THE COMMERCIAL BANK.
HOSTILITY TO THE RECONSTRUC-
TION SCHEME,
London, April 21
The Commercial Bank has already received 2,200 proxies representing £2,200,000 in favour of the scheme of reconstruction.
Aba meeting in Edinburgh of insured depositors in the Commercial Bank, a resolution was moved to reject the reconstruction scheme unless insurance companies accept liability of deposits. Eventually doposttore decided to take individual action.
Messrs Morton, Smart, and McDonald, Edinburgh agents, have long been hostile to the circular issued by the Commercial Bank respecting reconstruction, and especially condemn the favourable position in which shareholders are placed. They say the Edinburgh meeting is an inadequate expression of Scotch opinion on the subject.
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Bibliographic details
Auckland Star, Volume XXIV, Issue 94, 22 April 1893, Page 5
Word Count
110THE COMMERCIAL BANK. Auckland Star, Volume XXIV, Issue 94, 22 April 1893, Page 5
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