The New York herald., 1866-05-28
The Situation ON ,ChnnSe.


The pane .ns to abate and the indications increase
the effects Of tie shock will be less general and dsa-
trous than on former occasions. The general consc
than those or and there is soed
trust that the present occasion shall show further
s,rido in ,,s our ability to bring Mss psrld' q
preston. On tho present occasion there has
been no very serious squandering OF national wealth.
and the encountered has been mainly from fall In
the prices Of securities, which previously calcu
la ed symbols Of what they did actually represent In
this way It has been estimated a. Tad ESQ 600 600 ser
g ha di.a ppcared ern since tie oS he DR.,
sT but II s amply from the appointment Of prepos
ferrous valuation and not from destruction loss Of any
thing positive. Even or this at least half will be
covered with the Of confidence since the euor
nous amount is chiefly due 10 the fact that every
funds and all the best foreign stocks have been beaten
down by the disappearance OF tho fictitious premiuSu Of
ranter Of inferior conc,v The prospect is much less
discouragng than might be supposed
An active demand for specie for the Continent has
been cccascned by the dscred awakened through the
founded with suspension OF gold payments, and this
circumstance tends 10 retard tho recovery OF
se ,oms foreign g m balances a. t q 0u, high rates Of inter
London being regarded with doubt at the time the
discount demand at the bank continues extremely large
from the strict caution exercised by all other establish
mcnts ON tn, whole, however, there yesterday
lees disposition among individual capitalists TO hoard
their resources and occasionally loans obtained
point slightly below the bank charge.
The mond for silver for the Continent has been brsk
ss 5 few 1 fs and s rH %
ais bars, have been Withdrawn from the bank for trans
mission abroad.
On tho ?5th Of April meeting was held at the Com
mercal Bank Corporation OF India and the East when
report read showing that the agents Of the
panies in India China and America had all led the
establishment into ruInous Ioss II now appears tb at
the directors have found u necessary 70 resolve at
upon SUSPENSION The immediato cause Of this resou
tion Is the rcfusal OF the London bankers OF the
soapsnIes IN China The capital IN four %
the Company cains % BY royal ease the
shareholders responsble for further million last
II Bombay. calcutta, Foo Choo Foo. Hankow, Hong
Kong. Shangbae, Singapore, Yokohama and San Fran
cisco The number Of shareholders about six hundred
The circular issued by Dolet, Ommaney Co, hank
ers and army aenis Westminster states that their
pension Of payments was taken with view 70 protect
as far possible the interests of their fr ends the
monetary crisis having caused run them during
which they nnabc to procure advances Oh their sc
curitics
From the London News lcity articlcl May lsl
The recovery from the panic, which has been most
rapid would have been II not for the
collection that The Treasury letters while fixing ton per
cent the minimum rate Of discount reserved 10 gov
ernment The right 70 recommend, II deemed desirable
imposition OF still higher rate. In the discount
market dcalers Consequently obervc great ca.tou nn
they have reasonable that the bank
rate wiz not be screwed sp Il higher. ,
The balnnc sheet of Mr. W. Schrtmpon, railway con-
tractor shows G220 oco liabilities and ascss nominal
value, but dependent CONTINGENCIES f3ss,o00 COM
mss apBSs,ssa e report 81 iareT Seex
10 lqudate under Inspection II II understood the
estate shows large surplus This course has been de.
temincd aftcr consideration with the leading parties
interested order prevent the sacrifices which would
be involved By immediate ral zaton ot securities.
which consist TO a large extent Of shacs and which
In the iYms hands.
Runor had been busy with The names of large
Arms N Liverpool but was understood that matters
had been satisfactorily arranged
The only failure OF moment IN that town thus Tar had
been that OF Wakefield Nash A Co, whose liabilities
proved be less than At 0rs rprcfentcd and who
CoDsols on the 18TH OF May closed quietly al "a y
All other securities decidedly better than At the
da,e II tho departure Of the Cuba
Railroad Finance In England.
In The English House of Iord- Monday night, Lord
REDE.p1Ir made the following cbservaious on railway
financial operations IN England There another IA
stance Of \ very large II bad been working for
considerable period, ard was very energetic llnc,
which stopped n expense carry on, ,s objects He
mentioned i because connected partly with the
sdTI~ teafa The pfctss1s, Eat hsd ceyttisd 10 regard
10 The rnlng ~ tire cspis u the line they would not
financial embarrassment Of the company. Last year
there was now scheme for The extension of that line
into tho city for shi separate capital was rascd Tor
large amount In the course Of the year the conifac.
tors went 20 the Credit Mober Company Tor ~ 10000
Pgm--What was the name of the company
lord RspNsDAiH--Th. LONDON. Chatham and Dover
Railway They "a sod that sum the following trrns
For EH cash hcre given ftO of fully paid MP stoc
thus sacrificing f9 obtain f2i II ia eject get
ting C57T 500 by sacrifice Of fsl2 100 And tbs
nood AZ the time most successful operation on the
part of Ncesrs Morton reio and Company, who
quite satisfied at getting money on such terms During
the present year the value of money had Increased, as
had also increased probably the embarrassment ~
contrnc,ors |, therefore that ff0o stock
could be had Tor E2T lOs, and cf CG2t. $50
raised Al sacrifice Of q, as 700 wn rossts 10 cup