FRENCH FORGERY FRAUDS

Gisborne Times, Volume XXXVI, Issue 3407, 11 August 1913, Page 5

FRENCH FORGERY FRAUDS

DEFERDUSSIX ON TRIAL. EXPLAINS MATTERS TO MAGISTRATE. [UNITED PRESS ASSOCIATION—COPYRIGHT.] PARIS. Aug. 8. Strenuous efforts are being made to prevent tlie stoppage of the Deperdussin aeroplane works. The Army possesses many Deperdussin machines, which are likely to become useless if the works are closed, owing to the difficulty of testing and repairing them. Deperdussin told the Magistrate that he spent the money in aviation. He had refused a large sum to sell his secrets to Germany. HOW HE DELUDED THE BANK. A CLEVER RASCAL. (Received Aug. 10, 5.5 p.m.) PARIS, Aug. 10. Deperdussin explained to the Magistrate how he_ deluded the bank. When in financial difficulties in 1902, he submitted a scheme to the bank for buying silk for cash and selling it to leading Parisian houses on credit. The profit was never below 12 per centum, whereof he paid 8 per cent, to the bank. He became intoxicated with success and turned to dishonest means and speculated on a colossal scale. He gained the bank’s confidence and lulled it into security by paying its share of the interest out of the advances. He spent the money in sporting and aviation enterprise. He declared that ho liad not seen a yard of silk for years.