MELBOURNE BUILDING SOCIETY.
Melbourne, Decembar 12,, Owing to the falling revenue following oh the recent bank failures, the reconstruction scheme of the Melbourne Permanent Building Sooiety agreed to in March last has been found to be impracticable, A new scheme is now bein* submitted, under which a dividend will not be paid until the sum of £30,000 !iaa bean added to the presem reserve fund out of profits. It was announced that Mr Johnston, the late manager, misappropriated something like £12,000, of which £5,800 waa adraxioed by means of fictitious loans, and over £6,000 advanced by persona believed to have been his nominees.
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Bibliographic details
Colonist, Volume XXXVII, Issue 7812, 13 December 1893, Page 3
Word Count
103MELBOURNE BUILDING SOCIETY. Colonist, Volume XXXVII, Issue 7812, 13 December 1893, Page 3
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