SIMLA BANK FAILURE.
SOME HEAVY LOSSES. By Telegraph—Press Association—Copyright Australian and N.Z. Cable Association. (Received April 28. 2. A0 p.m.). DELHI, April 27. The Alliance Bank of Simla closed its doors on April 27. The directors explained that this course was adopted owing to heavy losses, consequent on continued withdrawals. Since tile last report negotiations had been carried on for the purpose of associating the Bank with more powerful banking, interests, but they were unsuccessful. It was therefore decided to close while the affairs of the Bank were still controllable, and arrangements coukl be made to cause those interested a minimum of inconvenience and loss. Provided it is possible to arrange for liquidation under the surveillance of the imperial Dank of India the latter is prepared forthwith to repay 50 per cent of the deposits, and it should be possible to complete arrangements within a fortnight-
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Bibliographic details
Star (Christchurch), Issue 17027, 28 April 1923, Page 13
Word Count
146SIMLA BANK FAILURE. Star (Christchurch), Issue 17027, 28 April 1923, Page 13
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