BANKS
HONG KONG AND SHANGHAI ↑ THE CHARTERED BANK OF
BANKING CORPORATION
INDIA, AUSTRALIA & CHINA
THE CHINA MAIL-- TUESDAY, „FILY:14, 1936-
-SHARE MARKET =
"TU-DAYS" QUOTATIONS“
The following was the list of local Share quotations issued
Authorised Capital ...... $50,000,000 Incorporated by Royal Charter, 1853-to-day- maned and Fally-Paid-up 20,000,000
Leserve Funda
*Starling ...$ 6,500,000
Hong Kong Currency
Boberts ----$20,800,000,
Reserve Ländility, of - Pro-
printors
HEAD OFFICE: LONDON Paid-up Capital
Eeserve Fund
£3,000,000 EES,000,000
20,000,000
Esserve Lishility of Pro-
vyzietors
HEAD OFFICE: HONG KONG.
BGARD OF DIRECTORS.
Hon. Mr. J. J. Paterson
Ch
G. Miskin Ex.
Deputy Chairman.
Alor Star
Bangkok
Bombay Calcitla Canton
£3,000,000
Agencies and Branches:
Ipak
Xiang
Bangoon
Semarang Seremba Shangha blagajarE
TH
Cawnpor
Hon. Mr. WH. Bell, J.B. Masson Esq., Cabe
B Compton Esq., T. E. Paars Bag Cole
Hon. Mr. S. H. Dodwell,
| Dečki
Haiphong
J. A. Plummer Esq. Hamburg
Flos. Mr. M. T. Johnson,
A. L. Shields
V. M. Grayburn, Esq.
SANGTOK
SATAVIA
CALOUTTA CANTUM CHEFOO COLOMBO
Chini MasagNE-
ARANCHES :-
LONDON
MANILA
MCA EU) NCKDEN
NEW YORK
PEIPING
PESANG
POOCEO
RANGOON
KAIPHONG
DAIGON
FAMSUNG
SAN FRANCISCO
SHANGHAI
SINGAPORE
SURABA
CSUEL
HASKOW
FLASHIN
BOMGEET
منامة
JEUER
EUFLOON
SUN ZEMPUK
TRENTSIS
TOKYO
TSINGTAO
ΣΟΚΟΗΑΜΑ
Hookow Harb
Esq., Hong
Current Aromunis apwond in Lomi Curricy and Shed Degastie procred Sor one year or shorter pers in and Correory and Simching on co
We quoted on application. Albŭ up to date SAFI DEPOSIT BOXES 1 cnou s TO LEI.
Hong Kong, 24th February, 1936.
HONG KONG SAVINGS BANK
W
The Best of the above Bank is conducs
o an cho MONG TÔNG LẠNH SAU GHI MARKING CORPORATION.
PORKANAL OR application
Bale may
FOR ZRE HONG KONG AND SHANGHAI RANKING CORPORATION.
་
V., GRAYBURN,
Chiel Jannes.
Hong Kong, 24th February, 1336.
THE BANK OF EAST ASIA, LTD.
Lord Capi6-19 Nal-up Capital
Bessere and. Undivided Pro
Kosla Lumpur Kuching
Marila
Madan New York
Taiping
Tongka
(buked) *alated Yobookma Zamboanga
Foreign Enabanga sand General Banking business Szucsacted.
Current accounts copened, and Fizać. Depouta Fed for one year or shortae pariada al cele which will be quoted on appùcation.
The Bank's sad Ofice in London undertakes Zamute and Truschen -bosinama, and recovery of Beruas Incouze Tax overpaid sarta which may be severiained at ang of ice Apomena and Branchen.
A. BRBARLEY,
o
Manager.
Hong Kong, 1st January, 1935.
Banks
5.K. Bank $1,58232 TL FK Bank (London) £101. Chartered Bank S143% 1. Mercantile Bank A. and
£31 n.
Mercantile Bank C £14. Bank of East Asia $73 n.
Insurances
Canton Ina. $255 n.
Union Ins. $525 m.
China Underwriters $1 m
China Fire Ins. $462 n. H.K. Fire Ins. $250 n.
NEW YORK SHARE BANK DEPOSIT CASE
MARKET
Taking Of Profits Favoured
NEW ADVERTISEMENTS
that the burden of proof is upon PUBLIC AUCTIONS
(Continued from Page 9)
him, that the Bank clothed, the Further in cross-examination be second defendant with ostensible. said he realised that everyone in authority to do the acts in this the Bank had different duties to case. Newsholme v. Road Trans FURTHER ADVANCE POSSIBLE perform and that at the place port and Gen. Ins. Co. Ltd. (1929) where second defendant sat in the 2 G. B. p.356, does not support Messza. White, Weld and Comformer Bank premises. there was the plaintiff's case but is in favour Hpany, New York Correspondents high wooden partition in front of the Bank.
for Messrs. S. E. Levy and Coms of him which was not really de- I think I have dealt with all the pany, report:—~
signed for the receipt of, moner cases cited on plaintiff's behalf jand that some distance away there having any bearing on the case
a low counter over which under · consideration and not one!
of them is to the effect that a principal is liable for his agent's fraud if the act of the agent' is
was
Evidence Accepted
[CE Undersigned have received.
Instructions to sell by Pròlid
Auction
on
Wednesday, the 15th July, 1936- commencing at 11.00 am..
at their Sales Room,
Duddell Street
A Quantity of VALUABLE HOUSEHOLD
FURNITURE
comprising:—
Iron Safe, Steel & Teak Desks,
Stocks:--Any further amall rise would meet the resistance points, which railroad stocks, in particu-oney passed. iar, failed to penetrate since 1933. Should the averages surpass 163.0 for industrials and 520 for rails, I accept the evidence of Mr. committed outside the scope of his Steel & Teak Filing Cabinets
Glass cabinets. Office Chairs,. a further advance would be indi- Church as I consider he is a far authority-rather they are to the
That being so I have Chairs, Partitions, Tables, etc., etc. International Asace. Sh$34cated. Meanwhile, we favour the more trustworthy witness than the contrary.
also Shipping
taking of trading profits. Business plaintiff, and I accordingly find to consider whether the Bank is
One "Royal" Typewriter. (prac»» as a fact that second defendant estopped from mising the defence | done-1,420,000 shares.
tically new rebuilt). Wheat: The showers have been was not authorised by the Bank to that the second defendant was not bis inconsequential in most areas and receive or to pay money and that acting within the scope of
in doing the acts the setbacks in prices are attract he had no authority to issue the employment
(Exs. which plaintiff alleges he has Total two deposit receipt books ing broader demand.
"A" and "B"). Further I am sa-performed in this case, by reason sales:-44,346,000 bushels.
of the fact that the Bank held Corn:-While the indications of tisfied that the sums shown
Douglases $36 n.
H.K. Steamboats $21 b. Indo-Chinas (Pref.), $90 x. Indo-Chinas (Def:) $20 m Shells (Bearer) 96/3 n. Union Waterboats $12 s.
Docks, etc. HK and K Wharves $37 1. HK and W. Docks $10% b
THE CHINA & SOUTH SEA BANK. Providents (Old) $1.05 n.
LIMITED
{acorporated in China). Hood Offer Shanghai Capital
.$7,500,000.00 Reserve
$1,500,900.00 Branches-All Important Cities
Chine Foreign Exchange and General Banking Busin
Carrak and Bering desouzas opened and Fized! Depositveď der aus zur of charter pecicla mà imion which will in gereed_on_application
500 Z. CELING,
HONG LONG ERANCH: M. De Vanz Bosd, Camera).
Foreign Exchange Dept. com
Cashier's Oos
THE WING ON BANK, LTD..
Head Office: Hong Kong
26, Des Voeux Road Central Authorized Capital. $10,000,000 LONDON BANKERS:-- Westminster Bank, Ltd Foreign Exchange and every des 1,095,306.cripton of banking business transact-
$30.000.000.00 $800.00
HEAD OFFICE-HONG KONG.
14 Des Feat Bosch. Catatan
BOARD OF DIRECTORS
Bon Sir Shot-son Chow, Chairman I wok, Eng. Wong Tea Tong kag Chan Ching Sisk. Reg. Li Lan
4 Loan Chan, Esqu
Lan Tung F, Eng., Chit Menneet..
In The 2006. Faça Kangur. ZORANCELES-AND-AGENCIES, p==
Manita
Maibourne Sagasaki
Bow Yock
Open
Paci
Petping
Padang Razgows
Ямар
Sursion
Tubola
Tokyo
Bracy &meription" of Banking sad Kuckaupe basse SERANciel." Losse grabbed on approved opened in Local Currency
and Fissed Deposit rédarved for cos of short periods in Lee and Femi Cara
Sertza winok wil be quoted on application:"" Safe Dapons Boas To Let
Chini Mazzy
THE YOKOHAMA SPECIE BANK
~~IGATED"
Established. 1884
Capital (fall paid-up) Yen 100,000,000 Yen 129,150,000) Reserve Fund
Head Office: YOKOHAMA
Branches and Agencies at
Nagasaki Nagoya
"AJETEDĀTIE
Berlin
Bambay
Calcutta
Canton
Dairen (Dainy)
New York
Fangtien (Mukden) Rio de Janeiro
Hamburg
Hankow
Harbón
Osaka
Paris
Peipite Rangoon San Francisco Semarang
Kang
Shanghai
inking
Sourabaya. Sydney Tientsin Tokyo
Tsingtan
Tingkow
Karachi
Kobe
London
Los Angeles
Manila
Singapor
interest allowed for Current Ac
CORETS.
Deposits received. for fixed periods
on applica st rates to be obtained tion.
G. KISHINAMI,
Hong Kong, 3rd July, 1938.--
SHANGHAI COMMERCIAL & SAVINGS BANK-LISTED---- -----(Incorporated in China)
Capital paid up....$5,000,000. Reserver
$7,500,000 Capital Savings Dept. $500,000 Reserve Savings Dept. $600,000. Head Office Shanghai
A Bank having" bi- Etu" animion the industrial development an China and the fostering of ber commercial relations abroad. Hong Kong Oncə...............
6, Queen's "Road Central Phoon SILIA
Tad.
Current Accounts and Savings Ac- counts opened. Fixed Deposits re- caived at rates which will be quoted on application.
Trusteeship & Executorship under- taken. Safe Deposit Boxes for hire.
PHILIP GOCACHIN
Chief Manager.
THE AMERICAN EXPRESS COMPANY, INC.
Inserparated with Xinlised Liability in Thuậh
Head Offices-55, Broadway, New York
Capital Surplus Rest-Tes
U.S.$6,000,000.00 2,240,344.38
897,612.65
Kapine
BRANCHES:
Late
Goo Ginayow
Montewex Xian
Asbuna
Angton
Bala
Baran
Bombay Beaten Brusni
Celis
The Hegna
Bambang
Heidelberg Interlaken Jerusalemm
Liverpool.
Colombi Copenhagen Dibalas Edinburgh Farwan Genere
Muziek
Pazins Bostardato Bathe Shaochel Sampl Kingapore Doshda
Zaciek.
Branches at Anzeican Express. Company in Principal cities of United |States of America and Canada.
All classes of Commercial Banking |Tramactions- undertaken.
Hed
Personal investment accounts hand-
The Company offers to intending Travellers the use of ita "Izavelers Cheques" and Letters of Credit and, in addition, the world-wide services of its thoroughly equipped Travel Department.
C. H. BENSON,
-- General Manager.
HONG KONG HEIGHTS
For the information of visitors the following list of some of the highest points on the Island and Mainland is published:---
ISLAND
Victoria "Peak Signal Station Mt Parkers.
Providenta (New) 20 cts: n. Hong Kew Sh.$185 ^n. New Engineering Sh.$4 m. Shanghai, Docks Sh.5100 m.
Mining Kailan Mining Ad. 11/6 2. Langkats (Single) Sh.$8 n. S'hai Exploration Sh.3434 n.. Shanghai Loans Sh.14 L Raubs $104 1
Venz: Goldfield $44 b- Antamoks $5 b, $5 sa,
Atoks 90 cts. ♫
Baguio Gold 40 cts. b. 40/42
cts. sa:
Balatoes $221⁄2 b.
Benguet Consal $19.40 sa
Benguet Exploration $2 cts.
b..
33-359 cts: s
Big Wedge 65 cts. n. Consolidated Mines 5 cts. By
54/57/2 cts. S Demonstration $1.55 sa. Ipo Gold 31 cts. n. J: Itogons $1.92. n. LXL $3 b.
$2.
Paracale Gumaur 65 cts. b... -Salacots Mining 12 ets. 'n.
San Mauricio $1.40 n. Sayoc Consul 54 cts. n. United Paracales $1.55/1.40
Landa, Hotels, etc. H.K and S. Hotels $440
$4.40 sa
high.
晶
withdrawn
who
Terms: Cash on Delivery LAMMERT BROS.,
Auctioneers.
Hong Kong, July, 14th. 1936.
\HE Undersigned have received
Auction
Tintrusions to sell by Public-
ON
Friday, the 17th. July, 1936, commencing at 2.30 pin. at their Sales Room,
35 Hankow Road, Kowloon..
A Quantity of
VALUABLE HOUSEHOLD
a good decrease in the visibleEx. "A" and "B" as having been second defendant out as having from the amounts ostensible authority to do the acts supply of corn are attracting at- tention, the weather is still the standing to the plaintiff's credit in question.
in the two Savings Department The only evidence as to this is dominating factor..
evi- Cotton: There was some bedg-accounts were not in fact paid to that portion of plaintiff's
plaintiff out of Bank money but dence where he says that some- ing against releases. The reac tionary trend is likely to continue. must have been paid by second times he saw
second defendant No. defendant,
had misappro-issue cheques and receive money In spite of scattered light rains,
sums of $2,000 and behind the Bank counter. Having the temperature is still generally priated the
$1,200 respectively, out of his regard to the other portion of his Flash: Steel mill activity dur-own money in order that plaintiff evidence dealing with the part of should not discover his fraud. It the case to which I have already ing the past week is estimated at
Chesterfield Suites, Black Wood' follows from this that I find Exs-referred and to the rather shifty Ware, Teak Bed Room, Dining 69.0 per cent of capacity as
"A" and "E" to be forgeries. |against 67.2 per cent the previous
and unsatisfactory nature of his Room & Drawing Room Furniture, A considerable number of week.
aa-levidence as a whole and especially Ornaments, Cutlery, Porcelain & thorities have been quoted by in view of the evidence of Mr Glass Ware, E. P. & Brass Ware, both sides. For the purpose of Church on which I feel reliance Gramaphone & Records, Enamel- my decision I consider it sufficient can be placed, I do not believed led Bath, Rattan Ware, etc., etc. to consider those to which I have what plaintiff says as to second On View from Thursday, the by Mr. McCallum defendant receiving money from 16th. July, 1936.
COMMODITY PRICES
Prev. Yesterday Closing Closing
been referred
other people.
No Evidence
FURNITURE
comprising:
Terms: Cash on Delivery
LAMMERT EROS.,
Auctioneers
Hong Kong, July 14th, 1936.
The following quotations. have on behalf of the plaintiff. been received by Renter:-
Other Cases Recalled
Barwick v. English Joint Stock That being so, there is no evi- Bank (1866-7) LR 2 Exchequer dence of the Bank having held p.259 and Lloyd v. Grace, Smith out second defendant as being in- and Co. (1911) 2 E. B. p.489. and vested with the authority in ques-USE A (1912) A. C. p.716 merely decide tion. I feel that Mr. McCallum that a principal is liable for the must have realised the weakness fraud of his agent acting within of his case when he was driven to the course of his business. In the submit that any clerk which the Hatter
case Lord Menaghten at Bank puts behind its counter is p.736 says "I think too, that clothed with an the expressions acting within his thority to receive money authority." "acting in the course of half of the Bank and to back rewithin the scope of his duties will tion with a transaction.not coming 16.578 his employment and the expres-ceipts for that money-although not render the company by which 16-69nsion 'acting within the scope of his possible not to sign receipts.
New York Cotton: July
Masbate 93,96 cts. sa. Northern Mining $45/431⁄2
October December January cts. March
21
May
Spot
13.50 13.42 12.69 12.53 12.63 12.55 12.67 12.53 12.67 12.52 12.67 12.51 13.59 13.52
New York Rubber:
July
September
16.651 16.722
·16.62
October
16.74
December
16.81
b January
16.840
March
16.90
May
Chicago Wheat:
July
December
17.00
104148 103 104 104 105% 105%
16.95
thing."
Chicago Corn:
September
8234
December
76
82% 764
Winnipeg Wheat:
July
91
90
91% 914
903
91%
H.K. Lands $294.
HK 4% Debentures 100% b. Shanghai Lands Sh.$13 n.
Metropolitan Lande Sh. $10 n. September
Humphreys $8.55 .
FAK, Realties: $4% 1.
Chinese Estates $80 n.
China Realties Sh$4 IL China Debentures Sh.$60 1.
Public Utilities
H.K. Tramways $1024 by, $10.-October
70/10% sam Peak Trams (old) 6 n.. Peak Trams (new) $2 Star Ferries $85% n Yaumati Ferries $20 a. C. Lights (old) $101⁄2 n. C. Lights (new) $7%1⁄2 n. ELK. Electrics $50 b, $50/50
•
Macao Electrics $18% n Sandakan Lights $8.30 n. Telephones (old) $25%) 5. Telephones (new) $33⁄41⁄4% n. China Bunes Sh.11% z Singapore Tractions 82/6 b. Singapore Pret 28/- 1.
Industrials
Malabon Sugar $9 b.
December
16.77
agency" (which Story uses) as 16.79 applied to
agent, speaking 16.88a broadly. mean
one and the same
ад
ostensible al- on be-
*the
Want Ad
FOR
QUICK ACTION
he is employed liable in respect of He laid great stress of
its consequences to a third party.” plaintiff being an illiterate man Royal British Bank, ex parte who could not be expected to have Frond (1861) 3 L. T. p.843 is the in this case the House of Lords any knowledge of the internal ad-authority on which this passage
Now is based. decided that a principal, is liable ministration of the Bank
for the fraud of his agent acting plaintiff was 20 years in Canada Proposition Untenable within the scope of his authority and has sufficient knowledge at I am satisfied on the strength whether the fraud is committed business to remit his savings from of the foregoing that any clerk... for the benefit of the principal or there to a bank here and to sub-which a bank puts behind its for the benefit of the agent, and sequently transfer it from the counter is not clothed with osten- receive money that Barwick v. English Joint first bank to the "Bank, so there-sible authority to Stock Bank (supra) is not an an-fore I do not consider he is as on behalf of the bank, much less thority for the proposition that a simple or innocent as he is made to give a final receipt for it. principal is not liable for the fraud out to be. He does not appear Were, it otherwise it would put a it dishonesty, 23 of his agent unless committed for to have ever inquired of second premium on
defendant as to the nature of his would require little 'Ingenuity for the beneft of the principal.
v.duties and he certainly ought to a dishonest bank clerk and an un- The decision in Melville
C. B. p.450, have satisfied himself as to this, scrupulous customer to conspire· Doidge (1848) 6, turned on the fact that the Court which he could very easily havaj together to defraud a bank. So,. found that the bank clerk was act-done by making inquiries of the quite apart from authority, the- ing in the course of his business-other Chinese employees of the proposition is, I consider, clearly- Silver Prices Rise
These three cases are not helpful Bank.
untenable. to plaintif as, as stated. I am
-Sweeping Proposition
It was also contended on plain-- The local dollar is steady satisfied on Mr. Church's evidence
Plaintiff relies on the fact that tif's behalf that, as he had given
LOCAL DOLLAR STEADY
opening on demand this morning that the second defendant was not he trusted second defendant as the fixed deposit receipts to the
at 1/3-5/16d.
acting within the scope of his "Spot" silver rosed % to 19-employment. 11/16; while" "forward” advanced. 1% to 190
an official of the Bank No an-second defendant to collect the-
on them and as money
he had.. BarretTM V, Deere (1828) Mood thority has been quoted in sup and M. p.200, as stated by Lord Port of Mr. McCallum's rather Presumably, done so, it being ad- mitted by both sides that the Farwell The London on New York cross Coleridge in Graves v.. Masters sweeping proposition
money had been withdrawn from Le J. in Lloyd V.
Grace, Axed deposit; the Bank must be rate was quoted U.S.$5.02% (1882-85) 1. C. and E's Reports,]
Smith & Co." (supra) at p.510 sayld liable for the second defen- Cald, Maeg. (Ord.) Sh$191⁄2 nas compared with U.S.$5.02%, Wys not a case of authority to
while the New York on London
contract, but of payment, and pay cash into the credit of
dant's act in misappropriating · Cross-zate
the money. I fail to see was quoted at the payment was made to a per-my account across the counter of U.S.$5.02-13/16 as compared with son apparently clothed with an- bank and the cashier pockets it
plaintiff's thority to receive it and is there instead of putting it into the till there can be anything in this sub- showing, he authorised the second fore broadly distinguishable from the bank is liable beause he is mission as, on the present ease. Capel v. Thorn-there both to accept and to give a defendant to place the money in This is very the Savings Department of the ton (1828) 3 C. and P. p.352 final receipt for it." merely decides that an agent an-different from holding, as I am Bank Furthermore, in collecting thorised to sell goods has (in the asked to do, that the liability
the money on the fixed deposits
Cald, Macg. (Pref) Sh$15 n. Canton Iees $1 n. Cements $8.90 b. EK. Ropes $3.90 m.
Stores, etc. Dairy Farms $191. Watsons $3.45 z
Lane, Crawfords 36% n. Mackintoshs $5. Sinceres $3 n.
|£—US$5.02-15/16
RAW RUBBER
Buying Quotations From Ellis & Edgar
Delivery July 14 Last Price Change (old) Sh. Spot 26.13/16. 28.15/16-1/8
OLD. 27. 3/16 27. 5/16 J.M.
Win Powells 40 cts. n. Wing On (HK) $50 n.
Cotton Mills. Ewo Cottons Sh 7% i Shanghai Cottons
$70.
Shanghai Cottons (new) Sh
$39%
Feat
Zoong Sings 1.$18 m.
1,893
71.774:
Wing On Textiles Sh$25 m.
Miscelaneou
$1,734
Entertainments 32.90 m.
Mountain Lodge
1,725
6. C. Enterprises $135 m.
The Eyrie
1,720
Peak Hobel
1,305
877
Bowen Road (filterbeds)
297
MAIKLAND
HK Gost54% Lows 7% prem
Laimoshan Kowloon Prak
3,124 1,971
FK Cort 3% Lou
Mt. Davis
Macão “Greyhounds", $2 n.. Constructions (old) #13% m/
Constructions (new) 30 cts. b.
Vibro Piling 12 n.
Ch. Govt. 5% 1925 GIBJL.
93% **
prem bi p
Wallace Harpers $4/1/
27, 5/16 27,9/16
27. 9/16 27.13/16
Maricet essier.
*.
Latest Quotations From
Singapore
bow
OIL
the agent of
absence of advice to the contrary) would attach in the event of pay second defendant must be regard- an implied authority to receive the ment being made to any countered as having been proceeds of such sale and that a clerk other than a cashier. In the plaintiff as it was not his duty person cannot avow the acts of his Hart's Law of Ranking 4th Edo collect such money, agent as to one part of the trans-Vol. 1 p.81, to which Mr. Prior For the foregoing reasons action and repudiate them as to has referred me, there appears the answer all the issues in the nega another: I do not consider that following passage under the tive and give judgment for the {this - case
any bearing heading "Clerk"-"But in most Bank with costs in both actions on the one under consideration connections a clerk' signifies aAs regards the claim against subordinate employée whose an- the second defendant, as the evid- vour of Bank
thority is limited by the particular ence of the plaintiff is
In
has
tim.com-
I have also been referred to the functions which he is appointed to tradicted. the second defendant passage in the Judgment of Lord discharge. These functions may apparently having absconded, I' Messrs. H. Joseph and Co Blackburn in National Bolivian vary from time to time, and the mast accept his evidence as to the have received the following Navigation Co. v. Wilson (1879- liability of the banking company receipt by the second defendant of* quotations in Straits currency 80) 5. A. C. 176 st p.209 wherein for his acts will depend upon the the money in question, and as from Singapore for Raw Rubber he says Where an agent is cloth-nature of his employment for the second defendant did not lodge fed with ostensible authority no time being" This quotation ap-same in the Savings Department private instructions prevent his pears to have been made on the of the Bank he must be taken to within the scope of that au-authority of Melville v. Doidge have applied the money to his On use, and therefore give from binding his prin" (supra).
This dictu can only Immediately following on the judgment for the plaintiff against the second defendant in both BUECHERS insane page appears 'this'sérita
ered "The fraud of a clerk in some actions for the respective claimed, together with costs.