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Newspaper
Weekly Chronicle
Location
London, Middlesex, United Kingdom
Date
Aug 13, 1864
Page
7
Witnesses describe alleged overstatement of profits and misdated balance sheets linked to a 1860s dividend. Key figures include Mr. Cleland and Mr. Gibson with claims of extensive share sales and probing inquiries into Cuban mines. Directors and auditors faced cross examination over inconsistent records and suspect profits.
The court heard terms of a settlement in a joint-stock company dispute. The plaintiff receives £2,460 plus costs, with £1,200 payable the next day and the rest in fourteen days. A juror is withdrawn and no verdict is recorded. defendants deny intentional fraud and defend actions as based on director representations.
At the London Tavern Bishopsgate on Monday an EGM confirmed the June 22 1864 agreement between this bank and the Mercantile and Exchange Bank Limited to wind up this company and appoint directors as liquidators. Shareholders were told profits would begin from June 30 and that the handshake involved an amalgamation under agreed terms.
At Hammersmith Police Court on Tuesday Charles Nash faced charges for obtaining a £20 cheque from the South Western Railway Company secretary by falsely asserting injury in the Egham disaster. Evidence heard, he was remanded to Tuesday next. A second charge over a coat obtained by deception from tailor James Swinson also led to a remand.
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