THE MERCANTILE BANK.
I SPECIAL. | (Received August 19, 11.30 a.m.) London. 18th August. The Receiver and Committee of the Mercantile Bank are profoundly astonished at the report of the Investigation Committee, which was mode public to-day. They consider that the Melbourne Board has been guilty of culpable negligence, and are considering whether proceedings should not be instituted against the members of it. They are also much incensed at Sir Matthew Davies having given a very different report as to the Bank's position while in London recently, and consider that this exposure, taken jointly with the withdrawal of Scotch deposits, will have an effect on other banks. The Receiver is making an immediate call of £1 per share, and the balance will be extended over a period of two years.
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Bibliographic details
Evening Post, Volume XLIV, Issue 43, 19 August 1892, Page 2
Word Count
129THE MERCANTILE BANK. Evening Post, Volume XLIV, Issue 43, 19 August 1892, Page 2
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