SUPREME
COURT.
Thursday, May 1st.
IN ORIGINAL JURISDICTION.
SIR WM. RECS DAVIES, K.C.)
ACTION AGAINST THE HONGKONG AND BHANGHAI BANE.
did was to put up soins 862,000 in cash, but there were some mortgages by other people,
THE HONGKONG DAILY PRESS, FEIDAY, MAY 2ND 1913.
THE CHINA LOAN.
the
AN INTERESTING INCIDENT.
Ilis Lordship-To the Bank?
Last Thursday, when it seemed as if Mr. Jenkin--Yes, my Lord, as security another impasse had been reached in the Chou HEYE THE CHIEF JUSTICE (HIS HONOUR for the compradore's conduct and so forth Loan negotiation at Peking, he
Continuing, Counsel said that in June, from the capital. A telegram stated 1910, it because necessary for certain that "Ho is currently believed reasons for Lau Pan Chiu to give further to have hesitated to continue Becurity in addition to the $62,000 in cash. negotiations because of numerous warn He mortgaged to the Bank certain loncengs which have been sout to him to the hold properties in the Colony, Inland effect that the signing of the loan will be equivalent to signing his own death Then in November of warrant. Lots 655 and 956. the same year the compradore executed a second mortgage on some property to the prent plaintiff, Lan E Sun, and the consideration for that mortgage was tear-of-$21,000 About the 28th Septem-
E
An action was commenced by Lau Sam, a trader, of Des Voeux Road Central. against the Hongkong and The Shanghai Banking Corporation. plaintiff claims:
(a) That the indenture of a charge and snortgage, dated the 28th of June, 1010, made between one Lau Tun Chin, in the first part, Young Li Shi, Yoong Tso Yuug, and
ولا
SIR JOHN JORDAN.
FURTHER PERIOD OF OFFICE.
THE WHEELER CASE IN JAPAN.
FURTHER EXAMINATION OF ACCUSED.
Much gratification is expressed in Peking, says the NC. Daily News. correspondent, at the receipt of the news that Sir John Jordan's time in China is In continuation of the report published to be extended by two years from October. yesterday, we take from the Japan Ad- This is the second extension of time vertiser the following report of the fur- given to Sir John Jordan, and will bring ther examination of the accused by the the total period of big servico in Peking Court up to nine years, a longer period than that of any British Minister since Sir Thomas Wade.
The highest compliment that the is to invite him to continue his occupancy Foreign Offer can pay to any diplomatist of an important and difficult post, and the Home Goverment is only reflecting the opinion of the British community in
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Chor Ma Shi in the second part, and the ber, 1912, the conipradore sheconded from incident in the following. Messago, daved China when it arranges to employ a days when we had no yarn at all defendants in the third part, and registored the Colony, and he was then in default | Legations minimised the importance of publie servant like Sir John Jordan su
in the Land Office by Mamorini No. 48067; whereby ecrtain leasehold property known and registered in the Land Office as Inland Lots Nos. 655 and 050, was assigned to the de- fendants by way of mortgage for securing the due fulfilment by the said Lau Pun Chiu as compradore to the defendants, and by his staff, of his and their several duties, obliga. tions, and responsibilities to the said defendrats under an agreement of the 12th March, 106, and for securing the payment
to the extent of about $100,000 to the Bank Dedueting from the defalcations the 202,000 cash security which the Bank held, he still owed, roughly, 890,000, Upon this happening, the Bank sold the property mortgaged to them, and got a little under $25,000 as the proceeds of the Then the second mortgagee, the sate.
long beyond the allotted period.
to the defendants of all sums of money which Present plaintiff, hearing of this sale,the matter, which was then arranged as following comment on the telegram:-The who was any good who had yarn suitable!
the dofendants might lawfully claim to be due to them by the said Lau Pun Chin in respect of and arising out of or under the Meral dutice, matters, and things: con- the defendants in so far as it purports to tained in the said agreement, in ultra cires erente for such purposes the mortgage of and charge on the said leasehold property.
(4)-A declaration that any and unch and every sale and assignment or agreement for sale and assignment of the said Inland
Lots of uns sections or portions thereof, the subject matter of the said indenture of the 28th of June, 1910, by the defendants in prstence of any powers contained in the said indenture is ultra vires the defendants
and is void.
(c) ~ An injunction restenining the defend ants and/or their agents from exercising any powers granted in respect of the said Inland Lats to the defendants by the said indexture, and restraining any sale and assignment or agreement for sale and assignment of the said Infamil Lots or nay part thereof, and in particular from completing any contract of sale and assignment already entered into, (d)Alternatively, a declaration that the. said indenture of the 28th of June, 1910, between the said Ian Pur Chin and the defendants, stands for security only for such obligations or sums of money (if any) of of owing by the said Tan Pan Chiu as were actually bona-fide due from the said Lau Par Chiu to the defendants prior to the date of the indenture of the mortgage of the 28th June, 1910, or in the alternative at the date of the indenture of the mortgage of the 2nd November, 1910, or at the date of notice thereof, had or knowledge thereof obtained by the defendants.
A declaration that the defendents are not empowered by the said indenture of the 28th June, 1910, to charge the property, the liject matter of such indenture with any payments (by cash credit of accounts, or otherwise) made or intended to be made the defendants by way of re-imbursement to sny persons from whom the said Tau Pun Chin may at any time have accepted monies for deposit with the defendants, and which monies the said Lau Pur Chiu failed to deposit.
He went to Tientsin, but in compliance with the desire of thie Cabinet, the Minis try of Communications at nine o'clock in the evening despatched a special train to Tientsia to bring him back to Peking,
Reuter's correspondent explains the Friday Inst:: "It is now plain that the yesterday's so-called misunderstanding, The Russian Legation, supported by the French, apparently desired an under- taking that the engagement of advisers of the audit department should be for a Chou Hsueh-hsi period of Afty pears. strongly objected, and evidently consider ing that the negotiations had again reached an impasse proceeded to Tientsin. The British Legation earnestly took up commenced these proceedings. By agree-stated in my telegram of yesterday's date. ment between the parties the Bank was The Chinese state and the Legations con- now holding these proceeds pending his firm that the remored of the deadlock was The Bank did not principally due to Sir John Jordau's able Lordship's decision.
diplomacy and firm attituds. Sir John Jordan, however, disclaims all credit. Lu Cheng-hsiang communicated the loan con- contract to the Ministers of the Quintuple Group, who then instructed the bankers bankers accordingly; whereupon informed Yuan Shih-kai that they were ready to sign the contract. President Yuan Shih-kai then telegraphed to Chou Hsieh hsi to come to Peking by a specin! in the evening by the bankers and Chao Ping-chun, Lu Cheong-hsiung and Chou Hsuch-hs. But, it is reported that the latter has already booked his passage to Tsingtao; apparently he did so before learning that the cause of the deadlock had been removed, Both the Chinese Government and the bankers, however, confidently expect him to return, though it is understood that he submitted his
signation before leaving Puking
in fact know of the second mortgagee until after the defalcations and the absconding of the former mortgagee, but it knew of it now.
In answer to his Lordship. Mr. Sharp explained that the second mortgages was aware of the first, but the first was not.
aware of the second.
I
the
INTIMATIONS
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Have you had no occasion to delay the. transfer of the yarn to the workers? The only diffculty 1 had was this--When I had the yarn in my possession my fast as I possibly could, but at certain workers had it, and I got the yarn 35 times it was impossible to get hold of we must have had twenty thousand pounds yarn suitable for our machine. I think altogether There may have been a couple because it was not delivered, but I did nos, delay them. It was to my Interest Sir John and Lay Jordan leave for to get as much work done as I possibly Where did you get the supply of yarn? Hons on a short furlough early in June. could. Foreign Office and Councillor of Legation-From Tokyo and some from England. Mr. B. F. Alston, Senior Clerk in the
Was it your original idea to get your at Peking in 1912, who will act in his
original idea was to get yarn from Siberia. absence, has already left for Peking risapply of yarn from Tokyo-Woll, my Osaka, but I found that I could not get it from there, and then I had to come up The best that quality of ingredients Our Shanghai contemporary makes the to Tokyo, and the only man I could find
for my machine was Sugimura.
and age
combined with experience British community in Shanghai and
Was it not more profitable to import throughout Chinn wilt cordially parti- cipate in the satisfaction expressed in yarn from England than to get the supply Peking over the retention of Sir John from Tokyo-With duty, freight and and skill can produce.
insurance it was far preferable for mo Jordan's services for another two years.
of shifting round to obtain the yarn on the spot than to The practice
The yarn Sugimura supplied to you Ambassadors from capital to capital has have it come ten thousand miles. disadvantages on well as advantages, and the former are peculiarly liable to be felt was originally imported from England; if in the case of such a city as Peking. No so it would be more profitable for you to import it directYou say he bought from other centre in the world presents so many
England; he did not tell me so. He said individual characteristics, for which, as with the study of the Chinese language, he was a spinner and he gave me to under there is no adequate preliminary training stand that he spun the yarn and that accounts for a great dent. Now you tell without saying that Sir John Jordan is
factures: That accounts for my having well versed in these, after his long service; such small lots of yarn. We had to send while in the matter of hard, unflagging orders to Eugland. If I had known about work, he has no superior in China, But this I should not have dealt with him. I there is an additional reason for his wanted to buy in the cheapest market. retention. The Chinese, in common with It is understood that you had both im- most people, are noro susceptible to ported yarn from England and from personality of the right kind than to Sugimura? Which yarn did you and the political principles, and Sir John Jordan cheapest --Well, English yarn would be is unfailingly popular with the officials about Is. 2d, por pound. When the duty of this nation. At the present time British and everything else was paid on it there diplomacy has a difficult path to follow was perhaps a differenes-under & perny in China. It is, as always, inspired by a pound, and it paid me far better to get. sincere feelings of friendship towards my stuff where I could see it and know China, and it is precisely that which what it was than to sand home to England compels it at times to do the ur popular and have something I did not want sent thing. No man, it may safely be said, out to me. is better fitted to execute a mission of this kind in the most tactful way than Sir John Jordan, and none more than the Chinese will feel that the compliment paid him by the Foreign Offier is well deserved.
tr, Jenkin said the plaintiff Look thanse train. If he comes, the loan will be signed to be hed in any other country. It goes me he is only a merchant and not a manu.
proceedings on three grounds-Firstly. that the taking of the mortgage by the Bank and the sale under the mortgage was ultra rires in regard to the Ordin- anco incorporating the defendant Bank.
His Lordship--What Ordinance? Mr. Jenkin-No. 2 of 1866, my Lord. The second ground is that the defendant Bank is not entitled to charge the pro-
perty with any defalcations occurring after notice of the second mortgage to the plaintif. The third point is that the defendants are under no liability to refund certain monies taken by the com- pradore or his staff, and that therefore they can not debit the proceeds of the sale with those monies. That is the essence of the action, my Lord.
.
Mr. Jenkin, then brought up the point of the position of parties, and observed that the compradore absconded from the Colony in September of last year.
CUNARD'S £1,271,422 PROFIT.
The Cunard Steamship Company's report for last year shows that, including £86,270 brought forward the profit A repair and amourted to £1,271, 429. renewal fund has been opened, with a credit of £300,000 from last year's profits. allowing for this allocation, and after debiting income-tax and debeature in terest and reserving £500,352 for deprecia tion, there is at the credit of the profit and loss account a sum of £351,070 Of this £100,000 has been transferred to reserve and £49.254 to the insurance account. The directors recommend. h dividend of 10 per cent. on the ordinary shares, leaving £38,964 to be carried for- ward. The report adds that the special expenditure arising from last year's coal strike cost the company over £44,000, and the company has expended £96,360 in supplying extra lifebelts and other fe saving appliances to the vessels of the written off.
BURMA CHINA RAILWAY QUESTION
The question of a railway from Burma
to China, which has been raised cuce more by the Liverpool and Manchester Chun- bers of Commerce, who are preparing to. take this matter up with the Secretary of State, came before the Burraa Chamber
-Enquiry as to the obligations (if any compradore to lessen his liability, should feet. The whole of this amount has been of Commerce at their fast meeting The
and the seas of money (if any) which the defendents may lawfully claim to be dae ia them from the said Lau Pan Chin and in respect of what obligations or duties, and that extent in respect of each obligation ar debt, the property, the subject matter of tindumturo of the 28th June, 1910, is or is sought to be charged or the proceeds ni the me of such property are or are sought
to be debited.
(4)--An enquiry whether the defendants, as mortgagees under de soid indenture, have heen in pessiosion of rents and profits of the said Luland Lots (55 wad Cali,
(An account in pursuance of such enquiry of the rents and profits rereived, cr which, without wilful default, right have teen received by the defendants as mort gages in possession of such Inland Lots., (An account of the proceeds of any nle or sales received, or which, without iful default, might have been received by the defendants as mortgages in the sale of the said Inland Lots or any part thereof.
()--An injunction restraining the defend- ants from making payments out of the proceeds of the sale of the said Inland Tats by way of re-imbursement to any person in respect of the matters referred to in the pagraph (e) hereof.
()-Payment to the plaintiff of the pro- ereds of the sale of the said properties or of such part thereof as may be found not chargeable under the said indruture of the 28th June, 1910, to the extent of the full amount now due to the plaintiff for principal and intgrest due under the sail indenture of the 2nd November, 1910.
--Further and other relief..
(m)Costs.
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Mr. Sharp submitted that he should be joined as a party, The statement of claim asked the Court to declare the mortgage between the absent compradore and the Bank void, and to direct that the proceeds of the sale of this mortgaged property which were at present being used, or was intended to be used, for the benefit of the be handed over to the plaintiff. In a case of this character it was essential that the
RELIGION AND POLITICS. mortgagor should be made a party. His presence was necessary to effectively and
We had half suspected that the "Inter- completely adjudicate upon and settle the questions involved. Stops could be taken national Reform Louguer," the Rev. His only E. W. Thwing, who runs the Government if he could not be found. position would be as defendant, and it of China on the Opium Question, was the could scarcely be conceived that he would wish to be joined as plaintiff. He took real inspirer of the Day of Prayer it he would object to the setting aside of proposal or at least had a great deal to do with it We think this impression is Me Jenkin Supposing he was joined confirmed by the following letter in the this mortgage. as defendant; we should be unable to Chimu Republican serve him.
Bir. Sharpe-By substituted service, The Bank does not know where he is, and to takely to know, for he is not likely
reveal his whereabouts to the but I daresay there are large numbers of people in Hongkong who know.
▪,་
on to
When your headquarters supplied you with yarn, would it be with yare you would not want-Well, headquarters did supply me with yarn and sometimes it was stuff I did not want it was not suitable
for the machine.
It is difficult to understand that head-
H. RUTTONJEE & SON,
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quarters which is ongaged in selling ZEISS
machines should supply you with yarn
131
PRISM
which is not suitable -They were using BINOCULARS
another style of wachine in England and
different one again Calcutta.
AT HOME PRICES:
(new model).
.£10.10.0 £10,10.0
£9.5.0
>
£6.10.0
(large field)..
£7.10.0
6
£6.0.0
Tho
6
(small model)
£5.18.0
3
£5.8.0
To bo Obtained from
Chs. J. Gaupp & Co.,
11 beadquarters in England supplied you with yarn they ought to know the sort of yarn suitable for the machine. 16 Power Did your headquarters simply deal with yarn regardless of the type of machine 12 Certainly not. In India headquarters
They i 12
8 supply the yarn and everything. tiis. I told headquarters I would are supplying in Chins at the present
Do you know that on yarn imported chairman explained that he had gone into supply myscif hero on the spot. this question and found that there were three possible railway routes from Burma to Japan through the bonded warehouse to China. The first of these was a liner custom house you can get rebate of the
customs duty on re-exportation? from Bhamo to Tengyuch, a distance of
yarn you import can be used duty free? 120 miles. This line might conceivably You.
Then it would be more advantageous to pay a small return on capital outlay, but its ultimate extension to Talitu was use foreign yarn -No I don't think so. not hopeful because the country beyond It is just like this in a nutshell. If they Tengynel was extremely difficult, and send out yarn from England they would there was no particular trade to be send out diferent qualities. My idea was tapped. The second possible route was to have big lots in stock of one kind of. the Northern Shan States Raliway from
Mr. de Becker said there was some nus- St.-I can understand how some might Mandalay past Mayniyo and see political motives if they did not know Lashio.. This was not a promising line, take with regard to the question the judge the facts, as sorse Press reports said that and there were those who felt that it had put. The Judge har stated that if When it went out President Yuan Shih-kai sent out the call ahould never have been built at all. The the yarn was imported there was no duty for prayer. This is not so, as he did not third possibility of a railway connecting as it came in bond. know of it at first. A mistake has beón Burma with China was to be found in the again in the form of stockings you were made in suggesting that this Union Southern Shan States line from Thuzi to entitled to a rebate on it.
better to have brought the yarn in from Mr. Jenkin My friend suggests you Service of prayer for the nation was Taunggyi, which might be extended even-Would it not have paid the accused an effect substituted service where the proposed by President Yuan Shih-kai for tually into China rin Keugtung This home rather than buy it here with the duty person's whereabouts are absolutely un- political ends to gain the support of line deserved close attention as it would and have no rebate on it -I quite follow If it is imported from known. There must be some means ofj foreigners. The fact is that it was pass through a rich country of rolling what they say. bringing the service to his notice,
His Lordship-It certainly has been suggested by Mr. Lu, a Christian member plains possessing a soil capable of pro- England I pay duty ad valorem. Thon of the Cabinet, who first spoke to me of during crops of almost any description, the stuff is manufactured out of it and I done,
Mr. Jenkin said he would trouble his the idea and said that he would like to Moreover, this route probably afforded send it back to England and claim rebate quiet way for perial United proper for would possibly merit construction sooner see the long and the short of it is we Ladship to intimate the course of action, have the Christians of Peking mest in the easiest alignment into Chine and on it. Well that is quite right, but you 31 his Lordship found that they ought to the nation. He believed that God could or later, but the present unsettled state of have seut nothing back to England. We be joined with the mortgagor, he thought
England but I cannot tell you, because they should adjourn to enable them to help China at this time of unrest and China, particularly on the Burma from have not had time to send it back. There Plaintiff's rights could not be change. The Chinese pastors took the tier, rather forced railway proposals inte are two men who might have sent it back join.
matter up and appointed April 13th as a the background at the moment. was merely an
special day of prayer. They also sent a
you put ine out of sight. Whether they defeated, because it adjournment.
His Lordship-It is common knowledge notice to the President of the aceting.
got rebate or not I cannot tell you; I was The Judge Can you tell the number and sent a delegate to attend the service.
pounds that it is necessary for this case to heHe then replied expressing his approval
away from the office.
of yarn you bought, from It was afterwards proposed to bold
Sugimura-No I can't without reference decided now.
probability from fifteen thousand to fully support any approved scheme that twenty thousand pounds weight, but I ani may be adopted for the purpose of not going to tie myself down. The books direction,
tion of parties should be discussed later.
It was revolved that the Liverpool Chamber be informed that the Committer Journal of the London Chamber of Com of the Burma Chamber have read in the more of the interest the Liverpool Chamber is taking in the matter of a
of
Mr. F. C. Jenkin (instructed by Mr. C. E. H. Boavis, of Messrs. Wilkinson not to agree with that. Re (Mr. Sharp would have to consult with the Cabinet. furthering railway connection in that will show you how much was bought..
SHARE QUOTATIONS FROM LONDON,
Mind I am not going to answer that because I have no-books to go by. If you let me have the books I can tell you to n. pound. I can't carry all theso weights in my head.
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Mr Starp suggested that the Case another special day of prayer, throughout should be argued now and that the ques the whole nation. The Government was railway from Burma to Chine, and will to the books, but I should say in all STUDY He thought his friend would be unwise asked to aid by sending the telegrams free of charge. Mr. Lu said to me that he was perfectly entitled to take up & Grist) appeared for the plaintiff, and stronger position than this. The defend. He did so and secured their approval and Mr. H. E. Sharp, K.C., and Mr. M. W. ants had stated their position, which they sent out the call for prayer from the had stated that day, and he contended Peking Churches. He also offered to send Blade, K.C. (instructed by Mr. H. J.
was the correct position. They said that special telegrams to the same places to send Liedge, of Messrs. Johnson, Stokes, & the view they put before them that the asking the Chinese officials Master) represented the defendam Bank.compradore should be joined was the right representatives to attend the moeting. Mr. F. C. Jenkin, detailing the salient view. The plaintiff had processded at his There has been no political significance own risk without doing so, and they had in the plan, bas only an earnest, sincere fauts of the action, said that the plaintiff no right to ask for an adjournment. It desire on the part of some of the Christ and the defendants were respectively was explained originally that defendants leaders in the Government to have united Arst and second mortgagees of the same considered that the compradore was a prayer to Almighty God for protection The defendant Bank, requir-necessary party, and he thought it was and guidance to China at this time of property, ing the services of a compradore, engaged not up to his friend to ask for an ad need. Mr. Lu also said, after the meeting journment. He was quite prepared to for the nation had been arranged, that one Lan Pun Chit in March, 1006, and meet his friend without prejudice in any he would like the Christians of other this question-that was to say lands to also join in prayer for China an agreement of the 12th March, 1906, was way o entered into between the defendant Bank he would have the some privileges as he on April 27th Let not this true desire for divine help and better things for had now.
China be misjudged. I am, etc.,
E. V. THWING, and the compradote Lau Pun Chiu. that agreement the compradore had to
Peking, April 21st. put up, either himself or through other
ACCIDENT TO VLADIVOSTOCK people, certain security for the proper
Mr. Sharp-That is so, my Lord.
EXPRESS. Ultimately his Lordship decided that carrying out of the duties of himself and his staff, and for making good any de the point, in the general interests of the At that judgment should be deferred for further falcations which might occur.
argument, there being no prejudice to time-March, 1906 he believed he was either party in the point being deferred. right in saying that all the compradore
In
Mr. Jenkin-That is quite fair. His Lordship-If I decide in defend- unt's favour the question does not then arise?
The case was adjourned.
BERLIN, April 24th. The express from Moscow to Vladivostock is stated to have been derailed to-day at Fachenowo. Nine passengers are injured. -Osturiatischer Lloyd:
When you bought yarn from Sugiura you hought sometimes eight hundred, Why Mesurs Vernon & Smyth furnish us sometimes one thousand pounds,
did you bay yarn in such small quantities? with the following quotations received by simply because he had not got big lets to sell me. That was the only reason." It was very mainly I could get a lot of ona theasand pounds weight. What gave me cable from London yesterday :-
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Did you order from Sugimura lots acounting to many thousands of pounds at one time--No. I think the biggest quantity I ordered was in the first week of January this year, and I ordered as far as I can tell you three thousand The accused added in pounds weight. reply to further questions that be could not always get the kind of yarn he (Continued on pogė 5.)
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