BANK AMALGAMATION
I> - A &?JP/ CORPORATION TO AB SORB ALLAHABAD BANK.
t, , , Simla, December 9. Reuters correspondent at Simla, in a message datod December 9, reports that there are important banking amalgamations foreshadowed by the offer of the Peninsular -and Oriental Banking Corporation to purchase the ordipary shares of the Allahabad Bank, conditional upon the acceptance of the offer by the holders of not less than 75 per cent, of the shares. The shareholders are also given tho option of receiving shares in the Peninsular and Oriental Banking Corporation.—Aus.N.Z. Cable Assn.
[The Allahabad Bank was established in 1865, Its head office is at" Allahabad, and it has twelve other branches in Calcutta and Bombay. Its shares are 15,000 ordinary of 100 rupees each, fully paid, and 15,000 G per cent, preference of 100 rupees, fully paid. It normally returns 12 per cent, and 6 per cent, bonus on ordinary shares, freo of income tax.]
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Dominion, Volume 14, Issue 67, 13 December 1920, Page 5
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154BANK AMALGAMATION Dominion, Volume 14, Issue 67, 13 December 1920, Page 5
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