£400,000 ON GUARANTEE.
CLAIM BY CHICAGO BANK.
THEFTS BY EMPLOYEE.
LARGEST DEMAND ON LLOYD'S
By Telegraph—Pross Association—Copyright (Received September 2. 9.35 p.m.) LONDON, Sept. 2.
Lloyd's underwriters havo received a claim for £400,000 under a guarantee policy issued to a Chicago bank. This is a record sum, although it is understood that the loss suffered by the Chicago bank is actually £700,000. It was caused by the defalcations of an employee for the last 10 years. If Lloyd's assessors in America admit the claim £400,000 will be cabled to Chicago.
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Bibliographic details
New Zealand Herald, Volume LXVIII, Issue 20968, 3 September 1931, Page 9
Word Count
90£400,000 ON GUARANTEE. New Zealand Herald, Volume LXVIII, Issue 20968, 3 September 1931, Page 9
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