PANIC IN PORTUGAL.
EFFECT ON LONDON AND PARIS MARKETS.
[FBH PRBSB ASSOCIATION.) Received May 13th. ll a.m.
Lisbon, May 12. Owing to a run on the Bank of Portugal an official decree has been issueo? by the Government ordering the suspension of payments for sixty days. This step has caused a panic throughout the country.
Received Alar 13th. 7.80 p.m.
The financial position in Lisbon has disturbed the money and stock market, and Portuguese stocks have fallen 15 since the Stock Exchange settlement.
Three mouths' bills are discounted at per cent.
Lisbon, May 13.
Owing to the disorder aristug from the panic, the troops and police are guarding the Banks and public buildings throughout Portugal. The scarcity of coin is greatly felt, and as the public refuse to accept paper money trade is paralysed.
It ie rumored that the Government decree will be issued tomorrow, ordering forced note currency. Paris, May 13.
The financial position in Portugal has caused a panic ia the Paris Bourse, and the situation ia regarded as grave.
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Bibliographic details
Press, Volume XLVIII, Issue 7863, 14 May 1891, Page 5
Word Count
172PANIC IN PORTUGAL. Press, Volume XLVIII, Issue 7863, 14 May 1891, Page 5
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