STOCK EXCHANGE CRISIS.
LONDON AND GLOBE FINANCE ASSOCIATION. A SCHEME OF VOLUNTARY LIQUIDATION, NOT ACCEPTABLE TO THE CREDITORS. United Press Association—By Electric Telegraph—Copyright. LONDON, Jan. 15. At a meeting of the shareholders of the London and Globe Finance Association, it was agreed to go into voluntary liquidation. Mr Wright, the chairman of the Association, stated that a plan of reconstruction was being prepared, and that all the creditors except one had agreed to accept £485,000 in payment for all obligations. The directors were arranging to raise half a million by the sale of the company's interest in the Baker Street railway. The Marquis of Dufferln has resigned the chairmanship of the the Association. LONDON, Jan. 15. A hitch has occurred in the London Globe Finance Association's arrangement with the creditors, some refusing to accept the composition, which, it has transpired, is only ten shillings in the pound.
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Bibliographic details
Lyttelton Times, Volume CV, Issue 12403, 17 January 1901, Page 5
Word Count
147STOCK EXCHANGE CRISIS. Lyttelton Times, Volume CV, Issue 12403, 17 January 1901, Page 5
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