ANOTHER BANK SMASH.
[BT KLKOTiUC TKLKGRAI'H,—COL'YRICIHT. | Melbourne, January 30. THE Federal Bank of Australia has suspended payment pending a congultation with shareholders.
Owing to the non payment of a dividend last October, confident in tho institution seemed to bo withdrawn, and the present action is duo to the persistent withdrawal of deposits in England and tho colonies, and tho inability io uiakn arrangements with the associated batiks. The liabilities amount to about two millions, of which half is due to British depositors. It is stated tho assets are sufficient to cover all liabilities. Tho capital of the bank is two million, £BOO,OOO being subscribed, and £400,000 paid up. In regard to the Sydney brunch deposits have been withdrawn to sueh an extent lately that is unlikely thoy will now amount to more than £IOO.OOO, while the note issue amounts to only £4,000. This bank's suspending will effect considerably less significance in Sydney than the suspension of tho New Oriental Bank.
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Waikato Times, Volume XL, Issue 3214, 31 January 1893, Page 2
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160ANOTHER BANK SMASH. Waikato Times, Volume XL, Issue 3214, 31 January 1893, Page 2
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