The pilot and transcript. [volume] (Baltimore, Md.) 1840-1841, 1840-12-29

The LONDON TINES AND Nh. JAUDoN.-
It is most remarkable, that the London Times,
calling itself "the great leading Journal of Eu-
rope, should continue its implacable hostility
to American credit, and particularly to Mr..
Jaudon, the eminent and highly honorable a.
gent of vast amount OF American securities.
For three years past that Journal has not fail
ed in its efforts to blast the credit of our mer-
chants and State loans, whenever it has spoken
on the subject; and it appears to be fearful that
American loans paying five and six per cent,
will get a fvothold among the capitalists of En-
rope. On recent occasion, when the house
of Wright & Co. failed, the Times came out
with most disreputabIe article, insinuating, if
not charging Mr.. Jaudon to be the cause of
their failure. The charge turns out to be with
out the slightest foundation in truth. The
Bankers Circular, an authority that will not
be questioned on this side of the water, has ex-
posed the ialsehood in most prompt and salts
flying manner. We copy the following arti-
cles:
been so far imposed upon by erroneous infor- |
nation, as TO trace in yesterdays publication,
Mr.John WTight's defalcation and ruin in great |
measure to certain delusive representations |
made TO him by Mr.. Jaudon, and consequent |
dealings between them IN American stocks. /
There has not been single transaction in bust |
ness between these parties. And so far from |
any delusive representations having been made |
by the latter, Mr.. Jaudon, when Mr. Wright |
sought his advice, distinctly cautioned him |
against having any thing to do with certain |
American stocks, and the parties interested |
theTeupon made complaints at the United |
States Bank in Philadelphia, of their agent in |
England being depreciator of American cred |
IT. Mr.. Wright took slice of the Illinois loan |
from the Commissioners themselves, but the |
stock OF that State is amongst the most unex-
ceptionable of American securities: and he also /
had some dealings with some American rail-
way companies, but none through the medium
Of Mr.. Jaudon."
The following is Letter ofMr. Wright pub
iished in the Bankers Circular
"Sirs-We take the opportunity of seaAing
our this Supplement, TO give what information
we can respecting the failure Of Messrs. Wright
4 Co, well known as the principal Bankers
to the opulent Roman Catholics of the United |
Kingdom; and as the following accurately de-
scribes the feeling produced by this lamenta- |
BILE occurrence sin the city, we transcribe it
from the Times of this morning.
"The following circular has been address ed
TO the connections of the house:
"Itis with feelings of the deepest regret, that |
owing TO my inability and longer to support |
some large mercantile undertakings, in which |
l had most incautiously and improperly en-
gagged, have unfortunately so Compromised
the credit of our banking house, as to compel
it to suspend its payments.
i still hope these will, if not hastily hurried |
TO close, indemnify our creditors against ul- |
innate loss; but should the result prove other
wise, must, in justice to my partners, acquit |
them of all blame, and impute solely to myself |
the lamentable consequences which have now
ensued, both in their regard and in that of those
esteemed friends who have reposed such un-
bounded confidence in our establishment.
i must further add, that nay partners have
constantly demonstrated and expostulated a.
gainst irregularity and departure from the Iegi-
innate business of the house; end for these rea-
sons l prefer making this announcement in
my own name, however painful and humiiat-
ing 1t is TO me do so.
JOHN WRIGHT.
Henrietta ST, Covent-garden, London Nov.23."
Mr.. Wright, it appears, was large specula-
tor in various Companies in London,-that of
. White LeadIconcern. in Slate Mining, Steam
Companies, &c. &c. He was also engaged in
the New Zealand and Australian emigrating
enterprises, and in the Provincial Bank OF
Ireland, and Provincial Bank of Australasia,
the two, last profitable, however.-N. York Er-
press.