INDUSTRIAL FINANCE
NEW LOAN CORPORATION FORMED (Rec. 11.5 a.m.) LONDON, March 5. Mr L. G. E. Bruce has been appointed chairman of the important Finance Corporation for Industry Ltd., which has been organised to finance reconstruction of various industries needing loans and capital beyond the ability of the trading banks and other mortgagors to undertake. Shareholders in the corporation are the Bank of England, large insurance companies, and important investment groups. It is not a Government organisation, but it has a close working connection .with the Treasury through the Bank of England. The share capital of the corporation is fixed at £25,0005000, and the corporation has been given the power to borrow up to £100,000,000.
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Bibliographic details
Evening Star, Issue 26043, 6 March 1947, Page 8
Word Count
115INDUSTRIAL FINANCE Evening Star, Issue 26043, 6 March 1947, Page 8
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