CASE.

Grey River Argus, Volume XIII, Issue 1540, 11 July 1873, Page 4

CASE.

Thd-'MelbounieJ'cdrresp'ond'e'nt'ef-^he Otmp paikf ,r»es" !: writes :$£- fdtlb'ws^ uridfer> { d t ale' i Junb'l9'(;h ( i^'WM js»; Borne remar^k'ble 1 'banking, cases' J during the last fiwadys. One of ihese was the case-of^Degraves v. MfMullen. > Jn,,^ great fancy baU, i .that/;wei'ji^d. l in^#elbourne some years ago I:rememhißr<seeing as Napoleon I. His stature, cast of face, square cut chin, anifcShSvfen cheek, wonderfully.assisted- the effect of his costume in t nfakmg.him:ailivirig^epresfen^a'tftm ( of | the First Napoleon. , And, .to .judge from* the evidence, the 'fall bf^the'-French Emperor from the throne of France to the mock,jß,qve.rjeignty.of Ejba.or^the pjipson.pf Sfßel^ha was ii'ot; a much more decided, collapse" th'an> ; his 1 colonial* 'simulacrum' at--1 n ?)l a fl c -^: W- ha^ sinee .exnerieijced!.! His enormous wealth did no| ,k.eep v him.out.qf, thd^HaVpy 'iciujtches 'of': me '. Banks' V- Wborrowed "immfens^'sums 1 r: f or' ttib^pur^ose 1 of -ttpeculaiadiv '•carried 11 oh '''widespreadtransactions ranging over several 'colonies' 1 when ' thef bubble burst. The great capitalkt'wasßund r 6uf''to' I b l e'; an'empVf name'blown! but with^bbrrowed'^ital-' 1 and,the.orange, rafter ibeingfdulyseiuee^a dry>b.y[a ; blan,d;inanageE i; was casti asidevas rubbish. The whole of the; ezßpsure pfr these transactions 7 fljf'.-fifr 5 Bfegravek, a'Director of^aeiiTJhfori^-ißafayj^with Mr M'Mullen^.^ts, Inspector and General Manager, is not conducive . to a ,i eeling- of . reverJßnce for .those great financial inptituftions. Mr Degravea' buys from the Bank f of wMch ,l^e iis^.a,, Pirector/aj^rojertyii^ the Understanding that JMt M,'Hulieo, who, aa Manager -WW^MfW$% seller, f is,to ( J9in,him in the purchase^M is to ;'adva'iice J capital at 7 per cent, to carry on th'e'Statipn. " It is hard f,o>, such,, a trftosaction'as thi^ 'to 166k 6^herthansus? J pici6uW. i; / f (And : "tßiilbf c tfie; i# ! in" winch after he had been atlowedjm over6ia,ito{ Ll(K)^O(K)pKis~^^quesrfpr,,*liff weWirefused, and the crash'p'recipitated, has not tended to occasion a-very great amountof sympathy with the Bank or bank manager/ The jury gave a verdict for LIO,OOO, and the public .^or^ughly endorsed- jthejin/^ ing.' iJegraveß was by no means! a popular mani>Bullying, r purse-proud; 'ignortatf aiiffd 0 dogmatic, he ( is byj : tn6, (j meanSja; favorably specimen of a not at all lovely class— that of the I ! dolbnial* millionaire ; but it was sumcient to see even him " screwed " by a Bank to enlist general feeling in hu behalf.