Worcester daily spy. [volume] (Worcester [Mass.]) 1850-1888, 1857-12-03


America, from Liverpool at IL A. NJ. Nov.
I'D arrived at Halifax at six o'clock this
morning. She brings Sl25, 900 in specie.
The steamer Baltic arrived out at half past
ten o'clock on the morning of the 18th ult.
The steamer Jason from New York for South
symptom, put into Queenstown 18th ult., short
OF coal. The Kangaroo left Liverpool 18th
ult. for New York with $4,000 in specie.
The NIOnetary CrInis.
On Wednesday, the 18th ult., the applica-
tons at the Bank for discount, increased rath-
er than diminished, and the list of failures
was seriously extended. The new suspen-
slons included e. Sieveking & Son, in the
Swedish trade, with liabilities of about half a
million sterling; Alden, Smith, & Co., in the
Danish trade, liabilities 100000 sterling !;
Gonissen, Huffel, & Co., general merchants,
in consequence of American difficulties, liza
bilities of about f6O0, 900 sterling; Ivendson
y Johnson, merchants, liabilities G40 900 !;
Brocklesley Vessels, corn importers, liabil-
tiles 100000.
The probability of further advance in the
Bank rate was discussed, but large gold arri-
walls were regarded as likely to render such a
step unnecessary. The funds were firm
throughout the day. On Thursday, the 10Th,
the Times says there was decided amend
ment in all mercantile quarters, Not sin.
gle failure was reported, and some special
causes OF anxiety were removed.
The same paper remarks-''It is under
stood that the application which has been
made within the last few days, by leading
American house, to the Bank of England, for
large advance on securities furnished from
private resources of the firm, has been most
satisfactorily met, and that all the accommo-
dation required will be fully granted. Ac-
cording to rumor, the requirements of the
firm in question-one of the most eminent in
the American trade, George Peabody & Co.
were nearly million sterling, and accord
ing to the Daily Neios, the assistance received
from the bank. after along deliberation of the
directors, will, it is expected, enable the firm
promptly to comply with the conditions under
which the advances were made.
The pressure for money at the Bank, was
undiminished, and indeed, some authorities
say it was more intense than ever, but the
meeting of the Bank Directors broke up with
out making any advance on the rates of dis.
count. Loans on government securities were
in active demand, at ten per cent.
AT Hamburg the rate of discount receded
to ga per cent.
Private letters from Paris, affirm better
feeling there. Some of the American houses
were beginning to get remittances, and the
situation of the Bank of France was improv-
ing.
At other Continental cities there are like
wise signs of an approaching tendency to
revival of confidence
A large and very influential meeting had
been held at Glasgow, for the purpose of ex-
pressing confidence in the Scotch banks. 1t
w rasO1vad fo fbo &c
pended banks as currency.
The shipment of silver to the East by the
mail of the goth, was only G3lS 900.
The stoppage of the Wolverhampton Bank
caused many failures in the iron districts, rep
resenting in the aggregate large sum.
The London Commercial Daily List of Fri
day evening, says "the discount market has
IN some measure become more settled The
timely assistance afforded by the Bank Of
England, has arrested the dire distress, which
otherwise would have occurred. We cannot
quote rates lower. From ten to twelve per
cent. continues to be demanded. There is,
however, better feeling in all monetary de.
partments, and good bills cease to be rejected.
We confidently look forward to the day when
confidence will be re- established.
Messrs. Scott & Co., of Queenstown, have
suspended; liabilities 9lO0. 900 or 92OO ,00O:'
Verg Latest-by Telegraph to Liverpool.
LONDON, Nov. 81.
The funds have been very steady today, and
have closed al an advance of IA per cent
The confirmation Of the statement made yes
terday, that the advance required upon ample
security by an important American House
would be fully granted-the absence of any
further serious failures during the day, the
only suspension mentioned being that of a
firm of whose ultimate solvency there is not
the slightest doubt. A further improvement
in Foreign exchanges, and the prospect of
about half million OF Australian gold being
forthwith taken to bank, and also of a consid-
cradle arrival by the Persia from New York,
all assisting to impart frmness in Foreign ex.
changes. This afternoon rates for Amsterdam
and Hambe1g were rather higher, but Paris
was about the same as by the last Post About
$4,000 pounds of gold and gold coin was sold
TO the bank today.
The suspension was announced, Friday. of
j. r. Thompson & Co.. firm largely engaged
in the colonial trade and especially with the
Cape of Good Hope. Liabilities supposed to
amount to two or three hundred thousand
sterling.
The rate of discount at Hamburg has again
advanced from ga to IL per cent. This
has partly been oceasioned by apprehension of
large failure, which it is believed will be
found to have been sverted.
At Vienna there has been partial recovery
in the funds, and the premium on gold has
declined nearly one per cent. This improve
ment is attributable to the official announce
ment of considerable reduction in the Aus
TRAN military establishment.
At Hamburg, Messrs. Ullberg and Cramer,
arr a. 4 4
payment, being involved in some Of the en-
barrassments in London.
The Daily NetcS city article of Friday even.
ing says 1.-THE funds, after obtaining rise
of three-eighths per cent, closed quarter
per cent. higher than yesterday. Upon the
whole, the feeling in the money market was
today calmer and more satisfactory. The ne
COLLATION. for afording assistance to great
and wealthy American house, with liabilities
estimated at more than $4,000 900, were to-
day satisfactorily concluded The temporary
embarrassments of the firm in question were
solely oceaHioned by the impossibility of pro.
curing remttances from some Of the first
houses in America. Provided that no fresh
important cases of embarrassment occur, there
is a disposition to hope that affairs will be-
come more cheerful.
Last Nights Bank Returns. The Times
city article referring to their accounts, points
out that while we have been increasing our
promises to pay in gold, the stock of gold on
which their promises are based, has been
steadily diminishing. All will see that this
process must have certain limits, and that if
those limits were reached, national suspen.
sion would be the result. Happily the dam
ger may now be regarded as checked by par-4
tial tendency to revival of confidence.
nottingham, Friday, p. M-rhe town re.
mains perfectly TRANQUIL; the Mayor and