New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1847-12-27


and their .ixiy friepds-Leaf, Barnett a Co.,
BoydeIl n Roper Bankruptces on the Com
tinent-Giaseow Faiiures-Sargent, Gordon
& Co-Witterstein 81 Co. of Pru.sla-Bnniss
Hesumisg-Retail Trsde-Luxury and sPecu-
Iaiiou-- More Pnnics expected Mexican-tock.
Foreign Cores pondenoe Of Tue Tribune.
LoNDoS Dec. 3, 1871.
Having returned to the metropolis at a late hour
on Saturday night last from France with an iniia.
enza, and still suffering from exposure to bad wes
,her. have not been able to devote much time or
care to the preparation Of letters for the mail
steamer which will leave Liverpool tomorrow.
Tn. proceedings in Parliament, the state Of the
country. Of trade aud the markets the continued
failures. the movement Of the Bank Of Eneland
and the condition Of Ireland are the principal sub
iects which have attracted attention recently.
The reduction OF the minimum rate Of interest by
the Bank. from seven to six per cent, ann unced
yesterday afternoon, gave general satisfaction az
the moment. but o. reflection it was found that
many good houses would not be able to obtain The
discounts required at that rate Money is IN
doubtedly to be obtained on easier terms but tnere
$50 much distrust that only toe hrstolass houses
Obtain accommodation. What are termed second
and third class bills arc thrown aside riff discount
cd ST al the rates run much higher than the gene.
raj quotations Hence the announcements almost
daily of farther failures. Some large establish
1nsn,s have recently stopped payment, and it is
supposed that many more Will 60 Ia lew days.
The rurnors that have been m circulation for
eral DAYS respecting the embarrassing condition Of
one great house, have caused considerable alarm
The name OF this firm not published I'LL yester
day. although the house has been referred 20 for
~. r..t L. - Tx oil
Messrs. Fletcher. Alexander co. q London They ap-
Piled q the Bank Of England Tor an advance Of tSOOOO
offered ample securities II was confidently expected
thatassistance would be given by the Bank.
ave are very sorry 10 state" says the Morning Hddh
yesterday that the current report mat the firm Of
Mossrs Alexander Co. have not yet been successful IN
obtaining hs necessary guarantees 10 procure the ad they
require enable them to suraount their dficulnes II
Is all HANDS admitted that the accounts sho" yery
large surplus over all claims against them, but that cii
cues been nterpOsed by the Directors Of the Bank
81 England about taking securities on landed property &C.
The hope not yet abandoned that the matter will be
ranged but II Is stated that they have determined on not
going farther unless such al amount Is guaranteed rs
,1 remove all possible apprehension Of future difficulty"
To-day understood that the Bank vH render the re-
qaea assistance. No less tnsn sixty different fms, having
come f0rwofd and become parties 10 the guarantees tie
buness of this great establishment will therefore, 20 on
as usual but Is rot such exposition OF affairs Of this
house damaging 10 It's high credit Does not this case
SHOW plainly the reGicOnduon ef the commercial classes
II absurd talk OF money being plenty, trade improy
nr and prospects OF the country Frightening when
such great firm this Is PEELED TO beg for money
the and to bring forward sxty,yes, siry
substantial merchants 10 guarantee thar paper II more
than foy-nls crinaaIioT journalists 10 deceive the
by telling them day after day that money is easy at
or per that trade Is hourishtng aud the country
prospeug The very reports Of trade and Of the markets
published the columns Of every Journal give the lie To
uoh such statements believe that The Morning Herald
u tho only London paper that has uniformly published the
truth end forwarded the public.
Another extensive establishment has Just gone. Messfs
Leaf. Barnett 4 Co. Of wood's Cheap'ide Their annu
al sales amounted 10 several millions, but a. they did
profitable and prudent business their actual liabilities are
not much over 600. 1t Is remarked that the fall Of
houses Of bad symptom, and viii be attended
with nfne mischief. The Herald Gays that this failure
was caused By the inability OF retail customers 10 make
their usual payments and ana 1t may be taken IS the best
exponent thai has sci occurred OF tue pressure on the
home trade extended scale lhe morning PoSf re-
that the fall of houses Of this class bad symp
tom"
Another serious failure Is that Of Messrs B9ydell
Roper extensively engaged works and the Sheffield
trade Their estates moftgaged Tor s50000, and The
uncovered liabilities not therefore large. perhaps from
IS 10 saeO00. But they employed 800 workmen, who
will immediate discharged unless some arrangements
for the works 10 20 on Their Iron factories are
al the "Od Farm Works Birmingham. This disaster
has general feeling Of distFust and alarm IN that
town.
On the 9eth ut four failures ANNOUNCED. all con
nectec with the Stock Exchange Their names are MT
Henry wbilmore broker, Messrs. secreisn a Copper
brokers MI William EykyD, broker and Mr.. William
Abbott J0hber. The assets OF MI NhliHOIe VIII HOT
exceed 6s. I'D. ia the pound.
On the same day the failure OF Messrs Tanner q Ward
leather factors place. Their liabilities are from 5O 10
sso0OO Their assets will yield about los In the pound
The SUSPENSION Of Messrs A. & J. D0wnie OF GLASGOW
was announced the day. Their liabilities are
100000 and upward. and they will not pay more than
D. IN the pound.
MI Ashburner leather factor Of Liverpool, has also
stopped with liabilities amounting 10 h50OOO lie Will
pay about los. Ia the pound
AT Rotterdam, Messrs. Newit n SangeYeldt, ana
Messrs. Rouffaer & Sons, have stopped
The Temporarily suspension OF Messrs HeneRine
Brard Of Mons, Is announced by the AHtrdp JonHd q
Cogarcs also the old established Bank Of Gro'leSn OF
Brussels, and NJ. SisGrt, banker, OF Mons
On the 2h ult three failures were reported "a the Lon
don stock Exchange. Mr. Henry Turner, Mr.. j. ii.
Hawkings and Mr.. Charles Young.
At HUI, Messrs. fsrthng Son & Co have stopped, aud
viii not ray more than los. in the pound
At Glasgow, two other failures are mentioned Mr.
Andrew Rankin, In The West india trace, ana hr hoo-
ert Buchanan. general broker
Nessrs. Richter Co manufacturers at Prague, have
stopped payment. Their liabilities are estimated a.
500 900 forms They employed large number OF opera
tiyes and paid 1000 forms weekly IN wages
On the 2Ith ut IL announced that Aessrs sargent
Gordon Co had been compelled TO stop payment Ihey
are colonial and their Liabilities are iooOoO IN
circular Issued by the Arm II Is stated that me cause OF
their slare is sowing the continued pressure OF the
the tines and the failure OF so many OF our eonsuu
enss"
win liabilities amounting 10 10000; also, Messrs Wal
ker n CO. spinners, Of LEEDS.
Ills announced that MessIs. Browning, Miller Co.
East ludia nefcudhls atrseis ~ w. ~
sal,ers Of Liverpool. have stopped payment.
Letters received to-day announce the suspension OF Inc
great house OF wierseiD Co Of Prussia, wiihHaoites
amounting to 100000 francs.
The Royal Bank Of rpool resumed business on the
LIST last IL IS pected that the North aud South wales
Bank will be able 60 resume business shortly.
The Otsrer Of the 18th SAYS; 1--WE hear on All hansS
gEvous complaints OF the Of trade in the metropolis
not only In the wholesale bat likewise In the retail depart
mexts the activity expected as matter OF course IN
many branches month six weeks before CHRISTMAS Is
az present almost entirely wanting Similar language
used in the reports OF the present week.
The Tines has published long and Important article
upon the present and future stale Of affairs and atnougn
this ouTnai acknowledges that the panic is al an end
vet the danger the commercial vorc is not passed be-
cause the dagger have ceased 10 operate
These have been unb0unded speculation and luxurious
living The means Of the country have been exhausted
have been starved and ports diminished
Gold must therefore, be 81 equivalent for imports and
another momeataIy panic IS predicted have given me
snbstance Of this article in ano' her letter.
No news of Importance has reached the city to-day
Mexican stock is advancing. Il Is now quoted al Is
me stock market Is dull this afternoon.
Your very obecient servant T.
The Royai Speech-Our Correspondents Ell
forts TO send ihe speech exclusively oS the
.I..nal