The Ottawa free trader. [volume] (Ottawa, Ill.) 1843-1916, 1866-05-26
From EurODc.

r LOHA G0EOPCs
The news from Europe begins to grow de.
cidedly interesting. For some weeks atten-
ton was closely rivstsd upon the movements
of Aus tria and Prussia, both Of which were
vigoro psly arming and evidently on the eve
of pitching into each other about the Schles.
wig. Hols,ein duchies. While the entangle>
ment of Austria in such a war seemed in>
evitable, Italy, which never keeps its eye off
Vene,ia, bsgsn also quietly to arm itself, in>
tending the moment Austria got fairly into
the fight with Prussia, to strike for VenetiaI
Bat \ ustr;a and Prussia unexpectedly patch
ed up eheir difficulty; and then Austria sud !
denly turns round to Italy and asks, What
do you mean?" Now Italy had gore too far
to admit of giving an evasiSe answer or back
ing out So Victor Emanuel had to say
bluntly to Franz Joseph, ave want you to
get OFT Of Venstia.'' OF course f. j. will do
no gu ch thing short OF having a big fight over
it FIR st :; and so both sides are busy getting
ready The advices BY the last steamer are
to the effect that the Austrian army in Ve>.
Meta will be completely equipped and aug
riented TO its full strength by the 18th. It
expected to reach zoe 0oe, which is consider
ably in excess Of what is required for ef-
fectivs defence. 1t is s,.ted that all the
passes on the Tyro' were defended by art lis
iery. Steamers were being ordered in Lon.
don tor Italy, and large contracts far horses
are said to .,avs been made with Prussia.
bu.. the most exciting news by the lates.
, steamers, has reference to fearful CONNER
cial panic that has suddenly broke out in
| England. 1t is said to exceed in violence
anything Of the sort experienced in England
within the last 60 years.
The panic eliminated on Thursday af,er>
noon, May 10th, in the suspension of Over
| euder, Quincy / Co. Their business was
converted, in August last, into a limited liza
| bility com any, with nominal capiti Of f5 /,
| oQ0, 900 sterling, of which 81, 100000 was
! paid up Tle liabilities are stated at from
clio, O00,0 900 to El2 100000 sterling.
| On the following moraing FRIDAY intense
excitement prevailed in the financial circles
of London, Liverpool, and other centres, and
/ bushes, was almost suspended. TIE Times
! of the 18th, in It's city article, says: The
| Bank Of England Yesterday raised rs rate OF
! discount from S to per cent, and special
! advances to 10 per cent. The pressure Was
| great even al these terms, and 1t Was ouiy O..
eptionsble bills that accommodation
could be obtained. Meanwhile, additional
and most serious disasters were hourly an.
nounced. The first was that Of q compars.
lively small bauk-the English joint Stock
for 10000 sterling. Then came that o.
Peto / Belts, for s4,oO0,o00 sterling; then
that Of W. Shrimpton. railway Contractor, fox
goo, 900, and finally il was Under,too pod ths;
the Imperial Mercantile Cred:, As. ocistion
whose paid-up capital is haifs million sier
ling, and the Consolidated Discoun, Comps
ny, with paid#p capital Of Csc, 900 ster-
ling, InuEt, with extremely heavy commit,
men;s, pass into liquidation. During th.
day the II os: intense ANXIETY was G1aniies; eL
to ascertain il say steps hal been taken by
leading merchants and bankers TO re2re.er
. the Government the extent Vi the crisis
! and false notice in tie Stock Exchan-,
thai an extra issue Of bsnk notes u Ii. ex
tent OF el0, o90, 900 had been orier.I cause.
at one time a general rebound in prices
Laser il the eyening, il transTired that III,
| Government had resolved - saspend tn,
tiank ch.-teract
The assets Of Peto ( Belts, even under IL,
most depressed circumstances, are estimate,
al five millions sterling, aud it IS coaGGentl
assumed tina: in a short time preparation
for the adjustment Of ali claims Gan he ,ab
lhittei. Every one VII ho2e tina; ths ma,
be The case, for Sir Morton Peto and b.
partner, rank prominently with Them WI
have carried the fame OF English eutcrp,is,
to all parts Of tho globe, while they have co,z
nandei high personal regard in 81 section
among their count-ymen. Il IS aIreadr
known that several failures among dealer
vii! lie annolncei in connection with The az
preaching half monthly settlement, on tn
Stock Exchange. A large number Of cou=
try bankers were in London - confer VII.
their London agents TO prsF6ls as.ir.: ..
danger from Iscs, run,