Freehold Investment Banking Company.
Melbourxk, This Day. The liquidators of tho freehold Investmeut Binking Co have applied to the Court for permis3ion to nccept a compromise in the action brought against th<! iloa Jas. Balfour, na ex-director, t; recover the mnounts of dividends and bonuses alleged to have been wrongfully paid, Mr Balfour, while denying the liability, offered to pay the sum of £5000 in Fettlem^nt of th° claim. A member of the Committee of Advice opposed the application and complained that the directors had advanced to the firm of Balfour, Elliott, aud Co, a firm in which were the priucipal shareholders of the bank. £59,000 on property which the company had purchased for £25,000, enabling them to receive a profit of £59,000 each, and further that no part of the capital or interest had been repaid.
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https://paperspast.natlib.govt.nz/newspapers/NEM18931206.2.11.2.4
Bibliographic details
Nelson Evening Mail, Volume XXVII, Issue 287, 6 December 1893, Page 2
Word Count
137Freehold Investment Banking Company. Nelson Evening Mail, Volume XXVII, Issue 287, 6 December 1893, Page 2
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