THE
HONGKONG DAILY PRESS
THURSDAY, AUGUST
1771, 1922
THORNYCROFT
AND CO., LTD.
SHIPBUILDERS AND ENGINEERS
London, Southàn.pton and Basingstoke.
PASSENGER AND CARGO VESSELS OF ALL TYPES UP TO 6,000 TONE. OCEAN-GOING TUGS. MOTOR BOATS (SEA OR RIVER) UP TO 50 KNOTS.
TURBINES AND RECIPROCATING MACHINERY AND PROPELLERS. MARINE AND STATIONARY OIL ENGINES 8 TO 90 BHF. MOTOR VEHICLES 2 TO 6 TONS.
WATER-TUBE BOILERS.
FOR QUOTATION, APPLI
10, KIUKIANG ROAD,
GOLF HOSE
A
SEATTLES TRADE WITH THE HOW BROKERS SPEND THEIR
ORIENT.
ENTERTAINING EVIDENCE IN EXCHANGE CONTRACT
ACTION.
"QUESTION OF A MANAGER'S
AFTHORITY.
The Publicity Department of the Seattle Chamber of Commerce in a recent circular furnishes the following information:
Seattle and Puget Sound ports are rapid ly approaching their former commercial position when the Washington Customs district, during the war was second only
An interesting action concerning ex- to New York in foreign commerce.
change contracts and the relations between Seattle' commerce for the calendar year
mercantile houses, banky and brokers was begun, yesterday, before the Puisne of 1922 will be over the half billion dollarJudge (Mr. J. R. Wood). -
mark.
Exports to the Orient during the first
The plaintiffs were the Bank of Canton, six months of 10es were equal to those of Lid, and the defendants the British the previous year, while importa from the Chinese Trading Company, Orient registered a gain of 35 per cent. For the rst aix months of 1999 Seattle's
TRÈS NECESSITS FOR BEDREKA. Mr. Jenkin It indicates the necessity Lol the brokera otherwise, “members' of
firma would spend the day chasing frons) bank to bank finding out what the rata was. During your 10 years' experience you have put through thousands of con- trnets
Mr. Sassoon Decidedly."
POSSIBILITIES OF TAMPERING WITH DOCUMENTS COUNSEL'S ENSEM INTERPOSITION Before the Court rose for the day Mr. Jenkin asked the Judge to make a note with regard to a book in which exchange contracts were passed, handed in by th defendant's solicitors during the day
Is it an essential part of the practice also asked the Judge to examine a par that you should see the trip of the ticular exchange contract
usinesa -Either the fain, or the man
note. The Judge made the required note and
in charge of a department-import or ex-asked why Mr. Jenkin wished him port,
Assume a one-man firm with a manger, examine the contract note, would you have any hesitation in seeing Mr. Jenkin: I do not want to be the manager-He would be the natural compelled to state that it is obvious the man to see,
note was Bover stuck in the hook it power of attorney No power of attorney
The statement of claim set out that by The Judge: You would not demandould require n'mero careful examination import and export trade amounted to a contract dated April 7th, 1920, the is necessary. The banks, knowing the before I would say that. But I want you $910,000,000 as compared with $115,000,000 defendants sold and agreed to deliver to arms, all these people are regarded as con- to look at the tata of the paper wit for the same period of 1931:
the plaintiffs. G.$275,000, delivery in petent to attend to the business.
There are people who are beads of of the book. Shoud the state of that April/May, 1950, at exchange 981 60d/departments but have no authority to paper at any time change it will be pur- The defendants had failed to deliver the sign for the firm generally deal with poselvar, and only lead to, endless troubles
HEATTLE IMPORTS FROM ORIENT.
1922
1921. . $18,470,650 $ 4,801,000 15,938,9432,173,000
MOSTE.
January
SHANGHAI:
February
March
April May
Totals
Derb knit Stocking that has no superior for shapliness and hard wear resistance. Extra weight in new shades of Green, Brown, Fawn, Camel and Khaki
FROM $4,50 PER PAIR.
Heavier weights in all colours from 36.00.
MACKINTOSH
& CO., LTD.
MEN'S WEAR SPECIALISTS.
Alexandrs Building.
POMAGNE
BLP. BULMER & CA
HEREFORD. BOAR
Tel: 3549.
Des Voeux Road-
TRY THIS.
A REAL SUMMER DRINK.
CRITERION RESTAURANT
RECIPE.
1 large Bottle of Hulmers Cider, 1 smalt Soda, shy mixed Fresh Fruit, 3 slices of Leon, Cherries, 1 large Brandy and plenty of Ice
Ask our Agents for a free Copy of our Booklet, "The Golden Wine of England," which gives 19 different recipes for Cider Cup.
H. P. BULMER & Co., Ltd.,
HEREFORD.
AGENTS:
A Car for every occasion !
CARTERS,
1. Chater Road,
HONGKONG.
If you are in need of a Car and live in Hongkong. Call at 24, Des Veur Road or Phone 482 or 3352.
If you live across the water call at 26, Nathan Road
or ring K. 226.
A DRAGON MOTOR
CAR
will promptly be at your Service.
There are 5 and 7 Passenger TOURING CARS
the following makes, #MARMON! HUDSON SUPER SIX"
CHANDLER"
ESSEX" and "DODGE," and in addition, 6. Passenger SEDANST
Every Passenger in a' DRAGON ” CAR is insured against accident.
Dragon_Motor
Car Co., Ltd.,
HONGKONG AND KOWLOON.
or
G+8971,000 and therefore the plaintiffs/people who have power to act-to buy for me to say so then.. I don't say. 11,089,667 0,161,18
claimed- $59,820.86, representing the dis rell Sassoon also said that banks will change. 19,183,336 17,660,199 crepancy between the contract and the issued confirmation notes each month, but 15,913,084 | 11,504,539
that, within the last nine or ten months, market price on May 31st, 1920, les brokers, for their own security, had made 15,490,178 -11,454,717
certain sens due to the defendants on it a practice to send, every day, confr 389,302,848 · $38,830,198 other contracts for the purchase of goldmation notes to the banks and the com-
mercial house concerned. That
BESTILE EXPORTS TO ORIENT.
MONTH
January
February
102 * 1921. $3,469,343 $ 4,313,028)
3,150,323 2,093,777
March
3,029,064 9,086,184 April
2,030,205 2,704,778 May... 1,503,315 1,343,331 June
1,732,066 2,563,164
$15,213,600 $16,591,775
Totals
In the last 15 months 105,000 bales of raw silk valued at more than $100,000,000 have been discharged over one pier alone
at Seattle.
Cargo space is already booked for large timbers, essecially for long Japanese squares, in all steamers scheduled to leave Seattle for the Orient in October and early September.
of passengers using the North Pacific route were destined to China, 40 per cent to Japan and 5 per cent to Manila..
dollars
The defence was a denial that the con tracts had at any time been authorised by the defendants. The defendants main tained that the plaintiffs well knew that
was not in existence in April, 100
Mr. Potter (cross-examining) A con siderable volume of business is done with the banks direct-I think some business is done direct. Bry
A substantial amount 2-May be, I don't want to be little the brokers, but
Mr. Potter. I should like my friend to say, quite frankly, in ease the other. side tamper with it."
Mr.Jenkin Hy trient has said it for me and I am much obliged. He put in in better language than my, own
Mr. Potter: I always like to say right out, honestly, what I have in mind.
Mr. Jenkin I am not going to Inanchi
no one was authorised to enter into con considerable business is done apart from any charge until I have had an opportu iracts on the defendants' behalf, unless them, I suggest. When you got an ordernity of looking at the book.. such contracts were signed by or chopped to fix an exchange contract I suppose, be Mr. Alabaster explained why the book
fore you execute it, you have be satis
Mr. Jenkin was lodging a formal plaint on that score
come
with the private chop of Chin Tin Cho fed in your own find that the person had not been handed in before and the Chinese Trading Co., and that the con-experience has been with people of the trading under the style of the British is authorised to give the order -all my Judge said he did not understand that. tracts in question were not so signed or fence I have had an occasion to doubt the laipan type During all my experi chopped.
man who gave me the order. Sassoon I happen to be 50.
You are one of the lucky brokers, Mr
In reply to the defence, the plaintiffs said that the defendants allowed if to
Mr. Jenkin said that tampering with documents undoubtedly did take place. and it was a great satisfaction to know its first state. Mr. Jenkin also asked to that the Judge had seen the document in
all about the person's authority you would If you, as a broker, had any doubt at be careful how you dealt with him I be allowed to take the book away for -
examination, undertaking that it woul
presume so. -
If a strictly limited authority were not be out of his custody. The applien brought to your notice you would be tion was granted and the Court, then cautions how you accepted an order from rose. a person with that limited authority ?--I would.
Mr. Sassoon slso opined that a bank, deal with such a manager on an having received such a notice, would not contract.
exchange
Mr. Potter: Was this recent practice
CELESTING DOWN" THE BROKERA.
BRITISH TRADE WINNING THROUGH
a represented that one J. M. Xavier, manager of the firm, had authority to The early grain movement of the Pacific Northwest has so far this season been effect exchange contracts on behalf of the to the Far East instead of Europe. Last firm and the exchange contracts can year Japanese bought between 200,000 and cerned in the action were made on the 300,000 tons of grain from the farmers of faith of this representation, the Pacific Northwest and this year their Purchases will far exceed that amount. The plaintiffs farther urged that, by This condition is probably largely due to the usage of the Hongkong Exchange the grain famine of Manchuria.
Market, exchange contracts are effected Japan is buying steadily of wheat out by and through exchange brokers by whom of this gateway Camen wheat tonnage only such transactions are signed on be
OHIEF WHIP'S OPTIMISM. ia firmed at.$4.00 but steamship companies half of both parties. J. M. Xavier, con-of sending daily confirmation notes Bay Do space will be booked for late tended the plaintifs, was authorised to started because brokers found they were Whip, addressing gathering of Welsht:
Mr. A. McCurdy, the Chief Liberal! September shipment at that figura as the effect the exchange contracts concerned in being let down, on contracts -Yes; Liberals at Cardiff last month, said that tendency is towards $5.00 the action in accordance with this usage they were caught two or three times for the first time since the Armistice cna For the twelve year period ending June Alternativply the defendants permitted There was a mistake and they had to pay could see a real improvement. Evidence. 20th, 1929, a total 1628 passengers, him to be held out as having authority the penalty who originated in duited States, de to do so.
pointed to the fact that we were replacing parted from Nori Pacific ports for
One of the ways he might be led down" capital wasted by the war, and that at last Mr. F. C. Jokin (instructed by Mr. was by a person giving an order without we were really paying our way. Bide by Japan, China and Mamla. Of this oum-10. A. Hooper, of Messrs. Johnson Stokes authority Yes, ber 56 per cent, went from Seattle, and Master) appeared for the plaintiffs Mr. Jenkin (re-examining): If a firm values which had contrred during the last side with the great appreciation of capital Fifty-five per cent of the total number and Mr. C. G. Alabaster with Mr. Eldon allowed a man to put an exchange consix months there had been the reduction Potter (instructed by Mr. W. B. Hind, tract through and it was not repudiated, of the income-tax, and he hoped these facte of Messrs. G. K. Hall Brutton & Co.) would you continue to do business with would lead some of them to refect that, for the defendants. A
Phim in Opening the plaintiff's case, Mr. Jenkin authority spite of a letter restricting his whatever one beard, or other sities, migh explained that the British Chinese Trad- ng. Co. was formed early in 1918, the sole man, was allowed to act would outweight capital hands as those of Sir Robert The witness thought the fact that the country in which the Budget was in such Bay, there were advantages in living in a proprietor being Mr. Chin Tin Cho. On the letter. He had never known a broker Horne.Financial confidence was being August 1st, he engaged Mr. J. M. Xavier caught by reason of acting on the rapidly restored. British trade war wil na manager for two years under an instructions of a man who had noning through, the cost of living wag agreement which provided, inter abs that falling, and the unemploymen in the absence of Mr. Chin Tin Cho (whe
The Judge: He could not be, because figures were growing less. It all meant was habitually, away from the office) con- the broker is not liable under the prac V. Sellapan, late clerk in the PC.M.O.'s for and on his behalf but must be chopped vious statement was that they were not of retrenchment and 'economy-which their trets might be signed by J. M. Xavier tice of their busincas Mr. Sasson's pre- that far as concerned the great policy office, at Singapore was sentenced to with the private chops of Mr. Chin liable.
eritics preached and which the Govern÷ twelve months impriso ment for criminal Tin Che. Mr. Chin Tin Cho left the run Mr. Jenkin Whether he is right or Practised, they were making good the breach of trust in respect of certain ning almost entirely to Xavier. Exchange not is arguable (to the witress) Is it stage of war monies entrusted to him in his capacity brokers would be called to say that they part of your buiness to protect the bank as a public servant.
had never seen Mr. Chin Tin Cho and from disreputable customers? Accused pleaded guilty to the three that all contracts put through on behalf Mr. Sassoon: The banks know more charges, preferred against him and the of the firm were put through on the in-than we do. Hon. Mr. Everitt, who defended the structions of Mr. Xavier. It seemned, Mr. accused, made an eloquent appeal on Jenkin said that where the contract behalf of his client At the ousrt Mr. showed a profit Mr. Chin Tin Cho accept. Everitt referred to the excellent record it and when it showed a loss he raised the accused had in the Government service the point of want of authority. up to a certain date. Counsel then re- CUSTOMS OF LOCAL BROKERS. ferred to the accused's fall, and the method alleged to have been adopted by Mr. M. S. Saascon, was called as acaior clerk and himself in the defalca witness for the Bank, to state the local
SINGAPORE PUBLIC SERVANT'S DEFALCATIONS. SENTENCE OF TWELVE MONTHS. IMPRISONMENT.
Mr. Potter: Besides, Mr. Sassoon has no got any disreputable customers.
In reply to the Judge, Mr. Sassoon ex pressed the opinion that a bank would be negligent if it did cot communicate direct with a customer after receiving letters like two of those which formed exhibits
the persent action.
CARRYING OUT THE
tions which like: a snowball accumulated practice with regard to exchange contract Kr. D. I Cooper SDI WA
next witness,
at the end to the large sum of $30,000. Mr. Everitt said the accused had done 21 years of service under Government, and referred to the fact that he was suffering from Bright's disease, was in deutete the their time: How is your day generally Mr. Jenkins How to brokers spend spm of $6,000 to chutties, had
with two or three children, and bad best tempelled in Are you sent for by firms, or ed by a senior official so that he was Me, Sassoon: May I explain
do you tall upon them t rather different position regards Mr. Jonkin: Please do punishment to that of an ordinary mer cantile clerk Although a criminal benil the brokers meet at the Hongkong My Sassoon Every morning, at 9.30, was not the principal criminal at the and Shanghai Bank Mr. Cooper said he never did business time he was tempted, and once having got into the mess it accumulated like a snow the Association ?ato com
The Judge They are all members of ball
transactions. He said the contract notes said he had been a member of the were signed by the broker, and never by Brokers Association for 11 years. He the Bank or the principal of the firm entering on the contract.
n
Mr. Bassoon replied in the affirmative and added that there were also Chinese brokers, who were not members
Mr Jenkin: How many members are there?
Dame Lloyd George also briefly address. moved, and which wha, unanimously a ed the meeting, and a motion which she claimed emphasised the view that the Socialistic propaganda of the extremist both employers and employed. section of Labour was a grave menace-te
IRON FORGING AHEAD: RECORD MONTH'S EXPORTS TO AMERICA
Trade continues to expand steadily in
had put through several exchange con- all parts of Great Britain, and the iron tracts for the defendant firm and either and steel industry affords the Intest as manager, Mr. Xavier. The June shipments of pig-iron from dealt with Mr. Baptista or his successor illustration of the general revival
Mr. Alabaster cross-examining, pat it Middlesbrough amounted to 44,89 foury to the witness that one manager had left compared with 49,100 tons in May, and the the firm and the other had not taken over, exports to the United States 16,025 tons, when one of the contracts was made, so against 8,900 in May were larger than one else.
There are also signs of a distinct im that it must have been made with some the total for any whole year since 1010:
provement in the home iron and steel trade, and there has been a large increase in the All kinds of steel are in greater demand, total amount changing hands during the past two month
he had mentioned, never with the pro there with any person other than those prietor
Mr. Alabaster Who told you Mr. Xavier was in charge?
Mr. Cooper: He was sitting in the chair Mr. Baptista had occupied
Seeing him in the same chair, you as
KRYPTOK LENSES
Majoz Whitley, D.P.P., spoke briefly, and then His Honour, delivering judg ment, said that he did not consider that the accused having been tempted was a strong reason for any mitigation of Mr. Sassoon: Eighteen, but several punishment, especially as accused was not are absent. A few minutes after 0.30 sumed he had authority to commit the a young man. He would, however, take the Chief Manager of the Babe Brm 1-Ye into consideration the fact that the accus brings out list of quotations of the Was the chair labellede, but he was forms of bifocal lenses. The bifocal seg are conceded to be one of the very best ed was a family man, bai had long ser- various foreign exchanges, which is posted doing Mr. Baptista's work meat is ground and fused into the distant vice with the Government and had lost on the wall. The brokers copy the quota You make a contract between a bank ent not only his reputation but his position to bank; there are 13 or 14 banks. SomeIt is not my business to inquire as to piese of gises. The segments are totally
tions, and make their rounds from Lak and a Grm without making any inquiriest lens making the prod and pension as well. At the same time times their quotations vary from the list standing that is the business of the
product practically one the crime was is very serious one and the supplied by the Manager of the Hong bank. It is not a matter on which any total sum of money involved very large kong and Shanghai Bank. Afterwards the one would answer my questions.
Invigile and the lens has beautiful He thoug
therefore, that the least brokers go to the merchants to give them The Judge: It is for the bank to in eription in
apper
Kryptol lenses of any pres punishment he could inflict on the accused information of the state of the market quite into the standing of the firm; Mr. Was 12 months imprisonment on each If merchant want to buy or sell, they Sassoon said that, too. charge to run concurrently.
give orders to the brokers. The brokers Mr. Alabaster: Mr. Chin will say all again go to the banks and wait for now those siz last contracts were arranged from Shanghai, because Shanghal domina hefteen you and himself? That is not The police have arrested of N. Mamatates the Hongkong market, Sometimes true, at all Chief Clerk of the F.C.M.O.'s office, why the morning list is changed because 17. Jenkin naked that the defendant is charged with the falsification of ac Shanghat is firm or weak, On the issue might stand where the witness could co counts in the P.CLO's office between of a fresh list, brokers go through the him and Mr. Cooper, repeated his desiicl August, 1918, and January, 1919. Bail kama routine from bank to bank and to that he had ever done bune with the was allowed in the sum of 840.000,
the merchants,
defendant personally
ANOTHER CLERE CHAROED.
form
Opticians
ng the wght