Sunbury American. [volume] (Sunbury, Pa.) 1848-1879, 1866-05-26
THE FINANCIAL PANIC.

ihh lNANtlAb ANlN
The financial panic eliminated late on
Thursday afternoon, the 10th instant, in the
suspension of Messrs. Overend, Gurney u
Co. The business was converted in August
last into q united liability company, with Il
nominal capital of five millions sterling, of
which a million and half was paid up.
The liabilities are stated at from ten to
twelve million pounds sterling. The break
down is attributed to heavy speculative sales
of shares, which forced them down from ten
per cent. premium to discount.
The delegates then began to get alarmed
and the drain on the 10Th was very severe
Application for assistance was made at the
Bank OF England, and the governors dccin-
ed To grant any on the ground that it would
be ruin in crisis like the present to assist
one establishment unless they were prepared
to help other applications as we'll
1t was too late to make IA call on the share
holders to take any other step. The doors
ofthe establishment were accordingly closed
AUSTRIA, PRUSSIA AND ITALY.
The question of war for the moment is
over-shadowed by the financial panic. There
is no modification in the threatening aspect
of affairs.
The Times, in summary view of affairs
on the llth, says
The whole Prussian army, and great DO.
dies of troops are massed along the frontiers
Austria is bringing into the field every man
she can raise, and it is enough to say the
whole nation is painting for war.
There were rumors of communications by
France and England with Austria. with a
view to arrest an outbreak, but nothing au.
then,ic has been developed.
The latest Florence papers regard war as
inevitable, and say by modification of the
Ministry about to take place, La Marmora
will receive the military command.
The city OF Venice is said to be closed to
traffic from without.
Italian and German journals have become
more reserved in their accounts of arma-
ments and military intelligence.
A Royal decree was issued on the 10th
dlssolvlng the Prussian Chamber of Depu
lies. 1his measure was proposed to tbe
King by the Ministers, in order that a fresh
election without delay might develop the
real feelings of the Prussan people. Ii was
thought that this might delay the outbreak
of war. .... M. ....
The Prorinciale Correspondent, of Berlin
in announcing the mobilization of the entir,
Prussian army, says the nation may be as
sured that the Government is willing tc
maintain peace If 1t can be done with honor
and due regard to the Prussian interests
but it has resolved that it must act in tor
chile and decided manner to maintain thos,
interests.
II Is stated that Prussia in reply to tn,
Austrian despatch OF May 4th, relative /,
the Duchies, expressed a willingness tn ente
into fresh negotiations upon another bas
since that now proposed was not suitabl,
for starting point
Another statement is that Bismarck hac
declared to tie Austrian Ambassador tina
lie would only accept the solution of tn,
question of the Duchies from German Par
livmept. s Ir a .9 .-aaa al
The Bayarian Government had ordered
the immediate mobilization of the eptir
Bavarian army. s -l =
Rulnors were current at Vienna of Prus
star preparations of war.
/ OrdsrB are also ssid 10 have been issus,