LORD KYLSANT
APPEALED DISMISSED.
[United Praia Association.—By Elect™ Telegraph.—(Copyright.] LONDON; November 4. Lord Kylsant’s application to reduce his sentence .was dismissed. > ’ NO MISDIRECTION. JUSTICE AVORY REVIEWS CASE. (Received this day at 10.15 a.m.) LONDON, November 4. Lord Kylsant is likely to appeal to the House of Lords. , ;i A friend of Lord Kylsant said that the latter received the decision with the same calm and dignity that he maintained throughout the case. Justice Avory, speaking deliberately and le*gtliily, surveyed tlie history of the case, and expressed the opinion that there was ample evidence upon which the, jury/ could reach a coiiclus- . -am; ion. The prospectus was fnl/se- in material, he said, in particular in that it conveyed a false impression by putting before the investors'' figures which apparently disclosed the existing position of the company, but the- fact was concealed in other words. The docu-. ment implied that the company was in a sound financial position, and that prudent /investors’ '/could Safely invest therein. ■ s This implication arose particularly from the statement of dividends regularly paid over a period of years. It was misleading because they were paid, not from current earnings, but from earnings during abnormal wartime period, and it was omitted from the document. If there ivas evidence that the document was. false in particulars as already indicated, there would be ample evidence Upon which the jury could find. Appellant this’ falsity knowing as he did the’nieatis whereby the dividend was paid/ The Court unanimously came to the conclusion that there was no misdirection. The jury had ample evidence upon which a verdict must be supported, so the apneal was dismissed. . • Justice Avery, after a brief consultation with his colleagues, added, that the Court was of the opinion that direction to the jury was too favourable. Ladv Kylsant and Earl Coventry saw Lord Kylsant hofore be was token to prison in. a taxi.
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Hokitika Guardian, 5 November 1931, Page 5
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315LORD KYLSANT Hokitika Guardian, 5 November 1931, Page 5
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