FINANCIAL WIZARD'S FAILURE.
HIT BY SHIPPING SLUMP,
(b7 cable—press association— copyright.) (austhaliajt and k.z. cable association.)
LONDON, June,'ll
A meeting of creditors of J. 0. Gould, of tho Gould Steamships and Industries, Ltd., disclosed that in 1915, he began with an investment of £SOO in .a shipping company. Later he formed Gould, Limited, shipbrokers, and afterwards other concerns, till in 1920 he amalgamated them as Gould Steamship and Industries, Limited, of which he became manager at a salary .of £IO,OOO, and percentage of profits.' The company bought out a Stockton firm for £1,250,000. : . After the 1922 shipping slump Gould, in order to meet the decline in business, deposited securities with his banks for the purpose of raising capital. Finally, the banks refused advances. He computed the assets of the company in 1920 as being worth £5,000,000, and said they were now worth oAy £500,000. His own personal liar bilities were £440,000. His assets consisted of shares which he could-not value, also arrears in salary; Tho meeting appointed trustees.
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Press, Volume LXI, Issue 18407, 13 June 1925, Page 16
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168FINANCIAL WIZARD'S FAILURE. Press, Volume LXI, Issue 18407, 13 June 1925, Page 16
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