BUSINESS WITHOUT CAPITAL

Evening Star, Issue 19330, 17 August 1926, Page 2

BUSINESS WITHOUT CAPITAL

ACCOUNTANT'S FALL [Pee United Peess Association.) CHRISTCHURCH, August 16. Smartly dressed and neatly groomed, Cyril T. Aloaley entered the Supreme Court dock before Mr Justice Adams this morning cm seven charges of theft, to which he had pleaded guilty. He was sentenced to' two years’ reformative detention. “ The story of tho prisoner’s offence is a story of the difficulties into which a man gets if be undertakes a business enterprise with no capital,’’ said counsel, Mr W. R. Lascelles, in his final address to tho bench. “ He had proved himself more fool than knave, more stupid than vicious.” Counsel then supplied His Honor with a detailed account of the prisoner’s career. In 1914 his family record was a very fine one, indeed. ■ His brother, who enlisted—

- His Honor: Wc hardly need to go into til at. Counsel: No sir! But—

His Honor; In such cases as this there is no need to go into the war services of the relatives. On the return of Mosley’s brother, continued Mr Lascelles, he provided the ex-soldier with £250 to start him on the land. His venture proved a failure, so the money was lost to the brother, and to the prisoner also. Then another brother returned and prisoner assisted him to the extent of £l5O. This was also lost to him, and in 1920 ho found himself in the_ position of starting once again in business with no capital. His Honor: So ho then went into the employ of the company, and sums of money amounting to £1,500 disappear. Do you mean to say that it occurred because of the assistance the prisoner gave his brothers? Counsel described the prisoner's commencement- in business as a land agent in 1920, and his appointment to the position of secretary of Scafield, Ltd., in 1921. During that period most or his time and efforts were spent at Brooklands, where he was endeavoring to promote the growth of settlement. The firm of Murray, Mosley, and Shepherd, Ltd , was formed, and that year prisoner, together with tiro other more wealthy men, endeavored to shoulder Brooklands Golf Links. His finances became unduly straitened, and he was compelled to borrow under heavy rates of interest and under certain terms and conditions. The death-knell of the Brooklands settlement scheme, which the prisoner had attempted to promote, was sounded when the Waimaka/riri River Trust decided to adopt its second scheme, and the flags of tho new river course were put right through the heart of tho settlement. “ I have heard a great deal, and am glad to take into consideration anything in favor of the prisoner,” said His Honor, in passing sentence, “ hut the most important point we have heard the least about. That is that accused was an accountant, and in a professional capacity and fully realising the 'trust reposed in him by people who were helpless to protect their interests, ho took advantage of the position. The suggestion of probation cannot he’ entertained, as it would reduce the administration of the Probation Act to an absurdity. Differences must he made- in those cases ,and this one is certainly not a case for probation.”