SECURITY FOR OVERDRAFTS
JOINT AND SEVERAL GUARANTEES. PRACTICE STRONGLY CONDEMNED. % By Telegraph—Press Association. Wellington, Last Night. A serious view was taken by the Wellington Chamber of Commerce of the giving of joint and several guarantees to banks as collateral security for overdrafts arranged for limited companies at to-night’s meeting of the chamber. Several speakers spoke in strong terms against the practice. A motion was passed supporting the statement made that giving such guarantees was fraught with results not conducive to sound business practice.
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Taranaki Daily News, 21 March 1934, Page 7
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83SECURITY FOR OVERDRAFTS Taranaki Daily News, 21 March 1934, Page 7
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