Page
March 5, 1906.]
CHINA OVERLAND TRADE REPORT.
them being whether the defendant was the son. I drawn over $5,000, which was treated as tem- The defendant obtained letters of administration | porarily settled. Debtor did not receive a and the plaintiff was moving to have the promissory note for the sum. administration set aside. The property was
The entry 10 the book admitted by both sides to be worth $3,201, of accountant, who was not authorised to make was written by the former which $1,600 would belong to plaintiff. whether it. The statement of his affairs filed was she succeeded in the present action or act. The correct, and he was possessed of no other plaintiff could not find the money to pay the property. He first discovered that the firm costs at present, and under the circumstances Mr. Calthrop urged that the action be allowed to go on. In any case the defendant would be certain of his costs as be (Mr. Calthrop) was willing to allow them to be made a charge on 'his client's share of the property.
Mr. Slade said that any objection to the costs as taxed should be made to the Registrar. With reference to the order by the Chief Justice he submitted that such an order was binding and could not be set aside without application to the Full Court. They were entitled to the costs thrown away through the negligence of the plaintiff. The property was land in the New Territory and could not readily be turned into money. The money was a considerable sum. to the defendant who would be put to serious inconvenience if he did not recover it. Plaintiff could have raised the money on a mortgage if she chose.
His Lordship-You admit plaintiff is en- titled to half P
Mr. S'ade- Oh, yes. division.
There must be a
His Lordship-Would it not be better that the property should be sold. Judgment for non-appearance will not help you. If the property is sold you will have the costs you are entitled to and the case can go on.
Mr. Slade-I am extremely unwilling to have the property sold.
Mr. Calthrop-Then why did you try to sell it P
Mr. Slade submitted that where an order had been made, both parties had appeared, and the order was unfulfilled that judgment had the effect of stopping the action; it would be a binding judgment. The defendant and his wit- nesses were very old men, in fact the defendant was very ill and would probably die in a fow days or so, while some of the material witnesses were in almost as serious a condition. It was imperative that the defendant's evidence should be taken at once. An application was made to have the defendant's evidence taken in January and the case was set down for January 11, but on the application of plaintiff was adjourned. Since then there had been other adjournments on the application of plaintiff, who, he contended, sought to delay the trial until defendant had died. The final order haring been made and not fulfilled Mr. Blade asked for judgment. His Lordship-I am afraid I can do nothing except give judgment dismissing the action.
IN BANKRUPTCY,
BEFORE Mr. A. G. WISE (POISNE JUDGE).
PUBLIC EXAMINATION.
Re Chan Sau-shek and Leung Wai-tong ex parte the debtors.
Mr. G. E. Wakeman, official receiver, con. ducted this exywinte
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Mr. F. B. L. Bowley (of Messrs. Dennys and Bowley) and Mr. P. W. Goldring (of Messrs. Brutton, Hett and Goldring) appeared for several creditors, while Mr. F. X. d'Almada e Castro watched the case on behalf of the debtors. Chan Sau-shek, sworn, said he was a partner in the Kwong Fak Luug firm of 98, Jervois Street. There were two partners in the business, which was commenced in 1871. They subscribed $2,000 each. The business done was in piece goods, and debtor and bis partner took an active part in the business. They both took part in the management until 1894, when they went to Canton owing to old age, and left the business in charge of a manager. When debtor's original partner died, Leung Wai-ting, his son, succeeded him. After he went to Canton, debtor came down at the end of each year to see about the business. He paid his manager $216 a year, and gave him a bonus when there was a profit made. The manager was allowed to draw money for his own use; and every year he overdrew a little over $100, his salary not being sufficient to support his family. The book produced was the one containing an account of his drawing. It showed that he had
Was
manager visited him at Canton and asked not paying last year, wheu the for more money, which he was supply. The manager told him the reason the unable to business was not paying was because he bought goods at a contract price, and then the price of the said goods fell. Debtor considered the advisability of winding up the business, and told the accountant to arrange matters with a solicitor. The meeting of creditors was held on the October 30th, when the creditors would not agree to give them time to pay. After that some of the creditors saw him at Canton and told him to come here at arrange matters. He arrived in Cctober and found Ave men in possession of his shop; they were placed there by creditors, and took possession of what money firm, and he believed handed the deposit note to was paid in. They banked $1,000 paid to his the acountant. His was chiefly a credit busi. ness, and he did a large business with people in Yunnau. Some of the firms there had not paid him.
man of the debtors.
wore shown the
By Mr. Bowley-The presnt manager was in his firm when it started, and he was a claus- Colony for some time, but was not afraid to come He had not been in the
back. Debtor's accountant knew more about the business than he did, as he was now only a dormant partner. His accountant called the first mesting of creditors. know that at that meeting the creditors He did not
manager's promissory nole for $5,600, and the manager did not pledge his share in the Sun Lung-tai shop at Amoy to secure that promissory note. Debtor had overdrawn his interest in the firm to the extent of $14,00 and his partner to the extent of $3,500, while the manager had overdrawn $5,6 0 and the sub-accountant 82.000. shop a the practice to give employees in a Chinese
"cumshaw year.
at the end of the
It was
If an employee overdraw a small Debtor, his partner and employees had over- sum it would be allowed him as a "cumshaw." drawn from the firm $28,600. That was not the reason why they were unable to meet their liabilities. In February, 1904, the shop took fire, and goods to the value of more than $10,000 were destroyed. He did not get any insurance his fokis a on them. Despite the loss by fire he made
cumshaw the end of the year; but this "
of over $9.000 at
1 cumshaw ex. tended over several terms of years. The firm made a loss the year before last; he could not remember how much money he drew that year, but it was not a very large sum.
(+
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Mr. Bowley-Well, here's your account. You drow 1,200 taels.
On perusing the account debtor admitted this.
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Continuing, debtor said that when he filed his statement of affairs he estimated his assets at $19,300. $1,300 cnly Lad been collected, but there were more outstanding debts. In his list of assets there was an amount of $15,000 out of jurisdiction. The people owing this amount were not insolvent. Debtor had a $5, 00 share in the San Wo Tai at Amoy. During the last few years he made about $2,000 profit out of it; but had already drawn this amount. D.btor was the master of the Tien Fuk hong at Canton, but that shop was destroy ad by fire in January or February of this year. The Tien Fuk Tong was now carrying on business, but debtor was not a partner. He had not a family house in Canton, having presented it to his son.
157
THE STATUE OF SIR THOMAS JACKSON.
HIS EXCELLENCY THE GOVERNOR UNVEILS
THE MEMORIAL.
On Feb. 24th H. E. the Governor unveiled which has been erected opposite the Hongkong the beautiful statue of Sir Thomas Jackson--
status is erected in commemoration of past and Shanghai Bank in Des Voeux Road. The services rendered to the Corporation by Sir Thomas Jackson, whose pioneer work placed the Bank in its present thriving position. There was a large gathering to witness the ceremony, aud His Excellency Major Sir Matthew Nathan arrived at the appointed time, accompanied by his A.D.C., Captain Arbuthnot Leslie. "Amongst others present were-Messrs. H. A. W. Slade, A. Haupt, Hon. Mr. C. W. Dickson, E. Goets, C. R. Lensmann, G. H. Medhurst, F. Salinger, Hon. Mr. R. Shewan, E. Shellim, N. A. Biebs (Directors), J. R. M. Smith (Chief Manager), Colonel Chater (of the Argyll and Sutherland Highlanders), formerly stationed in Hongkong, an old friend of Sir Thomas Jackson's who happened to be passing through the Colony), His Hon. Sir Francis Piggott, Sir C. Paul Chater, C.M.G, T. Arnold, G. Murray Bain, L. Berindoague,. J. W. Bolles, Hon. Mr. W. Chatham, J. A. Chinoy, T. P. Cochrane. 'T'. A. W. Brewin, G. de Champeaux, Hon. Mr. P. Christiani, W. A. Cruickshank, W.Danby, W. H. Gaskell, H. J. Gedge, A. Hancock, S.Hancock, F. A. Hazeland, E. A. Hewett, T. F. Hough, Humphreys, H. U. Jeffries, Dr G. P. Jordan, Hon. Dr. Ho Kai, H. Humphreys, W. G.
Law, B. Layton, A. R. Linton, W. Lysanght, J. A. Jupp, E. S. Kadoorie, J. T. Lauts, D. R.
J. R. Michael, A. S. Mihara, M. T. Minami, G. C. Moxon, Dr. J. W. Noble. J. Orange, E. E. W. Mitchell, H. N. Mody, A. G. Morris, Pabaney. H. Pinckney, G. W. F. Playfair, W. H. Potts, E. A. Ram, A. H. Rennie, Ě. W. Rutter, W. J. Saunders, M. W. lado, Hon. Mr. T. Sercombe Smith, Dr. Harston, Hon. Mr. Gershom Stewart, M. Stewart, A. G. Stokes, H. Suter, Hen. Mr. A. M.Thomson.C. H.Thompson, A. Turner, G. T. Veitch, J. Y. V. Vernon, J. Whittal, His Hon. Mr. A. G. Wise, A. G. Wood, H. P. White, F. B. Deacon, M. S.
C. Northcote, J. C. Peter, H. E. R. Hunter,
Capt. Tillett, N. M. H. Nemazee, H. W. W. May, N. A. Stabb, A. Forbes,
Fraser, Capt. Goddard, A. R. Lowe, C. H. Rogge, A. Rodger, W. H. Wickham, W. H. Purcell, J. J. Leiria, W. S. Jackson, . H. Michael, D. Forbes, H. Schroeter, 8. A. Levy, A. V. Apcar, J. Barton, C. E. Anton, R. R. Hynd, F. A Gomes, G. H. Piercy, T. Owen, W. H. Potts, A. Gubbay, C. H. Grace, Capt. W. E. Clarke, Ho Kom-fong, Lo Cheung-shui, F. J. V. Jorge, H. Jones Hughes, S. A. Joseph, C. E. H. Boavis, R. Mitchell, A. G. Gordon, D. E. Brown, C. D. Wilkinson, A. Shelton Hooper, and H. B. Heemskirk.
His Excellency was met by Mr. H. W. Slade and Mr. J R. M Smith, who supported him on the stage from which the ceremony was to be performed.
Mr. SLAE said:-Your Excellency and Gentlemen,-By way of introduction to the ceremony in which we are about to take part, I will briefly recapitulate the circumstances which have led up to it. Sir Thomas Jackson took over the Chief Managership of the Hongkong Bank in 1876 when its fortunes were not very flourishing, when indeed its circumstances were somewhat humble. He laid down the burden in 1902, leaving the Institution proudly and, sa we think, firmly established as the premier Bank in the Far East. He was always the first to claim that these results were in a large measure due to the splendid services rendered by the men who were associated with him in his life's work, but they, on the other hand,... have always been ready to attribute them to his The Chairman of the Shanghai Chamber of able leadership. A born leader he was --every- Commerce, writing to the Senior Consul one who has known him on his serious side regarding the appointments to the Conservancy knows that-but he was more than a leader. Board, states that the committee regard with There are leaders who command admiration by considerable apprehension the trend of events in connection with conservancy matters, and but
the brilliancy of their intellectual achievements, who otherwise fall to -command complains that the recout assumption of our respect. A successful banker must control by the Viceroy through his nominees have more than intellect. He must have signed in September last. would seem to be an ignoring of the Convention character. Character has more to do with
successful banking even than brilli
The case was adjourned.