AUSTRALIAN NEWS
WARD COMPANY'S AFFAIRS HEARING OF CASE ADJOURNED (United Press Association) (By Electric Telegraph—Copyright) SYDNEY, Oct. 20. (Received Oct. 27, at 0.45 a.m.) Further examined in the Bankruptcy Court to-day concerning the Ward Company's affairs, Clarence Curwen admitted that on the day before the bank closed Ward's account, £7OO worth of bonds belonging to one of the firm's clients, who was not indebted, were deposited with the bank in support of the firm's overdraft, and that of £40,000 which Curwen had drawn from the firm of Ward Company much had been spent foolishly. Curwen also said that Alfred Keith Ward, one of the partners, was unaware of the financial position of the firm until late in May this year, and he had nothing to do with the disposal or the securities. The hearing was adjourned.
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Otago Daily Times, Issue 23333, 27 October 1937, Page 10
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136AUSTRALIAN NEWS Otago Daily Times, Issue 23333, 27 October 1937, Page 10
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