TO SERVE HIS SENTENCE.

Waikato Times, Volume 110, Issue 18478, 5 November 1931, Page 7

TO SERVE HIS SENTENCE.

LORD KYLSANT’S APPEAL. DISMISSED BY THE COURT. United Press Assn.—Electric Tel. Copyright LONDON, Nov. 4. The appeal by Lord Kylsant against his oonvlction has been dismissed by the Court of Criminal Appeal. The application for leave to appeal for a reduction of the sentence was also dismissed. Lord Kylsant was found guilty at the Central Criminal Court in London on July 30 of making and publishing a prospectus which he knew to be false in a material particular with Intent to Induce persons to entrust or advance property to the Royal Mail Steam Packet Company, of whioh he was chairman, and was sentenced by Mr Justice Wright to 12 months’ imprisonment in the second division. He was found not guilty of the charge of making and publishing annual reports of the company for the years 1926 and 1927 which he knew to be false in a material particular, with intent to deceive the shareholders of the company.

LATER. THE COURT UNANIMOUS. VERDICT FULLY JUSTIFIED. JUDGE’S DIRECTION TOO LENIENT. United Press Assn.—Elec. Tel. Copyright. (Received Nov. 5, 12.30 p.m.) LONDON, Nov. 4. Ilis Honour, Mr Justice Avory, speaking deliberately and at considerable length in Hie Kylsant appeal case surveyed the history oi' the ease. He expressed the opinion that there was ample evidence upon which the .jury could reach the conclusion that the prospectus was false in a material particular, in that it conveyed a false impression by putting before investors figures which apparently disclosed the existing position of the company, but facts were concealed; in other words, the documents implied that the company was in a sound flnanjial position and prudent investors 'could, 'safely invest therein. This Implication arose particularly from the statement, that dividends had been regularly paid over a period of years. This was misleading because, the dividends were paid not from 'current earnings but from earnings in the abnormal war time period and this fact was omitted from the document. If there was evidence that the document was false in the particulars already Indicated there was ample evidence upon which the jury could find that appellant knew of this falsity, knowing as he did the means by which the dividend had been paid.

The Court unanimously came to the conclusion that there had been no misdirection of ‘the jury and there was ample evidence upon which the verdict must be supported. So the appeal was dismissed. His Honour, Mr Justice Avory, after a brief 'consultation with his colleagues, added the Court was further of opinion that the direction to the jury had been favourable. Lady Kylsant and the Earl of Coventry saw Lord Kylsant before lie was taken to prison in a taxi. A friend of Lord Kylsant said ho received the decision with the same calm dignity he has maintained throughout the case.

FURTHER STEPS PROBABLE. APPEAL TO HOUSE OP LORDS.' United Press Assn.—Electric Tel. Copyright (Received Nov. 5, 12.30 p.m.) LONDON, Nov. 4. It Is probable that Lord Kylsant will appeal to the Ilouso of Lords against his conviction nnd sentence.