AUSTRALIAN NEWS
WARD COMPANY’S AFFAIRS PRINCIPAL’S ADMISSION MELBOURNE, Oct. 25. (Received Oct. 26, at 1 a.m.) When William Cooper Ward, a stockbroker, appeared before the Registrar in Bankruptcy for examination to-day, medical evidence was given that he was unable to stand a sustained examination. His nervous system had deteriorated, and his demeanour was eccentric, and he was prematurely aged. The registrar said he would apply to Mr Justice Lukin for dispensation of the examination. Clarence Curwen, who was one of the principals of the Ward Company. admitted during examination that more than £40,000 which he had drawn was largely fhe property of clients. The hearing was adjourned. Creditors in the bankrupt estate of Ward and Co., formerly sharebrokers, of Melbourne, were told by the trustee that the drawing of the three partners—William Cooper Ward. Clarence Curwen and A. Keith—exceeded the 'profits by £70,390 between June, 1920, and June, 1937 The trustee reported that this excess had been financed by the lodging of clients’ share certificates at the Bank of Aust;a, asia for sale on account of the firm It was particularly noticeable that the majority of the shares remaining in the safe deposit vault at the date of sequestration were either valueless or of such a nature that they could not readily be realised upon.
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Bibliographic details
Otago Daily Times, Issue 23332, 26 October 1937, Page 9
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215AUSTRALIAN NEWS Otago Daily Times, Issue 23332, 26 October 1937, Page 9
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