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CHINA MAIL
WEDNESDAY, JUNE 20, 1956.
SHEAFFERS
リ
ADMIRAL SNORKEL PEN
Ma On Shan Mines Case: SHAREHOLDERS CRITICAL
Appeal Abandoned
An application for leave to abandon an appeal against the decision
of Mr Justice James Wicks relating to the Ma On Shan Mines was grant- ed by the Full Court this morning.
{ The appeal stood dismissed and their Lordships ordered costs against appellants, to be a charge on the royalties in the hands of the respondents, payable by respondents to appellants under the current agreement dated August 20, 1951.
JUDGE'S OPINION WAS TO
POINT SAYS 'COUNSEL
Hearing of the appeal against an opinion of Mr Justice J. R. Gregg in an action relating to a mortgage debt continued before the Full Court this morning, when Counsel for the respondents presented arguments in answer to submissions made by Counsel for the appellants yesterday.
0
The Full Court comprised the Chief Justice, Mr Justice M. J. Hogan, the Senior Pulane Judge, Mr Justice C. W. Reece and the Pulɛne Judge. Mr Justice J. R. Gregi.
Appellants were the South China fron Smelters, Ltd. of No. 8 D'Agullar Strcot.
They were represented by Mr V. L. J. D'Alton, instructed by Mr M. E. ives of P. Mo and Co.
The Mutual Trust Company, otherwise known as the Mutuel
Trading Company and two of its
partners, Yue Wing-kam and Wong Cho-choy, of Holland House, were the respondents.
Appearing on their behalf were the Hon. Leo d'Almada, QC,
Mr
Mr Brook Bernacchi and Patrick Yu, all instructed by Mr P. D. A. femedios of Remedios and Company.
Mr D'Alton informed
morning that Court this Instructions were to make application to
the
his
an
$5.12
The Chief Justice, Mr Justice preferred the Court to Jotters M. J. Hogan is sitting with the which were pul in evidence Acting Pukne Judge, Mr Justice before the Trial Judge. The lys! J. Reynolds in the Full Court was letter which Messrs Zim- Mr Bernacchi sald this mera and Company purported to morning that it was the case of address to Wong Chỉ, Wong Hon the respondents that the opinion and Wong Sau-chun, executor of Justice Grezza delivered the will of Wong Hop, deceased. that Mr
point and Counsel pointed out that there was entirels to the that the complete answer to the way to probate and lotters of whole of the cam was that the administration to the estate, so
for the Court Do that the letter was perhaps Judgemcast of Mr Justice Resco
leave to abandon the appeal. the Trial Judge, was clear and
randtle misleading in the sense that
said Mr Bernacchi
that he unambi Sous, and not only wodit purported to be addressed to
understood
from
Mr D'Alton! it res judicata, but on the facts
that he (Mr D'Alton) consented
Coursel to costs,
asked that the costs be charge on royalties in the hands of respon- dents, payable by respondents the to the appellants, under current agreement dated August 20, 1851,
the executer of the will of
it would be a shocking abuse Wong Hop.
of the process of the Court to alow L Kathu and two other excoutors who joined with hien
be
to ro-open the whole matter before the Registrar.
Counsel
noticed executors this; only three of the executors were adopting this Attitude
gaid that it would the that not all
clo were trying to
four
INEQUITABLE
Mr Bemacchi said that yes- tendday Mr Wilght told the Court that it should look at the Li case and 400 what whole
was accking to put up Ku-shua
thue purpose of deciding whether it was not equitable to raise that Issue before the nothing "I Registrar.
kay could be more inequitable," Counsel said.
ter
Giving what he called a back- Around of the case, Mr Bernacchi
It was a letter i which Ll Chung-po who was the same as Li Ka-chu, that the mortgage debt and interest were paid 1952 and nbout November 7, that the title deeds and docu- ment had not been returned.
We
the
he
writ,
Counsel next referred to the answer written by the solkitors of Wond Suchu He said Hon, returned to Hongkong and
of enquiries ng a result that even if Wong Sau-chius was
obtained copies of these letters, a co-mortgagee he
could not Wong's legal advisers decided even by receipt of
the money that they must commence pro affect the respondents' rights to
ceedings by way of they payment because
because quite obviously there tentante
and not
was an issue in the case as to tenants, Joint
whether or not the principal, had The next letter was one from
been repaid. Zimmern and Company, to P. C. Wos and Company stating that the le deeds were returned to Woo and Company
Commons
Counsel said that in time the folve surviving mortgages, Wong
Attention!
The
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of styles and colours
they last Sc
early
-
from $40.00
while
get yours
Paquerette's
Can-Cans Bell-Hoops
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Tel: 21:157
slinkers
and
Frou Frous
MARELORSAYA SANDHAT:
It was clear that there was a dispute as to the fact of repay ment end therefore proceeding were comumended by writ and not by summcms, Counsel said.
Hearing 19 continuing.
frills frills and MORE FRILLS!!
SIDE GLANCES By Galbraith Lombard Insurance Co's
"It's only a routine quarrel—they have it whenever Dad adds up the bills and finds he's going bankrupt again!"
Striking Seamen To Be Repatriated
to
пож on a
Business Falls Off
CHAIRMAN'S EXPLANATION
Disappointment over the working results of the year was expressed by Mr B. W. Bradbury, a shareholder, at the annual meeting of the Lom- bard Insurance Company held this morning at Alexandra House, Mr. Bradbury said that the state of affairs indicated lack of good manage ment, and he also read extracts from letters sent to him by three share- holders residing in England which expressed dismay at the reduction of the dividend and the drop in the market value of the company's shares.
Mr J. Hennessy Seth also expressed concern over the operations of the marine insurance department.
Replying to Mr Bradbury, the Chairman said 'the management were satisfied it would not be in the best interests of the company or its shareholders to close down the marine department as suggested by Mr Bradbury.
Ing the meeting said:
denda." 1/0/80.
Mr B. W. Bradbury, address-pend on so much on my divi- | My comments in 1952 upon
the large claim ratio for 1951: Replying to Mr Bradbury, were considered at a meeting.of. the Chairman said:
Most Insurance companies not only in Hongkong, but throughout the world have, during
the past few years made substantial progress and have, Increased
whilst
accordingly
the
Mr Bradbury, thank you for your remarks.
feel that your reference to an underwriting loss of $750(- dividends to their shareholders 000 is mislending. The Marine is doing loss is, admittedly, $437,034 our Company exactly the reverse, obviously but the Fire and Accident pro-
of affairs this stato
indicates its total $402,372, leaving an
adverse
balance lack of good management.
underwriting To say that the statement of at $34,682. To this small loss accounts is very
the disappointing on
underwrling balance
General
the
be added the
the Consulting Committee, and the General Agents wrote under date of 5th August, 1952:
"You will appreciate that Ris 100 early in the year to mate with ” any ceftainty what the loss ratio for the year 1963 will be but wa have reason to hope that, with the eliminetion of certain business which was a source of trouble to
1001 nd, with a better ex- perience to dalo at certain other Agencial, the resulta will show as Improvement".
·
FEARS RELIEVED
Marine
Prent
as WOR
daw 1951. In the same
is definately an under-statement must of course four it appears that the Company two major lems of
The information furnished ró- has lost approximately $750,000 Expenses and Taxation on Inteyed my immediate fears, and on the worlding of its Insurance vestment Income and Under- I looked forward to the result business during the past flounchal writing Profits which together of trading in 1953 with a feel- year and this heavy loss has to account
for $700,000
of your ing of quiet confidence. This has met by
to the extent figure
was justifled, and De me drawing
of $750,000 from of more than 50%
While it is difficult to assess Loss Account received $150,000 tho from income derived from the Com- exactly what portion of
Underwriting taxation figure of $312,000 can Account, for that
in pinça YOLE pany's investments, Arrangements are being made to repatriate
underwriting of the Marine Account receiving The marine insurance depart-be
attributed to
is certainly true to say a larger cum from Profit and Rangoon the 46 Burmese members of the crew of the ment of the Company appears profits, it is
trace Burmese ship Aungmyitta, who are
to be a consistantly“ heavy that a substantial portion of the Log Account looser and I think it is time the total of $212,000 together with a ferred protest strike against the alleged withholding of Management seriously consider-maller portion of the Genural your transfer from Fire Under
Account proximately their pay, an official of the United Trading and Ship-ed the closing down of this de Expenses total of $383,000 should writing
$140,000 loss than ping Company, the vessel's local agents, said this partment and thereby eliminate be charged apnet investment
losca, income and not the underwriting | My relief was short lived
the the associated heavy
previous year. morning.
comunissions, claim, Etc.
CONSTANT CONCERN. The merger of the two Com Even if the. whole of the in-
Unquestionably the results of panies took place in October,
and 1959,
consolidated surance business of the company our Marias Account for the past Lombard Marino Underwriting
the was closed down, a very small three years have been unsulls Account for 1983, required
take care of
factory and I can assure
you
transfer investments that they are a source of
of $350,000 company's valued at
for Contingeneles to over thirty million
lop stent concern to the Managebolster it up. In the same year vield approx ment.
that
"the
When reminded striking crownen had said last night that they would refuse to be repatriated by any ship other than the Aungmyitto, the officiat said: "That remains to be seen.” Mr C. P. Tan, the Honorary Consul for Burms in Hongkong, and General Manager of United Trading and Shipping Company, and U Ba Chan, the General Manager of the Union of Burns Shipping Board which owns the Aungmyitter, who was here ca a visti, were reported to have left for Rangoon by air this morning. The crewmen went on strike Wednesday In protest against the withholding of their wagts. They were taken off the ship, which was undergoing her anal overhaul in Kowloon Dock, on Sunday and sent to
in two Kowloon hotels. sting demanded full
200 cigarettes a week dirty free and
no deductions from their wages because of the strike.
pay,
CHILDREN HURT
IN ACCIDENTS
A ten-year-old Chinese boy was knocked down by a private car in Queen's Road West, near Centre Street, at
p.m. yester.
The boy, Wong Yun-bor of
LETTERS TO department could
THE
EDITOR
Fishing Offence
in
I am curtous and would be
W03
the
dollars
which
overheads i results for the years
Сор
terve
Re-
both consolidated Fire and Ac
$1,393,667 annually as this alone However the Management are eldent Accounts showed reduce
shareholders acatisfied that your suggestion
on each of Marino Department would not| 1993 Account
in coMMA..
have received from disappointed { of car operations makes it most dive in 1954, and received games -
are
and Morine-
to transfer $900,000 more
would assure regular dividend of at least 13 that we should close down the tione in transfers, to Pront and
L093 per share annually
the combined Canton the 383,024 issued shares of the be in the best Interests of the the com Dear · Sir,--Appearing
Fire and Hongkong Company or its shareholders for for 1952, The Marine Under yesterday's issue of the China company.
The following extracts are the following reasons: Mall was บ short note 45
of several lettura I from three
Firstly the follows:--
composito nature writing Account took p
090 from Front 'and Loss Aca Two shareholders who retired desirable that we should provide "FISHERMEN FINED,
We were people and fellities for the three principal count,
fortunate Ashermen, Wong Ngau, 22, and Hongkong business
UK, they classes of business, namely that year to be able to
reapproximately Leung Chor-yee, 35, were each now resident in the fined $10 by Mr. A, G. Parker invested in this company's shores Acc
Accident them to at the Marine Court this beleving
be a good to a large degree are comple- then in 1953 from Fire Under morning when they pleaded sound investment and they are mentary to each other. In other writing Account to Proft and to offset the guilty to flahing with bright to some extent dependant on the words our Fire and Accident Loss Account,
of the Marine alarming position income from same.
business would suffer to some lights"
extent if we ceased to transact Account. RECEIVED A SHOCK
Marine business.
A SEALED BOOK Tho
of Marine .conduct grateful for information as to the Extract from a letter address-
ACTIVE MEASURES Insurance is a sealed books to law or regulation which
ed to me by Mr C. C. Bhako, being contravened, because on "Cart Lodge", Worth Park, Nr
Secondly, as I explained in me, but emination of business almost every fine night through-
"SUSOX, Crawlay,
my reply to your statement at which was a source of trouble England, the year many boats with
received a shock" today to
Inst year's meeting, activa in 1951, could not have taken "bright lights" may be seen fish-t ing in and around Repulse and get the news about the Lom casures have been taken, and place as indicated by the com bard's dividend reduction from re being taken, to improve our munication dated 50 Augus other Bays in Hongkong,
particularly as you marine underwriting
1032, because in the Chairman's We are determined statement issued with the Ac thuld it perhaps have beentera so confident of an increase tablish
the method of fishing the de-end the fall in price from $50 to
our Marine counts for 1935, the 1951 risks wree of brightness of the Ughts? to 146 is bad news. Have they Account on a profitable bass, are still being run off and
and Inay which
and the fact that our Marine continue to do so for the next or the ace in hit these made a big marine underwriting losses. of 1954 were reduced by few years, were working
The less said about loss? Something is two fishermen into trouble? los
definitely
to half in 1955 encourages us ment of
the the man Perhaps the lights that I ece. wrong in. management
loss ratio to date in relation However, I should again other first class insurance con- most nights in Ropulse Bay are this company and I am sure that believe that we ahnil, succeed to this business the better, stack not considered "bright lights?: you will have much to say at emphasise that recovering from panics suffered like
roverabs bad cycle in the marine should have accepted these as market in inevitably a slow
exceptional losses occurring from. time to time in marino Insurance, GIVEN WARNING. but I cannot help feeling we Mr J. Hencesy Both said rushed in where wing InsurCZE.
•Would If not At the annual general meeting feared to tread.
the
sustained injuries and is now I am sure others in the Colonya, annual meeting the DCESS.
14, Sai Yuen Lane, 3rd floor,
detained in hospital for treat ment,
A motor lorry hit an eight- year-old girl in Calne Road, near Castle Road, at 2.65 p.m. yesterday. The injured girl, Chan Fal-mul of 6, Castle Road, ground floor, wag removed to hospital, where stie is now de-
Cheng-tel
girl residing at 90. Holy Cross Path, ground floor, was injured when she wis „knocked down by a motor cycle
SUV
would be also interested to upon your address to the know the answer,
you
last
which remarks I.
ported. When writing. please
Thank
tell me all about it. With near- II. G. ROBINSON.
all other The offence in the case quotedly all Insurance was that the men were fishing doing so
well, I I don't stand, why | with bright lights in a prohibit- ed area. Fishing with bright lights is legal in specified areas.
Ed., Chino Mall.
Stanley Training
in Main Street West, Shauk Centre Broadcast
wan, 'inst night,
MAN ASSAULTED
concerte
the
of the Canton Insurance Office have been possible in 1952- an oxi as Lombards should fall to be Ltd., held in 1982, I drew atten oven later, to re-insure one of them, I with I Vas
there
tion to the unsatisfactory resalts whole of our troublesome rizice? Marino Underwriting it seems to me that printenco to bave something to add to the of the
would have dictated this step, remarks you are sure to make Account and at the at the meeting" 29/5/50.
Ing shareholders
4000
oven de a losa. At least our losa
Extract from a letter pådressed-by the Chairman deres earned would be crystallized, relloving“-
unless an
看录
us, from further anxiety In this
do me by Mr D. M. Minton, increased prod; was earned, Malling, Kent, England
"Crockland," Trottescline, West would not be possible to recomm comection. The statement that
mend the s
the same dividend,
we have terminated further participollon innprofitables Hull business is welcomed
GRAVE.CONCERNAAN
By recommending the same "I was very surprised to
to sca in the latest Monday edition of dividend In subsequent years," Rediffusion's "Around Hong the Financial Times that Lom-the Committee gave no indica-
tion of the seriousness of the You Sir, seem to derive soma hong tonight at 9 o'clock, with barde were quoted at $45, 1951 marine risks, although its consolatiart from the fact that
this a mistake or what has hap repeat on Sunday, takes Dlue | H Network Isteners around the pened. I hope nothing bad, I members must have been aware the loss on Marine Underwrit should be grateful if you could of the situation. Even as late ing for 1955 was approximately Stanley Training Centre, where et mo A party of Chinese, ermed
delinquents
let me know if there le anything e 1995, when the 1954 accounts 50% less than the previous year with Hon bere ond sticks, lost young
undergo
to worry about and what best disclosed 1005,000, a trans-Not possessing the informa night assaulted an employee of
Corrective
and leave to do: biber shares scen to be feared from Front and Lowes Ac- available the Committee the Centre betw the Talkoo. Dockyard near tho
equipped 10 doing QK" 28/5/80
.༢
count, to
Marin Marine Underwriting further sees
Under Lako dockyard's electric workshop.
Chels
Lamong the
a matter of addressed Account the seriousness of the wring Account is a Extract from a letter addressed
majorit The victim, Chan Tang, agod civil community
to me by Mire M. Stool of "West 1901 risks was not brought to mave concern to the
fort of shareholders. attention of 82, sustained head injuries and In this recorded programme, Ford, Ash Mill, South Molton,
of shareholders who expected is now in hospital, His condition | the work of the Centre Devon, England, the Moon Had fuller disclosure been
turtle nên thu is stated to bo antis tactory,
outlined by Mr C, J. Norman, "This morning received made, in 1964, and a slightly
(peurred follo the Commissioner of Prions, some father disturbing amended at the time, aucil
disturbing news reduced dividend recom-gloss surrend
account Binco: January, and members of the Stanley. about - Loanbarda, Training Centro statt.
have dropped to $45 per share would have been one of mild Marine Underwriting in Rediffusion's :"Around Hong- und -the dividend has been disappointment only,
(Coute, on, Paul kong programme dealing with reduced to $2 per share, Wil |_ the Hongkong Follow Training you, please let me know if any Prinbod and publi Contest Aberdeen, will be thing he gone wrong because behalf of South China Mornin
fyta în Uie bone future mode 18-rather-
200 ari den Street, City of Victorim din Crow,
HELD OVER Pressure on
space makes it necessary to hold over Johrs, Dell's "On the Record notes
!!