BANK ALLIANCE
PURCHASE IN BRITAIN SALK <>!•' LI.YX, MILLS LONDON, Aug. 1. It was announced in the City yesterday that arrangements arc virtually complete for the Royal Bank of Scotland to purchase the capital of Glyn, Mills and Company, the old-establish-ed private banking firm with headquarters in Lombard street.
A substantial amount of the stock of the Royal Bank of Scotland, which at present has an issued capital of £3,780.192 and a balance-sheet total of £85,935,830, is to be issued in part satisfaction of the purchase price, and there is to be an interchange of directors between the two banks.
The business of Glyn, Mills and Company will lie carried on separately and unchanged.
Total assets of Glyn, Mills and Company amount to over £40,000,000, and the capital stands at £1,060,000. The principal shareholders are the trustees of Charles William, 3rd Baron Hillingdon, with £304,560; Lord Wolverlon, £260,000; B. F. G. Currie, £195.000: F. M. G. Glyn, £102,000, Ivl. D. V. Holt, £60,000; and the Earl of Jersey, £ 50,000.
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Bibliographic details
Gisborne Herald, Volume LXVI, Issue 20042, 14 September 1939, Page 3
Word Count
168BANK ALLIANCE Gisborne Herald, Volume LXVI, Issue 20042, 14 September 1939, Page 3
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