THE WAKING TAYIOR PROSECU. TIONS.

Otago Daily Times, Issue 7158, 24 January 1885, Page 2

THE WAKING TAYIOR PROSECU. TIONS.

(Peb United Pbess Association.)

Wellington, January 23.

At tho Supreme Court to-day Wm. Waring Taylor was indicted under the Larceny Aot on a chargo of having converted to hiß own • uss, with intent to defraud, the sum of £800, whioh had been enttusted to him by James May for investment on first-class security on the 10th September 1881.— Mr Jollicoe briefly opened the case, and said Mr May, since deceased, wrote to the prisoner from England, empowering him to draw a dividend from certain' Bank of New Zealand shares and invest it in firstdasß security, but instead of doing so he paid the money away in satisfao'ion of a debt to Mr Lloyd, of Birmingham.— 0, W. Kane, agent for the Bank of New Zealand at Kaiapoi, said in September 1881 ha was employed at the Wellington branch of the Bank. At that time prisoner drew £700 on account of the September dividend for investment on account of Mr May.—W. H. Lovin, merchant, of Wellington, said that in 1881 he was acting for Mr Lloyd, of Birmingham. Prisoner nad paid him sums of money from time to time until ha had liquidated his debt to Mr Lloyd. On the 10th ot September of tbe year named, after bank hours, prisoner paid witness £1000 in reduction of that debt. The sum waa made up of a cheque for £300 and £700 in notes. This closed the case for the prosecution. Mr Shaw, for tha defence, asked bis Honor to rule that the case was not withm tha statute upon the evidonoa rb to direction in charging the prisoner how to apply money. Mr May was never in possession of thiß money, and therefore how could he be said to have entrusted it to prisoner ? Where a man received money from a third parson for investment and misappropriated it he could not be proceeded against undor the present section of the Larceny Act, whatever might be the case with regard to any other seotion. His Honor ruled that tha case must go to the jury. Mr Shaw a6ked Mb Honor to direct the jury that, pursuant to the direction of Mr May to prisoner to invest the money in first class security, it was open to the prisoner to invest it in his own name and business. . His Honor said he should of course tell the jury that first class securities were within prisoner's own discretion.

No evidence was adduced for the defence. After a short absence the jury returned a verdict of "Guilty," and accused was remanded till to-morrow for sentence, bail being refused.