HATRY CASE

Hokitika Guardian, 18 December 1929, Page 3

HATRY CASE

COMMITTED for trial. i [United Press Association.—By Electric Telegraph.—Copyright.] LONDON, Dec. IG. In tile Ha try ease, Sir Garnsey giving evidence said tlie total liabilities of the six association companies in. the Hairy group amounted to twenty-nine and a half millions, not including thei share capital which was not secured. Claims totalled thirteen and three-quarters millions. There was little prospect of a dividend 'for unsecured creditors. The total deficiency was likely to exceed thirteen and a half millions. Tho gross liabilities of Austin Friars Trust wore nineteen millions, of which about six millions represented intcjr-oonipamy liabilities and claims. Its main assets were represented by investments in tho associated companies of a hook value of about elevein. and a half millions, of which it is estimated the value F about thirty-seven- hundred thousand. He was of opinion that the Austin Friars Trust had never been solvent. Gernsey cross-examined, agreed that tho defendants, loyally assisted during His investigations. Ho agreed that not a single penny of the monies, subject to those charges could bo traced to the pocket of Ha try or the other defendants. Personally he had no reason for believing they made any profit for themselves. AH the monev went in Austin Friars investment trust. Committal charges were read afte: which the Magistrate asked defendants if they had anything to say. Hatrv replied: “I plead not guilt; and reserve my defence. I -adhere in every way to the original statement concerning my primary responsibility.” The four were committed for trial, bail being refused. LONDON, Dec. 16. In a voice trembling with emotion. Hatrv said: “I pledged every penny, my reputation, aiid maybe my liberty, to avert, what otherwise might have been a terrible crash, whereas T eouh have walked off a free man, but tb r losses then would have 1 alien on thousands of shareholders throughout the country instead of on a comparative!} few. I am irretrievably, irreparably ruined. Afv name has become a byword. If ‘f/ound guiljty punishment will be given when released.” Garnsey gave evidence that since 1925 Hatry received £42,526 remuneration, Daniels £23,545, Dixon £11,560 and Tabor £5.065. Daniels was a creditor to the companies to the extent of £128,298,. but holds securities istimated at a value of £50,000.