White the Defaulter.

Manawatu Standard, Volume 3, Issue 31, 2 January 1883, Page 2

White the Defaulter.

I WELLINGTON BUILDING ! SOCIETY, 1873. The annual general meeting of the shareholders m the Wellington Build* ing Society, 1373, was held at the Chamber df Commerce, on Friday. A.bout 25 shareholders were present. Mr T. McKenzie, who was voted to the chair, read the advertisement conn vening the meeting, and said it was necessary to make an explanation of the circumstances under which they met. On November 3rd last, Mr C. White, their secretary informed the committee that he had been m very indifferent health for some time past, and that he was anxious to avail himself of an opportunity to visit the Hob Lake Diss trict which Jiad been offered by Mr A. Young. The committee considered the matter, and having compared the steward's book and the bank-book, and found them to correspond m every par* ticular, they granted him ten days' leave of absence. When he did not return they did not at once suspect that ■anything was wrong, »Jbut eventually .they came to the conclusion that they would liave to employ' another actuary.' They selected Mr Widdop, who, had the books m his possession. The work could not be disposed of very quickly, and some* thing yet remained to be done before the books could be handed over to the auditors for their report. It was their desire m the interests of the society to have the books thoroughly examined, and to do this another ten days were required;' Their solicitor had recommended them to adjourn the meeting for a month) which hie thought was a. very reasonable period, as it would give them time to go thoroughly into the matter and to plane the balance-sheet into the hands of shareholders a week before the meeting. The committee had been. very, busy on. account of the defalcations .which- had been discovered, and would not be m a position to present a full statement of the 'accounts at an earlier date. The committee had taken steps immediately when they found that the secretary did not show up, and that deficiencies existed, and had placed the matter m the hands of the police. They were very anxious that Mr White should be brought back and made to answer for his defalcations), and he himself would give every assistance m his power to carry out that object. He assured them that their interests were looked after most faithfully. Replying to questions,. Mr M'Kenzie said that leave of absence had been given to:Mr White by the committee, which had held a special meeting to consider the subject. It did not strike them that they, were giviag leave of absence to Mr White, at a time when he should bet at his balance-sheets, as there was plenty of time to complete these m time for their annual meeting after the date upon which he should return. They had- found the steward's oash»book entered up to date. Mr Gell, roplying to further questions put by shareholders, said that he would, be very happy to supply all information

m his power it" shareholders: called .--at the office. Mr White was anything but well when he left. Neither he (Mr Gell) nor any of his fellowidirectors were aware that there had been a deficiency of £200 last year caused by Mr White's son, and thab ; the amount had been made up. It would be highly injudicious to allow the amount of the defalcations which had been ascertained 1 to become known at the present period. There were bondsmen for the sum of. £500, and he was sorry to say he himself was one of them. Before the society could lose a Bingle penny these bojndsmen would have to pay up the amount of their bonds. On. the motion pi Mr Laing, seconded by Mr Waters, it was resolved that the meeting be adjourned until Tuesday, Ijhe 30th January next. ' " " Mr Gell said there was another matter which the committee was anxious to lay before the shareholders. If Mr White r were still in 1 the colony .he would have i been brought to justice before that day, j but as they had reason to believe; that, he had gone beyond the colony, they desired to know the opinion of. the majorifcyof the shareholders as to wliat should be done. They were advised that until the amount of the defalcations had been ascertained the police could do nothing to bring him back. Mr McKenzie said when the next San* Francisco .steamer arrived, they would probably Tinbw— fox certain whether Mr White had left for AmerfcTT or not, as the mail agent .would be able to give them some information on the subject. He detailed the circumstances under which Mr White had been seen aboard the outward bound San Erancisco steamer, which have already been published, adding that they had been made known owing to the exertions of Mr Geii. /' : :' : . .. ■' ' . .; , ' ,-"-... ;.-,• The. shareholders being of opinion that no business should be transacted after the motion for adjournment had' been carried, the meeting was declared to have, been adjourned accordingly. i