BIRKBECK BANK.
CAUSE OF FAILURE. STATEMENT BY ME LLOYD GEORGE. I United Frees Association—By Electrio Telegraph—Copyright. LONDON, Juno 15. Mr Lloyd George, in the Houso of Commons, said that the Board of Trade had informed him that the Birkbeck Bank failure was duo to depreciation of values of the securities held. Tho newspaper statements that the failure was in any way attributablo to tho Liberal Government's finance policy was both mendacious and mean. Mr Lloyd George quoted tho Birkbeck Bank accountant's statements, showing that the jji-catest investments wero made at the time of the Boer War, when tho reserve was ample to cover every bit of scrip. Depreciation was due in part to the extension of trustee investments to the colonies. The speaker concluded by stating that tho Birkbeck holdings ahowod a greater depreciation from tho evo of the Boer War to the end of the Unionist Government than since 1909. The allegation that tho failure was duo to something occurring I since 1909 was an unqualified falsehood.
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Bibliographic details
Press, Volume LXVII, Issue 14072, 17 June 1911, Page 9
Word Count
168BIRKBECK BANK. Press, Volume LXVII, Issue 14072, 17 June 1911, Page 9
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