Show THE GREAT FAILURE it is IB not very long since the B cluan olal caal world was thrown into a mild spasm over the failure of the great banking huse of baring brothers Brot tiera loncoa Lon dOii the liabilities were ere so ao ab normally great and the holdings bol dinga widespread that it la ift a wonder the shook shock was waa not more briosa Bri oua but as aa it was waa like a big snip ship sinking it acdan r d many smaller crafts near it rh the worlds nuances finances like great lakes are only disturbed when something disturbs them as a windstorm an earthquake or other agitating influence and when this is gone the waters gradually become pl xi 9 gain so bo with the greatest or of ail the recent great failures lai jai lures ever since it occurred measures have been suggested placed on foot and pushed looking to au an adrat most ment the managers of we the bank of england have lately issued a statement showing the present status of the liquidation alao from which it sp ap pears that matters have arrived at such a tage that the limit of the lose or approximately so can be determined A number of banks and individuals took upon themselves theme elves the responsibility ot of guaranteeing to the creditors the immense sum ot representing wine somewhere where near if not all ut ot the amount for which the brothers failed A great deal of thin has now been liquidated and it to is at last determined that the guarantors guaran tors cannot lose more than to te per cent or of their guaranty and not nearly s much if even a considerable fraction provided that the corn com uon shares of tile the manchester ship canal and the securities of argentine anti and uruguay shall prove brove to have any value at all worth naming which is set down as more than probable so that when the final settlement lemeut is maue made it is sate safe to assume that there will be considerable ot of a scaling in the amount above set out as the guarantors guaran tors re souse ability this however may take a long time we are advised that the newly organized successors of baring co haab have agreed to become for of the liability which ultimately maybe may be found to 10 represent a very large share of the actual loss but says an exchange assuming that the must be charged off as direct loss it is possibly a cheap payment to be made as the means of P a ireat great financial catastrophe it if baring co had failed at the time of their embarrassment with their liabilities of with interests scattered so as to include all of the great centres bentres of business the probability Is that the collapse colla pae would have brought down many other houses and there would have been a series ot of bankruptcies by beaus of which the guarantors guaran tors who came to the rescue would have bave lost very much more than they can by uny any possibility lose through the present slow clow method of ao and up failures are otten often due clue more to loss lose of ere credit jit and the attendant inability to realize on assets than otherwise very few ui of them comparatively result from actual or pronounced mismanagement but the results the open market and to an extent corresponding with the magnitude of the concern failing faili fail lug ug are just as a bad baa to ii most moat cases as aa though either or both of the conditions named had produced the downfall it 16 is a source of considers con cons sidera idem tile ble satisfaction to those immediately interested and of more or less lees gratification to monetary tary circles everywhere that the baring brothers Brot bera failure was wag no BO more disastrous than ban it has been and that so much has been retrieved from the crash Y |