HORSE DEALING

Taranaki Central Press, Volume IV, Issue 444, 27 May 1937, Page 4

HORSE DEALING

PARTNERSHIP DISSOLVED Taking Of Accounts A horse-dealing partnership formed between William Lovett and Lawrence Cameron was declared dissolved from 'April 17, 1937, when an unopposed application was made to Mr Justice Ostler at New Plymouth yesterday. A decree was also made lor the taking of accounts before uie registrar. Leave to appoint, a receiver and the question of costs were reserved. LovetT, a retired tettler living at J Stratford, said he entered partnership I with Cameron, a Ngaere farmer, in I September, 1933. Witness supplied £lO6O and the arrangement was that Cameron was to do the horse-dealing, graze the horses on his farm and keep details of transactions. Later witness believed things were not right and he saw E. H. Young, solicitor, who wrote Cameron on March 21, 1936. As a result Cameron visited: witness and they discusted dissolution. “I asked him to Kive me full particulars of his dealings,” said Lovett, “and I got a sort of statement but It wat not correct." Witness agreed to give Cameron three months in which to dispose of “the remaining 30 draught horses, but since then he had not been able to get any satisfaction from Cameron. The only assets witnest could trace definitely were in the passbook of the partnership accounts. To His Honour: No cheques had been drawn by Cameron since witness stopped him. In the course of interviews 1 Cameron admit ed he had taken £l3O of the partnership moneys for his own use, said Lovett. Cameron was very sorry and said he thought he would have been able to make it good, but he had not been able to do so. Since the writ was served’ thCre had been a further interview between Mr Young, witness and Cameron. Cameron wanted witness to give him three weeks in which to sell seven horses, Cameron saying he could pay £2OO into the partnership accoun s Witness pointed out to the’ court, however, that the seven horses were hacks worth from £4 <to £7 and were acquired contrary to witness’ instructions. Witness had. not received any payments from the partnership. Edgar Herries Young, solicitor, Stratford, saidi Lovett and Cameron called on him on May 17 after the issue of the writ. Cameron then admitted having money not accounted for itnd he was •particularly anxious to prevent the matter going to court. He said he had lost the books of the partnership. Mr N H. Moss appeared in support of the application.