BRASH OF HATRY GROUP

Taranaki Daily News, 30 September 1929, Page 11

BRASH OF HATRY GROUP

GIGANTIC FRAUD ALLEGED STRANGE SCENE IN COURTROOM. ADJOURNMENT OF THE HEARING. By Telegraph —Press Ass-n. Copyright. Australian Press Association. United Service. London, Sept. 2/. Clarence Hatry and his colleagues appeared in court to-day and were remanded until October 10. Sir George Trustcott was on the bench and the defendants were seated immediately in front of the dock, which was not used. Mrs. Hatry was not present. A friend stated that she was resting in the couutry. Hatry looked composed and almost cheerful, and the defendants chatted animatedly with their counsel, the whole scene resembling an informal company meeting, or rather a drama whereto this was the prelude. *Mr. 11. Roome, representing the public prosecutors, said that six months aftei the Wakefield loan had been issued the defendants committed a shocking fraud. On July 15 Daniels ordered Blades, East and Blades, who had. printed the Wakefield loan scrip certificates, to print a further 80 Wakefield certificates for £5OOO each and deliver them to Dixon, not to Page, the chief clerk of the Issue Department of the Corporation of Generah Securities, who had ordered the previous printing for the Wakefield loan. The defendants desired to conceal what they were doing from Page, and thus certificates amounting to £400,000 were fabricated. The defendants were hard pressed for ready money. “These four men, directors of an issuing house of the City of London, stooped so low as io issue worthless scrip,” added Mr. Roome. Russell and Co. were completely deceived. The printers had no reason for knowing these supplementary issues were in any way spurious, and accordingly they printed and delivered them to Page, whom Dixon told they would be exchanged for original scrip, which would be cancelled. As the exchange was not made Page asked Daniels if he realised that they had issued more scrip than the amount of loans. Daniels said, “Technically we have. I am seeing to it.” Mr. Roome continued that these spurious issues would be subject to further charges. “There are men being ruined by the action of these defendants, whose uttering of spurious securities has rendered them liable to 14 years’ penal servitude.” The hearing was adjourned.