The evening telegraph. [volume] (Philadelphia [Pa.]) 1864-1918, 1866-06-18
ECU OPE.
IRE MONEY PANIC IN ENGLAMp.
continued from our Third Edition

THE LREDs BANKING COMPANY AND IT'S MANAGE
MENT.
From the London Times, Juhe5.
Yesterday Leeds, MI Edward Greenland, the quon-
iseS on the tta September isSI was brought before
the magistrate to answer the charge OF having made
notes and L!s OF exchange issued by that bank ig 40
76 and stH o victoria chap 81 ihe court was ,rOwded
and an eS eted mntude waited OUTSIDE 20 learn me
London Instructed by essrs. Sorth sons OF eeds)
r on a 6ehS ma ab @
TO ocuHe 20 notes representing t23 O16 and that the
amount; but on The 2h Of june 1854 the actual issue
II spf h 70 w SS SseG Of for as 6 sS
on iunre occasion ne should be able to prove that
turns made BY Greenland an TO t9s Inland Revenue De-
poiment was false We also added that on some future
might be brouph bit against the prisoner.
18th inst and we've Wiling admit the prisoner 70 bs
-bmse II in 1SnS, aud two sqrehes in 1850 each We
had called Mir. Greenlands attention TO the fact that
proper feiuTn to keep i within the limits and Green
land told HIM 10 take Bank OF England aud other
TO make uptne deficiency.
TIE SOLID MEN OF ENGLAND AGAINST "sHENr PER
sHENT'' AND sHODDY.
From the London Times, May %.
The present state o. the money market, viewed in
conjunction with certain other symptoms of social
ud1tion may well suggest some curious reflections
mn worth but S Of nOSey VII tse so
much of this eo@mooty has been locked ny" that
though may al be safe enough there Is none OF TO
be band. Neithr credit nor goods, nor the material
doubted values viii procure bank notes or soverelgns
We have ali been working hard enousr, and upon the
thing but we are ia re titv r'cn enough
aium which is eccas'o 'onay required.
For acondIil0n Of ten per cent or in other words st
make mi ed advances upon Conso and relieve fund,
on such securities such terms there Is money to
be had Foreilners are actually under the impression
the OF the Bank Charer act FOR the suspen
S@ been Oi sspeG @ the Foreen onee that
nothing has been disturbed out credit and that we
tiOn or two may enlighten our continental frlenas
% on Friday them at the West End of the town there
sale jewels going on Just when, at the East End,
buI the specimens good, and anybody might have
ianced thar the cpporunlty was an excellent one lor
would surely 90 a good wsv. Wen, VIII show how
and fetched just fourteen hundred and ftS guneas
Then t1ere was neck ace formed o. single row OF
cut in England many years ago by sSu hands beiote
ornament brought e'gnt hundred and ory-iYe guneas
peail necklace etched one hundred aud ninety-hve
gum, little more. sinsle-stone rings averaged
sa ring with one disnoRd in It was knocked mo-
down to fortunate bidder for three hundred aud
Trg apyead fetched Two RundroG and T' iortypS
tbat iewes are as good as cold and tGa the payment
all this money for va ucs absolutely indentical sign
will take another example or Two to which it will
Last Saturday week a small collection of pictures
and drawings mostly by modern m sters. was ''su0.
results picture fetched one thousand three Snn
3 another I6 vST SRe O w0 hundred
view OF Yentnor in the Wight brought nine hua
aa n ssR Rn
aas en 9 Sr aud
DIR d and sixty poun9s This auction was followed by
AZ two nnea Wills two SSe
specimens nearly three thousand guinea were
hundred and sixty guipeas; coast scene by this
fS1 e as nearly er
S Of e Fssp Of tO he
dred and eghty-fve pounds in money -Four days later
same Character On Saturday The royal yeeSE
fetched on an average upwards Of tour guinea
son acdnSnted with such matters knows full Wei that
aBandan Ouch esew6ere and that W6 feo the Is ex Is
rtmy ofpTessure is ie IN the city, anr object OF
absolutely fabulous.
happens money does not find its level b. flo wing
nom regions here it aboundsto region where it is
It Would be FATHER dscredisbe If like savaSes, we
MERCHANDISE; but that need not be assumed. The fact
is the concerned in these transac ions sepa
thousand pounds to spare for painting diamond, or
franssetions Commerce or at any rate fnance has n
world of its own, and that world is inhabited by select
Some people deal commercially with their money. and
OF discopHting bI or making advances upon
ties, whatever might be the profit atainabe. rhe pur
guneas ounce probably could not have told what
bank rate of discoun at that minute and would not
have been tempted by 1t they had known Indeed it
is only trade that money lendi1g paws 1t is not
worthwhle for man 70 take small capital INTO the
oney market Tor the sake OF prices whic may all have
vanished in month.
The money of the outer world does not flow
into the regular city market because there are no
accustomed channels it, nor, indeed won il
cent amount 10 fill the vast gap which the INTERRUPT
tOn of credit has created. more effective course of
relief We trust will be ound bur, in the mean
time neighbors may themselves that we are
not really poorer than before.
The firm in question have recently compounded with
their creditors for 9Sum under ten shlings to the
pound and even this will have TO be paid in ave sta
ments extending about eighteen months There
is however Just probability that they again be
ac ed in a position business and pay their
deb,s ull. II appears that their chief losses
been in cotton which is now, OF course relatively
great depreciation, They purchased. some time ago,
either IN merica or Egypt very extensive shipment
OF cotton abOut the highest price Of the market
the time. The cotton insured TO its fun va ue ;
hut The ship on board which II slOwed, though
considerably over due, has not yet arrived In tas
country
have 10 nav over the full marketAb value Of the cot
ton al the time IL purchased, and the firm will be
enabled NOT only their debts In fun but 10 re-
| aIize a handsome surplus. should the aud her
cargo vet arrive the firm will be ed to
| adopt the composition above described.