Information was received in banking circles in the City yesterday, that the Banque Industrielle de Chine had applied for an order of Réglement Transactionnel, and had accordingly suspended operations. The news caused no surprise in London, for it had been common knowledge here that about six months the bank had received assistance from a group of French banks to tide it over certain difficulties which had—arisen owing to the fall in values. These difficulties were well known here, and consequently the suspension has particular significance for the London market. The bank maintains a branch in London at 28, Throgmorton-street, and this branch remained open yesterday. But the suspension is a matter of considerable interest in France, for this important institution was established for the purpose of developing French trade with China. The bank has received official support, and persons of i portance in the French political w are believed to be interested in the concern. It is stated that some time will elapse before figures can be published showing the position of the bank. Great efforts have been made to avoid suspension of payment, and it is stated that meeting of the big French banks was called by M. Doumer, Minister of Finance, to consider the question of giving further assistance to the bank, but these banks came to the conclusion that ther were unable to recommend 2 course of that kind.
Text read from the printed page and cleaned; old type leaves the occasional error.