SENSATIONAL BANKRUPTCY
OLD STOCKBROKER FIRM.
LIABILITIES OF £2,000,000.
SEQUEL TO INSURANCE CASE.
By Telegraph—Preßß Association—Copyright (Received 6.15 p.m.) A. and N.. LONDON, Feb. 16. A sensational sequel to the liquidation of the City Equitable Fire Insurance Company is the failure of the Stock Exchange firm of Ellis and Company, of which the senior partner was Mr. G. L. Bevan, chairman of the City Equitable Company. The failure is not likely to disturb the stock markets to any great extent, though tho liabilities are estimated to be about £2,000,000, as tho Stock Exchange anticipated it, and sales connected therewith have been proceeding since the end of January. Ellis and Company is one of the oldest and most prominent stockbroking firms, having been established nearly 150 years. The firm raised a loan of £24,000,000 to finance the campaign against Napoleon in 1814.
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Bibliographic details
New Zealand Herald, Volume LIX, Issue 18019, 18 February 1922, Page 9
Word Count
140SENSATIONAL BANKRUPTCY New Zealand Herald, Volume LIX, Issue 18019, 18 February 1922, Page 9
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