RESTORING CONFIDENCE.
"♦ Melbourne, November 22. * The Argus, commenting on the Außtralasian banking return?, says that the remarkable feature is the splendid manner in which the 'calls made by the reconstructed banks are being met, both in the colonies and at Home. In 1890 the market value of a total paid -up capital of L 17.500.000 was L 35.750.000, but the crisis swept away nearly the whole of this market value as well as nearly the whole of the dividend distribution, exceedirg two million a year, yet with the exception of a few cases shareholders responded to the heavy calls in a manner unprecedented in financial annals. Up to September last calls totalling L 3.990.000 have been made, and over L 3,880,000 has been actually paid. It ia no exaggeration to say that the restoration of public credit in the colonies and the confident feeling nowexistont at Home that j they will weather the financial storm are almost entirely due to the admirable manner in which bank shareholders have met their liabilities.
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Bibliographic details
Otago Witness, Issue 2179, 28 November 1895, Page 15
Word Count
171RESTORING CONFIDENCE. Otago Witness, Issue 2179, 28 November 1895, Page 15
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