A Bankrupt Company.
Melbotjbne, September -8. At a meeting of shareholders in the Australian Mercantile Loan and Guar- , ■■ antee Company, the Chairman estimated . the assets at £35,000 to £40,000, and . liabilities £138,000. The auditor's report' showed that- it would be impossible to I carry on business any longer. He briefly , alluded to the law relating to companies, stating that in no other colony in the . group could such a one as the one under \ notice have been floated. From the first, " '• he said, it was rotten and corrupt. At . this stage there were violent cries of, •' Let's get hold oi the swindlers and hang them. " A number of female depositors | were present, and many of them cried bitterly at losing their money. Some ' '" were servant girls who had deposited all their savings in the institution, and others were widows. The scene was most heartrending. It was decided to wind up the compauj, Post Correspondent.
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Bibliographic details
Feilding Star, Volume XIII, Issue 34, 17 September 1891, Page 2
Word Count
154A Bankrupt Company. Feilding Star, Volume XIII, Issue 34, 17 September 1891, Page 2
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