STINNES PROPERTY

Grey River Argus, 11 August 1925, Page 5

STINNES PROPERTY

HITCH WITH BANKS. (Australian and N.Z. Cable Assn.) BERLIN, August n. While the banking , group conduct ing the liquidation of Stinnes concerns emphatically denies that differences have arisen with the St-inries family, the. “Rheiniscitwestfaeliwhe Zoitung.” the mouthpiece of the family, says that the banks are unwilling to assume additional obligations on the ’ground that fresh liabilities are continually being discovered. the paper adds; Unless the banks alter tlieir methods, the concern will declare bankruptcy' or request the Court to supervise liquidation. It asserts that Schacht, president of the Ite'eh-t--bank, approves (he action of 'he banks, and thereby, surrenders German economic life to ruin.

The paper also declares that if the concern ends in bankruptcy, the banks themselves' will' require .tsqrstanco.