MELBOURNE FAILURES.

Waikato Times, Volume XXXVII, Issue 3026, 5 December 1891, Page 2

MELBOURNE FAILURES.

(HY ELECTRIC TELEGRAPH—COPYRIGHT). Meluouhxe, December 3. The Melbourne Permanent Building Society has suspended payment. Its overdraft to the bank is £23,000, and the amouut on deposit in the Society is £430,000. The assets are estimated at £700,000 The Metropolitan Bank announces that it must suspend payment owing to the run by depositors. The Associated Banks refused to assist the institution. The actual present position of the bank has not been disclosed, although tho directors declare that when the assets are realised there will bo ample funds to cover all demands. The bank has agencies in Edinburgh and London. According to the bal» ance-sheet to tho end of Juno, the capital of the institution was a million sterling, and the subscribed capital £050,000, of which £380,000 was paid up. The deposits amounted to £385,000, and the reserve to £100,000. The amount due to other banks was £69,000. Other liabilities were set down at £08,000, making the total liabilities £1.481,000. The assets include mortgages, £1,210,000; freehold property, £221,000. December 4. The Standard Bank, which has an agency in London, suspended payment at midnight. The balance-sheet submitted in August last shows subscribed capital £»07,000; deposits, £1,099,000 ; reserve, £100,000. The assets include uncalled capital, £254,100; advances. £1339,000 ; and other securities £920,000. Later. The Standard Bank, which has suspended payment, is not a bank of issue, but a small financial institution.