The Oriental Bank Failure
reutek's telegrams, AIKLBotrBNE, May 9. It has transpired that the Oriental Bank is indebted to the Victorian Gorernment for L 195.000 on loan account, . L185,<)00 on fixed deposit, L 14.000 oh current account, and L 30,000 m drafts. Mr Service, Premier, has written to the associated banks, contending that they "*• are all jointly liable for any deficiency in the public account that may arise by the failure of the Oriental Bank. No ' reply to Mr Service's letter has yet been returned. Sydney, May 9. Tho New South Wales Government have decided to take steps to recover the amount due to the Public Account by the Oriental Bank. .: $& Received May 10, 1 a.m. . . ''■..„'■ Melbourne, May 9: Legal counsel in this city have expressed •« .=•.• their opinion that the Victorian Govern- • '* ment cannot enforce its claim upon the Associated Banks for any deficiency ' arising in public accounts by the failure of the Oriental Bank, conjoint liability* upon which the Government based its : claim, being non-existent in point of law.
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Bibliographic details
Feilding Star, Volume V, Issue 55, 10 May 1884, Page 2
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170The Oriental Bank Failure Feilding Star, Volume V, Issue 55, 10 May 1884, Page 2
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