RUN ON A BANK
WILD SCENES IN BOMBAY. CALCUTTA, September '3. There were wild scones in Bombay, when a run took place on the Central Bank of India, dne to the similarity of the name of one of the directors of the bank with that of a Bombay merchant who is in difficulties. At three branches, no less than 150 lakhs of rupees, or nearly £1,000,000 were paid out. The bank, as a matter of fact, had no dealings with the financial parties who had failed, and the. run, no doubt, was inspired by enemies of the bank. This bank, which is believed to he undoubtedly sound, is under- Indian management from the managing director downwards, and is the only all-Indian bank of its class. Two ago the ore stock in Tata’s Industrial bank was .attacked in a similar fashion, after the failure of the Alliance Bank, at Simla. European banks hastened to the rescue, and yesterday the currency office assisted in the provision of ready’ cash. Everything is again quiet and normal.
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Otago Daily Times, Issue 19584, 14 September 1925, Page 8
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173RUN ON A BANK Otago Daily Times, Issue 19584, 14 September 1925, Page 8
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