VOLUNTARY LIQUIDATION.

Auckland Star, Volume LIV, Issue 218, 12 September 1923, Page 5

VOLUNTARY LIQUIDATION.

GREAT COMMERCIAL CORPOKATIO N. A LONDON SENSATION. (Received 11 a.m.j LiOXDOX, September 11. The latest city sensation is the convocation of a meeting of shareholders in The Commercial Corporation of London, with an issued capital of f'2,250.000, to consider voluntary liquidation owing to the fact that one of the shareholders is petitioning for compulsory winding up. The assets consist principally of holdings in industrial companies, which have •been seriously affected by the trade slump. Their depreciation in value is reflected by the fact that the Corporations' one pound shares are quoted at onl3' a few pence, though the directors consider that if the assets arc nursed, by forming a holding company, they will eventually appreciate. --(Renter.)

A YOUNG FINANCIER.

ROMANCE OF BUSINESS. HATBY'S HUGE CONCERNS. lUoceired 1 p.m.) I-OXDOX, September 11. The "Daily Chronicle" states that behind the Commercial Corporation is the romanic figure of a director named Clarence Hatry, a young finncier, who has had a rapid rise. Tlis huge deals have long dazzled the city. Hatry is only 34 year's of age, ami commenced business at the ape of 23 as an insurance broker. Later he became a financier on a large scale, one of his first efforts being to reorganise the City Equitable Fire Insurance Company. His greatest venture was the acquisition of the Commercial Bank of London, whose business suffered from the effects of the war. Mr. Hatrv and his friends acquired the bulk of the shares. Since then lie has negotiated numerous deals involving millions. In 1020 Mr. Hatrv purchased the world's biggest jute factory owned by Messrs. Cox Bros, of Dundee, following this by the purchase of five other jute businesses involving a total of £8,50*1.000. For a while everything Hatry touched prospered: then a trade depression followed.—(A. and y.Z. Cable.)