Run on the New South Wales Savings Bank.
A sensation was caused on Thursday owing to a> run on the Savings Bank of New South Wales. Close on £50,000 was withdrawn, and the ! ank kept open till 8 p.m. paying all claims in gold. The position of the Bank at the end of the year was as follows: — 1 Deposits, £8,188,000; total assets,
£4,488,000. These include £1,158---000 lent on mortgage, £95,000 invested on debentures, £600,000 lent to the Government, and £1,500,000 deposited in other banks. , Nothing is known as to the cause of the run. The Bank is besieged by an excited crowd. The Associated Banks have issued a notice that they are prepared to >■ receive Savings Bank's deposit receipts as cash or for deposit. The Premier announced in the House this afternoon, in order to allay the alarm, that the Bank was one of the strongest in the world. —
Press Association.
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Manawatu Herald, Volume III, Issue III, 13 February 1892, Page 2
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152Run on the New South Wales Savings Bank. Manawatu Herald, Volume III, Issue III, 13 February 1892, Page 2
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