The Liverpool Standard and General Commercial Advertiser.
Liverpool, Merseyside, England, 1847-10-26 00:00:00

STOPPAGE OF THE NORTH AND SOUTH
WALES BANK.

It is with the very greatest regret that we have this week
to announce the suspension of the North and South Wales
Bank. This is altogether owing to the injudicious con-
duct of these who, rushing for their deposits, are only
seriously increasing the disastrous effects of the present
commercial panic, and are the means of causing serious
burt and annoyance to those who have more confidence
and consideration. We are informed that statements to
the prejudice of the bank were industriously circulated,
. last week, throughout the whole of North and South
Wales, and that the apparent confirmation of them by a
, paragraph which appeared in the London Express, of
Friday, caused such a feeling in the districts alluded to as
resulted in a simultaneous rush upon the deposits of the
bank throughout the principality, and compelled the au
thorities of the concern to determine upon a suspension,
,an event which is formally announced to the creditors
I and others in the following manner :-
1 " North and South Wales Bank,
" Liverpool, 25th October, 1847.

,
" A most cruel and groundless report, which got into
circulation in the principality early last week, has caused
a run upon the deposits of this bank of that magnitude
which, in the present restricted state of the money mar-
ket, it is impossible to meet. The directors, therefore,
are under the pairiful necessity of suspending the opera-
tions of the bank.

. .
" In the meantime the directors beg to assure the cre-
ditors of the bank that every exertion will be made to
liquidate their claims •at the earliest possible period; arid
that no apprehension need be entertained of any ultimate
loss on the part of the creditors."
Meanwhile those who can surmount the temporary em-
barrassments necessarily consequent on such • an event
have not the slightest reason to, be alarmed. We leain
'from gbod authority, that the bank is, notwithstanding
the temporary. 'derangement of its affairs, arising from
the causes above alluded to, really in a very sound and
good condition. •
. We understand that the directors met yesterday, brit
we believe that no definite step was resolved onl indeed,
it will he at once perceived; that as the 'branches of the
bank are twenty-one- in. number, some little
,time :may
elapse before the directors are able to make public the
result of their deliberations. The affairs of the branch
were, we are informed, considered very satisfactory ; and
I whilst we can new assure all the creditors of a eomplete
liquidation of their claims, we hope next week to announce
a resumption of its payments.

LIME-STREET WAED.—Mr. J. A. Picton has come
forward for this ward in opposition to Mr. J. B. L!oyd,
the present member, who is again a candidate, and whom
we hope to see returned. .
Mr. Fonblanque' for many years connected with the
weekly press, has been appointed to the office in the
Statistical Department of the Board of Trade, vacant
led
by
the promotion of Mr. Porter to the place formerly til
by Mr. Lefevre.
'BOILER EXPLOSION.—On the morning of Thursday
last a fearful boiler explosion, by which four persons were
killed and a. number, severely injured, took place at the
New Hay Mills, near Two• Bridges, about two miles from
the town of Rochdale, the property of Mr. Samuel Berry,
a woollen manufacturer. . .