THE FINANCIAL CRISIS.
Another Bank Suspends Paymsnt - WWorst Stage of the Crisis s?i f: ' '*■■' I Melbourne, May 5. ;KThe.Colonial Bank of Australasia hafsuspendod payment, ;.. At..thn.,anuual meeting which was held.''last., week,-, tho.. balance-sheet showed.' that the 'profit had been £32f,oo^o;;:ahiia f (liyidi;iid of B.'per cent wasi declared,' while £13,000 wns oarferredXlso,ooo,from the roseryo fund to;jir'ovido.:for,co!iliugi:ncicß,:-s{ : ■''';■.■>}•' ,-„■. ;The;:bank, : ocpui)ie3astrong' position and.ha'S:,B2 lifan'ches.in'.'.the Colony. It;.waa th ought' tbe;d eraands froiii those ;witlidvawar.pi] ro-opnuiDgto-ruorrow,' inncl tlib dircctprs.therefore decided not to .ppeiii. but. to- recpnaif uct.tlib bank, hringiug,itundef.'.the::LimitfdvLiahilityCompalu»Apt, ' ' v ' . LpNi)6^llay'sy>i.
.cifini- Scotch ..shareholders; ,and.';!de-: poaitprs jp.'.-iliB: London.'.'...Chtiri'ere'd-:J3ank="oT-A|iatrißilia,;-!tlie:'di,aitvrsclietii'c! ibi: t.hp/ recorj.stru ction oft bo ■ jnstiUi/ ■tipn;-'. (,;-..-, '/.^■''■•■■,X'X'ri-,;. ■■ Tha tisii; and Aiiatraiian .'CharteVftd:;- Banli iglitly.. modified; tho .'reconstruc-: : tion''s;liei]i(>i wbitiii:;wi)l\b6 : : pr6i;eede.cl ;wjtli' irresj'i'e'cti.yo' of opposition onjthi ji.art of.a nuni.|ier of&cqtclrdepositors: iand'shareholders. ■.; .; ■\'V .'.■■*■'
y .Experts tte.bru.ro that it : ' wbiildi.bo! easy-to unange an ■aiiMigama}i.ou'"be:v twe'cn- the LjJi'dbn Chartered Bank-of iAustriilia and/the. .English',: Scottish, ahtrAuetrai.i.ari Chavibred B;ink.. .... The.lfinies lioubts; wbel.her.furtlior siispGrisiona;: ofAußtralian; probable, ultliough'therq'mnyihe.sp'uii!'. minor.ciisualties,; p.eji'eatfna.ncial. .authorities believe ;the Avorst:ispast,,; ...,.'.,.'..; ioNDONjAIay::!, ; :'
The. : officials of the. iEhglisbi^Scpfe': .tislj,. aiidi.Australian'Chartered Bank,, '.amii tlje.Lo.nddh. Chartored'VliankVof' Aus.tmlia, deiiy.tho: reports': that these =Xwb--iii9Uutibiisintead-'td;amalgaMate.' ■>:■"■ .;.:■; :.//):'■/;Mays.:;:.;
■ Tbe foilowitig- ishipraents W gold. are'to .bo, iriade■ -lb.-,Aus.traliii • i—Cpm-; mcrciaj. Banking. Companyjof Sydney,' : £2Q6,000 .; Bank'':bf : "Auslrala3ia, ■£2'o6;doo.; : 'Union Bank :of Australia,' je^^tf.OOO:... ,;. ■;;■ ... / ; ;; : ':MELBdUBNEy;May;C;:: ■! Tho: abnrelidi.tlers of ,tli6. Building Society;' ■.have... accepted 'tho .recdnstructiori-s'cheine;..■■■';''., : ".■'■ '■ . :Tho .business, of ;tho/Coldn'iiil?Bsnk toria.. : Tbe. :Bailk; doclined:'the aS3ißt^. ancd'offhe Associated, /-Its liabilities "are |4,89/l,oJ3oi;;including deposits; arid..-interest^;'^B:4Bl^oo.o;; Tjiofissots: inclutJb:.cdin.;und -bailiM cash ■balances,' iss7,o.oo : ; ! :advanceSi ;'■; .;^ : !""''"■
Permanent link to this item
Hononga pūmau ki tēnei tūemi
https://paperspast.natlib.govt.nz/newspapers/WDT18930508.2.14
Bibliographic details
Ngā taipitopito pukapuka
Wairarapa Daily Times, Volume XV, Issue 4413, 8 May 1893, Page 3
Word count
Tapeke kupu
236THE FINANCIAL CRISIS. Wairarapa Daily Times, Volume XV, Issue 4413, 8 May 1893, Page 3
Using this item
Te whakamahi i tēnei tūemi
No known copyright (New Zealand)
To the best of the National Library of New Zealand’s knowledge, under New Zealand law, there is no copyright in this item in New Zealand.
You can copy this item, share it, and post it on a blog or website. It can be modified, remixed and built upon. It can be used commercially. If reproducing this item, it is helpful to include the source.
For further information please refer to the Copyright guide.