The Independent - London, April 17th, 1996
Speculators are still stuffing cash into new accounts with building societies at a rate of pounds 50m a day as the scramble to open accounts and qualify for a cash bonuses or a share handouts continues.
Last week, Northern Rock announced plans to become a bank and turn its members into shareholders. This week, Bristol & West has agreed to surrender its independence and mutual status to the Bank of Ireland. Speculators who have opened accounts since the start of this year will only get a modest pounds 250 of preference shares as a reward for their persistence, but this is still better than the...
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