FINANCIAL INSTITUTIONS.
Pros* Association—By Tolejrraph—Copyri/iht. London, July 24. A meeting at Edinburgh of dc/oentureholdcra in the Australian Deposit and Mortgage Company favourably received the proposed KCheme of re-arrangement. A committee was appointed to coasider details, and the moating adjonraefi for a fortnight:.
July 25. Mi- Stewart, the liquidator, commented strongly on the advsuaees made by the City of Molbonrae Bank to James Melbourne (? Munro) Locomotive Works. He also stated fchafi Mr L^muir, deceased, had an overdraft; of L 20.000. Mr Loder defended the board's action, saying it was unfair to judge the value of securities by tho present depressed state of things. Sir Young explained tha scheme of reconstruction, and advocated its adoption ; bat nobody else supported it. Several creditors advocated liquidation.
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Bibliographic details
Otago Daily Times, Issue 10422, 26 July 1895, Page 2
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122FINANCIAL INSTITUTIONS. Otago Daily Times, Issue 10422, 26 July 1895, Page 2
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