VICTORIAN BANKS.

Evening Post, Volume XLIX, Issue 96, 24 April 1895, Page 2

VICTORIAN BANKS.

[united press association.] (Reooived April 24, 10.30 a.m.) London. 23rd April. Mr. Loader, Chairman of the Melbourne i Board of Directors of tbe City of Melbourm Bank, with the assistance of a firm o: , experts, is prepaiinga scheme for submissioi • to depositors. Melbourne, This Dat. At the meeting of the City of Mcl bonrne Bank the report showed a losi of .£19,700 during the half-year. Deduot ing from this the balance to the credi of the profit and loss account on the pre vions half-year, there is still a deficit o 413,300. The Chairman said that in con sidering the figures tho shareholders Bhoulc boar in mind that assets and liabilities both in the old and new Bank wen i represented, and that there were nc 1 longer two Banks, the liquidation of the ole ' one having been completed. The decline ii wool, wheat, and other products, with uttei oollapso of real estate, made it apparen ; that the directors had undertaken more thai 1 they had calculated upon, hence the missioi i of the chairman to London, whioh thi directors were sanguine would be successful At tho half-yearly meeting of the Colonia L Bank of Außtralasia, the report showed i j loss of £4600, which, dednctcd from tho pro i vions half-year's ba'ance, leaves a credit o . 4240. The directors announced that en , deavours were being made to obtain at ai i early date the consent of the deferred de - posit-receipt holdera to a rcduotion of in tercst.