SALE OF BUILDING

Manawatu Standard, Volume LV, Issue 230, 27 August 1935, Page 2

SALE OF BUILDING

the McArthur group.

1 ■extraordinar y cablegrAM.’’

(United Press Association—By Electric Telegraph.—Copyright.) Received August 26, 1.50 p.m. SYDNEY, Aug. 26. AA’hcn the sale of the Trust building was mentioned in the Equity Court to-day. Mr Justice Long-lnnes rend what lie described us “a most extraordinary cablegram” he had received from Now Zealand.

The cablegram read: “Re the application concerning the Trust buiknng, formerly the property of the McArthur companies. The New Zealand deben-ture-holders desire an opportunity to be heard. They are against its sale at a low valuation.— Richmond, counsel lor the New Zealand Debenture-Hold-ers’ Committee.”

Mr Justice Long-lnnes said that if Mr Richmond were a barrister and had signed the cable he had been guilty of gross impropriety in addressing a Judge on matters of this sort. Mr Louat, who said he appeared for the McArthur Trust, and had received no instructions from New Zealand, stated that he understood the New Zealand Debenture-Holders’ Committee represented sevoral thousand people. He understood they intended opposing the sale of the building. Mr Justice Long-lnnes: This is an improper way of opposing it. It is, of course, contempt of Court. I cannot do anything to them, as they are out of my jurisdiction. Mr Justice Long-lnnes expressed the opinion that the New Zealand debenture-holders should brief counsel. Oil account of the illness of Mr Teece, K.C., who is representing the Public Trustee, the hearing has been adjourned for a week.