A "PICTURE" SENSATION.

Auckland Star, Volume XLIV, Issue 29, 3 February 1913, Page 5

A "PICTURE" SENSATION.

J. l>. WILLIAMS ARRESTED. ALLEGED COMPLICITY IK FRAUDS. SYDNEY, February 2. A sensation was caused in the city on Saturday afternoon, when James Drson Williams, late managing director of the Greater J. D. Williams Amusement Company, was arrested on a charge of harbouring and assisting Frank Lloyd, who was arrested last Monday at Auckland and charged with forging an order for the purchase of 100.000 of the company's shares. The directors of the Greater .T. D. Williams Amusement Company carried a motion dispensing with the sen-ices of J. D. Williams as managing director from Saturday. In a published statement Mr. Williams contends that the directors have no power to dispense with his services. That can only be done, he says, by a two-thirds vote at a general meeting of shareholders. Tn July last one director suggested to him that a Royal Commission should inquire into the affairs of the company. Williams agreed that this was the best course. Another director, however, said that would be foolish. A few days later the directors declared a dividend of I/IS per share, despite his opposition. Williams says the dividend had helped to cause the present Stock Exchange panic, because it swallowed up the company's : ready cash.

CHARGE OF FORGERY.

REMANDED TO SYDNEY.

■Francis Shortall Lloyd, aged 33, who wae arreeted on the arrival of the Maheno from Sydney laot week, was -to-day remanded in the" Auckland Police Court to appear at Sydney on a eha-rge that on October 31. at Sydney, he forged an order directing Farmer a«' Brown and Leg-op and Bragg to pul(t:hase 150,000 shares in the Greater J. D. Williame Amusemert Co., Ltd.. with intent to defraud. Lloyd was manager of the Crystal Palace pictures, at Sydney.

In the course of a statement on the affairs of T. D. Ltd.. Mr. John Williamson, ono of the director*, said: — "The creditors of the company may rest assuned that everyone "ill !»• | aid 20/ in the c, and I "ill -tak'- my reputation Ito those who are prepaid Ui Z"'<? us some little tonsidir.tioii ii .1 position for which vri- ore in no way responsible. Smie rrertitors who havp received sums amounting lo over £25.000 from the company during the last few months have; pressed fnr tho payment of an account of under £100. and, .-.t range lo say. mi- , mediately the proceeding was commenced jin the Equity ( ourl a copy of tue docirment was flashed about the :>took bxehange with no other motive, in my opinion, than helping the wreckers, and ' those who wish to see the company down I for ever. The amalgamation with the General Film Company of Australia, despite all sorts of intrigues, will be completed. We will come out with flying colours, and the shareholder-, - may rest assured that with Australian conservative management their interests will be considered and many extravagances will be cut out. In a very few dafS alj the responsibilities of the company wilj be mta, but I do ask for a little fSirneas and consideration to men who ure Strug- , gling to give everyone a fair deal. I give my assurance that tho Internal organisa- ■ tion of the company is absolutely solid, and the share register is perfectly clear. Xo tampering whatever has been attempted in this regard. Several radical changes have already been made in the management of the company, and when it is properly cared for by the men connected [ with West's, Spencer's, and Amalgamated Pictures allying forces with our own men, 1 think a desired effect will result with a great saving and good profits for the joint concern."