September 13, 1902.)
thought that if we had one more it would be much better.
Mr. ARNOLD-But does this amount to an increase in the directors' fees?
The CHAIRMAN--Well, that depends on the other dire tors, and if they like they can state any reason why they think the remuneration is not sufficient,
Mr. GEORG-As long as the directors' fees are not increased we have no objections to the ap- pointment. But why not call an extraordinary gener. I meeting and put the matter as a resolu- tion to the shareholders ?.
The CHAIRMAN-What about, say, $400 between three ?
Mr..OSBORNE-No, I am not agreeable. I have known the time when the shareholders paid nothing to the directors, but there is Do reason now why they should not pay. The company is in a position to pay its directors, and I see no rea on why we should do the work for nothing. I like to be paid for my work.
Mr. ARNOLD-What you say is perfectly correct, but there is a deficit in the accounts of $2,000.
Mr. OSBORNE-I am awaref the fact, but I don't think it is all the fault of the board of directors. I say, like the Chairman, that it is very generous and very nice of the share- holders to allow the accounts to be passed, but if you give us something with one hand I see no reason why you should take it away with the other.
After further discussion, Mr. MILLER seconded the motion for the confirmation of the app intment.
The CHAIRMAN-Is there any objection to the election of Mr. Musso ?
Mr, OSBORNE-Put the role to the meeting and find out.
This the CHAIRMAN did, with the result that the motion was carried.
Mr. GEORG-I have much pleasure in pro- posing the re-election of Mr. Gourdin as auditor, that he gets $3 10 for his trouble, and that the accounts be audited mouthly.
The CHAIRMAN-I beg to second that. The motion was carried nem-con.
of our-
Mr. OSBORNE—The $300, is that a portion The CHAIRMAN-It has nothing to do with you or me or anybody else.
that for a small
Mr. GEORG The Company pays it. Mr. OSBORNE-Oh, that's all right. Mr. ARNOID-Is it not possible to bring the accounts out earlier? It seems preposterous like this the accounts for 1901 only make their appearance towards the close of 1902. I beg to move that in future the accounts be published not later than 31st March in each year.
concern
The CHA RMAN-With the supervision and assistance of Mr. Gourdin, we shail, I hope, be able to place the accounts before you earlier in
future.
{
Mr. OBB BNE-D: n't you think it would be better to put that as a resolution?
Mr. ARNOLD-I don't think it is necessary. This was all the business, and the meeting broke up, Mr. GoURDIN vainly endeavouring to obtain a hearing for the reading of a docu- ment which he produced from his pocket.
UNIVERSAL TRADING CO., LD.
The following is the report of the general manager for the year ending the 30th June, 1992, for presentation to the shareholders at the second ordinary annual meeting of the Company to be held at the registered office of the Com. pany, 4, Des Voeux Road Central, on Friday, the 12th September, at noon.
Gentlemen, I beg to submit to you the report and statement of accounts for the year ending 30th June, 1902.
The net profit for that period amounts to $33,847.75. After deducting the interim divi- dend of 6 per cent. paid on the 21st January last, there remains a balance at credit of profit and loss account of $11,085.25 which it is pro- posed to carry forward to credit of new account. The accounts have been audited by Mr. W. Hatton Potts, who offers himself for re-election,
ELLIS KADOORIE,
General Manager.
Hongkong, 5th September, 1902.
CHİNA OVERLAND TRADE REPORT.
The accounts are as follows:-
Capital
• BALANCE-SHEET.
For the year ending 30th June, 1902.
LIABILITIES.
C.
$ 8.625 shares of $20 fully paid up 172,500.00 41,375 shares of $5 paid up 206,875.00 Reserve fund
Due to general manager Balance of profit and loss Sundry creditors
I cans
ASSETS.
Cost of property in Sh nghai Hongkong and S'hai Banking Corporation Cash on hand
Chargos
PROFIT AND LOSS.
Interim dividend Auditor's fee...... Balance......
Furniture account depreciation
Balance brought forward from 1901 Interest on loans
$ 0.
379,375.00
10,000 00
228.00 11,085.25
$404,404,98
SUPREME COURT.
Tuesday, 9th September.
205
FODSO
mova-
words, infer such meaning from the attached to them by the law of the State in which the will was made." These two passages follow shortly after another, which is as follows: Generally speaking, all questions touching the validity, construction, and effect of wills relating to immovables are determined by the lez situa." In Story's Conflict of Laws (edition 3,716.73 1883) the question of Interpretation is discuss
ed, beginning at p. 661; and at p. 663, dealing with the case of wills and testaments of personal 1roperty (by which he means, I take it, bles," considering the context) it is laid down :- "In such cases where the will or testament is made in the place of the domicile of the tes- 2,540.72 fator, the general rule of the common law is that it is to be construed according to the law of the place of his domicile, in which it is made." $404,404.98 | Passing on to p. 671, the question of wills of Immorables is considered and the following passage occurs :-" The same rules of construc- tion will generally apply to wills and testaments of immovable property, unless indeed it can be 22,762.50 clearly gathered from the terms used in the will that the testator had in view the law of the
$ 0. 319,097.79 82,733.17
13.30
C.
$ 5,973.13 600.00
100.00
$40;520.88
C.
11,085,25 place of the situs or used other language which necessarily referred to the usages and customs or language appropriate only to that situs The views of foreign jurists are next 397.18 considered by the author. Then at p. 673, 40,123.70 under the heading "General Rule," occurs this $40,520.83 passage:-"Indeed, it may be laid down as a general rule that wherever words of an am. biguous signification or different significations. in different countries are usel in a will, they are to be interpreted in the sense in which they are used in the law of the testator's domicil,. which he may he presumed either to be most. familiar with or to have adopted." It seems to me that the various cases cited by the authors, so far as I have been able to refer to them (for the American authorities are not accessible). bear cut the positions above laid down. Now the testator (João Bap'ista Gomes) in: This was a summons taken out by Antonio being, it is alleged, a Portuguese subject, domi- this case made his will in Portuguese, at Macao,. Simplicio Gomes against Francisco d'Assis ciled in Macao. The passage of the transla- Gomes and August Jose Gomes for the determinated will to which I am asked to live effect. tion of the question as to what was the proper relates to certain leasehold properties in Hong- share of certain property to which the plaintiff kong in which he first gave his wife a life inter was entitled under the will of tie late João Bap-est. She died about 14th May, 1902, and, in tista Gomes. Mr. M. W. Slade, barrister-at-law, appeared for the plaintiff and Mr. F. H. Sharp, K C., for the defendants.
IN ORIGINAL JURISDICTION.
BEFORE HIS HONOUR W. MɛIGH
GOODMAN (CHIEF JUSTICE).
GOMES v. GOMES.
such event, the testator wills as follows:-“ I further determine that, after the death of my His Lordship in delivering judgment said: Hongkong, after deducting Crown rent to the wife, the income of my suid properties in This is a summous taken out for the deter local Government, insurance charges or repairs, mination of the question as to what is the be divided between our children of the first. proper share of certain property to which the and second marriages in stirpes et nɩn in capitu.. plaintiff is entitled under the will of the late and this I leave to the discretion of my execu Joan Baptista Gomes. It raises an important tors whether these properties should be pre- (point as to conflict of laws, viz. :—Assuming a certain expression in the will to mean one thing sold, the proceeds shall be divided in stirpes et. served without being sold, but in case they are by Portuguese law and another by English law, which law is to prevail? By which is it to be first and second marriages." Now if one non in capita between our children of the interpreted, the testator's domicile being Portu- guese, the will made in that language at and interpreted according to the law of assumes that this will ought to be construed Macao, and the property being immorable Hongkong it seems perfectly clear that the property, viz. leaseholds, in Hongkong-proper way to distribute the property would be, Mr. Dicey, in his Conflict of Laws (published not to count heads (capita), i.e.. not to add in A. D. 1896) chapter 22, pp. 516 to 526, lays together the number of living children by down very carefully the general propositions testator's first marriage, by his second wife's relating to the question of ler loci as applied to immovable property including leaseholds, aud
first marriage, and by the testator's second points out that the distribution of such leaseholds marriage, and give to each child of that total must, on the estate being cleared, be made origin of the children, the stirps, i... stock or uumber an equal share; but to regard the without any reference to the deceased's lex stem from which they sprang, and to divide the domicilii, if the deceased dies intestate, in property into three equal shares as representing accordance with the Statute of Distributions (lez situs) and, if the deceased dies having made
the three stirpes. Of these three equal shares, a valid will, then in accordance with the terms ought to have one, divided equally between the children of the testator's first marri gə of his will, succession to the deceased's chattels real is
In other words, the beneficial them, the children of his second wife by her governed by the lex situs applicable to the of the testator by his second wife ought to have first marriage another, and the child or children particular kind of immorables." (pp. 519-20) the remaining third share. happen if certain terms in the will would the words of the will would not have that mean- He does not, however, state precisely what is to
I am; however, informed by the counsel for the executors that convey one meaning to a lawyer accustomeding according to the law of a030 and to the lex situs and a to a lawyer accustomed to the les domicilii of
different meaning Portugal. What wish to ascertain is the testa- the foreign testator, the maker of the will. time, judicial office in Macau and, presumably, for's intention. He held, I am informed, at one But, in the valuable American Notes appen- ded to Chapter 22, occur the following passages, made in that language, at Macao, and as he was as his domicile was Portuguese and bis will was with the references to the American Authorities well acquainted with the law of that Colony, he in support thereof:-"The, Courts of one State meant by his will, when he used the expressions situate by the construction put upon a will would mean to a Macao or l'ortuguese lawyer. will not be bound in respect of lands there
as to stirpes and capita, what these expressions by the Courts of another State." But the I do not think in this case it would be right for Court of the Situs may, in determining the meaning intended to be conveyed by ccrtain that the testator must necessarily have meant me to decide the question on the assumption