BANKRUPT'S PLEA

New Zealand Herald, Volume LXXIV, Issue 22777, 10 July 1937, Page 27

BANKRUPT'S PLEA

FORMER £7OOO A YEAH JLLF.GAL MEAT MARKING DISMISSAL FDR ACQUIESCENCE [from our own correspondent] LONDON, Jnrio 19 The illegal marking of meat was discussed when William Henry Swain, a former business executive, was examined in bankruptcy recently at Kingston, Surrey. Until April, 19:15, ho told Mr. C. Roy Waterer, the Official Receiver, he was general manager for Wests (Butchers), Limited. His statement of affairs showed gross liabilities of >£9536. He stated that ho had now ohtaincd work at £3 a week. "I was summarily dismissed because I acquiesced in the illegal marking of meat." said bankrupt. "It was claimed that I caused foreign meat to be marked as Empire. "I was employed by Wests for 16 rears, and was appointed general manager in 3P27 at £ISOO a year, plus 10 per cent* of any of the company's profits over £25.000. In 1930 my salary was increased to £2OOO a year, and I understood that was to bo tax free. jVt one time, five or six years ago, mr income was between £7OOO and £SOOO a year. That lasted for about two years." Mr. Waterer: When Wests became n public company did you get a new agreement ? "Bankrupt:' Yes, £2750 a year, plus 10 per cent of profits over £30,000 on a five years' contract. That lasted roughly six months. Then T was dismissed. .Why did you acquiesce in this illegal marking of meat? —I thought tho company would benefit. I still do not agree that it was wrong. What about the public? They were being deceived? —Deceived, probably. They ,had a superior quality meat. You brought an action against tho company over your dismissal, lost it, and then appealed and lost that also ? Yes.

Mr. Swain, dealing with his expenditure, said ho had "a biggish estate, of which I disposed when this trouble came about.- I also trained and bred racehorses. About seven years ago I had some heavy losses on the Stock Exchange." Mr. Waterer: I see there is a £SO tailor's bill,; which has been owing since 1932. Why wasn't that paid 5 I always had two years' credit at my tailor's. I don't think that is unusual in the West End. To what do you attribute vour insolvency?—My summary dismissal by Wests. The examination was adjourned.