470
when they carried on business. They also pur- chased two houses and continued to trade after becoming insolvent, and brought about the bankruptcy by rash speculation. In the Official Receiver's opinion it was impossible to grant their discharge.
Mr. Almada said that Cheung Kang-pat, although one of the debtors, was simply a dormant partner in the firm. If his Lordship would refer to the notes of this debtor's publiq examination he would see that the debtor never at any time took an active part in the firm's business. That would be corroborated by Wong Sau-po, the managing partner. Mr. Almada did not ask his Lordship to grant immediate discharge, but to suspend the order( for such time as he thought fit.
report of the he bad had Assuming that
THE HONGKONG WEEKLY PRESS AND
His Lordship The Court, I know. Is that the Registrar §
Mr. Harston-I take it that Court means Supreme Court. Previously I always made the application in chambers" before Sir William Goodman, but I understand the practice has been altered.
His Lordship-Mr. Wakeman, can you tell me anything about it P.
Mr. Wakeman-An interim receiving order is also made by the Registrar.
His Lordship-Can you show me any authority for it ?
Mr. Harston-I am bound to admit that two years ago it was not the practice. It is a con- venient practice.
1
His Fordship-Oh! yes. But supposing it is illegal or wrong.
Mr. Wakeman referred his Lordship to sub- section 2 of section 11.
His Lordship (after referring to it--That's all right.
Mr. Dixon said it was somewhat difficult for him to criticise the Official Receiver until an opportunity of seeing it. the facts stated in the report were correct, he submitted that his Lordship had
Cheuk Chak said he had made inquiries as to power to suspend the discharge of Wongwhat was due to the firm, and discovered that dau-po for a reasonable time, and asked bis Lordship to grant a discharge subject to a suspension for three months. The report showed that substantial assets had been recovered, and that the amount of liabilities might be reduced by the Hongkong and Shanghai Bank reducing their claim.
His Lordship-What is the claim of that bank f
Mr. Wakeman-Over half a million dollars. Mr. Dixon-My client is here, and is prepared to answer any questions. I understood the official receiver wished to question him.
Mr. Wakemao-I don't, my Lord. But I can ask him a few questions.
Mr. Harding said it was not denied that his client was a sleeping partner, and had nothing. to do with the management of the firm.
His Lordship-He has been a partner in dozens of firms.
Mr. Harding Yes, my Lord, but he took no active part in the firm.
Mr. Wakeman-If Mr. Dixon wishes to consider the report, I have no objection to an adjournment.
Mr. Dixon-Well, if your Lordship is not going to grant the discharge
His Lordship-I am certainly not going to grant the discharge. No consideration will make ne do that,
Mr. Dixon-I meant to say after a reasonable period.
His Lordship - What I consider a reasonable period. We will take Wong Sau-po first of all: in this case there is no doubt he is the managing partner, and certainly so far as I can understand from bis own admissions and from the examination, he was managing partner at the time of the bankruptcy. It was rather a large bankruptcy, and although the claim may be reduced it is perfectly clear from the evidence that 50 per cent. cannot be paid off. I will suspend his discharge for three years. With regard to the other two, maybe they were dormant partners or maybe they were not. The third man, Ma Fat-ting, is a partner in some of the biggest firms in the Colony--the Lai Hing included-and therefore he is business man and knows the liabilities he takes on. Both discharges will be suspended for two years.
A
Mr. Wakeman-Will your Lordship make any order with regard to the income of the debtors ?
His Lordship Is there income?
any Mr. Wakeman-I don't know, but one of them is living in a large house.
His Lordship-I will adjourn that point till Thursday; meanwhile your can find out.
RECEIVING order GRANTED. The Kwong Ying Loong firm ex parte Chouk Chak, debtor.
This was an application for a receiving order. Mr. J. 8. Harston (of Messrs. Ewens, Harston and Harding) appeared in support of the application.
His Lordship-I notice the Registrar has made an interim order. Is that so f
Mr. Harston-Yes.
His Lordship Now I want to know where you get the authority from? What is the section P
Mr. Harston-I think it was made under Section 11. (Beads, Where the Court may, etc.)
C
there was an amount of $3,070.62 due from Messrs. Arnhold, Karberg and Co. There was a further sum of $600, and in addition to that a sum of $718 would become due on Octo ber lat.
Kwong Cho-chit said the total liabilities of the firm were $18,600. ↑ The assets would realise over $7,000
His Lordship granted the order, and appoint. ed the Official Receiver trustee.
PUBLIC EXAMINATION,
Chau Dart-tong ex parte the creditors. Mr. G. H. Wakeman, Official Receiver, con. ducted this public examination, and Messrs. F. B Deacon (of Messrs. Deacon, Looker and Descon) and J. S. Harston (of Messrs. Ewens, Harston and Harding) appeared on behalf of creditors.
Chau Dart-tong said he was a partner in the firm of Dart Loong and Co., which business he started on October lat. 1899. His partner's name was Chi Yat. The capital of the firm was 850,00); they dealt in piece goods, yarn and miscellaneous goods. Debtor was interested in the Fat Cheong Bank, of 39, Bonham Strand East, to the amount of $10,000, which was one third of the capital. The bank was closed about March, as they could not realise further capital and there was no business. All debts, with the exception of the shareholders" were paid in full One of the partners had the books: Debtor could not say how much money the bank had He bad lost, as the accounts were not made up. a considerable amount of leasehold property, and owned Connaught House Hotel, for which ha gave $255,000 on September 1st, 1900. He now valued it at $420,000 or $410,000, because he formerly let it out of lease at the rate of $1,825 per month, and the man who leased it from debtor re-leased it to another and was getting $2,678 for it; that included the whole premises.
There were
House after filing his petition. Ho send a cash out of the jurisdiction of the Gon only to pay debts, when he thought of bankrupt. Debtor did not include in his statement of assets the property he had at Macao, as he had sold that property. transferred it. within a fortnight of filing his petition, handing it over to a woman to whom he owed $1,500.
Ho
Examined by Mr. Harston-When were you last solvent-How do I know ?
You don't know ?-I know that I'm not solvent now.
Were you solvent three years ago?--Yes How do you know ?-Because I had not made up my accounts.
Why did you tell the Official Receiver, at a meeting of creditors, that you were insolvent- three years ago?--I didn't understand the question. so shook my head and said yes.
You engaged during the war in blockade running?
His Lordship-He denied that to me just now. I think he must have run into Dalny:
Debtor-If you make inquiries and find that I have been so engaged, I am willing that my head should be chopped off. I don't even know the people who were engaged in it.
Have you ever heard of the Fuk Tai Wo firm -I don't know.
Supposing your name appears in their books ? I have transacted business with so many people,” how can I remember them ali ?
At anyrate you deny that you transacted business with the Fuk Tai Wo so far is block.... ade running is concerned, or anything else ?--- I have heard of the Fuk Tai Wo, and I may have had small dealings with them.
Now you shelter yourself, as you are afraid. Was your partner, Francisco Chi Yat, quite content with your management of the business.
He did not say anything to the contrary, t Didn't he start a partnership action last year get a receiver appointed and remove the whole thing from your control in the case of Dart Lee & Co. ?-It was à friendly action to wind up the business.
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At one time in these proceedings you refused to hand over the books to the receiver, didn't you?--No answer.
When I applied for the books you instructed your solicitor not to hand them over ?-1 did not know the mode of procedure, so left the matter in the hands of my solicitor,
His Lordship Have you any more books in your house ?—I have one book in a house, cà phênh
His LordshipWhen the examination is over I shall get the bailiff to go to your house, and if you don't deliver over everything he will report to me and you will be brought up to morrow for contempt. Do you understand ?
Debtor-Yes.
CANTON.
(FROM OUR CORRESPONDENT.)
His Lordship adjourned the case sing die and ordered the bailiff to accompany debtor to the house where the books were said to be, and morgages on the property.search for them. Debtor was further ordered Debtor had other property at Caine Road, and to supply the Official Receiver with further a share in some property at Bonham Strand. particulars. All these properties were heavily mortgaged. During the last few years he had received several hundred thousand dollars on mortgages. He had no account, bat remembered it all, “A¶ managing partner of Dart Loong and Co., he received $50 a month for a start," ! and when the firm wound up he was receiving $40, really $450, but he gave $50 a month to bis foki.
Ng Ah-loi, a notorious pirate for whose This $450 a month was to be entered in a separate account, and to be paid off from debts capture, dead or alive, a big reward has been go. collected. In the beginning he used to paying a-begging for some time, has at last been off the interest on the debts from his salary, but when the debts amounted to tens and hundreds of thousands he was unable to.
His Lordship Did you ever do business with Port Arthur?
Debtor-No.
His Lordship You did some business, I know; there was a long case in the Court asting three days. Not during the war?
Debtor-No.
June 23rd.
ANOTHER PIRATE CAUGHT AT MACAO.
caught in Macao, by Capt Leoing of the Chinese Army. He will be extradited to Canton shortly, to stand his (probably very summary) trial
A FIGHT WITH ROBBERS. Last night an exciting bout with was witnessed in Honam, just at the 20 of Messrs Butterfield and Swire's godowns. An armed gang were carrying away their loot which comprised several head of cattle, Examined by Mr. Deacon-He was the only the alarm was given by the beating of gongs one interested in Connaught House. He and the neighbours and “bravos“ turn returned in his statement to the Official Receiver A fierce fight ensued and a surplus of assets over liabilities of $33,000. were exchanged. One robber He would not be sure that his assets would several wounded. No arrests
Debtor calculated - the | so far. It is believed that realise that amount. increase in the value of Connaught House organised one and that it from the rent collected on the premises. He i which has been terrorising "did not collect a month's rent from Connaught 'suburbs during the last few mont
out
killed, and
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