BANK LOSSES
LLOYDS POSITION AFTER HATRY COLLAPSE “FANTASTICAL FIGURES” Reed. 9.30 a.m. LONDON, Friday. At a meeting of Lloyds Bank. Mr. J. W. Beaumont Pease, who presided, referred to the fantastical figures which were bandied about concerning the losses the bank had incurred in the Hatry affair. “Let mo put an end to these wild stories,” he said. “\Ve have not a single penny invested in any company in the Hatry group. We made advances to them almost entirely against what we believed were trustee securities or good Stock Exchange securities. We should suffer little loss, but tor the fact that many municipal securities are now challenged as having been fraudulently issued. "The difficult questions on account ot this will have to be settled in the law courts. Until then it is impossible to say the amount of our lost.*'
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Bibliographic details
Sun (Auckland), Volume III, Issue 886, 1 February 1930, Page 11
Word Count
140BANK LOSSES Sun (Auckland), Volume III, Issue 886, 1 February 1930, Page 11
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