BANKING AFFAIRS.
Pna AaaoaUUoa—Klectrio Telegraph—Copyrieht. London, May 10. The Standard says that the Australian Joint: Stock Bank has modified its reconstruction scheme on more equitable lines. A Council of foreign bondholders lor ths of the interests of depositors is being formed in Scotland. The suspension of the Bank of Victoria has had a bad effect in the city, especially in the face of. the re-assuring nature of the cables which have been published duriug the last few days. The suspension has also had an effect iv financial circles in New York. Melbourne, May 11. The Melbourne Metropolitan Board of Works is placed iv a serious position through the recent suspensions. Between the Commercial Bank and Bank of Victoria the Board has £600,000 of the last loan tied up. Sir M. Pavies and Milledga were committed for trial on a charge of conspiracy, and bail was fixed at £1000 each, and two sureties of £500 each. A firm of solicitors has received instructions on behalf of Scotch depositors to oppose the reconstruction of the Standard Bank.
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Press, Volume L, Issue 8481, 12 May 1893, Page 5
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175BANKING AFFAIRS. Press, Volume L, Issue 8481, 12 May 1893, Page 5
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