BIRKBECK FAILURE.
LIBERAL POLICY AND FINANCE
WHEN SECURITIES PELL.
By Telegraph—l'ress Assoclatlon-Copjr'.BrM London, June 15.
Mr. Lloyd-George, Chancellor of tho Exxhoquor, speaking in tho House of Com. mous, said llio Board of Trailo had informed liim that tho Birkbcck Dank failure liad l>cen duo to depreciation in tho values of securities. Ho held that newspaper statements had failed in any way to provo that tho failure was attributable to tho Government's finance.
Mr. Lloyd-Gcorgc added that tho newspaper statements wero mendacious and mean.
Mr. Lloyd-Georgo proceeded to quote statements by tho Birkbcck Bank's accountants to show that the greatest fall in tho volumo of investments occurred at tho time of tho Boer War, when tho reserve was ample to cover every scrip depreciation, and allow for greater extension of trustee investments in tho col. onies. Mr. Lloyd-Georgo concluded:. "The Birkbcck Bank holdings show greater depreciation from tho evo of tho Boer war to the end of the term of offico of the Unionist Government than since IDOD. Tho allegation that tho failuro was duo to something occurring in 1909 is an unqualified falsehood."
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/DOM19110617.2.47
Bibliographic details
Dominion, Volume 4, Issue 1166, 17 June 1911, Page 5
Word Count
183BIRKBECK FAILURE. Dominion, Volume 4, Issue 1166, 17 June 1911, Page 5
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