LEASES IN QUEENSLAND

Otago Daily Times, Issue 21022, 10 May 1930, Page 13

LEASES IN QUEENSLAND

SALE TO THE GOVERNMENT. EVIDENCE AT INQUIRY. (United Press Association.) (By Eleotrlo Telegraph—Copyright.) BRISBANE, May 9. (Received May 9, at 11 p.m.) Evidence of Mr W. M'Cormack’s interest in mining ventures was given today at the Royal Commission which is inquiring into the sale of the Mungana leases to the Queensland Government in 1921, at the time that Mr M'Cormack was Premier. It was stated that the Government paid £40,000 for the leases and that Mr M'Cormack held a considerable number of shares; indeed, far more than he admitted owning. Duncan ‘ Mac Diarmid, who was formerly secretary of the Mungana Company, gave evidence that Mr M'Cormack had 388 shares allotted in his own name, while 2688 were transferred from Frederick Reid, who 'was interested in these leases, to Mr M'Cormack’s three sisters. Dividends amounting to £13,328 were subsequently paid to Mr M'Cormack and his sisters. The receipts for money payable to his sister Mary .“were obviously in Mr M'Cormack'a handwriting.” witness said he had no reason lor sheltering Mr M'Cormack. Cheques due to Mr M'Cormack’s sisters were probably sent “care of Mr M'Cormack, Premier’s office, Parliament House.”