THE LOAN AND MERCANTILE.
MR LARKWORTHY'S EXAMINATION [UKITED rRES3 A33OCIATION.] Received April 0, noon. London, April 5. In hia examination before Mr Justice Williams, concerning the Now Zealand Loan and Mercantile Agency, Mr Falconer Larkworthy said that m 1890 ho reported that there were further df (ici<!9, and that reserves were exhausted, but the Board took no notioe of the matter. Losses amounting to £318,000 appeared on the balance sheet as an asset, and a statement of profits presented m 1839 included interest on that Bum, although it had not been paid. He added that only the Right Hon. A J. Mundellt, one of the directors, supported him m proposing that an independent inspector should be employed to inspect the Company's properties and report direct to the London Board.
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Bibliographic details
Marlborough Express, Volume XXX, Issue 80, 6 April 1894, Page 2
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129THE LOAN AND MERCANTILE. Marlborough Express, Volume XXX, Issue 80, 6 April 1894, Page 2
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