AUSTRALIAN TELEGRAMS.
-"*': "Melbourne, December 2. ' ■ The passing of the Cornpanys Act Amendment Bill, which stops the compulsory, warding of the Company against the will' and interests of the creditors, has done much to< Allay- the prevailing uneasiness. The failure .of tho Standard Bank has been much talked about of late, and Trhile it remained open confidence wa3 not Hlcely to bV restored. The failure,' however, lias caused some embarrassment of the small traders. Tb,e Federal Building Society took a decisive stand. While not actually suspending payment, it declined to pay, bnt'arranged with one of the Associated Banks to take over the deposits, and gave the unfortunate depositors a deposit receipt for twelve months. This had the desired effect, and restored confidence.
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Bibliographic details
Taranaki Herald, Volume XL, Issue 9257, 5 December 1891, Page 2
Word Count
121AUSTRALIAN TELEGRAMS. Taranaki Herald, Volume XL, Issue 9257, 5 December 1891, Page 2
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