THE KYSLAND CASE

Hokitika Guardian, 10 June 1931, Page 2

THE KYSLAND CASE

INVOLVED FINANCE. OBJECTIONS TO EVIDENCE, [United Press Association—By Electric Telegraph.-—Copyright, i LONDON, June 8. The Kylsant case is remarkable for the extraordinary number of discussions and-objections to evidence. Lord Plender, giving evidence itn nearly three-quarters of an hour, sain that the Royal Mail Steam Packet Uo. asked the Government to permit a postponement of the meeting of its obligations and loans under the- Trade Facilities Act. The Treasury appointed Sir William McClintock to investigate the interlocking interests of various companies. Sir William McClintock decided that mi’ amalgamation of ships companies was impracticable, because they did not face their whole problems, while in most companies the position was rapidly approaching— Here Sir J. Simon, defending Lord Kylsant, intervened, objecting to the evidence, which it was agreed should bo partly deleted. Lord Plunder, continuing his evidence, said that the Treasury meeting decided that reconstruction was impracticable, and a meeting of bankers, bill holders, and creditors was arranged. Sir P. Hastings, appearing for Aforland, interposed, and asked that all the evidence be taped out., as it did not affect the criminal charge. Air Pitt contended that it was merely aimed to enable the Lord Mayor, as presiding Magistrate, to understand the. case.

The Lord Mayor agreed to deleting the whole of the evidence.

Sir William McClintock, in his evidence. salt! that the Pacific Steam Navigation Co’s accounts for 1926 showed a profit of £60,637, whereas, according to his figures, there was a loss of £183.760.