DISPUTE OVER AGENCY.

New Zealand Herald, Volume LXVII, Issue 20740, 6 December 1930, Page 9

DISPUTE OVER AGENCY.

£BOOO DAMAGES SOUGHT. HOPES FOR SETTLEMENT. " As far as I can see it will take ti? weeks to reach a settlement in this cas» by litigation," said Mr. Justice Smith in the Supreme Court yesterday during the hearing of a claim for over £BOOO damages, resulting from a dispute over tha ownership of the agency from, a German company for the sale of dentists' supplies in New Zealand and Australia. The plaintiff was Dentists Supplies • (Australasia), Limited (Mr. Richmond), who took action against Noah Cohen, of Auckland, importer (Mr. Thwaites). When - the hearing was on Thursday Mr. Richmond said a company had been formed to take over the agency in both Australia and New Zealand. This was done in May, 1929, but, relying on a clause in the agreement, defendant had retaken possession of the wliole of the assets of the company. Counsel claimed that that was not within his rights, and alleged fraudulent misrepresentation and deliberate breach of duty.

On Thursday afternoon the hearing was adjourned to enable the parties to confer with a view to settlement. However, this was not reached,, and the case was resumed yesterday.. The whole day was occupied in hearing the evidence of Thomas Stanley Milburn, sharebroker" who prepared the prospectus on which the Austraksian company was floated, and Royston N. S. Cnisholm, public accountant', who acted as secretary and trustee for the company. The witness Chisholm stated he had called on defendant, in company with Milburn, and defendant had told him-that his profits were £I2OO a year on a capital of £3OOO. ■ Some time later witness drew up a balance-sheet for a period of throw months, which showed that the business had made a loss of £390. Defendant said ■ this was ridiculous and that he was nNe to make a profit of 64 per cent, on sa.es. At a later meeting Cohen produced ncures for the same period showing a profit ot £IBO, but the figures were not satisfactory. Defendant finally produced balancesheets for preceding years. These showed . hiTp«vi«i y mentioned were" MM vofitf on line's net sold to the eonjpmy. Witness was cross-examined .at lengtn by Mr. Thwaites and dunng the cross- • • ,i:„„ tijc Honor intimated that it CXa, M n he far betfer if the case could be W ?rtA out of Court Before the adjourn--4