BIG FIRM'S FAILURE.
SERIOUS' CHAEGES:. -■' - HEAVY ADVANCES AND INFLATED ■ DIVIDENDS. ; 8Y XELEGHAPIT—PHES3 ASSOCIATION—COPYRIGHT. . , ' " .London, March 25. ' Barclay and' Company, Limited,' bankers,' who are creditors to the extent of a quarter; of a million,' are petitioning fo/ tho compulsory winding'up of Sir James Laing and Sons, shipbuilders, of Sunderland. Barclay's allege that a balance-sheet published by " Laings in' 1006, showing a largo profit, induced them to advance £100,000, and that. Laings., immediately paid a dividend, of 50 per cent N Barclay's in July, last advanced. anothor £100,000, and: £5000 (? £50,000) moro last February, Laing's suspending three days later. .■ /
Laing's allege had v-unexpected losses/ ' ; exceodiiig';£2oo,ooo,' I which' tho ibank knew of. The .case is proceeding..
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/DOM19080327.2.47
Bibliographic details
Dominion, Volume 1, Issue 157, 27 March 1908, Page 7
Word Count
113BIG FIRM'S FAILURE. Dominion, Volume 1, Issue 157, 27 March 1908, Page 7
Using This Item
Stuff Ltd is the copyright owner for the Dominion. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons BY-NC-SA 3.0 New Zealand licence. This newspaper is not available for commercial use without the consent of Stuff Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Log in