FINANCIAL CRISIS.

Wairarapa Daily Times, Volume XV, Issue 4435, 3 June 1893, Page 3

FINANCIAL CRISIS.

Activity in Australian Stock, Sydney, June 1. The meeting of the creditors of tho Australian Joint Stock Bank ordered by tho Supreme Court, unanimously adopted the reconstruction scheme. London, ■ June i, "Xeßterday's settlement in the Slock Exchange disclosed the largest number of small transfers of Australian ■Government stocks known for years, This activity is dwto the cheapness of colonial bon3^pkpow., Thß Bank of England ha's received £1,600,000 in gold from America this week. The effect has been to oauso a remarkable collapse in discoqnte, The Oriental Hank pays a dividend of 2j in the pound, London, June 1.; Money i 8 very plentiful and in consequence the rate of discount for three months' bills has been reduced to 1% percent. -'■: Ottawa, J»nc 1. Tho Earl of Jersey, late Governor of Nei? Soqth who is enroutt to England, was interviewed to-day in Winnipeg. He declared that Austiaha would sustain no permanent injury from the financial crisis existing there, He eulogised, thepatriotio aoi tion ot the statesmen of tho colony, and emphasised the great possibilities of the trado between Canada and Australia. ' ' r ,

> Sidney, June 2. ■ Up to tho present, the Govoimnont' > Ims-advanced £42,000 to'holders of ourrent accounts in the suspended banks. r