Page
THE BANK LOAN CASE. MR. JENKIN'S CASE FOR THE
DEFENCE.
BANK MANAGER'S EVIDENCE CONTRARY TO COUNSEL'S CASE
The case in which Messrs, Moxon & Taylor are suing the Man Chuen Bank for the recovery of 7,000 alleged to have been lent to the bank through Mesars. G. P. & H. A. Lammert, was continued before the Chief Justice, Sir Henry Gollan, in the Supreme Court yesterday,
Mr. Eldon Potter, K.C. (instructed by Messrs. Johnson, Stokes & Master), appeared for Messrs. Moxon & Taylor, and the defendant bank was represcated by Mr. F. C. Jenkin (instructed by
Messrs. Lee & Rusa).
Chan Wing Fook, Messrs. Lammert's authorised clerk, was recalled and further questioned by Mr. Jenkin, with reference to interviews which had taken place be tween him and Mr. Tsang, the manager of the defendant, bank
THE
His next point, he said, was the margin demand of September 7th. This ignored the contents of the other document, and it made it quite clear that Mossrs. Mosch Taylor were regarding the contract as with Lammerts alone, and Lammerts were dealing with the Man Chuan Bank in as entirely different way. It would at least be expected that the contracts between Moxon & Taylor and Lammerts, and Lam. merts and the Man Chuen Bank to bo I was rather similar, but it was not so. significant that when Messrs. Moxon Taylor wrote to Lamunerts complaining of the carry over in Jaly that the complaint was founded only on the Enancial in- stability of the firm. There was no com plaint that Lammerts had not the right to do what they did, but that they had done something which their authority as agents did not allow them to do
Teen
HONGKONG DAILY
11
TOURIST SHIPS.
PRESS, WEDNESDAY, MARCH 17TH, 1926
THE "LACONIA" DUE TO-DAY. Before the Resolute leaves Hongkong this evening to resume her cruise, there will be another invasion of tourists, the Cunard around-the-world liner, Laconia being dus at 7 o'clock this morning with 600 passengers on board.
4
OIL.
ATTEMPT TO STEAL AN INCIDENT AT THE A.P.C. INSTALLATION.
At the Central Magistracy yesterday' in which a Chinese employee of the afternoon, before Mr. Lindsell, the crac Asiatic Petroleum Company is charged stend six tons of crude oil from the North with being concerned in an attempt to Point installation of the Asiatic Petroleum Company, again came up for hearing.
The Laconia, left New York on Jan-
Mr. D. Turner, for the prosecution, uary 20th, and has called at Havans,
tants at the installation ran down by the side of the pier. There were various Colon, Balboa, Los Angeles, Hilo, Hono-explained that the pipe line from the vil tula, Yokohama, Kobe and Shanghai.
She W16 not originally due until people on duty during the night, and Saturday next, but the reason that she the first intimation that" anything was is coming in three days ahead of her wrong came when the electric light on trouble in the North, the Peking visit scheduled tims is because owing to the water front failed. has been cut of the itinerary.
The Lacania will remain in Hongkong until Saturday evening, when she will resume her oruise, making for Manila and then to Batavia, Singapore, Run goon, Calcutta, Colombo, Bombay, Suez, Port Said, Haifa, Athens, Naples and Monaco, terminating at Cherbourg on May 22nd..
2
At about 1.45 a.m. on the morning of March 2nd one of the watchmen saw someone on the pier, and almost at the Mr. Birkett's. proof on October 2nd in two
se time a watchman at another post. the Bankruptcy file, claimed over
also saw the man. A watchman went to lakhs, as monies due to bin. from Messrs.
control wheel which was in respect
the end of the pier and arrested him, Laumert, a part
it was found that of this very transaction. The fact, was
was fixed on the pipe, line, and that an- other pipe was connected up to a small boat. Two other men wero also seen to that Mr. Birkett knew that Lammerts' liquidation was one which would not re- turn 100 per cent, and he would not have. into Lammerts bunkruptcy if he had
The Hongkong Hotel are making all go down to the water and another award able to secure recourse against a local arrangements for the Laemia's away or crawled under the pier and got Mr. W. B. Lightburn, the manager of perfectly solvent firm like the Man Chuen tourists, who during their stay in port wway.
will carry out the usual trips to the
the the installation, gave evidence that on New Territories, Macao, around
March 1st he received telephone Bank.
M. Birkett had also written to Mr. Ross, giving $28,000 as his valuation of Island and to the Peak, etc.
Following the Laconia, another Cunard message saying that a ship would ba Mr. Jenkin: 1 put it to you. Mr. Chan, the shares, and the only reason for that that Mr. Tsang and that if the bank could be to give Mr. Ross the opporta-around-the-world liner with 400 tourists, bunkered on the following day. He gave haul to repay Lammert's "loan, then anity of redeeming the shares, and then the 8.3. Franconia, is due to arrive here instructions for a certain lighter to have Moxon & Taylor could get the balance of either on Monday evening or Tuesday steam up between 3 and 10 the next arrangement would have to be made for $19.000 through Lammerts' bankruptcy morning, and not on Sunday, as she morning. Defendant was the pumpman the payment of Lammert's debt to the It was inconceivable that Mr. Poss at was originally scheduled to do. She will and fireman on that particular lighter that time, or else he was wholly mis remain in Hongkong until Saturday. The lighter was alongside the bunkering Man Chuen Bank, and that if such a guided, -knew the true position, and that arch 9th, when the will sail for berth, and witness stated that he knew - arrangement was made the. whole thing in collecting the whole of this money it Shanghai, Yokohama, Honolulu, Hil, no reason why the man should be on Francisco. San Pedro, Balboa, the jetty in the small hours of the Toorn- would be settled once and for all-1 wis going to Messrs. Moxon & Taylor, San
and that he was not clairing that money Christobal and Havana, thence to Newing. He had no duties there.
At about seven o'clock on March 1st Mr. Ross York. Messrs. Thos, Cook & Sons are cannot remember.
latek for Lannnerts' estate. had incurred costs in the attempts to
tourists here. who will carry out, alights would not function, and witness collect the money from the Bank, and making the local arrangements for the watchman reported to witness that the he would not have done so, had he been similar programme to all other around looker at the fuse and it appeared to be all right. In consequence of the light aware that the lammett estate would not the world tourists.
failure witness told the watchman to keep a specially keen lookout during the get a rent out of the transaction:
night.
If Mt. Tsang goes into the witness-box and says that he did have such a con- versation with you. are you prepared to say that it is false I am not prepared to ay it is false; lät I cannot remember,
Witness, however, denied that the liabilities of the estate.
Tsang raised the question of Lanimert's eross-debt, at the interview in Lanumert's olhee on October 6th.
THE DEFENCE."
His Lordship: Unless he was lessening,
Mr. Jenkin: He had no right to do so. and the only thing he could do was ou
what of the estate.
His Lordship: There was a suggestion made by Mr. Birkets in his evidence, that he asked Mr. Ross to act as his agent. and was willing to pay his expenses.
Mr. Jenkin: would have been very glad to have heard 31r. Ross on that pointy
BANK MANAGER'S EVIDENCE.
He found & hand
Continuing, witnesa said that he had
At about two o'clock in the morning a watchman came to his house, and wit- had many transactions with Lammerts, and at all times they were satisfactoryness went down to the compound. Ho so that he accepted Chan's word, when found three watchman there with a man He made an inspection of he said that his debt to Lammerts and in custody. their debt to him would be set off against the premises with in electric torch and anch other. Even on November 6th he went to the jetty. had a right to sell the shares, but did not wheel on the main valve of No. 1 pipe do so because Lammerts again pointed line, and a plate, bolted to the end of out to him that they would lose if he the valve had been removed. A length carried out the,sale
ef hose had been connected to the pipe line with clamps, and led on to the edge of the jetty and was fastened to a canvas shoot. At the edge of the jetty there was a Chinese water boat with tanks, which had a pump on board. He
1.
A BEWILDERING CHANGE. Cross-examined by Mr. Elden Potter. witness said that he was only a novice in the business of the Stock Exchange, but he agreed that his transactions had some
times reached a couple of lakhs.
Mr. Potter: What would you call this transaction, a loan or sale - consider
to be sal
could see that there was a quantity of oil in the boat, and left a watchman onl duty there.
Mr. Torner said that although it was not, part of the case for the prosecution, he thought an incident which occurred daring the night tended to show that there had been a general conspiracy. Several watchmen were on duty, and during the night they noticed several sampans coming towards the boat which contained the oil. I understand they made an attempt to recover the boat and
Outlining his case for the delence, Mr. Jenkin' referred to the events of June 5th and 6th when the negotiations for the loan were being put through, and said
Mr. Tsang Chun Son, the manager of that at no time during those days did the bank came in contact with Messrs. Moxon the Man Chuen Bank, was the first wi A Taylor, nor was the bank aware that ness for the defence. He stated in evi the money was being borrowed front them.dence that on June 6th he had some In fact, the bank had in view Lammert's shares in the longkong & Shanghai Bank, but he had overdrawn his account debt to them, which was in excess of the there and gave a delivery order to Lam- merts for some of the shares. The money qiaoust they were borrowing. This cross-
When your learned Counsel says that dicht, was not then due, but when it did which he borrowed from Lammerts was payable at the July Settlement. He could become due on July 8th, the question not pay the money, and he asked Chan it is a juan, then you disagree with him? was raised of setting off the debts, the Wing Fook to set it off by the money-It was a sale and purchase.
which Lammerts owed the Man Chuch Then why were you not charged broker on against the other...
Bark. A discussion followed and it was age on this sale -They never asked me Messrs. Lammert filed a petition for evcutually agreed that the money was to for brokerage.
be paid at the rate of 8180 per share on Do you know that you yourself have bankruptcy on September 9th and receiving order was made on the 12th. the September Settlement. No reference already sworn that this was a loan At
that a watchman fired a shot at them," Sithsequent interviews took place in the whatever had been made to Messrs. the beginning Char. Wing Fook said that Maxon & Taylor at the July. Settlement.
Mr. Potter: 1 have heard of change of he added. Oficial Receiver's Office, and at each of At the meeting at the Official Receiver's Lammerts had money to lend me.
Mr. Lightburn, giving further evidence these Lammers's indebtedness to the Office he told the Oficial Receiver that he case, but never such a change as this,
could not pay the money owing to the laughter). Tsang, would any sane suid that when he made another exami bank was mentioned. It was then that financial crisis, and told him that Lam- man sell shares at 8154 to-day, and buy eation of the boat he found it contained the case took on an entirely new aspect.
merts owed money to the Man Chuen them back at *19) ix months later 7-1 six tons of oil. When lighters were not It was then that the plaintiffs came on Bank. The Oficial Receiver told him that would do it (Laughter By the sale of being leaded at the installation, the hand- the scene, when their solicitors, Mcaars, he would have to take delivery of the 200 shares I could get ready money to do wheels controlling the pipe line supply were kept in his office, and he had been Johnson, Stekes & Master, wrote to the
You would only enter into such a tran- unable to account for the disappearance Man Chuen Bank, demanding payment to shares, hut witness told him that he h blessrs. Moxon & Taylor. This was the money to do so. He then turned to
An Indian police guard said, that when frat intimation to the bank, that it had Chan Wing Fook saying: What about saction if you needed the money -Ina of one from his oEce. been dealing with 3icssrs. Moxon & Taylor the money you owe us? and Chan said: bank's hasiness, I would always like to
"You need not fret about that: you will have some money in hand, and I hoped the lights failed the manager ordered him
Nothing she shares would rise.
to find the clectrician but he could not in the matter of the lean, and that the have it when the time comes.
Then your learned Counsel is right do so. money had been netually borrowed from
was said at the interview with referance
It was explained that the electrician when be says that it was a loan 1-Per- to Messrs. Mexan & Taylon them.
hapis it is; I don't know. (Laughter.) did not live near the spot, and there was was not in nead of money on June 5th,
do with the case. and it was immaterial whether I had itu suggestion that he had anything to Continuing, witness said that a Chinese Are you aware that you paid 14 per came up to him about ten o'clock and cent. when you had it -At the time I was said that some oil was to be stolen. optimistic about the shares rising.
But you sold them you say It was Witness disbelieved it, and went to bed. the thye of the Silk-Cocoon market in Later, however, he thought that there Canton and I had to bare money for that, might be some truth in the story, and he because a great deal of money was to be got up and went to the jetty. He saw never asked Chan a ship out at sea fash a light towards made out of it. But
from a lighter. He also saw a junk' come for a fan of money on the 6th because the share, and the signal was answered Take your affirmation, in which you close in, and noticed a man.ge off by one Witness went to the pipe line and found state that you instructed Chan by tele- of the lighters. phone on June 8th to secure a loan for yout-Yes, I made this affirmation, but defendant sitting there. He arrested the other mar jump down from the jetty, and perhaps when it was explained to me, I man, and blew his whistle. He now and did not pay much attention to it
Witness agreed that he had asked a heard him splash into the water. An-
other man jumped off the junk,
COUNSEL SURPRISED.
They (excepting the Officini Receiver)
then went to Lammert's office.
business.
or not.
There Mr. Jenkin then said that he consider. cl that a very marked change of front Chan Wing Fook told him that Lammerts had taken place in the presentation of would lose a lot of money if a further plaintiff's case, this being that Lammerts extension would have to be given to him Mr. Launnert then cal- were acting as the bank's "agents in the for repayment. matter. He had never come across a caseculated the interest, and when he did so, in that shape er forra, and it bad greatly witness objected that it was too high. surprised him. He submitted that it was Thereupon Mr. Lammert, gave him a inconceivable from the simple case which paper, which stated that the interest was had been argued and set out both in Mr. 81,504. Then Chan Wing Fook told him Ross's affidavit and in the letter to Messrs. that the note which had been made out Johnson, Stokes & Master, that the point in July was in his (witness's) name, and
he requested that be would sign, a note I had $20,000 in hand. at issue should have been wholly mis- apprehended by a man of Mr. Ross's to the effect that the money was owing by standing and experience. He (Mr. Jen the Man Chuen Bank. Chan then told kin) submitted to His Lordship that this bini that $30,000 was owing and that it change of front was deliberate and wholly would be settled on November 6th. The inconsistent with the case as set out in cross-debt of Lammert was again mention- those documents, and that a change of ed at, this interview and Chan said that front did, in fact, take place. Mr. Jenkin on November 6th the money would be suggested that the change was dishonest.
His Lordship remarked that there was no need to make that change of front in order to defeat a defence of set-off; since plaintiffs already had the bank's defence before them. He saw no reason for any "dishonest" change after the defendant's pleadings had been put in, nor could he see any reason for the suggestion that the change was dishonest.
ན་
set off. Witness took away the letter friend of his to lend him $2,000 on June
It was stated that the pipe delivered which Mr. Lammert had written, and 6th. He then stated that he had-author-
that in the boat could have been run in returned with it next day, having up-ized Chan Wing Fook to sell 200 shares 300 tons of oil an hour, and consequently
for him. pended his signature to it.
At this stage the case was adjourned in five minutes. until to-day.
His Lordship remarked that it seemed quite natural to him that when Lammerts asked for the money, that Tsang should. ask for the money which was owing to the bank.
to Mr. Jenkin, witress said Replying Mr. Jenkin said that the only reason that under a certain document Lammerts which he could see, was, that plaintiffs owed him $13,000, and he had the right had ascertained the peril of getting to sell at any date after, March 24th if through their case if the set-off were Lammerts did not pay up. He did not raised. He submitted that there was sell then, because the shares had depre nothing to show that the loan was between ciated in value, but any difference in the the bank and Messrs. Moxon & Taylor, price would have to be paid him by Lam- All the circumstances as evidenced by the meris. Ife agreed that if he had sold documents pointed to the fact that not them they would be worth $11,200, but until November 8th did Messrs. Moxon there would still be a little difference, and & Taylor take up the position of prin- it would not be enough for what he need- ed. Lammerta told him that if he sold cipala
the shares, then they would lose a great deal.
Mr. Jenkin then refurred to the. July Settlement arrangement, when documents
Questioned in regard to the letter of passed between Messrs. Moxon & Taylor and Lammerta on the one hand, and October 6th by which he agreed to pay Lammeris and the Man Chuen Bank on 920.000 to Lammerts' special manager in the other. Nobody verted in Stock Ex-a month's time, and why there was change matters looking at these docu- nothing in it with reference to Lammerts' ments would ever imagine that there was cross debt, he said that Chan Wing Fook the slightest connection between Messrs had asked him to put the name of the Moxon & Taylor and the Man Chuen bank on the document. The fact that Bank; the documents precluded anyone no reference was made to Lammerts' debt from even thinking that there was any was because Chan had said that he need auch connection. It was true that be only sign his flame to the document, and tween the two contracts there was chly when the tiras came, the money owed to half a dollar per share difference, but it hini by Lammert would be set off against was quite clear that there were two epit. tirely different arrangements.
(Continued on next column.)
The case was adjourned until to-day.
TO THE LADIES.
The Stewards of the Juckey Club have decided that Ladies can no longer be admitted free to the Race Course ut Meetings.-LOCAL PRESS REPORT.].
E'er since the Races were begun, E'er since that first recorded date When, most correctly, Beauty won The Ladies' Purse in 748,
The Ladies, bless their hearts, have been The chief adorament of the scene.
The Stewards requested.-so 'twas phrased, The pleasure of their company,
And would of old have been amazed
At any mention of a fee.
The Ladies by an act of grace Came down to see their men-folk race.
But now the age of chivalry. Is disappearing all two fast: Such courtesies appear to be Capfined entirely to the past. Now, Ladies, if you'd keep the date;. You'll pay your money at the gate!
But do not therefore strike the names Of these poor men from off your list Thinking there lurks within their frames The soul of a misogynist.
They love you, Ladies, as before, But oh they love your money mare..
E.-W. E.
PIPES
FOR DISCRIMINATING SMOKERS.
OF
SPECIAL REDUCTION
12% OFF LIST PRICES.
BBB SINGLE
""
·COMPANION CASES.
SUPER BARRAGE.
N
ULTONIA.
DUNHILL'S SHELL BRIAR.
BRUYERE.
ORLICK BRIARS.
PETERSON COMPANION CASES.
LANE, CRAWFORD, LTD.
GROUND FLOOR."
It is essential for the future prosperity of trade in Hongkong and South China, that there should be increased co-operation between Foreign and Chinese business firms.
THE HONGKONG EVENING POST. THE ONLY CHINESE EVENING PAPER,
is the best field for enterprising Foreign Firms who wish to make their goods known amongst Chinese Firms of the highest standing,
お
All information regarding Advertisements from--- THE ADVERTISING and PUBLICITY BUREAU,
Alexandra Buildings.
Tel. C. 80.
--- A.P.B.
ENGLISH RECORDS
FOR CHILDREN.
THE INKWELL
FAIRY
{PART 1.—BOBBIE, JOAN, AND THE FAIRY
2-THE MAGIC PEN
[3038
(PART 3.—THE JOURNEY TO JUNGLE TOWN
3802
8803
27
4.-THE JUNGLE TOWN JAZZ BAND (PART 5.-THE FAIRY TOYMAN
3804-
6-IN TOYLAND
"
AT
ANDERSON'S..
178
W POWELL, LTD.
WM.
Telephone C. 4578.
BEAUTIFUL
CARPETS & RUGS
eng and Prices will appeal to you, and we
invite your inspection.