New-York daily tribune., 1857-10-26

" G,.S.o.~ ,oods 70 America and elsewhere. The
o;herhosses mentioned are Patesou Co.. hscdonsd
a. 20 he ne ccsqsry 20 prevent as Ter az possible auy
;,c,essc of do sster, and committee Of the Western
| RAN of Scotland had been sunmoned to investigate
| The nosition Of these and other ftins.
Purcbases Of Asercsn Stocks By English capitalists
Untrue on large scsle and this circumstance con-
st,tutfs al the present DOmerta material addition to
the sdyeIse Cf 0ur relations with that country
The aCyiCes fom Paris state that al MEETING of the
Bark Of France Saturday the necessity for ad-
in the rate Of discount discussed and that
il j. Low c. nsdeied certain. The Directors however
anxious that ght delay should take place after
the i'll Advised increase of facilities adopted only
week ego. Duing tie past month about dozs fail
stated 10 have occurred in Paris but all OF
sectn6-Iate houses. From all parts Of the continent
there are accounts of increasing pressure aud at
Frankfort Berlin, Vienna ard Turn, the banks will
orcouDt oily short paper, ard that in certain Limited
an ount- for the several applicants.
The reports of the Il hde of the manufacturing 20
during the past show CONSIDER able dulness, in
oorsequence of the increase IN the rates Of discount
ard the osets from American ia lures. AZ MaDcbes ter
busir has aso been again Effected the stoppageot
several Fix bOuses. Birmingham s stated thus fer to
have escspeo very well The effects of the New York
oisis. Bradford 1t is feared has suffered to
tent and e all points the Cessation of orders from the
United States is likely to cause inactivity during the
next few months.
From IN. Daily Ne,rs city Artcc, Oct la
An in meme sensation was excited IN the Stock Et
change and throughout the city by the announcement
sborlly alter o'clock this morning, that the Direct
Ors ot the Bank Of England have raised the minimum
rate Of discount from per cent at which it fixed
Thursday last, TO per cent tor hret-class bills
to the usua limit of % days. This he highest rate
known since lSi7, and the Iapidity with witch the
alteration has been made sufficiently indicates the
opinion entertained by the BsIk authorities Of the
uao onhry character OF the emergency This opinion,
too, IL clearly shared in general circles for 10 no
quarter entitled TO regard are the Bank Directors cub
ecttd TO the accusation OF acting with uLdoe harsh
The pressure upon the nstdtion for money last
week, ard especially On Saturday, was Of the most
eauaCl dintIy-indeed, almost unpreceoented-kind,
6ud the stock Of coin and bullion was likewise seri
Ouly reLched upon partly for expora'ion and partly
TO supply TIE nects ssites reheve the anxiety, of
cOuIty bankers. The Dram, mor over, continues al
most undated up 10 this day. The demand for dis
count accommodation at the Bank to day was ex-
tIemely heavy auc almost equal to that witnessed
SduICa ay. la bar gold only about - 0OO was to-day
withdrawn from the institution but assured,
COED authority, that sum of 400 600 soverelgns is
already actually engaged for shipment to the United
States by an early opportunity This is naturally to
be Looked for as result OF the fall in American ex
charge which has Low made such progress as 10 allow
Of profit on renittances Of gold TO that side. The
American advces at the same time indicate how con-
ftenty houses there look 10 this country for subsan-
tal relief in the shape of gcld The Bank Directors
evidently had choice but to act they have dOue.
The scene Witnessed in the Stock Exchange to-day
has had no parallel since 1871 The excitement was
inte1se. Prior to the commencement of official busl'
ness, transactions took place in Cousos st an ad vance
cent over the closing Oh
a more favorable ihterpietati n beirg put 10 many
quarters upon certain points Of the Indian intelligence,
including more especially, the arrival OF some OF ths
expected endorsements. Upon the news OF t1e aier
alton at the BaIk panic set iD sales to an enormous
amount being pressed Some Of these were on bank.
ng account rendered ne cessay by the heavy demand
for money while others were by speculators,
ncluGing one estimated at upward Of halt million,
to close the account of an operator for the Use.
Among flie sellers was leading "JObber,
who is occasionally krown to operate for Gov
eminent and the Bank. After extreme fall Off
per cent Ctnsos assumed more steadness toward the
close owing partly to bORa fde investments, and part
ly to purchases to cover previous speculative sales
TIE latest official quOtstjtus however were still l.
per below those Of Saturday, and the market was
uLeettled in character
All other descriptions of securities have fallen Eu
glish railw ay shsrs resisted the panic in the morn
irg, but fell in the afternoon, owing to sales on
provincial and speculative account This department
Of the Stock Exchange, however, was relatively the
best spDyOlt,d.
The lombard street Discount houses haze raised the
rates deposits by per cent, fixing the terms udtl
tuitler ncuCe al per coLt fOi deposits suDsct 10
withdrawal Oh dimand, ard o. per cent With few
days notice. The joint stock bank now allow Pc
cent on deposits and the National Discount Coinp1ny
G. per cent at call ard s. per cent al short notice
these high rates VIII probably attract considerable
supplies OF capital into the market, bGt "l also tend
to deter many people from investing in securities.
Coz sols which closed on Saturday ~ ~ TO Tor
money and ne 1t ednesday set ement were currently
dta 10 this morning at abou. lO O'clock at So to i,
the official business in the Stock EXcAauge commencing
ct H.. Upon the amour ceuent from the Bank, fol-
lowed by a pressure of sales, the market Instantly
gave way and the price fell, with little interruption,
TO 81 T. showing a reduction of about per cent from
the hIst quotstion OF the morning. From this, arsuy
ensued 10 81 TO I, which was the quotation current at
4 s'cock. I he price for the 10th November was at
the same hOuI SSR.
The panic in Turkish Six per Gents formed one OF
the most striking features of the Stock Exchange TO-
day The price which closed on Saturday at Sls to
al To dau wit
gains officially recorded at Sos eX div.
From The London Tim~ City A,tiole oct IA
The hpcuatiots ia the funds to-day have again been
most rapid and ext nsive. The market opened with
ereat weakness at a fall of nearly one and quarter
per cent fom the heavy prices Of last evening, but
there was subsequently, considerable action, aud
more heahfu tone became apparent In all departments
Of business ConsCls for money which left off yester-
day at S13 to were fret quoted S64. No sales, how
ever, pressed at that price, anu graoua recov-
cry took place, which was assisted by several pur'
cbases on the palt of the public The range was then
between 81 and 81 until noon, when the Government
broker appeared as buyer OF tlO,OOO Exchequer
bills on account Of the Sinking Fund TINS increased
the tendency TO confdeIce, and ultimately, notwlth'
standing an annour cement of the Bank OF France
having adopted rse of one per cent in their rate OF
discount trans actions effected at 81 to and 81
10 ! for the 10Th of November. After regular houre
there less fnness, and The quot tatons were o.
to for Money ano So to J for the account.
The great decline in the funds at the opening this
morripg was caused by the anticipation OF further
speedy movement OF the rate OF clsc)un TO per
cent. The pubic, however, did not seem to snare
tie alarm Of the dealers, and the course Of
business gradually assumed comparative steadness.
The fact that even at present quotations specie
remittances cSnLOt be made hom England to the
Uried States at any material profit, supposng the
returns to be furnished in the highest ca:s Of bills
aayed the fears the prospect of sny continuous
shipments to that country while. with regard to
IrOia, it irspspned that some OF tue orders ior
sending out silver on the eth may possibly be coun
tinaEced, the advance in the rate OF discount here