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THE BANK tósPEîïÉOJÉlj
as '
THE STANDARD BANK OF
AUSTRALIA.
A DIFFERENCE OVER THE RE.
w CONSTRUCTION SCHEME.
?"»5-*»Jr^E^
RESIGNATION OF THE SCOTCH
DEPOSIT AGENTS.
THE SITUATION IN MELBOURNE
by AFTER THE HOLIDAYS.
z i <
OTHER END OF THE SCARE
REACHED.
Vu s. 'J
THE, RECONSTRUCTION OF THE
AJS. BANK.
v *
REVISION OF THE SCHEME.
of
[BY CABLE.]
, 3rd ... ?
(FROM OUR CORRESPONDENT.)
London, May 8.
Messrs, Pringle, Dallas & Co., the
deposit agents at Edinburgh for the
% Standard Bank of Australia, have resigned,
because they do not agree with the scheme
of reconstruction of the Bank put forward
by the directors, and also because the
directors refused to call meetings of the
Scottish depositors. Messrs. Pringle,
Dallas & Co. have convened a meeting in
opposition to the scheme. The meeting
will take place to-morrow.
[By Telegraph]
(From our Correspondent.) Just
.- ? , Melbourne, May 8.
The opening of the banks for ordinary
business, on Saturday, proved an event of,
considerable interest. Collins-street was
crowded with pedestrians, large numbers of
whom bring about the bank premises, giving
the street an air of unwonted excitement. So
far as could be gathered, the business transacted
by the banks was not of a nature to
cause any fear of such a scare as brought
about the suspension of the National Bank.
There was, of course, a great volume of business,
representing the arrears of the week,
transacted, but the transactions appeared to
be of a general nature, there being little in
them to suggest the withdrawal of deposits.
fit the case of each bank, extra provision' was
made for theooavenienoe of those who wished
to withdraw their each, and this resource was
found to be more than ample. As the hour
for closing approached, the excitement
seemed to die out, and the banking chambers,
in almost every instance, presented a normal
Saturday appearance, and the general opinion
seemed, to be that the end of the scene had
been reached.
Sydney, May 8.
The re-construction scheme of the Australian
Joint Stock Bank has undergone final
revisions by a conference between a committee
appointed by the depositors at the
meeting on Friday, and the directors of the
institution.'-, One important alteration has
been introduced, providing for the issue of
negotiable inscribed deposit- stock, for snob,
depositors as are unwilling to take up preferential
shares. Such stock will bear interest
at "the rate of 6d per oent;,perd annum.
"-, [2' j , Adelaide, May.
The associated banks have agreed to, the
following .f'iehaHgà 'reason London : Selling
impugns befpr^o^nrges for buying as
fellows: 31 percent, ninety, days sight, 3
per cent sixty days sight, 2½ percent, thirty,
days sight 2½ percent, sight.
$