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Show THE UAli OF GL4SGOW. An Fxtreinely Bad Showing of hjMlemttllu Ueceplluu. London, 18 The official report of the investigations into the affairs of , the City of Glopgow bank, juBt iesued, 1 ia worse than the moa- gloomy forebodings fore-bodings The loss shown in tbe balance bal-ance Hheet is 5,190,983 Tbia Iws, with the addition of 1,000,000 capital, capi-tal, the shareholders will have to make good. The report shows the practice of systematic deception. Tnup, since the commencement of the year, weekly returns of the amount of bullion in hand, which the bank waa obliged to make government govern-ment so as to show that it j funds were maintained in due proportion to its note issue, bave been falsified by adding thereto- imaginary im-aginary sums varying from 00,000 to 300,000. The directors' reports to ehareholders also overstated tbe amounts ot securities or bullion held in reserve by 926 764 and 200,000 respectively, and understated the loans granted by 1,126,764. The directors turthermore have been in the habit of treating, in the balance sheets, 7,-345,357 7,-345,357 ot bad debts, over half ol which ia duo by four debtors, as an available asset. The principal assets of the bank are bonds and shares of the Western Union railway of the United Status and Bcrip ot the Now Zealand and Australian Land company, tbe value of which estimated at 358,450 and 973,845 respectively. Crowds were .assembled before the bank aud exobange awaiting the report re-port which caused consternation. A call for 500 per share is anticipated, which it is thought half the shareholders share-holders will be unable to meet. The remainder of the shareholders will thus ultimately be compelled to pay double. |