UNAUTHORISED PROSPECTUS

Taranaki Daily News, Volume LIII, Issue 60, 20 June 1910, Page 5

UNAUTHORISED PROSPECTUS

WELLINGTON HARBOR LOAN., A MEMBER'S CHALLENGE. By Telegraph—Pres3 Association. Wellington, Saturday. Further discussion took place at the meeting of 'the Harbor Board, on the question of the issue of an unauthorised prospectus in London for half a million loan. This had been signed "T. M. Milford," evidently a mutilation of their chairman's name, T. M. Wilford. A letter was read from the National Bank stating that the prospectus was prepared by a London firm, and handed to the Hon'. T. K. Macdonald for perusal ,md correction, as was frequently done. The chairman's name was attached to the statistics, the firm being under the impression that his signature would be forthcoming. The circular was withdrawn, as the negotiations fell through. Mr. Wilford expressed satisfaction at the letter, which he said absolved him| from the blame that had been put on him. Other members, of the Board were still dissatisfied, and wanted to know why Mr. Macdonald had not explained the matter.

The latter resented this, and asked them if they thought him guilty of any impropriety to say so straight out, whereupon one member said that he did. Mr. Macdonald challenged his opponent to formulate a series of resolutions, and said: "I will sue them for libel, »nd then we. can have the whole thing thrashed out."

Messrs. Harkness and Cohen took up the challenge, and the discussion closed there.