WINDING UP.
LA.W GUAEAKTEE AND TRUST SOCIETY. By Telegraph.— Press Association. -Copyright. (Received December 15, 8.5 a.m.) LONDON, 14th December. At the meeting of the Law Guarantee, Trust, and Accident Society, Limited, it was decided to go into voluntary liquidation. The society was formed over twenty years ago, to deal with fidelity, mortgage, debenture, contingency, license, and trustee business, etc. The report on the past year's business, lately issued, disclosed sensational losses on transactions with breweries and hotels, particularly in connection with the unsound system followed in guaranteeing mortgages and debentures. It was estimated that properties originally valued at £4,912,516 were now worth not more than £1,705,173. The accounts showed that the whole of the capital (£2,250,000 fully subscribed) had been lost, and there was a further deficiency of £200,000. The majority of the shareholders are barristers and solicitors and their clerks.
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Bibliographic details
Evening Post, Volume LXXVIII, Issue 144, 15 December 1909, Page 7
Word Count
142WINDING UP. Evening Post, Volume LXXVIII, Issue 144, 15 December 1909, Page 7
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