PRIMARY PRODUCERS BANK.

Evening Post, Volume CXV, Issue 12, 16 January 1933, Page 10

PRIMARY PRODUCERS BANK.

A statement of accounts showing the progress of liquidation; of the Primary Producers' . Bank of Australia, Ltd. (in liquidation), shows receipts of £857,241, a sum of £747,737 being distributed, of which £167,421 was paid to satisfy preferential creditors, and £580,316 went toward ' satisfaction of claims of ordinary creditors. Ordinary creditors received" two dividends of Se in the £ on claims for which they were entitled to rank in the liquidation. The number of separate creditors to whom payments were made was approximately 13,800. The intention isl to pay creditors a further, dividend of 2s 6d in the £, thus making a total cash distribution of 12s 6d in the '£ on account of their claims within sixteen months from the date of liquidation. The liquidators, with their knowledge of the remaining assets, are sanguine that their endeavours will reslult in securing payment for their creditors in full, with a possibility of some return of capital to shareholders out of the apparent surplus of £366,132 shown in the accounts.