FARROW'S BANK.
/ SUSPENDS PAYMENT. By Telegraph—Vress Association—Copyright. A net* eliah and N.Z. Cable Association. ■ (Received December 21, 9.10 a.m.) LONDON, December 20. Farrow’s Bank has suspended paymerit. , The failure is regarded ns unimportant from a financial viewpoint, but' it is likely to cause considerable hardship. It is known as “The People 3 Bank,” and has seventy-three branches. Tho customers are mostly small shopkeepers and clerks. The Board of Trade states that tho failure due to losses in trading over a series of.- years. , TO COMBAT USURY. United Service. (Received December 21, 1.10 p.m.) t LONDON, December 20. Barrow’, s Bank Imd nn authorised capital 'of £1,004,000. Shareholders’ deposits and other accounts amounted ii Vel i £'LOQO>OOO. The establishment or the bank was at direct outcome of the anti-usury campaign, and was designed to compete with usurers by lending money on equitable terms.
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https://paperspast.natlib.govt.nz/newspapers/TS19201221.2.70
Bibliographic details
Star (Christchurch), Issue 16305, 21 December 1920, Page 8
Word Count
142FARROW'S BANK. Star (Christchurch), Issue 16305, 21 December 1920, Page 8
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