A QUEER AFFAIR

Ashburton Guardian, Volume V, Issue 1448, 5 January 1887, Page 2

A QUEER AFFAIR

VV ELLINGTON, Janttarj 4. A meotlng of the shareholders of (kt Northorn Land, Lonn and Building Society was held to-night to oonalder a resolution to wind up Tolun'arlly. Mr W. R. Waters was until recently Manager of this Society, and the Chairman stated that the defalcations of Waters amounted to r early £3000 Ac;a'mt thin there was aguaraiHe <f £1000 but the Society had to C)inpromißo for £750, owing to a law m tho poHoy. The Directors fxpeoted •hiu the total 1n«« to tho Society wonld be close o» £1900. It wae mentioned that the dt'fnl«aitons we c only ascertained (hrougli Wntf>ra' bunkrup'cy Tho oooki of the O n»pany had been audited last yenr, bir th^v had been kept m nuoh % | w+y a« to prevent detection of the defal* ( cat tone J> othing had been done by the Dirtct'jrn te prevent W«tera being prose* ( cuu-ri, aod It w«a open for the share* holders to tike action for embezzlement. ( Nothing, h- wover, was determined on. P After some di-cusnion, during which 10ms r/ithrr aevero rotnarkß were nn'de oonoerning tho Dir-'otorn, n resolution to wind up ( w»s oarrled, and tho meeting adjourned for fourteen days, when a more' complete sUtetoent wilt be made \Vu er» w»a » pinsen or by tho Waihora, I which left for Melbourne yetterday, and it imm'tarshood tha* prior to leavin/ he forwnrded to the Offioial Assignee a medical ci-rtifjoatH to the effect that it wai nece»>cary Water" ahi<uld htv« perfect rest and t> ko a sea voyage extei diog over a f^w weelis.