New-York tribune., 1878-12-19
FOREIGN FAILURES AND DISTRESS.
THE WEST OF ENGLAND BANK DIsCLosUREs-THT
FAILURE AT STOCKHOLM.

FAILURE AT STOCKHOLM.
LONDON, Wednesday, Dec. 1s, 1873
In its financial article The Times says: "The
more recent regarding the state Of the West OF
England and South Wales District Bank has unquesion-
ably done much mischief and strong complaint is made
that the truth not made clearly known the
date Of suspension. Instead oi telling the worst
they doubt could have done. the directors suffered
people to nurse the delusion that the suspension
due to perncious run, and that therefore the bank
might easily be in some form resusctated; few knew
probably lost but the mass the people believed
the more ideal presentation OF aiirs The result OF
this concealment has been TO renew aud intensity the
feeling of distrust which beginning 20 die away.
Men saw with Justice, they can no longer believe what
they are told by bankers, and the siest rumOrs
endowed with tenfold power OF mischief. 1t is pro-
foundly TO be regretted tuat the credit OF the banking
community should be played with and shaken in this
fashion, l1he report OF the Investigation committee
OF the West Of Epsland showed that the capital aud re-
deficiency of 81 100000 for which the shareholders
tablet
HEAVY FAILURE IN SWEDEN.
Advices from Stockholm state thar another flrm-T.
Hirsch-has failed, with 100000 crowns lSsO4,OOOl
liabilities, ITS difficulties having arisen through the fall
In the price OF rOn and also from Improbable opera
ons in building and land The assets reported to
be sufficient, but this considered doubtful The firms
which nave lately failed believed have been kept
going by banks long after they should have gone into
llqudaton. rather better feeling prevails sweden
wiser than in other parts OF Europe and hold TOO mauy
securities and too small proportion or capital
SOME REPORTS EXAGGERATED.
In the House OF Commons last night, Mr.. Cross,
Home Secretary. answering an inquiry whether it
was true reported, that face to face with
such crisis OF distress this generation has never
known" said though much distress unhappy prevailed
among the labOring DOOR the description OF II In the
question exaggerated; there nothing to cause
unnecessary alarm. He read telegrams fron the head
OF the Board o & at at saa the @ NAY.
Of relief were at present sufficient TO meet
all necessities He had not had time TO inquire into the
condition OF the coal and iron districts.
THE CONDITION OF THE COUNTRY.
At Birmingham a meeting, convened by the Mayor,
was held yesterday to consider tue best TO relieve
the Distress which is declared to be exceptionally
we're and increasing daily The Mayor requested to
organize for raising and distributing relief
At Sheffield 1000 children and 5000 adults received
aid last week The Mayors relief fund amounts to
$4,000.
At stockton the distress is increasing Hundreds OF
the families OF ironworkers destitute, and inhu-
ential committee is canvassng for subscriptions and
contributions At Stoke-on-Trent great distress pre-
walls, which is enhanced by the severity OF the cold
The Distress Committee is unable TO keep pace with tho
Ma9or Ve.terday to take to alleviate distress
Great want is being felt by the aborne classes IN orh
men Al waea on the @aates snd
asked for employment. The magistrates authorized
At Glasgow the depression and distress are uneI-
ampled The streets are swarmng with idle and stary,
II
magistrates organizing thorough relief for the
most urgent distress Dundee dispatch there 10
much misery that part OF Scotland. No adequate
for relief have been organized in the northern
tural aborers destitute. In Aberdeen Foriar and
Dunferline private charity and efforts OF the mas-
trates are actively employed
Al Manchester numbers OF the middleclass poor,
who will not appeal 10 charity, are suffering keenly
vigorous and combined effort the part sf the
authorities, churches and private organizations
ia being put forth. Liverpool dispatch says
it has been many years since the working classes
have endured such distress and priva'ion as now.
An excellent system OF relief Is being organized.
people and there much suffering. There Is organ
lied relief beyond the ordinary parOchal fund as yet
Wgap aGyices say there considerable distress among
the better class OF mechanics and workmen Wolyer-
staffodhre and relief the shape OF food, coal and
clothing is being distributed
CARDIFF FIRM BANKRUPT.
Zubina Co.. iron ore importers OF Cardiff and New
port have failed consequence Of the stoppage Of tho
Tin Plate Works OF Booker Co.. Swansea. whose
bills Zubina Co. held to large amount This failure
will considerably increase the Liabilities OF the west Oh
England Bank
THE OLDHAM STRIKE.
Repors of several district meetings OF operatives last
night in the Oldham district generally unfayorable
to q compromise.
FAILURE OF MECHANICAL ENGINEERS.
Fox walker Co., OF the Atlas Engine Works, .Brid
tol have failed. Liabilities, 100000.
HALIFAX FIRM's LOSSES
HALIFAX n. g. Dec. 1SThe liabilities OF w. c. Bren-
nan & Co.. dealers IN boots and shoes. who recently
failed, are stated at S6S.0OO.