SHADY BANKING
MeIiBOUKNF., November IS In the examination of William McLean, m tbe matter of the Federal Bank m liquidation, the dis-! closures called forth strong comments from the Judge, who stated they might be described by a very ugly word. McLean admitted that while he had an overdraft of £8000 from the Bank, he obtained an advance of £5000, without security, from the manager, and without the matter being brought before tbe Board. He received £25,000 from the Commercial Bank, and paid it into the Federal Bank. The money remained there one day, and her woulcj not say jtjhat it 'was not banked for balancing
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Bibliographic details
Ashburton Guardian, Volume XV, Issue 3437, 15 November 1894, Page 3
Word Count
106SHADY BANKING Ashburton Guardian, Volume XV, Issue 3437, 15 November 1894, Page 3
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