FINANCIAL WORRIES.

New Zealand Herald, Volume LXIII, Issue 19447, 1 October 1926, Page 14

FINANCIAL WORRIES.

SUICIDE OF. STOCKBROKER.

AFFAIRS OF H. G. GARLAND

LARGE DEBIT IN ESTATE

Financial difficulties, were disclosed at the inquest yesterday into the death pi Haskell George do Forges' Garland, a young stockbroker, who was found shot in his office, Shortland Street, on the morning of September 14, with a service revolver in his. hand. The coroner, Mr. W. R. McKean, a verdict that death was due to a self-inflicted wound, adding that the evidence showed that deceased had financial worries.

Giving evidence of identification, Harold Lloyd Garland, a brother of deceased, said when he • /last saw, his brother, some days prior to his death, he was in his normal spirits. Witness had found in deceased's car a book, "Tales of Illusion," on the fly-leaf of which, in deceased's handwriting, was the following inscription"Hasscll Garland: To many I must be a disappointment, but to none more than myself. I do not know why I was not taken away in the war, instead of being left to bring misery to many as a result of my follies." I Leonard Lloyd Samuel Knight, public accountant, said ho had acted as accountant for Garland for three months prior to his death. He was called in to open a set of books so that Garland could keep a record of his stock transactions. "I found that there was absolutely no system," added witness. There was not even a cash book, and the only way in which Garland kept trace of his transactions was with the aid of his marvellously good memory. He had a better memory than the average man. Witness engaged a capable girl to assist in the office and from time to time he supervised their work. Large Overdraft at Bank.

Senior-Detective Hammond: Was there any ,reason at that stage for believing that deceased was insolvent ? Witness :■ No, other than that there was a large overdraft at the bank. That was guaranteed by a "friend of Mr. Garland. What was his position at the time ? There was no hope at that stage of giving any "account of his transactions. They were numerous and complicated, and .the only hope was to keep the books going until they reached a stage where the position Could*be made clear. Witness had. received a telephone message at 10 o'clock on the day of deceased's death to call at Garland's office. He went there and was shown the note Garland had left for a girl in the office' instructing her io see witness before going into his room. He found the door locked, and looking over a window at the top, he saw Garland lying on the floor dead. Witness sent ibo two girls to his own office, and summoned the police and the doctor. A typist employed in Garland's' office had told witness that on the day prior to the tragedy deceased left the office at nine o'clock in the morning. On hearing this witness suspected there was something amiss and at 4.30 in the afternoon he went with the deceased to his office to help him to find a balance that seemed to be worrying him. After working for about half-an-hour the hooks were balanced to the end of August. Books Eeveal Insolvency. Referring to accused's movements on that /lay, continued witness, the typist had informed him that Garland fold her in the morning he was going to Remuera and would be. back in an hour. Some gentlemen had come to keep an appointment with him at 11 o'clock and waited until noon, but Garland did not return. "Since his death T have been through' the books," said witness. "There is no doubt that deceased was insolvent at the time of his death. He must have had considerable financial worries, but whatever the trouble was he kept it entirely to himself. About a month prior to his death I had reason to believe certain transactions were, not recorded in the books. I cross-questioned him, brought out a trial balance, and told him to study it for 24 hours. He came back and said all the transactions; were shown in the books." The transactions not entered in the books were entered into prior to witness taking over the accounts. When witness questioned deceased about them, deceased refused- to .divulge anything. . Senior-Detective Hammond : You know one association placed £SOOO with deceased t,o invest in local body debentures ? . Witness: Yes. Garland used that to take the place of. Something he did not possess, jn .other words, he used it as capital. v Witness added that there was another amount of' £IOOO placed with deceased to invest in Government Inscribed Stock. " Pressing Him Tightly."

Senior-Detective Hammond: Yon know the association which had placed the amount of £SOOO with him was pressing him tightly ? Witness": I know now. We found notes on his office table. That was the immediate cause of the trouble? —That, and the £IOOO for investment in Government Inscribed" Stock and not so invested were the immediate cause. The bank was also pressing him to reduce his overdraft or lodge additional security against it. One guarantor ..was withdrawing his security. The balance taken since Garland's death showed that the estate was £3500 in debit, added witness. That did not include certain-, private liabilities and assets. Dr. Peter Moir said accused met his death as a result of a bullet wound in the right temple. Death was probftbly instantaneous. The coroner returned a verdict that death was caused by a bullet wound, selfinflicted. He added that it appeared from the evidence that deceased had some financial worries which caused him to take his life.