LOAN AND MERCANTILE

Waikato Times, Volume XLII, Issue 3390, 22 March 1894, Page 5

LOAN AND MERCANTILE

(by electing telegraph-copyright.) London, March 19, THE Court has upheld the order to examine the directors of the Loan and Mercantile. " Notice "of appeal was given,

t Justice Sir Roland Williams, delivering judgment in the New Zealand Loan and Mercantile case, said he was decidedly of opinion that a prima facie case of fraud had been made out against Thomas Russell, and he was surprised the directors were unwilling to take an opportunity to clear themselves. His Honor also said thereport of the liquidators revealed a state of things demanding rigid examination.

In delivering his judgment in the New, Zealand Loan and Mercantile Agency Company's case Justice MHams expressed; the opinion that Mr Thomas Russell had to a large extent benefitted by his no!; bona fide dealings with land and loan companies. : Referring to the Judge's decision in l the Ne ,v Zealand Loan and Mercantile Agency Company's' case, the Times says that the public are astonished at thedireclors 'appealing, arid adds that their public 'position ought to render them impatient to meet inquiry.

March 20, The Appeal Court entered up judgment by consent for the public nation of the New Zealand Joan and Mercantile Agency' Compsny's directors. ;

Melbourne, March 20. The, representatives of the New Zea» i land Loan and Mercantile Agency; Company have received no advices from London, and judge from this that the proceedings reported in the Press cablegrams refer to old debenture issues of the, company, arid have no connection with the re 1 construction scheme which the English Court has been asked to confirm on Wednesday next.. Mr Russell left Australia at the first of the month, and should arrive, in London about Saturday week.