CRIMINAL SESSIONS.

Auckland Star, Volume LII, Issue 190, 11 August 1921, Page 2

CRIMINAL SESSIONS.

TRIAL OF COMPANY MANAGER. ALLEGED FALSE PRETENCES. , The trial of Alfred Oscar Otfco, land salesman and manager of the National Co-operative Kc-aiity Company, Ltd-, on a ciharge of obtaining £500 from James McKay Linklatcr -by means of a false pretence was co-n.tiimed at the Supreme Louint to-day, before Mr. Justice A-diaons and a jury of twelve. The prosecution was oou.J'uctcd by Mr. V. R. Meredith, Crown Prosecutor, and the prisoner was defended by Mr. Leary and Mr. Gateroby. On Mr. Meredith's aippliiication, whiioli was not opposed by Mr. Leary, the indictment was n-memlect, the sum involved being reduced from .CSOO to .£4OO.

The last witness for the defence was 1. 13. I). Esam, public accountant, who had cxj-iii-ined the books of the company, and who said the gross earnings for the year to November -'SO, 1020, aniounited to C 0043. The expenditure appeuji'cd heavy, salaries licing L-2500, 'bonus commissions £1053, travelling expenses i'lloS, motor car expenses £ 595, oaid advertising £725. lie would not call tihe statement prepared by the bookkeeper a balance-sheet, because the oatpital account w*as omitted, and no goodwill was shown. From a comparative st-aitenuen-t of afiVi'lrs for tihe same period he had ascertained that the assets exceeded liabilities by £5452, leaving out 'the fully paid-up capital, £5755, which was a liability, but w->as balanced by tru'odw-'ill of a similar amot.ltt.

In reply to Mr. Meredith witness admitted it was pu.rely a paper balbineeshco.t, but added -that 'it was drawn in lux-aml-ancr witli -tlhe books. On the bookkeeper's statement the company wa.s not shown to be in a. good position. Addressing the jury, Mr- LeJa-rv said there was nothing wrong in Otto taking up .-'hares in the company on the under-stan-din.z that he would be in a position to sell them to new employees; -or in his i-norancc of the books; or in the, company being short of money. What busiuses c-ont-ern in New Zealand did not need cash? Even the Gorerrmierat required money. If any representations were made, said counsel, Otto honestly «vi c « V h d 4Vi U ' c futupe of the company and that the concern was financial. (Proceeding.)