GLASGOW BANK SHARES.

Wairarapa Daily Times, Volume 2, Issue 618, 13 November 1880, Page 2

GLASGOW BANK SHARES.

The irony of fortune, says the European Mail, has once more been illustrated in tho rise in tho price of the shares of tho failed Oity of Glasgow Bank. Those shares have become scarce because vury few shareholders have survived the bloodletting process of the liquidation. Every .holderwho hasbomi sold up, or has madoa compromise with the officers appointed by law for the winding-up of theß:mk, loses his right as a shareholder. Tho remnant of solvent holders being thus enormously reduced, tho value of the shares which .remain to represent the claim upon the Bank's assets becomes proportionately enhanced. Point is given: to these reflections by the appearance the other day of an advertisement offering for side a aharo in the Bunk, on which all .calks have been paid. The advertisement recites that '■■" The liquidators have already paid 17a per pound on the liabilities. As rogards the remaining 3s por pound, it is, of course, possible, but not considered probable, that a further call will be made; and it is now publicly known that tho liquidators hold assets of great and admitted .. „nfcudo and value, but,requiring time for their realisation. To anyone who can aftord to wait the realisation of these assets, it is reasonably anticipated that a satisfactory result will ultimately ensue, and, having regard to the email number of remaining shareholders, this is an investment well worthy of attention. 1 ' The price asked for the share is £3OOO. " And upon this," the advertisement alleges, 'an unusually large return expected.' With what feelings must a notification of this sort be read by th<r=' hundreds of ruined shareholders in unhappy concern, and by the thousands of noiv impoverished persons dependent upon them ! To think,, to, that the Directors of this so-called bank, just released from prison or still expiatin« their offence there, should have the questionable satis-(-faction of knowing that they have actually raised the market value of eaeh sharo to £3,000, and that perhaps they themselves hold a large number. :