The Loan and Mercantile Company.
MORE DAMAGING STATEMENTS. (PEB PBEBS ASSOCIATION.) London, April 5. In his examination before Mr Justice Williams, concerning the New Zealand Loan and Mercantile Agency Company, Mr Falconer Larkworthy said in 1890 he reported that there were further difficulties, and that the reserves were exhausted, but the Board took no notice of the matter, Losses amounting to .£848,000 appeared on the balance-sheet as an asset, and the statement of profits presented in 1889 included interest on that sum, although it bad not been paid. He added that only the Right Hon. A. J. Mundella, one of the Directors, supported him in proposing that an independent inspector should be employed to inspect the Company's properties and report direct to the London Board.
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Bibliographic details
Feilding Star, Volume XV, Issue 281, 6 April 1894, Page 2
Word Count
125The Loan and Mercantile Company. Feilding Star, Volume XV, Issue 281, 6 April 1894, Page 2
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