Equitable Insurance Company.
Wellington, October 4. The enquiry into the petition of the shareholders of the Equitable Insurance Company by the Petitions Committee closed on Wednesday night at 11 o'oloob, after holding seven continuous sittings. Mr Callan's Gross examination showed a loss of £73,693 from January, 1887, to February 18, 1891. Only sixteen and a half per cent of oalls have not been paid. Messrs Cargill, Meeoan, Hogg, Gregg, and Sinclair, directors, were not present, but some were represented by counsel, Dr FiadUy. The only evidence given in defence was by Mr Callao, whose connection with the Board did not extend beyond eighteen months ; he disclaimed all knowledge of the affairs of the Company previous to becoming a director. It wes claimed by the defence that the shareholders were re" sponsible for the loss of business. Mr Sevan, however, contended they had loyally adhered to the Company, as shown by the private business given, and the large amount of capital subioribed; and that the true cause arose frrm dissensions in the Board itself. The evidence, which is very voluminous, is being printed.
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Bibliographic details
Colonist, Volume XXXVII, Issue 8062, 5 October 1894, Page 2
Word Count
182Equitable Insurance Company. Colonist, Volume XXXVII, Issue 8062, 5 October 1894, Page 2
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