The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1857-11-14

GooDLIFrE sMARr's CIRCULAR.
LONDON, Oct. % 1887.
Bad as were anticipatons OF the prospects Of trade
at the date OF last report regret the course
Of events has proved even than could have been
foreseen. The disastrous state OF things in America ID
being severely felt here though happy TO say
as yet few important failures have taken place yet great
nneasness exists and the general object TO be TO
limit and not TO extend business. Chsrtering operations
are necessarily most crcumscrbcd, and II We exclude
Fast indies might say without exaggeration that tho
present moment is one OF almost unexamped depression
for shipping.
The severity Of the present monetary crisis is felt
haps, more acutely the Mediterranean and Black Sea
trades than in most Others from the number Of vessels
usuay finding occupation in this quarter Low asreghts
have found it most difficult conclude bust
would have been useless have further reduced
rates il Is the absence OF demand that experienced
sToLTERFoHT, FROST AND co.'s CIRCULAR.
The week has been productive OF various interesting
events Advices from New York 10 the 18th instant dis
PEELED the fear that further shipments of bullion would
have to be made the United States this and the fall OF
Delhi (Which learned with the utmost satisfactory
gave cheerful community; but il was
counteraced by suspension Borough Bank
with paid up capital Of million and deposits to the like
amount After protracted and anxious suspense during
the negotiations with the Bank OF England for assistance,
appears now to be final stoppage and the nconve-
many parties will be OF the most serious nature
Several failures have already occurred and others appear
to be unavoidable bank in Scotland also reported to
be in troubles but positively asserted that that inst-
tuition has been assisted The money market in London
has improved upon the American and Fast Indian aavices
but the produce markets have become extremely mac
tive The rate Of per cent discounts begins to weigh
heavily upon these which have become very sensitive at
the present high prices and holders Of goods anxious
to make sales, at considerable sacrifices, without
finding buyers.
THE CRISIS IN FRANCE.
The Paris letters that the idea of SUSPENSION
Of specie payments ~ the Bank Of France finds
influential advocates who determined to urge it
strongly preference unlimited rise in the Of
discount should affairs get worse The question alleged
to have been discussed at sitting OF the bank Ex
ccpt y remedy for internal and uncomfortable panic,
when it is demanded temporary protection for the
majority against the minority the step would be Of each
fragrant dishonesty that il may be hoped II will be sum
mary discarded The government it is said arc deter
mined not to sanction IT, At present. so far from there
being serious press the best paper can be nego
tiaed at half per cent below the bank rate OF ~
cent The movement the subject therefore, may OBJ
vousy be attributed the hopes of ignorant spectators
on the Bourse.
PARIS, Oct 29-2P M-There has been great steadiness
in rente and other securities spectators hoping that the
Bank Of England would reduce its rate OF interest before
the end of next week Threes have been done at from
66f Soc 10 66f 90c Mobier, 775 to 1901; Austrian,
670f 672 5Oc Orleans, 295f ,3O5f Lyons s30f
to S35f Northern, S70f TO S75f Southern in great de-
mand at 537f soc. to 542f 3Oc
HAIF-PAsT THRM-The market continued firm to the