Yokohama, May 24.
The Seventy-Fourth Bank, which is owned by Mr. Magi, has suspend. ed business for three weeks from to-day.
Osaka, May 24.
It is reported that the Seventy-Fourth Bank has suspended business owing to the renewed apprehension which has sent down all market prices. The Osaka branch of the bank has also suspended operations. The bank is largely controlled by the Mogi Company which is engaged chiefly in the silk and other textile business. The Mogi Company has recently met with severe reverses.
The capital of the Bank is 'Y¥.5,000,000, Y.3,150,000, paid up; the total deposits amount to Y.60,000,- 000 and the total loans to Y.70,000,- 000. It is feared that the closing down of this Bank will prove a great low to the general economic situation, which recently was on the road to recovery.
Yokohama, May 24.
The Yokohama Silk Exchange has suspended business temporarily owing to the closure of the Seventy-Fourth Bank, pending the _adjustment of the bank's books.—Reuter.
Text read from the printed page and cleaned; old type leaves the occasional error.