The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1857-11-23


rate OF interest shall be per under the minimum
rate OF the Bank OF England The London Discount Com
seven days notice. whs, the National Discount Company
decline TO take money at call unless at lower terms and
allow per cent for sums at short notice The older dis
count establishments, 1t is understood, have made al
teration In their rates. and are well supplied with money
SUSPENSIONS, ETC, IN EUROPE.
From London aud Liverpool papers to Nov. IL
In Liverpool two failures announced the irms
being those Of Messrs Douglas and Westcott merchants
and shpbrokers and Mr. A. f. Byrne who engaged in
the Canadian wood and shipping trade Both houses were
respectable.
The acceptances returned on Monday OF Messrs
Hoge and Williamson, riverpool correspondents Of viii
liam ,ge Co.. of New York. The senior partner was
considered 10 have large property in America.
We greet announce that Messrs. Ogc Co., OF Pres
who have been extensively engaged engineers and
iron sLipbuilders have this week suspended ayncnt
and closed their works We cannot learn with correct
the OF their liabilities, buta meeting OF their
creditors will be held in Manchester on Tuesday next,
when shah learn the amount. The stoppage will
throw out Of work several hundred hands.
The satisfactory intelligence has been received from
Sheffield that the liabilities Messrs Naylor, vckers
Co., instead of amounting TO fl 900, as reported in
some quarters exceed f4b0 900 f500 900, and
that other firm in the district IS likely TO be brought
down by their suspension Seine of the principal creditors
sweden and the only for delaying till the
oath instant the meeting at which precise statement will
be presented is in order that Of these par
ties may be present 1t is understood that the stock oi
iron held by the firm in America and England IS worth
f270 000 and that debt owing to them in America
is OF character which any sound and prudent house
might have implicitly relied. The blow, therefore, has
been OF the sudden that has fallen any
mercantile establishment and Is believed that the
tire proceedings connected with ii, se nd OF damaging
the future reputation the par ners will add the
1dence hitherto placed in them.
The suspension of the firm of Dennistoun & Co took
place Saturday, the 7th instant II is Of the larg
est firms connected with the American trade III Great
Britain. Their liabilities, il is feared cannot be much
short Of 81 900 900 These spread however, very
extcnsvey and II may therefore be hoped will not tall
on any particular district with such force to
further heavy disasters Messrs Dennsoun have houses
in New York and New Orleans and the almost total
cessation of remttances ron those points has rendered
their soppage unavoidable The head establishment is ia
Glasgow where has existed upwards Of seventy years,
and there branches in Liverpool and London. At Mel
bourne Australia they have correspondents Messrs
Dennioun others Co. hut happily that arm will not
be compromised The private property OF the partners III
real estate and other possessions known 70 be OF great
magnitude, and scarcely possible that under
the worst circumstances their embarrassment can BE-
than temporary Although anxiety has been felt
with regard TO he for several weeks past their honora
BILE standing has never for moment been called in q1es
ton, and there will be on all sides disposition 10 pro
mote every arrangement that may be calculated 10 hasten
the possibility OF a complete resumption SubJoned Il
the circular Issued
Nov I'VE have painful duty Of informing you that
shmenis In this country obliged by the almost
entire Of heir usual remiances from the United
pay OF helr deb This necessity has
recently out OF he monetary crisis In America that Is not
require but while further advce- from abroad
London and Glasgow, with view prepare full
me1s our affair." and We prgpose calling meeting Of Sa
hope 70 lay before you such proposal as VIII meet with your
Dur bosses of Denuistoun wood Co. of New York and
A. ana % \ Ds"n9a a & g9 Of n" NeT M oEs%ns ~ % sa
Brothers Co, Of Melbourne, is distinct establishment
fNE'fiS 6FSSfsTorS aS's1E 20 of Liverpool
DENNisToUN, GROSS co of London.
On Monday the suspension also announced OF
Messrs. Bennocb, Twentyman and Rgg, OF london ana
Manchester respectable house largely engaged In the
to f3O0o and their fan Il Is said, vii probably In
voive that OF four bye Gfms with whom they
nccted IN the manufacturing districts.
The Of the difficulty stated in the annexed
80 FRIDAY STREET London Nov. o. 1857.
lyman Rgg Wood street, in tls y and of Manchester,
2 inform that in consequence OF the heavy advances
and other markets for which there present de
turing disr = and oi sudden depreciation IL value of
silk Of which Mcsss Bennoh Tweniyman Rigg large
holders they are compelled W announce their inability 10
Nessrs Psrrinron Iadbury Co. Of King street, account
have been instructed by the principal creditors
anime Messss hennoch CO books anil prepare STATE
Mbc 20 general meeting of the creditors OF which duo no
REED, LANaFoRD aARsDES
Another house To be added 70 the list that of Mcssrs
broadway Barclay, East India AMI general merchants
The Liabilities In this supposed 70 reach ESQ 600
f200 600 The Of the stoppage not stted
but may be supposed 10 be connected with the decline
IN all articles Of produce.
The letters from Manchester state that the firm of
Messrs. Godfrey PattsoD Co. calico printers and mer
chants al Manchester and Glasgow has failed with con
1lsasserted that the bill holders under the estate of
Nessry. Thornton, uFgns, Ward Co have agreed a.
cel the terms proposed the previous meeting, and that
the powers Of the inspectors have been more clearly de
hnpd
The creditors of Messrs W a J. summerskIll silk ma.
nufacturers have received an oncr o D IN the pound
payable by nsalmeb two and four months but It has
not been finally adopted Tie unsecured debts amount 10
f5i COO and the asset 10 e. 20
statement ef the affairs uf Messrs J. Miller Co silk
manufacturers shows amount due to creditors Of S 600
and assets fl 500.
m onl, ealure announced to-day lov 1o1
has been nj LIVER the firm being that Of Mcsrs n
Habcock and Co. with houses also al Glasgow and New
York They have been brought down by the absence of
remittanccs their liabilities estimated al about
Goo 600 Al the balance of their books May they
had surplus Of fl5o and, although their property
has suffered depreciation, they feel confident not
only of being able ~ ay fun, but that considerable
will remain ~ them,
The failure Of Mcssrs Henry nuh and Co, also in the
American trade al iAverpSbi, took place Nov. Q.
ln London the stcppage has been announced OF Mcssrs
esJh Foot aud sons silk Manufacturers but the liza
bi,ics are not supposed tn exceed fl000o little
doubt be entertained that the ample
to pay the pound. Annexed Il the circular Issued
Ssrrrst sou .Rr, london, Nov. 10 1857.
is painful duty 70 nforn that owing to the fail
of our LONDON commission agents and ths consequent
necessary % pd our psymen. our books having been
wihsiandng losses, shall BE- able only pay
debeS FOIL ~, - reshse surplus Under these c,rcum
SSsS WIN be prepared BY Mr. ossp ,I r :, GA ySsr'
Al Paris according 10 the letters received eu Monday
the large American house Of John Munro Co. has stop
PED payment
At Amsterdam The failure has taken place Of the mer.
camille house Of Galerkamp Brothers. The amount
asceftalned
rHE WESTERN BANK OF SCOTLAND.
The Western Bank Of Scotland at glasgow suspended
payment on Monday, Nov p, at O'Clock, at which hour
the doors a the bead office and branches The
bank has paid up capital Of fi 600 deposits sup
posed 20 amount 70 $4,000 600 About fortnight bsck
The event considered imminent bu An ant ouncdusut
subsequently made authority 10 the effect the
necessary assistance would be afforded by the other scotch
banks 50 carry through all rs difficulties Within the
last few days the report had been that the winding
The concern was insisted upon condition this all,
that the Western bank resisted and that safety
dngy again uncertain. The bank has about one hunred
branches and has been established Tor twenty i've years
It's leading shareholders are extremely wealthy recent
estimate OF their aggregate property placing the total
five or six Millions and the ultimate payment Of all Iva
bties Is therefore beyond question Whether any nor.
tnn q the naid cnnitn m sarn-I