The daily union. [volume] (Washington [D.C.]) 1845-1857, 1847-11-08

observed generally on the nth
The Austrans gave up Ferrara the Sd inst to the
Pontcal troops His holiness threatened them with ex
communication.
The account of the Bank of England for the week
ending October 9th, compared with the previous week.
exhibited
A decrease of circulation of E73,9O6
An increase OF public depOsltes OF S5,656
decrease OF other depostes of 247,s7l
decrease of securities of 57,4S6
A decrease OF bullion of 156,557
An increase of rest of 22,07S
decrease OF reserve OF S4,OH
Commercial Panic.
From the European Times
If in last number by the steamship Cambria had
TO record melancholy list of failures we have
on the present occasion to fearful augmentation
of mercantile distress Confidence in every branch of
in da 90 to ne
mercantile world, and the shutting off all relief has
depreciation Of stock is the moment are writing.
less than five per cent under the lowest prices quoted u
and breadstu the decline has been equally ruinous and
the alarm which such state of things naturally engenders
ue rational proposition having yet been suggested
the removal of the distress which prevails
pean Times Of the 5th inst that we announced in second
edition. the failure OF Messrs John Thomas Son. Lefevre
tmated at about s45oooo The firm was Originally
established by Mr. John Thomas gentleman greatly
partnership his son and Mr. Henry Eee Of the
Speaker Of the House of Commons and secretary of
the Board OF Trade The house made advances xen
sive shipments OF yarn to Russia, and also sugar from
Cuba and the result was that the house De Jersey Co.,
of Manchester, who made these shipments Of warn,
Russian account failed on the following day, with liabil
o % The hoas oi go Sn oas G for &
of the elder Thomas and Mr. William Maingy, having
failures The London house as bankers for a numer
Gus cheney in the Channel islands and their credits
largely circulated in Cuba, the United States, and New
We refer the list in another column upwards of forty
mercantile failures since the 9Th 1t will only be necessary
here to alude to the considerable The fashionable
warehousemen, Howell James, of Regent street. have
Of about fl20000, whilst their EI36
The estate is 70 be would up under inspectors The firm
which only about f45OOO but because Mr.. W Little
having been elected in 49, although at present oat 81
oss BY oon Mr. wan.s ,, e. ar the
those Of Mr. M J. Soares and Mr. E. Bemoui are very
On the 18Th the house of Barclay, Brothers. q Co.. in the
MsnI a suspended with h, liabilities to the
Ike s ss
The head q the firm David saPrcsy NJ ne for san
derland who formerly chief the agency the Mex
tracted. The day disclosed the fact that
tine s Of miners in Engsnd
600 from the Bank of England upon security of their
works Gym Avon and with this aid the directors feel
great The sopPage Of the works ots company
Within these two days, Messrs Phillips Il Sons, East
ansa 70 nays h,. Their Liabilities
computed sl25,OOO. A judcIousy written circular an
%ndna e OF e aa ves of a.
Knapp& Co., failed also for about 10000. Perhaps we
may take this opportunity of stating that the Oldham Bank
bank holding of De Jersey & Co.'S aoceptances has
determined 70 wind up the The failure Of Messrs
Mr. VIM % he Macy aad
respeeed his liabilities are estimated tu s6ooo Yese
day, Frederick Barnes Co, wholesale hardware men,
haU hnn c,at,
and Sheffield. The extent of their liabilities is however
ures have occurred which, from the Character and stand
ing Of the parties were wholly unsntcipated. The house
OF W. Pearce Co., the agents of Barclay, Brothers, Co.
followed the fate of the London firm Mocatta Sons,
hae sS
names VIII be found in our list whose suspension calls for
patty Thus far the failures our town. however severe
were OF private character and the past week ended
goomiy But public notice from the directors Of the Roy
al Bank of Liverpool the effect shat owing the extra
ordinary of the times, they
interest Of all concerned to suspend the operations
bark until the result of the proceedings deputaon
now in London could be ascertained." The above
posted on the bank, the doors of which closed
This bank which was established in 1887, has
rons and opuen Joint stock proprietary Of about two hun
which t5oo paid up, amounting to about E646,OOO. AT
The last annual meeting the concern had fund OF
fl0O,UO, and contingent fund of $780, 900. This stop
page has thrown the whole business of the into
e%sn s sad s M r. Snd os.
the government to interfere for the relief of the entire
camille ana banking community throughout which the dis
tress has now eanully extended. We conceal
our fears that this last failure will have serious results
happening at moment when many parties seek
ing assistance from the bank and when clients
mad coected funds in the hands of the bank OBJ
hgatons falling due yesterday As might be anticipated
heavy run was made upon of The banks here, but
tney nave hitherto stood firm. 1t is stated that three
houses whose names have been freely mentioned hav
ing had considerable assistance the Royal Bank
debtors to the institution to the of whole paid
up capital.
The affairs of Messrs. Sanderson & Co. are winding mn
safsacorilyony Els 900 of bad bills having appeared as
yet amongst the assets E725000 of bills have run off al
ready, out OF El725,0O0 The of Messr Reid rv-
ing CO. is to be wound under the inspection of Mr.
Barring, Mr. Blythe and Mr. MChleery and hope held
out that dividend OF five shngs in the pound will shortly
be declared. 'A'
meeting OF the creditors of Lyall Brothers, IL Co. has
been held and, taking into view all the probabilities
e mouse IN india meeting their payments it is expec
at e London firm will pay about los. in the pound The
IN the pound, in periodical instalments.
In the aooVe article have confined
mere RECORD ol uese disastrous failures
Our readers az distance will be able form therefom
some conception Oh the social misery which such
ruin has entaed upon hundreds of resnectahla f,Iis
is even yet over.
Money Market.
The state OF our money and stock markets since tho 5,t
instant has been altogether unexamped The denrecia
lion of property especially Of that of nvcstmenA
which mainly depends upon public and private credit il
aarminqlv ruinous. When that the f, in bs
three per cent consos was during the last weeks ac
count beginning in September and ending the 14th
instant no less than between and per cent-n fact