A MISSING DEBENTURE.

Press, Volume LX, Issue 18220, 3 November 1924, Page 12

A MISSING DEBENTURE.

(special to "the prxss.") WELLINGTON, November 1. There was a good deal of discussion I in the House to-day over a clause in the "Washing-up Bill regarding pay- j ment out of a proposed loan of £4500 in connexion with a debenture for which an underwriter had not accounted. Mr J. S. Dickson said he would like to know if the Council concerned had taken any action to prosecute or prevent the underwriter from leaving the Dominion. Mr Wilford : What that your political opponent at. the last election? "It does not matter who it was. 1 want to know i- iction has been taken," replied Mr Dickson, "and who the gcntler.irm was." The Minister of Lands (the Hon. A. D. McLeod) said it was the first he had heard of the matter. There was a feature of the Bill about which he had some doubts, and that was the clause relating to the raising of a loan without a poll. The House had always been pretty careful about conserving the rights of ratepayers. Mr Dickson said lie wanted to get some information about the shortage of money in regard to the debentures. He wanted to kuow whether the gentleman was Mr Sydney Wren, a member of the Auckland Stock Exchange, and how the Council allowed the debentures to be signed before the money was handed over. He also wished to protest against the sub-clause allowing the Council to borrow £IO,OOO without a poll. Mr Wilford said he had been approached by the Mayor and Town Clerk of Eastbourne, and asked to introduce a Bill, and he advised them that it was too late in the session to bring in a local Bill. "I do not see," said Mr Wilford, "that because some man has got away with £4500 of debentures belonging to the Eastbourne Borough Council, even if it was a political candidate at the last election, that it lias anything to do with this House." After a good deal of discussion further consideration of the clause was deferred. SPOTLESS CLOTHES WITH. "VELVET." All clothes and all fabrics can be perfectly laundered —made spotlessly clean with warm water and "Velvet'"' soap. "Velvet" is a pure, economical soap, specially sterilised for safety. Use it for toilet as well as for washing day purposes. Obtainable from all stores. 11