RUINED MAN'S OUTBURST.

Shannon News, 17 February 1925, Page 2

RUINED MAN'S OUTBURST.

SENSATION IN COURT. LONDON, February 1. John Mitchell, one of six brothers comprising a firm of sanitary engineers, whQ have brought an action of alleged negligence against W. B. Peat, of a famous firm of accountants, in the course of a passionate outburst in court, said, "We lost our whole business and our entire fortune for 655, which would have been the co§t of removing a distraint upon the company, for £6l. it is the wickedest thing—'' He did not finish the sentence, but collapsed in tne witness-box. Tile hearing was adjourned. Later it was announced that Mitchell was seriously ill. (The Mitchells, who built up a business worth £250,000 in 1908, each receiving irom £IO,OOO to £12,000 a year, claim that negligence in financial advice reduced them to penury in three and a-haSf years.. They allege that Sir Harry Peat' admitted that his firm's method of reconstructing the company left the Mitchells too short of cash. Subsequently, after participating in the control, Peat's firm refused to sign a snuiili cheque, thus, enabling the debenture-holders to appoint a receiver.)