OUR NEWS LETTER.

Wairoa Bell, Volume V, Issue 214, 8 September 1893, Page 2

OUR NEWS LETTER.

Or. DaJzicl of Pakckolie, was found guilty of ill-treating Lis daughter, aged 21- years, by beating- her. Captain Jackson, It. Ml, hoard the case and fined defendant 2110, or in default two month’s imprisonment with hard labour. This was the highest penalty allowed by law. Triday last was made memorable in Auckland by the run which set in on the Auckland Savings Bank about 11 a.m and continued throughout the day. It was rumoured that the Bank had been struck by the failure of the Loan and Mercantile Company and the run sob in, Very rapidly the news of the run spread and hundreds of men and women arrived to clamour for their money. There was really not the slightest cause for alarm as this Bank is about the best able to stand such a Mpaim .Demands were paid in full without difficulty as fast as they were made and the panic gradually subsided. As a consequence of the run on the Auckland Savings Bank a large number oflfdeposits were placed in the Government Savings Bank. The Trustees of the Bank issued the following statement and gradually the madness of excited people settled down, “ The Trustees of the Auck-

land Savings Bank assure the Depositors that the alarm manifested by Depositors is entirely groundless. The position of the Bank is absolutely safe and unassailable. Thejrumour that the Bank has sustained losses through the suspension of the Doan and Mercantile Agency Company is absolutely false. The Bank has not now, and never had, any shares in or deposits with that Company, or shares in any other institution or company whatsoever. The whole of the liabilities of the Bank are repressed by unimpeachable securities. There is ? n " , available for paymentof depositors unmeduu. . - of £474,000 in Government the large emoun, - Besides this, securities and Cash One,. —enrages £*>/U there is invested in iirst-eiass mx-E to 6,41. The Bank has resources aniounm, £549,420, including a Reserve Bund in excess of its liabilities of £30,000. By resolution of the 'trustees, Depositors who desire to withdraw will bo paid in cash on demand. The trustees also passed the following resolutions at the meeting today :— ‘ That the trustees of

the Auckland Savings Bank desire to thank the Government for the prompt and. unsolicited action taken by it in reference to the run upon the bank yesterday, and to recognise how largely that notion was calculated to restore confidence. The trustees desire further to inform the Government that the resources of the Bank are well in hand and amply sufficient to meet all demands. The trustees are pleased io inform the Government that the business of the bank has returned to its normal state.