SHAREBROKERS FAIL
Drawings Exceeded Profits by £70,390 (Received 7, 8.45 a.m.) MELBOURNE, Oct. 6. Creditors in the bankrupt estate of Ward and Co., formerly sharebrokers, of Melbourtte, were told by the trustee that the drawiugs of the three partuers, William Cowper Ward, Clarence Curweu and A. Keith, exceeded the pro* flts by £70,390 between June 1920 and June 1927. The trustee reported that this excess had been flnanced by the lodging of clients' share certiflcates at the Bank of Australasia for sale on account of the firm. It was particularly noticeable that the majority of tke shatfes remaining in ' the safe-deposit vault at the date of sequestration were either valueless or of such a nature that they could not readily be realised upon. Examination of the debtors will begin at the end of the month.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/HBHETR19371007.2.20
Bibliographic details
Hawke's Bay Herald-Tribune, Volume 81, Issue 12, 7 October 1937, Page 4
Word Count
135SHAREBROKERS FAIL Hawke's Bay Herald-Tribune, Volume 81, Issue 12, 7 October 1937, Page 4
Using This Item
NZME is the copyright owner for the Hawke's Bay Herald-Tribune. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International licence (CC BY-NC-SA 4.0). This newspaper is not available for commercial use without the consent of NZME. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Log in