FALSE BALANCE-SHEET

Evening Post, Volume CXV, Issue 40, 17 February 1933, Page 8

FALSE BALANCE-SHEET

ALLEGED COMPANY C FRAUD

MEN BEFORE COURT

(Eeceived February 17, 2 p.m.)' .. STONBY, This Day.' ■ The affairs of. the Associated Doa*; inions Assurance Society,. Limited* we're involved in a case now before! the City Court. Oswald'Corkhill, 47g secretary, and William T. Page, 45j company director, were charged' with; having published a false balance-sheet relating to the assets of this coinpanyj with intent to defraud, shareholders.' The Police Prosecutor, Hr. Dovey^ said that the evidence would disclose that.-the. balaneersheet was prepared with craft and cunning' and that th« liabilities amounted to nearly £336,000^ of which £100,000 was cancelled. It was practically a one-man company run, by Page, with Corkhill as a. tool ia his hands, Page providing himself witli a salary of £2400 a year. It was' im- - possible to remove him while he helct 20,000 shares. The other directors werei more br less dummies. The companyjwhich was purely of the mushroom!, type, had been utterly insolvent for some time past. A feverish attempt was made last September to acquire) another company in order that its funds might be used to bolster up Page's company, but the attempt failed. The case was adjourned. Mattsson Brain, .46, company diree* tor, and Sydney Smith, 42, clerk, wer» charged with having conspired wita CorkhUl ana Page to defraud th« shareholders and policyholders of th"« Commonwealth Life Amalgamated A» surance Association, Limited, of largH sums of money. They were remandel on bail until March 7.