Press writes:—The affairs of the Hongkon, and Shanghai Bank are occupying the min of the public a great deal.On Saturday 46th) Jurado and Ca. claimed a sum of 10,000 ment of its claims against in the Ba uch the Bank refused to pay. As soon as its decision was known, all the funds in the Bank were seized, so that no transaction of any kind could be carried on. This state of things went on till Tuesday, when after the Bank had deposited, by in-Mraction from their legal advisers, assum of $320,000, first in the Banco Filipino which sum was afterwards withdrawn, and further deposited in the Casa de Depositos, business was resumed, and the panic creat ed by this disturbance of the ordinary course of business, began to subside. The papers again had a rumour, the day before yesterday, that a new claim had been presented to the bank by the same Jurado and Ca. for over $800,000, this, however, was contradicted in one of yesterday's papers, which professes to know better than its neighbours, but which continues to say that Jurado and Ca. have given notice that they will shortly claim from the Bank It is very hard that the Bank, (which for the Law here has no personality, owing, the latter says, to the Bank not having complied with all the regulations necessary when establishing itself in Manila) should still be considered so much of a personality that money can be claimed from it, and that it should be held responsible for the Teds though ble by amongst rey think Epaniards hat the it is thought very regrettable many
Bank should not have taken stronger measures in the beginning, and now some legal men think it would be wisest for the Bank to close here and try and get the matter settled in Spain, where, at any rate, the issue would be sooner decided, and where all concerned could be cited by a Court of Law for the discussion of the whole affair. Others again think that the best solution of ised the difficulty would be for the Bank to moke a compromise, and hand over part of the sum demanded by Jurado and Ca., and put an end to an annoying business.- But' there are so many different -versions told of the affair and so many different opinions concerning it that it is almost impossible to arrive at the truth of the story, or the best solution of the difficulty. It is thought-extremely hard and unfair that the Bank, which was founded here on certain principles according to the advice and approval of well-known and reliable local legal advisers, should now be subjected to all the annoyance and unpleasantness from which which it is suffering, having acted throughout with the traditional honour and honesty of a respectable English enterprise.
Text read from the printed page and cleaned; old type leaves the occasional error.