MONETARY AND COMMERCIAL.
«, [Special to Pbbss Association.] LONDON, JtJ_Y 24. Mr E. S. Davie, speaking at a meeting of the Queensland National Bank creditors said that the suspension had been caused by the , unfair criticism of a section o£ the Press. Every deposit had been withdrawn when it fell due nntil a million sterling had been paid out. He assured the meeting that the creditors had a reasonable expectation of receiving both interest and principal, if the reconstruction scheme were sanctioned ; otherwise the outlook was very poor, as Government could claim priority in the event of liquidation. If the Bank were to go into liquidation at present, it would result in an alarming shrinkage of assets. The depositors and shareholders unanimously adopted the reconstruction scheme. Mr Licht, sugar expert; estimates that the ten months' beet production will yield an increase of 8000 tons. The campaign is expected to be 90,000 tons below last season's yield.
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Bibliographic details
Star (Christchurch), 25 July 1893, Page 3
Word Count
155MONETARY AND COMMERCIAL. Star (Christchurch), 25 July 1893, Page 3
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