BANKING AFFAIRS.
Press AnodftUan—Bleotria Telegraph— Copyright. Melbourne, May 8. The general opinion on the Exchange is that the bank scare has ended. The suspension of the Colonial Bank of Australasia created no surprise, as io was expected. Sir M. Davies made a statement to the Court that he believed the Mercantile Bank was thoroughly solvent when the accounts were laid before him. He always took it for granted that allowance had been made for possible losses. He denied any conspiracy with Milledge, the manager. The latter also made a statement denying the charge of conspiracy. London, May 7. The Union Bank of Australia has shipped a million in gold to meet possible needs. Owing to the amount of money locked up in the Banks that have suspended further shipments will possibly follow.
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Press, Volume L, Issue 8478, 9 May 1893, Page 5
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132BANKING AFFAIRS. Press, Volume L, Issue 8478, 9 May 1893, Page 5
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