CITY OF MELBOURNE BANK.
Melbourne, this day.
The " Age " states bhab bhe suspension of the City of Melbourne Bank will nob materially affect • local interests, as the resulb was long previously discounted in financial circles. Ib will be mosb seriously felb in the country districts. Large sums have been advanced on mining plant on the securiby of calls bo come in. If borrowing companies cannob transfer loans in some instances bhey will have bo wind up. Strong hopes are entertained thab arrangements will be made to re-opeh the bank. ■. ■ •:•>> v The "Argus " doubts wheHher bhe British creditors have taken the wisest course in closing bhe City of, Melbourne Bank and says there is no use blinking £be fact thab bhe loss of confidence of bhe multitude of Scobbish depositors in Australian institutions hasbroughb more disastrous results to Scotland than bhe closing of the illfated City of Glasgow Bank-
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Bibliographic details
Auckland Star, Volume XXVI, Issue 190, 10 August 1895, Page 5
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148CITY OF MELBOURNE BANK. Auckland Star, Volume XXVI, Issue 190, 10 August 1895, Page 5
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