LOAN AND MERCANTILE.
THE EXAMINATION CONTINUED. Press Association.—Electric Telegraph.—Copyright. London, April 26. Mr. Moore, the auditor of .the Loan and Mercantile Agency Company, stated that he objected to the Waikato shares appearing in the balance-sheet under the heading of wool and produce advances. They required a separate heading. Mr. Paul, however, stated it was in accordance with the directors' wishes, and witness made no protest to the Board. He had often asked for information regarding the interest earned, but had always been refused. London, April 27. Mr. Moore, continuing his examination, said it would have been impossible to have sanctioned the earlier balancesheets had he been in possession of as full information as that obtained in 1893. The unproductive capital in 1891 stood at a million sterling, and he admitted that the balance-sheet of 1892 was not a fair statement. Mr. Paul stated that the increased losses on Aus l tralian property were due to rabbitfencing, and other improvements, and not to the non-payment of interest. Mr. Moore said he was not aware of the deficits.
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New Zealand Herald, Volume XXXI, Issue 9497, 28 April 1894, Page 5
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176LOAN AND MERCANTILE. New Zealand Herald, Volume XXXI, Issue 9497, 28 April 1894, Page 5
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