FAILURE OF BANK.
SEQUESTRATION ORDERED. By Telegraph—Press Association—Copyright Australian and N.Z. Cable Association. ROME, January 5. The Court ordered the sequestration of the private fortunes of the administrators of the Banca Disconta, including Marconi, the wireless inventor. It was reported on Saturday last that the Banca Italjana Disconta, one of the three biggest banks in Italy, had collapsed. It issue! a statement that it had taken advantage of the moratorium. The bank was heavily involved in the Ansaldo engineering companies and the latest balance-sheet showed liabilities, including *hare capital. or six thousand million lire. A syndicate of banks collected one hundred and eighty million lire to restore the position of the Banca Disconta, which was reported to have reached an agreement with cur ent creditors.
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Bibliographic details
Star (Christchurch), Issue 16625, 6 January 1922, Page 7
Word Count
125FAILURE OF BANK. Star (Christchurch), Issue 16625, 6 January 1922, Page 7
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