INDUCEMENT TO FRAUD.

New Zealand Herald, Volume XX, Issue 6749, 5 July 1883, Page 3

INDUCEMENT TO FRAUD.

TO THE EDITOR.

Sir, —Cullen's insolvency brings out in a specially marked manner the facility of credit in our community by an adept in the art of plausible representation. This is a case of a clever man of business, a shrewd careful buyer, starting with a capital, on his own showing, indefinite; and after some fifteen months of business in Queen-street, during which he accumulates a bills payable and open account liability of some £4500, with no ostensible reason for failure, calls his creditors together, does not attend the meeting, but semis his son, who states his father kept no books and cannot account for the serious deficiency in his affairs, and yet a meeting of Auckland merchants calmly accept the inevitable, sbrug their shoulders as " too bad," and quietly put the estate into trusteeship without stagmattzUg the commercial conduct of the debtor in the way it deserves. How can men, paying 20a in the £, contend with traders who only pay 6s Sd, and who in a month open up with as big a show us ever ? Unless some stand is made by the wholesale traders, who are the men responsible in this city for allowing such transactions : to succeed, the inducement to loose business if not successful fraud, is great, and we may expect to see a repetition of the above by others, some perhaps in self-defence, thnt will destroy the commercial reputation of our city.—lam, &c, L. D. Nathax,

thority that Messi-a. Shaw, Savill, and Albion Co. have countermanded their orders for the Iraildiag of. steamships to do the direct service between London and New Zealand ports." We can only say that On the 13th of, last month they hiid so such intention, lot they then wired oat that not only had they contracted with Messrs. Peter Denny and Co. for the steamers in question, bnt that the first one would bo ready in March next Requesting yon to contradict the report in. to-morrow's paper,—We are,"&c , CfiUICXSHANK AND Co. Auckland, July 4, 1883.

: [With reference to this, we can only state that when the mail left London, Messrs. Shaw, Savill, and Albion Co. had decided to give up the idea of running steam vessels ta New Zealand, as the letter from which we quoted came from out of their office. It ta evident that they were aware of the information that had been sent by mail, and this caused them to send the telegram referred to by Messrs. Cruickshank and Co. We are glad to learn that Messrs. Shaw, Savill, and Albion Co. have reversed their order, and decided finally to enter into the direct steam service to New Zealand.—Ed.]