THE FINANCIAL CRISIS.
The Amount of Money Locked, ■■ Sydney, May 10. Tho suspension of the Batik of Victoria caused nos'.ir here. Banking ; business, appears, to have resumed its normal course.. Melbourne, May 10. . The suspension of tho Dank of Victoria has. created; a disturbed feeling,, especially in tho country districts, in some of which thero is no other bank available. Tho reconstruction scheme : leaves it optional with tho depositors to accept shares.. It is estimated that tho suspension of tho six largos banks has locked; up £•10,100,000 of money,; of; which Jciyi6o(j,oooißinVictoriaj£ll,Gdojbo6 : in Kngland, aud the rest in .the other '. colonies. London, May .10. ■... The Standard says the Australian . Joint Stock Bank has modified its ( reconstruction schemo on tho most' j equitable lines. A Council of Foreign Bondholders for the protection of tho interests of depositors, is being formed iu Scot- (. land. . : The suspension of tho Bank of ! Victoria has. bad & bad effect in . the . City, especially in the face of tho rej. assuring nature of the cable messages ; which have been published during tho last few days, The suspension has y also had a bad effect in financial B circles :in Nov,York, • 8 Melbouune, May 11, D The Melbourne Metropolitan Board of Works is placed in a serious position tlirounh tlio recent' suspensions, I Between tho Commercial Bank and a tho Bank of Victoria tho Board has j £OOO,OOO of the last loan tied up.
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Wairarapa Daily Times, Volume XV, Issue 4416, 12 May 1893, Page 3
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236THE FINANCIAL CRISIS. Wairarapa Daily Times, Volume XV, Issue 4416, 12 May 1893, Page 3
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