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Alleged share hawking

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Monday 24 January 1938, The Sydney Morning Herald

Charge Against Manager.


The case of alleged share hawking against Arnold Lovell, 46, manager entered upon the third day of hearing at the Armidale Police Court on Saturday morning before Mr G. J. Johnstone, P.M. It was announced that one witness was flood-bound at his home at Wollomombi and would not be able to attend the Court until Monday.

John Macansh Hudson, grazier of Bannweera Station, near Uralla, said that he had been interviewed at Balala woolshed, near Uralla, by Lovell who had stated that Hamiltons (Australasia), Ltd. were amalgamating with Trade Credits (Australasia), Ltd. and in order to dispose of the Hamilton shares (as witness wished) it would be necessary to transfer the Hamilton shares to Trade Credits.

To Mr. Spender, K.C. (for the defence) witness said that he had asked Lovell to sell the Hamilton shares on his behalf. A transfer was the best that he could do to carry out witness’s instructions. No money was to pass. The witness said that Lovell had negotiated a loan of £600 for him on Hamilton shares.

Clara Isabella Cameron, widow, of Fassifern near Wollomombi, said that in July or August 1937, Lovell had told her that Hamiltons were being absorbed by Trade Credits and she would not get her dividends from Hamiltons unless she transferred to Trade Credits.

To Mr. Spender she said that she had received her dividends after the transfer of the shares.

The hearing was adjourned until to-morrow.

Written by macalba

May 11, 2010 at 2:03 pm

Posted in Uncategorized

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