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, ----.--------"THE CAMBRIAN"')…


-------------------SOUTH WALES…




>- -4 GLASGOW MUNICIPAL SCANDAL, ALLEGED DEFICIT OF £ 200.000. In Glasgow the arrest of Dr. James Colquhoun. the recently resigned City Treasurer, oontinues to be almost the sole topic of conversation. Busines4 man are astounded at the extent and daring of the alleged defalcations by one who was regarded as among its chief citizens, a leader in its municipal affairs, and one who might not unreasonably have been expected to occupy even higher and more important offices. While there is great regret that the city's good name should have suffered so greatly, satisfaction prevails that the municipal moaeys, at least, have not been tampered with. Dr. Colquhouu's position aõi city treasurer made him convener of the finance committee, but as an individual he handled no corporation funds and documents were countersigned by another member or by an official. No fresh charges were lodged on Wednesday, but, in view of the fact that the £ 4,000 or £5,000 specified forms & mere fraction of the total sum missing, it is certain, now that the initiative has been taken. that other allegations will be formulated. In all probability, however, the oharge on which ho will be tried will not be prepared until the accountants have completed taeir examination of the firm's books and the creditors have held » meeting. Dr. Colquhoun's firm acted as clerka for the Incorporation of Fleshers, and that posi- tion naturally brought them a large amount of personal business from those in the trade. Conse- quently, butchers form a large proportion of the creditors. Following as it does upon recent embezzlement by another Glasgow writer, the affair has nature- ally caused muoh uneasiness in business circles., and several legal firms have issued circulars inviting their clients to call and inspect bonda. securities, and other documents in which they were interested. As to the assets, 110 definite information is yet available. Probably the principal item will be accused's shares in the Glasgow Evening News. A fellow town councillor had hypothecated the shares ai security for a> had hypothecated the shares ai security for tt. loan, but that took place only a few weeks before the segue-stration, and may not be valid. More- °'er«. his fellow directors of the newspaper have tbe right, under the articles of association, tc demand that the prisoner's shares shall be first offered to them. It is said that an examination of the books haa already revealed a deficit of about £ 200,000, but, as Dr. Colquhoun seems to have kept many- transactions entirely in his own hands, it is impossible to say whether all the valid claims have yet been forthcoming. It tran-pires now that the prisoner had been hard pressed by creditors for several years. By dint of getting: additional sums into his hands from persons who trusted him, he contrived to appease the more clamorous tor the time being, and it was only when that process could no longer be carried oa that the crash came. Accused's personal friends, several of them members of the corporation, frequently assisted him, and even when the present rumours originated they were preparec1 to put down a few thousand pounds each, in order that one who had been so long a valued public I representative might not have his name dragged in the mire. It was only when the hopelessness of facing so gigantic a sum. became apparent that that scheme was aban- doned. As a member of the corporation. Dr. Colquhoun was one of the most incisire debaters, and was looked upon as among its ai rongest men. He was assiduous in attending to the city's affairs and only a few weeks ago was a leading witness before Parliament in opposition to the Renfrew Dock Bill.

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