THE N.Z.L. AND M.A. COMPANY.

Otago Daily Times, Issue 10035, 28 April 1894, Page 2

THE N.Z.L. AND M.A. COMPANY.

Press Association—By Telegraph—Copyright. London, April 2G.

Mr Moote, auditor of the Loan and Mercantile Company, stated in the examination before Judge Williams that he objected to VVnlkato shares appearing on the balance sheet under the heading of wool and produce advances. They required a separate he?.diag. Mr Paul, however, stated that it was in accordance with the directors' wishes, and witness made no protest to the board. He had often asked for information regarding the interest earned, but had been always refused.

April 27.

Mr Moore, auditor of the New Zsaland Loan and Mercantile Agency Company, continuing bis examination, said it would have been impossible to have sanctioned the earlier balance sheets had he bean in possession of the full information as obtained in 1893. Tho unproductive capital in 1881 stood at £1,000,000 sterling, andheadmitted that the balance sheet of 1892 was not a fair statement. . ,

Mr Paul stated that tha iocreasad losses on Australian property wera due to rabbit fencing aud other improvements, and not to the non-payment of interest. Mr Moore, he said, was not aware of tha deficits.