The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1857-12-31

Letters from Marscilcs mention the failure of Rail-
Apaleyra, in the corn trade, for f2soooO.
Messrs. H. & NJ Toldorph Co., SWEDISH merchants in
London, but the amount Of their liabilities has not trans
pred.
Hamburg adviccs contradict the failure recently report
ed Of NJ Gc6ruder Kslkmann. The house have notified
their readess TO pay all acceances advance up to the
In relation the stoppase Of Messrs Draper
Pieroni & Co. whica place last month"; the following
has been received from the Transatlantic Steam Company
with waon the firm seem TO have disputed account
each party, usual such cases beng positive that
the other Is altogether III the wrong
LONDON, Dec u, 1887.
serted circular Of MessIs Draper Petron G annouuc.
ing their suspensicn The Directors of Of the sransatanc M
clare tina what by Messrs Draper pietron Co.
as their wn the company is gro,n,ess;
and further that This cannot possibly hays caused
Attorney for the Transatlantic Company, Genoa
the Times of yesterday the failure announced of
old worn out concern, called the Worcester Bank,
Farley Lavender o. II had small circulation Of notes,
AL of which purport to be convertible at par The hold
ers however find the doors Of the establishment ciosed
and are in much dsquetude of mind. 1t be great
charity convince them by ample, complete and rrefa
table evidence that their property has not become depre
cated Perhaps the only way 70 DO 50 would De by buy
ing the OF them at the rate OF 20s the pound
win Nr Disraeh Of the professors of the school
he has joined, seize the opportunity to give tangible il
lustration OF the sincerity OF their 0nyic0ns?
The City Of Glasgow Bank have obtained the fun assis
anoe necessary enable them to reopen and will there
fore TO apply the Bank Of England. The West
Bank have formally notied that they cannot resume
business.
Borough
made a call Of f5 per share
The railway market rather depressed in the early
part of the day but recovered towards the close Anne
rican securities were little dealt in, and show signs
Of recovery from the present depression In Canada
government bonds the late advance was fully main
tanned.
From the London Times (City Artice) Dec. AL
The English funds opened this morning at improve
ment Of an eighth upon the prices Of saturday but the
mark ct without animation and decline took place of
about three eghths per cent from which there only
partial recovery. Consols were frst quoted 81 9l
Is.fIn n.A thar1 tI,y IN
which the last official quotation After regular hours
some bargains effected at 81 "a 9lsa The stagna
ton of trade in the provinces necessatng Withdrawals
from the savings banks and of the sales which de-
pressed the market TO day that account At the
time purchases the part of the public have been
checked by the recent advance which has also tempted
the spectators to realize. Under the circumstances,
therefore, slight reaction is easily explained On the
other hand permanent fall be looked for in the face
Of the gold arrivals taking place. and which likely
The final quotations of the French three per cents ON
the Paris Bourse, this evening 66f SOC. for money,
and 66 roc for the end of the month showing aera
About 1850 900 of gold principally Australian has been
sold TO the bank to-day The Niagara from Boston, has
brought f16oooo, and the Tagus, from the Peninsula,
fl0,s70
The suspension has been announced of Messrs. Rev,
Prescott Co. the chief and most respectable house in
Lndon connected with the Swedish trade Their habli-
ties, which have recently been much reduced est
mated at about f1500e0 Of which ESQ 600 accep
tances large number Of the bills remtted to them by
their correspondents have been on firms here which
bave lately failed and during the last week there
has been total cessation Of remittanccs in any
shape. The prospects Of liquidation believed be
satisfactory but they will OF course greatly depend on
the sums TO be collected from suspen led paper Mr..
Prescott was no longer in the firm, although hs name
continued in IT, He died about years back after
having some time previously been Governor of the Bank
VI England.
Wiley and Co. extensive silk MERGERS.
The bills have also been returned Of Messrs s c. lis
ter 4 Co, large wooIen merchants, at Halifax. The
amount of their liabilities Is believed u be very heavy
but some expectations seem TO be entertained that
arrangement of their difficulties may he found practca
BILE The firm are said 20 possess valuable property in
royalties from patents, &c. There is similar house at
Bradford but this does not appear TO be compromised
II is said hopes entertained that Messrs Hene, Sc
mon Co. who stopped on Friday for s100 600, may find
practicable to resume.
meeting of creditors ef Messrs Hoare, Buxton Co
whose suspension announced on the 18th ult,
held this afternoon. The liabilities underwriting
count estimated at about f5 0O0-an amount which
may be exceeded Of any unfortunate loss; and
the other side OF the account the private property of the
dend will depend upon the total realized from the doubt
fl debtors, calculated at f56 l37 and the item immediate
iy following, Eie,25s. Upon these two sums may
result surplus deficiency Of f20 900 from their
estimated value. II is believed that any the
assets will reach E1l90 900, which will give dividend
about 9s. in the pound. Mr. Coleman stated that the
day of suspension the accounts showed surplus OF
f54 o0 that in his opinion then the stoppage should not
have taken place. and that he had endeavored carry
arrangement for the assistance Of the firm Large
rcmances promised from sweden, but IN the inte
rim Carr Josling Co failed and il wa the impression
ef four eminent mercantile who consulted that
il necessary the latter house should also be rensated
This recommendation proved mpractcable The failure
has wholly from the commercial msfortunes OF
the last month in Sweden; there have been irregu
lar transactions nsr any in the partners draw
ngs the whole or greater part OF the debts due TO the
rm paid the creditors would get 20s IN the pound.
The business connections OF the rm considered TO
be Of the highest rcspectabiy. was further stated
that by the end OF February sufficient will be realized 10
pay 3 Id In the pound provided the liabilities do not
exceed the present estimate and that the whole or the
assets be defined at that period essrs Hoare, Bux
ton Co will be prepared TO give their notes OF hand at
fixed dates. In the meantime the tirm not in posi-
ton to make any proposal II finally resolved TO
wind M the estate under inspection, and committee Of
creditors appointed.
In the recent instance of murder and suicide Croy
don by clerk the service of the Bank OF England, IL
appears that the young man had previously sustained
losses from specuatonr which had been carried for
him by broker in the Stock Exchange.
The scarcity and high price Of silver have checked
considerable extent the shipments the East no!wth,
standing the unfayorabe alteration in the exchanges Il
is doubtful II the East India Company viii be able 10 OBJ
tain sufficient supply 10 export their final quarter Of
million by the packet n the goth.
Prom the paragraph yesterday regarding the losses
which led 10 the necessity OF liquidation the part Of
Mcssrs Montoya Saenz Co.. persons have inferred
that the house suffered very heavily from the soppage of
their brokers Messrs Rucker Sons but their losses
that occasion were comparatively small
The annexed relates 70 the affairs cf Messrs Draper,
q TnRoc.oRroS STREET. Dec. H. 1857.
m s.hsferSs % 2 the letter in the city article e The TIM.
Company Genoa being unwilling 10 occupy your co.
prapsr wS Prso c G ess e ] a. sshs % ass %
which win be submitted meeting their credtors called
marks circular lth of November referred 10
In Mr. Dsneri's letter, unfounded not
HENRY X. HILL.
solicitor for Messrs Draper. Pietroui a Co.
Prom the Ion ion Tines (Cty Articlo) Dec Ia.
The quotation Of gold at Paris is about per mile pre-
mum and the short exchange london s 25 10 per E
sterling On comparing these rates with the English
price of f3 7s 0t,d per ounce for standard gold ap
pears that gold about 2lons per cent dearer Lon.
don than In Paris.
AZ Hamburg owing 10 the commercial arrangements.
foreign exchange quotations have been published.
The quotation Of the exchange at New York on London
GTFh He AaN grhf ula E-Ma
class paper Al the OF discount here there Is
consequently no profit on the Transmission OF gold from
this country 10 the United States.
The English funds have been duh throughout the day
Cons0s which after regular hours yesterday left on al
e1L aq1 81, opened at "a 4 ~ y, aud remained without
the slightest alteration to the Official close Subsequently,
there was better tendency, and transactions took place
atqlS
In the Stock Exchange loans government securities
obtanable al per cent for short periods and at
per cent till the dividends. AZ the bank there still
active demand, but in the open market the choicest bills