SIGNING DEBENTURES.
LITHOGRAPHY NOT LEGAL. By Tel62’ rft nl;—T > r»«*s An*oM<*tton. . THAMES, December 19. A unique position was d st-Josthi - when the Bank of New Zealand presented debentures for payment by the Borough Treasurer on the loan issued twenty years ago. Tiie latter noticed that the debentures signatures were lithographed, not written, as required by the Act, and ter to the Public Trustee, who had lie refused payment, referring the matmoney in the Sinking Fund ready to pa-a over. The Trustee says he never heard of a ; similar position, and ruierred the same to Wellington for advice. The Act provides that coupons may boar lithographed signatures, but this 'was nog ovtcnfl-d -to flel-eut'o-es. but the’; officials evidently assumed that it ciid. The Council a*Kc<i ‘.lie At-torney-General tor an opinion.
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Bibliographic details
Timaru Herald, Volume CXXIII, 21 December 1925, Page 4
Word Count
129SIGNING DEBENTURES. Timaru Herald, Volume CXXIII, 21 December 1925, Page 4
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