The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1878-10-17
Effect OF the Rise in the Bank Of
France Rate of Discount.
CONDITION OF GLASGOW.
Prospect OF a Rich Harvest
for the Lawyers.
INSTRUCTIVE FIGUR ES

The HERALD correspondent in Paris tele-
graphs under date of yesterday as fol-
lows:-"The Bourse was agitated to-day,
and the variations in quotations were inces-
SAINT from the opening to the close. This
was caused by the fall of the German mar
kets and the announcement that the Bank
of France had raised the rate of discount to
three per cent. The liquidation of the
fortnight was effected under unsatisfactory
conditions. The closing prices were:-
Five per cent rentes, 112f &c.,; do. threes,
TAI 8Oc. Italian fves. 72f 7Oc."
CONDITION OF GLASGOW YESTERDAY.
From Glasgow the HERALp correspondent
reports as follows :-'Another local failure
to-day swells the list of disasters in this
afflicted city-viz., Brown, Mcleod &
Adam. fancy goods manufacturers. Their
liabilities are s16. 900. Other failures were
freely rumored during the day, but none
were definitely announced, owing to this
"wednesday being settling day. Business
at the Glasgow Stock Exchange was. re-
stricted and prices were steadier and even
frmer. Pig iron quotations were slightly
improved.
THE COMING OFFICIAL STATEMENT.
"The official statement ofthe affairs Of the
broken Glasgow Bank is in course of prep
aration by Dr. McGregor and Mr. Anderson,
and is expected to be submitted to the di-
rectors on Friday. It is uncertain whether
the document will be published previous to
the meeting of shareholders, which has
been called for Tuesday, the Cad.
HARVEST Fon THE LAWYERS
"The bank catastrophe promises to afford
q golden opportunity for the lawyers P.
Abernethy Il Son, warehousemen and manu-
facturers, bring m action against the City
Of Glasgow Bank for the delivery of bills
amounting to three hundred and odd in
number. Abernethy 4 Son had an account
current. with considerable balance, but
the bank refused to retro the bills out Of
the funds in its possession"
POTTER, WILSON / CO. g AFFAIRS.
Statements have been prepared Of the
affairs Of Potter, Wilson d Co. Their
liabilities are s216,1 assets, E162, O39
On the debt side, and not included in the
above totals, appear the following items:-
obligations on account Of City of Glas-
cow Bank. bills and credits for third par
tics, wholly or partially secured, .155, s70
Contingent liabilities on consignment
and other bills estimated to be fully COW
cred, s32, 1872"
In the same way on the credit side is the
item:-'.Securities held as trust for the
City of Glasgow Bank, credits and other
guarantees, Elsa, $780,"
PoTTER's PERSONAL ESTATE.
Lewis Potter's personal estate shows,
liabilities, ZIG, 451; assets, s144,8 The
debit side is composed Of two items,
namely
.City Of Glasgow Bank for advance on
G., 200 bank stock and calls thereon,
50, asa"
obligations on account Of sundries,
E14, 1000"
THE GENERAL FEELING.
firm OF local iron brokers failed at Gas
cow ON Tuesday. Their liabilities are
be heavy, have occurred, but they
have no, yet been ofncially announced. The gen.
eral feeling is more quiet, but private anu Joint
stock banks still refuse accommodations, and
throw this class Of business entirely upon the
Bank Of England, where as much as eight per
cent was charged Tor loans yesterday
should the Bank OF France raise It's rate OF
discount tomorrow, an predicted IN some
quarters, a further advance In the Bank
OF Engand's rate is deemed inevitable.
on the London Stock Exchange business is almost
at standstilL Four inconside rable failures were
declared In the house yesterday.
UNITED STATES BONDS.
Tho Times In It's financial column says:-"From
100000 to $3,o00,0oo worth OF United states
funded bonds have been taken for America within
the last three days"
GLur or COTTON IN LANCASHIRE.
The CLINT OF cotton goods in Lancashire Is simply
unprecedented At Preston, Nincmo's Mills with
10000 spindles, and Sharple's mills, with 80 800
have ceased running. norrocks, Miller & Co, the
best known firm In the north OF England, have
adopted measures to restrct production in their
mills.
[From the Evening Telegram Of yesterday
ESPECIAL CABLE D EspATcH TO THE rElEoRaM.
LONDON, Oct 10, 1873
Five failures Of brokers are reported this morn.