States have been informed by Dr. [Bruening that his Cabinet would feather resign than accept the French demand, and that, the ternative to the" most stable and Jeapable Government Germany had for years would be a furiously nationalist regime, "with disastrous consequences for Europe.
While the Cabinet through the night discussing an. Jemergency decree to be promulgate fed to-morrow the Darmstaedter and [National Bank, one of the biggest ind most important in Germany its announced that it is compelled to, suspend payment, The Government has informed the Bank that on the basis of the Jemergeney decree it will guarantee fall deposits in the bank and attend totits orderly liquidation, The Prussian Ministry of Commerce has ordered the Stock Ex. Jchanges in Prussia to remain closed on Monday and Tuesday and it is understood other " Federal states will follow suit.
Government.
be a general run on the banks fas'a result. of the collapse of the Dramstadter Bank, which is th biggest bank crash' in Gert for ses years. 'The bank has a capital of tires' millions sterling and paid a dividend of eight per, cent. last ar, and ten and twelve per cent the two previous years. It has 7,000 employees and its managing director, Herr Jacob Gold Schmidt, regarded as a financial genius, he Bank was known to be heavily involved in the North German Wool Jconcern which failed a few days' Jago but the suspension of payment lof this large banking concern was totally unexpected—Reuter.
Suly 13. ermany's financial crisis rapidly moved toward a climax to-day jax it was announced officially here that one of the biggest German banks, the Darmstaedter and. National' Bank, will not open its doors fon Monday morning.
"The Government issued the following communique:
"The Government, on the basis of jan emergency decree. already sign: led by President Hindenburg and [which will be issued on Monday, fully, guarantee deposits and assure tranquil developments in the Bank's' business.
"in view of the significance of payment difficulties i has been sug-[gested that trafic in stocks and foreign currencies be, banned Monday and Tuesday."
While the Cabinet was still in leession at 1.80 o'clock on Monday morning" Dr. Heinrich ° Bruening, the Chancellor, communicated wit President Paul yon Hindenburg at
Text read from the printed page and cleaned; old type leaves the occasional error.