The Liverpool Standard and General Commercial Advertiser.
Liverpool, Merseyside, England, 1848-02-08 00:00:00

TUESDAI

intention of

NING

FEB. 8

st, we intimate(

1. VIZ

, the disastrous

ris with our Ea

.eceipt, on Wednesaay last, of further and
aentable intelligence by the Overland Mail. The
ue of failures of houses of the first standing
late. Of five of these the lia-

in g an

the de

sden, Broth(

Hug
Colv
lyal
Cockerell

Shearman, Mulli

)n less than two mil-

.eported assets are short
pected to reach near the
ut down. The follow-

their engagements

id Co

and Co,

Estimated

Liabilities. assets.
£lll,OOO £109,500
240,000 280,000
217,000 125,500
1,257,000 1,300,000
92,000 85,000

£1,917,000 £1,891,000

Of the above, Messrs. Hughesdon and Co. and
Cockerell and Co. are to be wound up under the
Insolvent Court ; Lyall, Matheson and Co. are to
be wound up under inspection; whilst trustees are
appointed for the present to manage the affairs of
Colville, Gilmour and Co. and Shearman, Mullins
and Co.

Of the prospect of a satisfactory liquidation of
the debts of these firms, the correspondent of the
London Times, dating from Calcutta, on the 23d

Dec., thus remarks

Liabilities are certair

claims upon indigo conc

prising the original p

to the unprofitablen
liens of cliff

nds, confl

*various other dra
first, are apt to

of the firt

lets are doubtful, esoecially

part of i

Judi claims, often com-
state, are swollen by the
I are large in proportion

Morig

laicns to priority, and
'e been overlooked at

ppearance. Moreover, in
:ounts, the whole property
, without marking off that
curities are held; whereas,
,e method of the London
ated as available for the

according to the

liquidation of t

only the estimated surplus

which are specifically se-
generally are

t firms

exceedingly des

The same remarks apply to the condition of the

hold out hopes of its W
sion of a working capil
" the nature of the secu

nate solvency and posses-
premising however, that
ties, in which part of it is
invested, may make the rendering it again available
for purely banking purposes a matter of difficulty
and time." The Bank is said for many years to
have been little else than an indigo establishment,
and to have at this moment no better prospect than
such establishments. Many of its factories are
stated to be worthless, and the best of them to be
nearly unsaleable, and likely to be unproductive
without further extensive outlay, which there is
little chance of being made.

Under such circumstances, and with fears im-
pending of further failures, it is not wonderful that
the whole commercial fabric in India should be in
confusion ' • that distrust should prevail on every
side; and that nearly every article of produce
should be unsaleable except at ruinous sacrifices,
especially for produce suitable for the British
market. With such the case—with the produce
which India has to offer in exchange only capable
of being realized at a loss alike to the native grower
and the merchant, we can be as little surprised that
British manufactures and products are more de-
pressed in value than ever. The following, which
from the Bengal Harkura, is equally applicable to
the condition of affairs in other presidencies :

In the import trade there have been no symptoms of
nproved demand. Indeed, the depression has been
dmost greater than at any period since the commence-
,ent of the present troubles. The destruction of confi-
- and impossibility of obtaining discounts on any
European or native, or of selling Hoondees
"- anterior, take away from the usual
as well as the inclination to
however, beginning to be sold
during the last week is deci-
stem of internal trade is placed
e footing, even the great
eduction in the extent of all snipment to this country
must fail to prcduce any effect upon prices. Cotton -

acceptances,.
against miss

iedly lower

general mark(
Until the s 3

i more secur

twist and Metals

arce an exception, are only

Leable at prices under previous transactions

We must again direct attention to a statement
above that the firms which have suspended in
Calcutta, as also the Union Bank, have had their
capital largely engaged in the Indigo cultivation.
No doubt some of the large houses, which have
suspended in this country, are similarly situated.
Several of them, too, are proprietors of sugar

estates, and

_
are in other branches of enterprise,
employing, feeding and clothing a numerous popu-
lation, and actively developing the varied resources
of this fine possession. When we notice, therefore,
announcements of a " general decline in produce ; "
4-dined nearly 1 r. per maund ; "
.lout a bu'r- " that opium has
J rs. JO' and that it is
said of Indigo that—

that " sugar

that silk i

without a buyer;

Sin declined 40 rs. per chest;