LOSS OF A FORTUNE
A DELAYED TELEGRAM The iiou-dolivciy ot' a telegram was stated at the Loudon Bankruptcy Court, lately-, to have been given us the cause of his failure by .Kenneth W. Konstam, a 'stockbroker. The official receiver said that Kenstam lead stated that in 1929 lie held' speculative shares on margin to the value of approximately £15,000. While abroad, he heard of the- Ha try cash and telegraphed to his bankers to sell every share he had on open accoun t. He was informed later by the post office that through sonic error his telegram had not been delivered-, and he was refunded Os Bd, the cost of the telegram. After Hatry/s arrest Konstam was 16ft with no margin, but a heavy depreciation on the shares, which were eventually sold at a loss of £IOOO. Konetam returned liabilities at £7OOO and assets afc £BS, apart from a reversion valued' at several hundred pounds.
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Bibliographic details
Hawera Star, Volume LII, 25 January 1933, Page 7
Word Count
155LOSS OF A FORTUNE Hawera Star, Volume LII, 25 January 1933, Page 7
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