SHARE FRAUDS
SENSATIONAL REVELATIONS IN MELBOURNE United Press Association— By Electric Telegraph Copyright (Received October 6, 9.0 p.m.) MELBOURIE, October 6. The creditors in the bankrupt estate of Ward and Company, formerly sharebrokers of Melbourne, were told by the trustee that the drawings of the three partners, William Cowper Ward, Clarence Curwen and A. Keith, exceeded the profits by £70,390 between June 1920 and June 1937. The trustee reported that this excess had been financed by the lodging of clients’ share certificates at the Bank of Australasia, for sale on account of the firm. It was particularly noticeable that a majority of the shares, remaining in safe deposit vault, at the date of the sequestration, were either valueless, or of such a nature, that they could not readily be realised upon. The examination of the debtor vill begin at the end of the month.
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https://paperspast.natlib.govt.nz/newspapers/THD19371007.2.49
Bibliographic details
Timaru Herald, Volume CXLIII, Issue 20852, 7 October 1937, Page 7
Word Count
144SHARE FRAUDS Timaru Herald, Volume CXLIII, Issue 20852, 7 October 1937, Page 7
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