The Waring Taylor Prosecutions

Auckland Star, Volume XXVI, Issue 4520, 24 November 1884, Page 2

The Waring Taylor Prosecutions

The Wai ing Taylor frauds have not excited so deep an interest here as in Wellington, only because i ho position of the bankrupt and the character of his transactions are not sufficiently known. By all who have followed tho case, however, a feeling of genuine satisfaction will bo experienced that tho man is not to escape prosecution. It would bo a disgrace to our judicial system if a man who has recklessly and shamolessly applied to hia own uses thousands of pounds of other people's money placed under his control in reliance upon his integrity were let off scot free, while the needy vagabond who picks up a few unconsidered trifles is sent to gaol without compunction ; yet Taylor had nearly escaped through the loopholes of the law. Waring Taylor moved in tho first sets of Wellington society, a loading businosß street bore his name, he was a pillar of tho Church, tho man above his fellows to whom any person in search of a trustee would confide his goods. And many did put their confidence in him, little suspecting that their trußt-money was passed directly to his own credit, to bo used m his business or in the furnishings of his mansion, or any other way that suited bia fancy. Some people who could ill afford to lose their money—one on aged minister, another a poor governess—have lost their little all. There wero estates of larger amount, and in connection with one of these criminal proceedings have now* been instituted. In that estate the bankrupt admitted selling Bank of New Zealand shares and paying the money into his own credit, although leading tho persona dofrauded to believe that the investment was still intact. When hard pressed to disgorge tho plundor from one ostatu he used another to stare olf the too pressing creditors. The inevitable crash came at last, and then the creditors were told that tho law makes no provision for bearing the expenses of prosecution in such cases, and that if the persons defrauded wished to punish the unfaithful steward, they must increase their losses by committing themselves to tho cost of nn uuccrtaiu lawsuit. Mr Samuel*, member for New Plymouth, carried a resolution in the House of Representatives declaring that tho Government ought to prosecute in such casos, and hence probably tho actions that have at length boon instituted. Tho number of tho bankrupt's shady transactions may bo inferred from the six or seven separata informations already laid, and the report that twelve others aro In preparation. If the commercial morality of the country^ is to maintain a healthy tone, neither personal influence nor commiseration for the families of men in Waring Taylor's position ought to savo them from prosecution for flagrant breaches of trust.