The Panama Company Again.

Manawatu Herald, 19 July 1894, Page 3

The Panama Company Again.

The First Civil Court of the Seine lately gave judgment in the action brought against M. Hugo, Oberndoeffer, the great financier, by the liquidator and representative of the shareholders of the Panama Company, for restitution of 8,985,854fr., received by him from the company's funds, on account of " services," which it was contended were not rendered. The judgment of the Court declared that in March, 1888, the credit of the company was good, and there was no need for recourse to so onerous an expedient as syndicates. It therefore treated the supposed syndicates whose organisation acV counted for a large part of the sum paid to M. Oberndoeffer, as bodies running no risk, and whose business was simply to assure to their members the largest possible benefits without reference to the interests of the Company. The judgment also declined to consider M. Oberndoeffer as the originator of the guarantee scheme ; and concluded therefore that the greater part ot the money paid to him as not legally due, and was {paid simply to disarm the hostility of an influential stockJwroker. As a result M. Oberndoeffer was ordered to refund 8,653,201fr. 90cs. and interest from the date of receipt, %% well as the costs of the, case.

WORTHY OF ATTENTION. A pin piMfcg upwards from an easy chair of tea ciSjSes more attention than it deserves, bat dal? not receive an encore. So people who " have used other Coffees and bad no satisfaction, are not likely to purchase them •gain, but after buying Crease's A.I, Coftra they will always sea they get it. tor Uil the bwt,