CO129-241 - Governor Des Voeus - 1889 [1-7] — Page 626

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the

of the Bank shall be subject to unk rited liability in respect of the noto issuɛ orden event of the Banks suspension of the assets should prove insufficient to satisfy the claims of both the note holders and general creditors, the shareholders after satisfying the remaining. demands of the note holders shall be liable to contribute towards payment of the debts of the general Creditors a sum equal to the amount received by the note holders out of the general assets of the Company (Scon 12 and 13 Ordinance 5 of 1866 Amended 13 Deer 1882)

with the Oriental Bank the nole holders simply ranked as ordinary Creditors, and the Shareholders of 4 + Bank had no additional

& leability for the notes.

I am aware that Lord Knutsford in making

the stipulation is solely actuated by motives of public good but I would bey His Exxcellency to bring to His Lordships notice that the Banks note circulation is limited to the amount of the Banks Capital (7/2 millions X), that in the event of heavy losses jeopardising the Bank, or it's credit becoming scriously injured the circulation would in a few days very

£