BIRKBECK BANK.
(United Press Association—Copyright
LONDON, June 15.
The Right Hon. Lloyd-George, in the House of Commons, said the Board of Trade had informed him that the Birkbfcrk. Bank failure was due to depreciation oi" the values of securities held.The newspaper statements that the failure was in any way attributable to the Liberal Government's finance policy was both mendacious and mean.
Mr Lloyd-George quoted the Birkbock Bank's accountants' statement, showing that the., greatest fall in investments occurred at the time of tlio Boer War, when the reserve was ample to cover every bit of scrip. The depreciation was due more to the- extension of trustee investments than to colonials. Mr Lloyd-George concluded by stating that the Birkbeck holdings show a greater depreciation from the ovo of the Boer War to the end of the Unionist Government than since 1.009. "The allegation that the failure was duo to something occurring since 190*9 was an unqualified falsehood.
CABLES.
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Bibliographic details
Wanganui Chronicle, Volume L, Issue 12765, 17 June 1911, Page 5
Word Count
156BIRKBECK BANK. Wanganui Chronicle, Volume L, Issue 12765, 17 June 1911, Page 5
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