FORGED BILLS OF LADING

Otago Witness, Issue 2928, 27 April 1910, Page 24

FORGED BILLS OF LADING

LONDON, April 22. The Shipping Gazette reports that there is excitement in Liverpool over a discovery that has been made of forged bills of lading for from 15,000 to 20,000 bales of cotton purporting to have been shipped from the United Statee,' and invoiced to eighteen, prominent Liverpool firms. April 23. The Manchester Guardian States that the firm which is alleged to be implicated had been in the liabit of sending forged bjlls of lading, they themselves retaining the genuine bills. when irregularities were discovered, the Liverpool and other European importers forced the firm to file their petition. It is still doubtful whether there is any cotton to set off against bills representing 45,000 bales in Liverpool, valued at £75,000. New York cablegrams state that most of the spurious bills are held abroad. The losses in Europe amount to 4,000,000 dollars, including those of one Russian firm, which has lost 750,000 dollars. New York firms have lost 1,000,000 dollars. April 24. Some cotton turning up from America, representing portion of the shortage for Europe, has tended to relieve the anxiety at Liverpool. Speaking at the Liverpool Cotton Exchange, Mr Sydney Buxton (President of the Board! of Trade) eaid that if any

representations could be made suggesting means whereby the Board of Trade, or any of the other Government offices, could intervene, the Government. would go ae far as it legitimately could in order to assist the Exchange to stamp out these cotton frauds. April 25. -. A member of the firm which is implicated in the charge of issuing forged bills of lading, declares that 300,000 bales of cotton were invoiced with spurious bills of lading, and were drawn on, wherefor upon investigation his firm could find no actual cotton. He does not attempt to say who is responsible.