NEWSPAPER DEAL

Southland Times, Issue 20044, 4 December 1926, Page 7

NEWSPAPER DEAL

CASE OVER NORTHCLIFFE’S WILL. (Rec. 8.15 p.m.) London, December 3. In the Northcliffe will case, Marlowe, cross-examined, said he understood Sir Malcolm Fraser was in touch with people who could find the money if shares could be purchased. He did not understand it was a question of purchase with the Conservative Party funds. The case was adjourned.— A. and N.Z. A remarkable lawsuit is engaging the Chancery Division. Louise Owen, who was Lord Northcliffe’s confidential secretary and a beneficiary under his will, is claiming the sale of newspaper properties by Sir George Sutton to Lord Rothermere on September 20, 1922, for £1,463,000, should be declared void. Plaintiff claims that the property was really worth much more, as shown by the fact that Lord Rothermere sold a year later for £5,600,000. The Inland Revenue Department is also interested in the suit, believing the value of the death duties was under-estimated. Thomas Marlowe, late editor of the Daily Mail and at president chairman of directors, gave evidence that he sought to purchase controlling shares on behalf of Sir Malcolm Fraser, formerly chief agent of the Conservative Party, but did not pursue the matter after learning that Sir George Sutton had accepted Lord Rothermere’s offer.