A Bank Failure.
♦ [OY ELBCTBIC TKLBQMAPR-OOPr&IQnT.I [Rkutkr's Telegrams.] ADELAIDE, Feb. 24. The Commercial Bank of South Australia closed its doors this morniug. The stoppage of payment is attributed to the refusal of the Associated Banks to render assistance to the Commercial Bank to tide over a critical period. The losses of the Commercial Bank are roundly stated at ,£300,000. It is announced that depositors and note-holders are perfectly safe, as the uncalled capital amounts to .£IOO,OOO, and a further sum of half a million is obtainable in the event of liquidation. A special meeting of shareholders of the Bank has been called for to-morrow to consider the position.
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https://paperspast.natlib.govt.nz/newspapers/TS18860225.2.35
Bibliographic details
Star (Christchurch), Issue 5552, 25 February 1886, Page 4
Word Count
108A Bank Failure. Star (Christchurch), Issue 5552, 25 February 1886, Page 4
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