The Fairfield herald. [volume] (Winnsboro, S.C.) 1849-1876, 1867-06-05
From the Charleston Mercury.
Fraser, Trenholm & Go.


The announcement Of tho suspension
Of this house was received day before
yes terday by Mcssrs. John Frazer &
Go here, and we understand it was as
great surprise to them rs the telegraph.
ic dispatches, published in our ycstcr
day mornings paper, were a subject o
as'onshmcnt and regret to our entire
community.
Nothing is known as to the liabilities
OF the suspended house, nor as to its
prospects of Obtaining sufficient cxtcn-
SION to enable it TO make the most oil
the large stock Of cotton known to be on
hand.
The firm in Charleston. whose business
has been chcll y upon account Of other
parties OF known responsibility, will, no
doubt. become embarrassed by the Iiv.
pool suspension; butthrir heaviest en-.
gagcmcnts had run of, and we under.
stand their present liabilities are not
large IN proportion TO the supposed mag
nitude Of their business. The ultimate
position, we should think, must depend
npon the event III Liverpool. For,u.
uatcly the house there is represented
by gentleman no, merely Of high in
tcgrity, but Of business capacity and
nerve equal to the emergency.
For some City years this house has
stood amongst the foremost mercantile
houses OF the United States; and, al.
though, by The course OF time, many Of
its members have changed, the strong
ground Of integrity, fidelity and skill,
on which it was originally built, has
carried it through all the financial con.
WILSON'S which duriug that period, have
shaken the mercantile world Of England
and the United States; aud never was
it supposed to possess higher elements
Of mercantile honor and ability than
now preside over its extensive interests.
Why the firm in Liverpool suspended
payments, we have no means Of account.
ing for, except the fall in the price Of
cotton, with Il failure to obtain the bank.
ing facilities formerly extended in Liv
trpool. 1t is well known. that carly
in the season, Tho Bank Of England dc.
iibcra,cly adopted the systematic policy
OF refusing accommodations, previously
accorded, to those engaged in this trade.
The c!lrct has been to put the holders
OF cotton in the power Of the buyers !;
aud tVr merchants, factors and planters
Of the South have, in tho depressed
prlcc OF cotton, throughout the Spring,
felt the nalolul influence Of tins gigantic
controlling institution. The suspension
Of this house, we believe. to be only the
illustration Of facts which bear heavily
upon us all. 1t may be hat, rather than
sell the cotton they hold at the depressed
prices, oocasioned by this bank policy
and aggravated by tho passing apprc-
tensions Of war in Enropc, the partners
IN Liverpool preferred, both on account
OF others rs well us themselves, to Gus,
pend payment temporarily, and hold Tie
cotton to realize the full amount OF adj.
vanccs, accrptmnccs, &c. This would
be M awkward and painful alternative /;
but, under such circumstances. the s,is.
pension would in no considerable dc.
gree affect the resources Of the con-
ccrn.
This great house seemed the Chief i
not The only steady light burning amidst
tho mercantile gloom which rests upon
our city and laud. With feeling OF
deep sadness we record its suspension,
yet We cannot bu, hope that, under the
guidance ofthe able and honorable gen.
tIemcn who now rule lis destincs, it
will again arise in all the splendor of its
former enterprise and usefulness and
power. IF they had acted from mere
motives of interest. they might have
left us, rs others have done and gone
to other lands, to enjoy the alllncncc
they possessed. But they have preferred
to stay with rs in our ruin aud strive
again to redeem The the commerce
and fortunes OF our dcsolatcd city and
country.