SUGGESTION OF A LEAKAGE

Press, Volume LXX, Issue 21257, 31 August 1934, Page 11

SUGGESTION OF A LEAKAGE

FN FORMATION A BOLT PROPOSED ACTION FINANCE MIMSTICK'S KLI'I.V H-'roiri Our .Parliamentary I tepui'ie-. I WELLINGTON, August 30. A suggestion that information had leaked out as to the Governments intended action regarding the operations of a group of investment trust companies before the Companies Special Investigation Bill was introduced to Parliament, winch made by Mr R. Semple i Lab.. V, ei 'ington Cast) during the Im|./i(-"t Supply debate in the House oI Lipresentatives to-night, v..is tee iu to bv the Minister for I'lnance \th Rt. Hon. J- G. Coate.s) latei m the evening. . ~ ~, "T cannot, answer lor that, -nMr CoatfS, "but I can assure Uy honourable member tno in.o mat ion came from any <j <it m source. Mr J. S. Barton d>a m ■ of the commission), :,rici A - ,~; Park (secretary of Ihc Jrea-uty went to Australia, and that tact w a noted bv several very poopie. No doubt tliej, )*i '*:ni vi ve. M , , , ' It was decidedly nut the - nMerit's position 'to say about, these companies, he Proper official enquiries weie bcm.,, eia.de. Whether any ol the acts. o. the companies were within tne las. or whether they were not. woulu V- decided in the proper place -v. far as it was official had been given out. ,o a s a before the bill had been b.ouJu -town. The Government s «n had been kept to lower pe<--.ons eould be counted on one hand "T know that a number or que; i---'vere made, even in Un.-> cu,. , ";hy this and that . r :onrJ tided Mr Coutes, uu . cv .. - ' ■ was requested to ask no quest 10.i... Mr Semple had previously u.,Ut< the Minister if there was J »3 ti in a report in the ' Sunday '' to the effect that a forlnigh - tbe bill came down certain '"s'y, had approached sharohok("i • companies, warning th'm o

was going to happen. Mr Sempie c-iid these brokers must have oecv informed what the Government was ffoirig to cto. "What is tho point'.'" Hi' Loates interjected. "is it that the Uuvc-rr. ; nvjiit gave the tip tu these p.'ople. Mr Scmplo said the point thai certain things were alleged to be known to brokers in opposition to the group of companies, and tea', these persons had taken advanta;;: of the information to anion,, <V -hnrcholders. Mr Semple \vondered if there had been some leak _ Members of the Mouse wouw like to know. He concluded by saythat he thought the .umustci ■, ,"i !)'"■'!•, uer.'ec'.iy nehi tu kcc;j ul yhih". riei.; tu,