Wholesale Robbery of a Building Society
■-■•-■ (per press association.) Timabu. September 12. A. special meeting of the South Canterbury Builaing Society to night received reports from the directors, auditors, and accountant, who had investigated the society's affairs. The directors report that the late manager, W. Ziesler, who committed suicide a short time ago, had been committing defalcations for the last seven years. He had abstracted securities reoeived and voucheres of fixed deposits, making no entry in the books He had forged vouchers, property lists and deposit receipts, and kept bogus accounts. The consequence was that the company must face a loss of over £5000. The securities held are mortgaged to the Union Bank to cover an overdraft of £8,874, and this bank demands that the company be wound up at once voluntarily, or it would force a liquidation. The auditors were blamed for accepting the lists of securities given (hem by the manager instead of seeing th» deeds for themselves.
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Bibliographic details
Feilding Star, Volume XIV, Issue 37, 13 September 1892, Page 2
Word Count
160Wholesale Robbery of a Building Society Feilding Star, Volume XIV, Issue 37, 13 September 1892, Page 2
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