Failure of the Oriental Bank.
'reuter’s telegrams.] GREAT ANXIETY IN SYDNEY AND MELBOURNE. CORPORATION LIABLE FOR £45,000, AND VICTORIAN GOVERNMENT £150,000 DEPOSIT. London, May 2. The Oriental Banking Company, Operative, have suspended payment. Melbourne, May 3. The Evening Herald to-day states that a local branch of the Oriental Bank Corporation, has received a telegram instructing it to stop payment. Sydney, May 5. The doors of the local branch of the Oriental Bank were closed this morning, and considerable anxiety prevails. The Corporation is liable for £45,000 on the note circulation of this colony, and for about 114,000 to other banks doing business in Sydney. Melbourne, May 5. It has transpired that the Victorian Government has £150,000 on deposit with the Oriental Bank.
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Poverty Bay Standard, Volume I, Issue 123, 5 May 1884, Page 2
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122Failure of the Oriental Bank. Poverty Bay Standard, Volume I, Issue 123, 5 May 1884, Page 2
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