Australian Banks.
[Special to Pbess Association.]
LONDON, .Mat 9. The City of Melbourne y Bank Creditors' Committee consiefcs.of Sir Evan Colville, Messrs Nepean,",Vesey, Fitzgerald, Walter Morrison and A. D. Fairbum, with Mr A. E. Webster ; as secretary. They do not intend to oppose the steps being taken by Mr: Thomas Loader, Chairman, of the Melbourne Board of Directors, bat will endeavour to secure the beat 1 possible terms for the creditors. ' ; Mr Loader thinks tbat the committee is not likely to affect the success of the, scheme he proposed for the creditors! making certain concessions.
Tho annual report of the London Bank of Australia recommends a dividend of 5£ per cent on preference shares, and that the sum of .£7868 should be carried forward. Thei report states the acconnts again are • adversely affected by a continuation of the circumstances mentioned in tho last report. Further reductions are* being made in the expenses, and the directors express gratification at the recent signs of improvement in Australia, where the profit and loss account shows a credit balance of' .£12,596.
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https://paperspast.natlib.govt.nz/newspapers/TS18950511.2.76
Bibliographic details
Star (Christchurch), Issue 5256, 11 May 1895, Page 6
Word Count
177Australian Banks. Star (Christchurch), Issue 5256, 11 May 1895, Page 6
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