BUSINESS MEN ARRESTED
GLASGOW CITY SENSATION
£500,000 FRAUDS RUMOURED
COLLAPSE OF BIG COMPAQ
STOCK, EXCHANGE AMAZED
By Telearaph~Pre?s A?sn.—Copyright. Rec. 7.45 p,m. London, Feb. 17. Sensatioh was caused in Glhgdw when it was known that thirteen business men had been arrested in connection with the affairs of tfie £2,000,000 company Scottish Amalgamated Silks Limited St prfesent in liquidation. Business on the Glasgow Stock Exchange was practically at a standstill while the news was discussed- Relatives and friends rushed to the police station, where a number of brief interviews was permitted.
The accused men are expected to appear at the Police Court to-day. In the mearitime the only charge kflbivn is against one of the accused who is alleged to have formed a fraudulent scheme with the others whereby £438,000 subscribed by the public was allegedly appropriated lor their own use.
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Bibliographic details
Taranaki Daily News, 18 February 1931, Page 6
Word Count
140BUSINESS MEN ARRESTED Taranaki Daily News, 18 February 1931, Page 6
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