The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1857-12-05
THE LONDON MONEY MARKET.

[From the London Times (Cty Article,) Nov. 1911
The applications at the Bank OF England for discount in
again been seriously extended; but the public have abun-
dant supplies Of money for Investment and the funds
show nndimnished hrmness. Consols for money which
advanced after regular hours last evening to s9k
were first quoted Ses s9h whence they improved
SOY s9A Ultimately, although the quotations
AGAIN se s9 for money, and s97 for the Ith Decem.
ber the market presented good appearance There
particular pressure for loans secu
rites. and the rate ranged between and 10 per cent
Bank stock left OF at 112 2l4 India stock 2ii 2i4 In
din bonds, ASS. a Sos. discount.
The demand at the bank today extraordinarily
heavy, but II must be remembered that the thus
obtained paid into the banks with whom the
dscouners keep and that the end Of the day
these banks them into the Bank Of England that
under certain circumstances, IL quite possible for
enormous quantity To be put forth by that establishment
without it, sustaining any ultimate dminuton Of its stock
il only when notes or gold drawn out to strengthen
the reserves of provincial bankers when gold taken
for expectation that the ofhe Bank of England
impaired and the peril in these respects
siding The run Scotland appears to have entirely
ceased and further total 100 900 sovereigns was re
eeived thence this mernng From Ireland the reports
are so FAR favorable that s not thought any addi-
sent there In this country the steppage Of the
wolverhampon and stafordshire Banking Company may
head 10 Increased precautions the part Of local
Establishments but u Is believed that In ample
provision against emergencies has been made for several
weeks past Wih regard 10 the foreign drain, nat only
forthe completely checked bat beginning 10
c'oy the benefit of such arrivals take place To the East
the shipment mercantile account by the packet OF tho
Goth instead of being fs0o ooo in accordance with the
ordinary scale throughout the greater part Of the year
will be only fGS 900. Meanwhile gold arrivals from
Australia and Russia have found their 10 day ~ the
bank and from both quarters further amounts mme.
dately expected. From New York also, II Is thought re.
uittances will again be received by each steamer.
The Baltic this afternoon has broughta moderate and
the Persia is looked for on saturday with com
p#ravey considerable total Under these circumstances
Improvement may be hoped. The public mind owing
o the almost total mpfactcabty Of obtaining advances
drawal Of the FACILITIES hitherto reckessy granted by
Of the discount houses, s undoubtedly in such
condition that be slightest fncreose q disrga might lead
gf
but Il the next few days should pass without any fresh
disaster Of unexpected magnitude there will be ground
trust that gradual recovery may be at hand.
During the day the probability discussed Of fur
ber advance the bank Of discount morrow but
An average business has been transacted in foreign
stocks, but 10 the market has shown
cy towards further depression advance took place in
the early part OF the day In Turkish but not main.
tanned and the closing price was slightly lower than that
Of yesterday.
The quotations Of the French Three pcr Cents on the
Paris Bourse this evening OF for money and s7f
Ice cr the end Of the month showing further advance
Of hree eghths per cent On he rie7,ua Erchanor fhc
pressure incrsases and ,cithin the past ten ddw ne pre.
mum gold has advanced pr cc1u
About fq2 600 ~ Australian and f62 of Russian gold
taken to the bank 10 day, making, with 100 900
sovereigns from Sco,iand total receipt of f254 coo
further sum Of fo2o00 Russian gold expected In few
days
fesuspcnsons day have been numerous First on the
list Is the old respectable mercantile house Of
king Son, with liabilities for than fIO0 600 They
connected with the Swedish trade, and will suffer from
the stoprage Of Hcare, Buxton Co., ,ed yester
day bur the immediate of their difficulties the
failure q Brentwood Barclay on the 9th inst Annexed
is the circular issued
No. e6 FFScuuRcR srRrtr Nov ls tss7
With feelings ~ the deepest grief announce Won the
duty which has been forced upon suspend payments
den, hope nc, only of saying ali our creditors IN I'm with
interest but fso of realizing surplus provided our asses
be dissipaied by unforeseen hostile proceedings
Embarrassed by the unexpected failure Of Messrs Broad
Barclay, whose acceptances held - large
amount and whose Sail hes compromised ourWest
india mo- r wh Whom sas We s are deeply 9yG,ed
channels a accommodation and the efforts of
have been rendered nngstory by the possbty
Of making available large amount ~ bills
essop thus compelled % a step the panfu
necessity which had not Until quito recently
wnh tse assistance n Messrs Quter Rail- Co We shai
repere balance sheet which shall be laid cred
sos with r possible despach but need hardly add that
the and extent Of our business time must
eapee before ts compilation.
Beeakrg your Kind sympathy under these sad reyerses
r. s-sinoe tho foregoing penned the suspension of
wessr. Hoare 20 has been announced BY which
we fear our peiiion will be naiorialy altered
m consequence Of the datcutes Of Sevekng and son
and Hoars Buxt,n and Co.. Messrs Allen, Smith and Co,
chiefly engaged business With Denmark have also
pended. TIE amount Of Their liabilities has not trans
pred
Ncssrs Sveudsen and Johnson merchants ship brokers
md coal exporters With branch establishments at New
castle and Ilarlepoo have likewise stopped from tho
game
Wessrs Gorrissen Huse and Co., merchants have been
brought down by the absence of remttanees from Anne
rira, and Davc issued the following
R0Yat EScnlSer BunpiSes. yov. ls, 1857
GrsuEsFr-with deep regret We have ~ acqlnnt You
that eed " suspend payment and have IN con.
sequence 10 reqieEl the indulgence of our credlors
Heayy uash advances ~ pares IN the United states, whg
are Al present unable meet t engagements The erect ~
recent failures 10 tis eoupuy r suddenly rendering ~