New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1847-11-22


Your very obedient servant
Numerous Failures In Britain-Coate- a. Co
Gardner OF fInncbe-fer-union Bank Of
Calcutta--ali.bury Bank-shaitesbury aud
Hindon Bank-North and -oush Wales
Bank-RoyaI Bank, Lfverpool-Discrcdifs-
Bile Condition Of Certain Bankrupt Firms
-Remitfance- for Ohio Life Insurance and
Trust Co-Barclay, Brother a. Co-Alarm
among Note-holders and Deposifors In Ire
iand-specIe sent to Irish Banks-More M
tional Grants for Relief Of IreIand-Meet-
ing Of Parliament In November More Fall
urcs Looked For-Ninety-one Bankruptcies
In Gazetfe-Trade DulI-Cotfon De-
pressed-An Impro vement in Grain-Opera-
lives idea London Fog.
Forsign Correspondence Of The Tribune.
LONDON. Nov. 3 isf7.
regret that / am compelled 10 give another
chapter Of commercial disasters so soon. Withia
one short week the failures in the metropolis and
throughout the country have been numerous.
Among those which will cause the deepest sym.
patty is mentioned the highly esteemed American
house, Of MesMs. Coates g. Ca. Of Broad ct.
Cheapside Their stoppsge was announced yes
terday, and caused much surprise, for it was con-
sdersd safe and prudent house. This failure ls sttr
buted the nonrecep, Of remitances from the United
States The house had branches In Liverpool, Man
chester and New York. They purchased to large ex
tent In the manufacturing districts. and exported 10
America an immense quantity Of wooden and cotton
goods The manufacturers will therefore be the only
parties who will sustain injury BY this failure The LA
biltes of the are supposed to be about ESQ.,
0OO and the assets believed will finally yield 2Os 10
the pound As trade 10 America has been good there's
reason % suppose that there will not be large surplus
left Mr.. Coates was universally esteemed, and was
considered shrewd active, prudent merchant BE
was much respected by all Americans who visited Lon
don II is remarked in city circles that If such house
Ia compelled stop what establishment can be expect
ed TO 60 on.
serious failure took place a. Manchester on the 9Th
ult Mr. Robert Gardner, q merchant cotton. spinner
and manufacturer tie the proprietor OF several
large mills and employed several thousand operatives
HIS liabilities are not estimated above 100000 while
his assets are pu, down at fi000Oo; but large por.
ton of this amour, 10 locked up In India and China to
which country be- shipped immense quantity Of
goods Mr.. Gardner supposed to be the westhlest
manufacturer In lancashire, yet he found impossible
to oh tain money meet bis payments and was COM
PEELED TO suspend all his extensive operations.
The failure of Messrs Scott Bell 4 Co. East India
agents and general merchants of London not pub.
cly announced till the 18th ult although they stopped
on the 23d. The acceptances OF this house amount 10
On the same day IL stated that Messrs. Chdries
Sutherland & Co. produce brokers, had stopped they
wers however able to go on with their bu'ne" subse-
ouenty.
TIE drafts Of the Union Bank Of Calcutta were re-
fused acceptance on the same day by Messs. Glyn
Co This the largest of the India banks and 1t Is
said that its bills safe.
hlessrs jams p HOp1rd r Co. drug and colonial bro
ker OF London stopped ayment on the 9th uit |.
firm Of high character. Its liabilities are f75OOO and
the assets are 900.
A. LII. Wat Ind
merchant stopped payment His liabilities very
heavy but the amount IL not stated.
Yesterday the s,oppsge o Mr. s. S. Curtis, In the hide
trade announced.
The salisbrv Bank and the Shaftsbnry and Hfndon
Bank carried on by Messrs. Brodk have stopped pay
nlsn The deposors, II supposed, will be great sui
fcrers.
The Directors Of the North and South Wass Bank have
issued circular In which they state that the soppsge Of
this Bank caused solely by q most cruel and
groundess report which got into circulation and which
caused run upon the BANK
The affairs OF the ROYAL Bank OF liverpool not likely
20 turn out very fsyorsby. The liabilities Of this Bank
are nearly million sterling bat the whole assets are
nearly double that amount The Itmes says that diy
dend Of IN ths pound 10 cersin and II may possibly
reach l5s About half million Of the capital OF the Bank
was loaned 10 the irm OF Messrs. Bcyton Islam HSSiH
SON. OF Liverpool whose liabilities are 4eOO0OO and IL
not yet known how their affairs will turn out There
mas been gross Encouragement In the affairs OF the Roy
al Bank
Messrs Fry GriEths & Co. will not pay than "a
In the pound Their assets amount 10 only As25l while
their liabilities s9O.e79
The CREST house of Messrs Eranse EtpAees Co. 1T Is
now stated owe e450 s32 and their assets are only
El2s3l This concern has turned out Tar worse than
any out Of all the recent failures.
Mesns. Jones 4 Hiltom Morley will pay lOs-in the
pound.
The failure of the Salisbury Bank has caused much
distress among the deposor The business of the town
10 completely stopped. There 10 scarcely merchant
adesmsn farmer cottaser or retailer in Salisbury or
one who attends the market who had not notes or their
- ~ la QaAk "a M
40 disastrous fear vast number OF persons will
be ruined.
The following failures have recently taken place In
the manufacturing towns:
la Manchester. Messrs r. ~. FhrbridSt In Glasgo"
Messrs. Coran Smith Co. commission agents Messrs
H. Hoidnoorth & sen, machine makers and cotton spin
nors Messrs. husOr LetA. West India merchants
Messrs. Pearson, WisoH 8 Co. foreign merchants 10
Preston, Messrs. j. GiilOp, manufacturers 10 Black
burn Msssrs ROdJep Briefly spnners nessrs Swan
r BvohroOd spinners aud manufacturers hr. John
Barton In the sk trade Mr.. H. HartoTsh cloth agent
aud MIR. Insltsh msnufseturer
Ills announced that Messrs. Barnst, Hoare Co. OF
London have received remittances from the United
States on of the Ohio Lie Insurance and Trust
Co" of New.York for drafts drawn on Messrs Gopn &
Co.
Speaking of the Of several Of the houses
that have recently failed the Tim" says nothing more
dsgreeefu TO the nation and merchant princes a. they
are called appeared In the public journals OF Ing
land.
meeting OF the creditors of Messrs Barclay Broth.
total liabilities Of the f3ee O4 and the to-
tai assets f39549l. The liquidation will os very
favorable one ~ amount OF property 10 sunk In
the Msuritius. A dividend Of la on the pound IL
promised but nothing Ike that amount 10 expected TO
be realized BY the creditors The estate 10 be wound
up under inspection. .rI-" -
Ii is said that the continual failures In England and
more particularly the resent stoppsges Of several joint
stock bsnks have excited much alarm among the small
note holders and bank depostors In various districts In
Ireland and that some Of the banks there have expe
rieuced demand for gold. The wealth and resources
of the banks place them IN position 10 meet any de
msnd which can be- made upon ihem either BY note
holders dspositors Large sums 10 specie have been
sent over from the Bank OF Engsnd 10 tbs Irish banks
10 meet any sudden demand upon them. IL IL announced
that the Bank of Ireland has raised the rate Of discount
fram o. to per cent per annum uPou al Englsn ana
Irsh bills OF whstsver date. All the other rsh banks
must adopt the scale This step has been rem
dered necessary by the condition attached to the Gov
errmsnt measure of relief the public OF Ireland are
thus obliged TO pay per cent more than they would
have had TO psy had Government not nerfsred Money
however, Is now to be obtained. although at great
sacrifice.
Among the irst important, questions that viii occupy
the attention of Parliament will be bill Of indemnify
10 the Bank OF England and the Condition ireland
question II 10 believed that Ministers will call for more
fnonev for the Irish and will recommend the Govern