Australian Banks.
[Special to Press Association.] LONDON, August 8. Purchases are being made of notes, drafts and depoait receipts in the City of Melbourne Bank. Several thousand pounds' worth were bought to-day at 7« 6d in the .£. The Edinburgh meeting agreed to the Australian Deposit and Mortgage Bank scheme, subject to the bank I repaying 30 per ceut of. the old deposit debenture debt, in three annual instalments of 10 per cent each, instead of six instalments of 5 per cent each. The Standard advises the sale of the good current City of Melbourne Bank business to other banks, and the formation of a small assets company to slowly realise the remainder of the assets.
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https://paperspast.natlib.govt.nz/newspapers/TS18950810.2.54
Bibliographic details
Star (Christchurch), Issue 5333, 10 August 1895, Page 6
Word Count
115Australian Banks. Star (Christchurch), Issue 5333, 10 August 1895, Page 6
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