NEW ZEALAND NEWS

Dominion, Volume 7, Issue 2164, 1 June 1914, Page 3

NEW ZEALAND NEWS

; A LOAN TRANSACTION . SOME CRITICISM HV A JUDGE. ®F TtfleErswh,—Vnae Association.i Auckland, Mas- 30. Judgment was given. !>v Mr, Justice Stringer in the Supreme Court in a olaim by William Ballon against a- company e;h.W Manures Limited, and its directors, for the return of jct>Ss, which amonßt was lit'filiy miiif-v;,! j 0 aUc-geil to have bisc-n invested in the company ns oil mlolnjcnt on application of meney ift respect of 2500 shares, 'flic defence was that tho money paid over by Saltan was a lean to Tyre-m-sin, the main promoter ol ills ilo-tation of the company. JJvklenee wag given by Alfred Taylor, J. S. Disk* soil, ALP,, James Culpan, and John.Eciun-trc-e, directors, who each admitted having accepted SO shares in the company far milling, getting the assurance that they would have no responsibility whatovei', 3J-r. Dickson said he ceii-sented after declining three or four times, and after Signing tho prospectus -he heard nothing further about the company. He was -electi&neei'ing. The Judge said the plaintiff had failed to prove that the 4509 was j)ai«l to some person with authority to receive it on bahalf iif the. prospective company, Moreover, he ttemght there eonld be iw question that, tho transaction w«.« a. loan !>y DaJion tp Tyrema-in., and made untler BU«h coiiditioxis that, tho plaintiff would k»o» the money would not get into the eotfers of the essmpany. His Honour added with reference to tha -application for shales that the transaction had merely been engineered by an agent, lltighfts, in order th get his own commission. Atth-Qiigh it was graved that tho directors had Sot been guiity of misconduct or negligence, it seenied to him that when gentlemen, appa,reiitly o ; f business ftxporieriecs lent their nann* to a prospectus and signed doewneftts might mislead the public, they were guilty of grave miseoitiluct from tho public point of view. Judgment was entered far defendants, CO NT R ACTORS' CRiEVft NO E. Dunedin, May 31, A deputation representing tho caiitractors and builders of Dunediil waited on tho Prime Minister yesterday, and asked that they bo iiliiced on the same footing ns coal merchants in respect of deaiurrnHG. At preseat, it appears, coal morclmnts arc ailowed two days in which to clear coal from trucks while building contractors handling sand and gravel have to clear their goods ill oho day, or pay a charge of 10s. a. day, of, ■hi the further alternative, pay tho. cost of discharge if tho railway authorities uneiertakft it, A further and more seri* ous "grievance was that a.t present coal jncrcliauts pay a fiswd rate on the actual coal brought for them, while eontractors, who may bring in four tons of sand or gravel on a sis-ton truck have to paj' rates on sis toft?, the oonditiQH obtaining only in Ihmcdiii, Tho Prime Minister expressed his sympathy and his belief that Dmsedm eemtraefcors would- bo 'put on the Fame ; footing as those in other parts of Now ■ Zealand,

CHINESE AND OP!UP/Ji CUrlstoiiuroh, May 31. Ah Mow was, fiftod £30, with costs., for having opium illegally in his possession,