The daily union. [volume] (Washington [D.C.]) 1845-1857, 1847-10-05
FOREIGN.
From the New York Evening Post oetopei d
ARRIVAL OF THE HIBEKNIA
ZEN DAYS LATER FROM EUROPE

ARRIVAL OF THE HiBEftNA
FIFTEEN DAYS LATER FROM EuhofE'
The mail steamer Hiberna reached Boston on sunday,
at 40 minutes past O'Clock, M having iei'
the 18th ult. 80, . a.
The naws of the greatest importance relates to the
numerous and extensive failures, and the general com
mercal embarrassment throughout Europe
Breadstus have advanced little, and cotton has some
what declined =, ly
nostion since the sailing OF the Britannia ON the 4th UT
During the week ending Sept II, was most dicu,'
matter effect sales and yesterday prices were nominal
or nearly So The sales for the fortnight ending sept -
were only 32 900 bales, of which exporters took o,l2o
American 500 MaRnham, 1870 Surat, and 3s Pernam.
The exen of SPECTATORS operations during the same
ner;od Is 40 American and $50 Surat The stock in this
por is about 900 bales against 100000 at the same
period last year The stock of American is estimated
al 332 OoO being decrease OF $4,000 bales.
On the 18th inst wheat advanced about i've shillngs
per quarter on the quotations of the 9th ns and -four
for which there ss an immense demand both in London
and Liverpool, 10anced 3s. to As per barrel Inc TOP
quotation for the best description OF wheat Is CPS per
quarter whilst in Liverpool the best western canal hour
which the LIST instant was quoted at POS ana barely
fetched that price, now sells at from 2os to JOS per par
rel Indian corn also has been more in demand, and
higher rates have been paid for IT. and the corn market al
this moment appears firm.
London papers of the 18th ut state that the Marquis
OF Normandy called on M Guizot on Thursday, and OIL
would not permit foreign Intervention IN Italy Austria
on the other hand it said announced her intention
of interfering in every in Italy in which national
guard should be established.
We learn from Paris letter. that the French steamer
Philadelphia did leave Cherbourg on the 9th ult., in
consequence of damage sustained on her hoemward
trip.
The suspension of Messrs Grinnell & Brothers was
caused by the non-arrival OF the China mail
The failure of osborne s. Co, and of Booker & Sons
caused much alarm, for they had been well known.
The failure of A. RouX, Paris, also connected with
the Pacific trade created great sensation the liabilities
being between two and three hundred thousand pounds
The failures in Venice in Genoa and in Paris increased
general gloom 1t may, therefore, be readily I'M
agned what CONSERVATION created IN London on the
18th ult when it transpired that Messrs. A. A. Cover
Nephews g. Co, of Coleman street, had stopped pay
ment The extensive banking and commercial relations
of this house with Italy, Spain, France South America
India, and the United States, cannot fail to produce
responding mischievous results.
The house has been established nearly century, and
the founder died twenty years ago, at advanced age
worth f100O00 His nephews have since carried on the
business The liabilities OF the house, upon acceptances
alone were said to to E600,000. The other
gagemens, should think, cannot fail to bring the to-
tai amount to nearly million and a half.
The house OF Alison Cumberledge, Co, of London
and Valparaiso, of which firm of the Cover family
is partner Immediately compelled to stop payment
From the nature of the dealings of the irmwth Spain
ii having been originally Spanish house. there can be
no doubt that the effects will be felt there well in
Cuba, where large shipments OF come annually in
The public had scarcely recovered from the shocks
when il further ranspred that Messrs. Sanderson Co.
bill brokers, which house stood second in the metropolis
in their branch of business had suspended payment
They known to be heavy sufferers by Leslie, Alex
ander, Co, and Cover Nephews & Co., and severe
having been made upon them for money OF their de-
positors held at CALL they were compelled to stop 1t is
quite impossible TO estimate the extent of their liabilities
the amount OF their endorsements on paper IN clrcu
latiOn must be enormous.
Closing this fearful catalogue Of failures, the ntei-
gence reaches that Reid, Irving CO., OF London
one of the Oldest houses in the West India and Maurus
trade besides having considerable business with the
continent and the United States have been compelled TO
Sir John Ray Reid, present chief, governor of the
Bank of England in 1899, and still holds seat in the
direction. Thus less than three bank directors have
succumbed 10 the times within the last four weeks.
The London Exchange states that gentleman connect
ed with the firm of Prime, Ward, Co, OF New York.
arrived by the Cambria and mat ms presence IN the city
had given confidence and satisfaction The bills of this
house upon Overend Quincy, Co., which arrived by the
Cambria, have been accepted in due The amount
however, only two thousand pounds.
Mcssrs Covers failure will, il is feared, seriously af
feet moneyed institution in the United States, which in
The Ohio Lie and Trust Company, which has stood
high and deservedy in public estimation, being
of those who in 1887 honoraby fulfilled all their engage
ments it was anticipated would have large amount of
their drafts on Covers house returned by the Hbenia
but it has been arranged that the Ohio company's bills
Co, the London bankers The bills received by the
Cambria the Covers offered to accept, but the holders
will probably prefer returning them to the United States
II said that the Ohio Life and Trust Company will be
creditors of Messrs Covers Nephews Co. for less
than fifty thousand pounds
The relaxation of the stringent measures of the Bank
of England in allowing loans bills and stock at per
cent till the 18th of October has not improved the po-
sition of the bank itself.
In the last four weeks there has been decrease of bull
lion the amount of G37l S65. In the last three weeks,
only, the securities the bills dscounted-have in
creased to the extent OF El ,GS7,039
Estimated liabilities
Alison, Cumbcredge, q Co, London and Val
paraso stated
Booker, Thomas Sons ~ Co., corn factors in
London 100000
I3urnei * Co., coal agents in London stated.
Custo, A. " A., Genoa, general merchants GS0,000
DenMson 81 Co, Limerick stated.
Denny, ID. ~ A., Glasgow, corn and provision
merchants 100000
Eude Bourdel, of HonGeur banker 100000
Excels ~ Co, Venice, corn merchants not stated.
Grinnel, Brothers, East Inda merchants, Glas-
gov E2oO 900
Cover, A. A., Nephews ~ CO., general
chants 100000
HASTE @ Hutchinson corn factors in Mark lane 100000
Ocze IL Co, of Venice, steam-ml proprietors 10000
Perston, Matthew, Glasgow, general merchant 5000
Reid, Irving " Co. ,500,0DD
Roux A. OF Paris, Valparaiso, and Lima 100000
Sanders, Wethere, ~ Co., of Stockton-on- Tees 10000
Sanderson II Co., bl-brokers, London 100000
osborne, Thomas n Co.. corn factors, in London 100000
Westake ~ Co, the largest corn-house in South
ampton not stated
Considerable purchases have been made in the mar.
ke Tor Belgium and Holland, in consequence of the dis
eased appearance OF the potato crop those countries
and these purchases have tended to strengthen the
market