MR: C. R. VALENTINE'S BANKRUPTCY.

New Zealand Herald, Volume XL, Issue 12269, 13 May 1903, Page 2 (Supplement)

MR: C. R. VALENTINE'S BANKRUPTCY.

(from orn own* correspondent.]

London, April 11. ! At the time when the American proprietors of Valentine's Meat Juice brought on action Against Mr. Chafes Richard Valentine, ex-Dairy Commissioner for the New Zealand Government, to restrain him from calling a meat extract, manufacture/ by him and known as "Valentine's Meat Extract," 1 sent you a full report of the proceedings. Mr. Valentine Most that action, and as a result went into bankruptcy. Those proceedings have had a startling sequel. At Bow-street Police Court, Mr. U. R. Valentine, described as of Wellington Chambers, London Bridge, the promoter of a meat juice company bearing his name, appeared before Mr. Marsham to an adjourned summons charging him with {ailing to disclose the whole of the cash in his hands when a receiving orderwas made against him on Slay 23, 1901, with intent to defraud.

Mr. Arthur Gill, who conducted the case on behalf of the Director of Public Prosecutions, said that since the last hearing it had been decided to proceed against the defendant, on the allegation of perjury in reference to statements he had made in the course of the bankruptcy proceedings. Mr. Charles Matthews appeared for the defendant.

Mr. James Fields Pearson, managingdirector of the firm of Messrs. Pearson and Rutter, butter merchants of Manchester, said that defendant, as a produce agent, had had extensive dealings with his firm. Witness denied having let defendant have £200 or any other sum in order that he might appeal in the House of Lords against a decision in the action brought against bun by the Valentine Meat Juice Company of America. Neither had he (witness) arranged that a cheque for £500 drawn by the defendant in favour of Messrs. Pearson and Rutter should not be paid to them. Mr. Egerton Spencer Grey, Official Receiver in Bankruptcy, was called to speak with regard to defendant's affairs in bankruptcy. "" Defendant had filed five statements concerning his affairs. According to the list his liabilities were £6849 10s, and his assets £5506. As a matter of fact the assets disclosed in the statement of affairs realised £122 19s lid. Witness, however, had realised £788 on property not disclosed, and he expected to recover a further sum of £300. His estimate of defendant's indebtedness was £11,428 17s Bd. Debtor handed over to witness his pass-book on the London and County Bank. That purported to show a payment to Messrs. Pearson on June 13 of £300, and on June 17 to Pearson of £200. At the private examination held on January 27 the debtor was examined in reference to a payment of £200 to the House of Lords as a deposit, on appeal. At the public examination held on January 28 he was examined in reference to the same subject. The statement made by debtor dealt with the payment to the House of Lords and also to the alleged payment of £300 to Messrs. Pearson and Rutter on the 14th. Mr. Pearson was examined privately in the bankruptcy on October 27, 1902. Witness recovered the balance of the £200 deposited at the House of Lords. He had recovered £151 2s 4d. Of the cash balance in hand, as shown by the petty cash book on May 23, the date of the receiving order, he had never received anything from debtor. He found upon the file an affidavit of debtor of February 4, 1902, verifying the notes of public examination taken prior to that date, also verifying a cash account filed January 19, 1902. There, was also upon the file an affidavit of June 10, signed by the defendant.

Cross-examined by Mr. C. Matthews : The defendant was employed between 1891 and 1895 by the New South Wales and New Zealand Governments as a produce inspector in this country. In 1895 he became produce manager to the Colonial Consignment and Distributing Company. In November, 1897, he registered a company called the Valentine Extract Company. That was a syndicate formed for the purpose of working a patent for putting up meat in a portable form. In Julv. 1898, he left the Colonial Consignment and Distributing Company and began to trade as a colonial produce agent in '.Beoleystreet. His trade relations with the Colonial Consignment and Distributing Company continued after he had left that company. In October, 1898, he was served with notice of application for an injunction at the suit of the Valentine Meat Juice Company of America, to restrain him from carrying on the sale of meat juice in. the name of Valentine, or of exploiting his patent. The application for an injunction was followed by proceedings in Chancery, and lasted from November, 1898, to November, 1899. After a lengthy trial of 11 days the application was dismissed, and the American company failed to obtain the injunction. It appealed. On July 23, 1900, the Court of Appeal reversed Mr. Justice Stirling's judgment, and granted the injunction with costs both of the appeal and of the Court below. The costs on taxation were roughly £2900. The taxation was on January 26, 1901. On February 11, 1901, the petition for a receiving order was made. There was an application by the British Dairv Produce Company. The amount of the debt was £960 14s Bd. The defendant was committed for trial.