THE CITY, OF G'LASGO W! BANK.

Waikato Times, Volume XVIII, Issue 1526, 15 April 1882, Page 4

THE CITY, OF G'LASGO W! BANK.

The liquidators of this concern have issued- their third annual report, dealing with' the 12 months ended on the 22nd October last. The liabilities of the Bank were reduced to the extent of £485,057 during the year, and amounted to £1,338,116 at the close of that peiiod. The assets are estimated to exceed this amount by £170,582, which is £116,095 less than the estimates arrived at a year previous. It is stated that the decline arises chiefly from the revenue derived from debts and properties being less than was anticipated, while legal expensej swallowed up £24,474, aiid £30,000 had to be provided to meet expenses incurred but not paid up to the date of the balance. The value of the New Zealand and Australian Land Company's stock is set down at £802,112, which ia in excess of the sum likely to be realised if it were sold at the present time. The liquidators put down £243,000 as the total amount which they expect to recover from the estates of large debtors. The notorious James Nicol Fleming was arrested in Manchester on January 23rd, and conveyed to Glasgow. He is chaiged " with having on various occasions during the years 1873, 1874, and 1875, within the head office of the City of Glasgow Bank, Virginia street, falsified the books of the said Bank by making or causing to bo made false and fictitious entries therein, in order to conceal and misrepiesent the true statje of the affairs of said Bank from the shareholders, creditors, and others." It will be remembered that Fleming absconded when the Bank directors were arrested, and a warrant which was then issued for his own arrest could not be served in consequence. Some time ago he came to London, and there went through an examination in bankruptcy, which led to many appeals being made to the law officers of the down not to allow him to get off without punishment. He is now 52 years of ago, and it is stated that he is in very delicate health, and but the shadow of his former self. He will probably be tried in Edinburgh, if he is not previously called away to appear befoie a higher tribunal. Meanwhile he has been admitted to bail. The annual meeting of, the subscribers to the City of Glasgow Bank Shareholder s' Relief Fund was held in Glasgow a short time ago. It was stated 948 shareholders, representing £136,685 of stock, had applied for relief during the year. The Committee said that though they had been able to deal tolerably well with nearly all the cases brought before them, yet the .sum at their disposal, large as it was, was felt to be inadequate to the necebsities of the case. They added that the number of shaieholileis dependent upon the fund for their living at the present time is 25!), representing an annual cost ot £1 3,153. No shareholder receives a larger annual allowance than£lso. — Correspondent I)u\Ui 'Times.