THE FINANCIAL CRISIS.

Wairarapa Daily Times, Volume XV, Issue 4425, 22 May 1893, Page 3

THE FINANCIAL CRISIS.

Wmdinwn Proceedings, Lokdok, May 19. "All'{ho papers are hopeful, that the worst of the finanoial cruuf in ADS■ttaliahaß passed. _ ! Largo purcliaseßofcolonialatocuby insurance companies and investors have bad an excellent effect.' The trader of tlio New South Wales Gofornmentaccount 1b regarded as a great reinforcement to the Bank of New South Wales. The Daily News states that Messrs Rothschild are taking the Commercial Banking Company of Sydney's accop-; tancea, and are already protecting the drafts of Bishop and Company, of Honolulu, drawn upon that Bank. The petitions of creditors for the compulsory winding up of the Mercantile, Finance and Trustees Agency of Queensland, the National Bank of Australasia, and tboUity of Melbourne

Dank, will all be heard on the 7th Juno. The Commercial Banking Company ol Sjdnoy lias presented a petition for the voluntary winding-up of the ininstitution, which will also be heard on tho 7th June, Mr J. H. Hoaton, in n letter to the Times, insists that amalgamation ought to be effected botween certain of the suspended banks, and advises that meetings of oreditors be held in London to promote the object.. He considers it unfair to turn tho deports in the banks into shares, New York, May 19. Many of the Australian visitors to the Chicago Exhibition find tlieraselves in finanoial difficulties, owing to the refusal of the Sun Francisco Banks to honour their drafts without additional endorsements.