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THE COLLAPSE OF THE LAND BOOM.

(fan press association.) Auckland. December 3. . Advices by the Z^alandlft ot&tj that the land boom in Melbourne has oollspsed. 000 gontlomMi, writing to a fritnd in AackUod, says : — " Tha groat land boom had igLOmlaloußly collapsed, and a general aliasing of bodloa ia no«r being witneaaud. The coloaeal fortunes which we wore told had been made now only itppoor on paper, and tboß^nks, like some vorrolons monßter, are seiz ng victims In all direeUoos Of oootsf, largo eacns of money have been made, bat mostly by tho original owners, who pn-tert early io the year for ORsh. The Bpeculßtir.o, pare and aimple, bave only bills to fall back upon, and those tho Banks will not dieoont at any price. One of tho leaders of tho boom has deputed it prudent to forfeit no lean tfyin £62,000 hard cash In deposits sooner thap go on with payments. His case la that of many others.

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https://paperspast.natlib.govt.nz/newspapers/AG18881204.2.7

Bibliographic details

THE COLLAPSE OF THE LAND BOOM., Ashburton Guardian, Volume VII, Issue 2004, 4 December 1888

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158

THE COLLAPSE OF THE LAND BOOM. Ashburton Guardian, Volume VII, Issue 2004, 4 December 1888

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