CORRUPT FINANCIERS.
CANADIAN BANK SCANDAL
THREE OFFENDERS - SENTENCED.
Australian and N.Z. Cable Association. (Becd. 5.5 p.m.) OTTAWA. Nov. 7.
Three more Toronto financiers, who are reputed to be millionaires, have been sentenced by judges in conection with the Home Bank failure. Investigations showed that the bank spent 2,000,000 dollars among favoured directors. It also financed the Mount Royal Brick Company, whose total gold output amounted to only 333 bricks. The Home Bank had 70 branches throughout Canada. The liquidator expects to pay depositors 40 cents in the dollar.
The directors place tho chief blame on the general manager, Mason, and the president, Daly, both of whom recently died mental wrecks.
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Bibliographic details
New Zealand Herald, Volume LXI, Issue 18862, 10 November 1924, Page 7
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110CORRUPT FINANCIERS. New Zealand Herald, Volume LXI, Issue 18862, 10 November 1924, Page 7
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