Bank of South Australia.
I Lwely Meeting. (Received January C, 6 p.m.) Loxdox, Jan. 5. Sir Stewart-, the Oflicial Receiver, declares that the claim of the Union Bank against the Bank of South Australia is £550,000. Without reckoning about £200,000 of assets ivhich have not yet been valued, the Union Bank estimates that the assets will yield only £50,000, whereas tlie liquidators consider that if they are nursed thoy will realise 10s in the pound. It is pointed out that since 1893 upwards of £II,OOO have been written off.
At tlicinccting of the shareholders, several of those present denounced the Board of Directors, charging them with offences equal in fraud to those committed by Jabe/, Balfour. A section of the shareholders accused the directors of sqandering the resources of the Bank with their eyes open, and declared that thoy would not rest until the directors were made liable for the losses.
Permanent link to this item
Hononga pūmau ki tēnei tūemi
https://paperspast.natlib.govt.nz/newspapers/WDT18950107.2.7
Bibliographic details
Ngā taipitopito pukapuka
Wairarapa Daily Times, Volume XV, Issue 4919, 7 January 1895, Page 2
Word count
Tapeke kupu
151Bank of South Australia. Wairarapa Daily Times, Volume XV, Issue 4919, 7 January 1895, Page 2
Using this item
Te whakamahi i tēnei tūemi
No known copyright (New Zealand)
To the best of the National Library of New Zealand’s knowledge, under New Zealand law, there is no copyright in this item in New Zealand.
You can copy this item, share it, and post it on a blog or website. It can be modified, remixed and built upon. It can be used commercially. If reproducing this item, it is helpful to include the source.
For further information please refer to the Copyright guide.
Log in