SAVINGS FUNDS MISUSED
60 AND 80 PER CENT. INTEREST
TO MONEY-LENDERS
A charge of misappropriating money entrusted to him by his fellowworkers was heard at the Manchester City Police Court against a Manchester tramway employee.
It was explained that for a number of years defendant had received weekly sums which were contributed by tramway men towards a holiday club, a picnic fund, and a savings club. He got into difficulties and it was found that the funds were short, the total deficit being about £2OO.
Counsel for the defence said his client had hitherto borne an exemplary character. After he got into difficulties with his accounts, largely through paying out more than he should have done, he resorted to mon-ey-lenders, who had charged him as much as 60 and 80 per cent, interest. In interest alone he had paid out £212 and all the money he had had from the tramway funds had gone to pay the money-lenders. The defendant was sentenced to six months imprisonment.
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https://paperspast.natlib.govt.nz/newspapers/HPGAZ19260201.2.32
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Hauraki Plains Gazette, Volume XXXVII, Issue 4933, 1 February 1926, Page 4
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166SAVINGS FUNDS MISUSED Hauraki Plains Gazette, Volume XXXVII, Issue 4933, 1 February 1926, Page 4
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