The evening telegraph. [volume] (Philadelphia [Pa.]) 1864-1918, 1864-10-06
ADDITIONAL FROM EUROPE,
The Financial Crisis in England.
TIGHTNEsS INTHE MONEY MARKET,
Failures and Great Commercial Dis.
trustin Leeds, London, Liverpool,
Manchester and Havre.
The FinaucIaI Crisis In Engiaud.


The stock markets have again been prejuliced
to-day by the feeling Of distrust wnich prevails
with regard to The condition of mercantile ere lit.
From the heavy losses which are nov being
incurred in cotton, II is feared chat further fall
uTes must take place, the effects Of which may
make themselves felt in other Departments o.
business. The funds have declined per cent
aud closed fatty Foreign stocks, though duli
in tone, were comparatively well supported.
Home railways have gwen way. The principal
feature Of the days business, however, was the
incres cd weakness showu by the shares some
of the banks and financial companies. lnCrut-
tiOnal Financial have especially suffered. Al
though certain demand continues - be eXperi-
onced on the part Of the public for good dividend
paying investments, owing probably to the easier
prospects of the money market, and TO the decided
improvement in the position of the Bank of Eng
Land, the tone of the stock markets showed ia
creased depression at the close of business.
IRON. M LoHdoa Times CcNy ariir,e) SsplA
Nothing further of a definite character has
tTanspired with regard 10 the Leeds Banking
Company, but it is believed that balance-shect
will be presented to the meeting of shareholders
on Monday. Meanwhile the statements made
regarding the debt of G5O000 due TO the bank by
a Mr.. Marsdep, an "ron founder" wno appears a
short time back to have been publican and pre-.
Viousy clerk at some iron works, have con
tributed to increase the feeling as to the whole
some results OF a Inc per cent. rate of discount
when II puts stop 10 the career of such estab.
lishments.
The proceedings yesterday in the London Court
in which il transpired that he had been helped on
in his spcculations by advances from two OF the
newly formed joint stock banks, one OF which
figures as creditor for 100000, aud another tor
El6,O6S, have likewise strengthened the conviction
of the value Of the corrective process now in
progress.
At a meeting of the creditors Of Messrs. Born
4 Co, produ brokers, who failed on the 2Oth
ultimO, the balance-sheet presented by the
accountant, Mr.. +. Maynard, showed liaDilisies
for E2S,456, aud assets estimated at Ell,OIO A
resolution was passed % wind mp under Inspec-
ton, and the meeting was adjourned to the 18th
of October, to give lime for Communication with
the principal creditors, who are nearly all foreign.
Ihe following relates TO the charge Of fraud
against Mr.. h. Il. unt, which was heard yes
ttrday before the Lord MLNOr, and on which The
prisoner was Temanded until Monday -
CoHnrTEE RooN, srooK ENCgASGy. September -
br;-I An dnecrd by the Commtec Of tho stock Ex
in TIE Tines Oi TO-DAY having under examtnat on
attn Mansion House not snd never has been. mem
laval my sell Of M; oPP.rtupi to add that the COM
change from adyerlsing for business
am, sir, your ODE lent servant,
HHtr". FRANCIS LEYIEN, Secretary.
TIE LEEDs FAILUREs-RsPoRTED RUN OF
BANKRUPT TO NEW YORK.
Nom he London Tis,ss, September 20.
Nothing positive has been divulged 10 the pub
lie of Leeds up to yesterday afternoon rs to what
steps the committee of shareholders of the Leeds
Banking Company, in conjunction with the court
Of directors, are likely TO recommend as 20 the
affairs of that company; but rumorJ were curTent
that the condition Oi the bunk is much worse
than was at first suspected. Some further failures,
consequent upon the stOppage Of .he bank, have
occurred.
That of Messrs. Saafeld, cloth merchan.s,
has already been mentioned in the Itmes; aud
Leeds paper states that the bills of Mr.. john
Abraham, of Aldermaubury, London, h.ye
been returned, the fai ure being attribut able to
the suspension of MesSTs. SaaldeId, against whom
q pc irign 4 hapEruptcy was opened in the Leeds
NrfI InyN
total amount of Nc Sra. Sa lheis liabilities IL is
conf Ctured, will approach 100000, upwards of
E25 600 Of which IS due to the Leeds Banking
Company for bills now running
Another failure Is that OF Mr.. J. w. Marsden,
iron master, Leeds, from whom a letter, dated
Liverpool has been received in Leeds, stating
that be found 'all was up aud adding, "Tm off
TO New York" AS this was an act of b inkruptcy
petition was yesterday presented against him
in the Leeds Bankruptcy Court on behalf of the
Leeds Banking Company. Their claim against
him amounts to f54, ,395, aud they hold his dis
hold as security the NOR gage Of foundry at
CastlefOrd, between Leeds and York Under
any circum6aDc g, no geYcr, the loss of the bank
by Marsdtn must be serious There is no posi-
tive Information that NJ rsden mas lett for Ame-
rica, and many question whether his letter was
not a ruse, although he stated that further com
munieadons were 10 be addressed to him in New
York
THE FALL IN corToN A LrAptyG GAufg or TIE
.U.LtI DIFFICULTY.
From TIE London telegraph eg Grislel, September a.
Serious difficul'ies are beginning TO he felt
among some ofthe weaker Spectators in cotton,
and the mischief, il is fea'ed, will spread in con-
4 sequence of the heavy tall representing alto
l & ther about sixpence per pound, that has taken
place in the va ue OF he staple. The losses thus
entailed-aDd they must have proved * ceedingly
large-are aggravated by the dearneSs OF money,
ana the obstacles thrown in the way of firms
whose position is considered doubtful by che
reserve naturally evinced in the discount market.
IL is unfortunate 10 time, like the present that
y the disturbance o'casioned BY future here and
there eEgendeTs distrUst, where, 10 fact there is
not the slightest glOund for alarm hut the cotton
interest has beea for fhe last few ears ia very
anomalous situation, owing, Of course, 20 the
uncertain duration OF the American war. Trans
actions have NeGn conducted all along on an Ell lr-
nous scale and at length Indications Of instability
have developed themselves, In the known stop
page Of one house and tho reported embArrlss-
ment Of another, whose misfortune has formed
the principal topic OF conversation this afternoon
IN various paris Of the city. One of the firms
n referred 10 is Messrs. Oerichs < Co., and the
liabilities are supposed 70 amount TO E50,0O), but
y much uncertainty prevails upon the subject.
In the other case the party IN question Is stated
10 have informed his brokers that he will not be
able TO pay his engagements due Tomorrow.
L His dealibgs are alleged TO have been OF vast
extent, and a short time since he was understood
to have realized about f250,000.
LIVERPOOL ALARMED.
From he Lirerpool Mercury, September 20.
In the principal departments of business in
London yesterday there has been very little
doing. The downward movement of prices in
i the cotton market continues. Every one appears
be very fdgety regarding monetary matters, aud
II Is feared that, unless change for the better 500,
takes place, credit ioiR be seriously shaken.
THE FEELING IN MANCHESTER.
1 From he Manchester Examiner, (cfy article, Sept "a
| The stock markets show an Improvement
\ There is no business TO support them, transac
l tiOns being dsarrapged by the impression created
/ by the suspension of the Leeds Banking Com.
/ pany; but in the absence Of investments, prices
| generally are steadier than many people autic
I pated. The returns of the Bank of EnglanC
| and the Bank of France are both satisfactory
Snasmuch as the position Of both Is strengthened
in their reserves, whilst their Liabilities have
| diminished.
II is stated that some of the younger Joint stool
banks have been urgently calling on their Gus,
| toners 10 reduce the amount of their advances
| and that this is one cause of the continued de
] preston ON the Stock Exchange. Ii is urgeC
that, if this course Is continued, serious incon
Veniences may arise, and that the power should
be very carefully exercised under present circum
| stances.
| FAILURE OF HAyRE COTTON TRADER.
From oae London Times (eHy article, September 22
The failure has been announced Of Mr.. G, Dose
| a large cotton speculatOr at HaVre. The liabili