GERMAN FINANCE
THE ". PRINCES' TRUST."
Prees Association—By Telegraph—Copyrigki
BERLIN, April 4. (Received April 5, at 5.5 p.m.)
The Chronicle's Berlin correspondent states that the great emporium of W. Wertheim, Ltd., has failed, with liabilities amounting to £900,000 sterling, and assets valued at £125,000. The company recently liquidated its heavy indebtedness to the Princes' Fund, and owing to quarrels between two princely partners its numerous undertakings were transferred to the Deuteche Bank.
Last October a cablegram from Berlin I stated that the vigorous intervention of the i Deutsche Bank Had saved the " Princes Trust" from ruin> and a grav© calamity to German financial and' industrial interests. The bank's statement disclosed reckless transactions on the part of the trust, ihe'l obligations of which, apart from those to the bank, exceeded £3,000,000 sterling.
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Bibliographic details
Otago Daily Times, Issue 16041, 6 April 1914, Page 5
Word Count
130GERMAN FINANCE Otago Daily Times, Issue 16041, 6 April 1914, Page 5
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