LATEST CITY INTELLIGENCE.

Southland Times, Volume I, Issue 75, 21 November 1864, Page 3

LATEST CITY INTELLIGENCE.

The Stock and Share Markets continue dull, but no important decline has taken place in prices, in tike absence of business. Some foreign stocks hare receded. Bank and financial shares still show and unfavorable tendency. The official report of business is as follows : — Consols, 87g- to 88 for delivery, and 88g- to i for the 11th of October. Reduced and New Three per Cents., 86£ to | ; India Stock, 209 to 211 ; India Five per cents. 104 ; Ruppee Paper, 101 to 110 ; India Bonds, 30s, to 20s. dis. ; and Exchequer-bills (June), 255. to 15s. dis..; March, 12b. to ss. dis. The following relating to the failure of the Leeds Banking Company is from the Leeds Mercury. It puts the possible result of a liquidation in a very unfavorable light : — Considerable nrisaprehension seems to prevail in regard to what took place at the shareholders' meeting on Wednesday on the subject of the liabi- j lities of the company, and most of our contemporaries have stated that £100,000 was represented as being sufficient to cover the losses -which the bank has suffered. This is an error -which probably originated from the manner in -which the coni versation was conducted. Mr. Middleton, who I attended the meeting as the representative of persons largely interested as shareholders, was anxious to obtain something like an approximate idea of "what proportion of loss the company was likely to sustain of the £786,000 which it was: admitted had been advanced to customers ; and he put questions to the directors having that object in view. He was unable, however, to get from them any figures which could guide him to a decision, and it was then that Mr. Joy offered the suggestion that probably the deficiency would not exceed £100,000. Thereupon Mr. Middleton asked whether the directors could say that that would be the extent of the loss ; but to this question he received no reply. He then inquired ■ ; if the directors thought £200,000 would cover the loss. To this also no reply was given ; - but on his pursuing the matter a step further, one of the directors did venture to offer an opinion that the loss would not be so large as £300,000. _ The directors, indeed, did not appear at that time to possess the information which would enable them to give any confident opinion on the subject. ; Further embarrasments are reported at Leeds. The Leeds Mercury of Saturday contains ' the following : — " We regret to say that several other failures are reported inaddition to those previously announced as arising out of the suspension of the Leeds Banking ~ Company. Yesterday morning proceedings in bankruptcy were opened against Mr. Charles Turner and Messrs. Turner and Johnson, cloth manufacturers ; and during the day Messrs. Alfred Teale and Co., woolen merchants, Kingstreet, executed a deed of assignment in favor of their .creditors. The liabilities of the first three are not expected to he lavge, but those of Meßsrs. Teale arid Co., are stated to amount to £100,000. With regard to the affairs of thebankitself nothing further is officially known, but it is understood that amongst the paper -which has been discounted are a number of forged bills." The suspension was announced on Saturday afternoon of Messrs. Oelrichs and Co., ■■merchants;.: engaged in extensive cotton speculations. . Their liabilities are expected to . reach £50,000,, and the estate is to be investigated by Messrs. Quilter, BalL and. Co., accountants. '.''>, - . \ 'Frequent additions to the lisfc- of mercantile failures are calculated to render discounters extremely cautious, and weak houses are therefore likely to succumb ; but credit generally is maintained in a very satisfactory manner, and substantial ;firms experience no difficulty in getting all the acconimbdation: they require. The embarrassments ;. alluded to .above: have, naturally enough engaged r attention} and} they >;haye formed a subject .,of; commentation: I in: monetary circles, but thedisx count;- market continues to ■ exhibit a : slightly, ifayorable' tendency.. \ Ther&ywas & good, demand, on Saturday, business haying /been .prompted. by. the retirement of a large number of Indian bills, but the quotations current in the open market stuiiraugeiibper, cent, under the > -minimum t of the ? --Bank'of England.^#q?»^,^ett>s.': ; a -, t H:r , i; r «- i;u .-