 Both enterprises survived the 1825 crisis but, on 19 January 1832, Waters, Jones & Co. suspended all payments.The partners in Carmarthen Bank at this time were John Waters, Arthur Jones and David Jones, all of Carmarthen.Attempts were made to avoid bankruptcy, and on 7 February 1832, an agreement was drawn up which recited that the accounts had been inspected on 21 January 1832, and that assets were sufficient to meet liabilities.