GERMAN BANKS SOLD IN LONDON

Dominion, Volume 10, Issue 3174, 27 August 1917, Page 9

GERMAN BANKS SOLD IN LONDON

THE PASSING 1 01? TEE HUN.

I'lireo German bank buildings, with thoir safes and their fittiuga, wero isold by auction in tie City o{ London recently by order of tlio Public Trustee. Mr. H. M. Stanley, tho auctioneer, said tho sites of tho banks proved the skill with which the Gorman tentacles had grasped vital points in tho heart of tho valuame restricted banking area of tho City. "It is your privilege." said the auctioneer to the City -men, 'Ho determine that at least three Gorman strongholds are permanently and for over in British hands." There was some hesitation before tho first bid for the Deutsche Bank building and freehold in Georgo Yard, which the. auctioneer described as a comfortablo and beautiful building, an example of German industry and forceful ingenuity. This was an offer for iCMO.OOO. Eventually tlie building was sold .for -£200,000 to the English Messrs. Barclay and Co., whoso present head office adjoins the Dcu'tsoho Bank with a fino frontage on Lombard Street. Passing to the leasehold premises of tho Dresdner Bonk in Old Broad Street, with 23 years to run, tho auctioneer secured a bid of ,£12,000 from tho London City and Midland Bank, and then disposed of tho lease and premises of the Di6conto Gesellschaft to Lloyds Corporation for .£38,000. Number 4, Corbet Court, with 18 years' unexpired Jeaso, went for .£5500 to Messrs. Cox and Co.