N.Z.L. & M.A. CO.

Temuka Leader, Issue 2533, 25 July 1893, Page 1

N.Z.L. & M.A. CO.

London, July 21. It is likely that litigation will be resorted to to decide whether £1,800,000 worth of debentures of the Loan and Mercantile Company not converted into debenture stock, will have first charge on the uncalled capital with £1,300,000 of eonverted debentures. It has been found impossible to frame a scheme of reconstruction until Mr Young has completed his examination of the company’s affairs. Mr Justice Williams granted an order for compulsory winding up, and expressed a hope that a more detailed statement of assets would be made. The New Zealand Loan and and Mer-* oantile Agency Company’s directors propose to call up an additional £1,000,000 of capital from the shareholders, and to make the terminable debentures permanent.

THE VICTORIA COURT-MARTIAL. London, July 21. At the Oonrt-martial to-day, an able seamen belonging to H.M.S. Carnperdowu, deposed that Rear-Admiral Markham directed the starboard, engine threequarter speed as.tjwu. The engineer confirmed tips statement. A midshipman declared that the Rear-Admiral ordered the telegraph of the port engine “ Full speed astern.” Captain Apland endorsed RearAdmiral Markbam’a reading of the turning signal. Mr Barr, Navigating Lieutenant of the Oamperdown, deposed that though Ad> miral Markham, Captain Johnstone, and himself wore confident that the evolution ordered, was impossible, Admiral Markham remarked , <! We have got to do it; Tryon means it,” at the same time piping the men to the collision stations. Had the Oamperdown used her screws to aid her helm from the beginning, she could easily have turned in less than 600 yards, but that would not have been performing the evolution. When the ships were end on and turning towards each other the collision could have been averted if the Victoria or Oamperdown had reversed her helm, In his evidence at the Court-martial Dr- Herbert M. Ellis, Fleet Surgeon, in describing the condition of Admiral Tryon, deposed that he had a small running ulcer on one of fiia legs, otherwise he was well, apd not affected by the heat.