MARCONI COMPANY.
FRAUD ALLEGED. (by cable—press association— copyright ) (australian and it.z. cable association.)
(Received November 9th, 7.45 p.m.)
LONDON, November 8
There was a heated scene in the High Court when a section of the Marconi Company shareholders, following up a previous decision, opposed a petition to reduce the company's capital by £1,625,000. Incidentally, *hey accused Signor Marconi of speculating in the company's shares to the extent of 150,000 ordinary shares and 38,000 preference shares. Signor Marconi's counsel pointed out that his client was seriously ill, and it was impossible for him to appear to answer the charge of fraud, but he had filed an affidavit denying the charge and the other directors would give evidence fully on the matter. The hearing has been adjourned. [On April 7th the Marconi Company's English shareholders' Association decided to oppose a proposal for a reduction of capital when they came before the Court.]
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Bibliographic details
Press, Volume LXIII, Issue 19154, 10 November 1927, Page 11
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150MARCONI COMPANY. Press, Volume LXIII, Issue 19154, 10 November 1927, Page 11
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