The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1857-11-07
THE CONTINENT
rnE FAILrNEs ASH BANx cAEpITs IN vIENNA.

THE FAILURES AND BANK CREDITS IN VIENNA.
Vienna oct lq) correspondence 81 the london Times
IN the evening Of Saturday the principal creditors of
Boskoyltz Co had second meeting with the representa-
Of tho Credit Bank and after short discussion the
following arrangement was made:-1. The Credit Bank
engages 70 advance from 30 to 80 per cent on all bills
bearing the signature OF Boskovitz Co. thatss third
half Of the amour, Of the bill will be advanced 10
the creditor his consentng TO leave as security in the
hands of the Credit Bank. Each creditor gives
written promise 10 the Credit Bank that, II the
affairs u the bankrupts are not wound up within SIX
months II the proceeds Of their estate are not
equal to their debts he will pay TO the bank that part Of
the az the bill for which has security. g.
The Credit nix advances money 10 the amount of 600.
0o0n, and besides, undertakes TO mediate between the
bankrupts and their creditors As the public papers
strongly Objected 20 the original proposition Of the Credit
Bank that " claims the estate OF the bansrup should
have right Of precedence and be discharged N fun that
institution expressed lie willingness otske It's chance with
the other creditors " they consented 10 pay per cent
for the money advanced. This last proposition was
eagerly accepted, but stl the matter cannot be con
sidered definitely settled, many Of the creditors
Of Pcskoyitz Co were not present at the meeting.
bills and 2Ts 0oof book debts. During the last two or
three days there has been lu but Is probable that
the crisis very far from being at end Information
given this morning that two manufacturing
arms had suspended their payments, bu, names
be mentioned until the report has received complete con
nrmation.
THE FAILURES N VIENNA.
Prom Vienna letter Of Oct, Is
Ten houses suspended payment N the course Of yes
lac, winter lottery 20 900 forms 100 900 francs had
built magnificent warehouse al Nuremburg, has com.
United SUICIDE. IL u said that the failure Of Boscownz
had led to his embarrassment This is the Mn suicide
within a FEN days from similar cause.
THE MONEY CRISIS IN HAMBURG AND BREMEN.
The following letter from Hamburg " the London Post
throws light the working Of the monetary crisis IN
that city and IN Bremen
The pressure money market became much more
stringent when the telegraph brought the Intelligence
Of the Bank " England having made further advance
IN their rate ~ discount, and for the most unob
jeconablc paper has been quito impossible obtain
ccsb lower terms than eigh, per cent per anulm,
while many who 10 meet their engagements would readily
have given ten per cent for good but not select bills
found that they could get them converted into money
any terms and Tho consequence has been that heavy
sacrifices II goods of various kinds have been freely made
10 meet the eygencss o the hour AZ Bremen the tight
has II possible, been still more severe for M the d.
rect intercourse between that city and the United States
comIaatively greater than that which Il carried be
tween America and this city, they hdry been in addition
opposed % many adverse circumstances from TIE monetary
and commercial dsorg1nssaon in s otef cities NJ the
tnicn which has idter'y pveroid Roth here and there
however the evil has been increased BY almost stimuli
taneous announcement from official authority that tho
punr tua payment Of the call the Russian railways
which falls due in December would be vigorously enforced
and ~ from the financial connection o Messrs Stcglz
with Hamburg and with Germany generally a consider
able portion ~ these shares held here both BY private
Part q and public companies this intmation has
upon them al a very nconvesent time end may yet had
10 much mischief II Is fortunate that in England there
will lie no apQravaon Of the effects Of the present crisis
from he. cause ed the effects u this cxacton will
therefore be felt In any degree Intensely there they
cannot fail be only in Germany, but in Holland and
Also where the great capitalists werc not eau
tious