New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1866-05-23
Etc.s
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HALIFAX, May 22.-The steamer Cuba brings
the following additional intelligence:
Vienna kilograms report that Minister Motley
had protested against the further shipment of Aus
trians to Mexico. The troops were then retained
on a limited furlough.
The financial panic in London eliminated on the
10th of May in the suspension of Messrs. OVerrend
Gurney & Co.. with liabilities of from ten to twelve
millions of pounds sterling The failure is attrib
uted to very heavy speculative sales of shares at
a heavy discount. The run was commenced by
repositories, and the Bank of England declined
assistance in consequence of the crisis. Sir Nor
ton Peto and Mr. Belts failed to the amount of
four million pounds sterling. The suspension is
reported of the Liverpool mercantile credit asso-
citation and of other establishments. Intense ex
citentent exists in financial circles and business is
almost suspended. The government has resolved
to suspend the bank charter act. .. '
New YORK, May 22.-The Academy of Music,
the Lutheran Church, the Medical University, two
piano factories and some other buildings on Four
teenth street and Third avenue, have been de.
stroyei by fire. Maretzek and Grau's troupes
lost their valuable wardrobes. The total loss is
estimated at from three to four million dollars.
Several 6remen were killed.
HALIFAX, May 22.-Additional news from Lon
don, dated May 18th, states that the Bank of Eng.
land Yesterday (llth) raised its rate of discoun,
lrm eight to nine per cent. and its charge for spe
oa advances to ten per cent. The pressure ever
Oh these terms was enormous, aud it was only OF
rnexceptonable bills that accommodation coalt
Ae obtained; meanwhile additional and most seri
lOus disasters were announced, the most seriou
LOT which were those of comparatively SINAI
Ia, fan nit,h
hundred thousand pounds sterling; then came tina
4 of Peto. and Belts for 64O0oOOO sterling; the
that of William Thompson railway contractor
for ESQ 900 sterling. Finally it was understoo
that the Imperial Mercantile Credit Associatio
whose paid up capital consisted of 100000 stel
giug and the Consolidated Discount COMPANY
with paid up capital of &25O,OO0 sterling, mus
with extremely heavy amounts, pass into hquid
ton.
The London Times, in an editorial, says if an.
thing can justif Sthe suspension of the Bank cha
ter act, the panic which rocked the city to ana Fl
on Friday, the 1lth of May, will excuse the ste
8 Although we believe the reign of terror was a
/ preaching Its end and would speedily have Ceas'
d had no infaction of the bank law been permitte
d even now it is probable the license allowed
r the bank will not be used. It cannot, howevt
n be denied that about mid day yesterday the
e mutt became riot. The doors of the most
N pectable banking houses were besieged mo
q perhaps, by mob actuated by that strange sy
pathy which makes ard keeps a mob togeth
II. than by the creditors of banks. Throngs, heavi
or and tumbliDg about Lombard street, made u
&c narrow thoroughf're impossible, Such excl
ment on all sides llas not been witnessed since
great crisis of 1925. Each man exaggerated
in suspicious of his neighbor, and, until report
on that time uD founded, was circulated in the af
noon that tie government had authorized the b