Stoppage of a Bank.
Adhlaidf. February 24 The Commercial Bank of South Australia closed its doors this morning. The stoppage of payment is attributed to the refusal of the Associated Banks to render assistance to the Commercial Bank to tide over a critical period. The losses of the Commercial Bank are roundiy stated at £300,000. It is announced that depositors and noteholders are perfectly safe, as the uncalled capital amounts to fioo.oro, and a further sum of £500.000 is obtainable m the event ot liquidation. A special meeting of the shareholders of the bank has been called for to morrow, to consider the position.
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Bibliographic details
Wairarapa Standard, Volume XIX, Issue 1800, 26 February 1886, Page 3
Word Count
104Stoppage of a Bank. Wairarapa Standard, Volume XIX, Issue 1800, 26 February 1886, Page 3
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