QUARTERLY DIVIDENDS, LTD.

Otago Daily Times, Issue 20867, 6 November 1929, Page 8

QUARTERLY DIVIDENDS, LTD.

CHARGE AGAINST SECRETARY. COMMUTED FOR TRIAL (Special to Dailt Times.) INVERCARGILL, November 5, The reserved decision of Mr W. H. Woodward, S.M., in the case in which David Neilson Johnston appeared on six charges of false pretences in respect to the operation of Quarterly Dividends, Ltd., and Nationaf House Purchase, Ltd,, was given to-day. The accused was committed for trial'on all the charges. Mr G. J. Reed, in the absence of Mr White (Dunedin), appeared on behalf of the accused, and Mr H. J. M'Alister represented the police. In reply to the clerk of the court, the accused, from the dock, said he had nothing tpisay., •“■I propose to commit the accused for trial on all the charges,” said his Worship. “ I was addressed at considerable length for and against dismissing the charges, but I do not think in committing the accused that I should traverse what was said. ; .The case will be tried presumably by a local jury, and I think it fairer to make no comments on the facts at this stage. I confine myself to the only point of law—whether there was the essential element of false pretence, viz., a statement of pretendence of existing fact as distinct from a promise or exaggerated commendation. It appears there was such ,’a statement. The _ accused made representations concerning the operations of the two companies, Quarterly Dividends, Ltd., and National House Purchase, Ltd., and the process by which dividends are produced by the operations. The .false pretence consists in the representation that the operations are capable of continuing in the i future for any considerable period to produce the substantial benefits to contributors which the 1 accused promised.”

The accused pleaded not guilty and reserved his defence. Bail was allowed, self in £2OO and two sureties of £IOO each.