Melbourne Bank Disclosures.
(Per Press Association). Melbourne, July 25. Mr Stewart, liquidator, commented strongly on the advances made by the City of Melbourne Bank to James, of the Melbourne Locomotive Works. He also stated Longmuir, deceased, had an overdraft of £20,000. Mr Loader defended the Board's action, saying it was unfair to judge the value of securities by the present depressed state of things. Mr Young explained the scheme of reconstruction and advocated its adoption, but nobody else supported it. Several creditors advocated the liquidation. London, July 22. Mr Stewart reports that the assets of the Bank amount to £4,645,000, including £128,000 available in London. Nine accounts showed an average amount owing of .£1500,000 each. Doubtful accounts he estimated at over
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Bibliographic details
Feilding Star, Volume XVII, Issue 23, 26 July 1895, Page 2
Word Count
121Melbourne Bank Disclosures. Feilding Star, Volume XVII, Issue 23, 26 July 1895, Page 2
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