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(114
ALLEGED FRAUD.
WING ON COMPANY AS VICTIMS.
A case that is likely to take a consider-
FEBRUARY – 10гm,
COMPANY REPORT. HONGKONG AND SHANGHẢI
BANKING CORPORATION, "
The one hundred and tenth report of.
able time in hearing and which is likely the Court of Directors reads as follows:
to prove of much intarest-a sum of $50,000 being involved--was mentioned at the Central Magistracy yesterday before Mr. R. E Lindsell
it
Three Chinese are charged with at tempting to defraud the Wing On Co. of $50,000 and interest. Further charges were added yesterday.
Gentlemen,-The Directors have now to submit to you a general statement of the taffairs of the Bank, and balance sheet for
the year ending 31st December, 1925.
The net profit for the year, including $3,350,508.94, balance brought forward from last account, after paying all charges, deducting interest paid and dae, and making provision for bad and doubt. ful accounts and contingencies, amourd to $15,846,979.01.
The Directors recommend the transfer of $800,000 from the profit and loss ne count to credit of the silver reserve, which will then stand at 897,000,000.
They also recommend writing off bank premises account the sum of $1,000,000
After making these transfers, deduct-
Six charges are now preferred against the defendants, viz.: (1). That between April 6th, and August 15th, 1923, they conspired together to defraud the Wing On Co. of the sum of $30,000 and $653 interest, by a false representation that the Company was indebted for that sum to a firm styled Kwong Cheong, and by the production of a forged deposit booking the interim dividend of £3 per share,
од 10th August. last (2) That they conspired together, with paid persons unknown, to forge a document £180,000 @ 2/3784,139,735.43, and re- purporting to be a deposit book issued munération to Directors, there remains by the Wing On Co. between March 9th, for appropriation $10,164,24258 out of and May 4th, 1921
which the Directors recommend the pay- (3) That between March 9th and Mayment of a final dividend of three pounds 4th, 103, they attempted to utter a forged sterling per share, vis, £480,000, and a document purporting to be a deposit bonus of two pounds, sterling per share, book, issued by the Wing On Co. know-riz, £320,000, amounting in ing it to be forged;
(4) That they made a further attempt between March 9th and August 13th, 1923. (5) That on August 18th, 1993, with other persons unknown, they conspired togelner to endeavour to cause to be paid to the Industrial and Commercial Bank the sum of $50,665.60,, by virtue of a forged deposit book, purporting to have been issued by the Wing On Co. know- ing it to be forged, and
(6) With intent to defraud the Wing On
Co.
eit. -
all to £500,000 which, at 2/43, the rate of the day, will absorb $6,766,519.82.
The balance $3,307,799.78 to be carried to new profit and loss account.
The sterling equivalents of the assets and liabilities are shown at 2/4, the rate ruling on the last day of the year.
Branches and Agencies:-Vladivostock Agency was closed on 30th September.
1985.
Directors:-Mr. D. G. M. Bernard has been elected Chairman for the year 1926, and the Hon. Mr. A. O. Long Deputy Chairman. Mr. B. D. F. Beith resigned his seat on leaving the Colony and Mr. D. G. M. Bernard was invited to join the Board. These appointments require confirmation at this meeting The Hon.
It was intimated that there were five other charges to be preferred, four against one defendant. The 5rst six charges are to be taken first and after wards the evidence in connection with the" further charges which are statutory, Mr. P. E. Holyoak. Mr. G. M. Young Mr. F. Jenkin appeared for the and Mr. T. G. Weall, retire in rotation. prosecution; Mr. G. K Hall Brutton- defended the second and third defen.but being eligible for re-election. "offer
Auditors:-The dants; and Mr. Leo d'Almada appeared themselves
accounts have been for the first defendant.
Mr. Jenkin. remarked that he thought audited by Mr. C. Bernard Brown. they had got hold of a portion of a gang..C.A., and Mr. John Fleming, CA. whose business it was to operate upon ho offer themselves for re-electica.
G. M. YOUNG, the banks. There were nine witnesses for the prosecution.
Hoogkong, 8th February, 1926.
Mr. Brutton said that the case arose i 1923, but it was not until the present year that it had been decided to com mence proceedings. He therefore thought he should be given time for his investiga- tions, as the other side had had so long to prepare theirs. He should know what sort of a case he had to answer then.
His Worship decided to adjourn the case for hearing until next Tuesday after
2000.
The question of bail was raised and considerable argument ensued between Mr. Lindsell and Mr. Brutton. Even tually Mr. Lindsell decided not to grant bail, and added he would keep another date open provisionally in the event of the defence not being prepared to go on With the case when it came up next Tuesday.
ATTACK ON POLICE. MOB LEADER SENTENCED TO
IMPRISONMENT.
Two ricksba coolies appeared before Mr. E. W. Hamilton at the Kowloon Magistracy yesterday, the first with being the ringleader of the mob which attacked the Police in Canton Road, Kowloon, and the second, who was wounded at the time, with being con. cerned in the attack
Inspector Andrews, who was in charge of the police party attacked, related the details of the affair, and said there was a general rush on the police in which 13 prisoners were released Bricks, bottles and wooden stools were used as missiles." His party of Chinese detectives drew their revolvers and fired into the air. Previous to the firing witness was struck with a brick, and later was twice struck in the legs. People in the tea-shops near by took part in the affray, and after the prisoners had been released the mob con- tinued their attack on the police. Wit- ness did not see second prisoner in the mob, but the man was struck with a glancing bullet. He identified first pri- soner as leading the attack
Chairman.
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1926
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CLOSING QUOTATIONS.
FEBRUARY STE, 1926 Hongkong Bank $1,050 ael.
Do., Loados.£127 nom. Chartered Bank 21 com Mercantile Bank, A. & B......229 nom..
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Modern Transport states that, som short time ago invitations were issued to all the principal railway rolling stock manufacturers in Great Britain, Canada, the United States, and on the Continent for alternative tenders for fifty or seventy all-steel self-discharging hopper coul waggons, each of 100,000l. (fifty tona) carrying capacity, and also for 100 cr, alternatively, 200, all-steel drop-sided Obins Underwriters. open bogie waggons, of 80,000lb. (forty North China Insurance tous capacity, required by the South Union Insurance..... African Railways. From among the large Yangtze Insurance ...... number of quotations submitt d from a Chins Fire Insurance parts of the world, the most favourable Hongkong Fire Lasurance....$620 nom.
C. & M. Steamboats...$23 sel. quality of manufacture, and speed of delivery, were those from British builders,
Indo-Chinas (Fred) and contracta have been placed with the Shell Transports Leeds Forge Co., Ltd., for the seventy Star Ferries.......... hopper coal waggons, and with the water boots............ Metropolitan Carriage, Waggon, and Oriental Navigations Finance Co., Ltd., Saltley Works, China Nagar... Birmingham, for 170 drop-sided open Malabon Sugars.
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In addition a contract for no fewer than Kailan Mining Ad.. 1,000 all-steel bogie covered waggons, of Langkats (combined)
Do. (angle) 60.000lb. (for tons) capacity, required for grain transport, and specially designed to Shanghai Explorations.. work in connection with elevators install-Shanghai Loans...... ed at up-country stations, and also at the Banbe ports of Cape Town and Durhan, has been equally divided between the Leeds Forge Co., Ltd., and the Metropolitan Carriage, Waggon and Finance Co., Ltd.
TRADE IN AMERICA.
A WAVE OF OPTIMISM
In one way or another, says a New York correspondent, American leaders are expressing the conviction that 1926 will be dedicated to the work of con- First prisoner denied that he was instructive peace and stability on a scale exceeding that of any previous year, and the crowd.
this idea partly explains the popular be- lief in the United States that the pros perity which the people have enjoyed here in recent years is securely based, and will be as nothing to the good times coming. In a word, the New Year finds America in a state of exalted optimism; warranted, according to economiste, by the state of business at home, and tnore particularly perhaps by the "new spirit' awakened abroad.
A Wei-hai-wei constable and two Chi- nese detectives identified the first man, but gave no evidence as to the second.
His Worship said there was not the alightest doubt in his mind that the first prisoner assaulted the police, and that this led to the release of prisoners What his reason for doing so was, beyond a turbulent spirit, he did not know. He was very lucky not to have been shot down. His Worship considered that the police showed the greatest restraint in not using their weapons when they were in a position of considerable danger. He thought they acted with very good sense. He could find no reason whatever for first prisoner's action in what was a most serious matter, assaulting the police in such a savage manner. He would sen tence him to six months' imprisonment with hard labour.
The second man was discharged.
ROUMANIAN VAGRANT. SMUGGLED TO HONGKONG IN COASTAL BOAT.
At the Central Magistracy yesterday, Trevor Carlyle Phillips, who described himself as a Roumanian, was charged with being in the Colony without vimble means of existence.
Accused said that he had been fot two years and a half in Shanghai, and had lost his position. He had been smuggled into Hongkong by the crew of a coastal vessel.
He was sent to the Ecuse of Detention.
P
EXCHANGE RATES:
[BRITISH WIRELESS SERVICE]
Paris New York.
Brussels
Genera
Berlin
12.13
Ural Caspians. Tronah Mines..... HK, & K. Wharis... H.K & W. Docks,
Hongkowice Now Engineerings. Shanghai Dockɔɔ Indos De
Do..
-[125
THREE SUITS FOR £2
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DERRINGTON.
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$36 baj. ...$185 buy.
30 sel.
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TEL CENTRAL 4484. (303 i
40 Bel
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Tis. 13 nom.
Tis. 5.48 nom. „Tia. 7 x. dir, nom.
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JUL. 27 mol. Amasemente Canton Ices Cements (combined)
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$10 bay, 11 sel (old)..... Do. (IAW). China Providentă................................ ...$74 sel. Constructions janin Dairy Farm T
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(181
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