A DEFAULTING MANAGER.

Gisborne Times, Volume XXVII, Issue 2417, 4 February 1909, Page 5

A DEFAULTING MANAGER.

CHRISTCHURCH SENSATION

ALLEGED SERIOUS .DEFALCATIONS. [Press Association.] CHRISTCHURCH. Feb. 3. A ivarrant has been issued for the arrest of the manager of a local coal company. It is stated that information regarding bis whereabouts ivill be ivelcomed by seimral creditors as ivell as shareholders in the company. He seems to have left Christchurch on Wednesday last, and as he did not return by the end of the week investigation ivas made into the affairs of the company. Books and documents tiiat should have been under his charge ivere found to be missing. Further inquiry shoived there had been defalcations of a serious nature. The police are endeavoring to ascertain what lias become of tlie man, but so far" without success. It seems quite probable that lie has left New Zealand, but no substantial clue to Ins movements has been secured. In tho meantime steps have been taken to ascertain tlie position of tlie company’s accounts. Up to the present it lias not been jiossib’e to secure the exact figure i as to ti e extent of tlie delideations. Tt is understood that some busine s men liave been victimised to the extent of a considerable sum of money. Later. With rega: 1 to the missing manager of a loci-! co 1 ! 1-dealing company, it is stated F at the warrant issued for his arrest charges him ndth the theft of tlie e nnpany’s books. Serious defalcations are alleged, but in tlie absence of documentary evidence, it is not possible to say lioiv the finances of the company stand. It is understood that tlie directors liad decided to ivind up the concern, but when search was made for tlie books no trace could be found of them. Tlie creditors of the company are said to be fully protected, and it is expected that tlie doss will fall on the two or three gentlemen ivlio constitute the company.