Local Bank Amalgamation: Proposal Approved by the Shareholders: The proposal by the directors of the Birmingham District and Counties Bank to acquire the business of the Midland Counties District Bank, Limited, which has seven establishments in Nottingham and 22 branches throughout the Midlands, a paid up capital of £125,000 and a reserve fund to the extent of £25,000 was laid before a full meeting of the shareholders in the former concern at the Grand Hotel, Birmingham, on Friday afternoon. Sir James Smith presided and was supported by Sir A. F. Godson M.P. and other directors: Mr. A. R. Pinsent (sic) read the draft of the proposed agreement of purchase, which set forth the purchase price as £50,000 in paid-up shares in the Birmingham Bank, and a bonus of 12s 6d per share in case, amounting to £15,000 odd, … (detailed discussion) … The resolution confirming the amalgamation was carried practically unanimously, only some six or seven hands being held up against it.
Transcribed in whole or part from scanned originals: Presented with or without modified text and punctuation. For absolute accuracy refer to the original newspapers. Source: The British Newspaper Archive.
Referenced
GRO0738 Devonport: Richard Alfred Pinsent: 1852 – 1948