THE FINANCIAL CRISIS.

Wairarapa Daily Times, Volume XV, Issue 4420, 16 May 1893, Page 2

THE FINANCIAL CRISIS.

Proposal for Independent Audit

London, .May 13. ■ Four New South Wales bonks will shortly join in urging the Government to set aside land revenue to to provide interest on the sinking fund deht,

The Daily News urges that independent experts in England should audit the accounts of the banks which have rcoently suspended payment, and also of the Colonial Governments,

The amended scheme for the re> construction of the English, Scottish and Australian Chartered Bank has been approved,

The shareholder! and depositors of theNatioualßank of Australasia will, on Thursday next, consider the scheme for the reconstruction of that institution.

New Yobk, may 18. The fall in stocks has caused the suspension of a number of small American Banks.

London, May 18. Seven small brokers or the Exchange hare suspended payment, owing to the tightness of the money market.

The manager of the Standard Bank had a conference with the depositor* in Edinburgh, and as a result they have agreed to renew their deposits in the institution for seven years, May 14, Throe more brokers carrying on business on a small scale have failed,

Sydney, Way 15. The Government proposes to amalgamate the Government Savings Bank and the Post Office Savings Bank,

fyIELBOUBKE, May 15, Tho Manager of the English, Scottish, and Australian Chartered Bank states that the cable message from London announcing the proposed amalgamation of the Bank with tho London Chartered Bank, is incorrect.