The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1847-08-30


S S!fi. ec ssssi bullion 8
Silver bullion. lo7las
sasss.s s2s.ssasas
BANKING DEPARTMENT
RR s.s e.p 1 Sss oSy aeua.s :eaI ds:;
Public deposits Gin weight annuity 81 SSs 2se
Guiding Excheqqer, Other securities lsso oS J2
com%is.ioaers Of Gold and silver coin siS'I75
National Debt, and
. DividndAecounts) 5,5aoSos
Seven day and other ''''''''
bulls. Sl6HI
fs2,s2s s1s fsa5ss1s
Dated the 18th day of August, ls7.
. PARIS BouRsE, "WEDNESDAY, August llth.-The mar
ket at the opening evnced nearly much heavness s
yesterday, but as the day advanced report became
prevalent that accounts had been received Of an i'm
provement In the English market, which caused cor
responding effect here and prices kept steadily advaB-
sna at s a market osa as
Three per for cash. 76f 60c for account 6 75c
Five per cents for cash. lsf 5o for account is aoc
Spanish not quoted The Railway share market has
also become much rmer and at the close the quotations
Rouen left of at 927f Soc; Rouen and Havre 5s5f
Avignon 6sof vierzon, SAT- soc Dieppe, soof Nan
4s9 Soc Paris and strasbourg SCOT Paris and Lyons
1887 7oc.; Lyons and Avignon, 446f
The Commercial Failures In England.
From the London Mercury, Aug IA
The bank directors held their weekly meeting on
Thursday but made alteration In their rates Of dis
count The demand for money out of doors continues
inclination to take bills however good the security
under terms fully equivalent to six and six aDda quarter
ID less excessive but nevertheless at the same
time, fve-and half and six per cent Is readily OBJ
tanabe for loans at short periods Considerable ad-
made during the last few days by the
Bank Of England stock for tho convenience OF lead
ing capitalists
The restrictive policy pursued by the bank directors
has accelerated several mercantile disasters the prnc
pal of which have occurred In the corn trade Omittng
mention Of several smaller suspensions, 1t becomes inn
peratively necessary to parcularize the four following
firms as their transactions have lately influenced large
ly this branch of business.
The first is that of Messrs Lesley Alexander & Co.,
whose debts and liabilities amount to between 100000
and f300 600 The assets It is understood will weld
respectable dividend Indeed, such favorable opinion
originally entertained OF the prospects of the cred
that hope held out Of the house resuming bu
sinsss. The meeting Of Wednesday are, however,
informed deAnitively settled that point The grand
the private estates of the senior part
ner Mr. Alexander who holds extensive unencumbered
poss' ssions in Ireland.
On the subject of their suspension the firm have pub
lished the annexed letter.
sold BROAD STREET, Aug. IL.
"siR-In reference to the failure of houses of
your contemporaries has INDUCED In statements which
wide of the truth that feel obliged for permits
sion correct them through your columns Our liabil
tiles do not amount to considerably more than half
million sterling nor anything like it, neither will large
proportion of them fall upon American houses. We
despatched agent to the United States to make
direct purchases, either In May or any other month";
and have no differences to the amount Of 100000,
nor to any other amount, never bought single
cargo In America for ourselves. Our sole business, at
consisted
ing the orders and accepting for the purchases of Others
and from the promotion Of this legitimate business
owing the failure Of Others to perform their engage
ments, nearly all our difficulties have arisen. The fall
in the value Of food has brought down number Of
merchants both in this country and also in Ireland and
to this and not to any speculation of own that
our present position Is to be attributed
"We are, sir, your obedient servants,
LESLIE, ALEXANDER x Co."
Messrs Douglas Co. It is estimated have suspended
for at least f2OO,OOO or this there to be no
doubt The only question Is whether it may not turn
that their engagements extend much greater
amount This house it is alleged has been brought to
ground by the failure Of Messrs Sampson Langdale
Co ofstockton- Tees also extensively concerned
! in Mark Lane business.
The stoppsges of Messrs King & Melville and Messrs
Coventry Sheppard are in each case supposed to In
vove liabilities to the extent Of nearly f200o0O The
partners in both these fatally experienced the
effect Of the panic In the corn trade Of and then
underwent ths process Of liquidation An attempt, II
the credit these houses but witho avail
1t is generally anticipated that affairs will not be found
promising those Interested In the result OF the present
defacation.
IL is satisfactory be able to state that in
stance it reasonably be said that these several
have brought upon themselves by imprudent and reck
less speculation the fate that has beallen them On
the contrary most people believe implicitly that tt Is
toward position of affairs has been SOLE produced by
the reaction in the value of breadstus &c
preventing their connexions from fulfilling the transac
tons which thew had concluded through these esta b.
shments and for which the partners became RESPONSE
BILE their legitimate characters of factors
One two millers reported to be in a position
state of their accounts before their friends In each In
Is said that arrangements of nature agreeable
to all parties have been concluded ana That they WILL as
hitherto proceed with their business. At time like
the present. when matters in general wear such gloomy
appearance various rumors get into circulation respect
ing the sovency of commercial houses Yesterday late
in the day the Ct three establishments were
privately mooted being unable to sustain themselves
but It would be unwise enter into details till the pro-
0ress business the Corn Exchange to-day shall have
thrown some light upon the subject.
Besides disasters to which have directed atten
atoa e. N tv hal I,Iio
trade, and Robinson Co.. in the Maurtus trade, have
been publicly notified incompetent to meet their
sagements Messrs Fraser Nelson 10 IL Is mention
and may therefore be properly as worn cut by
age and diminished resources The concerns OF Msssrs
Robinson & Co. have for SEINE short time past been
wholly the disposal Of the executors OF the senior part
ner who having thoroughly investigated the position
the estate, felt themselves called upon to pursue th
with the view Of speedily winding up outstand
ing demands.
The Latest Commercial Review.
From winners Liverpool Times, Aug l4l
The alarm Of monetary crisis immediately succeed
affairs have not improved since our publication OF the
Ith instant The pressure for money has increased
sideraby and general distrust continues to prevail not
whstandng declining prices OF grain and the certainty
of u harvest Of more than average abundance. The
produce markets, however, have exhibited consider
able share Of actvty and the main articles OF genera
consumption readily find buyers
The steamship Britannia, Captain Harrison, Will
dates from Boston of the ISL arrived here last night
delivered at the commencement Of business Thu
morning, and up to eleven o'clock neither the corn MOI
cotton kets had experienced change in prices
The former will however doubt experience furthe
declines but the latter 1t Is expected, will slightly i'm
prove 10 prices. The London papers OF this morning
published her through private express, which
| went away after the steamers arrival
The failures in the markets Of London Liverpool
and Sligo together with very large arrivals Of oreg
grain have produced sompl tie paralysis Of busncssa
the dealers only supply themselves for their immediate
wants. It almost tends to msead readers at dis
to quote actual prices since each successive mar
kt day exhibits the unsteadness of the trade The
Their reduction in prices recorded in last number
baat lnnliu nho..