COMPANY DIRECTOR ON TRIAL

Press, Volume LXXIX, Issue 24112, 23 November 1943, Page 6

COMPANY DIRECTOR ON TRIAL

CHARGES OF PUBLISHING FALSE BALANCE-SHEETS

(P.A.) DUNEDIN, November 22. The hearing of several charges of false pretences and publishing false balance-sheets against Stanley Reginald Burns, a company director, formerly of Dunedin, was commenced in the Supreme Court to-day before Mr Justice Kennedy and a special jury of 12. The Crown Prosecutor, Mr F. B. Adams, appeared for the Crown, and accused was represented by Mr C. S. Thomas, of Christchurch, and Mr G. V. Murdoch, Mr Adams said the case would be a long and complicated one, and asked that the jury be provided with typewritten copies of the indictment, and also with copies of the balance-sheets involved in the charges. His Honour agreed to counsel’s request. The reading of the full indictment by the registrar occupied about 12 minutes. Opening the case for the Crown, Mr Adams said that of 12 charges, six related to false pretences, and the other six to the making and circulating of false balance-sheets of S. R. Bums and Company. The company was incorporated in 1934. The business of the concern was the promoting and financing of companies, accused being chairman of directors and managing director. The company’s balance-sheet maintained an “air of prosperity,” with one partial exception. The 1939 balance-sheet disclosed that the paid-up capital of the company stood at £37,461. The total amount at stake on the part of shareholders was £38,827. Real assets were shown to be £42,024. “We have two letters written by accused to one Facer, of Christchurch, the first dated September 26, 1939, and the other October 30, 1939,” Mr Adams said. The letters had been written two and three months after the company’s balance-sheet had been approved by the directors, and yet the letters disclosed that it was false to the extent of almost £33,000.. Mr Adams had riot completed his address when the Court adjourned until to-morrow.