LOAN AND MERCANTILE AGENCY COMPANY.

Evening Post, Volume XLVII, Issue 85, 11 April 1894, Page 2

LOAN AND MERCANTILE AGENCY COMPANY.

MR. MUNDELLA INDIGNANT. AN INVESTMENT CONDEMNED BY THE COURT. I UNITIiM PKKSS ASSOCIATION. I London, 10th April. Tho Hon. A. J. Mundella, who gave evidence as to the New Zealand Loan and Mercantile Agency Company, denied that he as a director was aware that the prospoctusoa regarding the security of the debentures were ruis'odding. lie thought them only ambiguous. He condemned tho Colonial Hoard's greediness forbnsiuoFsar.d overtrading up to tho hilt, against which he had protested. The suggestion that he woe guilty of a policy of concealment was a gross injustice, but ho had thought it would be injurious to inform the shareholders of Mr. Larkwortby's report without confirmation. Mr. Paul, ho said, never mentioned the company's holdings of Waikato lnndß in connection with tho balance-sheet of 1891. Mr. Justice Williams described tbe company's transactions in Waikato lands as unjustifiable as an investment. Latest. I UNITED PPKBB ASSOCIATION. | (Reoeived April 11, 11 a.m.) London, 10th April. Judge Williani3 intimated that he must see the financial statement on which the reconstruction scheme of tbe compauy was based before ho decided to sanction or reject the scheme. A reprebontative of the Creditors' Committee stutod that the scheme wm based on the report furnished U> the Oilicial Receiver by Messrs Turquund, Youngs, <fc Company, and it is their figuroa that his Honour wishes to seo. '1 lie Creditors' Committee meet to-day to consider the effect tho evidence elicited by Judge Williams' examination will have on tho schemo as at presont drawn up. Sir James Fergussou ia now in the witness-box.