EX=MINISTBR'S FRAUDS.
STOCK EXCHANGE LOSSES. (DT TELEGRAPH —PRESS ASSOCIATION—COPTBIOnT.) . Copenhagen, September 20. The'examining magistrate states that M. Alberti, tho Danish ex-Minister for Justice, charged with frauds, lost six million kroner (about £325,000) in six years on the London Stock Exchange. Mr. S. Turner, representative of Messrs. Wilier and Riley, tho British produce merchants, asks us to state that he is convinced that in the recent Press Association cablegram his firm's losses through tho Alberti frauds are over-stated. He believes that instead of the amount at stake is only about onetenth of that sum, and in any case the sum is too small to affect seriously his firm, whoso fully paid capital is ,£350,000. He states that as cash is paid to the factories' banks before delivery of consignments, the incident, oven at the worst, cannot lessen the safety of tho company. • Their payments on sight drafts (before delivery) for' New Zealand butter in three years have totalled i 1,100,000, and the .£55,000 alleged to be at stake is, Mr. Turner states, only equal to their last year's profits and half their roserve"fund.
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Dominion, Volume 1, Issue 308, 22 September 1908, Page 7
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182EX=MINISTBR'S FRAUDS. Dominion, Volume 1, Issue 308, 22 September 1908, Page 7
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