Run on a Savings Bank.
Sydney, February 11. A sensation was caused to-day owing to a run on the Savings Bank of New Soutn Wales. Close on £50,000 was withdrawn, and the Bank is still open (8 p.m.), paying all claims in gold. The position of the Bank at the end of the year was as follows t—Deposits, £3,188,000; total assets, £8,438,000. These include .£1,158,00 lent on mortgage, £95,000 invested in debentures, £600,000 lent to the Government, and £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's deposit receipts as cash or for deposit. The Premier announced in the House this afternoon, in order to allay the Blarm, that the Bank was one of the strongest in the world. ,
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Bibliographic details
Pelorus Guardian and Miners' Advocate., Volume 3, Issue 13, 16 February 1892, Page 2
Word Count
148Run on a Savings Bank. Pelorus Guardian and Miners' Advocate., Volume 3, Issue 13, 16 February 1892, Page 2
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