THE ALBERTI FRAUDS.

Dominion, Volume 2, Issue 336, 24 October 1908, Page 3

THE ALBERTI FRAUDS.

'~ WILLER AND RILEY'S. OUTPUT. < FAREWELL. ST ATEMENT.BJLMR. - TURNER." ' Mr.. S.. Turner, 'representative' for Messrs. AViller and Riley, the English produce'firm which has gone into liquidation owing to losses sustained by the Alberfci frauds in Denmark, left for Sydney,-on route to . England yesterday. . Before leaving, Mr. .Turner asked us to publish the following statement' (in which he points out the contradictory character of the cable messages, received from England, which he thinks might teiid to injure the gooa name of the firm ho has been associated with as director and buyer):— "My co-directors have confirmed my action in rescinding agreements for-4500 tons of butter and cheese at the request of tho factories interested.■ -They'cabled trie'to hold consignments; consignors • did not run any risk. I tried toehold them,: but the press messages made the suppliers force the hands of some of the directors, so there was nothing for it but to do the correct tiling' and make an honourable settlement. My co-directors 'hope the factory, directors will'give us credit that they have not lost a single penny by us.' ' • - "Now, about the cable messages which have, been the cause of their action. That of September .19 stated —'AViller and .Riley, Ltd., have lost £55,000, etc.' This message was contradicted on September 24,'. when it was stated 'Wilier and, Riley's supposed losses were recoverable from fifty-two butter factories, £5000 each, and afterwards the individual farmers.' My statement that my company had: hot lost any money was iherefore proved correct. _ ' • • , "The second incorrect message was that of October &—'The.directors reluctantly came to the conclusion that it was. imperative to liquidate,' which was contradicted on October 39, when-another press message _ stated— 'Provisional liquidator was appointed by creditors.' -Which of these two messages was correct?. My- cablo from the firm of October 15 stated—'Liquidator will be appointed Tuesday, 20th.! This 'is confirmed by tho press message published to-day (October 22) as follows: —.'The'shareholders have'decided to wind up the company. Tho directors are preparing a scheme of' reconstruction.' This seems to confirm my people's cable to mo that 'a liquidator would bo appointed Tuesday 20th.' /It therefore proves the Press Association message, October 19, to the feffect that 'the creditors had appointed a provisional liquidator.' I cabled oil October 21. telling them of the.October 19 message, and their telegram, October 15, contradicting that, and asked them what was the true position on October 15. It-is very clear to see that there aro serious mistakes in the cables, and it does not make these" mistakes justifiable, simply because our company has gono into liquidation. My cables .published in the press as contradictions havo been ' proved correct by subsequent The situation has evidently been growing more serious during tho last month, arid my peo-. ple's cablo of September 22, stating'we were, stronger than last year (which I published September .25, to contradict the Press Association messages) was ovidontly our ■ correct position at that time. "I have relied upon my cables from my co-directors, whom I have worked with and trusted for .nineteen years, and I have yet to learn that they have withheld any information from me. That is the reason why I have contradicted the press messages when they were not according to my cables, and my contradictions have been proved correct by tho - Press Association cables themsolves. I very much regret the unpleasantness and worry' caused to suppliers and directors in New . Zealand by this matter. I thank them for the confidence placed in my company and myself in giving me outputs in New. Zealand during 1 my four visits of over 15,000 tons, £1,500,000 worth of butter and cheese on consignment, and although wo have lost 4500 tons of consignments during this last week I have still plenty to be grateful for. New Zealand has left me better off than when it I have still plenty to be grateful for. New Zealand better off than when I first saw tho Dominion. I shall always remember tho overwhelming true manly sympathy which has been given to me by the directors, competitors, and others during this, my most trying experience, and some of my most ploasant recollections will be of the genuino men I have met,in 'God's own country.'— Yours sincerely, Wilier and Riloy, Ltd. (S. j Turner, director)."