HATRY'S GREAT CRASH.

New Zealand Herald, Volume LXVII, Issue 20668, 13 September 1930, Page 11

HATRY'S GREAT CRASH.

COMPANY'S VAST LOSSES.

£500,000 IN ONE FAMILY,

Sir Arthur du Cros, Bt., revealed in London recently that he and his family lost nearly half a million pounds in the Hatry crash. He was presiding at the annual meeting of the Parent Trust and Finance Company, Limited.

So confident were the directors in the enterprise which the company entered into with Hatry, said Sir Arthur, and so hopeful were they that the return would be commensurate with the capital involved, that they became interested to the extent of £600,000. "Of that sum." said Sir Arthur, "upwards of £500,000 represented the money and securities of inv own family, the major part of which has been lost." The company's total losses owing to the Hatr.y frauds amounted to £3;099,000. Sir Arthur said that Hatry was so clover in covering up his real position that one of the leading banks issued the following reference only a week before the crash:— "Well-known city financier, At present engaged in big steel combine. Backed by first-class people, and wo think he be good for his engagements." Speaking with considerable emotion, Sir Arthur said:—"To mo personally and my family the disaster which this skilful and daring fraud has brought on the company is a matter of which I can scarcely trust myself to speak."