"COOKED" BALANCESHEET.
Startling Revelations. United Press Association By Electrics-Telegraph—Copyright. (Received July 28, 4.53 p.m.) London, July 27. Mr Barnes, official receiver, has made startling revelations In connection with the London and Globe' Finance Corporation. He says that it was the practice to hand shares to the British-American Corporation, with a view to covering indebtedness prior to the publication of the balancesheet in December last, instancing the transfer of 200,000 of the Westleroi Mining Company's shares at par, ex dividend, The Westleroi Company had five undeveloped claims, costing 38,000 dollars, and representing issues of capital to the extent of £437,000. Secondly, the London and Globe Corporation paid the British--American Corporation £200,000 by giving half interest on five claims, which cost 35,000 dollars. Mr Barnes has been invited to liquidate the London and Globe Corporation, in conjunction with a committee of inspection. The Westleroi is an American Company, registered in 1898. tp purchase from the British-American Corporation 12 claims in the Kootenay district.
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Bibliographic details
Daily Telegraph (Napier), Issue 9299, 29 July 1901, Page 2
Word Count
161"COOKED" BALANCESHEET. Daily Telegraph (Napier), Issue 9299, 29 July 1901, Page 2
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