TRUST FOND SHORTAGES
UNIVERSITY OF MANITOBA CHAIRMAN OF BOARD ARRESTED. WINNIPEG, August 25. It was learned to-day, after several days spent .in investigation, that the University of Manitoba’s endowment trust fund, which was recently officially reported to amount to 1,600,000 dollars, now amounts approximately to 100,000 debars through thefts totalling 840,000 dollars and bad investments. John A. Machray, K.C., a prominent lawyer and chairman of the Board of Governors, and a bursar of the university has been arrested and specifically charged with the theft of 47,000 dollars. Owing to his ill-health the ease has been remanded until September 1. He was released on a 50,000 dollar bail. Machray has long been connected with the educational and religious affairs of the province.
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Bibliographic details
Otago Daily Times, Issue 21734, 27 August 1932, Page 11
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121TRUST FOND SHORTAGES Otago Daily Times, Issue 21734, 27 August 1932, Page 11
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