The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1878-10-17
EUROPE.
Com merciaI Panic i'm Glasgow


LONDON, Oct. ia firm of local iron
brokers failed at Glasgow yesterday. Liabili-
ties ESQ 900. Two other failures, said to be
heavy, have occurred, but have not been Off
cially announced. The general feeling in Lon
don is more quiet, but private and joint stock
banks still refuse accom- modatons and throw
this class of business entirely upon the bank of
England, wheIe as much as s per cert. was
charged for loans yesterday. Should the bank
of France rite the rate of discount as predc'ei l,
a further advance 10 the bank of England rate
is deemed inevitable.
On the stock exchange, business is almost at
a stand-stlll.
Four incOnsiderable failures were declared to.
day.
by the panic in the iron trade and partial
panic in the stock exchange.
Besides the failure of WesherspoOp, iron
broker large firm of insurance brokers at
Leith, with Glasgow connections, have placed
their books in the hands OF accountants. Their
liabilities are heavy.
Another Glasgow shipping firm is reported
failed. A committee of shareholders of the
Glasgow bank held meering Tuesday and
decided to send deputation to London to con-
suit with the shareholders there There is
some difficulty between the sellers and pur-
chasers of Glasgow bank stock as to settlement,
therefore no estimate can be given of the liza
bilities of Findley & Co.
Negotiating New Russian Loan.
The Russian minister of finance was at Bar-
lin Monday, consulting leading bankers ia re.
gard to new loaa. The minister left for Paris
Tuesday.
The report that the Russians had resumed
their withdrawal towards Adriauople is not
| confirmed.
A report that Layard, the British minister at
| Constantinople, had visited London, is declared
| untrue.
Won Beust's Appointment
A despatch from Berlin states that Count
| Won Beust being unfrieDdly to Germany, his
appointment as Austro Hungarian minister at
Paris has created ill feeling in Berlin.
| Germany and the Vatican.
The first basis for an arrangement between
the Vatican and Germany having completely
| failed in consequence OF the attitude of the
| Centre party in the Reichstag, a new aud less
radical basis will be substituted and the rela-
ton between church and state will be regulat-
| ed, as nearly as possible, in accordance with
the existing German laws.
Andrassy Sure of His Popularity.
Andrassy is certain of a majority in the
Diet, the Reichsrath and delegations, because
| of the belief that his policy does not contem-
plate pushing the occupation of Bosnia beyond
its present limits, and consequently that re-
| duction of expenses is possible.
| The Anti.Socialist Bill.
| BERLIN, Oct. 16-The Reichstag has passed
|
modified state of siege with amendments Of
fered by the Conservatives, giving the govern
ment greater discretion as to the propriety Of
proclaiming state of siege and expelling
suspected persons from town. On the final
paragraph being reached all amendments pro-
longing the period of the operation of the bill
were rejected and the paragraph passed limit.
ing it as proposed by the Committee to March
31st, 1881 1t will come up on the third read
ing Friday.
Convention Between Turkey and Crete
CoNsTANTINoPLE, Oct. 16 -Moukhtar Pashs
| has confirmed the announcement that he and
the Cretans have signed a convention. The
transfer of territory coded to Servia by the
treaty OF Berlin is now complete.
Kraima Subdued by the Austriaus.
VIENNA, Oct. 16.-Gen. Rhinelander tele.
graphs that the district of northern Kraima ha;
been surrendered after various engageme nts,
| which cost the Austrians 500 killed.
The servian Boundary.
BELGRADE. Oct. 16.-Differences have arisen
between the English and Russian delegates on
the Servian boundary commission. Both have
asked their governments for instructions. 1t is
thought the Albanians intend to modest the
boundary commission and a large S5rvian force
has been sent to protect them.