BANK FAILURES.
London, May 9. The Times says that £',000,000, of Scotch deposits in the banks which have suspended recently are due on the lf»th inst., and that it is very probable a large proportion of them will be withdrawn. The banks are preparing to meet the contingency. The suspension of the Bank of Victoria lias had a bad effect in the face of the reassurfng nature of cables which had be-jji receutly published during the last few days. The suspension has also bad an effect in fluanpiul circles iu ISew York. Melbourne, May 10. Tho suspension of the Bank of Victoria has caused a disturbed feeling, especially in tlte country districts, in some of which there is no other bank available. The reconstruction schemte leaves it optional wi:,h depositors I*> accept" shares. It is estimated th.it the suspension of the six large banks has locked up £40,100,000, of which £L9,600,00Q is in Victoria, £11,000,000 in England, and the rest in the other colonies. May 11. The ?-Telbourne Metropolitan Board of Works is placed iu a serious position through tho recent suspensions of the Commercial Bank and Bank of Victoria. The board has £000,01)0 of the last loan tied up.
Permanent link to this item
Hononga pūmau ki tēnei tūemi
https://paperspast.natlib.govt.nz/newspapers/TEML18930513.2.4
Bibliographic details
Ngā taipitopito pukapuka
Temuka Leader, Issue 2502, 13 May 1893, Page 1
Word count
Tapeke kupu
200BANK FAILURES. Temuka Leader, Issue 2502, 13 May 1893, Page 1
Using this item
Te whakamahi i tēnei tūemi
No known copyright (New Zealand)
To the best of the National Library of New Zealand’s knowledge, under New Zealand law, there is no copyright in this item in New Zealand.
You can copy this item, share it, and post it on a blog or website. It can be modified, remixed and built upon. It can be used commercially. If reproducing this item, it is helpful to include the source.
For further information please refer to the Copyright guide.
Log in