THE BANK DEFALCATIONS.

Ashburton Guardian, Volume V, Issue 1258, 8 June 1886, Page 2

THE BANK DEFALCATIONS.

At Sydney, on May 2d, E. B, Holt, the .of suiting bank manager, made a a'a:-..-

luout in mitigation of his sentence, in the course of which he said : 1 hive beta 25 years in toe C louies, and during that period have been employ-d in two banka, naine y, 12 years in the Union (tank of Australia and 12 years in the dank of New Zealand leaving 'ha former service for an improved position ia the latter, and such long services prove the es'iroation in which I have been he d by both inati u ions. 1 have reason t) boaev i that the Bank authorities held me in high esteem, and valued my services to th ■ greatest extent, aad 1 can conscientiously say that I used every endeavour, even io the prt-jedice of my own health, to for ward the interests of the Bank of New Zealand, as well as those of the New Zealand Loan and Mercantile Agency Company, of which institution I was also manager, and I thinkit w llbegenorally ad mitted that he present isfactory condition of these institutions ia ontirey due to my exert ons. When Ibe ame gn by of the conduct which ltd to the present prosecution, I left Sj dney and made my way to Townsville, in Queensland,, bn' was so wretched and full of remorse that I intended, oa my re urn to Sydno?, to give myself up to the po ice. When I was arretted at Br.sbane, 1 hid ordered my luggage to br plic-id on boird a steamer for Sydney, as I th'uk ti« auth nicies will tell your Honor, and in the same spirit of repentance I hive at atgned everything I have m the war d for the b nefit of my creditors, and there ia every reason for believing that ou the realisation of my estate the creditors will be paid in fall, or nearly so, for my other debts are of a trivial character. My chief creditors are the Bank of New Z ralaud and the Now Zealand Loan aad M mcantile Agency Company, and I hope that will be considered. My life is indeed wrecked. My wife has been compelled to go to another land, where she has friends on whose kindness she must cist herself. I am more than 46years old, and am in a vn ry weak state of health I have already known the horrors and bitterness of my imprifonmi nt in gaol for two months, the bitterness of which to me I cannot describe.”