Mr Ward's Examination.
[By Telegraph.] (Per Press Association.) Dunedin. This day. Mr Ward's examination was resumed to-day. Mr Solomon produced the list of drafts referred to yesterday and said he would detail them later on, and also that he would give details with Mr Ward's deficiency of £67,000 tomorrow if convenient to Mr Ward. Mr Ward said he considered the shareholders and the public were aware of the state of the Association's accounts and indebtedness to the Bank. He admitted that the balance-sheet and report did not disclose the true relations of the Bank and the Association. Referring to the 1894 balancesheets he was away from Invercargill when they were drawn up, and he had no opportunity of consulting his creditors. No one except himself knew of the true relations of the Association and the Bank. Coming to the grain account he affirmed that he w r ould have all the risk and the Associatoin all the profit. At the end of 1893 he paid a loss of nearly £7000.' He did not know of any other loss debited to him.
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Bibliographic details
Hastings Standard, Issue 374, 16 July 1897, Page 2
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181Mr Ward's Examination. Hastings Standard, Issue 374, 16 July 1897, Page 2
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