BUDGET INQUIRY

Evening Star, Issue 22343, 20 May 1936, Page 9

BUDGET INQUIRY

TAKING OF EVIDENCE CONCLUDED COUNSELS’ ADDRESSES HOW TO BE HEARD Press Association—By Telegraph—Copyright LONDON, May 19. (Received May 20, at 10 a.in.) At the Budget inquiry Kenneth Butt, recalled, admitted making a statement on April 24 to his employers containing a number of untruths, giving the impression that he had effected insurances for Mr Harrison, whose order was not limited to any specific amounts or rates. In reply to counsel’s question whether ho did not see anything serious in making and signing such an untrue statement, Butt replied, “ Yes. I went straight to father. I had not any motive except to prevent the firm knowing that father was the true owner of the insurances.’

Philip Ambrumenil, chairman of the firm employing Butt, gave evidence that he told Butt that he took a serious view of his action in effecting Budget insurances through other brokers without his knowledge or consent. He might have dismissed him, but he requested him to sign a statement which Butt considered privately before signing. He added; “ I had no idea that Butt’s father was concerned in the irisurances.”

Mr Justice Porter closely questioned Waterton in relation to his statement concerning Mr J. H. Thomas. Waterton explained that he thought Leslie Thomas was a friend of Davis. “It was not very ethical, but I connected the two and did it entirely on my own.” Mr 1 Justice Porter: Having done that, you went and told Marriott that the information was from a friend who had a friend who was Mr J. H. Thomas ? Waterton: Something to that effect. Dr Reginald Hearn gave evidence that Vergottis said he had means of getting hold of information from a member of Cabinet, and he mentioned Mr Thomas. Witness regarded it in the nature of gossip, not to bo taken p seriously. Mr Morris, for Mr Thomas, interposed: Vergottis is completely unknown to Mr Thomas. Mr Justice Porter said he was grateful to Mr Thomas for producing his private accounts, but would also like those with a bookmaker or anything of that kind. The hearing was adjourned. Counsels’ addresses will be heard tomorrow. [Reginald Marriott previously gave evidence that Waterton, a member of his firm" of stockbroker’s, told him that he had heard from a friend named Davis that the income tax was being increased by 3d, and added that Davis got the information. from a friend who was a great friend of Mr Thomas’s. Marriott instructed Waterton to place £75 insurance, promising him £IOO if it came off. Vergottis, a financier and ex-shipowner, said Waterton told him on April 20 about the income ta« rise as a rumour Waterton had heard from his solicitor. He obtained [insurance for £2,500 at 15gs per cent. He afterwards had a discussion with Mr Randolph Churchill, who regarded a rise of 3d as most unlikely, increases being invariably 6d.]