BANKING TROUBLES.

Evening Star, Issue 9154, 8 June 1893, Page 2

BANKING TROUBLES.

A PANIC FEARED IN AMERICA

[Pee Press Association.]

WASHINGTON, Junk 7. (Received June 8,1893, at 10 a.m.)

There is much financial uneasiness in the United States. There has been a run on eleven banks in Chicago, the effect being to draw .supplies of gold westward. Grant's locomotive works have failed. LONDON, June 7. (Received June 8,1893, ut 10.50 a.m.)

Orders for compulsory winding up were granted against the Commercial Banking Company of Sydney, the Standard, National of Australasia, and Australian Joint Stock Banks. The Official Receiver will, however, take no steps without the sanction of the Court.

The petition for winding up the Queensland National Bank was adjourned till July 8 pending the discussion of the reconstruction scheme.

Tho petition in re the Royal Bank of Queensland was adjourned till August.

[Special yo Press Association.]

LONDON, June 7. (Received June 8, 1893, at ILS a.m.)

At tho hearing of tho petition for winding up tho Australian Joint Stock Bank, Mr Cozens Hardy pleaded that a compulsory order would do harm to the bank. He was satisfied that the law of New South Wales was binding upon the English section of the bank. Judge Williams directed that the English Act gave control over the banks doing business in England. A meeting will be held on Friday, with a view to getting the approval of the Court to the reconstruction scheme.