LOAN AND MERCANTILE AGENCY COMPANY.

Evening Post, Volume XLVII, Issue 82, 7 April 1894, Page 2

LOAN AND MERCANTILE AGENCY COMPANY.

MB. LARKWORTHY'S EVIDENCE. I UNITES PBK6B ASSOCIATION.! London, sth April. Continuing his evidence before Mr. Justice Williams, Mr. Falconer Larkworthy deBorihed certain statements made by the Hon. W. Shiels, of Victoria, in his speech at the London meeting, as grossly nntrue, and said Mr. Shiels was a friend of Mr. David Elder, the General Manager of the company in Australia. Tn reply to some severe questions put by tho Judge, the witness admitted that had Mr. Shiels known the true facts of tho case he would not have spoken as he did, and he also admitted that he himself had now confirmed statements oontained in Mr. Shiels' speech to whi h exception had been taken He said he did not consider it his duty to remonstrate at the time, Tn reply to another question, Mr. Larkworthy eaid he had also acquiesced in the balance-sheet at the same meeting, believing as he did that the reserves wonld cover the Melbourne deficit of .£480,000, which had not then been revealed. Counsel complained of the manner in which the witness gave his evidence, taking particnlar exception to his hesitanoy in answering and his inability to remember certain things. The Judge urged the witness to bo perfectly candid in giving hig evidence. | special. I I ONDOir, sth April. Mr. Larkworthy said his salary was increased in 1890. although his authority and duties diminiahod owing to the fact that Mr. Paul, the London manager, and Mr. Thomas Eußriell assumed more control. Personally he has dissented from this arrangement. In reply to a question, he raid he did not remember approving of a certificate depriving the debenture-holders of security.