INDIAN BANE FAILURE.
WIDESPREAD CONSTERNATION
10s IN £ EXPECTED.
• Australian' and N.Z. , Cable , Association. (Seed 4.5 >m.) ■ ■ DELHI. April 29. The suspension of the Alliance Bank of • Simla- has caused ■ consternation. Thousands of /Europeans, individuals _ add firms, we affected. The bank's position wits regarded as somewhat shaky .for some time, but Europeans anticipated Government backing to prevent it closing. It is believed that ; within a few days it will be possible to pay. investors 50 per cent, of their deposits, but there has been no official announcement on this point. The Alliance.Bank of Simla was founded in 1874. Its capital • • was stated : at 8,894,100 rupees (approximately £889,410). A dividend of 27 per cent, . was ..paid in 1921. : . . . ■■ •■■■■■•■■ ' •
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Bibliographic details
New Zealand Herald, Volume LX, Issue 18387, 1 May 1923, Page 7
Word Count
116INDIAN BANE FAILURE. New Zealand Herald, Volume LX, Issue 18387, 1 May 1923, Page 7
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