CO129-535-4 N.I. Brewer- petition for pardon 28-5-1931 - 24-10-1931 — Page 19

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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

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(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