The sun. [volume] (New York [N.Y.]) 1833-1916, 1878-12-09
FAILURES IN GREAT BRITAIN
,rJy r0LLOWfN0 THE COLLAPSE OF
r,il, cry or GLISGOW BANK.

,I',,,,,on Bank stock Depreciation.
,o.poS Nov. 20. The collapse of tho |
-.,,,n Glasgow Bank has been followed by
H', of ,hrr business disasters. a large num-
,.,f,bi,l are directly due to the suspension
:, a., hank. The greater number. however.
,.. .unootcd with II. but are due to the
',,., Impression OF trade that came upon the
IT. ,iu., cightecn months ago. and which
linn st,adily and rapidly growing worse
.,.r.iu.c. Every Jay tells new list of dis
..,.r. t..-' 81 which are in the great manu-
1.,.ri,, industries ufthc country Everything
49,. n.y. moro than ever before. rapidly
..,,i... sill .iurrisls as has not been known
a,nna, least thirty-nyc years.
r..rIii Hf.i.ht hy the failure Of the city Of
c...g,,, Bank il simply terrible. II will ruin
n.,r.rcwao.r body Of shareholders. of whom
H.. ,url.r D.. about 25n 1t hns already
Jr.c.l i.Nu moro than $50 other firms. with
i,DIt.,- oi fully sl2j.OuOOUO, and. doubtless.
r.r..tfrstli To- come; 1t has shaken the faith
Attn. shareholders ot all other unlimited bank
b..ori. .r.ti.i- to such degree that the mar
l.t,ul.uf tho bank shares 81 the whole king
d,u -lr.nN by the amount OF s93 OOc 600 be-
,v..uil. dates % O I. 1 and Nov. 20; and lastly.
tt.. Greatly diminished the confidence OF the
,aI.. ni shares of all Joint stock companies
a .-.rt,r hrdepOsitors Of the brok, n bunk
nlw."r "' r 1'"', "h' oi 'n'sc. no 80 ''''h
aD'"re rr'dl'i7 loi SUNS % ''oo "u" nl''''
j w.l' d" seen ih"' inc Ei'"' n'"ss u 'hc u'I"S,
ii0r- are persons OF rather h''''vu n'""s' """
very large NUMBER are sinai U"uesh'h
Whoseof'lrs are sor'iy sra't'neu oy III, io'A-
its 100 "i ihe money 'ha' was heiu ior oru'h"rS
business purposes. and on which they were al
t.0.ttlaiiv obliged 10 draw. Many OF these are
4. .l..1 . -
k.f from i"hhr"p''S S"lc'S ny tue l"'"c"i"h'v
f,fhrir creditors. who know the extraordinary
.,...- t,r,l.r which thrv are placel
vi, 700 - ,t,., ci,,.,t cl.s.,,,,,. NIL.
Iir-i -i""7,"n "l u'v ny VI Ni"ShoN """N
W.. anu. uurDd on oct. !. Tho deficit WIZ not
,.,....t ,i,ve 500 OOO 600 and mnny mt IL
u." -. -. M. -, -.
ut above hNl ihN sum- lhv amount EtcW
rapid, however,. from day TO day. On OFT 10
,a,.,.rtofth. ncrsnns nppointed TO examine
w ~ A.. -. -. -. -. -
hc ac'' uh'@ "l inc "'"heh oahN wis puo
ushed. and the amount OF the deficit then stated
...,..l,d .,.rvhoIv Tho pross liabilities
'S''' ~ -, =. go ONO onn ~.
m.y b" tuuudly stated nv su"VVUVVV. inc
d,fstt WAS nut at about G5.25O 600 sterling
w.. t,eotoo on. The copltal had also been
hf f%'-"''v''' ~. e"p''"' ""N "'
tunk and mat aided SoVou'uOO more 10 inc
losses 81. the net loss then seemed to be about
t3l25ooo. Tho liquidation will extend
through many years and though the depositors
,heir ,l,in,s n,os,lv satisfied in n wear
orwo ihc shareholders will by no means bc
stle 10 furnish the ready cash 10 pay these
c..cs Tbrr orn assets must also be- real.
c"'us' i"'" NV" "sso9 mus az ~ 80 -,
EHi ana tho d'posltofs Will really DC phlu
mostly IN borrowed money. and on this tho
Ill fir. mn, ,o,, ,ntoros, through ,ho
t'"'V"0''''' '"' ~,
long years OF the liquidation. Inc legal eN-
ucnses ~ the winding up will also be immense
,ff,...r ,i,,s., tome ,bo an fortunate holders
At4NE m l' Wv & I'm -, ~ -,
- t' 7i'"' -. 10 ,t,', IN, -, -, tr, ~,
~ hn less thHh soo'uVUNv, 70 pay nclore ulcS
't 0Ti -.ali nf ',3 i6o nm each s50O share hn.
"iS' I'M ~ $500 o. 1r ,,,C install
5n 'un i ~ bii'u ~ !" ri1s viii oxb,,,s
H. ne. ".'" - M lcasi onc. haif-nrohnbiv two
H. in'"ns na igast & r3oi iw
W. ~ I'm JIM in,vn,I1a1 AZ mineil,
" % 10 htA = Nv ~ 49,; 10 I'M NM
". 'Nu sn1uli .ca,ina nDuu. :, -, ,h
G WIZ tto.auy not renlne ,i,oig ,,iait
turths,n ~ thW cun; AinohI tne Snnl,nolloi .
s,V SiG w. uv % go ps ~ ,stc s,en
nv ",',Msi 70 30 9 ~ - 49, 40 ,,,iris
II ~ @ 80 ,alu.o, , H. ny ali ,h H.,
UT l.rsa MAKE up NOR INN I'm III
Eat sif,on s6iiIinrs on the nonnd in salts
t,Nn nVSni niiis ~ ,,, .bts thev M aro no
Ssry III VIE reIjcf ,nnd Tor The benef
ny tor reli IL bae Jnr roised and m,
o. Iu'n'n ~ - n,'iL i.rbiv arrow
n 35n nno I, is inicnd"d a. make IL mn
h zoo 000 and that sun win be easily rcache,
= a 80. Nv ,ac1 "a 80 wa
II H. u'' n"ines Of The directors Of tho Clr
~ Glas,,~Vv RANK are R1bort Salmonl
LOWS Potter. John limos Wright. William
a"y!or h"nf r dnGS. nre In prisr
nnI ,h.r. tIov arc nkely ~ reunf
SWauinp rial ran ms boon refused Srotc
iu.tin' IL ,'nariliy swim sure. and severe am
tbrs,. seven HIGH bred. canting scounlrrls vii
doll tle,s get Ilstice Ia The fun measure OF Il
In tLa nrgentit ',as. however Justice il pNactl
Wunt tho culprit. 10 not want Only "A tow day
before the critsh thew had tho impudence 10 am
nnuner hint the Affairs Of tho bank were in
f.nri.Dfur condition. and thrv even went F.
nr a, h. declare "A handsome dividend. Tn
PERSONAL estates oi the directors turn ont hadl,
Ind very little /. Ia bp had from any of then
Tho affairs Of Henry Ipglis director are state
f.r- ~ sIIINUN and assets f2Gu 600 The nrr
cf Potter Wilson 4 Co. Potter. director. ha
49,. ;4ia iq55" Tntter's iniiyfiHni estate
Ms. ln "a hnl mess Tho firm of John Inn,
Wright 4 Co has nlso gone 10 the wall lWrigh
lirrffOrl with liabilities of 81 900. 600. and "a,
s.f- .rIy 5000 900. These firms Of which thes
directors are members. nra not in any way cor
rrf,l with the G lnsgoy Bank and the account
o.. entirely separate from those OF the bank.
l.fV,ou oct. and Nov. 20 the entire ban
- 81 England ana Wales Deprecated hy IN
amount ~ so n5O 600: OF Scotland Sal .25O.Oui
ana ol lreluud ~ $50. 900; total in Unite
rct .nI con i50 900 In other words III
mlr,,t value 81 the bank shares of the kim
dom 40 OFT was ESP $50 600 and on Nov. q
s17l4nHtrfu: loss In vnue Sq3 1870 600
Irn tae susnrnsion Of tho bank. sever
rrrIf arms whose business was intimately COT
A.r'al with thut Of tho bank al once went To ii
wal First came smith Fleming K Co.. wit
hai tics % Nj 600 Ou1 and upward. Their ~
te'e l.mn0taIie to state.
james Morton d Co.. merchants Of Glasgo