The Express.
London, England, 1866-05-14 00:00:00

4

ZIPECTS OP THE FINANCIAL PANIC IN THE

PROVINCES.

At Birmingham some degree of uneasiness was
emoted on Saturday morning, on the announcement of
t►e suspension of Mauro. Peto and Betts, that firm having
now indebtedness in the town, and also in the district.
Atto the panic itself, much of the anxiety which prevailed
an Friday subsided when it became known that the Bank
Charter was to be enspended. Neither on Friday nor Satur-
day was business at all out of the ordinary way at any one
ef the banks ; in one or two instances the amounts of
lawny flowing in were larger than usual.
The general state of commercial affairs at Liver-
pool on Saturday was decidedly better than for
sense days past. The consternation caused by the
failure of Overend, Gurney, and Co. had almost
abated, and a more cheerful and healthy tone prevailed
amongst the commercial community. Of course it could
Audi* expected that the alarm and anxiety would at once
'ease in consequence of the suspension of the Bank Act,
and the statement on Friday night by the Chancellor of the
Machequer ; and on Saturday, one large and eminent house,
engaged in the corn, cotton, and general produce business,
was compelled to succumb to existing circumstances.
Though the liabilities are very heavy, it is believed that
the assets are capable of a favourable adjustment. The
'Won market, which opened with a better tone, became
aeon excited and animated as the day advanced. Between
11 and 12 a.m., when the sales are first estimated, it was
generally understood that they would foot up about 7,000
hales ; but between that hour and two o'clock the market
underwent a complete change. The demand increased
rapidly, and all long-stapled cotton (especially American)
advanced fully Ad. per lb. over thequotations of the previous
ay; while iu short staples there was eoarcely any change to
report. It cannot but be expected that in the present
Grids various reports get abroad respecting the financial
standing of firms who have, or are supposed to have, been
dealing in merchandise which has depreciated in value.
This was the case on Saturday ; and several large firma
were reported to have fallen. The failure of Messrs. Peto,
Betts, and Co. was not looked upon locally with any
uneasiness.

_
In was stated on Saturday that a meeting had
bees held at Norwich to express confidence in the banking
Ina of Gurney and Co. at Norwich. The meeting, al-
though called at an hour's notice, was numerously at-
tended, the Mayor (Mr. W. P. Nichols) presiding. Mr. C.
Buns, Chancellor of the diocese of Norwich, moved the
first resolution, which was as follows That this meet-
in of the citizens of Norwich, oonvened by the mayor at
an hour's notice, declares publicly and unhesitatingly its
unbounded confidence in the house of Gurneys
sad Birkbecka, and unabated reliance on its per-
fect financial security." Mr. Evans said the name
of . Gurney was known not only in Norwich and
Nosfolk, but over the whole civilised world, as the emblem
of everything upright and honourable ; and the same
might be said of the Birkbecks. He was sure all present
would be prepared to testify their unbounded confidence
in the firm by taking with the greatest readiness as many
a their 5/. notes as they could get hold of. (Laughter and
sheers.) Mr. 0. Springfield seconded the resolution, and
deprecated a pitiful panic. The resolution was carried
imanimously. Sir S. Bignold said he could not allow the
meeting to terminate without expressing him high opinion
el the probity, honour, and wealth of the house of Gurney.
Several other gentlemen addressed the meeting, and a vote
of thanks to the mayor concluded the proceedings.
Some consternation was felt at Poole, Bourne-
mouth, and Christchurch on Friday morning, when a no.
tics that the English Joint Stock Bank had temporarily
suspended payment wu affixed to the doors. The effects of
the bank stopping will befelt at Bournemouth more thanst
either of the other places, a large amount of building
going on there, and some large accounts being there, par-
ties having been tempted to transfer their accounts from
another company to that of the English Joint Stock
Bank by the facilities offered. At Poole they took some
large premises from a draper for the remainder of a lease,
paying him about three times the amount he was paying
for rent, and had spent about 1,0001. for fitting up the
effices. The town is not remarkable fur business, and
the population is only between 9,000 and 10,000, with
tweother banks in the town.

Our Bristol correspondent writes that the details
of the severe commercial panic in London, and more espe-
sially the announced suspension of payment by the English
Joint Stock Banking Company and the firm of Peto and
Bette, have produced a profound sensation in that city.
The English Joint Stock Bank has two branches there, one
in High-street, in the very heart of the city, and the other
is West-street, St. Philip and Jacob out, which is approxi-
mate to the great manufacturing establishments of the city,
such as the glass houses, engine works, soap houses,
foundries, &o. When it became known that the doors
were closed, and a notice of suspension posted, a powerful
sensation was awakened amongst many tradesmen, chiefly
of the smaller class, who had become depositors. It was
at one time feared that Saturday would witness
a run on the other banks, and preparations were made to
meet it. The day, however, passed over in a way which
manifested the great confidence which is felt in our local
banking companies. The withdrawal of deposits was incon-
siderable, and there was nothing at any part of the day
which ninonuted to a rush. The embarrassment of Sir
Norton Peto's house has caused great pain, and is spoken
of in all quarters with the deepest regret. In a national
sense the mishap is regarded as a very severe one, but the
fact that the respected baronet who is at the head of the
firm represents the city in parliament has imparted to
the matter a strong local interest. Added to this, Sir
Norton Peto baa established many personal friendships
bare, whereby the sympathy that is felt with him is greatly
intensified.

PACTR.IORDNARY SCENE ATA CORONER'S INQUEST.
—On Saturday afternoon an inquest was held at the
Xing's Head, Bedhampton, Havant, near Portsmouth, on
the body of Mr. John sininions, an upholsterer, carrying
en an extensive business in Queen-street, Portaea, who
had been killed on the previous evening by a train on the
London, Brighton, and South Coast Railway, while in the
act of crossing the line. The deceased was noticing
train on the up line, and failed to observe the approach
of another on the down line. He was struck by the
engine with tremendous violence, thrown 21 yards along
the line, .ul wasinstantaneously killed. The coroner
(Mr. E. Hoskins, of Gosport), was so confused, and
examined the witnesses in au extraordinary a manner, that
the jury protested against their time being wasted. The
coroner humorously remarked that " he had been under ,
the soil—rue jury knew what he meant—draining work" 1
—an observation which caused some laughter. The driver
of the engine was called, and he stated that the train i
consisted of three carriages, and that it was tra-
veiling at the rate of 18 miles an hour at the ,
time of the occurrence. The coroner then asked what •
was " the weight of the train." TLe foreman of
the jury said it was useless for the coroner to go on in this
way. It was merely wasting their time. How could the
witness teU the weight of the train ? The coroner told the
jury not to think he wished to delay them, for Le had
other engagements to keep which were far more gratifying
than this. The examination proceeded in the most extraor-
dinary manner, the coroner asking the witness if " they I
were going full cock." &c., whereupon the jury once more
interposed and insisted on an adjournment, which had ;
been applied for by Mr. Cousins, who appeared for the
relatives of the deceased. After a smart passage of anus
between the coroner and the jury, the inquiry was ad-
journed.
SERIOUS CHARGE AGAINST A CLERGYMAN.—In
the Court of Arches on Saturday Dr. Lushington had be-
fore him the case of the " Bishop of Norwich v. Berney."
This case was a snit instituted under the Church Discipline
feet by the Bishop of Norwich on a complaint made by the
Rev. James John Cumming against the Rev. James Ber-
ney, rector of Brecon Ash, Norfolk, for alleged lewd and
incontinent conversation with his wife, Mrs. Cumming,
and her sister, Miss Durant, on several occasions. The
MUM; was commenced more than twelve months since, and
Nome applications arising out of the same have been re-
ported. The present occasion was appointed for the
voce examination of the witnesses. Dr. Deane, Q.C.,
and Dr. Tristram appeared on the part of the Bishop of
Norwich ; Dr. Travers Twits, Q.C. Mr. Kerslake, Q.C.
and Dr. Middleton were for the defendant. Dr. Deane
begged the indulzence of the court for five minutes
when the case was called. He had received a communica-
tion from his learned friend Dr. Twins, who was the leader
on the ether side, and he had hoped that a great deal of
the time of the court, he meant to say the whole, could
be spared in the inquiry. The parties were then in con-
sultation, and five minutes would probably save much
time. His lordship said he would not only give five
minutes but doubly five minutes with the greatest
pleasure. A consultation took place between the parties,
but no arrangement erne . Dr. Deane said he was
sorry -4fte btons delayed the court, but he found that the
ease must proceed. Mrs. Cumming was the first witness
called, and was examined by Dr. Deane. Her husband
had been rector of East Carlton, Norfolk, which was
a short distance from Brecon Ash. In 1864 she and her
husband lived at the rectory of Brecon Aah. This witness
iletailed the particulars of certain improper conduct on
the part of Mr. Berney, and the case was adjourned till
to-day.

Etwit TURNPULEB.—The next Derby Day will
be the first after stet abolition of the Kennington =deem
turnpike, between London and Epsom.