New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1847-11-08
Commercial Fnilnre- in Great BritaIu.

LONDON Oct II, leiI.
October riU tell gloomy tale" This was the
language which l used in September. The &C
counts that will reach the United states by this
steamer will show tha, the tale is too gloomy. In
September. the Chancellor Of the Exchequer, ire
ply 10 a deputation that waited upon him to ask
him TO devise some means to relieve the pressure
upon the money market At that time. and thus re
lieve the mercantile classes. stated in effect, that
the worst was over and he could not render any
assistance. But Your correspondent before that
period even In August fore0ld. In plain language inst
the worst yet 20 come. 10 september the same
prediction repealed and again on tue nrst OF Octo-
1el. said IN September iuai the monetary panic, TOE
dun state OF trade ana failures viii not cess1 with sep
iemoer. but thst IN Oc05D they Will continue TO spread
a Yet DEEPER gloom throughout Europe and the United
states refer any reader 10 my letter, and then refer
him to the columns OF every Iourns % discover re
truth OF my statement 10 was not without deep regret
that made such statement and Il Ia With sOrr0w that
I and IL 90 fully confirmed. Willingly would ! have
been called ignorant aud without judgment prudence
and % the TACT had not been thus confirmed by
passing events swce ping and destructive u 10 trade
commerce. credit and character IA me trade between
England aud the ned states Is 80 important and the
rlercsuis transactions on 90 large scale, coz
,isred my duty 10 pon, out tho dangers and dli
fcuities which / discovered from my position mere
we're sure % involve merchants unless they were
iorevsrncd feel that they have only themselves
10 blame they read my letters and disregard them
The olio wing lot OF the principal failures will show
tbs extent OF the present criis
The bet failure Ia sno Preseut li't IS mat OF large
London house Tn. sl0ppsgeOi Messfs John Itohas son
d. sfe1rt took place on the 5th inst They have been
large exporters cotton twist 10 kussa The immediate
cause OF ihr soppsse tho non receipt Of emlitAnces
The house has however long been suspected aud u s
suuulsud toe srsets VIII not turn Out very large
~ IN. creditors The liabilities of the stat
"a 10 be- about malt million sterling It's acceplances
.oue amount g. kj5OOOO
On the same Jag he failure VI ne hsny esteemed
house uf Messrs R0i1ergsHf Br0fhsrs OF London vas
anuouu1 ed. They are exchange brokers, snd Will b.
abls 10 pay sNison shillngs 10 thepound but they
fused 10 sscrfce their property 10 sustain their credit
they held the sgrucies of several continental banks
The house Of Messrs. Tt0mas Hclry Murray OF L'y-
erpool suspended payment on ihe 9Th inst, Their
isbnite, are fl50OOo They wers Engaged In the East
and W. u india trade.
ON ths 9Th ths failure Of Messrs Van Zsiiar of Lon
don Sss announced They were engaged 10 ths Por-
nsues- trade Mr Van collar Is the Portuguese Consul
On tna same day ths large aud important house OF
Nessrs D. Jus.y s. CO Of Manchester stopped ayment
the liabilities of this arm sre upward " AiaooUO Il
was leading foreign sgeucy house 81 Manchester Tor
the purchase VI yarn ana manufactured gooas Tor me
Ruaslan ana Germsn markets. No establishment Ia
Manchester Of lbis class has been compelled to stop
payment tor nearly twenty nye years
The lest india house OF hessrs Brio, CorTe q O.
Of Manchester which was announced % have suspend
ed Is proceeding with its business usual suspen-
sion wss contemplated but pecuoisry assistance was
offered and accepted. which saved the concern
U
If the failure OF .lr William MaaVy OF Liverpool but
I he resumed payment on the on.
On the Ilth inst Mr. WILLIAM NASH wooden ware
bous.nan stopped payment with liabilities ranging from
20 10 100000 Mr. Nssh had IN bis possession large
amount In good ysper but he unable - obtain sny
/ discounts and was. consequently compelled 10 stop
Thirty years ago Mr. Nssn failed and Al that time he
compromised with his creditors oy paying lUs ia tne
Mound About years aerwsrd be invited all his old
creditors to dinner party aud then begged them 10 be
seated. as their dinner under esch plate The
creditors turned the plates, and - their great
/ asonishment found a sum Of money "hlehequa @Os
10 the pound Of their original claims on Hr Nash Much
sympsthy Is now felt for him.
ON the 2lth the suspension Of Messrs Wh1e s Co. OF
Waterford corn and timber merchants. was announced
Their liabilities are about $4,000. lis. however ex-
pectsd that this event only temporary one and mat
tne hrm will pay Ia full
Ire house of Messrs Richards Liuls Co Of London,
slso suspended payment. They were engaged Ia tho
East lodia trade About three yeart since, Mr.. Lue
was chosen Director OF the Bank Of England and 10
considered very remarkable fact that 90 many Bank
Directors found IN the list Of the recent failures
/ The liabilities OF the hrm are not stated
The old and highly respectable nrm OF Mesns james
/ s William M0yley wsrehousemen OF London, stopped
payment on the lth. This very serious disaster
Tor Manchester ths liabilities Of the hrm are supposed
b be from 10 100000. "a the partners have been
lsrsely engaged 10 share speculatohs large dividend
/ Tor the creditors Is not expected.
The Iircs announces the failure OF Messrs. Fster
Cornikrdue y CO. Wholesale tea dealers OF Liverpoe,
/ With liabilities ~ The amount VI IfOOOO also, me
failure Of three jobbers-Wo,herspoon, Steward and
/ Lsngion The former was worth tnree months ago
f-5OOO upon which he about retire These three
parties sre not connected 10 business.
Ga the l3ih Il announced that the large house OF
, Messrs. Barclay Brothers : Co mad suspended pay
ment with liabilities 10 the extent Of halt million
The cause Of this event Il attributed 10 large engage
ents In The Msurifils Involving constant absorption
of capital sud toe recent failures In England Of parties
% whom held accepences, coupled ~ith the existing
pressure IN the money market. The head ~ the house
Is one Of tre present members Tor Sunderland and the
partners are related dssrs Barclay the bankers and
! 10 the crest brewers
on the l4h the failure Of Mr. Coggsn house Ia the
I tobacco trade London, vss announced. MI Cios gen
wss formerly partner 10 the house OF Messrs War
wlch Cloggsii & co which became bankrupt In 1877.
Among ths other failures announced II the same
tine nay b. mentioned the following arms hessrs
VincegE Higgins f Sons, Of Liverpool and oid rsts0
H.bed houSs 10 the iron trade. liabilities 100000
Ridshash Worsted spinners, Of Halifax Mr.. T. NJ
Messrs Br0cdh1rsf merchant hessrs kdrdrf Poid
q Co Messrs WLs0n q Eb0r and Messrs GeiPir Hsb1
@. all Of Manchester Aes1s. Hooata q son "es
India house. of Liverpool Aessrs bhHe % corn 80
unnDer merchants OF Waterford Messls. Nal VI Bel
ia. Ga The 18Th ihs very old 1rm Of Msssrs LarTsac,
PtIlps & S0ls Esst India merchants stopped payment
This houss hss been established nearly eigciy years
its presen, hstiifies Dot over kl0OOO was cln
uecled with the American trade and t IL stated thst up
ward Of $4,000 due In balances 10 Newly ork
Large remiitanees we're expected from TIE Inne'
0y the ls5t steamer ssrs Phllps nei1 On ID
day u their suspension $4,000 10 good bills, bseked D.
dOcx and YET they could rot false ie~ th0ui
and pounds upon such securities I1ls SHOWS the s,st
o. tEa uiOuey make. 81 The present tine.
Msnctest.r psper says that statements have bee
crcuia.d OF lrs failure VI the oldham Banking COmp1
~ We assured however. that there nss been q
suspension u payment tut the shareholders have D.
ternin-d ~ind Up heir stsfs snd 10 dissolve Ii
company.
The Mrsehest0 Guardian sAys A corresponding, q
loo LiraP00l MrcTy announces he stOppsge Of Messr
PeHaiHsOR Ryar, but Ne glad ~ learn that ther
not tee slightest foundation for the the hrm b
, irg on VI uaigubted property aud credit
Ata meeting Of The creditors Of hessrs Soc<s Ia
Il stated inss the would Only Yield o. IN u
pound. and I. vas determined ~ lind up me coneer
1ldrr hsl Of bankruptcy.
Aessrs. SoEtiam, cotton syirners 81 Asnton' L-'
. ppec The dlTd-nf for creditors I'LL Dc small ons
Aessrs Ecnarf + Ra5at AHarer. calico printers
I Manchester. have stopped paymenL hessrs br0rn
Tsdd provision merchants, and Aessrs- " see = 70
soap manufacturers both Of Liverpool. have Supp
8 yayru.lt Their liabilities are co, stated
TO-DAY lis sunou1cei that Nesfrs. Frederct BdTes
c. stopped payment on saturday. hey nave been 81
snsye engaged h The sxp1itst o. Of suns swords 80
D roc l. ihe C0.onies Tie houss hss branches u B
nin.ham aad 5nrfied. The esuse Of tn allure les
4 the IOrrecriyg Of expected remlusncrs rom India AZ
: eI,s~hare The tstAires sEe from EoJOD b kltW
o A lsEse house IN Aincins Lane q reported 10 hs'