 It linked the head office in Elizabeth Street with their Spencer Street store — about 1.2 km away.In 1894 William resigned his public offices after admitting to deceptive banking practices and filed his insolvency schedule for £200,000, most of which was owed to the Federal and Real Estate Banks.He was permitted to retain his general managership in McLean Bros & Rigg and was finally released from sequestration in 1898.