Q.
A.
6
Q..
A.
35.
37
If people were so anxious to buy up your shares, why did you get up this document. I merely thought a letter would have been sufficent.
If I had merely go such a letter, it would have been of no advantage in aiding the manager when he came in, he could not have forced these people if he wanted. why ude the force?.
I wanted things in even a way hat he could turn round and say: I beve got my hands on this money to use au I want. The people did not object when they signed the applicatior forti, why should they object". why did you not make a preliminary call?.
Then i would have had to through a lot of prelimin- aries. I can assure you thut it was done with the best intention in the world. receive any coloured fea®
The directoru did not merely $250.00 a year »
BY COURT
349
13
A.
liow many directorg ware there?.
About 19 or £0.
Supposing there had been some fraud in comection with this Company, the Directors would have been in ES WERK a position sueing on these notes as they muld have been making a call?.
Possibly.
Therefore these notes are not entirely unconnected with the calls on the shares?. I don't quite see the auvantege over a call on the shares.
We could only make e call of 35% at one time, except by waiting three ronths.
(Articles of Agenciation 14 read).
One mouth, not three months.
Mr. Fitzroya
4.
A.
23 23 23E
A.
S2323 23 23 23 23
A.
Article 16 alters that.
I understand Er, Frewer that the first years profit was $90,000.00 cdñ. An I right?.
quite correct, my Lord.
Ordinary banking bueinees.
your cliente for investment?. Yes among other things.
what else?.
You received money from
We would look after persone' affaica for then, if they were wanting a hɔliday, collest rents, we haid Powers of Attorney to collect dividende, anything on behalf of FERNER to clients
service
You say it was a trustee bank?,
Private Brokers as well.
Your business depended on having public confidance?. Yes.
For that purpose you wanted your building in Des Voeux Road?.
Yeb.
Was any statement issued in print to the public about about the capital of the Company at any time?.
Not until the Balance sheet was issued in July, 1923. That was the first printed statement issued to the public?.
Yes. That was the first printed statement issued to the public. (Balance Sheet handed to jury and read) That is a statement. It purports to be a statement of the fully paid shares,
I don't think it does, my Lord,
I suggest to you that it was important to have the Bank's capital axx described in several hundred thou- sands?.
On the contrary I think it did us a great deal of harm.
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