HATRY COLLAPSE.

Press, Volume LXV, Issue 19735, 27 September 1929, Page 11

HATRY COLLAPSE.

COMPANY DECLARED A defaulter. FICTITIOUS SECURITIES. (OIIU FPI4S i.SgOCIiTIOS-SJ *L»CT*IO mios»pa--copTlis'»-/ LONDON, September 25. The Stock Exchange has declared the firm of W. Russell and Company defaulters. One of the directors is George Ireland Russoll, from om Hatry obtained £209.141, «« the deposit of securities, which, while purporting to be worth £150,000, were absolutely tictitions and worthless. The Stock Exchange Committee for general purposes has ordered tnat me settlement of bargains open tor current account in the following stocks wIJI be deferred till October 24th: Associated Automatics, Corporation ancl General Securities. Drapery Trust preferences. Far-Eastern, Photoniaton o sliaies and debenture.?. Oak liuestments, Photoniaton Parent Corporation, Retail Trade Securities, and Wakefield Corporation per cents., 1049-59. The committee has issued a statement to the effect that owina; to the number of names of parties ultimately interested, it has been impossible for the committee to identify and isolate all transactions irom one Hatry company to another. The committee, therefore, was left only two alternatives: One was to postpone the settlement of such shares and securities in the Hatry group under suspicion, irrespective of the parties concerned, and the other was to allow settlement to proceed in the ordinary course. It Was decided to postpone settlement till October 24th. —Australian Press Association. [George Ireland Russell, who was acting on behalf of the Porchester Trust, Limited, took over from Hatry securities purporting to be £]o0,0&) worth of the Wakefield Corporation's 4$ per cent, stock, but which were subsequently proved to be utterlv fictitious and worthless. The Wakefield Stock was issued b.v Corporation and General Securities, Ltd., and the money advanced 'was used in the companies known as the Hatry Group.] SYMPATHY EXPRESSED. LONDON", September 25. General sympathy is expressed with the Russell Company, who were declared defaulters after they had informed the Committee that they could not comply with their bargains. They thought this was the honest course to take. —Australian Press Association. . RUMOURS DENIED. MRS HATRY NOT IN LONDON. LONDON, September :.'o. Some newspapers published sentimental stories of Mrs Hatry's appearance at the Guildhall, when her husband was charged, and also of her visiting him in gaol and leaving in tears. Mrs Hatry's secretary states that Mrs Hatry was neither in Court nor did she visit the gaol. She has not been in London since September 19th, and is remaining in the country.—Australian Press Association.