deputy Governor of the

Bank of England.
Resolved,--1 hat this Court do accede to the rece.,;
mendation contained in the letter from the rn,.
Lord of the Treasury and the Chancellor of lePr.
Exchequer, dated this day, and addressed to the Gov.,at
nor and Deputy Governor of the Bank of England,
wh
has just been read.
omEfxoTT;hlei
taeatilheuatashdensrve
than
cildnnle
Bills,
:bas2uenordoomoror: rate
enee
bodronefafpBßodpriipr
oisplecsrevo
or
jeucfdoenEndt
stsxo.ectucohuba6rniieltj;eoornt
b, ham
tre
,knei
y
Governors, at the rate of 8 per cent per annum•
(Copy of reply.)
Gentlemen.—We have the anhkon
letter of this day's date, which we have submitted to
01;„
~
Court of Directors, and we enclose a copy of the res
tion, and
Boof uErntgolaanckdrio°welte4o497°:ll"
We have the honour to be, Sirs, your most ()heal°
servants,
(Signed) JAMES MORRIS, Governor.
H. J. PRECOTT, Deputy-Governor'
To the First Lord of the Treasury and
the Chancellor of the Exchequer.

The Marquis and Marchioness of Salisbury have r
rived at Hatfield House, Herts.
Sir Robert H. Inglis, Bart., M.P., and Lady
have arrived in Brussels from a tour in Germany. oet•
William Henry Barber, the attorney for Joshua coo
cher, in the celebrated " Emma Stack" will forgery -
has received a conditional pardon. He is free to goo
any part of the world, except the United Kingdom. ,ty
this is thought to be only a precursive step to an lll'
ditional pardon.