THE NEW ZEALAND LOAN AND MERCANTILE.
MR PAUL'S EXAMINATION. [united press association.] London, April 7. In his examination before Mr Justice Williams, Mr Paul, the London Manager of > the New Zealand Loan and Merc m tile Agenoy Company, virtually admitted there was nething m the new form of debentures to notify hollers of a change. The Board, he said, was well aware there was no special security while the Company was negotiating with Baron Sohroeder. The Company issued a considerable quantity of debentures on the old basis. In leply to the Jndge, Mr Panl said he was unable to explain why, at the time of the Bohroeder issue, the direotors failed to clearly indicate that old holders were aot aeoured. He said Mr Larkworthy's report had been postponed m deference to the wishes of Mr Thomas Russell, and it bad not been investigated. He added that Mr Barker m 1892 reported a deficit of £690,000. The Board bad aot disonssed the propriety of specific mention being made m the report of 1892-1893, of the Company's holding £393,000 worth of debentures of the New Zealand Land Association.
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Bibliographic details
Marlborough Express, Volume XXX, Issue 82, 9 April 1894, Page 2
Word Count
186THE NEW ZEALAND LOAN AND MERCANTILE. Marlborough Express, Volume XXX, Issue 82, 9 April 1894, Page 2
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