RUN ON A BANK.

Otago Witness, Issue 2013, 22 September 1892, Page 19

RUN ON A BANK.

(Peb Pbess Association.)

London, Soptomber 13.

The run on tho Birkbeck Bank continues. The directors sold half a million's worth of consols to supply the demands of depositors, many of whom waited all night, while thousands are still waiting. The police are marshalling them 12 deep along the streets. The newspapers are trying to restore confidence. The Birkbeck Bank has 1,800,000 invested in colonial inscribed stocks and bonds. A thief robbed a depositor of LllOO at the moment of withdrawal. Two other depositors lost large sums of money, the thieves escaping during the confusion. Yesterday the sum' of L 25.000 was deposited in the Birkbeck Bank. When the height of the panic was reached, the Bank of England advanced half a million of money. The run is chiefly confined to the depositors. Seven hundred depositors were paid their money to-day, and at 4 p^m.,tho bank closed, but will reopen to-morrow. There are signs of returning confidence. September l<\. The directors of the Birkbeck B*nk had to sell a further L 400.000 worth of consols to meet the demand. The amount,' however, withdrawn by depositors on Tuesday was much smaller than on Monday. The amount of deposits in the Birkb?ek Bank yesterday was L 21.000, though ,a slight ruu continues. Under a million has bcea withdrawn. September 15. The run on the Birkbeck Bank has stopped. The total amount of rerloposits - "exceed L 70.000. There wore only 1200 withdrawals out of 63,000 accounts. v . September IV. Ib is officially anuouucGd lb>fa Iho total amount withdrawn during tho ruu ou tho, Birkbeck Bank was L 1.500,000, and that tht» repayments into the bank anibutit t > L 250,000. Four and a-half million 'pouuda' worth of con* vertible securities remain intact.