DEATH OF MANAGER

Dominion, Volume 28, Issue 109, 1 February 1935, Page 11

DEATH OF MANAGER

Bombay Inquest Evidence NERVOUSNESS IN MARKETS (Received January 31, 7 p.m.) Calcutta, January 30. At the inquest on H. C. Whitehouse, manager for India of the Strauss Company Ltd., at which a verdict of suicide while temporarily insane was returned, it was stated that he had been depressed on receipt of instructions from head office at London to stop payment of creditors and cease trading owing to the financial embarrassment. He left a letter saying: “I cannot face tlie tangle.” Nervousness prevails in the seed and grain markets of Bombay’, Madras and Calcutta.

A Loudon cable published yesterday states reports from Bombay of a fatal fall from a window of Mr. 11. C. Whitehouse, general manager for India of the Strauss Company Ltd., produce brokers, coincided with the opening ot proceedings in the Bankruptcy Court in London in connection with the affairs ot the nim whose capital is £500,000. A “Daily Telegraph” cable stated that the firm’s losses in India were reported to be about £1,000.000,. and those m London about £BOO,OOO Solicitors lor the Chartered Bank of India, Australia and China, had applied for the appointment nf receiver. A grain expert on the Baltic Exchange said that business had been practically brought to a standstill for three days while dealers were endeavouring to ascii tain the extent to which they are affected. Th “Financial Tunes” understood that an order had been made for a Provisional receiver for the company, and that a member of a well-known firm of chartered accountants haf. been appointed. WINDING-UP SOUGHT Petition Filed at London (Received January 31, 11.55 p.m.) London, January 31. A petition has been filed for the eompulsorv winding-up of the Strauss Company. The official receiver has lieen appointed as provisional UqmdatoThe petition for winding-up is due for hearing on February 11. In the meantime the firm has been suspended from the Baltic Exchange, and the name of the company deleted from membership of the Corn Trade Association. No official information is available as to the extent of the losses which as far ns London is concerned, are believed to be confined to strong institutions.