Commercial Bank of London Ltd., £1 shares, 1920, facsimilie signature Clarence Hatry
£45.00
- Description
Description
Commercial Bank of London Ltd., £1 shares, 1920, facsimilie signature Clarence Hatry, black. VF
Hatry was involved in business immediately following WWI, first with the City Equitable Fire Insurance Co., and then with consolidations in several industries by creating Trusts as holding companies. He was in financial difficulty by 1928 and he falsely issued local government debentures to prop up his many ventures and borrowed large sums against them. They all finally collapsed in 1929 and the truth became evident. He was found guilty of fraud and sentenced to 14 years imprisonment. The collapse of his group of companies was thought to have contributed to the Wall Street Crash of 1929 later that year. On his release he acquired Hatchards Bookshop in Piccadily.
