IMPORTANT CASES

Ashburton Guardian, Volume VII, Issue 1626, 3 August 1887, Page 3

IMPORTANT CASES

Wblmnoton, August 3. In the Supreme Court this morning judgment was given m two oases, one arising out. of the Waring Taylor frauds, and the other out of Waters' finanolal transactions. Iv the Northern Land and Loan Company v the City Advance Company, Judge Richmond gave judgment for the full amount olaimed, £600 with interest from the time of deposit and costs on the highest scale. He remarked the conduot of both Companies to say the least of it reflected on the credit of the management of either In Pharazyn and others, V Mason and. others, the present trnstees of W. B. Rhodes' estate, Boed the late trustees for moneys loit by the defalcations of Waring Taylor, one of the trustees. His Honor laid it down as a principle tbat the trustees had no right to pi «cc or leave trust moneys under the sole o mtrol.of anyone of themselves. Taylor had been allowed to sign chequeu meroly countersigned by the bookkeeper, bub bad it been necessary to get cheques signed by the other trustees most probably the defalcations wou'd have been oheoked at the start. Judgment against defendants for £6,500, capital sums, and £427 9j lid due on the income account. The amount of interest was lef i as a matter of arrangement. Mrs Rhodes was one of the trustees herself.