Another Bank Failure
(PEB PBESS ASSOCIATION.) London, May 6. Experts declare that it would be easy to arrange an amalgamation bet wean tbe London Chartered Bank of Australia and the English, Scottish, and Australian Chartered Bank. The Times doubts whether further suspensions of Australian banks are probable, although there may be some minor casualties. The best financial authorities believe the worst is past. Mblboitbnb, May 5. The Colonial Bank of Australasia has suspended payment. At the annual meeting, which was held last week, the balance-sheet showed that the profit had been £32,000, and a dividend of 8 per cent was declared, while £13,000 was carried forward. The directors transferred 1*150,000 from the reserve fund to provide for contingencies. The bank occupies a strong position, and has 82 branches in the colony. This Day. The business of the Colonial Bank of Australasia was confined to Victoria. The bank declined the assistance of the associated banks. Its liabilities are £4,394,000 including deposits and interest. £3,481,000 assets include coin, bullion, cash balance, £'557,000 advances £3,530,---000.
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Bibliographic details
Feilding Star, Volume XIV, Issue 136, 6 May 1893, Page 2
Word Count
172Another Bank Failure Feilding Star, Volume XIV, Issue 136, 6 May 1893, Page 2
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