ANOTHER FAILURE

Hokitika Guardian, 29 November 1929, Page 1

ANOTHER FAILURE

LONDON FINANCIER

[United Press Association—By Electric Telegraph.—Copyright.]

LONDON, Nov. 27

Henry Spence Horne, a prominent City financier, ha's filed a petition in bankruptcy. He lias simultaneously resigned several directorships, including the British Cement Products, Anglo-Foreign Newspapers Ltd., the Carmelite Trust, and others connected with the so-called “H. S. Horne Group,” which have been subject to considerable speculation during recent years. It is understood that the companies are not seriously affected by Horne’s failure.

A ROMANTIC CAREER,

LONDON, Nov. 28

H. S. Horne, who has become bankrupt, is only 36 years of age. He joined up in war time. Being invalided home, he entered a London Stockbrokers’ office as a clerk He then became a partner, and ultimately the head of the firm. He decided in 192,, that there were big possibilities in cement, and he launched the AngloCement Corporation. Ip 1923 he became one of the most discussed men in the city. He bought a beautiful - old manor house in Sussex, with 4500 acres. This was a wonder farm, where he spent his week ends. Horne’s concerns were amazingly successful a few years ago. Even in tue year 1927-28, the profits of some of the shares were over three hundred per cent. Sir Robert Donald, Deputy Chairman of the Anglo-Foreign Newspapers told the “Daily Chronicle” that this company would not suffer any loss. It was separated about a week ago from the other Horne Companies, and went into new offices, changing the personnel of its Board.