TOBACCO COMPANY
Examination Of Officials
(By Telegraph—Press Association.)
AUCKLAND, August 22.
The public examination of two directors of Loyal, Limited, concluded in the Supreme Court today when evidence given by Michael John Maher, former secretary and director, included a statement that in his opinion Owen’s tobacco formula produced a first-class quality of tobacco and was fully worth the £20,000 paid for it by the company. Maher said also that the valuations of stock in his balance-sheet had been made, by Mr. Low t , of the Government Horticultural Department, who was the only independent tobacco expert obtainable. Consequently, witness felt that the valuation was a true valuation. The evidence given in Court will be given consideration by the official assignee.
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Bibliographic details
Dominion, Volume 33, Issue 282, 23 August 1940, Page 3
Word Count
119TOBACCO COMPANY Dominion, Volume 33, Issue 282, 23 August 1940, Page 3
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