A GUM ACCOUNT.

Auckland Star, Volume LI, Issue 195, 16 August 1920, Page 2

A GUM ACCOUNT.

' I INTEREST fXATMHD b\m .VDVHNOEH. ij A ci\il action, in which the firm ol A. S. Paterson. Ltd.. claim - from John , I Friich. gum buyer. £175 11/*2. occupies . | the attention ot h;.s Honor ALr. Justice I Cooper and a jury of tour to-da.i. ' ] The plaintitLs were represented by Mr. 1 ; Mucky, and the defendant by Mr. <souid. 1 , Tnc claim was for sundry items of in- '; teres! totalling in all £231 8/5, of which j i.iii 17-/3 was stated to have been paid, leaving the balance sued for. Counsel ; | said too plaintiff firm was in 1900 m- . terested in kauri grim, and in that year , | Uriirh opened an account with them. I ; Uriich bought gum and supplied it to - the company, and money wa, ad-vaneed ito him on gum before delivery. Fot ' | these advances interest of B per ceDt. was _ I charged in suxordanee with the custom iof the trade. Defendant denied that lie ; ' shonld pay these interest charges, coni tending that there hud Wen no agree- ; ' ment to this effect. ; fHerbert Stewart Kastgate. manao-er of . the firm's Auckland brancli. deposed that '. he had spoken to defendant prior to tiie ■ account being opened, and vi.l matters. I including the question of advances, were _ - made dear between them. These '_jiwivanc.es to be T.i per cent, of the ! c.st.mntexl value rrf the gum. with an _i! interest rate of 8 per cent, to be charged , I until each tranaction was closed by tlhe ■ ; delivery and sale of the gum. t I The case it* proceeding. 1 I __________________