LYSNAR'S CHARGES

Hokitika Guardian, 4 May 1925, Page 4

LYSNAR'S CHARGES

GIiSBORNE EVIDENCE CONTLNUED. OY TELECRAPII —PRESS ASSN., COPYRIGHT. OISBOHNE, May •_>. The Commission was engaged from A p.m. lill IK p.m. yesterday hearing the evidence of K. K. Bowen, an cxdi reel or ol the Poverty Bay farmers' -Meat Coy. lie claimed that the shareholders of the Company had lost £41)8.000 and with the hank's loss this inade the total L'oil.OCil. The loss was due to inefficient management, the purchase of an unsatisfactory steamer, and the laxity of the National Bank in controlling Mr Bysnar in eonneetioii with the overdraft. Of the 42 works in the Dominion theirs was tie- only one width has quarellcd with the (ioveniiueut during the command-cr. .\ficr Hi- Admiral C'odringion purchase. Mr l.ysltar wauled to buy another .steamer. He also wauled to upon a enal-mino at ('odriugton mi the West C;as|. ami const rttc I a railway to ii. Mr l.ysnar was a Her an utter inip.::-.sihility. The claims for shipment of moat -out to Ameiiea amounied to £2n.IKIO and Mr liysiiar delayed setHemoni for two years cad meanwhile buyer' would not e.peraie at the work'. The dircei ers had | Hi-.- ■• -1 Mr l.ysnar lo prailiiee a pretn-rly cudiicd halane- si for the Admiral Codringtuii. He presi'llled a stalenieni siiotvmg a credit hahimt- of £'_’7.o’)i). lad the directors pre—.’d I'm- an audited balance sheet, and when lids was presented il showed

a I-.-- of £l!L!:!K). Dining the lime tin- works were operating Mr Bysuar presented six balance sheets showing a profit and two showing a loss. Bowen idlem,.’.,| (lon Mr Ly-liar's friends had Ooveriinient preference in meat shipments. Cross-examined by Mr .Myel's. witness said lie was one of the stoutest, advocates for Ihe purchase ol the steamer, provided it was a lirsl-ela-s vessel, but when the Admiral Cmlriugton arrived he said that lids money was gone. Cross-examined by Mr lysnar. wi;ness said lie had supported the resolution ihanking Mr Ly'iiar for bis efforts in eonneelinn with the steamer ai (he annual ineoi iug. Ile admitted unwittingly making si at ’-iin-ni s to the t'-spi'i'lor of the Haul: llial the Coy. would loiiM- £21.00 I and ihal he had gone about ili.-'ercdil iug tile Company. (OSBORNE. May 2. TI:,- Commission resumed taking evidence Ibis morning. Mr K. Odervivll. manager of the (dsluiria- Slieejifanners’ Kruzen Meat Company, slated in I'-’lereiue to Mr Jones's sl.'H «-1 in -) 1 1 Ihal the .ileal Board had boon Able for the reduel i-n in killing charges, witness did not think the Board was entitled In any credit I'm- that, as the Company diiip-iy fixed in- own charge'. ie Company did no! pay any commis-ioii to meribaiils for buying. and ihu plai i.’d them al a di-advan!age. Air l.y.'tiar read a cable sent by Mr Jones to Messrs Forsyth and Kra-er regarding Vestey's purchase of the Waipao.'i works, et.iting the Oishono* Slieepfarmers' would p'r.-ler \ ‘ 'ley-, to tak- ov.-r I.vokiN work than In Iniil.l new works. \Yiln. - said h>- had made a . are :l -(-■arch, hill i-nild lind nothing reeord- ,,(! to give auyiuu- authority K‘ make suell a statement i’ll behalf id in- Coin. I> ;l "A-