New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1854-10-30
THE RECENT COMMERCIAL FAILURES.

THE RECENT COMMERCIAL FAILURES.
The recent commercial failures at Liverpool con-
tinued to occupy attention. the more so that they have
lad disastrous effects in ireland see succeeding par
egrapb). Conflicting statements were current with
respect the probable result. Our Liverpool cores
pondeni is enabled to state-and doubtless sehaby-
that trust eeed is being prepared and ia DOW nearly
completed in the affairs Of Mr.. Edward Oliver, and
will likely enable all debts to be paid in full with
large surplus remaining for Mr.. Oliver. Mr.. james
McHeDry's affairs are to some extent involved Wl'o
Mr. divers but good result is antici pa'ed-'puch
!. Ter than the public were led to believe by The
LeaSJA Time:.
The following appears in The Times of l7sh with
reference to its remarks OF the l4sh inst.
"On Saiuro ay a notice posted on the Liverpool
Exchange by the trustees OF the estate OF Mr.. I'd
ward Oliver, to the effect that the statements lately
Inserted in The Times regarding his position we're
Incorrect and that their appearance was the cause Of
much uninteniional harm. The sole objects or TIE
Times have been-6rst to supply the commercial
public with tba. information which was necessary
from day TO day in relation 10 an estate Of such
magnitude as TO involve assets alleged 30 amount
10 coo 0O0L; and, next, 10 counsel all who might
be interested not TO allow either themselves or Mr.
Oliver to be damaged through any hesty proceed
iDgs under a feeling Of panic. at time when
there is ground to hope that an easier money market
is approaching. The constant reference TO the
matter so long as there il anything TO Communicate
with regard to it is duty which cannot be departed
from and the only thing that can be done IL lessen
the ANNOYANCE and embarrassment TO individuals
which ali painful circumstances of this kind must
create, is to use caution in avoiding every idle ru
NOR and TO demonstrate against a hopeless view be.
ing taken until every effort has proved useless This
course has been pursued throughout, and notwith-
standing the allegation of the trustees, no naceurs-
cies have been inserted. The first reference TO the
matter ives the 9Th inst, when IT was stated that
81 Of NJ Ead ham sfurua
was hoped his assets would yield surplus of 1900 co.,
and that if this should be the case ample assistance
woulc speedily be afforded him-an event much 70
be desired since bis suspt Dsion, il permanent would
bring down others. IL was next mentioned that
five inspectors had been appointed, and that,
although many contradictory reports were IN crculd-
tiop there increasing belief that the required
advance would be obtained. After this 1t was an
pounced that arrangement was understood TO have
been planned by which Mr.. Oliver vas to surrender
a certain number Of his vessels, and to be relieved OF
400 600 of liability. Subsequently, however, doubts
were expressed TO whether this could be carried
out ard finally it was mnntoned tha, the Affairs of
Mr. McHepry, with whom Mr. Oliver had been con
nected had bt zen found to present most nnavoraoie
prospect that they had been brought into Chancery
by some relatives, and that in Mr.. divers case the
previously entertained of good arrange
ment seemed 10 have been abandoned. The whole OF
there announcements contained, 1t is belleveo, IN all
material points nothing bat literal truth. Those among
them which referred TO favorable anacipations came
from sources supposed have the authority either of
Mr. Oliver or his trustees, and, place having been
given to them it was necessary that equal publicity
should be afforded 10 all that subsequently, tended 10
LEES favorable termination IL is true that the trus
tees even now express confidence in bringing about
an arrangement by which the assets OF Mr.. Oliver
may he realized in the best possible manner, and the
sacrifices which would attend any other process may
he avoided; but this, although doubtless good ar
rang cement far as every arrangement good which
is the best under the circumstances is not in accord
ance with the expectations entertained when surplus
of 1 800 600 was hoped for when the parties
having claims for ships sold expected to get them back
al cost price and thus 10 settle all questions. IT, after
having mentioned with qualification the prevalence OF
such expectations The Times had concealed the fact
of their having been abandoned, there would have
been tie strongest ground for condemnation. The
trustees of Mr. Oliver all possessed Of too much
dommeI cial intelligence TO deny upon reflection the
truth Of this They will also understand that the re-
eapitulatioDs given does not proceed from de-
sire to question the spirit of the notice they have just
issued but is ntenc ed simply TO show them that tnat
notice is For their exer,ons TO prevent or
mitigate the evil that would arise from al abrupt
winding up OF the affairs of Mr.. Oliver the mercantile
public. not only of Liverpool, but throughout the
country are indebted to them, and whatever may be
their cegree of success, tn. Times can have no feel
ing but one of satisfaction in recording it.
with regard TO the Chancery proceedings inst-
tuted BY Mr. w. Gardner, who is stated 10 be rea-
tive or family connexion of Mr.. Henry, the follow
ing is from The Lirerpooi AlbioR Of this morning:
by wheS il sppss. that Ms.sr. " Gsfdaer and Co have
suoed against M Oliver for the purpose Of hav
pg ,undy bills sceepted BY them cancelled These amount
TO o. and IL alleged BY Mesrs GsrdIer aud Co nst
they received consideration for them The injunction
obtained their being passed ino the
parties Several Of th'm however have gone
s,.e up the ofheri followed These bills have
been draw IS iolows-sx bills by Mr. Oliver in July snd
August, an euntns 70 $500; ei. oy Me's H s .nd
go s6U BY janis M'Henry bills taed the 9Th and 18Th
September 1880, aud consideration, Is Lending
for financial AID shows WITH
other fnaneering operations that have light In the
of cs4Id Of the other large houses
which hsv suspended that Mess Gadner' Is b. 10 means
.Bsle u.snee Of being lent without eeany OF e'1
alteration"