Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1878-10-05
BUSINESS TuMBLEs.

BUSINESS TUMBLEs.
LONDON, Oct. 4.-The total liabilities of
smith, Fleming d Co., East India merchants,
whose failure was announced yesterday, are
estimated at over 91O,OOO,0OO. The liabilities
OF their corresponding firms which fail with
them, W. Nichols & Co., Bombay, and File m ing
d Co., of Kurrachee, are doubtless considerably
less. 1t is understood, however, that in con-
sequence of exchanges of paper between the
bank of the City of Glasgow and India houses,
the same set of liabilities will be found re-
peated In the balance sheets of all these failed
establishments.
The Financier says "1t is morally certain
that all firms concerned in this sort of circular
bill flying m ust succumb. One house in Scot
land and Australia is concerned in this paper to
the amount of $5, 100000. One doing business
in Scotland and the East $2,5OOOOO. One
located in India owes $8,000,000 for accept
ances, and So, 500, 900 for cash advances. Three
other affiliated Indian houses aggregate an in
debtedness of $6,25O000.''
The Findncier estimates that the share
holders of the City of Glasgow bank must meet
deficit of $2,0OO00O, placing the fail
ure among the most disastrous record.
The Times, in it's financial articles, says that
the condition of the city should be the same as
IT nothing had happened is not to be expected,
but beyond a little difficulty in dealing in some
pubic securities, which rule are readily
negotiable. nothing unusual has occurred.
Money Is in rather more demand and about
~ per cent. is ebtainable for best three
months RENTED bills. call for Bank of Eng
land notes by bankers and others made the
pank return worse In its proportion of liabili-
ties to reserve by nearly nine per cent. than
would have otherwise been the case and the
reserve has fallen about million and half
10
some gold for currency purposes. The Glasgow
He'uld says rumors are current that some of
the directors of the city of Glasgow bank re-
celved enormous advances out of funds they
were administering.
LONDON, Oct. At is reported that large
ship building firm in Glasgow has failed.
GLASGOW, Oct. 4.-Potter, Wilson & Co., ship
owners and colonial merchants have failed.
Liabilities estimated at So 100000. Mr.. Potter
is one of the directors of the City of Glasgow
| bank.
| ALBANIAN MASSACRE.
CoNsTANTINoPLE, Oct. 4.-The government
has received intelligence that Taad Gelden
Pasha, on announcing that he had received or
ders to surrender Pedoritza to the Montene-
grins, was killed by the Albanians, and 1856
officers and men under his command mas
sacred.
AUSTRIAN OCCUPATION COMPLETE.
]
gram has been received: 'Serajevo, Oct. A.
The Anstrians entered Vizgrad this morning
unopposed. Insurgents evacuated their en-
trenchments, abandoning tents, cannon and
ammunition. The Austrians entered
Goresda yesterday unopposed and to-day oc-
cupied Cajnica. The district of Terpa is clear
ed of insurgents. Thus the whole of Bosnia
and Herzegovina is subdued and the country is
in our hands,
CHARITY REMEMBERED.
PARIS, Oct. 4.-Le Temps makes an appeal
for suffers by yellow fever in New Orleans re-
calling the fact that Louisiana sent large sums
of money to France in lS71-72 and rs.
EXCITED ITALIANS.
FLORENCE, Oct. 4.-The population is excit.
| ed because member of the internationals has
been killed in duel by an officer of the Ber-
sagtlere regiment, stationed here The troops
! are confined to the barracks and it is hoped
the agitation will subside without dis
turbance.
PRINCE LOUIS BETRoTHED.
LONDON Oct. 4.-The rumor of the betrotba
of Prince Louis Napoleon, son of the late en-
peror, to Princess Thyron, daughter of the
king of Denmark, is revived in the London
correspondence of the provincial newspapers.
ANTI-SOCIALIST BILL.
BERLIN, Oct. 4.-The government will proba-
bly, adopt the anti-Socialist bill as passed
through the committee. as conferences Wednes-
day night showed there is fair prospect of
agreement in the Reichstag on amendments
satisfactory to Bismarck concerning the sun
port of the law and the retroactive clause
for suppression of newspapers for articles
printed.
MUST RETIRE.
VIENNA, Oct. 4.-The political crisis is becoln
ing more serious. Members of the TWO cabinets
will only consent to retain their portfolios on
condition that Count Andrassy retires. The
Austrian cabinet considers his financial de-
mands inadmissable.
TOUR OF INSPECTION
LONDON, Oct. 4.-The troop ship Himalaya
will sail from Plymouth to-day for Marseilles.
where the lords of admiralty will embark
for tour Of inspection Of Malta and Cyprus.
FRANCE RESPONDS.
PARIS, Oct. 4.-Waddington, minister of for
eign affairs, has RENTED 500 francs to Minister
Noyes for yellow fever sufferers.
THE AFGHAN WAR.
LONDON, Oct. A dispatch from Bombay
says four of the Ameer's infantry regiments and
SIX guns are stated to have arrived in front of
Ali Musjud, a short instance up the Khyber
Pass, and have advanced within three miles of
Jamrud, at which place detachment of British
troops has arrived. Much larger bodies Of At
CHAN troops are on their way down. These
threaten to attack the Khyberos for having
allowed the British mission to penetrate the
pass. This would throw the hill tribes into
our hands. 1t is expected we will assist them
if the Ameer should attack them Probably
our first advance will be into the Koorum val
ley. The Afghan troops and guns NAV be
taken from the Ali Musjid fort, and we will
occupy some of the minor passes. Hostilities
may begin any moment.
HUNGARIAN CABINET.
VIENNA, Oct. 4.-There is no settlement vet
of the ministerial crisis. Changes in the Aus
trian cabinet it is believed will only be par
tial. The Austrian and Hungarian press think
Herr Tisza will remain at the head of recon-
structed Hungarian ministry.
RUSSIAN LOAN.
BERLIN, Oct. "A fresh Russian loan is
forthcoming for the purpose of redeeming
portion of the paper currency issued during
the war.
CONVENTION REJECTED.
LONDON, Oct. 4.-According to kilograms
from Vienna and Constantinople, Turkey has
definitely rejected the Austro-Turkish con.
vention.
LAYARD'S VISIT.
VIENNA, Oct. "A Pera despatch says Min
lister Layard's journey to London is caused by
the Porte's refusal to adopt the English project
for reforms in Asia Minor without important
notifications.
THE AMEER's GAME.
LONDON, Sept "A dispatch from Simla
confirms the report that the Ameer is endeavor-
ing to intimidate the Khyberos by reinforcing
his troops in the Khyber Pass.