GUM TRADE DISPUTE.

New Zealand Herald, Volume LXII, Issue 19142, 7 October 1925, Page 15

GUM TRADE DISPUTE.

STOREKEEPER AND BROKER. ALLEGED UNDER - PAYMENT. ACCOUNTANTS TO INQUIRE. Two parties of Yugoslavs engaged in the kauri gum trade 'we concerned in a civil case which came before Mr. Justice Herdman in the Supreme Court yesterday. Tony Milicich, storekeeper, Silverdaie /Mr. Towle) sued Mark Simich and M. Simich and Company, Ltd., gum brokers, Auckland—Simich's business having lately been put into the form of a company™ praying that accounts be taken of his business transactions with Simich between November, 1922, and May, 1925, and that; inquiry be made as to the prices obtained for gim sent to him for sale, or the value of unsold portion*, and the rates of interest paid upon money advances made. The defence filed was a general denial of certain allegations of improper dealings, and an assertion that defendant took over from plaintiff lires of gum at prices agreed upon, and had duly accounted to Milicich for the proceeds of sales and rendered account sales. Mr, Towle, in opening for plaintiff, said his client alleged that defendant had not properly accounted for moneys which he had received in respect of gum sold—that he bad accounted for the sales at Sower prices than he had actually realised. Nine separate instances of the kind were alleged. Plaintiff, therefore, asked that an account be taken of these dealings, and also as to alleged ove-rciiarges in regard to interest, brought about by delaying the posting'of credits to which he was entitled. It was averred that defendant had, in breach of his duty as agent, purchased on bis own account some of the gum forward c! to him, at less than the market price, 45s per cwt., as against a market value of 56s to 60s, -was alleged in one instance—and had also charged commission upon his own purchases, Mr. Prendergast, for defendant, objected to the application for accounts, stating that his client, in answer to interrogatories, had given full particulars of the transactions. The total amount of errors favourable to plaintiff was only £22 10s, and this would be partly balanced by errors favourable to defendant. After some argument Mr. Justice Herdman observed that the Court would be better able to deal with the whole matter if the transactions were first investigated by the registrar, or by an accountant. Finally it was agreed between counsel that the details of the transactions should be remitted to Messrs. Carlaw, Esam find Sprv for examination, and the case was adiourned pending the receipt of their report.