The Commercial Bank Failure
FUETHEB DEVELOPMENTS. [BBUTEBS TBXEOBAMS.I Adelaide, March 17. Wilion, tho accountant of the Commercial Basic, wai declared insolvent yesterday. Under instructions from the director! the Bank's solicitors hare insti. gated proceedings against him for mis* appropriating the funds. A meeting of the creditors of James Cowan, one of the persons to whom Crooks advanced money, was held te»day. Cowan's assets comiat chiefly ot interests in land syndicates and mining ventures. The Commercial Bank is a secured creditor. March 24. It is announced that legal action will be taken against some of the directors of the Commercial Bank ot Bouth Australia for presenting the shareholders with a misleading balance-sheet for 1886, which failed to disclose the loss of £80.000, incurred on pastoral properties held by the Bank. Mr Crooks, the manager of the Bank has been admitted to bail.
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Bibliographic details
Feilding Star, Volume VII, Issue 122, 25 March 1886, Page 2
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141The Commercial Bank Failure Feilding Star, Volume VII, Issue 122, 25 March 1886, Page 2
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