THE GLASGOW BANK FAILURE.

Western Star, Issue 281, 25 January 1879, Page 2 (Supplement)

THE GLASGOW BANK FAILURE.

:• 'i’.UUfrt Viir V><n-liK»8-Mil in stated that in consequence of ithe amount of litigation which in con* nedtion- xrith ; the ' afiairs’- of ‘the City-of Glasgow Bank the liquidators hate come to the conclusion that purely voluntary liquidation is impracticable. They have'the alter-' native of judicial liquidation or liquidation under the supervision of the Court, and they are inclined to propose that the shareholders should agree to the latter, as a middle way,, by which it is expected the present oppoai-,i tion may be overcome, and the liquidation allowed to proceed without further : interruption. It” is ! understood ■ that *-* Mr Auldjo Jamieson, one of the liquids- 1 tors,/ who is now in : London,/ is endeavoring to obtain the concurrence' of, the Southern creditors aqd others interested in this course, and that the. shareholders will? be consulted upon the subject in a day .or two, A requisition is being ysigned ;to the, liquidators te call a; meeting, at which the; proposal alluded to will be submitted. The Procurators Fiscal of the chief 'counties of Scotland are busily engaged / examining witnesses preparatory to this conwig of the directors and officials of this Bank.—Mr Henry Irving and ,J. L. Toole gave anj entertainment ' yesterday 1 in the new Public Hall, Glasgow,™for the benefit of the Shareholders’ Belief Fond. The proceeds amounted to L3BO, - andi this, _ with the L 340 realised f in Edinburgh op Tuesday, makes la .total of L 720 contributed t» the fund byi theso two actors.n Mri Irving and' Mr IToole paid the expenses don-•' nected with both• entertainments.' The returns received last: night; in reference .to the; National Fuad for the >Belief of the City of Glasgow Bank a shareholders,, show that . it has reached close bn. a quarter of a million, sterling. Glasgow has contributed \ Edinburgh L 60,000, Paisley LII,OOO, and Greenock LB,OW.