Banking Extraordinary.
(Per Press Association.} Melbourne, August 10. In opening the Crown case of City of Melbourne Bank charges the prosecuting counsei stated that three firms— namely, D. Munro and Co., Limited, Fink, and Fergnsson and Mitchell — were indebted in the enormous amount of L 949,000, while the Bank's own capital was only L 500.000. In Fink's case the London office wired to Melbourne — •• Are you involved in failure of Fink, and to what extent ?" The reply was, 11 Overdraft and documents L 57.00 0; are fully covered." At that time Fink's indebtedness was L 197.000, instead of L 57.000. The Liquidator was not able to recover one penny due by these firms, and would be glad, no doubt, to sell the debts for Id in the M.
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Bibliographic details
Feilding Star, Volume XVIII, Issue 36, 11 August 1896, Page 2
Word Count
128Banking Extraordinary. Feilding Star, Volume XVIII, Issue 36, 11 August 1896, Page 2
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