Apropos to the state of business in the corn-market, the
Times supplies -RODIe further particulars respecting the new batch of commercial disasters- Apropos to the state of business in the corn-market, the Times supplies -RODIe further particulars respecting the new batch of commercial disasters-
" The failure of Thomas Usborne and Son, and of Hastie and Hutchinson, has been announced. The liabilities of Mr. Usborne are somewhat under 100,0001.; and although the fallacy of such statements is now unfortunately a matter of notoriety, we may add, that a strong belief is entertained by those who have in- spected the accounts that the assets will be sufficient, or nearly so, to pay 20s. in the pound. The house, it appears, has kept itself free from speculation of every kind; its present position having arisen entirely from the dishonour of claims which it holds on Lesley Alexander and Co., and other suspended firms; and it is stated, moreover, that the immediate circumstances connected with the stop- page are such as will maintain rather than diminish the honourable character which Mr. Usborne has hitherto borne.
"The suspension of Messrs. Haatie and Hutchinson is said to be one of a similar description. The house has only been in the corn-trade about eighteen months; the senior partner having previously to that time carried on business as a Scotch factor at Wapping, in which he had realized a good fortune. The immediate cause of suspension in this case was the stoppage of Denny and Ca, of Glasgow; And the liabilities are supposed to be between 50,0001. and 60,0001. "Another failure was also mentioned, but it was not of sufficient importance to tall for special remark. "With regard to the assets of Lesley Alexander and Co., it seems now to have been ascertained, that, instead of having been under-estimated when it was stated they would yield only 8*. in the poand, they were represented much too favour- ably, and that it would hardly be safe from present appearances to rely upon a dividend of more than one third of that amount. The entire circumstances con- nected with this failure form a subject of most unfavourable comment."
Some excitement has been caused by rumours in circulation of the acceptance of one of our leading discount-houses having been forged to certain bills, the amount, it is said, being about 10,0001.; but whether the worst is known remains to be seen.—Globe.
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