Mineral Point tribune. (Mineral Point, Wis.) 1869-1938, 1878-10-23
FOREIGN NEWS.
BANK OF ENGLAND IN TROUBLE.

BANK OF ENGLAND IN TROUBLE.
London cablegrams of October 10th
say that firm OF local iron
brokers failed at Glasgow yesterday; IL
abilities $4,000. Two other failures,
said to be heavy. have occurred, but
are not vet officially announced. The
general feeling is more quiet but pri-
vate, and joint banks still refuse accom-
mediation and throw this class of busi-
ness entirely upon the bank of England.
whereas as much as eighth cent. was
charged for loans yesterday. Should
the bank of France raise its rate of dis
count tomorrow, as predicted in some
quarters, further advance on the bank
of England's rate is deemed inevitable.
Later dispatches of the same date re-
port that Oh the stock exchange bust
ness is almost at stand still. -Four
uncomfortable failures were declared in
the house to-day.
Still later it was announced that the
bank of France has raised its discount
rate from 3 to 3 per cent. and its loan
rate from 8 to 4 per cent.
AMERICAN AWARDS AT PARIS.
A Paris dispatch of the 10th
inst. says it is now Officially
known the awards to the American ex-
hibitors at the French exposition num-
Der $50, namely. 10 grand prizes, 30
diplomas of honor, 1874 gold medals, 20
silver medals, 220 bronze medals and
l56 honorable mention. The aggregate
is larger than the whole number of
American exhibitors at the Paris expo
sition of 1867, or at the Vienna exposi-
tiCn of 1873, and is larger in proportion
than the award to the exhibitors of any
other nation represented at this exhibit
ton.
THE ENGLISH PANIC.
A special cablegram to the New York
says: The London Stock Exchange, at
the opening, showed evidences of a
better feeling, Later, however, the
tone of the money and stock markets
became uneasy. The directors of the
Bank of England met twice during the
morning, and at second sitting raised
the rate of discount to 6 per cent.
Money was scarcely obtainable late
in the afternoon, and the fears OF
crisis to-day are renewed.
The days of sadness for the unfor-
tunate shareholders Of the bank of
Glasgow have come. A demand was
sent out yesterday calling upon them to
pay $500 as first call upon every flOO
worth of stock in their pos
session. This will bring dis
tress to many of the middle class
throughout Great Britain. This opinion
is strengthened by the feverish condi-
ton of trade all over the country.
L ID. Finlay & Co., East India mer-
chants. Of Glasgow, have suspended.
Their liabilities are 81 100000.
These facts, taken in connection with
the previous condition Of the market,
render the business outlook almost des-
perate.
SILVER BULLION.
A London cablegram of October
10Th says: The Times iinan-
cial article says the silver market con-
tinues weak. There is very little in
stock, but holders would be glad to get
sid per ounce; purchasers show no de-
sire whatever to give orders and bust
ness is a. a stand still. Everything con-
nected with the market at present
points to an inevitable further reduc-
ton.
THE RUSSIANS MARCHING ON ADRIANoPLE.
A Constantinople dispatch of the 14th
says the porte has received information
that the Russians have recommended
marching on Adrianople, presumably
from the north. All foreign military
attaches have left Constantinople. To
verify this intelligence Prince Labanoff
starts for Adrianople to-day. A later
dispatch reports that the Turks occu-
pied Bahoeski when it was evacuated
by the Russians. Gen. Todlebin now
summons the Turkish commander to
withdraw from the place. threatening to
take it forcibly. Safat Pasha has con-
sequently ordered its evacuation and
the Russians will re-occupy it. The
Turks have mounted guns on the Con-