Many of the creditor banks moved to foreclose on the loans regardless of the collaterals held in order to minimize their losses in the event of insolvency when the promissory notes issued in connection with the construction project by Osaka Electric Tramway Co., Ltd. were found to be worthless.
大阪電気軌道発注工事での約束手形が無価値同然となっていたため、破綻による損失を少しでも軽減するべく、債権を持つ多数の銀行は差し入れている担保品にかかわらず回収に動いた。