FARROW'S BANK
TRIAL OF OFFICIALS. DEFICIENCY OF £2,000.000. LONDON. June 6. The trial of the officials of Farrow’s Batik, which recently suspended payment, has opened. Farrow, Crotch, and Hart were charged with conspiracy to defraud.Farrow and Crotch were also charged with publishing false statements of accounts, and Hart with aiding and abetting. Ail pleaded not guilty. The Attorney-general said that the bank’s deficiency was at least £2,000,000.
The bank spent £9OOO yearly in advertising—!,il'grly in religious i-üblications—that the bank was solvent and pro- permit*. Thomas Farrow was chairman and managing director of Farrow's Bank, and ho and William Walter Crotch were the founders of the bank. Harr was the bank’s auditor. At the Guildhall proceedings th" prosecuting counsel said ihat a cupboard broken open in Hart’s room revealed papers showing how fraudulent balance sheets had been prepared for each yen’ A document was prepared showing the true position of affairs, from which Dart (the auditor of the bank) cooked a balance sheet.
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https://paperspast.natlib.govt.nz/newspapers/OW19210614.2.56
Bibliographic details
Otago Witness, Issue 3509, 14 June 1921, Page 18
Word Count
162FARROW'S BANK Otago Witness, Issue 3509, 14 June 1921, Page 18
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