New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1847-08-30

the dav that effort would be made 70 make an ar
for time 10 enable them 10 business
Whether sueh an effort will be successful In the present
s,s,e al Tho money market - tUSever. cOnsidered
doub,ful We understand that thls house dispatched
an agent the United States to make direct purchases
.ome tire shout the beginning Of May and that the
diaerspcss on these purchases At the present market
rs,es are alone upward OF 4iO0OOOr
Mes.rs Lesley. Alexander Co deny that their LA
btes exceed half million and state they never sen,
an agent 10 America to purchase corn. They scknow.
ledge however that they forwarded orders for other
parties and accepted their bills against shipments The
present state Of the corn market will not them
against great losses
The TINES Of yesterday announces farther large fail
ures on the Corn Exchange the parties being Messrs
Coventry Sheppard, and Messrs King Melv Co
The liabilities are no, stated hut supposed 10 each
case 10 reach 10 about 1900 go Great efforts had
been made TO sustain both houses through the credit Of
their connexions and the fact Of these efforts having
failed augurs may be feared hat unfsvorsble
for the final result" The Tine says that the total
amount Of the liabilities Of the various firms whose fail
have been reported the Corn Exchange during
the present pressure 10 estimated at the
nous amount Of g 100000 The Morning Post Of
yesterday. referring to these failures says TIE con-
sequences OF such repeated stOppages cannot but be
severely felt IN many quarters lodeed the coUfusion
just now prevsilDgn the Corn trade 10 unprecedented
Zone large house has been uuvarrsntsbly talked Of
while II mas had cash is bankers 10 satisfy every
liability" The Morning Head remarks 70 what
farther extent defscstiOns msy tits impossible even
b form conjecture for 10 the present state OF the mar
ket sales cannot be forced any terms 10 meet bills
arriving at maturity putting altogether aside the epor
nous depreciation 10 the price OF Grain Of ali descnp
tons compared with the rates which II was purchased
The b0rntR9 Herald Of today, says: " The failures
which have already taken place have naturally crested
great osrust and rendered great msss OF minor paper
understandable any terms 10 the regular market such
parties dependent II must therefore, either ne
brought at dead lock or fall into the hands Of
low description Of usurers" Many vessels osded with
Corn which arrived ia the river yesterday and odsy
have anchored there. the captains refusing to enter m
the e9hs are paid This fact shows whs, desperate
condition the Corn merchants are 10.
The Dublin correspondent Of the Daily Ners says
The failure If Messrs Douglas g. Co 10 reported TO
have seriously touched some of our Corn merchants
There were few enterprising spectators IN the
food markets than the Sligo merchants. Some have
made considerable fortunes by their iudicous activity
while the unexpected sl In Corn has come home 10 the
" bust of others" The sligo Champion mentions a
very extensive failure In that town. 10 the amount oil
100000 The name 10 not given.
The directors of the Bank OF England held their usual
weekly meeting yesterday and II was generally supposed
that they would raise the minimum rate Of interest and os
count There however, alteration made The re A.
assigned is that the American sdvices by the steamer
from Boston had not TO hand The Morning Post o.
to-day says 10 feared that the revelations OF tomor
row will be by such as can be considered con
ducye 10 the maintenance OF private credit and charsc
ter but on the contrary Of sinister import and there
be doubt that there much 10 suspense to excite
apprehension IL
The commercial and o,her public rooms In the city
are filed with reports Of farther large failures 70 day
My next letter will give you alarming news
Your very obedient servant,