THE LOAN AND MERCANTILE COMPANY.

Oxford Observer, Volume V, Issue V, 14 April 1894, Page 3

THE LOAN AND MERCANTILE COMPANY.

London, April 9. The Hon. A. J. Mundella, in his examination, denied that he was aware that the -prospectuses regarding, the security of the debentures were misleading, hut thought them only- anv biguous.- He condemned the colonial Board's greediness for business and overtrading .up. to the hilt, against which he had protested. The suggestion that he was guilty of a policy of concealment was - a gross injustice, but he had thought it would' be injurious to inform the shareholders of Mr Larkworthy's report without confirmation. Mr Paul, he said, never mentioned the Company's holdings of Waikato, lands in connection with the balance sheet o'f 1891. The Judge described the Company's transactions in Waikato lands as unjustifiable as an investment. London, April 10. Judge Williams intimated that he must see the financial statement on which the reconstruction scheme of the New Zealand Loan and Mercantile Agencj Company was based before he decided to sanction or reject the scheme. The representative of the Creditors' Committee stated that the scheme was based on the report furnished to the official receiver by Messrs Turguard, Youngs aud Co., and it is their figures that his Honour wishes to see. The creditors committee meet to-day to consider the effect . the evidence elicited by Judge Williams' examination will have on the scheme as at present drawn up. Sir James Fergusson is in the wituess box.