Lt.-Col. Beasley had stated that in June, 1928, the club, which acted as a clearing-house in respect of card debts, paid out more than £5,000 to winners. As there was not sufficient money at the bank he obtained a loan of £2,000 at seven per cent. on the understanding that it was to rank iñ priority to debentures.
The loan was repaid in January and March, 1931. At the end of 1932 and 1933 a number of poker players went to another club and there were dissensions in the poker room. Consequently receipts from fines and from the poker room dropped considerably and, for the year ended March, 1933, and there was a loss of £1,681.
The club opened at Carlton House-terrace in March, 1934, and by July of that year the membership had increased by more than 300. In August, when Lt.-Col. Beasley was in Switzetland, a fire occurred which rendered the dining-room and bar unusable.
Lt.-Col. Beasley attributed the failure to lack of capital and to the fire.
The following statement was issued from Crockford's Club on Jan. 17:
Crockford's Club, of Carlton House-terrace, which was formed in November, 1934, following the liquidation of Crockford Ltd. has no connection with Crockford Ltd, "Whenl grow up:
Text read from the printed page and cleaned; old type leaves the occasional error.