HATRY FAILURE.

Auckland Star, Volume LX, Issue 228, 26 September 1929, Page 7

HATRY FAILURE.

EXCHANGE INQUIRY. Settlements Postponed Under Suspicion. LIABILITY MAY BE £20,000,000. (Australian Press Assn. —United Service.) (Received 10.30 a.m.) LONDON, September 23. The Stock Exchange has declared as defaulters the firm of W. Russell and Company. The Stock Exchange Committee for General Purposes has ordered that the settlement of the ! bargains open for current account in the following stocks be deferred till October 24:« — Associated Automatics Corporation; General Securities; Drapery Trust preferences; Far Eastern Photomatons; shares and debentures in Oak Investments; the Photomaton Parent Corporation; the Retail Trade Securities; and the Wakefield Corporation 4J per] cent, 1949-1959. The committee has issued a. statement to the effect that owing to the many names of the parties ultimately interested it has been impossible for the committee to identify and isolate all the transactions read through from one Hatry company to another. The committee, therefore, was left only two alternatives. One was to postpone settlement of such shares and securities in the Hatry group under suspicion, irrespective of the parties concerned, and the other was to allow the settlement to proceed in the ordinary , course.

It was decided to postpone settlement till October 24. The "Financial Times ' estimates that the liabilities of the Hatrv Companies are unlikely to exceed £20,000,000. The loss will not involve the investing public to a large extent, but is more likely to concern those with large resources, and therefore better able to bear it. The Governor of the Bank of England presided at a meeting of bankers. Afterwards a statement was issued indicating co-operation with the committee of the Stock Exchange. If is understood that the banks will extend leniency to clients involved in the crash as small investors.

NEWSPAPER STORIES. Mrs. Hatry's Appearance In Court And At The Goal. REPORTS DENIED. (Australian and X.Z. Press Association.) (Received 1.30 p.m.) LONDON, September 25. Some of the newspapers published sentimental stories about Mrs. Hatrys appearance at Guildhall when her husband was charged, and also of her visiting the gaol and being in tears when she left. Mrs. Hatry's secretary states that she has neither been in Court nor has she visited the gaol. She has not been in London since September 19, and is remaining in the country.