City of Melbourne Bank.
CONVENIENT OVERDRAFTS. (Per Press Association.) Melbourne, July 25. At the City of Melbourne Bank meeting, Mr Loader, replying to the liquidator's report, said the advances to the directors were under 1 per cent, of the total made, and had enabled them to obtain outside business. Mr Stewart pointed out that Mr Loader himself owed £26,000, and, that the value of the security was only i' 21,000. Mr | Collier owed LIO,OOO upon securities only worth L 4400, and Mr Williamson owed L7OOO, and the securities were ralued at L2OOO. Another director had an overdraft of L7OOO. July 26. The majority of the London and Glasgow Committee of the City of Melbourne Bank is in favor of forming an assets company to nurse the properties.
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Bibliographic details
Feilding Star, Volume XVII, Issue 25, 29 July 1895, Page 2
Word Count
127City of Melbourne Bank. Feilding Star, Volume XVII, Issue 25, 29 July 1895, Page 2
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