AUSTRALIAN COMMERCE.

Wairarapa Daily Times, Volume XV, Issue 4412, 6 May 1893, Page 3

AUSTRALIAN COMMERCE.

;: : :Mr; ; fleo.;;Johnßton, : a; welt-kaown jußt- i:Jreturned; jiftoin's: ; a'?- .trip? y to Außti'(ili^; : ::?wh"or'e;^lidi;Vliaß* ; ; bii6n for^tbebonefitof his/teaUij. In conyerpatioii with a'.rbpresentative of .this journal Mr. Johnston■!staled that-ho enjoyed the.trip very, much, and. be« lieves ..hoi derived /considerable first' landed-in Sydney and after staying .there ■ Borne little'timei' .went Melbourne. ■j.He stptea.'that tbbi country was tßinly.;v; ;^;;i:;;.;ii|SV^:S'S;^.fti rr Jij/NOI SO* QOODAS NEff'ZEALiNPv: V .?';s' lot of it.. was'open bush, and the ground waslooking.very"dried up. He observed a number of;, oases in which efforts had been, made to plough land, the:operations. having to be suspended/ unW;rain ; ?M.«Two days after landing.ih Sydney, Mr Johnston found himselfin;the'thiok..of....tbe financial t'rpubli which' have lately, visited; unthe Joint Stock Bank'suspended payment, andon^the^Friclay;-;fbllowing arush - South Wales^;Commercial,; 'City,;; and the GoyernmeniSaying'B.Banks,J:S2l;fc ■ : ;V;:;:^the;excitemeni.-; ; ;- , :^s; was,'.'fearful iand business■ Vaß,i'cbhipletely.' paralysed. iMen, : .women' and children to know|what; ; "tliey';did;-;::EveDihoße wboseV'intfirestH ...were fyot -."directly Mr; 4 Johnston X;hitn'sejf.-?I Bays"'*-that he V; ; could Jinotvibolp A being much"excited,;;.''at' : seeingmen 'and worn en,; rii Bhin g • thr ou gh.. the' streets, with'bags.in their hands, anxious:.,to be first .at the institution where their, precious gold had been depositedjwith drawn faces,- and apparently taking heed of nothing but the fact that the money was in.danger,. ; At the Government Sayings' Bank the panio.was atthe worst, and the excitement much mbrointerice,};;Thiß.';wa3^caused,by ! 0l- "f- : --:joms ' DEPoßiioßg7 :;; ~.;/: ;: of which'there appeared, to ;be about fivetimes as many as there were men, struggling with, all and sundry; to,; be Many, fainted and 'were;carried ■ out; of the crowd, many;more went into ...hysterics, and r altogether .the sight was one whiph Mr Johnston hopss never to seo again.' The expressions on the sea of faces—foar, ..hope l ;..despair l :.and; sometimes even-/exultation,' as. one mora 'lucky thatf his neighbour elbowed his way but of the mara,of struggling humanityjjvith his.;.gold safe.in his posseaa sight for. a lifetime;; In thelß^eetsi^i;?;!'-^'; t; ;?;;■;} t':A ; OOOD BEIIINS v:£j was actually being done by,.:the bookmakers, ;-who were laying odds as to whether pr.no the banks.would close at 8, p.m; : ;0r keep'open.-; to/.restore confidenco. ■'At'' .8; p,ni£uie banks closed., 8B usual,' but;it':'was'from five.to half past before those who were inside, aticlosing time; were finally cleared ; oui,'.;Mr : Johnston here stated that;, now the otiaia/was over there was no harm, in; stating the,particu-. lars.oi things', ;i£.H{: 5 :-/ V.' \> ''-■ . I AS .THEY. SEALtVvTbOK ; .PLACEr-:V. if for nothing else, to show the folly of creating a. panic,..and.the fearfully ruinous lengths to. which it may go'. Many of the institutions which were rushed were perfectly sound, and Mr Johnston himself saw an express with 20 boxes eaoh containing £IO,OOO removed from one of the principal banks on the Friday night, for distribution at tho various branches in the city, in anticipation of a further rush when the. banks reopened on Saturday morning. Singularly, however, everything was quiet,the panic had subsided, and business was again at its normal state. Many . IDDICROUB AND TOUCHING BCENEB were witnessed during the crisis, One our informant called to mind, in which ho noticed a man standing with a handkerchief to bis face, reading the notice on the door that tho Joint Stock had suspended payment. On enquiry it was found that the day before the unfortunate fellow had doposited £4OO. A ourious phase in connection with the trouble was, that people were rushing the strongest and most solvent banks, and taking out large sums to place on trust in the insolvent banks, Safoa were also grently is demand, and could be seen being oartod about tho city on all sidos, many people who had withdrawn their capital, preferring to keep it under lock and key rather than trust the banks. £1 NOTES. oould not bo cashed in the city at all, and many people looked upon them as so much waste paper, A number of astute speculators were buying them up at 16s each, from those who were foolish enough to part, and in some cases holders oi paper money wero bo far gone that they offered large quantities at 10s each. Mr Johnston was rather struct with the fact that after the Govern' ment had issued a proclamation t( tho effect that they would be 1 sible for the amounts deposited in thi Savings'

16 THE EXCITEMENT WAB HOT AtiiYED ,0 plaiuly showing that people wer e ie completely off thoir heads. Mr 3, Johnston is of opinion that tho y Sydney newspapers were in a measure ir responsible for the panic, because )f they had ull repeatedly stated that tho Associated Banks would stand by d «aoh other in case of a Gnanoial crinis, id Immediately on theso statements a 10 bank suspended payment, aud the y people lost confidence, assuming that n the good banks did not intend to id assißt the weaker ones, after making 10 the agreemont, and, fearful which e- might go next, the rush sot in. False n rumours and reports, circulated by )* speculators of a low character, were 1. probably tho oause of tho first )» run on the banks. Mr Johnston, in ie reply to a question, said it would eerie tainly bo years before Syduey rey. covered from the shock, )- MELBOURNE, 10 Referring to Melbourne, he said he 's considered it to be in a worse oondiit tion than Sydney, from many points r of view. The effects of the late land boom is still severely felt, and the i- labour market is much congested, n Business is very dull and 5. pressed all d over tho city, While in Sydney, Mr d Johnston visited Darlinghurst Gaol. e, and most of the notable places, bnt !S pressure on our space prevents us giving further details, Suffice to say i. ho waa well satisfied to return to n New Zealand's shores, e ' : - ; ;'.-'■?!;■ i • -*■— ''"■;:;:■■'.- y 'When you meet a runaway horse l •' don't you '' give him room ?" When y the trams are coming don't you " step ,t aside?" If you see a falling brick, don't -. you " Btand from under ?" Of course ~ you do I You are aware of the impend; ' ■ ing danger, and get out of the way! There are. other dangers, though, that e you aromuch moro careless of. louaro 0 careless of your health; you abuso your ~ strength, perhaps in ono way, perhaps ~ in another; it, however, all amounts to .:. the same thing. .Whenever ono draws / upon life's fund, so muat the vitality de- ■;. clinej-as the health> and strength ; is depleted so must life be shortened. 1 or;made miserable,:'.'Tako;..warning ; when that tired feeling first-camp.. on, ; those intense and occasional headaches, ■ thoao aching limbs and sleepless nights, thoy are si»ns that tho nervous system is 11 about to collapso, and that danger is nt 8 hand, it may bo disease,perhapsinsanity, ) perhaps death. Be warned in time, I tackle the first signs; do not let debility - get a hold'on your system pr. it may be 8 too lato. ; 'When nature warns you that 0 disease is about to attack you, do tho same as if you saw a chimuoy pot des» ponding on your "head— stand \fro.n II under; sotid'fco your nearest chemist 1 or storekeeper for Clement's Tonic, 3 and'continue its use, as long as thero . is'-;.tho''.fllishtest'sigii of any disorder, . Don't think that one bottle is going to, _: restore -strength . that., jou have been ; ; wearing.piit- for year?;';-. Yiu can't nail . patches on the human body li'ie you can on a barn; you must uso proper means 1 to restore the impaired vitality naturally,. ■ j and this cannot he done in a day, but it| 1 can be and has been dono in hundreds off severe casus by a proper and continued! [ use of Clements Tonic, a medicine that! can be depended on to cure every curabloa [ cane, and that is saying a good deal. Tha I valuoofsuch a remedy ia absolute!* 1 proved by Mr Richard Bunt, Littifl . Denison-'street,'Carrington, Kowcastleß j Aowi-South Wales, .who writes 01H January V 10th, 1893 :- As both! ' niysolf and wife havo been severe sufß fcrs from general debility for a numbeifl 1 of years, we ■■ had the advice of doctoral > and also an unlimited amount of tbeifl -, medicine. We received no benefit froml ; them.;', At last 1 resolved to try Clement' ; Tonic.which 1 have done, and nleo my I wife.:::.:;':-bof6re we.': had-.;finished three bottlesswe. found'great relief, and re- ■■ aolvodjt'ojcbiitinueifcf'C.Wclljlam happy 3 to. say;that,itr has performed-.'.'a thorough ' pure as far as wo are'ooncerned.—l sign 1 on;behalf of my wifo'and myself; yours I gratofully, Richard Bunt, Little Denisou ,; streot^Carringtbh^-'Newc'astle^tNew l south:.v7aies.*:;%:'| :^;:;;V;;; ; :'''';;;;