The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1857-11-14
COMMERCIAL FAILURES.

liabilities estimated ut f300 900 sterling.
lowing-At meeting of the creditors Of Messrs Ross,
Mitchell Co., held at Glasgow the proposal approved at
expectation that il will be carried out
The suspension s announced Of the firm of W. & H.
Brand Co., house formerly in the West India trade
but during the last three four years engaged in large
American transactions The soppage is attributed to the
receipt Of remttances from the United States The
of liabilities has not been stated but 1t supposed
10 be rather considerable
Tho Belfast, Ireland Ulserman, Of 26th ult., says
Two large merchants in Befast-a ship owner and ma
nufacturerhave been obliged TO call meeting Of their
creditors. The liabilities of understand be
between f40 900 and ESQ 900.
At Hamburg Messrs. Wndhof and Pieper a house con-
nected with the American and Russian trades have
stopped payment but their liabilities not expected TO
prove very considerable.
The financial details from India not unsatisfactory.
At Bombay the import markets had become active at
higher prices and there better demand for govern
ment securities At Calcutta persons seemed TO
ucpae that the fall OF Delhi would in less than month
be followed by extraordinary recovery in all depart
ments OF business but the dissatisfaction iet at the pc
ca conduct Of the government is described to be uni
versal.
Huddersed letters state the suspension of Messrs
Thornton, Higgins Ward Co, Of that place and Man
chester with liabilities for f5O0, 000 in the American
trade Several other American houses would be severely
tried, but expected they would get through and
there general disposition the part Of all strong
establishments encourage confidence and 10 assist those
who have been Unexpectedly struck by the New York
crisis. AT Manchester, Mcssrs Charles Smith 4 Co, in
the muslin trade stated 10 have been brought down
connection with the difficulties in Glasgow.
THE SUSPENSION OF NKssRs. THORNTON, HIGGINS,
AND COMPANY.
Prom the Manchester Examiner, Oct 81
meeting took place to day, which did not break up
until late hour, Of tho creditors Of Mcssrs Thornton
Higgins, Ward h Co., American merchants. A state
ment was submitted made up by Mr. Paine accountant,
which we give below showing n surplus in favor Of the
estate Of E41 206 lbs Cd This statement had pre-
vously examined by committee Of creditors appointed at
former meeting, Who after taking on doubtful and bad
debts and allowing for depreciation Of stock reduced the
liabilities 10 Elsa 000 and the assets TO f132 600 thus
showing deficit of f22 600 After heightened discus
sion composition Of 15s. in the pound agreed 20,
months without security We understand that the feel
ing OF the meeting unanimously OF sympathy for
the firm which had suddenly been compelled 10
pend by the financial crisis in the United States; and
impossible accurately 10 estimate the loss that might
be sustained the meeting agreed accept the above pro
position leaving 10 tho honor Of the firm pay more IL
they should afterwards find themselves In condition
do so. The following the resolutions which were
passed by the meeting
That the holders OF all bills bearing the endorsement
Of Messrs Thornton Higgins Co, be requested u
willing accept and in the Of such being
obtained this meeting s Of opinion that the
best be bqudated by Messrs. Thornton Higgins Co,
themselves, permission being granted to three Of the
creditors 20 inspect the affairs OF the nj time
2 That the committee appointed 10 inspect the affairs Of
Messrs Thornton, Higgins Co, having reported that,
though the condition o the concern Ia dependent upon the
receipt Of further from America, which may realize
good surplus after payment of 20s in the pound yet this
meeting accepts the proposition TO pay 15s in the pound
twelve and eighteen months, leaving entirely 10
future time " the condition Of affairs should enable