BANKRUPT AUCTIONEER.

Manawatu Standard, Volume XLIV, Issue 1073, 21 July 1924, Page 5

BANKRUPT AUCTIONEER.

POLICE COURT CHARGE. COMMITTED FOR TRIAL. At the Police Court to-day before Messrs M. Cohen and J. A. MeLeavey, J.aP., Joseph Sutherland Munro, of Palmerston North, was charged that, within three years before tho commencement of his bankruptcy (December 5, 1923), he did fail to keep such books of account as are usual und proper in the business carried on by him, so as to sufficiently set forth his business transactions and disclose his tinuncial position, this being an indictable offence. Mr Cooke, Crown Prosecutor, conducted the case for the prosecution, and Mr G. I. McGregor appeared for the accused. Mr Cooke, at the outset, stated that accused was charged under section 137 (4) of the Bankruptcy Act. lie added that the accused could elect to be dealt with summarily if he so chose instead of going before a jury, but Mr McGregor objected to accused being dealt with summarily. George LI. Lang, registrar of the local court, gave evidence concerning the filing of accused’s bankruptcy petition m December last, and his public examination last month. Witness produced certain books which were used by accused when in business and which were exhibited at the public examination. Charles Edward Dempsy, deputy-official assignee, at Palmerston North, stated that lie was official assignee for the property in the bankrupt estate of accused. He hud received instructions from the Crown Prosecutor to take proceedings against accused, whose affairs witness had investigated. lie had found that accused had not kept proper books, but those produced had been kept up as far as they went. To Mr Cooke: It was impossible to ascertain from the books what accused’s' financial position was during the past three years. Tho hooks could hot have been balanced as there was nothing to balance. Accused had never given witness a bal-ance-sheet. The books which had been handed to witness by accused wero a credit book, in which he gave receipts to people bringing articles to the auction rooms, an account sales book, a consignment book and a book which witness understood accused had used as a ledger. To Mr Cooke: In a business such as the one which accused had conducted lie should have kept a trust cash book, a trust ledger, ordinary cash book and a journal and ledger. Those wero the ordinary books that accused should have kept. There was no trust account at the hank. Mr McGregor; Accused says he has a cash sales book. Have you got it7—l did not know he had it. Witness added that lie had not received such a book. Mr McGregor: Accused says he had a number of invoice books which aro not here. Mr Dempsy : Mr Munro (accused) has had the books backwards and forwards from my office making up his statements. I haven't the books you mention.

In reply to a further question, witness said that' all the books he had received from accused were in court. This concluded the cast) for the Crown. Mr McGregor did not call any evidence, and on being asked how lie pleaded accused entered a plea of net guilty. He was thereupon committed for trial at the forthcoming Supreme Court session ut Palmerston North. Bail was allowed accused in his own surety of £SO.