accounts of a Company in which he is interested, hence the creation of "secret reserves" results in the suppression of material information either in the profit and loss account or the balance sheet, and I am sure that in such cases, auditors of a company would not state that the accounts in their opinion are "true and correct" and report on them without appropriate qualification.
If directors of a company realize that they are agents of the shareholders, that they owe them full information subject to proper commercial and reasonable necessities, and it is the shareholders' interest they had to study, they have no fear jot ever being attacked.
Text read from the printed page and cleaned; old type leaves the occasional error.