SEVAN ON TRIAL.
“ WINDOW DRESSING ” TACTICS. By Telegraph—Press Association—Copyright Australian and N.Z. Cable Association. (Received December 4, 9.20 a.m. 7 LONDON, December 3. Gerard Re van, cross-examined with reference to the alleged inflation of the City Equitable’s assets by the- inclusion of war bonds valued at £2OO, which the company did not hold, admitted that the transaction was “ window dressing,” which was a well-known operation in the city, designed to impress the insurance world. It was perfectly proper, because there had been an enormous accretion of assets. Most balance-sheets showed more cash at the date of issue than the company held during the major part of the year. This created confidence among small investors. Every big man knew perfectly well what had been done.
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Bibliographic details
Star (Christchurch), Issue 16906, 4 December 1922, Page 6
Word Count
124SEVAN ON TRIAL. Star (Christchurch), Issue 16906, 4 December 1922, Page 6
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