SHARE-HAWKING ALLEGED

Timaru Herald, Volume CXLII, Issue 20586, 27 November 1936, Page 4

SHARE-HAWKING ALLEGED

BROKER BEFORE COURT COMMITTED FOR TRIAL By Telegraph—Pres? Association CHRISTCHURCH, November 26. Pleading not guilty to ten charges of share-hawking, Osmond Arthur Bridgewater, a sharebroker, of Cashmere Road, who appeared in the Magistrate’s Court this morning, before Mr E. D. Mosley, S.M., was committed to the Supreme Court for trial. Mr M. J. Gresson, with him Mr E. A. Lee, appeared for Bridgewater, Mr R. A. Young watched proceedings for the debenture-holders, and Chief-De-tective Dunlop conducted the case for the police.

John Morrison, assistant Registrar of Companies, gave evidence that the Australasian Investment Company, Ltd., had been registered on July 3, 1935.

John Harrison Campbell, a retired grocer, said that he had purchased debentures in the company as a result of being called upon by an agent of the company who had asked him to transfer his shares to a new company. Refused to Transfer Shares Edith Mary Chapman said she purchased shares in the Executive Trust, and was called upon by Bridgewater, who suggested that the shares should be transferred to the Australasian Investment Company, Ltd., a new company which was being formed. “I did not agree,” said Chapman, “and Bridgewater called several times.”

Corroborative evidence was given by Robert H. J. Chapman, a salesman, that the accused had called upon his wife in respect to the transfer of shares on several occasions. Elisabeth Am Morton, Lower Riccarton, said that in 1932 she purchase.] debentures in the Executive Trust through the office of the accused. Sue was late rcalled on by Bridgewater without invitation, and as a result of his visit she agreed to exchange the debentures already purchased, for shares in the Australasian Investment Company, Ltd. A statement was made by William Gilmore Bruce that he had been approached by Bridgewater, who endeavoured to persuade him to exchange debentures he already held for Investment Company shares, which the accused said would be worth considerably more. After evidence along similar lines had been taken the accused was committed to the Supreme Court for trial.

Bail Allowed In asking for a renewal of bail, Mr Lee said that Bridgewater was a man of some substance and had his ness in Christchurch. The Magistrate: Is his substance as substantial as these shares? Mr Lee: Much more so, sir. “Have you anything to say, chieftetective?” asked the Magistrate. “There is round about £BO,OOO involved,” said Mr Dunlop. Mr Lee: We have had this bogey hurled at us before and there is nothing in it. Bail was fixed at £5OO, with one surety of £5OO, a codition being that the accused report twice a week to the detective office.