CRASH FEARED.
BIG GERMAN COMPANY NEARING CATASTROPHE. ignited Press Association— By Elsctrls Talecrsph—Copyright.) (Received August 21, 7.30 p.m.) BERLIN, August 21. Financial circles experienced a sensation when they learned that the General Insurance Company, the second largest company in Germany, is on the vepge of a catastrophe. The company’s purely insurance reserves are intact, but recently it engaged in outside business, including financing on instalment sales of motor-cars to support small banks, with the result that the company is now responsible for guarantees amounting to £8,000,000, including £2,000,000 to British and Swiss financiers.
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Bibliographic details
Timaru Herald, Volume CXXV, Issue 18350, 22 August 1929, Page 9
Word Count
93CRASH FEARED. Timaru Herald, Volume CXXV, Issue 18350, 22 August 1929, Page 9
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