HATRY’S GREAT CRASH

Lake Wakatip Mail, Issue 3969, 7 October 1930, Page 7

HATRY’S GREAT CRASH

COMPANY’S VAST LOSSES £500,000 IN ONE FAMILY. j Sir Arthur du Crow, Bt., revealed in ; London recently that lie and his family i lost nearly half a million pounds in the Hairy crash. He was presiding ! at the annual meeting of the Parent ! Trust and Finance Company, Limited. I So confident were the directors in the ; enterprise which the company entered j into with Hairy, said Sir Arthur, and so hopeful were they that the return i would he commensurate with the capI ital involved, that they became interested to the extent of £600,000. I “Of that sum,” said Sir Arthur, • “ upwards of, £500,000 represented the ' money and securities of ray own family. ! the major part of which has been lost.” | The company’s total losses owing to the I Hairy frauds amounted to £3,099,000. 1 Sir Arthur said that Hairy was_ so I clever in covering up his real position j that one of the hauling- hanks issued | file following reference only a week j before the crash “ Well-known city ' financier. At present engaged in big i steel, combine. Backed by first-class j people, and wo think he should be i good for his engagements.” j Speaking with considerable emotion, I Sir Arthur said:—“ Tome personally and my family the disaster which this j skilful* and daring fraud has brought j on the company is a matter ol which i 1 can scarcely trust myself to speak.”