THE COMMERCIAL BANK.
THE LIQUIDATION PROPOSAL CONDEMNED. London, July 24. The newspapers condemn the petition lodged by Sir James Webster, of the depositors' committee, to liquidate the London branch of the Commercial Bank 'of Australia. The Financial Times regards it as mischievous. July 25. The Economist says the action of Sir James Webster in moving for the liquidation of the London branch of the Commercial Bank of Australia is from every point of view extremely reprehensible. The bank had not made default, and no question of that kind can arise until deposits are repayable some years hence. The Economist goes on to say it is difficult to understand how any body with the interests of the bank at heart could enter upon such proceedings. The Times also condems Webster's action. The Statist says better feeling is growing at Home regarding Australian banks and the colonies generally, and it is difficult to imagine how Webster's action can be to the creditors' interest. His view is only that of an insignificant magistrate.
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Hastings Standard, Issue 78, 27 July 1896, Page 3
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170THE COMMERCIAL BANK. Hastings Standard, Issue 78, 27 July 1896, Page 3
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