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TOWN TALK. r

SUMMARY OF PASSING EVENTS.…

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VITRIOL THRO WTNG THROUGH…

THE MISSION OF PRINCE NAPOLEON.

STOPPAGE OF THE PRESTON BANK.

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STOPPAGE OF THE PRESTON BANK. The Preston Bank, which was established in 1844;, has suspended payment. The announcement was made on Thursday morning by a written paper, posted upon the principal door of the bank in Fishergate, which ran as follows In consequence of the pres- sure in the money market and temporary embarrass. ment, this bank is compelled to suspend operations for the present,—July 19,1866." This notice was put up just before the usual time of opening the bank (nine o'clock); and as merchants, manufacturers, and others turned up between that hour and ten on financial busi- ness, and realised the fact of there being "no admit- tanee," the excitement created when the announcement was first made became very intense, and for a time the street was very nearly blocked up with people. Early in the week several parties apprehended that a stoppage was at hand, from the fact of the bank authorities having pressed heavily for outstanding accounts in certain quarters, and they withdrew their deposits, determined to be on the safe side whatever was the result. On Tuesday and Wednesday there was a most unusual run on the bank, and it is said that fully E40,000 was withdrawn in those two days alone. On Wednesday evening the legal adviser of the bank authorities was consulted, and the result was the announcement above given. The bank is in the hands Act; and the shareholders number in the aggre- gate 113. The liabilities of tho bank are roughly estimated at JB1,500,000. The bank has branches at Lancaster. Srmthnort- ri'a'cK" i)um, ru'io-ivuuui, jueetwooa, Lytharn, ana Garstang. The weak place in the bank, if not the actual cause of its stoppage, has. it is asserted, been its connection with a number of cotton manufacturers. Several of them during the late cotton famine, and some even prior to the crisis which it caused, overdrew their accounts, or else, being hard pushed for money, had to mortgage their property; and not being able to realise upon the premises, mills, &c., so mort- gaged, or having pressed the parties named for pay- ment of sums owing before they had properly got upon their feet after tho late depression in trade, the bank authorities have found themselves in a difficulty, and unable to meet the demands upon tham, especially during the run upon their funds caused by an appre- hension of their financial weakness, they have had to suspend operations. To the shareholders the bank has hitherto been a profitable concern, the interest derived being at the rate of 20 per cent, per annum. The bank has suffered very heavily by its Blackburn branch through the came preridusjy assigned. Nearly all the shareholders are men of good position and sub- stantial means, and numbers of depositors are large employers of labour.

THE EUROPEAN WAR.

AMERICA.

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