FINANCIAL PANIC.

Waikato Times, Volume XXXIX, Issue 3156, 15 September 1892, Page 2

FINANCIAL PANIC.

tie, KI.K(.-rl<li: TKLK(iK.M'I[.- run liiunr.) J/>V])o.\\ Si>) t.:nI IIT IJ. All KAYY run iins taken plaee ~n the Biildie.i; ii-,1,!;, r-:, ~ii li.tiii; .? <,i: llnil-l-injrs. I ■■.:i:ic-.-ry 1,-me. iuvi'ml' :-> i'i" faiiuie of ci!ii|iaiii-'S v.i li w-! 1 1.■ ■, \l ,■ Jal..-z S. IMf.Mir is .toni,.'-t.-d 'I'll- i.tli.-i-jh ..f (h- ]:;,:,]; .!■■.! :>■■ Ilia!, liicri.' an: ■• • > i.'l'Kiuids t'..r su-pr. I • ili<r ils .sliiliility. and an: jiicpareil tu ill" •! any rni> r^i-ury. l-'or tl-.i! ])ii!'piisi. nf cusloineis, the bank will lemaiu nimi liiilil iiiidiiiifhl , . The I'liimi liank of London has "iiiiranicii.i an advance of £1,0(1(1,000, if necessary, Sepfeu.ber i:;. The Run oulholiirkl.ech Bank coutilJlK'.S. The directors sold half a, million won li of consuls to supply the demands of the depositors. Many of (he latter waited all night, and thousands are still wailing. Tho police are niarsiiiilling (Ikjm! twelve deeji al(jug the Stl-ei't.

'i'lio newspapers arc trying to re store confidence.

Later. Tho Birkboch Bank has J.\SOO,OOO invested ia colonial t-touk bonds.

A thief robbed :i depositor of XIIOO at the moment of ■withdrawal. Two others also lost large sums, but in the coiifiisi'ni tho thieves esc-iped.

Yesterday the sum of i'J.3,000 was deposited in the Birkbeck Bank. In tliu height of thr pjinic whieh was reached lo day tho Hank of England advanced liulf a million. The ruin is chiefly confined to tlu; smallest of the depositors.

Seven hundred depositors wore paid their money mid at -1 t>.in the Bank closed but will re-opon to-morrow. There arc signs of retliuillg confidence.