_ Tn the meantime, the Associat’on obtainc I forbearance from pressure by the Bank, an I the account was reduced by t’loabovoamom Tho balance - sheet was mr lo up to 201, i June, but, of course, it was compiled after tli it date, and it was not certified as correct bv iho auditor until I3th August. Nor was 1; laid before tho shareholders untd 7th Sep tember. If tbo account was, i-s Mr Vigors states, reduced by tho fraud of some office - of tho Association by £30,000 at the end of Juno, it is, exceedingly strange that tie directors of tbo Association shoo'd not by VU September havo discovered that there w. s something wrong, and that tho Association had got credit for £30,001) which it had no busi ness to get. The balance - sheet of the Association further represented £0516 to the cred't of profit and loss for tho year, after deducting the bad debts, and the report of the directors recommends tbo pay .nont of a dividend and bonuses. Tbo report was to be presented at the meeting on 7th September. THs, there fore, implied an assertion not only that tbo balance-sheet was gorreot up to 29th June, but that tho 'cireumstanacT? of tho Association on 7th September woryi sijch as to justify the distribution of tbs amount to credit of profit mid loss in dividends and bonuses.. In tho balanoo-sbeet of Jruo, 1§95, tils liabilities, apart from the ymid-VP capital, amount to £53,289, and tho assets, apart iron? ; the goodwill, to £72,555. In Cook’s state ment, os on 20th March tho ,! i bi”tiea amount to £112,797. To that, how Tver, must bo added £55,150, which, up t j 19ih October, ■when Mr Ward gave bis pro nisaoiy note for it, wad a liability of the Association. The total liabilities, therefore, ore £107,917. The total assofai wove valued i>y ]VIr Cook on 20th March at £04,341. The discrepancy between the balance-sheet of tbo 29. U Juno and Mr Cook’s valuation on 20th March, even , apart from the fraudulent credit of £30,009, ] is enormous, and certainly oannot be in any way accounted for by losses incurred between the two dates. Furthermore, the loss of t.ie £55,150 was known to everybody on 19. i October, when Mr Ward gave his protyUSpr/ j uoto for it. 