Banking Affairs.

Feilding Star, Volume XVI, Issue 177, 26 January 1895, Page 2

Banking Affairs.

o I Per Press Association. I London, January 18. The Pall Mall Gazette sajs the Scotch banks have not yet decided to guarantee the deposits of some of the reconstructed I Australian banks, but negotiations on the subject are proceeding. The Official Receiver has examined MesersMeldrum,Cnthbertson and Anderson, mainly to ascertain whether the Bank of South Australia paid the recent dividends out of capital. January 21. It is believed that the origin of Friday's rumour that the Scotch Banks were willin" to assist the Australian reconstructed Banks in paying interest on deposits was from a number of Scotch agents, who were of opinion that the depositors in these recoiistmctrd Banks were willing to accept reduced interest, and extend the period for repayment. At the half yearly meeting of the Union Bank of Australia tha balance sheet slioued a profit of £57,000, The deposits amount to £16,800,000, pnblic securities and caah iiems £6,144,000; advances, bills receivable and discounted £15,280---000. The directors in their report state they have made largo reserves for doubtful dependencies. ■