City of Melbourne Bank.
[Per Press Association.! Melbourne, This Day. At the half-yearly meeting of the City of Melbourne Bank the report showed a loss of L 19.700 during the half-year. Deduoting from this the balance to the credit of profit and loss account on the previous half-year there is still a deficit of L 13,300. The chairman said in oonsidering the figures shareholders should bear in mind the assets and liabilities both in the Old and New Bank were represented, and that there were no longer two banks, the liquidation of the old one having been completed. The decline in wool, wheat, and other products, with the utter collapse of real estate, made it apparent that the Directors had undertaken more than they had calculated upon, hence the mission of the chairman to London, which the Directors are sanguine will be successful.
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Bibliographic details
Feilding Star, Volume XVI, Issue 249, 24 April 1895, Page 2
Word Count
143City of Melbourne Bank. Feilding Star, Volume XVI, Issue 249, 24 April 1895, Page 2
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