Thank you for correcting the text in this article. Your corrections improve Papers Past searches for everyone. See the latest corrections.

This article contains searchable text which was automatically generated and may contain errors. Join the community and correct any errors you spot to help us improve Papers Past.

Article image
Article image
Article image
Article image

The Evening Star. PUBLISHED DAILY AT FOUR P.M. Resurrexi. FRIDAY, MARCH 9, 1883.

I r seems somewhat conflicting that while we receive news from England that money was never more plentiful, and that the rate of discount is lower than it has ever been; when we see a four per cent, colonial loan doubly subscribed for at three«and-sixpence above par; in fact, when we hear on all sides that the market is overflowing with capital—the Banks, for a reason best, known to themselves, are attempting to "put on the screw." This action seems to us quite inexplicable. Commercial stability here is proverbial; such a thing as bank" ruptcy is' unknown to •us almost, and on no side can we discover any trade weakness to warrant the exercise of the power placed in the hands of the bank managers. It must be that some unholy alliance has been entered into by them, and why the combination was formed must be for the benefit of the banks them* selves, in the way of gratifying a desire to ■how good statements, and to be in a position to declare large dividends. On all sides are heard complaints of customers being pressed, who are, on the. whole, perfectly sound in their business positions, but are likely to be very seriously inconvenienced, if not really injured, should they be compelled to respond to the pressure in the direction mentioned. Surely the managers of the local banking institutions are competent to advise their chiefs as to the healthy financial condition of their customers, and prevent any trouble such as visited the colony a few years since—and which was chiefly caused by the action of the banks —again occurring. Many men in business require accoinodation for trade purposes, and if called upon to suddenly extinguish any such obligation are compelled to realise at a loss, pay heavily for assistance to enable them to do so, or should they be unable to manage it as expeditiously as they are required ; to protect their other creditors and do justice to themselves, they seek the protection of the bankruptcy laws of the colony. Should a repetition of the occurrences of three years ago, before referred to, take place, all we can say of the banks is " on their heads be it."

Permanent link to this item
Hononga pūmau ki tēnei tūemi

https://paperspast.natlib.govt.nz/newspapers/THS18830309.2.7

Bibliographic details
Ngā taipitopito pukapuka

Thames Star, Volume XIV, Issue 4424, 9 March 1883, Page 2

Word count
Tapeke kupu
381

The Evening Star. PUBLISHED DAILY AT FOUR P.M. Resurrexi. FRIDAY, MARCH 9, 1883. Thames Star, Volume XIV, Issue 4424, 9 March 1883, Page 2

The Evening Star. PUBLISHED DAILY AT FOUR P.M. Resurrexi. FRIDAY, MARCH 9, 1883. Thames Star, Volume XIV, Issue 4424, 9 March 1883, Page 2

Help

Log in or create a Papers Past website account

Use your Papers Past website account to correct newspaper text.

By creating and using this account you agree to our terms of use.

Log in with RealMe®

If you’ve used a RealMe login somewhere else, you can use it here too. If you don’t already have a username and password, just click Log in and you can choose to create one.


Log in again to continue your work

Your session has expired.

Log in again with RealMe®


Alert