13 MAY 1966, Page 10

C: be 9:511ccta tor

May 12. 1866

War, commercial failure, and exce,,,ive panic both on the French and English Stock Exchange, have been the cheerful features of the week. . . . The panic in England broke fairly out on Thursday. on the failure of Messrs. Overend, Gurney, and Co. (Limited), for 10,000.0001. sterling. The English Joint-Stock Bank (once Mr. Rogers') has also stopped payment, and there were other terrible rumours. On Friday Lombard Street was blocked up like the Strand on a procession day. It was said in the after- noon that the Bank Charter Act had been sus- pended,—that Mr Gladstone had been down to the Bank himself and written the letter there,— as if he would think of such a thing.—and there were plenty other wild and impossible rumours.