THE FINANCIAL CRISIS.
[BY TXJUBaSAPH.J
EFFORTS TO BE-FOaM: BARINGS. f*KR ntBSS AmociAtlON.} Beceived November 21st, 10 a.m. Lofdoh, Noyeinber 20. u The Governor of the Bank of England assured a meeting of bankers, held to-day, th&t there was nothing to justify a panic. The Bank, he said, is in a strong position, and would freely support the credit of bankers, who are now reassured. Received November 22nd, Lls a>m. - London, November 21. : Strenuous efforts are being made to re-form Barings, and they will probably succeed, Mr T. C. Baring will put in a million of fresh capital. Washington, November 21.. Barker Brothers, of Philadelphia, bankers, have failed for £1,000,000. Beceived November S&id, L 25 aon. London, November 21. It is understood that Lord Northbrook, head of the Baring family, will re-enter the firm.
. (7BOM OUB CO&RSSFONCBNT.) WBIiMNQTONi November 21. "With reference to a telegram that "No bills drawn on Baring Bros, after Saturday last will be accepted, but that all drawn before .that date will be duly met," I am assured by a leading banker that this cannot be accurate, because he baa just received a cable message to the effect " that the Bank of England baa guaranteed all current liabilities aad all outstanding credits of Baring Bros." Consequently until these credlfa are exhausted the guarantee .will cover all sums drawn upoa* ■ ■ - ■•■.•■■'■"..'
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Press, Volume XLVIL, Issue 7716, 22 November 1890, Page 5
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222THE FINANCIAL CRISIS. Press, Volume XLVIL, Issue 7716, 22 November 1890, Page 5
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