Bank Directors Committed for Trial.

Feilding Star, Volume XVIII, Issue 48, 25 August 1896, Page 2

Bank Directors Committed for Trial.

STRONG REAIAKKS m- the MAGISTRATE. (Per Press Association.) iMIiLHOI'KSR, Aunust 24. In the City Court to-d.iy the charges against the Directors and Auditors of the City of Melbourne B»»k in connrction with the alloyed is^uc of false j balance .sheets, was concluded. The ! defendants were Thomas Loader, James Willinn.,son, John Lloyd Roberts and Jenkin Collier, Directors, and Androw Burns, and James Blackruorc McQuail, Audit >rs. The Bend), which comprised Mr Panton, P.M., Captain liussell and Mr E. Power, J.'s.P., committed the accused for trial. Later. At the trial of the accused in the case of tho City of Melbourne Bank, the Mn^'i'-sti'i-i'o Knid the diroctors had cuclpii ] V(i:ircd to check the overdrafts, but still j went ou increasing them until the lt boom " burst. Then the directors rraii-icd the losh that stmed the Bank in the face, and measures we re adopted which were known by defendants to be reckless. Certain accounts were so manipulated by the mantij/er that the books were actually falsified. It bad turned out since, and waa proved by evidence, that the manager was untruthful, and was capable of using the Bank funds for his own purposes. As to the auditors, he said, had they done their duty the present proceedings would never have been necessary.