AFFAIRS OF FIRM

Dominion, Volume 28, Issue 108, 31 January 1935, Page 9

AFFAIRS OF FIRM

Reported Losses In India and England MANAGER’S FATAL FALL London Bankruptcy Court Proceedings By Telegraph. Press Assn. —Copyright. (Received January 30, 7.20 p.m.) London, January 30. Reports from Bombay of a fatal fall from a window of Mr. 11. C Whiteliouse, general manager for India of tlie Strauss Company. Ltd., produce brokers, coincide with the opening of proceedings in the Bankruptcy Court in London in connection with the affairs of the firm, whose capital is £500,000. A "Daily Telegraph” gable .-ays that the firm’s losses in India are reported to be about £1,000,000, and those in London about £BOO,OOO. Solicitors for the Chartered Bank of India, Australia and China, applied for the appointment of a receiver. A grain expert ou tlie Baltic Exchange says that business has been practically brought to a standstill for three days while dealers are .endeavouring to ascertain the extern to which they are affected. The “Financial Times” says that a sum of ovei’ £1.000,000 is stated to be involved as the result of heavy short sales of ground nuts, castor seed and linseed, the prices of which have sharply advanced. The largest shareholder is a member of the House of Commons. Mr. E. A. Strauss, with 215.000 shares. Several banks at Calcutta, Lahore and Karachi pre believed to be heavily involved. The “Financial Times” understands that an order has been made for a provisional receiver for the company, and that a member of a. well-known firm of chartered accountants has been appointed. ' VERDICT OF SUICIDE Inquest on Manager (Received January 31, 1.10 a.in.) London, January 30. At the inquest at Bombay on the.body of Whitehouse, the coroner returned a verdict of suicide while temporarily insane.