The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1857-12-15
THE MONEY CRISIS.
Improvement I'm the London and Paris Mar
kets-Bank Of England Returns.

For the 7th of December the last price was 9Oss 10
After regular hours there again rise OF an eghtn
The account fixed for the sh OF January and trans
actions for that peroi took place at OIL or 80 exdiv
dend Bank stock closed at 214 10 2l6 Reduced Ssh TO
81 and Three per Cents SEA TO a. In India stock
there recovery of per cent owing TO the favorable
news Just received the final quotation 2l6 to 2S
India bonds left of at 40s TO 30s discount and xchequer
In the Stock Exchange to day there was no inquiry for
money aud loans government securities were freely
offered ut per cent At the Bank there was full, but
not increased demand and in the discount market the
return of better feeling evidenced by the greater
with which paper beyond three months date can be ne
| gotiated.
closed at advance The market generally showed
| increased brmness.
the Paris Boursc this evening wcr, OF 4oc for money
and 6 30c for the end Of the month showing further
advance of quarter per cent
Gold in moderate quantities continues TO flow into the
Bank. About ESQ 900 taken bore to-day, OF which
more than half was French and Russian.
further amount Of about f200 900 IN gold s now on S
The Northumberland and Durham District Bank have
not made the slightest communication TO day 70 their Lon
don agents Up to yesterday afternoon the dishonor Of
their draughs here does not to have been generally
known at Newcastle and the offices OF the bank are under
stood 10 have been kept usual The idea OF any
possible restoration Of the seems to be considered
wholly out of the question: and the prevalent opinion as
TO the state OF affairs that will be disclosed whenever
thorough investigation is made is very discouragng Ap
parently however, doubt need be entertained as to
sons being included in the propreary si il seems
that the total number OF about 400 less than III
unmarried women and widows Like the western OF
Scotland the bank had been in difficulties before and had
received large aid from the Bank Of England in ls47
The rates Of the Bank Of France which were raised on
according tho period Of maturity have to-day been put
back per cent For the future therefore, they will be
per cent for bills not having more than 80 days to rum
per those under 60 days per for those
between 60 and 90 days Ever since the advance from
~ per cent the applications understood have greatly
diminished and the bullion which has lately taken ia
vorabc turn continues to augment Hence although the
step rather premature hope may be entertained
that IL will not lead 20 a renewal OF difficulty.
meeting held this morning of the creditors OF
Messrs Edwards and Matthe who failed tho nth inst,
with large engagements in the colonial produce trade but
there appears TO be desire 70 conceal the facts Of tho
case, and particulars have been obtained II is said,
however that resolution was adopted TO wind up under
inspection Al the time OF suspension the liabilities Of the
firm rumored TO amount TO f30o00o or f400 900,
and they were alleged to have obtained large advances on
warrants.
There have been further failures in London today
and efforts are still being made TO resusctac one orwo OF
the houses connected with the trade OF the north Of Europe
which have lately suspended.
circular announces another dividend the estate of
Messrs Reid Irving Co., who failed during the crisis Of
ls47.
On the day of the stoppage of the Liverpool Borough
Bank several respectable firms had their credit damaged
by their accepances being protested owing the London
agents OF the bank having refused although the
funds 10 meet them had actually been paid into the bank
in due One is especially complained Of that
Of Mr. George Kerford who had acceptance noted
london at the very time when the Borough Bank had
debited him in his passbook for the payment OF H. Tho
bill upon It's return was, Of course met forthwith by tho
accepor but any rreguarty q, the London clearing
house is noticed and registered by the various bankers,
unless explained at the time the annoyance from such
| circumstance IL not easily remeded
| fFrom the london Times (City Artcle) Nov 2s.l
Although at the present moment the amount OF cir
total authorized by the act OF 1874 will be by the
turn was made up on wednesday there was am Outstanding
excess OF fs1 60 is 10 b. remarked, moreover, thar,
strictly sdkng there Is SUI an ringeHe 20 e original
amount of e. Ooo II only by treating the
Of 81 els $40 held in the banking department
not public issue, that the idea created Of the over
h.x ha.n Ittt
issue any of the notes held in the till Of any Of the
other banks Of the country: The Bank Of England
bank has more TO do with the operations Of the issue
department than any private individual II has only
20 attend To its own wants and 10 keep an adequate
ns liabilities BY coufoundpg the operations q the two
departments the public arc liable 10 be led into great
uson and Is much TO be desired that separation should
henceiorth be contryed TO render them distinct
in appearance they are in reality
The funds day have again shown extreme buoyancy,
Consols for money which LEFT yesterday eo v
first quoted eo7. 10 o. They then rcccdcd TO eo
subsequently remained for at sos to gi
In the afternoon there was general position 20 buy
aud rapid movement took place 10 OIL VI o u from which
there was no reaction the market closing with very arm
appearance For the account the sth Of January the
lasprico was 9 70 u v04 To u ex dividend. Bank
stock left at 24 70 za and reduced and three per
cents g0i 70 a. India stock In increased demand
owing 10 the announcement that the government hence
forth to be exctively In the hands Of the crown, and
10 sos dscosnt and Exchequer bills S. discount par
the latter being largely bought by persons having money
H aed that ne eoa~rn~.e~ y-u No, bring forward any
financial measures Sid Fsbvtary All 7u>siiops regard
ING funding f Erchequr blis, oas in any shape,
| are therefore for The pveseni sd al rest
In the stock Exchange money sim sbundantiy offered
at per cent Al the bank there lees demand than
yesterday although the applications continue heavy In
the discount market the tendency to restoration of
ndence which checked by tho failure Of tho North
umberland and Durham District Rank, again manifest
ing itself and the absence further suspensions Lon
coupled with the hope Of resumption part Of
or two Of tho houses that have lately stopped,
ff4tn a
Foreign stocks have been moderate demand hut tho
market continues bucyani and nearly every transacton
In the foreign exchanges this afternoon the business
transacted was not very extensive, and the rates gene
rally we've about the same ss sst post.
The influx Of gold At the bank steadily continues and
further total q Gao 600, consisting chiefly of Turkish,
Soversisns from Scotland and elsewhere also in
gradually.
The 1nal quotations OF the French three per cents on
the Paris Bourse this evening 6Tf 2cc for money
and 6T ioc for tho end Of the month, showing reaction
from the Improvement Of quarter per cent which took
The Hamburg letters today mention the failure Of
Messrs Levin Heris sohne, very old and respectable
The return from tho Bank OF Engand Tor the week end
ing the 25h Of November gives tho following results when
SSps,sa sns Sss w,s the proySrs sss Increase ssOs ~
Other deposits. esl BIC Increase. eg2S5l
Rest. :,;...;. stl1l7s Increase. la,o7s
Government securities fb so7 @ Decrease. f5qa 6sT
Other securities. 81 So,TlT Increase. 1851 al
Notes unemployed. l,els,sao Increase. T7o655
Tho Of notes in circulation IL f2i 80 305 being
decrease Of fo6,lo5 and the stock Of bullion In ootn
departments 81 2e3 o2 showing an increase Of fTT9516
when compared with the preceding return.
The bank has sold nearly f6oo 900 Of government
securities. The private securities nov amount " f3l'
3b07l7 the increase which nearly balanced BY the
addition made TO the private deposits on the other aide OF
the account
Meetings held OF creditors Of Messrs. T. nd
Co. Of Derby, and Mr. John Taylor Of Coventry houes
connected with Messrs Bcnnoch Co, and whose failure
hd been brought about by the causes, when SINH
lar ordered 70 be pursued AZ IN the case OF
Messrs. Beanoch. The liabilities OF the two firms are
stated 70 be ga ,o43 and fil ,413 respectively.
The North British Daily Mail announces the failure at
Glasgow OF Mr. A. Cxickshank, Of Brdgend Corn mills
for about fs ooo and OF the firm Of J. j. Wright cot
ton brokers' II Is feared that in the latter the la
bilites considerable
meeting OF creditors Of Messrs Bennoch, Twentyman
Rieg silk agents, whosc suspension announced on
the 9TH inst, was held today Mr. Parrngon stated nai