STOCK EXCHANGE FRAUDS
BROAD STREET PRESS LTD. HUGE SUMS INVOLVED. Received Dec. 2, 8.30 p.m. LONDON, Dec. 1. Four men were in tho Guildhall dock charged with Stock Exchange frauds on an unparalleled scale by means of tho so-called Broad Street Press Limited. Herbert Spellen, aged 57, journalist, Joseph Wise, diamond merchant, Frederick Newbury, aged 69, mining engineer, and Stanley Moncrief, clerk, all wore associated in a scheme involving the publication of a financial newspaper affording sound advice regarding the buying of securities, but later they sent canvassers who persuaded speculators to invest money in bogus mining companies. In five months, between January and June, £1,600,000 passed into the two banking accounts of the Broad Street Press.
The prosecution stated .that those who got most of the money wore not before the Court. The evidence showed that H. Wise received £798,000 from tho Brnad Street Press and a man named Klein received £298,000.
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Bibliographic details
Wanganui Chronicle, Volume 73, Issue 439, 3 December 1930, Page 7
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153STOCK EXCHANGE FRAUDS Wanganui Chronicle, Volume 73, Issue 439, 3 December 1930, Page 7
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