New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1858-02-10

5000 Mem phis City c. in' s'ied ~
1900 Wssrto~n City wis e. int sdded ...''.;;',
5000 Chicago and Mississippi RR I'd me eonds mt aided :,
5000 e~.Jer'ey Central RI 7 int added %
10 ssares Hanover Bank
20 shares Marine -
10 share. Commonwealth Bank 81
10 shares Metropolitan FIR Insurance Company ''''''"W
50 shares La Cross and Milwaukee Railroad ~
IS shares Pscihc Mail Steamship Company
The Metropolitan Bank now receives on deposit, at
one quarter Of one y cent, the notes of all the New
Jersey banks with the exception OF the following:
Artisan Trenton American Trenton; Bank OF Trade,
Melville.
We annex letter addressed by Mr.. George Peabody
to the editor of The Daily Times. II is rather re-
production 10 appear at this late day and the
concluding portion of the last paragraph but one
especially has created great surprise here in circles
best informed upon the matter alluded to-
To tie Editor eftheN Y. Tiae.
SIR: In Times, dated late in December, you state
as follows:
We ne informed authority whose accuracy have every
e.sop credit that the amount Of bills which the house OF Pes
body Co. under acceptance for when assistance was 90
from the Bank Of England exceeded the almost nconceV
able Of six millions sterling" o.. -
With few exceptions have observed with much
pleasure that the my house pursued under the
pecuniary pressure brought upon them by the panic
in the United States, and the inability OF American
friends TO fulfill engagements, has been much COM
mended by the American press, and more sympathy
than blame has been awarded to myself and partners
for adopting a course which not only protected our
credit but saved many of cur CORES pondents IN
the United States from consequences that would nave
been considered q calamity throughout the whole
country. - "
The Responsibility of your journal and the high
credit you give TO your ntormer in the article quoted
il calculated to do great injury TO my house ana 70
American credit generally for If the acceptances OF
nv firm had amounted to six millions sterling, az
you state it would have been but just 10 place 1t IN
the same rank with the Borough Bank OF Liverpool,
and Ores Western of Scotland, and myself and part
pronounced a. unworthy OF confidence LOT the
future. TIE facts are as follows:
About the Goth November, when the money panic
in the United States and Europe was raging, and an
ticpated commercial difficulties were still more apPal
ing my house considered it wise and prudent to ADOPT
course which would eectually protect its own credit
and many correspondents, who were unable 10
meet engagements by remittance from inconvenience
and loss. The scceptances of my house at that time
f2 300 600 mot f6 900 OOO, and our application
10 the bank for lOan on good securities, for
fS00,000, should 80 much be required. The apphcs-
ton acceded 10, and within few weeks after we
took 1900 900, deposting securities OF our own ior the
same. Up to this time we had taken no more than
the $500 OO0 although the securities deposited amount
Ia much larger sum, and since that time my house
has paid more than IL 5OO,OGO OF the t2,ooo,VV az
ceptances out stated, at the time of its application
tothe banks. We will further remark that the strength
of our principal correspondents is such that our losses
on the acceptsnces above stated given on their ac-
count will comparatively, be but tritlng.
In Justice to my house, and 10 American credt gen
orally think the facts stated should be known TO the
American public and they at your sevce for that
purpose.
Very respectfully and truly, &c, ~, ,,onv
London, Jan. Il, 1853. GEOhGE fEabopi'
Mr.. Wrghts Circular for the steamer gives the an
nexed statistics:
CRoP-Tbe from the South generally believed
In is 800 600 bales and think this may be considered IS te
governing figure for crop by all classes of buyers IN the oou
Here, also, there disposition to down and
perhaps few look for than 900 bales give these
views most generally entertained OF course there are xce
tons and few parties adhere TO their estimates formed
about LIST December last.
REeEsTs for the week under review bales against
1000 bales in the corresponding week t The dehcnc
which last week stood 900 bales IL reduced 70 oSU
bales and know by telegraph of an increase OF 2SV bales
at New Orleans for the table Of next week further reduction
will appear in circular The receipts at all points are
free the advance obtained in the last few weeksn sats
factory the majority Of planters who now more wlhs
sellers The will improve with fine weather aud we must
look for several weeks Of larger arrivals
EXPORTS for the moderate and at last the toa snow"
compared with The amount tor Great
Britain only $1,000 bales and likely 70 be moderate Tor he
week but $4,000 bales reported from Ne"O
leans cleared during the ending the 5h INST On e
6ib however 10000 bales cleared tor Great bNAn guy
these exports will appear In the New York statements un
the The France and the Continent Keep up
remarkably well the importers In both determined 70 Sc
their quota the while the qualities suited 70 ne
ants can be had.
The following statement OF the movement In cotton since
NIB previous