BOWRON COMPANY'S SHARKS

New Zealand Herald, Volume LII, Issue 15885, 5 April 1915, Page 4

BOWRON COMPANY'S SHARKS

DIRECTORS CRITICISED.

By Teleer»ph—Press Association— Copyright.

Sydney, April 3. Mr. Tii.ley, representing 20.000 shares in the Bowron Bros. Export Trading Co., Ltd., said that no doubt a great deal of the trouble in connection with the company's shares occurred through want of care on the part of the directors. He thought it might be advisable, in the event or » reconstruction, to alter the name of the company altogether. If they were not prepared to subscribe more capital liquidation would follow, and the NewZealand people, knowing the value of the business, would buy in.

At the annual meeting of the company Mr. Alexander Jobson, one of the directors, who presided, stated that lie desired to obtain an expression of opinion on the question of instituting criminal proceedings against J. Earle Hermann respecting allegedly fraudulent dealings in the company's shares. Hermann admitted issuing shares irregularly, but pleaded that he was not in a proper state of mind. He (Mr. Jobson) had obtained a distinguished counsel's opinion, who held that perhaps half the fraudulent scrip certificates. representing 60.000 # shares, would be held good, as against the company, and it. was likely that many of the holders of the other half would fight the case. Tho meeting decided that the directors be asked to prosecute Hermann if his appeal I from his recent sentence proved successful.