RUN OH THE AUCKLAND SAVINGS BANK.
A Practical Me Results in a Panic, (By Telegraph.—Press Association,) Auckland. Friday.
A most extraordinary run on the Auckland Savings Bank tot in this morning. Thousands of people congregated in fiont of the Queon-sireet premise.", many withdrawing l.'jiir money. Tho hank is stated mhe thoroughly sound, and not a shadow of a reason for such remarkablo proceedings, but a story is now wide spread, and it will take a littlp time for people to realiso their foolishness. One statement is that it is the result of a practical joke. Later, Tho rim on the Savings Bank continues, imt it is not likely to be serious, It is now understood Iknt iho panic was caused t>y n report that iho institution was heuvil/ involved bytheL'>niiandMereatitilosuS|.eiision, The Frust'CS state that thero is no truth in ihis report. They meet ut noon to prepare a manifesto lo the [pulilic. At 11 o'clock tho manage., Mr Cameron, addressed the crowd in tho bank. Ho showed the cash hook, with a working capital ot ,£75,000 today. Ho said ihat it, was absolutely untrue, ihat the Bonk was connected with the Loan and Mercantile Company. This allayed the fears, and many went out kigbing. Lidits' aro still thronging in for small deposits, hut the panic is practically over. The manager wen t amongst the crowd showing the hank book to individuals. John Edson, one of tho directors, re»nssured others.
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Wairarapa Daily Times, Volume XV, Issue 4512, 1 September 1893, Page 3
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239RUN OH THE AUCKLAND SAVINGS BANK. Wairarapa Daily Times, Volume XV, Issue 4512, 1 September 1893, Page 3
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