HATRY ARRESTED.

Auckland Star, Volume LX, Issue 224, 21 September 1929, Page 11

HATRY ARRESTED.

LONDON FINANCIER. "Croesus" And Three Others Spend Night in Gaol. Great sensation caused. •(■Australian alul N:55. Press Association.) (Received 2.30 p.m.) LONDON", September 20. Tlie greatest financial sensation in Britain since the war pivots on the arrest to-night of Clarence Hatry, the directing;genius of 'an interwoven group of fiiianci al undertakings. •Earlier in the day Hatry consulted his -solicitors. ■ They told him exactly 'how he "stood from tlie legal viewpoint, and advised him 'to place the position before'tiioauthorities. This applied also to 'Edmund 'Daniels, John G. Dixon and A. 'E. Tabor, directors of various Hatry companies. •Hatry and his associates then conferred, and decided to see the Directorof Public Prosecutions. They made personal arrangements with their wives, in case of eventualities, and tlie four dulyarrived at the office of Sir Archibald Bodkin, where they made a statement to detectives trained In the intricacies of company business. "Art -interval} followed, aud then was explained ; to Hatry and hia associates, that in view of their statements theycould not be allowed to go free. Accordingly the four were taken in taxicabs to a police station, where they were formally charged, and locked up for the night. They will he charged at the Guildhall to-day with various offences arising from their financial operations. An employee arrived offering bail, but he was informed that that was a matter for the magistrate. It is learned that Hatry and his clue? Associates realised on Thursday night that no assistance would be forthcoming fi'om the great banks, and that on the contrary the banks were pressing the companies and insisting on an investigation. • Every avenue had been explored, and had failed. Hatry explained the situation/and finally said-simply, "Well/boys,• this is the finish." Daniels fras 1 once a bank clerk, and is.now a director of 15 companies and managing director of a.corporation. The "Daily says lie owns 'three residences and" five motor cars. Hatry's office a magnificent ■drawing 'room, and in it, in an atmosphere bf Sublime 'rest Hatry •wotked, coatle'ss, long after his staff had departec.. ; He went home at midnight, ate a simple supper, and frequently read 'light literature for half an- ; hour before he went to sleep. His..-intimates dubbed Hatry tho Croesus of finance." He has had a remarkable career. He started at St. "Paui's school, and then went on a Continental tour, studying Erencli and German. He became an insurance clerk and when he was 25 he reorganised an insurance company, involving £250,000, Then he went higher in finance, till at one period he soared to dealings of 30 millions. He was notalways successful, but his genius enabled him to regain, even after set-backs, 'the confidence of 'big ; finahcers, ? It -is known he was interested 'in Australian ; ahd other Dominion d'oan Markets, always thinking in millions.