FINANCIAL SENSATION

Poverty Bay Herald, Volume LV, Issue 17062, 21 September 1929, Page 15

FINANCIAL SENSATION

CLIMAX REACHED HATRY ARRESTED (Australian and N.Z. Press Association.) (Received Sept. 21, 3.45 p.m.) LONDON, September 21. . The climax of the financial sensation was reacted this evening when Ha try and three associates were arrested, Earlier in the day Hatry consulted his solicitors, and they told liis exactly how ho stood from the legal point of view and advised him to place the position before the authorities. This applied also to Edmund Daniels, John G. Dixon, and A. E. Tabor, directors of various Hatry companies. i After this Hatry and his associates conferred and declined to see the Director of Public Prosecutions and made personal arrangements ..with their wives m case of eventualities.... Tho four duly arrived at tho office of Sir Archibald Bookin and made a statement to detectives trained in the intricacies of company business. An interval followed and then it was explained to Hatry and his associates that in view of the statements they could not be allowed to go free. Accordingly, the four were taken in taxicabs to a police station, where they were formally charged and spent the night. They will be charged at the Guildhall to-day with various offences arisihg out of the financial operations. Employees, offering bail, were informed that it was a matter for the magistrate. It is learned that Hatry and his chief associates realised on Thursday night that no assistance would bo forthcoming from the great banks. Contrawise, the banks wore pressing the companies and insisting upon an investigation until every avenue had been explored. Hatry explained the situation finally said simply, “Well, boys, this is the finish.’’ Daniels was once a bank clerk and is now director of 15 companies, managing director of the corporation, and general secretary. The Daily Express says lie owns three residences and livo motor-cars.