AUSTRALIAN NEWS.
(I'Ell UNITED TUESS ASSOCIATION.) Received February Hi at 10.30 a.m.] Sydney, February 11. A sensation was caused to-day owing to a run on the Savings Bank of New South Wales. Close on L 50.000 were wit h - drawn, and the Bank is still (8 p.m.) open paying all claims in gold. The position of 'the Bank at the end of the year was : Deposits, L 31,888,000 (!) ; total assets, L 3,433,000. These include LI, 158,000 lent on mortgage, Loo,ooo invested in debentures, L(i00,000 lent to the Government, and L 1,500,000 deposited in other banks. Nothing is known as to the cause of the run. The Bank is besieged by an excited crowd. The associated banks have issued a notice that they are prepared to receive Savings Bank deposit receipts as cash or for deposit. The Premier announced in the House this afternoon, in order to allay the alarm, that the Bank was one of the strongest in the world. The Lubeck, from Samoa, brings news that a large meeting will shortly be held to decide whether the King's Government or Mataafa's cause shall be adhered to. Eggcrt, of the German Land Commission, desires to resign, on the ground of illhealth.
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Bibliographic details
Oamaru Mail, Volume XVII, Issue 5206, 12 February 1892, Page 1
Word Count
201AUSTRALIAN NEWS. Oamaru Mail, Volume XVII, Issue 5206, 12 February 1892, Page 1
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