“GIANTS OF FINANCE.”
LACKADAISICAL METHODS.
CENSURE FROM A JUDGE.
LONDON. Feb. 7.
The " lackadaisical methods of some giante of finance " were scathingly censured by Mr. Justice Coleridge when he ordered the Sperling Company, stockbrokers, to purchase 20s shares in the Baldwin Company at 60s a share, in accordance with an agreement.
It was a test action involving nearly 300,000 shares. The Sperling Company contended that they were only agents for a Northumberland shipbuilding company; also that the agreement depended on several unfulfilled conditions.
Mr. Justice Coleridge pointed out that in the absence of documents the witnesses' versions of conversations seemed contradictory. " Yet I have derived consolation from the fact that these giants of finance dwindled to very ordinary proportions and transacted business, involving millions in a most unbusinesslike way, trusting to memory alone," he remarked. " They vouch for ono another's unimpeachable character, yet give each other the polite lie." The witnesses included Sir Edward Edgar and Sir Charles Wright, and a number of leading financiers and .'.hipbuilders.
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New Zealand Herald, Volume LIX, Issue 18018, 17 February 1922, Page 5
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167“GIANTS OF FINANCE.” New Zealand Herald, Volume LIX, Issue 18018, 17 February 1922, Page 5
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