COMMERCIAL.
The Launceston Failures. —The Hoharton Mercury writes:—“The financing abilities that enabled the firm of Peters, Barnard, & Co., to expend hundreds of thousands with nominal assets, appear being carried into the proposed settlement with their creditors. Considering the smallness of the assets, great ingenuity seems to have been exercised in calculating the dividends, so as to spread out the payments and make the successive ones of equal amount. We read from a circular that a meeting of creditors has been called, ‘for the purpose of considering the propriety of sanctioning the acceptance by the trustees of a composition offered by the bankrupts of the sum of 2s. In the £, and payable by instalments of 6d. cash, 6d. at three months, 4d. at six months, 4d. at nine months, and 4d. at twelve months, guaranteed acceptances.'" BY TELEGRAPH. _ AUCKLAND, Monday. Mr. Alexander Saunders reports Sales: Bismarck, 4s Cd Buyers: Fiji Bank, 605.; Thames, 20s. Sellers : Bank of New Zealand, SOOs.; South British, ots. : Bright Smile, 555. ; Caledonian, 1055.; City of York. Bs.: Tokatea, 10s.
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Bibliographic details
New Zealand Times, Volume XXIX, Issue 4268, 24 November 1874, Page 2
Word Count
173COMMERCIAL. New Zealand Times, Volume XXIX, Issue 4268, 24 November 1874, Page 2
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