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

The causes which have hia step on our part
or % are na T.
pare full statement hem for saemsssen 70 our cr'dor
'''>'' WV '''''~s GoRRIssEN, HUFFEL co.
there has likewise been failure Of corn importing
frm.-Messrs brockleshy & Wesscls-wh liubiiNces es
atout f40 coo, and which, Ut present de
pressed prices, would yield about $4,000. Annexed
their Circular
MuSUovy COURT Nov. l8, 1887.
1s y t. TO sss
unsatisfactory coudon Of the market we have been
ss:ement Of gu, affairs watch is being prepared by
Mr. Jay Of G 1 s w v sSs 10
''' s0u' A'A' '''''s BRocKLEsBY 4 VESSELS
Messrs. Hcare, Buxton Co., whose failure in the
Swedish trade announced yesterday, have since ad
dressed their creditors az follows
q OLD BROAD STREET Nov. IS.
thrown unexpected .tes upon u.s. he result Of which We
Our dependencies principally with sweden and rely
~hch have hitherto Ser commerca
s aTs TO
We have placed our affairs In the hands Of Messs J. r
ing our creditors al earliest day possible In
time we shall adept measures for the mos. speedy reasa
ble the Inconvenience which our suspension may have
The Calcutta and Manchester firms of Hoare Miller Co.,
are in no way affected BY our Ho%RE BUXTON CO.
A meeting of creditors of Messrs r. Bainbrdge 4 Co.
whose suspension announced the 18th inst,
held to day but in the absence OF accounts from America
positive inormaon to the financial state of the firm
could be given The immediate of the disaster
stated be the failure Messrs Dennistoun whose ac
ceptances Messrs Bainbrdge held To the amount OF
Ell COZ committee Of four creditors appointed 10
watch proceedings, and 10 cali meeting soon fur
ther intelligence arrives from the United States.
An Improvement which has occurred in the shares OF
the Fast Indian Railway Companies during the last two
days attributed to report thai the Imperial 9oosrnmet
hare resotued to assume uedicded control that
pre- as also affirmed that no loan is contemplated to be
raised on its behalf in England
In the railway market recovery took place in the
morning, but il was not maintained and the leading de-
scrpuons closed generally hater. American securities
were active and show increased rnness, especially New
York and Erie
from the London Herald City Article) Nov. lel
With mercantile affairs in their present unfortunate
dton Is not probable that the demand for money will
greatly relax The strain in all quarters continues to be
extremely severe, and the applications at the Bank
although not generally responded to- of exraor
binary character The Issue of under letter OF
relief continues but the full inquiry for accommodation
cannot be satisfied the discount brokers having
degree restricted their operations Out of doors the
terms for the negotiation Of paper quite arbitrary and
the bank rate cannot under the most favorable circum
stances, be approached within two per cent
II stated with confidence to-day "wednesday that
the Bank Committee we're occupied for heightened period
in celebrating upon the position Of large mercantile
tdtismem nhteh requires ecundry assistance The in
teress involved in the questnn OF important
nature that every endeavor will il presumed be made
to the parties the required support Should the
gotiatons not be conducted 10 sccessf conclusion er,
To fear that the house ,cu haze succunb and If
so sereral other firms are likely to BE- compromised
lfrom The london News iCty Article, Nov. l9.J
Our anticipation that the remtances OF specie and bul
lion To the East by the packet of the 10th instant would
be below f400 900 corroborated by the fact The total
amount shipped by the steamer Nemesis only
about f5 900 in gold We're not for the shipment of
quarter of million in silver by the East India Company
the Eastern drain might be regarded for the
quite stopped This the last day for efecng ship
ments The particulars are as follows, viz For Alexan
dria gold 81 900 for Alden leold) f5oo; for Bombay
ELS 1885, for Madras (god), 81 135 tor Calcutta fl73
ia for Penang, f3 ss5 for Singapore 900 for Hong
Kong, fl3,2 ,22s; and for Shanghae, f2,270.
The Importance OF the check which has been given to
the drain will be by the following statement of the
aggregate remittances by each Of the last six steamers
Sept 4, per Indus ses5 o2s
sept ~, per fupon oSS, ,35s
oct. T. per Colombo 594 4s5
oct ~ per inuus III,l2l
Nov. 20, per Nemesis. 3ls,7s7
Iondon (Nov 1s) Correspondence of Manchester Guar
Yesterday a very gloomy day here, especially in
the evening" the suspensions of several houses being
announced, in addition To the named the morning
They are Gorrssen Hairel 4 Co for about E600 ,0O0
Brackesby Vessels, 100000 Svcndson & Johnson
Gao 900; and Aen Smith Co, for E1O0 600. was
addition, further rumored that y large house indeed
difficulties TAT hare the PLEASURE f stating that
the Bank II England has today granted the assistance
qtred; and further that ,chiie hey haze not tately been
accepting any bills they hare iarge deposits placed call
This morning the uneasy feeling experienced last even
ing continued but after the bank meeting broke up
about three and the result deliberations
came known, great relief was experienced and later in
the day there more manifest Improvement, A house
in the Manchester trade was currently reported TO have
failed, but unrte, aud the house has large balance
its bankers and invites any who has doubt about
them TO take cheque Tor their claim.
From the London Times, CITY Articlc,) Nov 2ol
In all mercantile quarters there has been a decided
amendment to day Not single failure has been report
ed and special OF anxiety lately prevalent
have been entirely removed. The stock market opened
with rmness at the prices Of last evening" and although
slight reaction subsequently took place, steady tone
again manifested at the close Consols for money
were FIRST quoted Sesf to whence owing 60 an impress.
sion that further advance in the rate OF discount might
be contemplated at the bank, where the Court did not
break up until late hour decline occurred 10 sg TO a.
Finally upon ts becoming known that alteration would
be made transactions again entered into at sg
for money, and Ss7s pr the 7h Of December. One or
two Of the principal dealers brought some stock
upon the market during the morning but the public gene
rally showed disposition to continue their investments
Loans ON government securities were active demand
10 per cent Bank stock left OF at 2l2 GA India
~. 20 21i India bonds 45s. TO sos. discount.
understood that application chch been made
uthn the last eic days by ading american ho,se the
Bank ef Kagtand for a iorgs adpance on securities FUR
nished from The ptrdfe If he firm, has been most
Satisfactorily met and that all the accommodation required
will he fully granted.
Foreign stocks have been in better demand and in some
cases spartiil recovery has takeR place.
The final quotation Of tho French three per the
Paris Course this evening eff &C. for both money and
account showing no alteration.
The private letters from Paris describe better feeling
Some g The American houses are teginning to gt remit
tdnces and the situation Of the Bank NJ France IL mpror
ing Al other continental cities there likewise signs
Of an approaching tendency 10 revival OF confidence
further amount ~ 10000 Australian gold sold
10 the bank to-day. II is also understood that so 900
sovereigns have been returned from Ireland
The f526 GOO In gold by the Ausraasan will be deliver
ed IN London 10 morrow. II is expected th1 large por
ton II net the whole. will be sold 10 the bank
The bar silver brought by the last West India packet
has been sold at 81 sd per oz showing alteration in
the rate.
The railroad market has been generally fat. There was
little inquiry for American securities and the final prices
show alteration.
Prom the london Post (city Ar,icle) Nov. 2ol
The money market continues stringent and there
has again been a heavy demand for discount accom-
mediation al the Bank of England. II was indeed
feared during the morning that the bank authorities would
advance the rate Of discount 20 still higher point but the
weekly eventually broke up without any alteration
beng made. The sitting vas, however. unusually pro
traced In IL character and II s understood that the de-
liberations chiefly reference 10 demand for
trdord,nary dsssdnce ~ crnea firm in ne metropolis;
and wv beiicrv that after intesteaton Of ne case the
directors Thoroughly su,isei both IF the cTeiency c
according he dssistdnce required and Of the securities ,
dered and complied wih the regu>a % the fuu erent.
The has given great satisfaction city circles AMI