Story: Business failures and corporate fraud

Thames in the gold-mining era

Thames in the gold-mining era

In the late 1860s Thames was booming, a result of gold mining on the Coromandel Peninsula. The gold rush reached a peak in the early 1870s, and the profits helped establish a wealthy business community in Auckland. But in 1878, after the failure of the City of Glasgow Bank, and later, in the crash of 1886, many of those who had risen on the back of Thames gold fell equally fast.

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Auckland War Memorial Museum Tamaki Paenga Hira
Reference: C7316
Photograph by Daniel Louis Mundy

Permission of the Auckland War Memorial Museum Tamaki Paenga Hira must be obtained before any re-use of this image.

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How to cite this page:

Graeme Hunt, 'Business failures and corporate fraud - 19th-century business failures', Te Ara - the Encyclopedia of New Zealand, http://www.TeAra.govt.nz/en/photograph/22335/thames-in-the-gold-mining-era (accessed 12 August 2022)

Story by Graeme Hunt, published 11 Mar 2010