THE WARING TAYLOR FRAUDS.

Ashburton Guardian, Volume V, Issue 1390, 27 November 1884, Page 2

THE WARING TAYLOR FRAUDS.

Waring Taylor was brought up at the Wellington R.M. Court yesterday on various charges of having appropriated monies belonging to the May estate. The first charge taken was that he did between 6th of June, 1882, and 23th June, 1881, wrongfully convert to his own use the proceeds of 778 fully paid up shares in the Bank of New Zealand. In opening the cast for the prosecution Mr Jellicoe said the charge was one of the moat atrocious and systematic charges ever preferred against anyone in New Zealand. The charge was that the accused misappropriated the proceeds of 778 shares in the Bank of New Zealand left to certain persons by the late Mr James May. The information was laid under section 79 of the Larceny Act of 1857, which makes misappropriation of trust funds by a trustee a misdemeanour. The late Mr James May died in London in November in 1881, and by his will certain gentlemen in England were appointed executors of his English property, and the prisoner and another gentleman in this colony were appointed executors of the New Zealand estates. By his will deceased bequeathed specifically certain legacies out of shares whici he held in the Bank of New Zealand. Tvjrenty-five of these shares were willed t 0 Ernest Arundel. At the time of his death May owned 1.014 shares in the Bank of New Zealan i, The valqe of those shares were then over L 22.000. Of these 1.014 shares 460 were left to persons outside the colony, 205 being left to residents of New Zb 'land, The prisoner obtained probate of the will on 6th of June, 1882, and he (Mr Jellicoe) would be able to prove that he had commenced his criminal career very early indeed. Evidence would be brought to show that before the prisoner obtained the probate i

of will he had actually sold 350 shares acd disposed of money for his own benefr; He would prove that 778 shares, on whi b the present information was based, together with those which had been transferred to persons entitled to receive them were transferred by the Bank of New Zealand to Taylor in his own name, the bank recognising no trustees. The prisoner converted the 788 shares in question to bis own use. The shares were sold for him by D. T. Stuart, sharebroker, Wellington, who would tell the had paid the proceeds to the prisoner. Evidence would also be called to trace the money into the prisoner's aopoont in the National Bank o! New Zealand, at a time when his account was overdrawn. Again in August, 1883, Taylor sold some more shares, and the proceeds amounted to L 1,154 3s, which were also paid into the prisoner’s account at the National Bulk of New Zealand. In February last yew he again sold 100 shares, receiving L 2,308 5s 81 as the proceeds, and this too was placed to his credit. Taylor at. this time was also trustee in the Rhodes’s estate, and by way of satisfying an indebtedness to it he wrote to Mrs Rhodes that he had invested L 6 965 of her money in the perchase of 293 shares in the Bank of New Zealand. He then fraudulently transferred 298 shares belonging the May estate to Mrs Rhodes’s estate, and also placed 80 shares to the credit of Miss Rhodes. Fifty shares were also taken from the May estate at another time, the proceeds of all these transactions were, converted by Taylor to his own use. Mr Jellicoe went into details relative to prisoner’s attitude towards the English legatees, and concluded a forcible-address by stating that when the evidence had been beard it would be ' seen 'that the prisoner was one of the most skilful thieves of the present age. After some formal evidence as to the transference of the shares, counsel for the prosecution produced a large number of documents found in the prisoner’s possession. These included the transfer of shares alleged to have been unlawfully sold, as well as some letters written to the prisoner relative to legacies under the will of the late Mr May. Documents which were obtained from the Official Assignee were marked as Court exhibits.

David T. Stuart, sharebroker, deposed that he sold certain Bank of Near Zealand shares for prisoner. On the Slat of May, 1882, he sold 23 shares ; on 3rd of Jane, 1883, 31; and on the sth of jime, £BB3, 30. Altogether the net proceeds from those shares amounted to ti 1,938 10a. The money realised was sent to the prisoner by cheque on the Bank of Australasia. Witness deposed to several other similar transactions with the accused. One of these was on the 12th of February, 1883, when a cheque for L 2,303 was sent to the prisoner. Altogether ha had given prisoner cheques for L 6,297 17s* The sale notes were handed in.

Mr Jellicoe pointed ont that upon each one was written “ James May’s estate.” Ernest Wastney gave evidence as to the payment of moneys into the Bank by defendant. In all these eases the proceeds of the cheques went to the reduction of the debit balance. Witness was then examined at considerable length in order to establish the identity of letters, etc., written by the prisoner. D. T. Stuart, recalled in connection with the sale of the shares, said that he charged May’s estate with- the whole of the commission and gave Taylor half. Thomas Mason was one of the trustees in Rhodes’ estate. In April of this year he recollected obtaining a transfer of 50 Bank of New Zealand shares from the accused lo the estate. At that time the prisoner was indebted to the estate, but the exact amount he could not say. He supposed that they belonged to Taylor because they were transferred. in hie name. Arthur Edward Rowden, clerk to the Rhodes’ trust, said iu Juae 4 1883, the accused was indebted to Mrs Rhodes for L 11.285 6s lid. In April, 1883, 293 Bank of New Zealand shares were'transferred to. Mrs S. A. Rhodes by the prisoner receiving credit on that account for L 6,965155. The receipt produced was in MrsS.- A. Rhodes’ handwriting. Did not know until quite recently that these shares belonged to the May estate. He could not say how the . trust came to take over these shares. The liability to Miss Rhodes in June, 1883, was L 2.779 3s. Eighty New Zealand Bank shares were transferred to Miss M. A. Rhodes about that time, for which the accused took credit; for L 1,873 odd. The receipt for the shares produced was signed by Miss Rhodes. At the time this transfer was made he was not aware that they belongedlto the May estate. Ernest Arundel —I reside withmy parents at Dunedin. lam one of the legatees under Mr James May’s will. In March, 1883, I received this document’ (produced) from W. Waring Taylor, and affixed my signature to it, authorising the transfer of 20 shares out of 25 willed to me by Mr May, and giving Taylor power of attorney. A letter was also sent, stating.that my brother Jonas thought it improbable that a power of attorney and transfer would be of any use because I was under twenty-one years of age. I have never received those shares, nor have I received the value of them. In May, 1884, my father received from Mr Taylor a cheque for LlB, being the dividend on my 26. Bank of New Zealand shares, and. for which a receipt was forwarded which my father signed in my presence and returned. I never gave prisoner any authority to transfer shares.

Mr L. Hawk, clerk, formerly in the employment of the accused, deposed that the writing in the Trust and Estate book,was all in Taylor’s handwriting. Ho alsoswore that the letters to the Sheffield solicitors and to Ernest Arundel were in th<j handwriting of the prisoner. At this juncture it was decided, to adjourn the case till Saturday morning, bail being allowed as before.