MR LYSNAR’S CHARGES

Hokitika Guardian, 28 March 1925, Page 2

MR LYSNAR’S CHARGES

THli FARMERS’ STFaMFK

[nv TELEGRAPH —rER PRESS ASSOCIATION.]

NYKLLINGTON, March 27.

The cross-examination of Mr Lysnar before the Meat NVorks Commission concluded this morning, and evidence was then called hv Mr Myers in support of the case of the National Bank.

Mr Myers asked Mr Lysnar: Do you means, to suggest to the Commission, or any sensible mail, that the hanks would recommend their clients or tho public to invest in debentures of tho Poverty Bay Company as it stood in 1923? ‘

Mr Lysnar replied: 1 do, and I can prove it. He added that he approached each of the managers who wrote to their head office recommending it to support their company. They expressed satisfaction that the company’s works were good enough. Ttie lives of the directors of the company were misery and hell upon earth through the negotiations with the National Bank. Mr Myers said ho was sure that Mr Jolly (hank manager) reciprocated that hut from the opposite viewpoint. The dealings with the Bank, continued Mr Lysnar, were like getting blood out of a stone.

Mr Johnston then read the following note made hv Air Jolly, conc-ein-ing Mr Lysnar’s alleged proposal to dispose of the Admiral Codrington to an overseas shipping comany. “Lvsnar informed me that he had put up the proposal to Findlay of the Shaw Savill and Albion Company, and that as the price of Lysnar not assisting or promoting a Shipping Board Bill, the Shaw Savill and Albion Company should take over the Admiral Codrington at £160,000 to £170.000 hut if they did not do so he would press for a Shipping Board Bill which the Liberal and Labour Parties would support, and that when the Board was formed, the Poverty Bay ATeat Company would unload tlie Admiral Codrington on to the Board at £150,000.”

Mr Lysnar said he had heard that or the first time. “Mr Jolly,” said counsel, “has undo a note in his diary that he told

■on that.” “Then he lias made an erroneous A. mte absolutely.” said Mr Lysnar, add-

ing that when he mentioned it to a shipping company he made no offer. Witness said the boat was for sale, and if the man chose to get his people to make an offer it would he entertained.