THE RECENT BANK FAILURES.

Wairarapa Daily Times, Volume XV, Issue 4394, 15 April 1893, Page 3

THE RECENT BANK FAILURES.

Other Banks irilieojmiy}^ , ■■' LONDON,VA|VI'iI .18; ,h : British deposits "in th¥Englisli,' and Außtralian;'.'Cbartered; Bang amount to about equally divided;? between: ;tbe three kingdoms. ; :■■)&■. >Q The Bank's solicitpfsjhayo hejitijiK structed to petition X;thp. .Coilrt f liquidation, with Vyic.w.,tp : protecl. the'; assetß. '"'"" "'

A meeting of tho sbareholdors is ,td be called consider' matters. ■•'■^V':: 7^.:.■; : ;, ■"

An eminent London lexpert !ig preparing a schomo for "tho' rec.ori.Btriiction of the institution,;^ 7 %■ '■■

The directors --bcliovo., JtHiit ..the capital reßcrve is iritacti;aiid,unless the affairs in Australia"nre/foimd 'to to, in an utterly cliaotio slate,.there willbo n surplus of moro thfln>a,;millipn' liability is'sctdoff 11 at —Current accounts; BOOjlOO;. fixed' deposits, £4,058,000. ;^ The liquidators ol thb''no\yiQriciital:' Bankhopo to pay:a'dividend of"itvyb shillings on sth im'SY~;";:;l( '■-

Tho Dank.of Australasia;■and;!jib; Union Bank of Austr'alMiavoarranged tc advanco'Bgain'sidrate'oii London on tho English,*Scottiah, and: Australian Chartered Bank:. ;

Mr Malcolm, of Mcllwanjand/Go;;;; addressing a meeting'pf'shmjioidera-' of the Commercial.'Bank;.Jbought it' would be ftdvisablo'.to-lhcVcase th>, power of control of thp iiondpriißeard: of Directors, and' that leith'pr?ilib:iipiK don or the Melboarne.!Bpar3 : Bhoti.lil be specially selected in..tke.'interests of the British depositors; vflleVcp.iisidpred : the repayment of. bp.v inado in equal inathlmen'tarin Ibur, : ; five, six, or seven years; 'Mr': Malcolm, promised to cablo to. : theini.niingemeht. ; in Melbourne,-suggestingT;iha't. n'o : preference should bomado. jn'i'ho'pa'yn meat of depositors ;- ; alep; that' tho; depositors should \ rank.'■.before the' sliarehelders 'in-:ytbe .reconstructed; bank, Ov'Y*. :.'.-'■ '"■'

The Standardarid-Daily. Tel.egr'aph urge the depositors ripStbjwreck other Banks by withdrawing : mp.ney: u'ude'r pressure of pnmo/ The Times aud ■p'tljer-'newspipers.; blamo tho depositors '.for-:ruihini»; a Bank which is believed toliave a\aiibV stantialbusiness, though;tlie;deposits BgHßflMofed : 6iu6 irictfbapliing

Hlßjy" ,/ SvDNEV,iAprilisi;t;; "HRumoura are rife "'regarding, -tlip. stability of several minor .bank's'..' ■■: Melbourne, v Aprir.lfl, :: -

The suspension offtho .ChaVteredBank has caused comparatively little excitement, The manageiCst iites Hljat taking the Australian lbiisiueas alllie lowest estimato; .thero lwill>satill. bo a largo surplua.aTherb are;.ovor J Jjaif : R million sovereigns" ■Bank!s"Mv fers, but the withdrawals.Wre.sopei;-. sistent that they, : were Compelled -to suspend. '^Y^''-'''s;>'.,