HOME BANK FAILURE.
A COMPASSIONATE GRANT
DIRECTORS’ CONVICTIONS QUASHED.
(Sydney Sun Gables.) (Received June 29, 10 a.m.) OTTAWA, June 28.
When the Home Bank failed last year, thousands of small depositors lost thoir all. Parliament has now passed a cum* passionate vote of three million dollars from which all depositors having- deposits of five hundred dollars, or less, with the bank at the time of the failure are to receive thirty-five per cent, of tlia amount. Larger depositors will have to prove- straitened circumstances before they benefit. Some time ago the directors of the Home Bank were convicted and givin sentences ranging from one to ten years. Yesterday an Appeal Court quashed the convictions on a technicality.
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Bibliographic details
Poverty Bay Herald, Volume LI, Issue 16768, 29 June 1925, Page 7
Word Count
117HOME BANK FAILURE. Poverty Bay Herald, Volume LI, Issue 16768, 29 June 1925, Page 7
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