NEW SOUTH WALES.
Another Failure. Australian, Joint Stock Bank. Sydney, This day. The Australian Joint Stock Bank suspended payment at midnight. The suspension ia attributed to excessive withdrawals fci&ca Tuesday, and the coin coffers were so reduced that it wae determined to suspend. The Bank opens this morning to receive new accounts, pending tho ro-construction of the institution. The deposits amount to £10,800,000, about £4,000,000 being deposited outside of the colonies. There still remains £1 pjr chare of uncalled capital. At the end of December the assets included £461,000 worth of Government stoaks. The debts due to the bank amount to £10,440,000. The Government rojently offered assistance to various institutions in any way required, but a meeting of bank managers decided they should stand together. The Australian Joint Stock Bank conducted business in London, Queensland, and New South Wales.
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Bibliographic details
Daily Telegraph (Napier), Issue 6738, 21 April 1893, Page 3
Word Count
139NEW SOUTH WALES. Daily Telegraph (Napier), Issue 6738, 21 April 1893, Page 3
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