The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1857-11-25

Hons sterling, sndwhen an Investigation IN made
There IL reason to believe that the concern will be
ionnd to have been grossly mismanaged Until the
hour mentioned, the agents in London continued
10 honor the acceptances. A rigid inquiry will IL
Is expected. be made forthwith, and ii the results
prove as unfsvorable predicted, many Of the nm.
Fortunate shareholders will be seriously involved.
IL vas stated that an export duty had been es-
fabiished upon gold In France, but there was no
official confirmation Of the rumor, and as Louis Ma
foleon IL strenuously opposed TO the measure IL
did not attract much notice. The Paris Bourse
was rather depressed. and the kentes receded 20
centnles, the Three per Cents being 66c 55f for
money, and 66c. S0f for the end of the month
Before the Bank agreed to advance Its terms for
discount, the demand for accommodations was ex-
tremely active, because such event was not con-
sidered improbable. subsequently,, however It
relaxed, and 1t will now no doubt be found that
general mitigation of the pressure will ensue.
There has been rather an extraordinary market
for Engsh securities to-day, for although the quo
tatons have been variable, and at one period were
2s per cent. lower, they closed with buoyancy de.
spite the commercial failures and the advanced
rate OK discount. The spectators, at least the
greater portion, seem to look at each succeeding
phase OF the crisis as Indicative of the near an.
proach of the turning point. Consequently the
transactions to-day, instead of resulting in Der.
msnent decline, produced increased frmness to
wards the close. Every one is aware that as soon
as the recovery begins. prices of both stock and
shares viii rise, and perhaps with rapidty. II the
quotations are steady now, and have remained 40
during the last few days, In the face of sucb an
Overwhelming force of adverse circumstances il ia
argued, and perhaps correctly that as some change
Tor the better canDot be far distant, et improve
ment would at once be justified. 1t is an anomaly
that the Three per Cent Consols shouid be at sS3[
while money in the discount market at the same
moment Is at 10 per cent. but then Ii must not be
forgotten that Consols are fancy article" and
BY no means in good supply. The public for long
.auf hava hnNtr l..r,
others had not effected sales. iu order to increase
their available balances, a much higher range of
prices would have been probably established
Consols for transfer on the 18th inst were SS3L Ia
Sa1s n. and at the termination of the recognized
hours $50 Is. Subsequently, they were sS56 "a.
and for the 7th of December S934 3 being the same
rs at the official close on Saturday.
From London and Liverpool papers to Nov. Ill
SUSPENSIONS, &C., IN EUROPE
In Liverpool two more failures are announced,
the firms being those Of Messrs. Douglas and West
cott, merchants and Shipbrokers and Mr. r.
Byrne who is engaged in the Canadian wood and
shipping trade. Both houses were respectable
The acceptances were returned on Monday of
Messrs. ioge and Williamson, Of Liyerpool CORE
spondents OF William IIoge 4 Co, of New York -
The senior partner was considered to have large
property in America.
We regret to announce that Messrs Ogle & Co.
Of Preston, who have been extensively engaged as
engineers and iron ship builders. have this week
cannot learn with correctness the amount of their
liabilities, but meeting of their creditors will be
heid IN Manchester on Tuesday next, when We
shall learn the exact amount. The stoppage will
throw out of work several hundred hands
The satisfactory intelligence has been received
from Sheffield, that the liabilities of Messrs Nay.
lor 'lekers CO.. instead Of amounting to FL 600.
ooo, as reported in some quarters. do not exceed
ti50o0O or &5O0,DoO. and that no other Arm in the
district Is likely to be brought down by their sus
pension. Some of the principal creditors are in
sweden, and the only reason for delaying till the
2ith instant the meeting at which a precise state
ment will be presented, is in order that representa-
tyes of these parties may be present IL il under.
stood that the stock of iron held by the firm in
America and England is worth f210,00O and that
every debt owing to them in America is of a cha
racter on which any sound aud prudent house
might have implicitly relied. The blow, there
fore, has been one of the most sudden that has
ever fallen on any mercantile establishments and il
is believed that the entire proceedings connected
with it, instead of damaging the future reputation
OF the partners, will add to the confidence hitherto
placed in them.
The suspension Of the firm Of Dennistoun & Co
took place on Saturday. the 7th instant 1t is one
OF the largest firms connected with the American
trade in Great Britain. Their liabilities it is
feared, cannot be much short of f2000,00O. Th Sc
are spread, however. very extensively and IL may
therefore be hoped will not fall on any particular
district with such force to cause further heavy
disasters. Messrs. Denuistoun have houses in New
York and New Orleans, and the almost total cessa.
tion Of remittances from those points has rem
dered their stoppage unavoidable. The head es
tablishment is in Glasgow, where it has existed
upwards OF seventy years, and there are branches
in Liverpool and London. At Mebourne in Aus
tralia they have rs Coz respondents Iessrs. Den
nistoun Brothers Co., bus happily that firm will
not be compromised. The private property of the
partners in real estate and other posses sions is
known to be of great magnitude, and it seems
scarcely possible that even under the worst cir
cumstances their embarrassment can be more than
temporary. Although anxiety has been felt with
regard TO them for several weeks past, their honor
able standing has never for a moment been called
IN question and there will be on all sides dispo-
sition to promote every arrangement that may be
calculated TO hasten The possibility of con- pete
resumption. Suhoned is the circular issued:-
Nov. I've have the painful duty of informing
you that our establishments in this country are
obliged, by the almost entire suspension of their
usual remittances from the United States TO ask
for the payment of their debts. This necessity
has arisen SO recently. out of the monetary crisis
in America, that 1t is not in our power to say i'm
medately what Indulgence we may require. but
while awaiting further adyices from abroad we
will place our books in the hands of well known
accountants in London and Glasgow. with view to
prepare full statements Of our affairs. and We pro
pose calling meeting Of our creditors in London
on the earliest possible day, when We hope to lay
before you such proposition as will meet with
your appreciation.
Our houses Of Dennistoun, Wood Co. of New
York. and A. and J. Dennistoun & Co., of New Or
leans are identical with the houses in Great Bri.
tain, but the house of Dennistoun. Brothers & Co.,
Of Melbourne is distinct establishment.
j. A. DESNIsrouS, of Glasgow.
ALEXANDER DESsIsroUN L Co of Liverpool.
DEssIsTOuS, Cross & Co, of London.
On Monday the suspension was also announced
Of Messrs Bennoch- Twentyman and Rigg, of Lon
don and Manchester, respectable house, largely
engaged in the silk trade agents. Their labili-
ties range from 100000 to G300 900, and their fall
it is said, will probably involve that Of four or i've
firms with whom they are connected in the manu-,
featuring districts.
The causes of the difficulty are stated In the an.
neXed circular:
SO FRIDAY STREET. London, Nov. 9, 1857.
We are requested by our cieuts, Messrs. Ben
noch TweDtynIan kigg. of Wood street, in this
city, and Of Manchester, TO inform yon that, in
Consequence of the heavy advances they have
made upon goods specially prepared for the Ameri
Can and other markets, for which there is no pre-
sent demand Of losses sustained by recent failures
IN the manufacturing districts, and Of the sudden
depreciation in the value of silk Of which Nessrs
Bennoch, Twentyman h Rigg are large holders
they are compelled to announce their inability tC
meet their engagements.
hessrs. harrington, Iadhnry O. Co., Of Kinr
street, accountants, have been instructed by the
principal creditors to examine Messrs. Ben noch 4
Co.'S books and prepare statement of their affairs
which they will submit IN early as possible to =
general meeting Of the creditors, CT which due no
tice will he given 10 vous
REED. L.xrrnRp 4 N,Rsnrv
Another house 70 ln rddcd 20 tho list in that q
Mcssrs. broadway & Barrlsy, Fost India and cnn
eral merchants. Tho liabilities In this cnse are
supposed to reach elSo ocoor f200 0O0. The rnu-c'
of TIN stoppage not stated, hnt it NAV he snr-
posed to be connected With the decline In ail a-ti
cles Of produce.
The letters from Manchester state that tho firm
of McssTs. Godfrey, fattison & Co, calico printers
and merchants, of Manchester and Glasgow, has
failed, with considerable liabilities.
1t is asserted that the bill holders under the es
tsto Of Messrs. Thornton, Higgins, Ward & Co
have agreed to accept the terms proposed at the
previons meeting, and that the powers Of the in.
spectors have been more clearly defined.
The creditors of Messrs. va J. Snmmerskili,
silk manufacturers, hare received an offer Of Is in
the pound, payable by instalments at two and fonr