Morning herald. [volume] (New York [N.Y.]) 1837-1840, 1837-07-24
MORNING herald.
MONDAY, JULY "a, 1897.
Ten Days Later from EurOPe-Hishiy INA
porta nj Intelligence.

ter from London the l4th, and the Virginia IRON,
Liverpool the Slh June, bringing us copous mes u
French and English papers.
We refer readers to the first page LOT hsh'y
important debate, on American and Eng'sh coh''hei-
caI affairs in the House Of Commons.
The Europe arrived at Liverpool on the ioth oiJune
carving out the news of the suspension OF specepay
ments An express was Immediately posted of for
London. The news created great excitement and
alarm on Change and in the money circles.
The Times of The l2th Of Jun: contains the whole
account of our suspensions and the movements of Mr.
Swartmout In our next edition we shall eRdeavor
10 give clear and succnct statement OF English opin-
ions in relation 10 this country.
The Europe is said TO have carried cut but $50 900
in specie.
The Times has the call of Congress by the Presi-
dent.
Information had gone out by the Europe, in private
letters that money would be plenty here at per cent
IN consequence of the suspension. Who were the
fnanciers that made such prophecy?
In the Times OF the 18th, find it stated that ru-
NOR was abroad TO this effect. The house of Browne
Brothers & Co. had applied to the Bank of England
for assistance and that it determined give it,
Wells & Co, ofPars, had applied to the Bank of
France for four millions of francs and received the
req. ste ait
In Manchester, the firm of Ramsbottsm & Co. had
zone b, the board for immense amount. This
looks ON, nous for the manufact turing district
Teeqrap, nc dispatches at Paris on the 18th, an
.nounced tha the evening Of the 9th of June the
,roons Of Oraa in possession Of Tamarte and its
envrons The artists were between Benevawe and
Aoer Cabrera had not passed the Ebro at Caspe.
On the lOth Expat ero had arrived at Lerin, which
he found deserted
On the l4th of June Don Carlos was at Alas The
defeat of Osoro had thrown open the access Of the
mountains 10 the rebels.
The Stock Exchange at Paris was closed on the
l4th of June.
Two o'clock the 18th, Five per cents were lOSfr.
SOC.
The Journal des Dcbats il decidedly Of opinion that
the course of Jackson against the currency, and the
tept TO substitute gold and silver for credit ruined
our country II approves of the suspension Of specie
pavmen,s as a measure by which we can pay our Eu-
ropean debts.
Did we not prophecy that this would be conse-
suence OF the schemel
Meuneir is going TO embark for New Orleans in the
La Peyrouse from some part Of Brittany.
On the 9Th, His Majesty of England passed good
night. The 18th, his disease took an unfavorable
turn. His life is insured for fS0,O0o The Times Of
the 18th says that he was better
Money was easy.
Cation had gone down, and was almost drug.
United States post notes, on the 18th, were 93i 10
g4t on Change in London.
A new ministry has been formed in Lisbon. Oil
veira is President of the Council.
Twenty five millions of francs were appropriated to
aF fha IN, III
sion of the l4th Of June.
The Liverpool Mail of the 9Th says:
The greatest anxiety has existed in Liverpool, dur
ing the week, for the arrival Of the Europe, New
York packet of the 10th May which is expected TO
bring furthar mpor ant intelligence as TO the state oil
insolvency in America. The wind has been pretty
favourable and the vessel (Which has made several
very quick passagcs) would be twenty-five days at
sea if she sailed her usual day. The very shortest
voyages from New York to Liverpool, however, are
not made at this season. Gloomy apprehensons
exist here as to the state Of political affairs in New
York.
In relation to the failures OF Bell e. Grant, and
Gowsn Il Marx, the London Morning Post says, an
der the money market head
Saturday was another trying and ANXIOUS day in
the city, and although there was VIGOROUSLY much
exaggeration To the extent OF failure of which has
been productive there appears 10 be no room 10 doubt
that several houses might with safety be added TO
N.
fet ourselves called npon IL notice under embar-
rassment The suspension Of payment of the old and
highly respectable firm of Bell * Grant and Of that of
Gowan Il Marx announced at an early period
OF the day. An effort was made by Messrs Gowan
* Co.. 10 overcome their difficulties through the in
tervcnon If friends but we sorry say II did not
succeed Both these EN- nen firms extensively
engaged in the American trade, the latter principally
as importers of tobacco, the former as commi ssion
agents-havng branches long established at Leg
horn Genoa, and other places IN the Mediterranean.
The OF the liabilities Of these two houses has
no: been mentioned TO us but they must nccessa.
rily be large. Mcssrs Gowan K Marx if we recol-
lect rightly were charged short time since with the
negotiation of one OF the minor loans for South Ame-
rica and their failure as far we are capable Of
Judging, would appear to be attributable entirely to
the depressed state Of the produce market and the
temporary difficulty which exists Of obtaining the
usual accommodation. Two other considerable firms
have been currently spoken of being involved in
difficulties; but we learn this evening that one OF them
is still gong on, and so many contradictory State
ments have been hazarded with respect to the other,
that we refrain from giving the Of the party.
A fifth and sixth house were talked Of with almost
equal confidence. Ose Of them, however, 10 cen
Germ of limited business, so that it's failure il such
misfortune has bcfallen it, which we believe TO have
been the case cannot have any material influence on
the state of commercial credit and with regard to
the other party, who are indigo brokers' we ale ena-
bIed to say that the reports which have prevailed to
their prejudice, have been entirely without founda-
L. "