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    ' ' : ; .X . ' ¦ • .\ -V w<v ¦*- . ^ ••y...

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    STATE OF TKADE. A meeting was held on Mo...

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    AMERICA. The . panic appears to be over ...

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    ~ ¦ ¦ - ¦ . Vt At Last Some Explanation ...

    jbox is discovered containing the emaciated remains ; of a boy / marks on the skull directly suggesting 1 ; that death had been caused by violence . In Ireland , the Tipperary boys are awake in the old bloody spirit , and talking darkly of the coining long nights of winter . ' They scarcely « deiga ibo conceal tiheir sympathy with the murderers off Mr . Ellis . 'but ascc

    taking some pains to induce » belief that lie ih & s been killed ^ not for anything wilieh he had done in the exercise of his agrarian lagibts , but as r £ sta ® mtion . for a domestic treason , if any man objects to be murdered , in this way , statistics blandly assure bin that his death falls into ' only' so much per Cent , on the population— such is the security of life in a country which / & cv The event of the week has been the unsuccessful attempt to launch the Iieviathan . Vexations as the failure has been , it lias established one very important point , namely , the general sufficiency of the

    mechanical arrangements for getting the marvellous vessel afloat . Only one thing was wanting to ensure success—intelligence on the part of the subordinates chosen to app ly the machinery . The remedy for that defect will easily be found " the occasion of the next eifort to launch the vessel . And , meanwhile , if we have been somewhat mortified by the failure at ISliUwall , we have the gratification of an important success at Cagliari , whence we learn that the line of submarine telegraph has been completed between the island of Sardinia and the coast of Africa .

    Iaady HAiaasGrrosr will have it that the Derby jury have charged her a great deal too much for the expressions wMch she used towards 'that man HiGHMOEJB . ' To be made to pay 750 J . for merely saying that a certain parson was a low vulgar fellow , a bad character , so wicked that she wouldn't take the Sacrament at his hands ; that he pocketed the money given for the repairs of the church ; that he was always telling lies and never speaking the truth ; always playing cards and gambling ; and lie and his wife constantly drunk and rolling about on

    the floor!—for nothing more than those few sentences !—spoken by a countess , too ! The jury were a pack of mean-spirited ninnies , and their verdict was a ridiculous interference with the rights of countesses . Therefore , application was made on Tuesday , at the Court of Common Pleas , for a rule to set aside the preposterous finding of the jxiry . This was the answer of the Lord Chief Justice , who sat with Justices "Williams , Chowder , and "Willes : w We are all of opinion that there should be no rule in this case . In a conflict of evidence between Mr .

    Jcrares and Lady Habeington submitted to a special jury , it was very unlikely that all the twelve would have been of hostile politics . The matter having been submitted to the jury , and they having ^ found Mr . Jones ' s statement worthy of belief , and taken that as the basis on which ; thcv found their verdict , I , for one , have no hesitation in expressing my opinion that the damages are not at all excessive , considering the destructive character of the slander against Mr . Hichmcoie as a gentleman and a clergyman . " The opinion of the Lord Chief Justice calls for no comment . We arc proud to acknowledge that the spirit of , the English bench is seldom betrayed by itsjudges . Mr . Commissioner Ho : lroyd ' s decision in the case of Sad g kove and Ragg is severe , but not at all

    in excess of justice : he has refused to grant Ragg a certificate , and has suspended that of Sadgbove for two years . But we know that these bankrupts have only employed such means of raising capital as arc largely employed in . trade , successfully , and therefore undiscovered . The pemiciousness of such a mode of doing business is obvious , but it will require very many decisions like the present to effect a cure , or even a partial cure , of the evil . The case o £ - ~ Evans and Tiiorne , convicted of a libel on the ""^ Deputy Chairman of the Submarine Telegraph Company , is not yet done with . A public meeting , after hearing some explanations given , which , it appears , were not available as evidence on the trial , Las como to a decision adverse to that of the jury ; the result being that a memorial is to be forwarded to the Home Secretary , praying for a mitigation of

    the sentence . The plot thickens in the commercial world . TJie latest intelligence from America is dark and gloomy , although we can sec sunshino through the clouds . JTailures continue , and must continue , since the 90 , 000 , 000 dollars of ascertained bankruptcy cannot bo brought to a wind-up without involving

    many persons whose own proceedings have bee n 1 sound , 1 Ehe pressure , of coarse , has operated in this country . We iiave had our failures here ; they are annouaeed every day to a considerable amount . j At the same time remittances arc made to America on joirwt-tftock . property in that country ; some amounts liav £ also been sent against atapmeuts to this country in the absence of remittances to the

    other side , and money lias likewise been remitted to America for jp \ irposes srf investment speculatively in the present anomalous state of the market . At the some time , the flnx of gold from this country to the Continent has not been abated . It is maintained to keep up the appearances of the Bank of France ; the Minister of that country liaving issued a formal report , in which , amongst other efforts to show the brilliant state of French finance , he cites a large balance of imports of precious metals over exports within the last ten years , and even of 62 , 000 , 000 fr . within the nine Tnorrtlis of 1557 . This is asserted in a report on the Budget of 1 S 59 ,

    which boasts a balance , without alteration of taxes , of 4 S , 0 OO , O 00 fi \ , whereof , in order to make a theatrical effect , M Magxe would devote 40 , 000 , OOOt ' r . to a reduction of the National Debt . In alluding tenderly to the difficulties of the country , he ascribes tliem to the difficulties in other countries . ¥ c know what' perfect delusion all this is . It is true that the trade of France has increased , true that the product of lier tax . es has grown larger ; but the expenditure keeps pace with the product of taxes , and the spurious speculative commerce lias increased more largely that the genuine . These are the reasons' why ' from East and West there is a continued drain upon this country . England is playing the foster-mother to the

    commerce of the East and West ; she is a fostermother who has twins , and they have enormous appetites . Here we have the reasons why the Bank-of England has this week been compelled to raise its discount to the unparalleled rate of 9 per cent . It has been followed -with' the usual / ' difference by . thc Bank of / France , which has raised its own rate to Si per cent . Really the monetary position of this" country lias not changed , and on that score there is not the slightest cause for apprehension , so long-as panic-mongers arc unable to do what they want , wliich is , to force the Ministers into-breaking down the principles u"pon wliich the Bank has been so successfully carried through all the vicissitudes of the last thirteen years .

    ' ' : ; .X . ' ¦ • .\ -V W<V ¦*- . ^ ••Y...

    ' ' : ; . X . ' ¦ . \ -V w < v ¦* - . ^ •• yv ¦ ¦ ¦' . ' 105 g - THUS IBADEB . ' : . _ [ No . JS 98 , JSTotembeb 7 , 18517 .

    State Of Tkade. A Meeting Was Held On Mo...

    STATE OF TKADE . A meeting was held on Monday afternoon of creditors of Mr . A . Hill , shipping agent and commission merchant , whose suspension followed upon the announcement of the failure of Messrs . Rosp , Mitchell , and Co ., with which firm he had had accommodation transactions . A statement of affairs , prepared hy Mr . Chatteris , the accountant , was submitted , from which it appeared that the total liabilities expected to be proved against the estate are ' 6-1 , 268 / ., of which 50 , 477 / . is on account of

    accommodation bills . The assets are estimated at 17 , 430 / . A proposal was made on . the part of tlie insolvent . that a composition be accepted of 5 s . 8 d . in . the pound , payable in three instalments , extending over a year , to be succeeded by a further dividend of 2 s- 4 d . to the trade creditors only , secured by an assignment of claims of the estate upon the drawers of the irregular paper . After a short discussion , a resolution "was passed accepting the terms , subject to confirmation by all the creditors within one month .

    The general business of the port of London during the past week was to an avcrngo extent . The report of the committee of shareholders of the Royal Surrey Gardens Company , appointed on the fith nit ., states that they have examined tho counterpart of tho lease wliich was granted to Mr . Tyler , and sold by him to the company for 14 , 000 / ., and find that there was at the time of such sale a term of only twelve years from Michaelmas , 185 G , unexpired ; that tho premises ¦ were subject to a yearly rent of 34 G / ., and a septenniul finfl of one year and a half of the . annual value of the premises ; that thero is no covenant for renewal in the eaidlcase , and tl * oro ie a . covenant on tho part of the lessee to deliver up at the end of tho loaso all buildings *

    which can by law be claimed by the freeholder . Tho committeo are of opinion that under these circumstances tho lease of the gardens at the timo of tho purchase by tho company waB not worth above 1000 / . It appears that th « general body of the shareholders wero entirely ignorant that there-wero any mortgages on the property , or that tho company was involved in . debt , until thoy wore informed of it by tho affidavit of their own secretary , filed ia support of the petition to tho Court of Bankruptcy . The committeo have come to tho conclu-Bion that the promises might be made a place of healthful nnd rational recreation , as well as a aource of considerable profit to tho shareholders , but it can only bo don « under a sj'stem diametrically opposite to thut which has

    heretofore been adopted . They are of opinion that the plan of continually giving very scientific music i 3 t great mistake . The committee recommend , as a general rule , a more varied class of music , and of a more national okaraeter , such as the best English , Scotch , and Irish compositions . The committee recommend that proper steps should betaken to have a full investigation of the mortgages and all claims on the company , in order to ascertain what tlie encumbrances really are , and whether * uch arrangements could be made as would . enable the company to carry on the gardens with a prospect of paying the creditors , and giving some return to the shareholders .

    The suspension was announced on Thursday moruinof the old . and important house of Naylor , Vickors , and Co ., steel-manufacturers and iron-merchants , at Sheffield .. The amount of their liabilities has not been stated oa authority , but they are rumoured to ' range between 600 , 000 / . and 700 , 000 / . At a meeting of the depositors and others , creditors of the Liverpool Borough Bank , held at the bank on Monday , the following ofier was made on the part of the bank : — " That the claims of all depositors and other creditors for amounts exceeding 200 / . should be satisfied by the promissory notes of the bank , payable -at five , twelve , eighteen , or twenty-four months' date , bearing Interest at the rate of seven per cent , per annum . " This oft ' er was accepted .

    America. The . Panic Appears To Be Over ...

    AMERICA . The . panic appears to be over ; but some new suspensions are announced—among them that of the Grand Trunk Railway Company . At Augusta , Georgia , all the banks have suspended . In other cities , however , several houses have resumed payment ; some of the banks are again issuing specie . At a meeting of bankers at Cincinnati , it was resolved to receive at par the notes of tho New Orleans bank 3 , and the notes of all banks also that are bankable in New York , Boston , Philadelphia , Pittsburg , and Baltimore . At New Orleans , the bank presidents have agreed to take certified cheques on the Citizens ' . Bank in payment . of debts ; the Citizen' re * - deems its circulation with specie , but notcJieques of depositors . The State banking institutions of St . Louis have opened a depository for the adjoining state ; for the currency or the Nctt England States and the Slate of New York ; and for the notes or tt » p . Philadelphia , Pittsburg , and Baltimore banks . A large number of the principal merchants advertise that they will receive all currency at par . There have been no sales of cotton fur several days , and quotations were entirely nominal at the last dates .

    Walker and liis filibusters are again giving trouble . A writer from "Washington states : — " Information has been received here from the South that Walker's expeditions— -one to leave New Orleans and the . other Galveston—have been delayed , in consequence of financial pressure , until the 1 st of November . They do not expect to meet with seriou 3 , if any , opposition from tlie Federal onicers . They propose to laud at some point in Costa Rica , on the Atlantic coast , and then inarch on San Jose , the capital of that republic , which they expect to reach in . two days . Their calculation is that when they capture it the whole country will be iu their possession . The aggregate of the Filibuster force is from 1800 to 2000 men . " Official orders have been received at the naval yard to fit out a fast steamer , to " be despatched to arrest tho expeditions .

    A freshet in the Susquehanna river has carried oil' a dam , and the navigation of the North Branch Canal is stopped . A great fire , attended with some loss of life , had occurred at Chicago . Tho damage was estimated at G 0 O , 00 O dollars . The steamer Tropic has struck against a snag' in the Missouri river , and twelve or fifteen people were drowned . Indiana has chosen Mr . Chase ( Republican ) art their representative in Congress . It is stated that New Grenada is disappointed in tho convention lately agreed upon between the United States nnd that country ; ami that the President of the latter has been authorized to sell the Isthmus .

    " Hundreds of persons , " says tho Washington correspondent of tlie New Yo 7 'k Herald , " are daily applying to Lord Napier for employment in the British army in India . Ho requested mo to say that his Government has resolved to employ no foreign troopa in that wnr . ' The latest accounts from the Salt Lake state that the Mormons refuse to allow thu United States troops to enter tho city , and that ] 3 righam Young publicly < li' - clnrcs tUal ho will out < lru to Clio jjrulrios , lliua depriving tho animals of tho expedition of subsistence , ami will burn his own city , if nccessnry , before he will submit to the demands of tho United States Government . Tin ; forts along tho route are represented as being in bud repair , and as not affording euflicient protection for the troops . A new overland route to California has beeni discovered , which will bixvo many milos of travel .

    The Arctic lias arrived , at New York , liaving passed three , months on surveys in connexion with tho Ocean Tnh'graph . The Liverpool packet fillip Jacob A . Wcstcrvclt took firo on tho 23 rd ult ., in her cabin , and was damaged to tho amount of about 2 OO 0 dollars .

• Citation
  • Leader (1850-1860), Nov. 7, 1857, page 2, in the Nineteenth-Century Serials Edition (2008; 2018) ncse-os.kdl.kcl.ac.uk/periodicals/l/issues/cld_07111857/page/2/