The New York herald., 1866-06-17
THE MONEY PANIC.

II understood IA commercial circles IN England
The, s.-rs BIZ Morton feo, Belts 4 ca. would resume
lsroan she London Times tciiy arscls,, June 81
Ths comnics of shareholders Of 0scr~Dd, Gurney 4
sumption of business but s,sung tia, this osn be rem
dcrcd posytle only by resdiefEs On sba part ~ ne s
rary capital and lhe fcrbcsssce Of bc unsecured credi
tors on the other TO prcss for the Immediate payment Of
shareholder should advance at intervals equlva
lent probably 10 fi0 per shase In the form of lean aud
that the creditors should he sskcd 20 acoept dsbontaree
with nxed rate OF interest maturing al periods OF one,
two aud three years The meeting A. which his plan
vii be discussed y axed for Monday mort.
II " stated mat The negotiations ~ tho Manchester
directors ~ ns Consolidated Rank TO revive the business
Ia that city have noi proved suoceasfui
Tie Master of ths Rolls has appointed Mr. W " Holy.
land, of the Arm q Price, Holysu waterhousa.
onhcai liquidation q the Commercial Hank Cooperation
OF India and the Eat
lfrom The London fiu.ss ,c!iy sr,ice, Jur~sl
A. a meeting today of tho European Bans sir W.
Garden tho chair u stated that .irce Tho sioprage
the ii.blt'es hsc been reduce. ~ siil,T2 and that
probably within tie next thre. months nearly the whole
81 The liabilities viii have on lNo th.i the est.
sns'e " st fully entertained that the i,a7 cannot under
any circum stances exceed from $4,000 70 Gao 0oo
Sir X W. Garden, Mr. Brown, Of Morrison, Dillon Co,
charran IN ooneiuvion. expressed a conviction that
bank might BE- adyaHtageouuly constituted ny .
union ~ sharchofers 81 the European Bank ~" f4nk
o. London the Consolidated Bank and the Ebgh Iont.
stock bank.
At meeting to-day of the creditors Of Mo,srs r
Framl,e Co, " Gresham House. who failed tho
ais, ultiuo, gsieGcnt ~ affairs was presented ~
ssssrs Price, Ho,yinni & wa,erhouse showing total
liabilities amounting 70 ls33 Ogs, assnst which Nccur.
tcs of Tho estimated value a f23 00T are held ami
asset 70 III. amount ~ E23 ID addition 20 deb, a
$50 5ss a., by Bombay una Of the value Of when
no reliable estimate al pres ut he formed. II was
resoved 10 wind up the estate under Inspection q
~. principal crcflors setlns A. inspectors.
Il VI stated that Aors retO and Bets the contractors
for the Dunabarz snd waepsk (naesanl Railway have
completed the nrst section, one hundred miles in
length, considerably within the time allowed tham by
their contract
now rHH Wan NAY Ayrgor rHs crock sxcpIsox
lfrom tho London Times teiiy Itlciel Juno
The apprehension ~ var occa.oncf further serious
fail this mornlns Engish and foreign stocks dspsscl.
sid already 70 en- extraordinary paint opy By the
,hs financial panic !. may be Questioned Lo.sVsy ~
in thus giving vay ~ despondsncy the public sctlns
upon any definite viswa l. there theory that the cot
hre~k Of var vii draw money from this countsyf 60
u ~ouid be vol n thoss who entertain u would sx.
plain tho way vbish this prooss-. contrary 70 all
Ear the suapension of specie payments IN Isaiy hss
been followed by tho natural results of causing large
vii uinsisy ., upos The I0ldon raartsI and ,hsrs
V no reason 70 suppose that - regards Austria Prussia
would be dinersnt Hence wo have 10 anticipate that,
simultaneously with the sconnslaon OF bullion witch
Invariably follows The ccnrscsos of busncs occAsousd
~ psnic, 80 may s,nos v~ry sres, increIs irvm
tbs Displacement of the precious metals hs conti
nent Under ths~s circumstances q seems lmpo&zlbs
10 assume that The action Observable po-s
have been caused by any inference the thai the
ooIbr~ak cf hosliiss will be aitsoded here by scarcity
although we may have most unasuaI lnnus of mssns
~
peope ~ii refuse 70 employ them while IL |
raging among our neghbork a of that |
kind, however vas never yet pursued. horsy |
u never long allowed % lis ids aud In short Tins
.hs,evsr may be the accumulation that pisos II
vl nnd sosn@ channel. tinsnos and banking schemes
Mt hky 10 furnish that channel and u the British
fund. cr rsvay aocks tbs securities of tos foreign
coanfss that may b. out % danger % being drawn into
The d. not sttrHr, favor, Will be bard ooneo.
turo Shefe ths cutie, 10 20 b. STAINED Finally q.
resTecss any pssinihy thai England may becoms IN
vowed IN ths spprosrhng oompi siions may b ~.
marked TIA, even " W. ,mpvot1btts n s1A a co.sr-
0>~cs b. not sucsni 70 prevent the present
Of the knowsdge are already
s u. loves quotation tonchsf fnrng the costly
snf dlsasirsus stage q the Crimsan couHr, wh u ri
other clAsses q securities vg fay beIs a. rangs n
~ nms might be erpectsd 70 some poser Il
impArsing conndeace.
rug CONDITION ~ LIVERPOOL.
FROM thn Liverpool Albion, Juns1
IL very satisfactory that the ek has psa>>i ever
riihogt any serious local di1Nters yoans cotton bro
kef has goLe on " the Cont nsnt after fanduIaay VIC
tn t!ng ons u III b4nis ~ q small s1Lsnt
An eminent COTTON hrm in tsmp1rary fmruitA.
osus 70 specasuons ~ great msgniiuds earned o. hy
oss of he partners bat Tie stab ly o. ihs other Iari
ner =, a. Al ony slightly aaseisd, aud Asf bssi.
Tnere ruth IN IN. stsismsui Published by oca.
smlefay Lai nrm largely engsEsd 10 tia Esst Iaat.
sbf Amer cas- trade haa s4syended
.esra BorH, Ensilsh Bnadsn have asrsnssd 70 /
ysJ me shlhngs 10 the pound, n 6v. nsslfssen. sr.
isnfns over period u sxttssa nsntha
A LfrrLs consosS vnon vAsarsYos- --osssas
40 sAp ~ ounssLvss
1rvn Ne Los1os Iips, ysassl
-.sss. ss,.ss |. -. :. 1. S. = .: : 49, Z
S...., . sins.'y !, -: ~ Ss .:A -: ~ W i,:ss.s