The evening telegraph. [volume] (Philadelphia [Pa.]) 1864-1918, 1864-11-01
THE FINANCIAL CRISIS.
The Latest Suspensions and Failures
in England.
Failures Announceh in london. Oct. u


From @e London Times Ceay arti;'e), 0toasr H.
Mr.. Thomas BurTowes, ofthc Stock EXChange,
was declared n deaulter this (Satlrdlv, lj)
morning, and was subsequently examined ~ the
Guildhall Police Court ou Il charge Of obtaining
money under false preienses.
At an adjourned meeting of the ere litOrs OF
MessIs. ii. ClOugh, Son d Co, az Bradford yes.
ttrday, IL was resolved 10 wind mp under inspcg-
ton. An offer OF 81. 6d. in the pound, in four
instalmcnts, was made; but the directors Of the
Leeds Banking Company, who are creditors flr
nearly 10000, intimated that they would not
accept anything less than 7s. Cd in the pound
the whole 10 be guaranteed.
Failures Announced In London, Oct. is.
From ne london Times (-by at,siel, October IS.
A meeting OF the creditors Of Messrs CrOskcy
& Co. was he'd to day at the Office of the Rccouat-
ants Messrs. Harding, Pullein x Co., when q
STATE mt mt of affairs was submitted by Mr.. Pulen
l. was unanimously resolved to wind up the estate
under inspection, the meeting expressing their
confidence in Mr.. Croskey, and his ability, with
the assistance of the Inspectors, to bring his
affairs to a successful issue. The total Liabilities
secu,ed and unsecured, appear TO be about
E295 coo, OF which ElS7, 900 are expected TO rank
ag0lns, the estate.
Mr. J. b. Gibbons and Mr. ]. II. Tillett, the
iquidAtOTs of the East of England Bank have
announced that first dividend of los. in the
pound will be paid this week and next, at their
Office in Norwich.
From hs London HcraId (sify drtieIsJ, Oc'.l7.
A person OF the name of De WITT was brought
up at the Mansion House charged With uttoring
the forged accep,ances Of Messrs. j. Stuart s. Son,
Of Manchester and New York, American bankers,
and OF Messrs. Bramley Moore Il Co., OF Liver
pool.
From hs london Esraid Ceity article, october ls
1t was stated on Change this (l7th) afternoon
that the old and respectable firm Of Messrs. Mon
nDger g. DennmghOif commission merchants
chiefly associated with the petroleum and oil
trades, hid suspended payment. IL is feared
the debtS and liabilities will reach from 100000
TO flCO.OOO. The assets, 1t is hoped, may prove
favorable.
Mcssrs Cuadra, Encisco & Co, q house in the
Spanish trade, was also reported u have stopped
ia aft rnOun, with liabilities for 100000. In this
case II is said the prospects OF the assets are not
dscOursghg. Mr.. CuG1ra failed some two or
three years ago, and Eadc, II is believed, salts
factory liquidation.
Failures Announced in LOudOn, Oct. 10.
n on ne London Times Cetfy dy!ics), October 10.
The suspension has been announced OF Messrs.
Peel, Cooke Co., il the Australian trade, with
liabilities for about Gao 00J of which il is thought
perhaps only 900 will rank on the estate.
The difficulty is reported 10 be owing 90 specula-
tiOns Ia shares which will compromise the Lon
don house alone, and not tbs Melbourne trn.
The books are in the hands OF M3sSrs. Kemp,
Ford & Co., and favorable liquidation seems 10
be expected.
Tbe suspension has been announced of Messrs.
Bullock x FernyhOugh, COlOn!a, brokers, Miuciug
lane. The amount Of Liabilities is not stated, bat
10 supposed 20 be small
The Suicide of Iho Manager OF the Mer.
camille and Exchange Enuk, OF London.
FROM he London Times Cety Gy!s.,ej 0ctooer 10.
1t trahspircd this afternoon that Mr.. Robert
Henry Williams, the London manager of the
Mercantile and Exchange Bink, committed sui
eide by poison last evening, az his residence, in
New Cayendish street. Mr.. Williams was for
mtrly in the Union Bank Of London, and was
only twenty-seyen years of age.
For some day past he had been in state OF
believed
| tcTday 10 have been increased hy the news from
Brazil but il is understood 10 have been asCer-
| tanned that all his personal accounts with the
hank are entirely correct. The Mercantile and
| Exchange Bank was started IN Browns build
lngs, Liverpool and Old BrOli street, London
| in February, 1868, with q capital of fl000O0O,
in shares of ESQ., and in June last negotiation
was concluded 10 take over the business OF the
| London Bank of 5cOtlapd-au uulert iking viii h
| had been started In April, 1868, with capital Of
| 100000. BY these arrangements, and issues
| Of new shares, the nominal lpiJal Of the Nler-
| camille and Exchange Bank was increased D.
| E4O00OO0, with 100000 paid up. The ESQ
| shares with El0 paid, were yesterday at dis
| count, and have closed his evening at discount.
| Annexed is note received nom the sub-mAn-
| ager:-
| TIE MERANrILE AND FxCIINNdE BANK, No. 4
| LOMBARD SrRRET, October Is, lS6i-SIr Re
| iurug 10 the sudden death OF our manager, Mr..
| Williams, | am instructed by the directors 10
state that, after an inves iglton Of the accounts
! ant the SecufileS OF tle DiuK, tDbY nave every
reason TO believe that the atflir5 of the bank are
! not thereby in any way compromised. am, sir,
! your Obedieht servant.
NATHANIEL CoRK, sub-Msnager.
The Crisis In Australia.
! From me London NsWs (cty yaTial.), october Is.
The Rdvices from Sydney report the failure Of
Messrs. Francis Giles & Co., merchants, owing 20
that Of MessTs. Favenc, Gwynue & Co, of Lon
| don. At q meeting of the creditors Of the former
house, the liabilities were stated at Eli0,7lO, OF
which E73000 is due TO English, and EG7,7l0 10 10
local creditors. OF the latter amount E2l 926 is
| secured.
The assets were estimated by Mr.. Giles at
| about El24, 900, and be attributed the stoppage
to the large shipments made by tayenc, Gwynne
| Co. For instance, indents had been sent home
| for goods 20 the amount Of fl69,OOO, whereas the
total shipped had reached E263, 900. committee
was appointed TO investigate the estate and report
| TO future meeting.
Messrs. Bingle & Co., in the shipping and coal
| trade, had also suspended payment at Sydney
with liabilities for 100000. An offer 20 the
creditors Of five shillings in the pound was made
| and refused.
Pressure in Trading Circles In France
Parts (Ocioterl ~ Correspondence Of London Time5.
The resolution adopted by the directors of the
Bank OF France TO raise the rate OF discount from
| seven 10 eight per cent. has produced an unfaVor
able impression in Partisan commercial circles
| II presses particularly on traders with q small
capital who are forced 10 sell for credit. IL was
impossible, however, for the directors to ac
otherwise, seeing that the specie in the bank hao
diminished by l7,oOO,0OOf. within week, whllt
the bank notes In circulation increased 000, ,O00f
1t is further to be remarked that the cash In hanC
at this time Last year 2T2, ,0O0, ,OO0f., while al
present IL is only 250 600 ,OOOf
A Money Crisis tn Madrid.
| from hc London Times, october 10.
The accounts from Madrid describe hnancia
affairs as approaching almost state Of chaos
| owing 10 the embarrassments Of the Government
and Of the National Bank, coupled With Oh,