Alexandria gazette. [volume] (Alexandria, D.C.) 1834-1974, 1890-11-17
a Great Banking House.

Barring Brothers & Co +, 10 liquidation
Next to the Bank of England this house
has been regarded as absolutely invincitl.
Not ony its vast wealth, but lite exception
ally high character placed it upcn The very
pinnacle OF public esteem.
Early ia August last, following the revo-
luton in Bueuos Ayres aud the depreciation
of Argentine securities on the London Stock
Exchange, rumor made free with the meme
OF the Earrings, bat the possibility of their
becoming embarrassed slmost trsuscended
belief. The disturbance caused by ship
mepts of gold TO the Argentine and the
drafts made upon tha centre to supply
portion OF the demand Kept these fumors
alive for time, but they died away In SEP
tembsr and were not revived undi few
dsys ago, when he cable brought news that
an Important finn was in trouble, vaguely
limiting at the Bsrines.
l. Is startling to think of the consequences
had not the Bank Of Eogland, the Roth
schds and other financial powers come to
the relief of the overloaded house. TIE
crash that followed the failure of OVereDd
Quincy & Co.. in 1866, With liabilities Of
fourteen mil ions sterling, is even DOW dis
tressingly vivid in the public mind. They
manage tbes. ,biogs better nowadays, and
no fioancial institution either hare or abroad
will be permitted to actually iaiI if it has
been conducting 81 honest business and
shows its hand ia time. The action of cur
own city banks the other day In making up
the deficit balances of three deliDguent5 at
the clearing house and Issuing cerll6catest to
them was in small way quite ip the lice OF
what has ust been doue 10 London.
10 the hands OF euch ekilful fnanciers as
have cone TO the relief of the BatiDgs, their
assets will douStess pe carried atcDg and
sold to the best po' abe advantage; but
from the me gre details st hand it would ap-
pear that n ne X contracts of any kind will
be made, and that the Hoase IL ,ittuaty 10
liquidation to-day,
The mysterious n farncs that - long de.
pressed cur o k uisrket in face # sGpai-
ently favorable conditions l. row explained.
Doubtless the embarrassed fro, disposed OF
its "Americaue" as among the most await
able of its RI sources, aud ths few in high
places who may nave knssn rs p 'sition
have also urqu estionaoIy tie selling 20 et-
cape The creen which would have occurred
but for the bod and clever 8 roke ny which
the disaster hrs been aveEte6.-NeW York
Herald.
A dispatch from London says: Toe gov
eminent has authorz d The Bank of EGG
lano, II necessary, 10 issuS al 'ouitIouai
G2O0O0O0 in notes sDd will suspend the
bank act If requisite The original cause of
the firms trouble was Russia's withdrawal
ofseversi millions deposits, on learning Of
the firm's dealings in Argentine and Uru-
quay bonds. II is expected incoming n
Vestors will gradually relieve the strsin on
the market"
Another dispatch says: The Bank of
England. which is given the credit of saw
Ing the BarinaP, or, rather, their credit, is
not entitled to this high distinction II is
not more than week since the B4uk OF
France paid into the Bank Of England the
sum OF 100000 10 good to mseU the de-
msnds OF its clients aud customers in Egg
land aud America Il was the great house
of Rothsohild that saved the Barings and
brought confidence to tine bankers of the
metropolis and formulated the plan for pro-
tecting the credit of the embarrasse9 fl a."