The independent press. (Abbeville C.H., S.C.) 1853-1860, 1859-06-17
HOUSE OF FlhSEP s. Co.

The following wh-I, We copy from the Char
Icslcn E'Cn;"4 Ntca OF the 9th, viii be read
with satisfaction:
"SvSpi:SSIhS-Ihc following appears In a
paper North Of us
"EuMoEEn Sv.rEHs:ov il confidently
stated here that the house Of John Fraser &
CO., at Charleston, suspended TN Saturday last, !
in consequence Of the difficulty Of negotiating |
sterling exchange. The assets are superabund
ant and it is believed the suspension will be
temporary.
"Ihe large cotton house here referred to has
done an immense lusiness. and by its enter
prise has contributed largely to the business
prosperity of Charleston 1t is gratifying to
us to express the conviction that all lis linbili
ties will lie met in full. Mr.. George A. Trcn-
holm, the head of the house. left yesterday for
Liverpool, to arrnpge the affairs Of the branch
there. All is right here"
The Richmond Despatch Of the same date says:
PRESUMPTION OF PAyxEsr.-The house Of
Fraser, Trenholm g. Co., Charleston. S. c.. has
been already enabled to resume payments, the
banks of that city having aided them to the ex
tent Of over a million of dollars. The banks
likewise agreed to protect the cotton held by
them in Liverpool until Nov eInber.'
The Charleston Carrier comments thus on
the disaster, which has befallen the house:
In age the house "utranks by many years any
in this city, and challenges comparison with
any the Continent. In the character Of ita
transactions as house. and in the character Of
its individual NJ. mbership, established by
long experience, and by traditional and vel
improved prestige the house of John Fraser d
Co. asserted and maintained reputation not
TO be measured by pecuniary capital.
In the temporary disaster which is now an
nounced, it is the greatest satisfaction to a hos
Of friends. that this moral capital Of this o''
and honored hou.e is not only untarnished bu
unquestioDed and unsuspected
We shnl not obtrude comments or aympa
thies, but deem it proper to refer to the report
above quoted, add our testimony to their sui
ttantial accuracy. The amount of capital en-
ployed by the house Is over stated in tho re
ports mentioned BY the Journal Of Commerc
hut the character and relative resources Of tt
house are not ovcrrated in any respect.
The course and conduct of our banks hay
added strong and unusual confirmation to II
testimonials above mentioned. and to the &c
eral tenders and uttern nces Of confidence, ar
were We disposed to abandon our original j
tention go far as TO go into full details We con
relate instances of manly, noble and mutu
confidence which alleviate and almost reco
Pense the sad afiiction of this eclipse.
1t is only necessary to add. that the indivi
ual members have not sought or consult
legal or technical liabilities. but kave(ac
all their property and possessions of any XII
at the nse and relief of the house, and all {
indusiriously engaged in improving and app
log the assets.
The presiding partner, George A. Trenho
Esq, who has been irst and foremost in mn
noble enterprises and efforts even beyond
uasycantle relation, left US OF Wednesday,
the steamship Marion, for New York, and
procured thence 10 Liverpool, to suggest. O
and assist g. each place all efforts needed
secure all rights. claims and interest, dire'
or indirectly affected.
We repeat the assurances above given,
confidently state not simply our wish. but
conviction. that the suspension will be 70
but temporary. and we anticipate with ..
g pleasure the privilege Of reporting, at an e
day. confirmation of this opinion.
The attendance Of friends at the wharf
vious to Mr.. Trenholm's departure, was j
selsf tribute snd token of ge neral. cordial
confident regard, which placed him aud
a. house almost 10 an enviabls position.
ssssSsszs. The Liverpool house OF Fraser, Trephol
" W Co, will be sustained and carried throngt