DIRECTORS’ CONDUCT
INVOLVED IN PEPPER CRISIS.
MUCH FORWARD BUYING DONE.
By Telegraph—Press Assn.—Copyright. Rec. 5 p.m. London, April 10.
The bankruptcy proceedings in connection with the Adair Company, which was involved in the pepper crash, disclosed liabilities amounting to £447,308 and assets of £14,744. The Official Receiver, Mr. Phillips, declared it was difficult to find a reasonable explanation of the conduct of the directors in arranging forward contracts in pepper amounting . to approximately £1,000,000 when the company’s capital was only £30,000. <
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Bibliographic details
Taranaki Daily News, 11 April 1935, Page 5
Word Count
81DIRECTORS’ CONDUCT Taranaki Daily News, 11 April 1935, Page 5
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