The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1857-12-08

rates than sellers generally choose 10 accept Some rin
neSooasons were naade at Y per cent.
Inc exchange market fiat and dropping. Ser ing
has rcceded 70 1887 IO4 though in an Exceptional
case higher rate paid for direct remittance Buyers
declined 10 operate unless at further reduc-
uon some hrst class francs sold at ST. 57hc. We
quote sne extreme range down 5f 75c. Sight New
10TH eIi on TO per cent discount at which moderate
swhi u 1ot dons days i've days and ten days
banks are checking At l per cent
The steamship Baltic at this port from Liverpool,
brings us four days later news from Europe. Our
advices from London by this arrival are to November
20, inclusive The financial and commercial intelIi
gence does not possess much interest The London
money market is reported easier. The improvement
is probably in the iac' hat less active demand ex
sted. This Is the ,esult no doubt of the failure Of
30 many extensive borrowers. similar movement
was realized on this side. The slight advance in
consols corresponds with the improvement in our
public securities We look for an easier state of
things IN European finances, but the cause will be
found IN the absence of borrowers, from suspension
in the loss of public confidence, and in the general
reluctance to employ money except in FIRST class
government securities A further advance in con-
soils must follow this feeling in the public mind In
general business we must not expect much move
ment period of stagnaton and depression in
trade must be the consequence of such prostraton
in credits and industry. Quotations for cotton show
a slight decline. with very quiet market. Bread
stufis were little steadier, but inactive.
The London Ne,cs of Nov. 25 says:-
The meeting of the creditors Of Messrs Nayor, Wick
Co held at their Offices at Sheffield yesterday
afternoon There was very numerous attendance most
Of the principal creditors being represented The ba-
lance sheet which had been PREPARED by aeSsrs har
was read. 1t appeared that the assets in Eng
land Were in round numbers, as follows Good
debts $50 900; iron, metals, &c, 600 900; proper
ty, less mortgages, about f24 900 total assets in
England with various smaller items), about flSl 900
Assets America about E407 600 Total assets G5s9-
600 Total liabilities Of the firm in England America and
elsewhere about f370 900 1t thus appears that there
surplus in favor of the firm of about E22oo0 The est
mate had been made rather below than above the mark
The private property Of the partners would show surplus
after meeting all private liabilities, of between co 900 and
ESQ 00O that there would be total surplus Of about
quarter OF amion There are sundry small debts owing
by the firm, all under f200, and amounting in the whole
to abon "a 0o0 These il was determined should be paid
in full Immediately. With respect to the general liabilities
Of the firm proposed, seconded and adopted with
only dssenent that they should all be paid full,
twenty shillings in the poud in the following
Five shipgs in the pound the 18th July, 1885, two
sbings the pound on the 18th October 1885, FIVE sh
lngs in the pound the 18th January 1852 and the
manning five shllngs in tho pound the 18th Of April,
1852 The accepances OF the firm TO be given to the
creditors Immediately in the proportions, and payable at
the dates, above specified BY this arrangement the
creditors will Immediately receive the whole amount of
their claims in bills. gentleman who represented tho
Bank Of Liverpool large creditor suggested that com
mtee Of consultation should be appointed to advise upon
the realization Of the assets and TO inspect the affairs OF
the firm from time to time, but this proposition not
seconded, and it therefore fell to the ground.
The Glasgow Mail of Nov "a SAYS
by the statements submitted to recent meetings OF
dors, the following deficiencies, liabilities assets
shown:John Monteh Co., liabilities in excess Of
tho assets, f430 900; u. J. Macdonald, do, EI 900;
Godfrey, Pattison Co., do f240 O00 William Smith
Co, do f104 000 j. Inches Robertson Co., do f5 900
Total FL 1872 000 appears from this statement that
the bankrupt own showing 81 600 have been lost to
the creditors Of five houses.
The Glasgow Herald states that the extensive firm
of Il. f. Batook & Co., which has u branch in that
city, and which recently suspended has resumed pay
ment.
Several very heavy failures are reported by this
arrival the details of which will be found in another
column.
case of considerable importance to railroad
shareholders has been decided in the English Court
of Chancery. The preference shareholders in the
Great Northern Railroad Company brought a suit
against the company, in which they maintained that
preference stock carried fixed rate of interest to
be paid in full before the ordinary shareholders
could claim any dividend whatever. Judgment was
given in favor of the preference shareholders. The
litigation in the case was caused by the Redpath
frauds.