WIDENING EFFECTS.
Patent Trust Company Heavily Hit. ; FURTHER REPERCUSSION". (United Service.) (Received 11 a.m.) LONDON, September 22. : A further repercussion of the Hatry collapse has occurred in connection with the Patent Trust and Finance Company, of which Sir Arthur Du Cros, who lent Craigwell House to the King, is chairman. It is announced that the company was interested in large blocks of Hatry shares, held as security for loans or deposited to cover guarantees.
Very substantial amounts were given by the company for financing the Austin Friars Trust, mainly in connection with the steel industries of Great Britain.
The directors, who are among the largest shareholders, regret the position. All shareholders will be seriously affected by the collapse in market values which has occurred. ,
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Bibliographic details
Auckland Star, Volume LX, Issue 225, 23 September 1929, Page 7
Word Count
124WIDENING EFFECTS. Auckland Star, Volume LX, Issue 225, 23 September 1929, Page 7
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