AUSTRALIAN NEWS.

Waikato Independent, Volume VI, Issue 383, 8 June 1907, Page 5

AUSTRALIAN NEWS.

CLOTHING FIRM'S SWINDLE

[BY ELECTRIC TELEGRAPH COPYRIGHT.] (PER PRESS ASSOCIATION) Sydney, June 8. A sequestration order was granted to the estate of Abraham Myerson snd Maurice Myerson, merchants, trading as the American Shirt Company and the Phoenix Clothing Manufacturers, who were arrested on a charge of conspiracy to defraud their creditors. The evidence, on behalf of the petitioning creditors, who include a number of large city firms, set out the liabilities to over £II,OOO, and Myersons had been selling heavy stocks of goods at auction, below cost price, and drawing large sums from the bank whereof no account was given in the books. VICTORIA'S FINANCIAL POSITION. Melbourne, June 7. A number of financiers interested in Victoria's trade luncheoned Mr T. Bent. Mr Faithful Begg presiding, objected to the tone of Mr W. M. Hughes' recent speeches, and said they were calculated only to produce a feeling of unrest. Mr Bent assured the gathering it was perfectly safe to invosfc money in Victoria. Most of the labor leaders had substantial vestments in the State, and he was willing to pledge himself that future legislation would in no way interfere with legitimate investments. He said Victoria had always faithfully observed her obligations.