Word: kylsant
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...Kylsant to Wormwood Scrubs...
...John Simon, the British Empire's august new Secretary of State for Foreign Affairs (see p. 19) toiled most of last week at the congenial task of earning $125.000 by his efforts to win an appeal in the case of famed Baron Kylsant of Carmarthen, sentenced to one year's imprisonment for sponsoring a misleading stock prospectus (TIME, Aug. 10, et ante...
...John, arguing for Lord Kylsant before Mr. Justice Avory of the Court of Criminal Appeal, lightly brushed aside the fact that some thousands of small investors bought British Royal Mail stock on the basis of the offending prospectus and lost most of their investment. "Surely it is a sad thing," cried Sir John, "if something economical in its information [the prospectus] is to be declared a falsehood. . . . Every word, every figure in the prospectus was accurate. . . . The average of ten years earnings by the Royal Mail which it contained was absolutely correct...
Scandals. Three financial scandals in two countries further strained British resources. The machinations of Clarence Hatry in London in 1929 ruined hundreds of British investors (TIME, Oct. 21, 1929. et seq.). Baron Kylsant's performances with the Royal Mail Line represented an aggregate loss of some $15,000,000 to little stockholders (TIME. July 29. 1929. et seq.). And the failure of the Banque Oustric in Paris last year burned so many French bankers' fingers that they began to withdraw French gold balances from London. They needed the cash...
...instant Crusader Hall alighted at Havana, President William Pawley of Curtiss Aviation Co. of Cuba handed him a Cuban cocktail. After gulping it, Crusader Hall ejaculated, "That alone was worth the trip!" Then he ordered another.-ED. Convict Kylsant...