BANKING AFFAIRS.
Press Association—By Telegraph—CopyrightMelbourne, February 1. The Bank of Victoria announce-to-day that it will, on May Ist, pay off the whole of the deferred deposits. Ob the same date the National Bank of Australasia will release one-fifth of the deposits of the creditors of the old National Bank. This will reduce tha deferred obligations of both institutions to something over four millions. Since the reconstruction in 1898 the total reduction of deferred liabilities, including the present payment, has been—National Bank, three and a half millions; Bank of Victoria, two and a half millions. The half-yearly report of the Land art- Mortgage Bank of Victoria shows the net loss to be £8840. The General Manager has been sent ,to London to confer with the debentureholders and try to arrange for ft re* duction in the rate of interest.
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Bibliographic details
Press, Volume LIII, Issue 9330, 3 February 1896, Page 5
Word Count
138
BANKING AFFAIRS.
Press, Volume LIII, Issue 9330, 3 February 1896, Page 5
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