RUN ON A SAVINGS BANK.
EXCITING SOENK
Pr«tt AasoeUtiOD— Electrio Telegraph— Copyrigfc. SiDNsr, February 11.
A sensation was caused to-day owing to a run on the Savings Bank of New South Walei. Close on £50,000 was withdrawn, and the Bank is still (8 p.m.) open," paying all claims in gold. The position of the Bank at the end of the year was—Dβposits £3,858,000, total assets £3,433.000. These include £1,153,000 leufc on mortgage, £95,000 invested in debentures, £600,000 lent to the Government, and £1,500,000 deposited iv other Banks. Nothing is known as to the cause of the run. The Bank is besieged by an excited crowd. The associated banks have issued a notice thac they are prepared to receive savings bank deposit receipts as cash or for deposit.
The Premier announced in the House this afternoon in order to allay ail alarm, that the bank was one of the strongest in the world.
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Bibliographic details
Press, Volume XLIX, Issue 8096, 12 February 1892, Page 5
Word Count
152RUN ON A SAVINGS BANK. Press, Volume XLIX, Issue 8096, 12 February 1892, Page 5
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