TRIAL OF KYLSANT
HUGE DEFALCATIONS ALLEGED
United Press Association—By Electric Telegraph.—Copyright.)
LONDON, July 21
The Old Bailey was crowded for the opening of, the Kylsah'tj' case. Justice Wright is presiding. ‘'"D" Sir W.Jowitt, .pitfoecuting, spoke for nearly five hours; "He./said that between 1921 and 1925; • sums taken from the reserve totalled £2,800,000. In addition,, recourse; was made to nonv recurring items,: making a grand total of . £4;4o<),(K}oi";The bajance sheet of 1926 was./falsfe.;,;.Nine; hundred thousand' pounds' was taken from th£/company's accumulated funds that year, but the shareholders were given no hint of anything wrong.
Referring to the separate charges against Lord Kylisant making a false statement in a prospectus, Sir W. Jowitt said the prospectus must have been intended to deceive the. unfortunate people who invest in the concern. The hearing was adjourned.-
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Hokitika Guardian, 22 July 1931, Page 3
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132TRIAL OF KYLSANT Hokitika Guardian, 22 July 1931, Page 3
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