Impugning a Bank's Solvency.

Feilding Star, Volume XVI, Issue 274, 23 May 1895, Page 2

Impugning a Bank's Solvency.

Hobabt, April 80. In the Supreme Court to-day the Com* niercial Bank applied for an injunction to restrain Billyard Leake from making slanderous statements against the Bank, Affidavits were filed showing that Leake, in a hotel at Launceston, had said : " The Bank will not open its door again. It owes my wife £54,000 ; it can't pay. It has only some £60,000 in bullion. It is no secret. 1 shall let everybody know it." An affidavit by the Managing Pirector of the Bank set forth that the statement was utterly false and without foundation. &t the time the statements were made, and at the present time the financial condition of the plaintiff bank was and is perfectly sound, The bank had never been in a better position to meet its engage* ments. At the time aforesaid the plaintiff bank held a sum of £389,000 in specie, £64,000 in Government securities, and £103,000 in the hands of other banks, and these amounts were still held by the plaintiff bank. The proportion of plaintiffs liquid assets as compared with its liabilities had never been so great as at the present time. With the exception of £23,370 10s, and a further Bum of about £1288 interest in dispute, the plaintiff bank did not hold any moneys whatever belonging to the defendant's wife, or to the estate of Arthur Leake. The application was granted. — Post.