A COMPANY'S TROUBLES.

Poverty Bay Herald, Volume L, Issue 16320, 2 January 1924, Page 3

A COMPANY'S TROUBLES.

PROPOSED PROSECUTIONS

(Reuter's Telegram.) ■LONDON, lice. 31. As the outcome of <i special committee's enquiries for the past eighteen months into the position of the company an disclosed by the! balance-sheqjt of 1921 a circular has been distributed to shareholders of the Dunlop Rubber Company lulling an extraordinary meeting for January 7 to endorse the action of the directorate in issuing writs against the president and also against a number of past and present directors. WRIT§ AGAINST DIRECTORS. (Australian and N.Z. Cable Association.) (Received Jan. 2, 10 a.mi) - LONDON, Jan. 1. lhe Dunlop Company's circular states that as a result of 'counsels' advice writs; have been issued against the president of the. company, Arthur Ducros, and some other past and present directors. The company has also issued a writ noainst Arthur Ducros and James White, claiming relief in respect of transactions in which they individually [were concerned. Arthur, .Alfred and George Ducros also have issued write, fs.lv.ing that their agreements with the company, be declared binding. Under his agreement Arthur Ducros is drawing twelve thousand pounds a year, free of tax. Counsel say that only five directors, namely E.rio Geddes,' George. Behnrroll, Guy Grant, Szatvasy, and Tail, are entirely unaffected. ' The committee's, report states thai Beharroll is now acting managing director. The profit for nine months to March, 1923, totalled six hundred thousand pounds. The Board recommends that details of the report should not be made public, as some past and present directors, made proposals for settlement, and the Board is encouraging settlement in all cases because it would be better that the claims of the company should be adjusted without liturntiou'if possible.