The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1878-10-04
i. LATEST FOREIGN NEWS.
Eng,Iapss.s

o.
81 LoNpoY.a October 8.--The bullion in the
Bank of England decreased .ET6,0 600 during
the past week. The proportion of the Bank
Bof England reserve. which last week was
40 per cent. Is now 400 per cent. ~ -
Peter Fronnn. the self-confessed muir
derer from Bull river, South Carolina. was
again before the Bow-Street Police Court
to-day. The extradition papers were hand
ed to the Foreign Office Oh Tuesday, but
have NOT yet reached the Magi strate, and
Fromnn was reman ded until Wednesday
next. Alter reeommittal, Froman escaped
from his cell in Bow street and made bis
EEwayto the roof Of the building, when bis
flight was discovered and he was recap
tured after q desperate struggle. .
THE FAILURE OF THE CITY OF GLASGOW BANK.
LONDON, October 3.-The ISmes's tnan-
cial article says: s.The City OF Glasgow
Bank had 1873 branches. 1t has paid pro-
gressiVely-increasing dividend for several
years past, until it reached IL, per cent. It
would be incorrect TO say that the disaster
was unexpected. On the contrary, in bank
ing circles 1t created no surprise, for the
bank had been losing credit gradually for
ten years past yet the Scotch banks in Lon
don were not in possession OF information
which showed that the end was actually
near until Tuesday morning. The business
Of the bank had been conducted for years
upon very unsouDd principles. Operations
upon an enormous scale had been indirectly
entered into on Indian produce and Austria
liam wool, some S14,000,000 OF bills having
been accepted for account OF three firms.
Very large advances had been made to hrnis
in the iron trade in the north, and utterly
reckless support appears to have been given
to. builders" .s...s
The Times further says: "We believe
we are right in saying that this deplorable
catastrophe is. with reference to the Scotch
banks as whole, entirely an exception,
and that no other banking institution in
Scotland is in any way mixed up with the
City OF Glasgow Bank, or been engaged in
business OF the kind which led to this fail
ure. Attempts have been made IN this city
TO complicate matters by saying there was
panic, but there has been no panic"
The Findncier anticipates no additional
bank failures, but says some mercantile
failures can hardly be avoided, which may
extend into the iron districts in the north
OF England.
The Hungarian Ministerial Crisis.
LONDON, October 3.-The Manchester
Gudrdidn's Vienna dispatch confirms the
report that the Emperor has accepted the
resignation OF Won Sell, the Hungarian
Minister of Finance. The other ministers
will only withdraw their designations upon
acceptance by Government o. the follow
ing conditions: The issue Of a joint Aus
tro-Hungarian loan; the conclusion OF Il
convention with the Porte; the reduction
OF the army in Bosnia and The abandon
ment OF the occupation OF Now Bazaar. The
latter condition has been already accepted.
The second depends On the Porte. The
Austrian Cabinet oppose joint loan, which
would reduce the Austrian credit to the
same level with the Hungarian therefore,
a conflict between the two cabinets is I'M
minent.
PESTu, October AT council OF the
Hungarian ministers to-day, all resolved to
support Herr Sell, and signed their rcsig-
nations, which Herr TiSZa, the Premier,
will personally deliver to the Emperor To-
morrow at GodOlls.
VIENNA, October 3.-The Emperor left
here tonight for Godolls, in connection
with the Hungarian crisis. ...
General Grant in Paris.
PARIS, October 3.-Minister Noyes enter
tanned ex-President Grant at dinner to-day.
Among the guests were General and Mrs
Grant, Messrs. John Welsh, John A. kas-
son, j. Meredith. Consu!-General FMrchlld,
and others.