American watchman and Delaware advertiser., 1825-12-16
THE GREAT FAILURE.


II is mentioned that the amount for which the
banking and commercial house of Samuel Viii
llams, OF London, has stopped payment IS ascer-
tanned to be 9l5,000l sterling; 5i7 ,o00l we're Tor
accep,ances the amount Of deficit is moi ascertain.
ed. Prompt measures have been taken TO bring
the affairs of the house to speedy close and II is
supposed that the dividend will be from 10 to ! >
shillings on The pound.-The merchants OF Eng
land and the United States had unbounded conf
dence in Mr.. Williams, and this calamitous reverse
of fortune has in no degree diminished their es.
TEEN for him as merchant, or man OF the strict
est integrity and honor. The losses 10 this coun
Try will fall heaviest upon Boston, Salem Newbury
port and other eastern places, but will extend TO
this and some Of the southern cities.
The Boston papers Of Monday, mention that
there never was so great an excitement before
among the business men Of that city as was witnes
.ed on Saturday. " Merchants Hall was filled
ne arly all day. with listeners and reporters every
one seemed 10 be anxious for information, and no
was able to give ii, except from report" Another
paper says" The sensation produced IN the mer
camille world by the intelligence. exceeds that
arising from any failure which has taken place for
many years." Several Of our merchants lsays
the PATRIOT we're panic struck on Friday nigh, by
the appearance OF law officers in their houses, 10
secure by trustee process all property owned and
all debts due 10 the house OF an eminent banker in
London, in whose solveney unlimited confidence
has hitherto been placed by our importing mer
chants but which j. is rumored has failed The
Information was received here BY 40 express from
New York =
"There was strong agitation (says the Boston
Daily Adversely on the Exchange, on Saturday,
in consequence Of information received the evening
previous, throwing doubt on the sorency Of an
sminen, Banking House in London, in whose Sc
curi,y the merchants and capitalists Of this town
and state have deep interest II was understood,
that in consequence Of the information received,
trustee processes were Immediately served, TO Sc
cure all the credits tha, could be discovered in the
hand. of persons here.r-.N. I. Statesman.
The private letters received al New York"
says the Mercantile Advertiser. "gve more "a
vorable view Of the occurrence. They state the
amour, Of failure is 74000ol, o! which 5l7 .ooOi,
is acceptances,-that committee OF investigation
are OF opinion the property will pay from ten TO
fifteen shillings in the pound,-and the house Of
Barring & Co. and Wilson, and Mr.. Timothy Wi
gan (who continues the banking esablishment,) had
come forward an6 taken up great amount Of the
aeceptanees, and on the whole, not 50 much mis-
chief vas expected 10 come from the stoppage, a.
night have been apprehended Mr.. w. was made
bankruP, for the purpose OF facilitating The set.
ilemen, Of bis concerns
The New York American says the failure will
hardly be fel, 10 New York and ha, The Boston los
SSs iuC>s WHO are Ntii eole 20 Dear u.
A circular from respectable house in London,
whose opinion on this subject, is, from their situa.
,iou. particularly entitled 10 respse, makes the fol
loving estimate Of The debts and effect. ot Samuel
Williams, ESQ. :, the time Of his failure :-Deb,s
o5o,ooo!-EHee,s, 500, 0,o00t-De6cieney, l50,00o!
.Ftp FORK, Dscembsr 10.
FROM LOSDON.-By the Packe, ship FORK,
captain Baker, We have reeeiTed London papers OF
lhe evening Of the 7ih November.
The LoDdon Morning Chronicle Of the -,h No.
rern5.r, rays, " We are happy in having ii in our
poses to STATE, that the la,e failure OF grea, Ame
,ozn house in the city, will give rise 10 ony tri
Hins loss The payments Of The respectable firm
Sere suspended, owing to heavy sccep,ances on
American account, TO meet which the ex pec,ed pro-
oeos did DC; arrive 10 tpe. partly in consequence
/ of lhe ioog presslence OF boriheas,erly Winds
Some cargoes have since reached Euslsnd, and The
knosn character Of The principal. as well as the of.
sets o'ihe house, are, se learn highly satisfactory
% th= temporary suHrrsrs.n
The Lootoa Gszs:,. Of Saturday contains an IN
Usually loog is; Of Bankruptcies. Including four
snnoc7-ec iroca The olce OF the Secretary Of Bank
'c9's :-ty sneGn' % ~ less than ss