TELEGRAMS

Hokitika Guardian, 17 June 1921, Page 3

TELEGRAMS

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COST OF LIVING DECISION. PALMERSTON N.. June 15,

The judgment of the Arbitration Court on the application for reconsideration of the cost of living pronouncement on May 14th., 1921, was announced to-day. The application was l .used, and the Court adheres to the original pronouncement.

BANK INTEREST RATES. WELLINGTON, June 16

The following are tlie rates of interest to he paid hy the bankers on tixed deposits as from June 20, 1921 ; three months 3J per cent ;six months 3} per cent; 12 months, 4 per cent ;two years l.i per cent.

COMPANY SECRETARY SUED. NAPIER, June 16

The Supreme Court was occupied all day and until 10.10 to-night in hearing a civil case in which the Coromandel Granite Company claimed 6706 from John William Findlay, Public Accountant. The sum claimed was advanced as a result of alleged misrepresentation of the state of the company’s accounts hy the defendant when he was secretary. Defendant showed a profit on tlie whole of tlie company’s workings at Napier, Auckland and Wanganui of 6218 7s Id. There was, according to his statement, a profit of C2OO in Napier and Hastings, in view of which the directors advanced bonuses to the Works Manager at Napier and to defendant. A refund of these was claimed, and also a return of defendant’s salary. The plaintiff company also alleged that Findlay had failed to keep proper books, and charged him with negligence. An auditor who examined the accounts put the company’s loss down at. 65347 los 3d.

Messrs Gray, K.C., and J. Mason appeared for the plaintiffs, and Messrs Mvers nnd M. R. Grant for defendant. The ease for the defence has not yet been presented.