The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1857-11-07

,oE
Do. do, 1868. iVa u io'
State Securities.
MsrSnma p me-, cent ST "a bonds - 80 90
massachusetts per cent st'g bonds. ....... 90 ss
Pennsylvania per cen. stock :,,,''..'...' ~ 20
Virginia per cent bonds 1885 ........... 70 so
DO S per cent sterling bonds, MSS ...... 81 So
Ctr Secsniies
New Orleans City per cents, 1883 .......... "a 10
Railroad Bonds.
Illinois Central per cent bonds, LIST mort 1879 %
Do Do osr cent s Irse Gs sna 1 bonds 1860
Michigan Central per cent do, 1869 % a -
New York Central per cent bonds lsss..... "a 70
Do Z per cent bonds, 1864. .............. S5 u 81
New York and Erie per cent Sd mort, 1888. 50 IS
no CENTRAL i'sI per cents 1850
EFF. sATTERrHw AITE's CIRCULAR.
During the past week the bank has further raised the
rate Of discount per cent There has been active
business in American securities but at lower rates m
nois shares have been freely sold at and discount
Construction bonds have also been sold freely At 10 Erie
Consols for money $50 to 81 for account, $50 TO 49,
THE FAILURES IN ENGLAND.
The Liverpool Times Of oath OF October says-The
news which reached Nottingham Monday OF tho sus
pension of Messrs Agnes Melis Of New York, an
nounced by the Canadian mail occasioned considerable
and anxiety, nasmuch rs that firm was known
have very large dealings with several of the Noting
ham houses is currently stated that the total iab
ties Of Messrs Agnes Mels, in Nottingham, are up
wards Of 700, distributed among several houses in
the following proportions:-On firm, f12 900; another,
10000; third, 900, and the remainder IN smaller
| amounts. =
AT meeting of the creditors of Ross, Mitchell Co.,
Canadian merchants held on 23d OF October proposition
made by the firm to Dos in the pound by four
half yearly payments OF 5s EACH with SIX per cent nte
rest business be still carried on under the nspec
ton q committee to be nominated. The terms were
agreed and the London and Glasgow members OF the
committee nominated. The assets were estimated
at f473573, and the probable surplus over liabilities
s57 Ooo
The same paper adds The recent failures in Glasgow
and the consequent stoppage mills have thrown
! of between 500 and 1000 women.
They principally from the rural districts around Gas
and entirely dependent upon their own exer'ons Tor
their support public meeting has been held for the
purpose of relieving the necessities OF the poor girls, IN
far possible the fearful consequent
ces which otherwise likely to ensue from so many
young being deprived OF their ordinary means Of
| subsistence.
CONSEQUENCES OF THE MONEY CRISIS ON TRADE IN
ENGLAND.
! from the London Chronicle, Oct %
We shall obtain very incomplete idea OF the conse
qucnces likely to result from the present crisis IN the
United States IL they considered merely in reference
10 their monetary aspects The suspension OF banks the
failure of mercantile houses both sides OF the Atlantic
and the drain of gold from England, no doubt the
phenomena calculated chiefly to arrest immediate atten
on other issues Of not less Importance though of
later development, certain TO follow, and should be
duly appreciated by the commercial public both here and
in formidable consequence oil the cais
events so many Of the largest trading and manu-
featuring establishments in the States, VIII be the
sudden dismissal of several thousand employees
and operatives, who with their families must VIC fear, be
subjected privations during the forthcoming
winter. The prospect Of seeing large class OF indus
fellow citizens exposed from no fault OF their own,
the mseres Of destution, has already excited much
sympathy throughout the chief cities OF the Union This
the deplorabe, because has originated
in a crisis which the time terribly cripples the
OF those Weather members of society who would
| otherwise have been most ready TO aiqyd roller.
Another result In which Ourselves more directly
concerned ,ci be The aos al opIa9e g our export trade
% the United Sotes While commerce remains p.Ialy zed
New York and Boston the English fall trade which Is
generally active, must perforce remain dormant.
Even our American customers were N condition y
merchants this side would be reluctant to forward
consignnentsrntl the mnke, had, IN some measure, re
covered the credit which has been heavily shaken
This Of busncss with America must
tell considerably the trade returns for the carret year
which have hitherto exhibited enormous an increase
even those for 1856.
1t was a characteristic their trade with England,
which often gave American relatives much uneaness
that carried on by means OF constant
Of their Californian gold 10 our market Last year, Tor
ae'G,ag 70 Rr anna"nres 10 ,ha yas,e
Of thirty millions sterling, and exported hither
the precious metals These remttnces OF bullion must
81 long the States require all the mo.
ac currency they possess and more TO serve the needs
81 their domestic commerce. Other European nations
will suffer paralysis Of their export trade nth America,
though 10 equal extent Ia 1856 the United States
purchased have stated, l5i million dollars worth
Of commodities from Great Britain; and only 20 millions
DO millions serling) from France, SO millions from Spain,
Il millions from Germany Belgium Holland sweden and
other countries Northern Europe and about Is millions
from Portugal Sardinia Austria and ohcr districts IN the
south OF Europe Including Turkey FROM China the States
imported and silk the value Of 10 million dollars
porting only millions OF commodities; their
trade with Brazil Mexico, Venezuela Chill, Peru, and
other countries belonging their continent present
inc also in almost every considerable deficiency
the side Of exports which must Of course be filled up
by payments money The trade with all these markets
suffer n considerable contraction, while the United
States have money to spare and In this consequence
specially interested affecting the financial CIR
cums,ances Of customers with whom We carry on exen
| siye dealings. -
on another side British commerce with the States will
probably undergo fluctuations from which shall derive
considerable benefit The price ~ all American produce IL
fan RAPIDLY end largsiy Under the pressure o.
in a hurry 10 realize and the natural consequence
must be that the English purchasers will get
their goods cheaper Tho harvest IN the states has also
been 81 extraordinary abundance 50 that have
every 10 erJsct dbusidni supply n brelisis
from that quarter at unusually lop raies and as homo
crops have proved also excellent. hope 70 the
price q bread in England subsde point that indicates
| the maximum Of chcapness and plenty. similar
operation may Be- artie'pdted, IN ICES dsgrss With
crop OF this article no, asccraned when the last
adyices left New York But whatever the amount,
| may he that the price ~ foreign customer
| viii prove ten or twenty per below the tariii
that would have ruled under ordinary circumstances.
A. the first OF panic indeed, tho natural and
inevitable decline IN either article was realized
of the difficulty experienced in forwarding pro.
duce from the interior 10 tho soaboard Owing 10 tho
suspension Of many banks, the medium by which pro-
ducers distance could obtain remances from the
porting consignecs temporarily stopped, and their
produce consequently held back for the time But
this Of delay altogether casual; and the
poriance to all parties OF promptly turning the commot
ties into negotiable value incacuabe, cannot
doubt that some means would be devised to overcome
the obstacle when the now of produce from the ine-
ror TO 10 the ouports once reoommcnccs the effect on
prices will speedily become apparent On the whole,
therefore though may ee something by the conrac-
ton Of export trade and suffer little inconvenience
through the drain Of bullion are likely ia return TO
obtain supplies Of cotton and compare.
lively easy terms through the occurrence Of commercial
crisis in the United States.
From the London News, Oct. 23l
Eight per cen, az the bank Our marke, ?, length sctn.
ally experiences the effect arprehcnded from the Amer