RUN ON THE CHARTERED BANK OF AUSTRALIA.
(Received May 26, 2.15 p.m.) MELBOURNE. M6nday, 10 a.m. A rumor was widely circulated hero on Saturday and Sunday that the London Chartered Bank of Australia was about to suspend payment. The newspapers this morning, however, publish paragraphs showing that the bank is thoroughly sound, and has a large balance of assets over liabilities. It is further announced that the local manager received a telegram from London on Saturday stating that the bank has declared a diridend of 5 per cent, for the past half-year, and carried £25,000 to the reserve fund. 10.15 a:m. There was a considerable rueh of depositors this morning to the London Chartered Bank to withdraw their balances, but it is understood that the bank is prepared for any emergency. 11 a.m.
The rush on the London Chartered Bank was of no importance, and has now ceased. More money has been to-day deposited than withdrawn up to the present time. , (Received May 27, 1 a.m.) The run on the Chartered Bank of Australia to-day was chiefly confined to notes, and the total withdrawals have ■- been slight. It is believed that the rumors regarding the stability of the bank were circulated with a malicious intents : :
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Daily Telegraph (Napier), Issue 4008, 27 May 1884, Page 3
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205RUN ON THE CHARTERED BANK OF AUSTRALIA. Daily Telegraph (Napier), Issue 4008, 27 May 1884, Page 3
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