Auction Date:2011 Sep 24 @ 12:00 (UTC+1)
Location:The Freemasons Hall - 17 Molesworth Street, Dublin, Dublin, ., Ireland
1885: Munster Bank liquidation ledgers and minute books - The last major Irish bank failure
An excellent collection of primary source documents relating to the only occasion between 1856 and 2008 that an Irish bank failed. Including, Munster Bank Ltd. Liquidation Minute Ledger, Outstanding Dividends Ledger (31 October 1888) and 1883 report of the directors of the Munster Bank. The ledgers give an insight into the size of the failure, the bank's financial situation, the process of liquidation and the plight of its shareholders who "had invested the earnings of years, in some cases of a whole lifetime, in the shares of the Bank, and who were rendered by its failure absolutely or very nearly penniless". The failure of the bank bears remarkable similarities to more modern crises, over-extending credit and holding inadequate reserves, insider lending to directors without adequate security which resulted in a take-over of the Munster's assets and liabilities by a new institution. Also with a copy of an essay by Cormac Ó Grada relating to the bank failure in which he cites this unpublished material. (3 items)
Auction Location:
The Freemasons Hall - 17 Molesworth Street, Dublin, Dublin, ., Ireland
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