NEW ZEALAND OILFIELDS.

Taranaki Daily News, Volume LVII, Issue 205, 6 February 1915, Page 3

NEW ZEALAND OILFIELDS.

THE OLD BAILEY TRIAL. G. MACDONALD SENTENCED. London, December 22. The trial was begun at the Old Bailey on Thursday and only finished six days later, of George Macdonald, late managing director of the New Zealand Oilfields, Limited. Macdonald was indicted for fraudulently applying to his own use a cheque for £7500 belonging to the company. Air. Muir prosecuted on behalf of the Director of Public Prosecutions, and the prisoner was rqiresented by Mr. Macoun. The evidence was largely a repetition of that given at the Guildhall on the several occasions on which the case was heard by Alderman Sir John Bell, who finally committed Macdonald for trial. The Common Sergeant gave tile case a very patient hearing. The -prosecution alleged that accused obtained the cheque in November, 1911, and gave a receipt that it was for the acquisition . of tlie Gisbornc Oil Company's .plant . and well. Mr. Henderson, the company's ■ engineer, wdio wits sent out to inspect the property, did not, however, report ; favorably, and the company did not pur- i chase it. Accused paid the money into ] his own account and used it for pur- i 1 poses of his own, including the payment ! of nearly £4OOO for calls on Algerian : Oil shares, with which the New Zealand Oil Company had nothing to do. By :> so doing he put it absolutely out of his power to do the very thing for which he, said he obtained the £7500. For the defence it was urged that th». money was a loan, and that there wag no fraudulent intent. (Accused was a wealthy man at the time and in a posU tion to repay the money. He produced a statement of accounts -showing that in ■ November, Ift'll. he had £150.000 assets as against ,-C.fli()00 liabilities, The jury found the aivuseil guilty, and thi l Common Sergeant sentenced , him to six month*' imprisonment in the j ' second division. i __ . | :