Evening star. [volume] (Washington, D.C.) 1854-1972, 1892-04-09

L and Taylor. The hear
ing Of the Larkin frauds will not be Leart
all about the end OF this month and will ther
iast about week. This will postpone tn,
hearing Of the Taylor complications till mex
month. Matthias Larkin Qate secretary anG
fatrick Cieary stand charged with conspirao,
70 defraud the South Melbourne Permanent
building and Investment Society Of e. 41Ol5:
oy divers means and artful devices and de
irauding the society of certain titles Of land
&c. Although the presentment against Largir
and Cleary are limited to the above named sum
denciency OF f42, 600 has been confessed BY
the accused and the mysterious disar peara &c,
OF unacconnted money belonging to the sociss,
seaches the enormous popular estimate o
from $50 600 to E120. 600. Larkin was looked
upon as one of the most straig h forward n,er
In all business and monetary transactions
moved In the beet society; kept splendid es
adjustment; was very generous anu some time
| ago put up for parliament.
| George Nicholson Taylor date manager OF
| the Land Credit Bank will be charged with
| the comprehei sive term fraud as banker
and particularized as wiping out his wife's
debit account by his own check upon the Land
Credit Bank by way of overdr.tft and emitting
| certain material particulars in the books of the
bank. He is also charged with taking two
| prom1ssory notes. one given Jessie T. Tayior
| lot the sum OK I5.3lS.S.S and the other by G..
n Taylor for El.290.26. these are the only
sums named in the presentment. but strict OK
animation of the banks books have reached n
deficiency of over 100000. The case is sure
| 10 excite great deal OF public interest in legal
| as well as financial circles, owing to techpicgIi-
ties involved in the presentment. Another
| gentleman very much wanted il p. w. Wort
| ley, STOCK broker connected with the frauds
perpetrated upon many Melbourne tinauciers
| through the mediums of forged transfers of the
| Sliverton Tram Company. Powell was not a
member OF the Melbourne stock exchange
although good many people with whom he
had transactions were uuder tue impression to
that elect. He was simply stock jobber. 1t
being the custom OF the exchange to allow a
man to operate as jobber in the hall on pay
ment OF fee OF f25 per annum. Powell having
an eye 10 business. was not backward in avail
| ing himself of the privilege As yet he is still
at large. and up to The present the number of
people he has victlmized has not been made
public, but 1t Is well known his Operations have
been something considerable, and this BY 10
means ends the list OF swindlers in this colony
PARTIAL CAUSE OF THE CRISIS.
Sidney, in the neighboriug colony of New
South Wales. has had its share of sharp practi-
| TONERS. Bell Davis cleared out in a schooner
which they purchased with the sum Of $50, o00
In sovereisns belonging to one of the financial
institutions OF that city. But thcir operations
were nothing to be compared to I.ralns' cam-
plications. He had ariled Oh his nianipula-
tions OF the books ior over three wears and
would never have been found out but for his
seif-coniessed deficiency o. some El0 600. This
brought about an examination OF the books Sc
curities, &c, belonging to the society and
which revealed the true state OF affairs The
Larkins and Taylor com licat.oi!s were Partially
the means OF bringing abou: the iiIHncI.l crisis
OF last year, tins marked eff cts of which are
every where visible throughout ;Le colony. lhc
shareholders and deposItors of other tuli,liuy
and financial Institutions hturing OF ihe,y
frauds were naturally anxio,is about the condi-
ton OF thelr own respective societies Meetings
were held, books oyerhauled and in most cases
revealed anything but a satisfactory state OF
affairs. Institutions winch carried Oh tn. busi-
ness OF deposit bank, a5 well as th;t of u build
Ing society, were then besies,d by deposi,ors
eager to Withdraw their money aud some of
them were in no condition TO stand q run
They mad bought land during tic ...and boom"
some three or five years ago when land WAS
fetching biz prlces) witl, the money deposited
by the pubic. But since then the land boom"
collapsed and the value OF land has fallen in
some Gases, to less than on. quar- ter i;s o-iei-
nal value. SO when the crisis came few were
fortunate enough to meet their calls aud 9th KS
were compelled to suspend payment. Two or
three Others, in q sound fnunc ai condition but
unable to realize III tirle were, through the
obstructive stand taken by some two or three
deDos.ors twho wouit not sign RI agreement
TO refrain from drawing ont taei- money for
three years. forced iHso lquidtIon.
Victoria is nos the only colony whose trade
- almost at a standstiIl. The trade o! ether
colonies is in an equally del lorable condi.ion.
and distressing accounts OF the dizziness OF
TRADE appear daily in every paper. So bad Is
II that only a few days ago u number of cab
men migrated TO Geclong. They intended 70
Try their luck there (uvs that it is any better in
that town. as they can only earn Is shiilingg a
week 375l in the metropolis. o; course as
trade Is slack the labor market is in Il very de-
pressed state. ana the unemployed in Mel
bourne alone number several tnon.enls
DEMANDS OF UNEMPLOYED LABoargs.
These unfortunate people hold meetings
daily, and Populations wait on the ministry to
impress On that body the advisabiI,ty of start
ing works TO relieve tho distress now existing
In all branches OF trade. The government has
comphed with their request 10 lar AS Drac,ica-
Die, and has sanctioned, although very Little
money Is available In the treasury, the con.
struetion OF one OF two railway hues reclams-
ton of certain swsnips aud otner pnblic works
or course ihs action Of the Late premier in
carrying his policy OF rctrenchment TO too
great degree Is severely criticised at there
gatherings. but for whose inertness business
would have still been In dourishing condi-
ZION. anu not a few OF their mouthpieces try
hard to utilize the genuine distress Tor poiiti.
cal purposes. But these ARE listened to by very
few, and any one advocating advanced ideas N
greeted with the cry, I'VE don't want social
ism, We want work." The main difficulty is 70
PIcAse every one.
A great deal Of indignation has been caused
here by the severe criticisms OF the English
hnancla! press on the tendency Of the Austria
han colonies to over borrow. The present atti-
tads Of the British capitalists (wno are strongly
opposed to any more borrowing, at ieas. for the
present,) has been brought about not only by
over borrowing, but also by the imprudent way
in which the l-oney borrowed has been spent
victorias credit has suffered through the blum
ders committed during the Gilles adrninistra-
tion, during the latter days OF which several
millions oil borrowed capital absolutely went to
waste through the construction of railways,
which, since their constru ton, have proved
unremunerative and caused an average loss to
tue railway department OF q, QUO week.
Great oppositlon Is shown to the action Of
Mr.. Munro Gate premicr) in appointing himself
~ the agent generaishIp Of the colony in Lon
don at the expiration Of Sir Graham Perry's
term OF ONCE III that capacity. Mr.. Munro has
given anything but satisfaction fwhile holding
the premiership by his administration of the
affairs OF the colony and the public seem to
think that 'as he WAS no. success here" he Is
hardly the man to represent the COLONY In the
capacity Of agent general.
Victoria IL, for its size, the most railwayed
colony OF Australia. 1t 10 also the most ad.
vanced in irrigatioral enterprises. And Of the
undertakings IN Australia Mildura stands first
and chief, and yet when the Victoria railway
eommittee wanted to Witt Mildura they found
that the best way to reach that young colony.
was to 60 to Adelaide by rail, thence north
WARD by some means Of transit to Morgan and
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