| Description | [It would afford me pleasure to be able to send you favourable tidings of Neale, James Fordyce & Down, but it is not in my power: the creditors found it unavoidably necessary to take out a Commission against all the partners. Yesterday there was more distress seen than at any period within my memory. The morning opened with the failure of Glyn & Halifax for a very large sum (the Alexanders of Edinburgh for an immense sum, were in the same bark with them): the Boyles, Edie & Laird, all the Adelphi Adams’s, and many others have stopped. I fear your old friend G—rb—t [Samuel Garbett] is in the same situation. All the Carron concern will stand good. There were many reports of other great bankers stopping, such as D—mm—d, C—tts, C—leb &c. &c., but they all stood. Credit is totally stagnated. The stoppages altogether must far exceed a million sterling.] |