No. 8268.-Jury 9, 1889.
Daer and
am as
o.me.
far as I could make out,
case.
His Lordship reproved the witness for the expression he had used.
I
་
I
7
THE CHINA MAIL.
delivery of shares. This is always the case in any particular stock when documents are not delivered.
The Court at this stage adjourned for fin
loss-a loss
to
Cor
see
prair
B. Toog-I am partner in the arm of notice that I was going to buy them
the company started in business with this himself and purchase shares at an had control for a number of shares which carry out his park of it, if one of them Tong and Clubbay, share brokers I Enve did not give the notice in writing and
land and building and work valued at some orbitant value supposing there was any had no sol existance at all. But they eliberately interfered with the perfor thing like 8160,000 or $120,000. It only | market value--you would be entitled to commanded as far back as 13th Fel, orory Juance of it or did anything to pesvant the carried on business over a year is have no record of it. 1 satiled with Mr the Colony, In Felt last I had Potts for those 100 Ropes at Bi66 The
fairly got into work in May 1986. At the take that into consideration in satibisting share that could possibly be pot on the unther men from carrying it out I think
marther end of that year, or rather me time in his damages or his loss. If similarly, al-ket. It will be for you, gentlemon, to say, its Lordship will tell you that there is no the following transactions In Reper shares we lent defendant belonged to the
1838 thenewounts were made for 1885, and thongh there was no market for those shares and it is theprincipal eestion for you to con-homa market validaborately,
tonati in respect mer On 7th Bold 100 at 8104 for 31st March; firm. We had to deliver them for 31st
N. J. Robinson-I em bouk keeper these accounts as published only for or no merket value for them if when you piter, whether these lusts are proved by the Vatile idle it one party deliberately, and
youider, same day sold 60 at 8108 for June 30, 2th March and we wanted them. The follow- bought 75 at $200 cash; we had no tiers ing are our transactions in Repos during to Mesets Hughes and Esra, shure brokers very dearly a very satisfactory state of sould not get the exact thing you could get oridance alrum y given and whether I shall out of the ordinary course of his business in February. In March we said 55 for tet, January-On the fith I bought and old There are two share, traustotion put through affairs. Sobio 816,000 was claimed to have a different in the market, get something a be able to sirengibons that evidenes by the interferes with the market Measure it March at 8169 We had no business in as broker 195 aliares et 893 cash, 85 in February. On Feb 19 the concerned bean monde net pe tin during the portion | littlebutter-thonanother claim for damages evidence I am about to put before you, how you please, I say the action of Musara at: 833 for 31st Jammy. 60 at 894 for sold 50 Rope eliares at $100 for delivery on of the year. A certain portion was put to comes in. But our case is that, so far as That is the principal question to which I Bhewan, Potta, Grimblend Dier, who thus in April, Ropes in Arancia-Of the fin for 160. I. 31st March. 83 at some rate for 91st March, the 31st March. The actual heller I would depreciation find and dividend at the the ordinary rule fur assasing damags is ask your stcontion and on which we ask bought up and bold the whole of those
Me
the purchaser. 20. at $84 for 31st March, 25 at 886 cash, not willingly disclose, but I'hand it to the rate of 7% was dedered. The Coupmy concerned, there was no market value, and your verdict with the gentlemen in shares vasone which ỉ đúng think any of you, Was seller and Mr Dozer was
concerned, the errod no lom. You any sauce confedersidio between say a consider fair of one that should 10 sk $85 for Stat. Counsel. The purchaser was Mr 11. N. in debt of cours fd its bankers that Mr Potts incurred no lose. You any ante confederated together
Was gent ould be Was gentlemen, however bench anyone of you The 10% on 7th February were sold by 95 at 387 for 31st In
The Ghat March: 8th, 70 at 888. 150 at 890, 150 at 891 Mody. The next transaction was on the and general agents and to anndry creditors, understand what I mean. We maintain there a cunfederacy ux quivo between may be interested in share meculations, Grimble. nl Duer bought $168 Grimble sold and 22 Nhewan hanght for 31st March, 0 at 801 for 31st January 16th Feb, it was 176 Rope alares at $210 and it had on the other hand a stock of that he had not to pay out damages to any autuber of those named far the delihorsto would consider fair of one that should be
It was neither. Tomes. Putts, hemp and rops at its disposal." It had not body, did not lose because we failed to The 75 at 2200 were sold by R. J. Coxon 35 at 92 for Feb; 109, 803 for 31st March; for cash.
the price of those shares in the market? not and bought by R. Shewan. I don't know 10th, 50 st 885 cash: 15th, 50 at 890 for Watson, Shewan, Duer or any person cona cent of money in the bank or in its agouts carry out his contract. He has and the purpose of raising unfairly and unduly the allowed. It may be that Mr Rustomjee is hands. I do not say for a moment that the money represented by the 894 por ahars in Did they combine and work toge good man. It may be stint your sympa price of those shares in the market, f not a particular's popular or a particularly who was Mr Coxon's principal. On 31st 31st January 50 at 890 same delivery; nected with Mesere Russell & Co.
Cross-examined-In the first transaction directors were not justiful in declaring a bis poseussion. He has hit ben called ther furthat purposed The only comes thies individually do not run with his. It
julierfectly at liberty led to is there and what looking intonent haus stern was to for above March I had to deliver. 100 shares to Mr 100 at 891 for 31st Jinnary: 100 at 891 wh
perfectly at liberty upon to is better and selling among themselves
that, and all
common may be that none of you are opposed on to the same purchaser. The 245 at $93 for 31st Jan: 25 at 295 for 31st Hughes and Esta were the sellers. They dividend. They were perfectly at liberty upon to pay that, and all that he is on-
that he is one purpose was to raise the price of these may be that some of you are oppost on defa, titled to and slice peenla March; 195 for 395 for-31st March; 25 at belonged to us. I saw the broken notes in point of law to do so, although the led to is the difference, if any, between shares on the market, whether by buying principle to the gambling which undoubted- 10 were at 8104. Grimble was my prin- titled cipal in that transaction. The date of it $93 cash, 50 at 903 for Slot January; 50 Hughes and Ezra simply appeared as bro- money they paid the dividend out of was this $8 per share and what you consider and
You can and selling ataong themselves for the party does go on in shares and share peenla borrowed money, and although the accounts looking over the whole case, looking into so of maiting quotations which did not tions in Hongkong: but even inpposing pla was 7th February. The 25 were at 816. At 831 for 31st March: 54 at 894 for 31st kers. That was put through on 1st March, The Janu ry 21st, 25 at 80: cash; 28th, 25 Mr Francis Why were, these shares for the following year showed that they had the facts and circumstances That was put thru dolivorad in time, and 60 at $97. cash. The the 5th January, bought. The first was
The Francis-Why in a fair talus represent 100 shares were nut delivered in time, and at 895 for 31st March: 123 at 800 cash; bought at 2101 Were they both for the entirely overestimated she vatus of their for these shares at this date at the represent hus tile transactions. The ac. you overy one of you to be deeply interest
sock. The saleable value of rope and ket value, the fair value. Now the import, wie si tha sint in the stack of abord I suppose your are even supposing you of these gentleman was to force the ed in shares and sheen opsoulation, which ho refused to take the 25 alone unicas I50 at $97. coh. Those were all the tran- 31st 7:
Witness-I do not know why they were the intrinsic value may be different things, aut question comes, was there any con- their legitioute value, to take the shares don't approve personally of my eifent aud could get the other 100 at 8104 Grimble sactions for January. On the 5th January, eventually applied, the shares, I believe it the 95 shares at 833 and the 50 at 884 were bought. The first was for the 31st, the and on making up the recounts for the futiaracy or gun oral action between Mr Pottst
harus, I beras werd on 7th the 25 at 892 805 for the sharen 1eannot reads.
second year they found that the rope and other persons to raiss.
maies or keep up un of the open market and to prevent any his ordinary or everyday dealings, even for was on 2nd April. The reason he was were for R. Shewan. His other dealings second for cash,
Mr Francis-Did the purchaser of the they had sold was and at a considerable duly and unfairly the price of the shates and find them for any
unfairly the price of the shates and find them for any purposo-to prevent
price of the tune who unfortunately had to buy shares your own protection and for the honour and good naine of the colony, in the in- unable to deliver was that he had to get were--on 7th, the 95 at 97 (a sale); the 50
is Ives of $10,000 or $17,000, Now, I am not going to say for a ozoment him from uniting them except at such prisas terests of fair and atraightforward dealing in the shares from Mr Shewan. Mi rimble on 8th at 801 the 25 at 892 on samus date 175 shares take up and pay for them 1
Wituesia- Re paid a portion and we held which considerably more than wiped that Mr Potis might not. if he thought fit, and
than wiped that Mr Potis might not, if he thought fit, and at auch quotations aa then gentlemen shares, I put it to you, gentlemen, that you gave me aq urder in writing to deliver them and 10 at 893; on 1fith 25 at $95 for
They were delivered to the away the profits of the iceading year without any implication, havn fairly cesur themselés had creared. Now if you find ought tomateuse of thise pportunity to draw to Mr Showan; the strip and certificates March, also 15 at anme price; 28th Jan. the sharen.
60 shares at 807 (sale). On 12th Jan. 25 purchaser. I cannot remember the data; In 1887. if I recollect rightly, they were ed his purse and his credit against Mr Rusto.
his credit against Mr Rustone ich confederacy existed the question
ne wich confederacy existed the question the linn somewhere and if you are satisfied were not handed to
hardly working at all. But in any case themjee's, by buying up or obtaining on orulitis was the plaintif a member of that on that this combination has existed and that By the Attorney General-I did not tell shares at 884 were purchased for W. Bhe-i cannot ascertain from my books.
Mr Francis said he might call the witness result of their sales of the old rope during nil the shares himself. What we say is that federacy. Of a nose the evidence against Mr Potts has been a member of this com
all that
un Mr Door at the time who was the sellorar. On7th Jau. I bought for Me Grirable
little more favourable and Mr Potts, rot content with competing fairly him is not to the same extent as strong as bination, and if dirested in point of law of the transstion of 7th February. Mr 2 at 885 caelt same date, 95 at 887, again himself, if he thought it macenary, that yene was a little more favourable and Mr Potts, vot content with competing fairly frey
reduced their less on this entire year's work for bis own hand and his own purse, with against Me Shewan. Me Potts so far as by His Lordship, as I believe you will Shewan did not know who the seller was and 100 as 886 for 31st March. On the to obtain the information.
The Acting Attorney General said the ing to something like 80.000. That is to his own skill, and his own knowledge words can gy most positively denied that be, that, quite irrespective of anything you Attorney General said the ing to something like bird War, they had of the markets and business against he had anything to do with any confeder will any distinctly by your verdict that this 8th I sold for him 150 at 890 cash, the pur-. in the other transaction of the same dato.
say, at the end of the third year, ennfedery koos as to the merits of parties, you By Mr Francis In the first Iranesction cinser being Mr Perry and another let case for the plaintiff was closed.
Mr Francis than rose to address the last over the whole a sum of $6,000. They Mr Rustomjou's, combined with a mamburacy or conspiracy 1. combination for the will my distinctly by your Fordion that this I know it was not disclosed when the of 100 at 890, 50 at 891, 25 at 802 for Mr Francis then rose te address the last over the whole a sum of $6,000. They Mr Rustomjou's, combined with a nonber bought and sold notes were same
delivereal. I the euro parties. Ou 15th Januncy I sold Court for the defence. He said:-Gentle had is very considerable cook of hemp it of other players at the same game, und wo purpose of ruising shures; but you will thing shall not be allowed had that Me bought and sold not and another lut
and men of the Jury-As the Attorney Guneral hand and a considerablestock of rope. There shall ask hie Lordship to consider that that have to judge it, gentlemen, not by what he Pytla aball not be allowed to recover in this on Mr Grimble's account 345 at 893, m nit sure as to the second canor in part: 20 at 893 to me purchaser. These tran- told you in his opening, this transaction on was abaulately nothing hopeful in the re- simple fans, that simply curbination with said here in sites wilmens box but by heart the enormous damagos which ko C. C. Cohen. I am a sharobroker gato edition to what I mon- the face of it is a very simple thing. The part presputed. During the course of 1889 others for the purpose of raising the pics acts. A sea is not a liberty to make evict claims, damages for, an exnems of any nership with Mr Georg and have had a long sactions are in
with Mr Georg and hand alero tiesed in anenor to the Attorney General. defendant undoubtedly contracted to deliver the price of hemp unexpectedly went up to of shares in the market is in itself compience for himself and stato in the witness thing like the real value of those
in the a
Go 22nd March I bought 25 Ropy shares a: 9210 for the The 125 shares on 11th at 8125 ware Rope shares to the plaintiff on the 31st vary great extant and the price of rope racy and criminal conspiracy and enough box what his intentions
Wife master may have been and what his state fact he was engaged on this combination, end of May 57 contracted to deliver the price of hemp unexpectedly went up end of March. On 29th I bought 50 at purchased on account of R. Shewan. The March and he did not deliver them. He naturally went up; but I doubt if it went in itself to canna this contract to be oken, what his intentions in any particular ahures. If you find that as a matter of His Lordship-Although it is after the of mind was. That has to be determined that he was directly or indirectly cannected 3160 ex dit. for delivery next day. Both 125 at $156 on 20th were sold ou socount repudiated the contract, and the question up proportionately. However, that was a
The purcharar had for trial on this occasion is whether be was very fortunate thing for them, and as you date of the contract?
from consideration of his actions. Now, with Messrs Sheman, Duer, Grimble, Perry thoas transactions were completed. The of the defendant
or not. I am know from the raport they succeeded in prinsipals were undisclosed As a broker nothing to do with the ring-1 dn't know justifel in rapadiating
the Me Fra
Mr Francis-Whether done before or our case is that Mr Potts was pos and others, I shall ask for a verdict I am afraid I could not give an opinion as anything about the ring.
perfectly well aware that such a proceeding walling by far the greator portion of the old after, it done with a view to influence susand, of this special knowledge zut at your hands. You must know perfectly The witnesa appealed to bis Lardship to as that does not crime hefore a jury of stock of L-85, 66 and '87 at very handsome
pealed to his Lordship to mercantile men with angst is sepudiated me prufe of $10,000 was announce you have huurd to the correct market rate for Ropa shares.
honora zien 37 after, if done, with
either eass a fraud. Our case is that gentlemen belonging to the came firm and or improper in selling short. That is done Every broker had a different opinion, so be allowed to suppress the names of his mercantile men with anything special in its profits indeed on what it had cost clear to theatre of that contrast it was in that he, at the game time as those other well yourselves that there is nothing legal principals in several casca and Vir Francis favour, especially when what is repudiated manufacturo, and in most triumphant as endly as the latter part of last year vessing the same special knowledge were every day. Therefore Mr Rostomije s
latter part of "Panyig on tranmotif right to
Jesting Repra By Mr Francis The principal in the said he would be satisfied by sssing the is a suntract connected with shore trans manner a pruft of $10,000 was announced, clocks in the employment of Russell buying pahares, was buying up shares too. Falling short was not to blame. The ques transactions I mentioned was Mr Grimble names in the memo. from which the witness actions, in which, whether they be strictly But that sus seems to have been tested by rictly at that auta seems to have been tested by the purchasers of the first let were Joseph was reading, unless the samas had anything legal or illegal, it is the code of honour and the sale of this old stock, not from any & Co.--you have huurd their names They were all carrying on transnotions of tinh is has any man or combination of men
right to from any over and over again-being in a position the same description, all investing in Ropra right to take advantage of that and thus not the strict letter of the law that prevails. porits, not from any opening of now from the nature of the'r different omplog-Osa thote ire any reasonable doubt that it by their own acts deliberately increase the by of tion of then and Fredericka and Mr Cubbay bought the to do with the case, second locks and Mr
Witness, continuing, said I have given You are all acquainted with the state of the markets, not from any improvement in B. I. Danby, broker--In June last year al my transactions whether as broker or share market here and the amount of what quality. Because they unexpectedly hap ments in that firm to know what was going whe a common intention? Can there be danger they are entitled to ask from the hap-on in connection with this Rope Manu- any reasonable doubt from the evidence we short seller if he fails to carry out his con this Rope Mana. Any reasonable entity increase the think you will hesitate rened to have on hand a stock of cope facturing Company Potts, availing have already had from Mr Putta himself tract very considerable portion of had large dealings with defendant in Rope principal. The lot of 8196 at 81% cash on I call--and I do not think you will hesitate rened to have on hand a stock of rope
A think you will besitate afactured cheap from oben obtained himself of the knowledge that can wad ledge We find the plaintiff buying at ready. A number of respectable brokers to call-gambling that goes out. We all safety ncceeded in making a grow him as asurance Clerk, Me Sheran enormous prices, and I asks if thoro was called and I don't include of the facts out. We all manufactured cheap from cheap obtained himself of the knowledge that came before that they wore uating with common know the evidence in support of the facts shatów. I don't remenaber thu number, but 5th Jan, we bought for ourselves and said to call-gaubling that goes out. We all manufactured cheap from obop-obtained himself of the knowledge
thoroughly understand the on. We all mangfactured cheap from obeun-obtained facturing Company, Fotta, availing have already habt from the evidence we short nailer if he fails to carry but his thoroughly understand that the greater hemp, they succeeded in making a grow him as Insurance Clerk, Me Sheeran and ledge! We find the plaintiff buying at I have stated has been given al- it was a large number, I should say 503,on time the same day; 95 for 31st Jan,
70, 1 bought for defendant. He and the 100 for March. Mr Dear bought portion of that business is generally for the pruft of 852,0J0. But to little was that his brother in the shipping office and enormous prices, and I ask if thoro was ready. A number of respectable bruktors- 600 or I told me they ought to be worth a good deal the 95 st 884. In these transactions I sake of doing business in accordance with era of profit-making to go on, that the having correspondence pass
the having correspondenco passed through their any single tranmetion; ibat would justify have been exiled-and I don't include more than their price thots on the rics
eriod in signed as broker for the seller. On the methods and fashions which, if they came moment their stock of cheap hemp is hands, and Mr Downes and Mit Duer the mount figure of 8170 at which he Mr Danby among the number and they land would give the company a good profit. 13th Feb seeing the rise in prices atid to be investigated in a court of law, pro exhausted they stop working from Novem in the booking
ven in the booking office; these had all bought 420 shares from Mr Tumes, and have told you that thers were practically no At first basiness was done at 870 and then hearing there was every chance of a good bably would not hold water. The contracts ber to March. They know they could realised the fact, probably before the 100rom somebody dias at an aqually big or transactions in Rupes after 12th February, They knew they could for 8170 at which he Mt Danby among the number-and ther
and General as high as 899. He said they ought to be report I thought it advisable to buy the are generally in forms that would not be not compete in the market with rope directors and General Managers, that be bigger figure; What possible renson could because they were all hold by these ball- worth 817b and something ever. I believe 200 Ropes is cover defendant's loan recognised-blank transfers and unfilled up made from dear hemp. If during the onuse of this rise in bomp and behu have for doing that, for running this dozen gentlemen whose names: you that all that time defendant held fecin 1,500 before prices rose still higher. From what strips. The greater portion of the business three carip years, when rape was cheap cause of the demand at high prices for risk coneidering the nature of the company have heard over and over again and
0. because it was currently reported of b to 2,0 0, because it was currently reported hoard on or before the 13th February, is a quastian of honour and not of strict and labour cheap they could not sell beir this cheaply ananufactured sing
tope except at a loss the rise in the pries--Rope On early in January had he had a very clear idea in cheaply-manufactured
The few tran was likely to be extremely good for the not absolutely know how many shares themselves not to sell. o, and I kus he made large purchases and I thought I was justified in buying laws or strict righta. Yua are all in the tope except at a loss--it is abundantly clear this cheaply manufactured hemp, she year and the character of its shares ! If he did who had come to au agresmont between was not seling ant. The defendant, at the price I paid. In the case of habit of looking upon it in that light and that it was only from the rise in the pries Rope Oscopany. We have it in evidenca Mesars Shewau sud Grimble and the others sections at cash prices which have been think, told me he could buy the whole Bruch
any. the 100 shares I bought frozs br Tuch dealing with each other in this manner. of bemp that they made any profit, and they cost Mr Bhawan, early in Janitors, and held, he knew what they wore doing, and mentioned will come to be examined in
January camps and double as much. He said Bald he told me he had been offered a Therefore, when a man gomes forward stopped working when the cheap hemp was the Shawan early in January had held,
either himself or had contracted for, some-ho had very clear idea in his own wind detail, and I ask you to bear in mind now nothing to me about co-operating. I can't higher rate and if I did not hurry up they and repudiates a contract, I can perfectly done. I ask you as commercial men, ez-
they and repadiates a contract, I can perfectly done. I ask goulas comaterial men, ez thing like over a thousand shares. You that they held auch a number of starcie that they will every one of them, with the
that the opinion of a commer-perienced in those matters, doos that state a au
rienced in those matters, doos that state- Bay what ho moant by that. I don't know would be gone. I told the defendent I understand that the opinion of a commer-perienced in these matters, doos that state and from Mr Dan what opinion to forged me to go and ge
have must have the shares as the price was going int jury would not likely
in his favour.mant of affairs, shoz, any reasonable and from Mr Danby's evidence given to-day as gave them the absolute command xception of two the price of which I shall that shewaz, his brother, Mr Pulta, Mr of the market. Mr Sheran in his evidence put before you, were purchases by men in Maid anythis form of it; he might have must have
Yollara doubtless all well acquainted with prospect of this Company continuing to Duer, all shcas people engaged in that states that he had at one time a sort of precise the He neked UP
and
the sume holes fr Rustom- some of the directure about moving tho Mr Franus-I show you an account the grue of poker. You know that all manufacture and sell rope at any profit office, having this special knowledge, were understanding with Mr Perry, whom Jee-Me Francis, in coussin, said that at from you to Mr Rastonjes in March for surts of bluff and hesitation and pretouce Supposing, as we my, that the ratio be buying these shares as fast as they could hope wa shall sas in the witness-box, which among the witteases he would put in
bo so far fandamo profit; whether be or his Chinese 250 Rope abaros at $126. If this transscare indulged in-are a sort of part of the tween the price of hemp and the price of get them. Our case is that they were was intended to be er was actually reduced the box would be Mit Fames Al- factory and solling the land it was on at a from you to Mr Rastonjes in Mark for surts of bluff profiter
pretence Supposing, as we my. that the ratio bo engaged in that states that he had at of God only knows, who was going to pur- tion tonis plaes on February, why is there game. Man play at that game day after mapa remains always the same, there was making usc --I have no hesitation in saying to writing, to the affect that they should though his name fiad been mentioned in chase I don't know that was what he said no trace of it in your February account? day and night after night, and a man fe not more probability of their masking a pro-sking improper nee of th knowledge sell none of their shares at a price below connection with the confederacy nothing Witness-He did not give me instruc- perfectly at liberty to work to the best of fit out of dear hemp that ent of cheap gained in the confidential position the $176 or before the 31st March. He tells had appeared in the evidence and nothing improper nee of th knowing be would put in to me:
tions to put it thors. He told me he could his ability within a certain limit to denivo hump. This is abundantly shown by the fact held in that office. Mr Potts with the as in his evidence rery plainly that this had been discovered to show that he not pay the difference then.
his opponent, and large sums of money occa that, as soon as the old cheap stock was greatest candour said that it would be was before he went to the bank, before he was one of the combination; and he would Withers, having begged pardon of the
Mr Frauen-Don't you think that this sionally change without any one appealing doce and they had to buy dear hemp a great breach of duty if he had found himself at the bank with Mr Potta have, as was only right, an opportunity of Court, propiedad Defendant made no
Eve was an attempt to swindle the public-gista Court of law. It would be considered they stopped the works for Svo months given this information to outsiders. ou the 12th Feb. Now we know that Mr publicly denying having had anything proposal on the subject, but simply wanting this bogus raono?
thoroughly dishonorable for a man to They put out of the 852,10 u dividend of Bur brokers and olivis interested in share Potta' memory is unfortunately so bad that to do with the ring. Me Grimble would ed to go and suggest to the Witness--I don't consider there was any appeal to a Court of law to resist his gum-12%. If the whole acounts for the four speculation in Hongkong are elever enough he could not tell us exactly when the converso be put in the box and Mours Jetaph tors to move the factory cheaper swindling in it; I don't know what view blung debla. But, gentlemen, there is no years were addod up. I gin afraid it would to take note of what they so going on its sation between ta- largest holders of shares ad Fredericks, and the defendant him- site. He gave me orders to buy Ropes for you take of it.
porer, player who would not for his own be a very small profit they could show for share dealing, an if they saw Mr Pulls or not to sell took place, but do you think self who would tell the jury what his notuak I remember what the extent
wike and in his own interests draw the line these four years. A commercial mea I any athers in the enthony of the firms going you will have any difficulty in believing ransactions in Ropes had been. him, but don't be lor find from
at cheating and swindling. Every man is ask you what is the value of the shares ist the market, in December or January that he did not ge and offer Me Tomce His Lordship said he had some difficulty him first was without limit. I could not
at liberty ap far as his actions and expres in such a Company as that supposing that and buying up all the tops shares they 8170 for Ropes-the lowest quotation in following Mr France's proposition
uppusing the hay basis say now to what extent Tahould have con-
siuna are concerned to seek to deceive his they were likely to pay 18%. Out of the could possibly lay their bonds on, I don't before that being something has 3125 in law as to the combination after the 16th
like sidered myself justified in buying for him.
Mr Francia-You were not helping him opponent, but no men or sets of players $52,00 profits last year they properly up. Januaryis referred his Lorishio to to swindls according to your own account, and ate with each other for the purpose of weat to depreciation fun their artists matto During the present year I put through to swindls according to your own account, are at liberty to pack the creda or to con. pliad a part to pay off. pust 188 and a part think they wou'd have any difficulty what--without having some special know- January
con.plied as over in understanding pretty fairly howledge which rendered it probable that Mr
partition to their artist together: ating deliberate prices of the gone. some tranenctions in Ropes for him. On were you not?
federate with each other for the purpose of weant to depreciation fund I thich I mattore stood. Now we sky furthermore uven buying at 8170 he would be like. several cases on the point. then called Plered his Lortship to for the purpose would be able to proof are forbidden to together: in deliberately and with
I think I which I Witnees-Vo; he wanted the memo. winning; and no one, howarer insoterate would be able to prove from their artistos that these gentlemen were confederated ly to make a profit upon them? Is it Evidence for the defonce was then called. Mr Francis Would that not have been a player and howeverthoroughly determined of association that they are forbidden to
rose together; that they wore acting and that Fensurable that without some fair prospect Henry A. Herbert, manager. New Orion- a swindle on his part?
that appeal in all such matters should be pay more than 12 %. Suppose we take the they were noting deliberately and with the of being able to make some profit attal Bask.The plaintiff coupe an account
hesi-dividend by bina January this year, 500 at 884; on the 16th The witness--I don't know what you call to a Court of honour-up one would hesi dividend at 12%, what is the value of the intention of raising the prices of those feast out of the transaction he would have with my bank produce the cheques he sold at 303; same date 100 at 893 it. It was a swindle on his part in a ver- tata for a moment, at the very least sign of 850 shares? Is it anything over $100 shares in the market to their own profit and gone and offered to one man 815) and on drawn by him against his account in Janu-
4
swindle on his part in a war-tale for a monour-no cos would hesi dividend 12 12%. Suppose wo take the other; that they wore acting and that ensurable dash; and on 18th 140 at $92 for stain way.
swindling and cheatin; going on outside The intrinsic value of the shares given in to the hurt of other people. It is not at all the same day 8170 for a big lot of shares sty and February. There are four drawn January. On 13th February there wate Mr Francia-And you were helping him the fair rule of the game, outside the Mesars Stokes and Young's share ist necesary and I think his Lordship will the price of which usant come £70,000 in favour of Me Times. fine of the 12th
fair liberty and licenco
cence given to Bachi b
is 651
two reasons why I There
two reasons why tell you so gether in a room and discuss that, unless he knew of this agreement 200 shares bought 100 at 8200 and 100 at in it
tell you so very plainig that courpirators 880,000 Now what prospect, I salk you Feb. for $3,660; one dated 1th Fab, for Witness-On account of the money ho player in that game-would hesitate to I ask you to consider and bear particularly should meet together in a room and discuss as business man, could be fund for think $1,040; ons on 13th for $7,800; and an- I you so very plainig that courpirators 830,000 of or mer. There are four drawn $185 to cover 200 shares due to my firm by him. Defendant was to deliver 200 shares was owing us.
refuse to pay a stake unfairly won. Now Me in mind the intrinsic value of these shares in the fullest and fresat possible languageing that, unless he knew of this agreement other on 14th, for 840,000, Mr Francis-You were going to swindle Rustomjee, I know and you know, has been First, because there must be a me relation all their deaigns and intentions and to or understanding between the big holders about 3rd or 4th February which had bean
Sandant
The Court, then adjourned til 10 a.m.j gne and intentions and ing that, unless he knew of tund for think $1,040; ons nie dated 1th Fab, for for many years a very keen speen-between the price a mas is willing to pay settle it in so many words either cica me of cheras 1" During that time he had cum-to-FROTTOW lent by the firm, and as he did not return them i of the 13th February purchased the Witness-Ike was not going # srindle; lator, taking ali the chances of the market for namber of shares in the market and or on paper that fope shares were likely to mand of over 300 shares, although after 200 shares I have mentioned to cover that he
ke was only trying to make Ropes cheaper when they came in his favour undoubtedly, the intrinsic value of them, or between go up and that they would combine to buy settlement the number was reduced to
market. The prices were the lowest I could get in the market
I am perfectly willing, as far as the merits of their value as an interest-besting invest them all and agree to hold them to a certain 496. Mr Shewan after settlement had FM An Exchange-There are so many them at on the market. I gave the do- Mr Francis-Here is a document ad. this caus is concerned, to give him and his ment and the prices that parties in the date and not sell them un ler a certain something over 200, bat during the previous corners to the East who complain of • fendant nolice of this and he promised to dressed to the defendant and dated 20th character entirely into your hands, Sat Market are willing to give. Therefore, in price it was not at all necessary that they muths he had control of 1100 at least general readiness which, no doubt, proceeds fondant nolice of this and he promised to Fab, which reads as Ellows; "Dear Sis. Rustomjus, supposing you get him dove i isken place during January, February and indeed that they should do either or say a Potis bus forgotten what actually recommending a general panted. make good the difference, but he has not We hereby acknowledge having zerfectly justified in drawing the line some r
promised to Fab, which readwledge, make good the difference, but he has not Fab, which reads as follows: Dear Sir. Rustomjee, supposing you eat him down as considering all the transactions which have should engage to do all these things or Now I shall prove I think to your satisfac from a torpid liver or biliusasem, that we
so waal dons. su yet. I believe the amount was We hereby acknowledge, having revived confirmed and t
sovunt was We hereby acknowledge, having equived confirmed and taveterals as a poker player, is taken place during January, February and indeed that they should do either or say a tin by absolutely unimpeachable evidence shall be conferring a buon upon society by something like 937,000 including another from you 300 shares in the Green Island perfectly justified in drawing the line some March, I will ask you to bour in mind their single word to each other, if they under that Mr Potis bis forgoton what actually recommending a general panared: - This le something like 837,000 inclit was We hereby acknowledge, Dear Sir, Rustomjos, suppose your hands, Sat Mewark the prices that parties in the Chez all and agree to hold combine to buy settlement there, although after
sous noring Afty shares. The difference was something Comet Co. Limited an secarity againal our where and insisting that the game he is intrinsic value as an interest-bearing stock at each other and ware seting together occurs in the Chartered Hank when he glass of hot water with the juice of half a like 817,000, which is still owing. I had having lent you 250 shares in the Hong- taking an active part in should be played and the market valus. It is part of our by a common racens for a common purpose. and Mr Shewan ware there. I think you limo squeezed into it, but na angar, night
stod ha Felong a some other brassctions allowing. I had having lent you 250ecarity againal our where used in drawing the linesie taken place.during Junt some other fraction in Ropes in Feb kong Rope Manufacturing Co. Lersited, out ou something like the legitimate rules case, if we get as far as the quastion of
the $1st March, conspires or confederation, to made to the Bank, although the gentle tried it and fuand hisself bettor almost rusty, but they have nothing to do with and we agree sad promise that the above of that gurue and within the lluita recognis dainages, that there was on the 31st March, it is not necessary, in order tu establish will be perfectly satisfied with the svidence and morning-or first thing in the morning conspiracy or confederation, to say that I shall put before you that the application ply, and in place of the matutinal coder. this cass. They wore a follows: On the ecurity will only be utilized in the evented by honorable men. And what we say and when this contract felt due, no market valtospiracy
And what we say and when this contract felt due, ne market valan
person to whom this was recommended 4th 20 shares at 999 for 31st March of your not returning as said Roye shares what our pretence in this co is we repudi- for those shares. And I think his Lordship acquainted with every other member 4th 20 shares at 800 for laten 31st March 1850-Yours faithfully, ate this contract and refuse to carry it but wil tell you that by market value can only knew what that member was doing in for a joint loan and or a loan hot models.lad failed to
And I think his Lordship acquainted with every other member and nuen mey have gone in smratuly, was immediately. His daily headaches, which ise repudi- for these shares. And I think his Lordship every member of the confederacy is made to the Bank, although the gentle 4 person on 5th 50 shares at $100 for same date
you that by market value panoul acquainted with every other the application ply, and in place of the y a debt dishonest: be moant bad fide, honest market value purtnacce on 13 h 126 at $125 cash: on 29th BENDAMAN AND DANDY. Now ar, what do as we would refuse to pay a debt dishonest: be moant bad fide, honest market value March 125 at $150 for delivery next day. You mean by saying these shatos were rey won at poker, because the cards have between fair buyers and sellers on both race of a common understanding or merely in respect of their own number inedicte lind failed to cure, left him, bis
turnable on 18th Feb.?
at poker, because the cards have between fair buyers and sollers on both agreement. It would be quite sufficient of stares but for a loan advance appetite improved and be gained several At the defendant's express wish I gave him
beso deliberately packed by the players-sides. Thero being so market value for that without knowing each other they were on their own shares and other people's pounds within a few weeks. This is so menu for the I turnable on menu for the 200 shares at the rate of liverable on 12th Feb.
Witness-I did not say they were de- and of these very players Mr Putia was one these sharia, the ordinary, rule which ap all confoderated with one man; and to put if shut is so and you will find, gentlemen, simple remedy that any person thus afflict
before the game began and the stakes were plios in cases of this description cannot our case at its lowest we charge that they when you come to deal with the evidence of ed will do well to give it a trial, na It cannot $120, be promising to make the difference
they Mr Showan that on that is auther here with Hypophosphinedies, in a palatab Mr Francis-You had bought those laid, and after the game commenced and apply in estimating damages. If there good if I did so. I presume he wanted
If there is if at the rate of
ware all-nestly every one of those persons Mr Showan that he does not deny that it possibly do any barni. to him on the stakes were put down the same system no perse existed a confederation and that Mr Potts two most valuable remedies, in a palatable hast to make the rate of the market and shares at an enormous expense to him on the stakes were put down the same system no market value, sither of two things are named, with the exception possibly of Mr was joint application that in axurther peint Scorr's Emulsion of Pure Cod Liver Oil compel the others to sell cheaper. He said the 13th Feb., and what did you mean by of dealing has been carried on for the pur- looked at. What loss or expense has the Tames-confederated together and con- by which we hope to satisfy you that there with
corn by which we hope to satisfy you that there with Hypophosphites, is a combination of this would compel the others to soli cheaper writing this on the 26th
pose of winning nufairly. That is the party been put to by not getting what he bas bined with Mr Robert Shewan and were existed a confederation and that Mr Potts as he could show the other brokers this Witness-That latter was written after charge we made against Mr Potts that he bargained for, or what is the value of the acting under his common guidance and was a member, I think these are all the and easily digested note. As a matter of fact that was a bogus
A bogus bis having refused to deliver those shares with a number of other persons juinod to thing which he oght to have had. I will comioon direction. Now so for as setion is facts in dispute. The first issiles for you ing and Grongthou, having great heal
paying note. The date was 6th March. I don't on cuah delivery.
gether in buying up the whole of those pat it to you that the market salue of these concerned we and that they were all men to consider as a question of feet ja-whether a longthening properties, most know it as a fact that defendant had sold Mr Francis-Is this & falsehood or not? shares, deliberately stepped in and by their shares was never more at the very outset bers of the same mercantile firm, and liv-on the 16th January when this contract range Lend the top and wasting disal Witness--It was not; I told him I had to sin sote proveuled the defendant from car that about $100, and it is part of our case iog togather and in communination with was entered into, when Mr. Rustomjeeooft's Emulsion of who have found
both cases. Read the following 441 he obtained a loan of shares from us. I sell then shards on time and mass have rying out his contract, Wesny, furthermore, that nearly every transaction in which the vach other every day we nd that agreed to sell those shares, there was any trament of path of hemofit its the
sell them before 31st March.
quite apart from that, even supposing you price was over that figure the price was they were all posstened of this com cumbined scion going on between any pases. It is extremely palatable and does phibisical and scrofulous-dia- believe he must have continued to Mr Francis-He had any time up to the were to buld that the contract was a good either the price given or made by the per mon knowledge as to the state of the number of persons, of whom Mr Potts wasut upset the stomach bus removing the short. I could not say if he was selling.
selling after 31st January as he was not doing dazione monowledge as to the state of the
could not say if he was on 31st March to deliver them without daizi oto and one that ought to a certain extent sone who had bound themselves together to Rope Co. and its prospects at the one, fur the purpose of buying up shares great difficulty experienced in the adami- business through me
throury
sge to you, had he not-Yes.
to be carried out, that the damages claimed raise the market value of each share and to end of the current half year; we End of the Raps C. and raising their price in reation of the plain oil, D. P. Kenna And do you still persist in saying that are excessive and monstrons, and that they norner the defendant, or they were the they were all of them buying up shares as the market and was this purchase L.B.C.S., Surgeon, St. Vincent's Hous By Mr Francis-The 754 shares for lat January were not what I alluded to when you bought those 200 shares to supply the have been raised to that amamt root by prices given by people who had been let hard
people one of the steps Dublin
who had been let hard as ever they could during hole as Mr Rustomjee, but of Tankary; we find from Mr Shewan's taken by then in course of that Watson & Co. (El), wgnats in Hongkong
Any Chemist san supply H I said I bought from 800 to 700 for defen-place of the 200 lent by you to bim 1-Yes. the ordiasty course of fair dealing and fair to the
the ordinary course of fair dealing and fair into the same hole as Mr Rustomjee, but hard as over they could during the month from Mr Butopjes Will you be so good as tell me if you re- playing but by the deliberate and inten who rather than face proceedings in 2 gvidence which has been put in by my operation? The second question of fact is and Ohina. dant. I did not include the 754. The dant. I did not include the 75 tarned those Cement shares in 3let Marchi dional action of the plaintif bis-lf. Court of law or have any annoyance, learned friend, that Mr William Shewan-il you don't think the evidence strong
you be so good of January. The 500 wore sold to a person I don't know when it was, but it was be And I think his Lordship will also had made up their minds to bear the their minds to bear the a fore that time. whose mame I can't disclose, I appeal to Did you not settle with him in Mirchtered into contrast and the person transsotion at any expense and that they brother Mr Robert Shewan, that Mr Duer action of the 31st M
tell you that where a man has ensotion Duraus, Did you not settle with hits in Mirch tred that where a man has ea loss and to buy the shares aud close the who hold some shares had left them under socugh to justify For Anding that song the disposal of his was such a common parpose and such joint his Lordship against dialosing the game.
Mr Duer action on the 10th January, was there at Bis Lordship said the zamua must be and strike a balanga and baud him back his with whom he contracted fails to carry it out got these shares either from as through the bait done the same, that de doors, nus is aus, time before the 31st March, lasfore the muneecurity, the whole thing haing setled and renders himself liable to pay damages, confederates. Now the question in point someshers up the coast had done the same, date at which it would have been Mr Rue givun Witness There were 300 to Mr the ofte.
adera himself liable expense and that they the management and at the The Witness There were 200 to Mr Dascoinnt of the increase of the capital by the first person is bound in law to do all he of law is, was there a fair open market, and that Mr Potts had given him authority to toujes's duty in the ordinary course of Perry and 300 to Mr Grimble the 100 on the Coquent Co, he came to ask me to give possibly can to dieluish these dat gea and a fais open market prick. I think His deal with his shares provided he did not sell things to have delivered those shares and
him his scrip to send back to the offes. 15th at 892 were bought by us sad And you gave him the security although a posible, and that he is shan ately for were no transactions going on during the Mr Pots had promised hita on his side that combination to which Mr Potle was
render to did in damages got these shace any expense aud close the who he frond, that rerider his claim upon the defaultor at small Lordship will instruct you that if there them under a fixed price of 8176, and that completed his contrast, was there then and as is shantely Fotia sold to Mr D. E. Sassoon. The 102 on the Neth were sold to Mr. McCulloch's your debt was not paid 1-Yare bidden by law to do anything which will greater pustion of Fouquery and March, he would not sell or dapas of them with party to raise the price of shares in the the 100 shares on the 15th bought at 3300 rued the shares, not unconditionally, but increase these damage Now what oxcept the transactions between Mr Potts out communicating with Mr Shoven. We market and get possenton of the whole of
$200
the or were from Me Laubbald and this 100 at 185 cu-the understanding that as soon as he got in the position of this Compang this and his companions in this little arrange- sad that Me Bhawan, holding a very large the greater portion of those shares with ike
Ange- Snd that Mr Chaselt, considerably over onally thought of the pafund and On New York
as with the Un Paris Me me from Mir Pulls I have not gut with me fully paid-up scrip he would give it to me Hongkong Rope Manufacturing Corps mont or upscions he is her Snd Mr when Documentary, outlastalgli
anufacturing Company ment or between these gentleman and number of shares himselt, considerably over result, whether intended or not, whether On demand,
gentleman and number of harsan, holding a very large the greater portion of those share aleb my accuunt for the purchase of the: For some other security la ite plase,
in respect to the plaintiff's claim to recover persons who were compelled by their 100, not only had contral of his own sharia sotnally thought of or not be his O from Mr Inchbald: the date of the can- Witness continuing-When I was buying dataages por share. The Company operations to buy a few thares at any but thuan of a number of other people Me Parts and Lie friends, with the patund and
Credite, montba sight, those On New York- track note is 13th February. In business last year for defendant I need to tell him was stal one do years ago, pries, that that does not consultato a far Grimble whom I forgot to mention had also ordinary result of preventing Mr iustom
a
was started some 4 or 5 a Met WAY we generally send contract notes to of any lots that were in the market Hey heard from: Mr Potts in his cross or honest, or open a dona de market promised to consult him before selling and jee from getting the shares polu. §. demand,...,” you me exempt from Credia, a dam our clients for theut to sign at their leisure, one day gave me an unlimited order to buy examination, and as you must know per- for the purpose of reimsins damages to give hits the refusal of his ass, the members of the confederation themselves On Beanbagai prie to. I can't say when Mr Inchbald signed. It was always understood to bay at a festly well from the repurte and in He will also tell you, I think, that in eo far although I believe. Mr Girimble broke away and at a price to be dictated by them twin br
suppose the note was feturned to or certain rata. I don't remember when it formation which you, as cammeres, meu, as Me Petts and his cupations, assuming from that prontise. We and that Mr The state of the law on These fate His On demand, couted that you find they the market inant with these particulae Bape Ce, nideration, pass the bond fide marker On Shanghoon three days afterwards I
He have obtained, that Company, in its af course that you find, they were working shewan had absolute control by agree Lordship will direct you on. There will I O za offer a have the sold was he gave me an unlimited orders note in my office, and can produce the old mos te bay Rape shares for him, I don't dret year with capital of $300,000, together had a hand in making the market inent with these particular gentlemen think be two questions of fast for your con-
the market had absolute control that Mr The state of the dictated by tham tu Babar.. subposed to produce docements in pught did not persieds Mr Incbbald to noll at the invested in the purchase of land and the really tube. It is also part of our cars that and there are only 30 in it altogether the queim what was the bout de ce On demand, to bare brought them with him gure I mentioned. I did not suggest the appointments of its factory and works Me Pitts, onlike some other persons whose think you will be wila to see that con value of rope share of those arkes On Shaughner
think only in the gentle Lord site
hosila on the 30th March, I Witness continuing 1 gare Mr Rustom prido
I did not suggest the The Acting Attorney General The mama have been mentioned in this couroniderable anumber of charm, real and bone don't think my one of you would say in the
General-The of the proceedings had
sod 98 dage bab private, *ap notion that I wanted my 200 shares and By the Asting Attorney General After capitel was $180,000-****
of the proceedings had no contracts on ide, are hald and necessarily held by person of two persons who have made On Berlin, 30th March business in Ropes praodically Mr France I beg your pardon-hand shied he was obliged to take up one who ownld not or don't want to sell bargain, that it would be fair to the ather Gold Lear, tw came to a standstill owing to the man. $150,000, 2000 shares of 850 each. Well,
Well If he had had to gu tube the market them, and on this is so the confederates man or that he would be fairly habla fals
me
1st October last I bought 754 at 871 for de- livery on 1st January. The transaction was completed, and he sold them on 14th
about
good
I
short, but I concluded that he had because
Me Francis-I want to know what you think of it. We want to see the art of men who are giving evidence here to-day.
Witness-I don't call it swindling
on account of the money he owed you?
i
ཀ་ ེ ལཱ་
aru
asa is
own
tablo. in
Exchange Horozora, July 1.
London
Bank, Wire,
#
On demand
→
30 days sight
4 months i
Credita, 4
of beration Prom
On
York-Pfha'
sight.
Hja Lordship said whers the witness,
prites was know if there was any limited price I 9160,000 or $170,000 of which was price or so-called market pero, there was of fully 3000 shares in the Rope Ce, sideration, perhaps three. With regard to
he put me off from day to day. In a one
jain way I had bin consent. I gave him
Putusan
W
it