AN INDIAN BANK.
TEMPORARILY CLOSES DOWN
!Elec. Tel. Copyright- linked tress Assn.) (Reuter's Telegram.) (Receivod April 28, 2.30 p.m.) . r DELHI, April 27.. The Alliance Bunk af Simla closed down on the 27th April. The directors explained that this course was adopted owing to heavy losses consequent on the continued withdrawals since last report. Negotations had been carried on for the purpose of associating the bank with more powerful banking intorcsts, but they were unsuccessful, It was therefore decided to close while the affairs of the bank were still controllable, and arrangements can be made to cause those interested the minimum of inconvenience and loss, provided it is possible to arrange for liquidation under the surveillance of the Imperial Bank of India. The latter is prepared forthwith to repay fifty per cent, of the deposits. It should be possible to complete arrangements within a fortnight.
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Bibliographic details
Poverty Bay Herald, Volume XLIX, Issue 16112, 28 April 1923, Page 8
Word Count
145AN INDIAN BANK. Poverty Bay Herald, Volume XLIX, Issue 16112, 28 April 1923, Page 8
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