Wilmington journal. [volume] (Wilmington, N.C.) 1844-1895, 1857-10-30
From the Times of Oct. u.
Financial fairs,

The funds declined Il per cent The demands for
discounts at bank is more numerous than any during the
month Sixty thousand pounds also withdrawn
| for expectation. The American advices per Persia
show that many months must eapse before its consequent
COS here will be retrieved The chief danger of gold be-
ing sent hence to New York account of large adj
ditiona purchases of securities which capitats
have been tempted to make at present prices AS re-
spects commercial losses to be sustained this sde very
heavy amounts believed to have fallen Lyons and
Paris-Manchester, Bradford and Glasgow will also
| suffer considerably
From the Times of the 18th.
The bank to-day raised the discount to per cent
This fully anticipated, and from the extent
of the applications to-day it is doubtful if further
ment will not Immediately be found necessary. The
amount of bullion withdrawn from the bank has been
only nine thousand pounds, but it is asserted that four
hundred thousand pounds will be dispatched by the Bal
tic and Persia, Wednesday and Saturday next, and
as the Indian exchanges show adverse alteration, it
is also anticipated that the shipments in that direction
by this mail OF 10th will be larger than at any time
thought probable With these prospects, fresh advance
in the rate of discount scarcely be avoided and per-
haps may again the rate of eight per cent, at
which it stood in October l847 In proportion, how
ever to the suddennes of the pressure will be the rapid
dity of the ultimate reaction. There is nothing to
cite apprehension that the disturbance will be protract
cd The sole cause for anxiety is the fall of such houses
in the provinces and elsewhere as are unavoidably COM
promised by the American failures and fluctuations in
LnG markets IOf lnlS SIOulu nOJ De-
get however, any terror calculated to lead men to
single day of general financial distrust The belief u.s.
however that the decided action of the bank has
ed all danger that account Altogether the feeling
exhibited to-day such as to excite pride in our health
full system of finance and to confirm the impression that
although the shock from America comes upon us in the
midst of the Indian mutiny, shall be able to with
stand it that its consequences, heavy as they must
necessarily be- shall not destroy confidence or interrupt
the general welfare of the country. The fluctuations in
| the funds to-day have been extremely great.
| -Four failures were announced from Glasgow to-day
The principal that of j. Monteith & Co., whose
liabilities are believed to be extensive. They were large
shippers Of Glasgow goods to America and elsewhere
The other houses arc Patterson Co.. Macdonald & Co.,
and Wallace & Co.
i From the Times of the l4th.
The quotation of gold at Paris is nearly two-tenths
per cent dearer than in London, and at Hamburg five
tenths dearer The fluctuations in the funds to-day have
again been rapid and extensive.
The market opened with great weakness, but there
was subsequently considerable reaction and more
for money first quoted at =. No sales however
assisted by several purchases the part of the pub
noon, when the government broker appeared as buyer
of el0OOO exchequer bills On account of the sinking
fund.- This increased the tendency to confidence and
ultimately notwithstanding the announcement that the
Bank of France had adopted rise of one per cent in the
rate of discount, transactions effected at S73 to
877s, and IS to $50 for the 10th of November After
the regular hours there less mnes and quotations
were 8la to 67s for money, and 50 to 6816 for the
| account.