Refusal to Produce Balance Sheet

Northland Age, Volume XVIII, Issue 37, 11 February 1949, Page 1

Refusal to Produce Balance Sheet

At the close of yesterday’s proceedings of the No, 1 Transport Licensing Authority, there was a passage between the Authority, Mr. E. J. Phelan, and Mr. Frankham of the shipping company. Mr. Phelan considered that it was the duty of the sitting to peruse the contract between the Hokianga Dairy Co. and A. G. Frankham Ltd., made with reference to the transport of the Hokianga Dairy Company, “We’d like to see that contract, Mr. Frankham,” said Mr. Phelan. “Have you got it with you?” “I have not,” emphatically replied Mr. Frankham. “Will you produce it then,” asked

« Contract Also Wanted

the Authority. “I certainly will not.” “You certainly will. And what is more, I shall want to have produced here, a copy of your balance sheet, and a copy of your Profit and Loss account.” ; “I won’t produce those either,” stated Mr. Frankham with heat. “Well they’re what I want, and they are what I’m going to have,” said Mr. Phelan. “If they are not here forthwith, it means that I can only think the worst. It would be much better if you complied with this request.” The sitting was then adjotuned until 9.30 this morning. V