INTERCOLONIAL.

Otago Witness, Issue 1956, 20 August 1891, Page 24

INTERCOLONIAL.

(Per Pbess Association.) Melbourne, August 19.

The Anglo-Australian Bank, which has its headquarters here and branches at Adelaide, Hobart, and London, suspended payment this morning. ,

It is understood that it is involved with the British Bank. It was intended when the latter olosed to have effected a reconstruction of both institutions by amalgamation. The liabilities are £544,000, and the assets the same amount, consisting of freehold properties and advances. The suspension has not created any sensation.

Sydney, August 19.

The Australian Meroantile Loan and Guarantee Bank, with its head office here and branches in different colonies and London, has suspended payment. Its report for period ending June last is a curious document, and very little can be made out of it. So far as can be seen the profits last year amounted to £375, but the directors thought it inadvisable to declare a dividend, and carried the amount forward. Singularly enough, the document is nob signed by any director. The nominal capital of the bank is half a million, and the called-up capital £70,000. The suspension is said to be due to a run on the Melbourne branch caused by the failure of the British Bank and the defalcation of one of the directors, who has fled.