SCOPE OF COMMISSION

Nelson Evening Mail, Volume LXVI, 24 September 1934, Page 2

SCOPE OF COMMISSION

ADDITIONAL COMPANIES INCLUDED (United Press Association—By Electric Telegraph—Copyright) (Received 24th September, 1.20 p.m.) SYDNEY, This Day. The extension of the scope of the Cbmmission to include several additional companies which have already been frequently mentioned was announced by Mr Justice Halse-Rogers to-day. Mr Monahan said that while the connection of most of the additional companies with those already listed was fairly remote, most of them were connected with the £60,000 transaction with McArthur. The position to be determined was the financial condition of the companies at the time money began to filter through Sterling Company’s accounts for the preservation of thenassets.” NO IMPROPER METHODS USED OR CONTEMPLATED McARTHUR’S CABLE' SYDNEY, 22nd September. Mr McArthur has cabled Mr M. J. Savage mentioning that it is reported that Mr Savage nad denied that the Labour Party had endeavoured with the help of the Country Party to save Mr McArthur from the consequences of his actions. Mr McArthur’s cable continues: “I said that efforts had been made to induce political parties to move on behalf of trust companies to resist unjust attacks. I did riot say that those parties had helped the companies. I emphasised that no improper methods of approach to members of Parliament were either used or contemplated.” VALUATION OF BUILDING NOT YET PREPARED (Received 24th September, 1.40 p.m.) SYDNEY, This Day. The assertion that the move for the addition of new companies had been instigated by influences outside of . Australia was made by Dr. Louat, who said his clients maintained that the action was directed against McArthur personally, and he wished to inquire if the information divulged would be made available to the New Zealand Commission. The Commissioner intimated that as far as he knew such was not the case, and the additional companies would be investigated only as to their relations with those already listed. When Dr. Louat said that the market value of the “Daily Telegraph” building had not been prepared, the Commissioner expressed surprise, saying it was an astonishing thing that after live weeks the information was not available. “I do not think the Commission should be delayed. The whole, value of the British National Trust debentures depends on the value of this building.” In the interests of debenture holders, said Dr. Louat, he wished the Commissioner to discuss further questions of Valuations in his private chambers. Mr Monahan agreed, and the Commission adjourned to do this.