"An Ugly Word."
(Received Nov. 15,11.0 a.m.) MnMiouitXß, November 15.
'l'lic examination of \7m. McLean, in the matter of the Federal Bank, in liquidation, is proceeding. The disclosures called forth strong comment from the Judge, who stated that they might be described by an ugly word. Mr McLean admitted that he had an overdraft of fBOOO from the bank, lie obtained an advance of £SOOO, without security, from thu Manager and w.ithoutthematterbeingbroiight before the Board. He received £25,000 from' the Commercial Bank and paid it into the Federal Bank,, The money remained there ono day and ho would not say that it was not hanked for balancing purposes.
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https://paperspast.natlib.govt.nz/newspapers/WDT18941115.2.20.1
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Wairarapa Daily Times, Volume XV, Issue 4877, 15 November 1894, Page 3
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108"An Ugly Word." Wairarapa Daily Times, Volume XV, Issue 4877, 15 November 1894, Page 3
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