The Financial Crisis.

Pelorus Guardian and Miners' Advocate., Volume 4, Issue 38, 19 May 1893, Page 2

The Financial Crisis.

Brisbane, May 15. The Queensland National Bank has suspended payment. Its liabilities are £10,622,970, including £8,524,962 of deposits. The assets include £8,185,387 worth of advances and other due debts, also £106,895 worth of coin and bullion. The cause of suspension is attributed to the continuous withdrawal of money in hand and on office. A scheme of reconstruction is now under con-, sideration. The Bank of North Queensland has also suspended, pending reconstruction. Its liabilities are £651,303, including £350,776 deposits, and the assets include £109,115 in coin and bullion, and £494,402 in advances. The Government are guaranteeing notes of the National Bank. The Permanent Building and Benefit Society has suspended owing to its banking with the Queensland National Bank. May 16. The Federal Building Land and Investment Society has suspended. The paid up capital is £85,000, and deposits amount to £34,800. Sydney, May 15. The Commercial Banking Company of Sydney has suspended payment pending reconstruction. The decision was arrived at at a meeting of Directors this afternoon. The liabilities are over fourteen million pounds, including eleven million four hundred and forty - four thousand pounds of deposits, and the assets include coin and bullion £1,702,000, advances, etc., £11,016,000. The suspension has caused considerable surprise, as it was hoped that general confidence had been restored. Withdrawals of deposits have been steadily kept up, and over a million pounds was taken out of the bank during the last few days. A scheme for reconstructing the institution is under consideration. Melbourne, May 18. The City of Melbourne Bank has suspended'payment, owing the withdrawal of Scotch deposits. A scheme of reconstruction is being prepared. Ladies’ 'Black Cashmere Dress Parcel. —Full Dress length blue-black Cashmere xo/6, xyrd black fancy silk for trimming 4/6, 4yrds skirt lining for i/6, ayrds body lining for i/-, x pair ladies’ corsets for 6/5. i pretty white apron x/6. The whole lot for 25/6. carriage paid, from Te Aro House, Wellington. A Wonderful Parcel.— Melton Tweed rress in navy, grey, brown, or claret, xo/6, lyrd shot velvet trimming 2/11. 4yrds skirt ining x/6, 2yrds body lining 1/-, 6yrds striped flannelette for calicoe for 4/6, 1 pair ladies corsets, any size, 4/6. The whole lot for 28/2, carriage paid, from Te Aro House, Wellington.