New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1847-10-04

4 IIsfrON tuNAff
-, -. I, ,-,.a ....... B0rtIar.--- l2JvJJ
-. = - .. Venice. --.- not stated
o. 'iiaf-' y - -
A Cover Nephew s Co---..----- 1911 , 49,"
Hariie Huichson. ---.-- i.ohooh o,o.o
Ooyle 4 GO...---.--.....---.-- , 'i''.---'- 80.
nstfhoN Perslim --...--.--.--ti '"'.p" 49, -,coo
Risd Irving g. Co.-----.---.i. LONG ~ 1900 1900
SANDER Weiherili & Co.. tockion--., ,oooo
sanderson A. Commonly" hdon- 80 -
Thounds Us5orn 8 London 800 49,,
X,st,ske & Co....--.-----s,lu ihsmp'1n No' stAl d
rts firm, ~ Thomas Usborn Co ard Thos Booker
* sons IN London. have been ".l snow" %, ~.
failure caused considerable alarm OK "neh 80.
NJ ID & A. Denny & Co. and 6rmmell bfo'Neis. VI
f;issyo,s were known % have suspended pas nenr
renea feeling Of approximation beyond toe INNS OF zoe
Corn trsds spread lar and vice e-. 81
There have been mauy more extensive it.lies, r''
,st commercial embarrassment was e.i al over ~
tge refer our rss5crs o the iist OF failures Nheh
rave occurred ia the Two weeks previous - t-' ~"
ni, I, will bee seen that lney are not contnfd eAiN
sgev 10 the Corn iIaie but ernoraee nam "AeA ~
nesrv century have ranked among To- hshes1 u 'n'
great com nercial community Of LuIop,
II IL thought this side. that tn losses OF M'ss'
Denny will % iei' severely "a "o" "''0""' '
Tss London discounthousss are grcsi sufferers.
TIA s,oppsge of MessTs. Gcmm~ii bfoihefs vas
sed bv he mon arrival Of the last China mall and !"
.a,ets have already widely extended as the conim'-
sinns of tho house weI5 considersoie VITA Ceh'ob'
Lima and Valparaiso. 49, I'll
-
h,,e1 IN Paris also connected with the Pschc uaae'
crested great sensation the Liabilities beng DeNc7n
. and EJOOOUU. - d.. .-...a
Tho General gloom Il may therefore, be readily imsg
med - st CONFIRMATION WAS created IN LONDON on tue
lI,h MI when II trsnsyred that Messrs A. Tower
NepheSs q Co Of Coiemsn-'t hAi siopp ~
the extensive banking and commercial relations 81 tnis
bousc with Italy spain. France. south America lnoli
os the United sisiss cannot fail 70 produce CORES
u0Jding misclevOus rtiut-
hal ...l cal A
the founder Died twenty years ago ~ an advanced asr
worth GiUOO0 Ills nrphe-s have since carried on sne
business SIR. Abel Lewis No~er tho present chei bHs
been director oil tia Bsnb Oi Lu3sni i"f many J"1Is
md has slso taken az sctye part IN the company OF
Royal Copper Mines but ns Connection with tnu iatler
body Il said 90 have lately &c t5ed IN" LAD h e" To-
ouse upon sccepssuces alone was said 10 ani aunt -
$500 600 Tn. other engage nts, W. should think
cannot tail 10 bring the total amount to nearly million
The house Of Alison. Cumberiidge Co. OF LoncOh
nd Valparaiso, of which firm one al the Tower ifiniy
4, = mariner was Immediately ccmp@iiet t. sop pay
mtrt 10 would be- improper al ins moment 70 -lhao
vert mon sny act Of The partner IN M'strs H,No
inn ? nch MA; GceelaTste ia ruin; TAT u u FAl.y
s,aed ih. losses on rel ssY shares have contributes 70
,his insolvency while the failure Oi Gufnne bfotnefs
ri Glasgow and the turn which puiiucA hna's hs'c
,skcn ia -psln with which country Messrs COVERS sie
soo,y .sopr.."i-ea h"Ve no doubt beon IL" imm@di-
pror, the na,ure Of The dealings OF the hrm with
snalp IL having ncen or insly spanish house mere
can be no doubt that the fleets all be iet there rs WEI
40 in Cuha large shipments OF sugar come ahhu'
ally into their hands. ,
Inc Iore of another Bank Director 60 recently alter
the atom OF Mr.. Rprnson has revived angry
,,.dvereious agznst tho estaoishmen 81 Tue banA
of England, Mr.. a l. G1rer. beng ~ present out 81
Office by rotation, change Of cicers vi" DO ieh'eIeu
necessary. -. -, .,..,h.
when il farther transpred that Messfs ssnder'oh
Co bul.brokers which hOuse stood second IN the me
,onols IN their branch of business had suspe nden p)
ment They were known to be heavy sufferers by lss
Ia Alexander & TO and Cover ftphc"s " -" Ai'
severe run havirg been made upon tnen Tor h,.oy ~
their depositors held NJ call. they were ce'hp'i,u ~
s,on II 1, gue impossible % estimate tho extent OF
,her sbil,es rs tho amount OF their endorsements on
/ p,uar In circulati must be enormous. 80,
The mischief aud interruptions t. discounts if.n VIZ
failure must extend 10 numerous classes 10 me M.'r"p
oils and 10 the mining end Manufacturing dsui'1s
while closing this fearful catalogue oi itlures tns ih
telisence reaches US that heid lfsns %" 81 ~,
ans of tho oldest houses Ia The West india ana iuti
,Ius trade beside hssng considerable business Win IN
Contnent and the United states, have been oomPce-
. Ia stop payment 49,, A. ID g., .,,-i,,
ybch haouer-d shout two years sgo he house iosi tn'
beneGi al his ssgacliy acd experience HIS pIopet9
ssserndad 10 his nephew partner IN the house ~ tn
firm beiue deprived of Mr. lrsings great capacity io
business hes not been sbe to con-hd o'''
sgheimng difficulties with which q has been oesel
SIR John jay Reid the present chief vas Governor @
tho B,pk az England w 1882 and su holds -esi N i
s,,.a,ion thus no las than rhr,s Bank Drfctcrs har
src,.,bes 70 ~ iinnes i-iflia hs lat Joar rttss
his ststed Ia the London EIolGHse thsi gentleman
connected With the firm of Prime. Ward y Co OF Ne"
Sork arrived by tha Csmers sod tnat he presence y
I a. ri,v had given confidence ami Satisfaction. III
IN. al hi. house upon Ogerent Gurncy Co whici
/ arrlv,d By the Csmbrs. have heen accepted ~ Gu
I conrse The amount however, was only sSOuO
Me.srs Covers faiisre S.li u Il feared fefouti
sass IN ,ueysd institution 10 tho OaIed sIAses "Aei
il IN The hsAt OF drawing on them.
Tbo Ohio l. Tie and ITusi Company. which has sioo
h;sh ana desar vedly IN public estimation beng on
,vho IN S37 hon0rably fulfilled al their engage
rnsnts il was anticipated would have large smoun
,h.r drafts Of Covers house re!urnt ~ me hoerti'
On, II has been arranged insi n. Onlo S'np.ey -
faccsp,d) will he taken up hy Nes'rs Barnett hoafe
! 60 The London bankers. The bills received BY IN
Cambria the Covers offered 10 acc ~ oli ms n,'ef
will proashy prefss returning themt . the aied sii-
4, Il ssd that the Ohin Lite and Trust Company WI
be creditors Of Mssss Covers, NePhcws & Co FOR %
less than .t5O,OOO
lin relation 10 the above last evening received Ia
following communcsiion.-Ed Trfb
The news received tins afternoon hy the hbetnia give
the nteiisenes Tsihe, prominently .. We i..9.e .
fsorn the failure Of Mesrs A Covers, Nephews Co
Lcndon deem . due 70 those interested y as i-
early opportunity OF saying that the dealings OF the Con
psnv with Messrs Covers have been exclusively iof IN
account and risk q another institution m ne West az
less from, the inability Of the party interested 81 whc
there IS DO Apprehension, wa. NJ nthaILt ~
Cashier Of the Ohio Life Trust Co \ 4
Ths rsiaxs,on OF the srnsen, measure Of the Bank
England in allowing loans bills and stock Al . p
! The l8n OF OcLooSl IoNcfti II -A'N
dared facilities IN quarters, has not A. We anne
| pstad Improved The postsn Of the Bank iiset
In the last tour weeks there has been decrease g
bullion TO the OF sl1ls5j In the last tire
{ weeks only The securities 1 e. The bills cfscounte'
have increased 10 the extent Of slts7O9. The %
lion has decreased s3i55i6 while the reserved iun-
which had decreased considerably has recovered itss
In the AIT week- Under these circuns,snces Win
smaller sm5uni 81 bullion than the Bank has ever hs
aimee the Bank Charter Act IL could have ben only
earnest desire reisve the commercial BODY wnish
sueea the bank directors 90 far n depart rom princp
"a ~ lend money per cent when ia scsuAl vsl1
~As higher in the market
T i~yit.b Die result has been decreased power to a
ala, With perhaps uifnstey the necessity for isrthe
stringent me Ssures ~ protect themselves
The Corn Market.
IT, Continued tsfa rcs la the Corn market o. -ient
for the farther cepresson In the prices OF srs
n,irs ne sr,t week Of TIE month. on the market d.
- ,he ,,A nil prices still continued 10 recede but 1
.rs the close Of the week both heat and oSr Ter
In active requistoa. This inprovem-ni Was i.rtne
m.ip,.psd on IN market day Of the l,h' when " ne'
sdv.ucea about s. per quarter on ne quotations o. 70
9TH .nd F.c mr. for which there sas an mm-nse ornsn
both in Loudou and Liverpool advanced - - 70 p
bbi. The top quotation for ne e~ikf oess''P'on'