BANKRUPT FINANCIER

Sun (Auckland), Volume III, Issue 833, 29 November 1929, Page 9

BANKRUPT FINANCIER

PROMINENT LONDONER FILES AN AMAZING CAREER LONDON, Thursday. Henry Spence Horne, a prominent London financier, has filed a petition in bankruptcy, and at the same time resigned his directorships. The latter include British Cement Products, Anglo-Foreign Newspapers, Limited, the Carmelite Trust and others known as the H. S. Horne group. These companies have been the subject of considerable speculation in recent years. It is understood that they are not seriously affected by Horne’s failure.

Bankrupt is only 36 years old. He fought in the Great War and was invalided home. Then he entered a stockbroker’s office in London as a clerk, became a partiler in the firm and ultimately its head. He decided in 1929 that there were big possibilities in cement and he launched the Anglo-Atlantic Corporation. In 1923 Horne became one of the most discussed men in the city. He bought a beautiful old manor house in Sussex with 4,500 acres of land—a wonder farm —where he spent his week-ends. His concerns were amazingly successful. A few years ago—even in 1927-8 — the profits on some of the shares were more than 300 per cent. *

Sir Robert Donald, deputy chairman of Anglo-Foreign Newspapers, informed a representative of the “Daily Chronicle” that his company would not suffer loss. It was separated about a week ago from the other Horne companies, went into new offices and changed the personnel of the board.