ENDOWMENT FUND
DISAPPEARANCE OF MONEY.
THEFTS AND BAD INVEST-
MENTS.
ARREST IN UNITED STATES,
(United Press Association.—By Electric
Telegraph Copy ri glit.) Received August 26, 10.55 a.m. WINNIPEG (Manitoba), Aug. 25. It is learned to-day, after several days investigation, that the University of Manitoba’s endowment trust fund, which was recently officially reported to amount to 1,600,000 dollars, n°w amounts to approximately 100,000 dollarSi through thefts totalling 840,000 dollars and bad investments. John A. Machray, K.C., a prominent lawyer, chairman of the Board of Governors and bursar of the univeraity, has been arrested and specifically charged with the theft of 47,000 dollars. Owing to his ill-health the case Iras been remanded until September 1. He was released on 50,000 dollars bail. Machray has long been connected with educational and religious affairs in the province.
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Bibliographic details
Manawatu Standard, Volume LII, Issue 228, 26 August 1932, Page 7
Word Count
133ENDOWMENT FUND Manawatu Standard, Volume LII, Issue 228, 26 August 1932, Page 7
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