FAILURE OF A BANK.

Wairarapa Daily Times, Volume XIII, Issue 4137, 13 June 1892, Page 2

FAILURE OF A BANK.

Charges of Bash Banking Movement to wind up the "\ ' Qonjpahy.'

(UNITED PRESS ASSOCIATION,)

London, June 9. Tbo New Oriental Bank sharei were offered at £2, but there were ni buyers. ■ June 10

! The Pali Mall Gazetteu Bays'it is reported that tbe depositors in the Oriental B ; ank are. only likely to reppiv«').f}3 mthes, Bush banking is' alleged to have taken plaoe,owing to awe to employ enormous deposits, There are a largenumhef of' Scotch depositors, mbßt of whom ■ are residents of Edinburgh.

Tbe question of re-forming the New, Oriental Bank on the basis of convert-' ing the deposits into preierense shares is being disousßed. '- : - :, "' ,:f Tlie Singapore Government.with' drew itsjjeppsjts from t|e bank, as itj expepted a' suspension. There had been; for some time a growing distrust of (be institution in Great Britain.

; Tbeprket js now quieter. Honf Kong and Shanghai Bank shares havt fallen U, and' others slightly, bul there has been no run on the banks, ~ The press blames the way in whicl 'Hie bank was managed mprevioui years..