OCR Text |
Show The Cruguay National Hank. Montevioo, Uruguay, March 35. The bill for a National bank, with a capital of $8,000,000, bus passed the legislature. The principal privileges granted are that it is a judicial and government depository and can issue small notes to within 40 per cent of its capital. The bank is to be opened within six months wl ll a paid-up capital of $4,000,-000, $4,000,-000, The government will receive an open credit of $1,500,0 JO; will participate In the protits and appoint the president of the iu-InttltUtion. iu-InttltUtion. A syndicate of English and Belgian capitalists will elect the directors. It is expected that the new bank will restore public confidence, and that the danger of forced currency is now happily averted. |