FAILING TO ACCOUNT.

Waikato Times, Volume 102, Issue 17223, 5 October 1927, Page 8

FAILING TO ACCOUNT.

AGENT'S ALLEGED LAPSE. In the Magistrate's Court this afternoon, before Mr Wyvern Wilson, S.M., David Williamson (Mr Strang) appeared to answer two charges of failing to account for two sums of money the property, of the Waikato and Thames Valley By-Products Co., Ltd. Frank William Luxford, secretary of the Waikato and Thames Valley Byproducts Co., Ltd., said the accused came to his office to apply for the position of agent for the company, llu wished to receive an advance from the company for the purpose of buying a lorry and was advanced £SO. In connection with the agency, the buying of calves was one of the accused's duties, and he advanced £SO to use for that purpose. Accused, to his knowledge, bad not purchased the lorry and had accounted for only £22 2s of the second cheque. The agreement .entered into with accused was that lie purchase calves, for which he was allowed Gs each. The profit he made on the margin went to pay expenses and his commission. The £SO advanced for the purchase of the lorry had not been accounted for, while the total amount owing for the two cheques amounted to £7B 2s. He was the only agent to obtain an advance for the purchase of a lorry. The agreement in the advancement of money to agents for the purpose of purchasing calves was that the money be put in the agent's bank account, yet separate from his own private account. • Asked by Mr Strang if it was not known whether the prices set out in the agreement might be subject to variation, witness replied, that he did not know. Accused.had given him a different address to that given to the managing director. The company had received up to 30,000 calves, but he could not say off-hand how many had passed through each individual agent. Witness was acting in purely a secretarial capacity and had never received instructions from his dircc- ! tora}e to demand a refund of advances ■ to accused. Samuel Charles Gale Lye, managing director of the Waikato and Thames ' Valley By-Products Co., Ltd., corroborated the evidence of the previous witness, but stated that Williamson gave his address as Papatoetoe. Accused had been written to twice, but both letters were returned .through the dead letter office. He was again written to and also wired, but no answer was received. Cross-examined by Mr Strang,, witness stated that he was the principal shareholder, owning 9.996 shares out of the 10,000 shares in the company, and had known the accused for upwards of 10 years. . _.