YACHT MOREWA SAILS.

Horowhenua Chronicle, 20 April 1935, Page 7

YACHT MOREWA SAILS.

BRISBANE STATED DESTINATION mcarthur inquiry recalled. (By Telegraph—Press Association). AUCKLAND, Last Night. A departure for Australia was made to-day by the auxiliary yacht Morewa, t , which figures largely in the reports of the recent inquiries into the McArthur .group of companies. The yacht left its moorings bound for Brisbane. She was previously cleared by the Customs Department. The Morewa is commanded by Mr M. V. Bates, of Auckland, who has with him a crew of six young men, including T. R. McArthur, a son of J. W. S. McArthur, in whose name 4he vessel was registered until recently. The members of the crew are; M. Woolhouse, A. L. Beatty, A. Williams, L. Orange and E. S. Adams. Prior to the yacht's departure, Mr Bates said it was not known how long the vessel would be away or whether she would return to Auckland. It was stated that the yacht was not the property of the National Investment Company of Queensland. According to Mr Bates, the passage to Brisbane should take seven days. It was gathered that the voyage is to be made direct, without any stop at Norfolk Island or Lord Howe Island, ■Sufficient oil fuel has been taken to •enable the auxiliary engine to be used if the wind fails or in case of any other emergency, but the proposal is to make the whole voyage under sail. The members of the crew are mostly young men with considerable experience of .yachting.-

Debenture-holders Favour Liquidation ' RESOLUTIONS AT CHRISTCHURCH CHRISTCHURCH, Last Night. Resolutions favouring the liquidation of the Investment Executive Trust of New Zealand, Ltd., were carried at a meeting of 23 debentureholders in Christchurch on Thursday •evening. The meeting also decided to thank the Government and Hon. J. G. Coates (Minister for Finance) for the prompt action taken over the affairs •of the trust. The resolutions carried were:— That in the face of the disclosures in the New South Wales Commission’s reports and the reports of the New Zealand inspectors, this meeting of Christchurch debenture-holders in the Investment Executive Trust is emphatically in favour of the inspectors’ recommendation for liquidation with the Public Trustee, and this meeting recommends that an advisory board of two or three ■debenture-holders be appointed by the •Government to act in conjunction with the Public Trustee. That a vote of thanks be accorded to the Government and especially to Mr .Coates for the prompt action taken. \

That in the event x)f the Government ■deciding to appoint two or three deben-ture-holders to act with the Public Trustee, this meeting recommends that Mr J. D. Eenton be appointed.