SALE OF LEASES

Manawatu Standard, Volume L, Issue 138, 10 May 1930, Page 9

SALE OF LEASES

QUEENSLAND GOVERNMENT COMMISSION OF INQUIRY. FORMER PREMIER INVOLVED. (United Frees Association—By Electric Telegraph—Copyright). Received May 10, 10.5 a.m. j BRISBANE, May 10. Evidence of Mr W. McCormack’s interest in mining ventures was given to-day at the Royal Commission, which is inquiring into the sale of the Mungana leases to the Quensland Government in 1921, at the time Mr McCormack was Premier. It is stated that the Government paid £40,000 for the leases, and that Mr McCormack held a considerable number of shares, indeed, far more than lie admitted owning. Duncan Mac Diarmid gave evidence that Mr McCormack had 388 shares allotted in his own name, while 2688 were transferred from Frederick Reid, who was interested in these leases, to Mr McCormack’s three sisters. Dividends amounting to £13,328 wero subsequently paid to Mr McCormack and his sisters. Receipts for money payable to his sister Mary “were obviously in Mr McCormack's handwriting.” Witness, who was formerly secretary of the Mungana Company, said that he had no reason for sheltering Mr McCormack. Cheques due to Mr McCormack’s sisters were probably sent “care of Mr McCormack, Premier’s office, Parliament House.”