LORD KYLSANT CHARGED

Taranaki Daily News, 10 June 1931, Page 5

LORD KYLSANT CHARGED

ALLEGATIONS OF FRAUDS SHIPPING MAGNATE IN COURT COMPANY AFFAIRS PROBED OBJECTIONS TO EVIDENCE By Telegraph—Press Assn. —Copyright. London, June 8. The case against Lord Kylsant, head of the Royal Mail Steam Packet 'Company, who was arrested on charges of fraud regarding the company’s affairs, was remarkable for the extraordinary number of discussions and objections to evidence. Lord Plender, -giving evidence for nearly three-quarters of an hour, said the Royal Mail Steam Packet Company asked the Government to permit the postponement of meeting its obligations and loans under the Trade Facilities Act. The Treasury appointed Sir William McLintock to investigate the interlocking interests of the various shipping pompanies. Sir William decided that the amalgamation of the shipping companies was impracticable because it did not face the whole of the problems, while most of the companies were in a position rapidly approaching— Here Sir John Simon, defending Lord Kylsant, intervened, objecting to the evidence, which it was agreed should be partly deleted.

Lord Plender, continuing his evidence, said the Treasury meeting decided that reconstruction was impracticable and a meeting of bankers, bill holders and creditors was arranged. Sir Patrick Hastings, appearing for Harold Morland, the company’s accountant, interposed and asked that all the evidence be ruled out as it did not affect the criminal charge. Mr. Pritt, K.C., contended that he merely aimed at enabling the Lord Mayor, who was the presiding magistrate, to understand the case.

The Lord Mayor agreed to delete the whole evidence. Sir William McLintock in evidence said the Pacific Steam Navigation accounts in 1926 showed a profit of £60,537, whereas, according to his figures, there was a loss of £183,750.