SALE OF BONDS.

Auckland Star, Volume LXI, Issue 66, 19 March 1930, Page 9

SALE OF BONDS.

A AND N.Z. INVESTMENTS LTD

COURT REFUSES REHEARING.

(By Telegraph.—Special to "Star.")

GISBORNE, Tuesday.

A sequel to a recent decision of Mr. Harper, S.M., in a claim against Australian and New Zealand Investments, Ltd., was heard to-day, when the company applied, through counsel, for a rehearing, on' the grounds that when the case was originally heard the company had no one in New Zealand looking after its interests. It was claimed that service of the summons was irregular in any case. Counsel stated the managing director of the company was now on his way to the Dominion, and that until he landed no one in New Zealand was capable of defending the action on the company's behalf. Opposing the application, counsel for respondent stated that the company was selling bonds throughout Australia and New Zealand, and that, apart from bond selling, the whole of its business centred in the Dominion. It was suspicious, he said, that a company operating in New Zealand should be registered in Sydney, but, worse still, that it should have no one looking after its affairs here. If the company was genuine it must have someone in New Zealand capable of dealing with a claim for £20.

The magistrate held that the summons had been properly seived, and that there were no grounds for granting a rehearing.