WOODEN SHIPS
END OF LONG-DRAWN-OUT CASE. Received June 28, 8.5 p.m. SAN FRANCISCO, June 27. Attorneys for the Australian Commonwealth Government informed the official secretary (Air Edwards) that a private settlement has been reached in the wooden ship case, which, after obtaining the Federal Courts’ approval, becomes official. Air Edwards has cabled details to the Prime Minister’s Department as follows:—The Trustee in Bankruptcy of the Patterson-Mc-Donald Shipbuilding Company has fund 468,000 dollars, representing the assets of the defunct concern, for the Commonwealth, and the trustee agrees that if both parties cancel claims and coun-ter-claims against each other, including the ship company’s demand for a sum exceeding 300,000 dollars, the trustee will pay the Commonwealth 130,000 dollars. The Commonwealth, however, must pay the attorney’s, referees and arbitrators’ fees, and many others sums in connection with the long-standing litigation, amounting to 115,000 dollars. The Commonwealth, therefore, will ultimately obtain in cash a sum of 15,000 dollars.
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Bibliographic details
Wanganui Chronicle, Volume LXXXI, Issue 19049, 30 June 1924, Page 5
Word Count
154WOODEN SHIPS Wanganui Chronicle, Volume LXXXI, Issue 19049, 30 June 1924, Page 5
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