J. D. WILLIAMS CO.

New Zealand Times, Volume XXXVII, Issue 8341, 30 January 1913, Page 9

J. D. WILLIAMS CO.

ALLEGED FORGERY CHARGE AGAINST AN EXEMPLOVEE. MATTER OF 40,000 SHARES. SYDNEY, January 25.. There was considerable excitement ill financial circles yesterday owing to a report that a warrant for alleged forgery had been issued against an cx-ofli-cual belonging to the Greater J. D. Williams Company, involving _ soma 40,000 shares. The subscribed caxiital of the company is UISU.SU6, so that the order for the scrip winch is alleged to hare been forged represents nearly onefourth of the total.

This incident came upon the company at a critical time, according to one of the directors, Mr H. Y. Russell, who last night explained that the launching of so much scrip on the market naturally tended in the direction of a slump, especially when the .bears had been at work pulling down with all their might for some time past. But ho says that the company will survive those troubles. He admits that the position will need careful handling during the next ten days, during which time it is hoped to consummate the amalgamation of interests in the theatre business recently arranged, and which will mako for efficiency and economy. It is understood that tho operations on tho Stock Exchange in the scrip of this company* during tho past few days have run into about 100,000. This includes the ordinary transactions as well as the extraordinary ones in the launching of the scrip which was tho result of tho alleged forged order. “I admit,” said Mr Russell, “that tho present position has been acute owning to certain claims upon tho company, but there is no need for any alarm. After tho amalgamation is completed there will bo great savings effected in various ways. It will stop disastrous competition, secure economy in production, and concentrate expenses in management. A statement is now being prepared which will be placed before a meeting of tho shareholders in a few days.” A meeting of the board of directors was held yesterday afternoon. Tho directors of the company aro annoyed at the incident of alleged forged scrip having boon so closely associated with tho affairs of tho company. They point out that there was no ground for any such association, the transactions alleged, if any, being entirely concerned with an ox-employee. It was pointed out last night that tho sale of the scrip alleged to have'been forged would not directly affect the company’s affairs. Tho losses would have to be borne by others—tho dealers in the scrip. Towards tho end of 1911 the shares in tho J. D. Williams Company touched as high as Sis. On the announcement by the authority of tho board, however, that one of tho quarterly interim dividends was not to be paid, a sudden fall took place, and shares went down below par. Last week the shares fell 6s IJd; this week 2s 9d. Mr J. D. Williams, on being seen tho other night, said he could not account for it. It was, he supposed, “some game of the brokers.” There seemed to bo a fresh move about every day, he complained. Yesterday sales were effected down to 7s for cash, and 6s 10id for six weeks’ delivery.

An Auckland telegram on Monday recorded the arrest of Francis Shortall Lloyd, late manager for the Greater J. D. Williams Amusement Company, charged with “having, on or about October 31st, 1912, at Sydney, forged an order directing Farmer and Brownhill, and Legoe and Brag, to purchase shares in the Greater J. D. Williams Amusement Company, with intent to dofraud.” ___