CONSPIRACY ALLEGED

Poverty Bay Herald, Volume LXII, Issue 18756, 12 July 1935, Page 5

CONSPIRACY ALLEGED

GOLD MINE SHARES SOUTH AFRICAN BUBBLE DIRECTORS FOR TRIAL (Elec. Tel. Copyright—United Press Assn, i (Received July 12. noon.) CAPETOWN, July 12. Seven directors of the Doornhoek Platinum Mines, Limited, including Sir Johannes Van Boeschotcn, were .committed for trial on a charge of coiHispiracy to defraud. , • All the accused are prominentpublic men in .Johannesburg. ■ A - magisterial inquiry established ■ the fact that-a large number of shares were distributed to directors as bonus shares. The shares had a sensational rise in HUM from a few shillings to 335, falling later like a shot to 2s. .Sir Johannes Van Boeschotcn, the chairman, stated that he was completely ignorant, of the events leading to the alleged fraud of shareholders. Allegation* of tlieft in eonnectirin with the .affairs of flic Doornhoek Platinum Mines, Limited, led* to. the appearance in court last month of six directors and the secretary to undergo examination. The names of tho men concerned are: Sir Johannes Van Boeschoten, William. Oakley, Bernard .Alexander, Julius Alexander, Norman Wickoe, and Herbert Mockford. Sir Johannes Van Boeschoten, who has been three times Mayor of Pretoria. and William Ookley were granted l bail in the sum of £SOO, and the bail of the remainder, together with that of the secretary, Thomas Meyer Lichtenstein, was fixed in the sum of £2OOO. It has been allnged that the collapse of the shares on the stock exchange last- September involved approximatcly £500,000 of the public's money. On the strength of rumors that 'rich gold had been struck, the shares rose from 0s to Mis in a week. Later it was reported that the gold deposits were negligible, and the shares fell to Is, causing the most frenzied dealings known here since the earliest boom days.