CO129-535-5 N.I. Brewer- transcript of trial and evidence 1-1-1929 - 31-12-1931 — Page 26

Mr. Kravara

Hr. Fitzroya

His Lordships

Brewer &

Mr

His Lordship: Mr. Fitzroy:

Mr. Brewer i

24.

26

If he would be released as a witness, but so long as he is under bond as a Crown witness, it is impossible for me to get a statement from him. As Crew witness for the other counts, he is not prepared to witness for me on this count. You are at liberty to get any statement you like from him.

He is at your disposal Mr. Erewar.

Fill Mr. Fitzroy tell him, because at present he Leals bound and will not give any statement for

ma.

Hr. Fitzroy will assist you.

I have no objections, he can ask him anything he likes.

Thank you.

I wish to put forward a further point in the Public Lxamination on page 44 starting at the 4th paragraph.

read same to Jury).

(r. Brewer

NOEL ISTONE FREVER SWORN AND EXAMINED BY THE COURT.

943 23 23

A.

You have before you the Statutory Report?. Y65.

You accept responsibility for drawing it and signing it?.

Yes, for drawing it and signing it.

You were at that time a Director of the Instone Banking Corporasion Limited?.

I was, my Lord.

You will explain to the Juyy how you came to certify that the shares were all allotted in consideration of cash.

MR. BREWER addressing the Jurys

The shares were all allotted in consideration of cash, which means, cat the person liable to pay in full for cash and under no other consider ation. In every case where applications were made for shares the persons agreed to pay so much on application and the remaineder in accord ance with the Articles of Association, which called for a demand of cash on call by the Dir- Goters. The Statutory report states that the ompany received $876,750.00 in cash on these chures, it also states that loans, etc., wer e $793,730.00. The reason why it is put this way is because the Statutory Report was made from our books. Our books declared that much cash as received and that much lent. As to how this item came into our books in that manner has already been explained. But I will explain it again. The Company received applications for shares to the extent of $2,800,000(?). approximately. I was inexperienced in banking. I had been placed in charge of the Instone Bank solely for the purpose of organisation. It had been the intention to obtain a qualified Bank- manager, to replace me at the earliest possible date. When he did not appear and the share applications for $2,800,000 did appear, I was not prepared to accept the responsibility of accepté ing all that cash. At that time I had no doubt as to the genuiness of these applications, be- cause the Directors and myself had been at logge heads over the question of big and small capital