New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1857-12-05

hOrde. He GtT
the hsno, Of Committee. and thai each gentsuia
present should put down his name for the amount ne
vas wiling u subscribe.
Mr.. De Sails moved resolIton 20 the Ell sct Da'
he meeting hsd perfect confidence 10 the in'I4nsc
value Of the undertaking, which they believed night
be made BY judcious application OF Dcres.e1 csPthi
10 satisfy al creditors arc yield fair return 70 'he
shareholders. The Directors bsd been ooIged u con
sequence Of the monetary dill :ulties N Anencs -
execute mortgage containing q power on sale "Iicn
would override ever poeteror interest. IL Sas neces-
ssIy for them TO consider whether they couI1 az
good for Themselves by h.lPios the company. ne
wac informed that the Epe wee ~ mics IN ioos
and commanded he che! to the portaa maroon
Of New-York aid tina, II passed through some Of
the fuest districts IN the ULcn for trafc Ice coo.
Of the lire wss about So 500 VU. Inc sum OF
$4,000 600 was secured uyon the hist' scout
and third mortgages; sll ,o0O,VVO wee C'nIlo-
tied by unsecured bononoGers S2WO,VUV "-fe
due il floating oeb:; ara 81 ,wo UOo had Oesh
advanced BY the Ordinary tharenoiaeIs. Lhie ,s
the In, hsI shareholders and bon holoers VOLS
agree 10 asst ths new ectOn ia the way proposed,
about So go 100 Of unsecured snare capital would be
ssclic.d From the yesG 1911 TO me present tne ne
found the traffic had progressively 1oease1' anu
was reasonable 10 suppose II w0uld commune W IN
ere .se The net earnings in 1870, aeI deIoc lng al
reference and other charges amounted 10 I'D wv,
which equal 70 ii r cent upon the $Il oVO"Vot
ordinary capital. lie thought II necessary 70 app2n,
committee, ard that an agency should oe es'son;hed
n this country where autheLIlc ILioiDaIoh cDuIl DC
obtained he to the proceeding Of the Company Ine
directors should be strictly prob oIted III iature non
creating floating debt sucl az had been cone, aaa
which was really the cause u ali ms dihicuitles
under which the Company were st present IaoOn'g.
The difficulties had Resulted entirely nom the o4d
management Of the former cire tJs de ha1 no
doubt the present directors would listen 10 any pro-
posals which would make su6soriPtohs eonaitionsi
upon carrying out those suggestions with view to
several shareholders expressed their dsapprobston
Of the System adopted BY the directors OF executing
mortgages without consulting the shaEeno!cers, ara
thought they ought not in fuure 10 accept bills on ac'
couII OF the Ca log debt IT had Involved The Con-
IaJy III the plesent Difficulty. .
Nj Parson. said If they advanced the money i.
should be express cJnoltlons winch should gua'1
the pJoIretOrs agsnst the possibility Ut any snllsr
difficulty II The COMMITTEE 10 settle the terms
ard conditions OF the he would make con-
dition that not shilling Of the money should %
hsrdeo to the directors until eli the
Of the bon dboloers were complied Win. de MAD
every respect tor the President but bic experience 10
railways had taught him that II was unsss t. trust
any railway board.
After some further obssrYa.iors the resol 4On WAS
adopted.
Messrs De Sails, Comp5ell, Hessel'ine, Gowsn,
Watkins aLo three other gentlemen we're appointed
Committee TO invite subscriptions, ana TO negotiate
with the Directors.
proceedings.
From. The london Tines, Nor 10.
The applications III the Bank OF Eagand Tor dis.
failures has sgan been seriously extended; but tie
public have aUuncaBt supplies Oi moLey Tor lnVseI-
nent, ana the FUNDS chow undnnnlshed nfmneas.
Consos FOL money, which advanced sitter hours
last evening TO So =, were nfst quoted o95 !,
whence they improved 10 So al. Ultimately, a.
thou quotations sgl 81 a. for money aud 80 Tor
the nh Of December the ma1SeI presented very goa sPpe
There particular pressure Tor oans on So.ia
~, :egsIf a sn a r; Gar I RsGee s NV fRs
C,I India stecH, Il G2l4 ndia boss u dJ' els
{ mt; and Exchequ,r Bills H al discount. ,,
The demand :. ire Bank to-day extraordinary heavy
but II must remembered that the thus obtained are
PAID ssLAs with whom the d'coaneFt keep
sc GUMS auo that a: the day thee, nks tn-
Bank England, that unoer certain ie
WHOM, II. staining a5y uj,nais
ton IL only when notes or soid are drawn ou
eApora' that the r..oaIes Of 70. Ssaa OF En-
udng Tie Iun IN scolaId apprafs 20 nave ehl,., ,h
a. further total lOOO5 sOseresis was received lhelcc
that Il Dol houtnt aAi sGai.on wa % u ne ,
a1'scy l.; Here In tni, eolty ne w 'u5
70 some Increased precautions tne part u local establish
eIt, beneyed That ID most cafe. snPie provision
.nerg-uc!es hss been mace for weeks past
IN .,elv liked but we a. brr,anins to 10Y
Of ,ueh srriyas a. tase pace To ship
sute account by tee packet Of ne -bA hseal
throughput greater part the year VIII De only t61,o
m,si~ le gold siSs rom Austrs. aod '.,a ia,
found thin way tooay 70 The Bsnf sad ron oo'n sus
t.rs further amounts Ne immediately expected From
N,s.loik Gso, ii Is thought, renEtsnee' va Ne"
st.pruoon has brought moderate sum, and the reths
otd Tor on s.uiSy Mn o.. nav be
1.pe The pablo mind 10 tIe almost tAl nprac;c.
9y 81 , .5drn tbs.Ss Of to- cies htaero rect
e,.y granted by OF the discount houses INA
esd 10 ncslcusb- extension OF the prevailing mischief
If tho neat lew Gays slold pas --nOul sy Loan e.s
unexpected magnitude there vi" De soLhd y ''us' '-A
Dur. he dsy TIE 5bsbty discussed OF farther sd
the Bank rate OF discount Tomorrow" OH ne .''0 A
val iminish the prospect OF 'acA a"ep
From Ihe London TINE, Nor, 70 -,
In all mercantile quarters there has been decided
smf pdpent to-day Not single failure has been re-
,rted and some special causes OF Anxiety laely prev
Alert have been entirely removed. The STOCK market
opeped with frmness al The pnces oil ast evening;
tone was al ae close Conso- for money were
tr quoted 81 TO whence, OWN: to an impression eAi
Their the Of discount might DC contemplated
Bank where the Court ed not break Up anl Ae
houI, Decline occurred TO ~ 70 fina,, Gpon m'
again enteed into ~ 81 70 Tor money and % Tor
b[usht some stock upon market morning bat
pubc gel eIsy showed disposition 20 conLue tneit III
demand At 10 y cent, Bank left OF .2 70 IA Re-
duoed sS New Three Per Cents sS 20 Ii India Stock,
22 10 24 rdis Bonds s to 3s discounts AM ExchelUer
Bills los. l0s discount.
Understood that sSic,ion which has been made
Bank Of England for .ss sds,nef on securities s;hed
and that all the accommodation required Will Dc fa-y
granted A., A., 80
Despite incre asDg gloon IN the commercial world,
the Fuhds retain great hrmne AT one period VI the
dey owing TO the announcement OF more satisfactory
ieigence from New-YOrk, an Improvement Of E
cent was attained. In the afternoon more duness was
Observable, ard the closing quotations were e cent
below those Of yesterday. Inis was chiefly owing to
an creased demsrd for money in the Stock Exchange
CONSEQUENT upon the delivering today Of the further large
amount. sold day By the BAk OF England
much 10 Y cent snnum vas PAID in the stock Eten.nge
for loans Consos until the December settlement Is
stated hst the Bank day Effected farther sales OF stock
bsrt portion the Consdering the m.yni
de Of the bona foe osnkg account the arm
the funds e1ctes surprise in many quarters must be
however that the the dstrust In
o and monetary ces the tempting IL the security OF
IN, Brt.h pei Cents The public continue - inves'
A., adiy the waen the price Of Conso 10 be-
low So The approach Of the dividend period also tends
mort the market that thr providing q money for the
service OF the Indian Government wal the first
Parlia