The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1857-10-29
THE FINANCIAL CRISIS.
So.orO.No|ONoO>N~Oo~~~SO>~
The Effect Of Financial Affairs in America and
India on the Money Markets Of Europe
STATE OF FINANCIAL AFFAIRS IN LON
DON.
B.Y. .sATrKRTHwArT1's CIRCULAR.


B.Y. sATrKRrHwArrl's CIRCULAR.
LONDON, Oct l6, 1881.
rate Of discount to per cent hssaer further advance
will be required win depcnd ,he Of range In
Aucrica and India Some buion was Forwarded TO New
York per Bslsc and further are 10 by the Persia
sars ana sscl'nsd 10 cay for mspey to-day ,ney arc
Numerous iluiss have occurred Oui the general baa
A ysry sstye business has been dene In Ausr,oan
securities bus considerably lower rases Illinois shares
declined 70 and discount and have again advanced 70
dhecurt oonsrucicn bonds have been sold ii 10 and
70 We note moderate iacora In Erie bouds Of 10S9
1879 1909 sBt 1871 and in shares a our quotations
Michigan OsnhN bonds OF 1859 siI pressed on ths
= so Some mail sscs q New Tck osstsl shstes have
been nsAs ~ reduction Of pss cent IN price
ossooD FIKiDs cRouLsR.
Al sn early hour On Monday moraiss sse basE rate
wN aavsnoed per ccat. Dunng ,be ssriy part II tn
wssk The impression ". very general thss further rs
spreNance but Tho RED lsrkes havns sscs arrived ron
AsiraA with sbou. fs5o0c0, and the anodnt Of gold
ssS peo-PSoh "0 les. than Va. suopsssa@hs sssty
meet Tho dlr c!ors passcd or yesterday win out any
slxrat'oa being made. Everything %, consequently,
Consols rave declined about ~ pr sent under Tho
money pressure the sps ess In Amenan seou ues ass
mainly fined 10 ne shares and bonds OF me New
York and Efie, Illinsh OnnAl and Ne~ Yo k osn.ra
RAil-sys, u Prices sh,uinS . deaAne on last wssk's
soopLIYrI AND sxAHrs RspoRr.
Lcspos, ooa 10, 1851.
win Fellow AIN oai - matter Of ocurse from the
posiscn Of he money mAykei thai business gcno
rally extremely mised. and tbs, very lille can be me
In charterns; he sss sdvnnce In zoe bank rate Of sh
70 per cent although In somo degree sx ccted
yei took The purlc by suIprse, aad be sdso d ell Mo
trssief seehg hat 10 more than probable further al
n, ,ss. here vii Be- uCssug IKE 90 nmerua pauic
ihcre can bc no danbs tbAt for some tmc ths srcs
sure fsr money VIII 10 very severe, rarely 20 many
consprrg 10 tho sane rcsuh We have hrat
The immediate call for money for ths CHINA aud
India sxredilisns; ssain, the fsos Of mo East
d,sssous panic in me nsrioan money market drawias
bullion from here and Stopping rcnisnoes from tho oher
.uss Apu m.lio5sd s,sos Il !. doopsa b, zone even
Tho high Of par viii sxTet the evil AnotAee
feature which makes u moro rying thas q somo
pers could be effected 81 30 press s1ch so nov The
caso indeed, the, osnuuy the na,hsn rapidly fan
com, sugar, ocr ., ,rlpeie, timber. Esd many ohs.
spds Of goods ssos tsnG The uA.s Of snnss IN Trade u
could ssy ss s,pssoS the n, .syo va woss
70 The Ear Indies tho range Of occuraiion fer tonnage
must for rome time DO limited In III exxni and ua-
remunerAlvc In IL character.
NEWSPAPER EXTRACTS.
Prom ihe Lnnaon Times, toiy Arsoss,) oM 10
been - fsvovsSIs = could have been hoped MS ain
doubtful n NE necessity FOR rhsr sdvasoc 10 ihe rae
pso, il .bsi resp.cs. ahousb ns pcii ,c anig dpnd
ppsn N adrics 70 b bro1eh from Neio York ey ne ArsL
Jousos money, bich kfs 20 yesterday ~ s7a,
nodcrsls denasd for 1904 On ths p.ri q ihs pubic
caused . steady recs-ery 70 ssx Great sensnves.s,
sale Then swcd desrns s7x ., shch shsy NAMED
10 The cose For be los Of November the last prios w
ssenss q ss s.oosu .s,os pssssa S s.sssosS S
although there full suppy OF stock upon ,he mvks.
and oan On sovtrnmen. securities vers 10 fsi demand
isi, o 81 aii 70 2ls Rsducea 70 Isds B,nds 3os
70 2os dbccunt purchase Of fio 900 Exchequer bills
vS sssn made on pubic sccoun and The last price sss
ne rvsnye al te Bsnt Tsv dhcounts soosn eprar
dnor'iy hary or, TIE arse advances .h.ca became ~
The dividenes the payment Of which oommesoed snis
norlrs, about 6e 900 COO, and ne proportion usually
tasen on The Arst day 10 asout Ga, ,oooo 900
vte apdercy 70 restoration Of confidence wM much
assisted This Afternoon By The annourocment thss about
he Red Jaehes has been Ascn 70 me aans s.o rSns
p,ed thsi bc doub 70 the correctness Of tne Ngs 60
n.,cs Of the specie 70 be sent by the Bsc Nos York
well founded, he total shipped By that vessel bong
only CTS zoo
nero wss an suenoe of commercial faiures Of any
rrest Importance. report vas widely circnaied In The
ferncon Of very heavy stoppase Manchester, bus
vss wholly dscredhed among AL The leading nrms oon-
ro., scossh .Sehous.msn. saS also .sss o. sr W.. r.
Wet, wholesale bsberdasher, we're stated 70 have srs
PENDED there bu, .beir liabilities supposed 70 be
hersrs scayrah a Prtpr,os, woolleu wsrehoasemsn.
The reign ssocs mariss hes boon quiet viis Iimiei
turkish, bu, no. maintained 70 The cicss, AMI tse
lss prices shor Bnle alteration non Yesterday Mexican
negotiated lsk 10, lsk, and To- and for ,he
The anal quotations OF ths Frcuos three per ceu on "a.
Paris Boursc this evcrlrg 6sf o0c fce mouey and
65f for tbs END OF he month showing recsvery OF
three sishshs per cert A Vienna ,here had been fall
Of pcr ornt The rate of discount II staed 70.
Gently ranged rom IA I, rs per cent and the failure has
been suu ,rpoed Of B,skovip, large mission
chart Il Possh for f2bo 00 followed By as OF several
unog nfma Al Amsterdam the BANK q Holland stated
70 have advanced hsr charge for asocuns from sk a
which fixed the slh inst " the unprecedented
yre Of per cent whe the Bank OF Antwerp have adops
ed an advance n per cest-rsmefy, from ~ 70 Az
FROM NE london Herald (Usy Aysscle) OCT rs
fluctuations In public securites have
bosu sstansve of feeling among the moreyed