RASH FINANCING
BIG BANK TOTTERS A GERMAN SENSATION. RESPONSIBILITY FOE £8,000,000. (Australian Press Association.) (Received 9 a.m.} BERLIN, August 21. Financial circles experienced a sensation when they learned that the General Insurance Company, the second largest company in Germany, is on the verge of a catastrophe. It is purely an insurance, concern. The reserves are intact, but recently it engaged in outside business, including the financing of instalment sales of motor cars to support small banks, with the result that, the company is now responsible for guarantees amounting to £8,000,000, including £2,000,000 to British ami Swiss financiers.
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Northern Advocate, 22 August 1929, Page 5
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97RASH FINANCING Northern Advocate, 22 August 1929, Page 5
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