THE LOAN AND MERCANTILE COMPANY.
Preea Association—By Telegraph—Copyrights London, April 26. Mr Moore, the of the Loan and Mercantile Agency Company, stated that he objected to the Waikato shares appearing on the balance sheet under the heading of wool and produce advances. They required a separate heading.
Mr Paul, however, stated that ie was iv accordance with the Directors' wishes and witness made no protest to the Hoard. Hβ had often asked for information regarding the interest earned, but had been always refused. April 27. Mr Moore, continuing hie examination, said it would have been impossible to havf sanctioned the earlier balance-sheets had he been in possession of full information as obtained in 1893. The unproductive capital in IS9I stood at a million sterling, and be admitted thac the balance-sheet of 1892 was not a fair statement.
Mr Paul stated that the increased losaes on Australian property were due to rabbit-fenciug lind other improvements, and not to the non-payment of interest, iir Moore, he said, was not aware of the deficits.
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Press, Volume LI, Issue 8780, 28 April 1894, Page 7
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171THE LOAN AND MERCANTILE COMPANY. Press, Volume LI, Issue 8780, 28 April 1894, Page 7
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