BUSINESS FAILURE
FIRM 127 YEARS OLD. FRADULENT TRUSTEES. (Received 8.86 a.m.) LONDON, November 14, The financial house of J. Horstman, Limited, has suspended payment. The house was established in the city in 1802 as a banking and acceptance of business concern.
. The failure is due- to frauds on the part of certain correspondents and trustees, on the Continent. It is estimated that the total is between £300,000 and £400,000. The first capital is held privately.
It is stated that a large shareholder on the Continent has committed suicide. A later statement says it is estimated that a sum of between £3,000,000 and £4,000,000 is involved. The public are not included in the loss, which falls only on members of the lirm.
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Northern Advocate, 16 November 1929, Page 9
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121BUSINESS FAILURE Northern Advocate, 16 November 1929, Page 9
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