"
*
The promisor's promise to pay on demand was better
than unpaid capital; p.50.
The books were kept accurately and consistently:
p.12.21.49.
The Report was in fact correct: p.51
(Ross, accountant for the prosecution admits this,
provided that the transactions were not fotitious:
it was not proved that they were flctitious:p.21).
The Report was circulated only to shareholders and
not to the general public: p.27.
He was unanimously chosen voluntary liquidator, and
called in a reputable firm of accountants to
examine the books: p.69.
Contra: it is said that Brewer wished to create the
illusion that the Bank was of good financial standing
(P,64).
In support of this contention, it is said
19
(1) that the Bank purchased expensive buildings for
$240,000; Brewer admits the Bank did this to
create public confidence (p.35); and justifies the
acquisition of such buildings as appropriate for
a sound institution: p.67.
(2) when in financial difficulty, the Bank created a
mortgage instead of claiming on the Promissory
Notes: Brewer claims that the mortgage was
transacted because it was the quickest way to
obtain money: p.32.
Brewer maintains that the possession of a large
nominal capital was a disadvantage and not an
advantage to the Bank: p.35.
On