To complete the record of banking disasters during this period, the failures must be mentioned of Vivian, Grylls, Kendal, and Co., of Helstone, Cornwall, on the 4th of February, and of Swann, Clough, and Co., York, on the 8th of May. They were both old established concerns. The former failed in consequence of a steady drain upon the resources of the bank ever since the date of the failure of Tweedy, Williams, and Co., and the latter in consequence, it was understood, of an unrealizable lock-up, as usual
With the failure of Vivian's, of Helstone, the crisis of 1878 may be said to have passed away. Confidence was soon thereafter fully restored. But although this was so, trade did not revive, and since that period, with the exception of an occasional spurt in particular branches, it has remained at a uniform dull level, and we are at the moment of writing still waiting for the long looked-for reaction from dullness to activity.