6
A few suggestions: Silk Ties and Handkerchiefs,
singly or in sets Silk and Krithed Fraps and Scarf Dressing Gowns
Bath Gone Slippers
I
Socks and Golf Food Braces
Gifts
**that live longer than a day'
ΤΗ
THE pleasant custom - of gift making at Christmas provides an admirable means of expressing one's friendly wishes in durable from, though one sometimes finds" it a little difficult to hit upon exactly the right choice for the masculine portion of your list.
Your problem, however, will be much simplified if you make your selection at Mackintosh's for there you can see the very articles which men would choose for themselves.
To choose wisely is to enhance the satisfaction you derive from giving. It will be a pleasure to show you our Christmas selections, and to offer assistance in making such a choice.
THE HONG KONG DAILY PRESS, TUESDAY, DECEMBER 24, 1929.
Mackintosh's
A visit to us entails no obligation whatsoever.
Gifts
À. S. WATSON & CO., LTD. have a fascinating selection of suitable gifts for every member of the family.
PERFUMES VANITY COMBS
HAIR DRUSHES
(Ladies and Military)
GLASS TOILET SETS
"CHOCOLATES
BRIDGE CABINET:
PERFUME SPRAYS "EVERYTHING FOR THE
SMOKER
(including fascinating novellies)
WRITING SETS IN ATTRACTIVE COLOURS. MOTOR CAR CUSHIONS IN FANCY
CHROME LEATHER, Etc., Etc.
Do Not Delay
Call To-day
A. S. WATSON & Co., LTD,
WEBSTER TELLS US THAT THE TURKEY IS A GALLINACEOUS FOWL. BUT THAT'S NOT THE TURKEY'S FAULT.
COMMONSENSE SHOULD TELL YOU THAT THE DAIRY FARM IS THE BEST PLACE TO GET A PRIME BIRD.
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WEIGHTS TO SUIT EVERYONE.
OTHER GOOD CHEER-GEESE, DUCKS, CAPONS, CHICKENS,SUCKING PIGS, PRIME CÚTS, MEATS, GAME, MEAT AND PORK PIES, SAUS- AGES, STUFFINGS, FARM FED PORK AND VEAL
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BOOK YOUR ORDER EARLY.
CASE AGAINST MR. BREWER.
THE OFFICIAL RECEIVER'S INVESTIGATION OF BOOKS.
SEVERE CRITICISM OF THE BALANCE-
SHEET.
The Official Receiver (Mr.” E. L. Agassiz) was one, gỉ the wit- nesses called by the prosecution at the resuming hearing of the case against Mr. Noel Instone Brewer, who is charged with alleged offences under the Perjury and Larceny Ordinances in the proceed- ings before Mr. A. W. G. H. Grantiam at Central Magistracy.
Bank Secretary's Evidence. Mr. P. L Leo, former secretary of the Instone Banking Corpora tion, stated in evidence that he was present at the meeting of share. holders, on July 21, 1998, and sub- sequently signed the minutes of the meeting.
He had stated the date to be June 10, but according to the letter book sequence a mistake was shown in typing
June
SANITARY BOARD BUSINESS.
HEREDITARY MONOPOLY
OF MARKET STALLS.
2
AN OPIUM BUSINESS IN A MARKET.
The following members were pre- sent at the fortnightly meeting of the Sanitary Board held 'yester- day-Mr. W. J. Carris (President), the Hon. Mr. H. T. Creasy, C.B.E., instead of July."the Hon. Dr., A. R. Wellington (D.M.S.S.), Majo: Cheyna, M.C., Quarles About Printing...
Mr. T. N. Chan, Mr. Wong Kwong Mr. Fitzroy Who gave you the
was Tin, Dr. W. V. M. Koch, the Hon. order 1 The original order brought to us by Mrs. Brewer. Mr. J. P. Braga, Mr. M. K. Lo,
Are you sure there is no mistake and Mr. J. Watson (Secretary).
remember Mrs. Brewer bringing in.
Refered by Mr. Fitzroy to the rules in the Articles of Association,it witness agreed that the printed balance sheet should be circulated not later than seven days before the general meeting, and he added that he sent the copies immediately after they were received from the printers.
The typewritten balance sheet was laid on the table at the meet- ing of shareholders and the Chair. man (Mr. Brewer) informed them of the alterations which had been made in the document and asked them not to entertain too high hopes. The report and accounts were then passed.
Mr. Fitzroy then read the minutes which in part were to the effect that the Chairman counselled the bareholders against undue op- timism. A dividend of 10 per cent. was declared,
Proceeding to refer to the diree tors' meeting held on August 2o of the same year, the minutes of which were signed by Mr. Brewer, it was shown that a resolution was passed under which a further call of 835 per share was made payable an September 10.
"
Evidence has been given carlier in the day that it was June 11 or 13 when you sent the proof of the balance sheet to the Instone Bank ing Corporation; is it possible 1— If we received the order on June 21 we could not have sent the copy on June 11.
On the proposal of the President Mr. M. K. Lo was appointed to fill the vacancy on the Colonial Cemetery. Committee.
The minute by the President re- Intive to the proposed amendment of the cemetaries bye-laws was adopted.
"and by written consent of the
Did you deliver 20 copies of the
Mr. Carrie explained that the pro- batanes sheet 4-I cannot remem-posed amendment referred to ceme bar, but we may have sent that taries other than Chinese. Ho number without covers. The com- moved the deletion of the words pleted work was sent on July, 13.
Cross-examined, witness that he entirely relied on the day book for the date on which the order was received. It was entered as June 31. The day book was written by whoever received the order. Wit. ness, received this particular order and he entered it in the book. As a. rule an order is entered in the book sa soon as it is receivex.
Questioned further witness said it was possible that the order was received before, the date entered in the day, book, but this was net probable. On the assumption that the order was received before the data shown in the book, it was possible that the type. was set 'bo- fore that date.
Official Receiver's Investigations.
next of kin of the person buried. The bye-law as it stood at present stated that no grave could be re- opened without the consent of the Board, and of the next of kin. This, he felt, fettered the Board in
of the exercise. its discretion, though no doubt they would seek to gain the consent of the next of kin before, allowing a grave to be re-opened.
Market Stalls,
With reference to his memoran- dum on the Shek Tong Tsui market stalls, Mr. Carrie said that the matter had arisen through two anonymous letters, one addressed Second Mortgage on Building“
to himself, and one to H.E. the Witness (Mr. Leo) said that he
Governor, complaining of the way the market was FILO. He had was present at a directors' meeting held on September 25 at which it
drawn up a memorandum which in- Mr. E. La Agneaiz, the next wit-elnded a rearrangement of the stalls was proposed that it had been
Was Official proved to the satisfaction of the 88, said that he
and the doing away with two of meeting that the business of the Receiver and liquidator of the them. He proposed that his recom Company was in a sound Snancial Instone Banking Corporation. A mendations should come into foree condition, and that any embarrass winding up order was made on ment that, was felt at the time was
June 10 Inst, and since that time not the fault of the management, witness had been engaged in in but due to unforeseen circumvestigating the affairs of the bank.
stances,
i
He had called in Mr. Ross to assist him by reporting in parti cular on the balance sheet, to show from which books the items half beeg extracted, and how they were made up.
in
three months time after due notice had been given to the stall holders, to give them opportunity of lodging a protest.
An Elicit Oplum Business." A second mortgage on the build
The Hon. Mr. J. P. Braga said ing in Des Voeux Road was then referred to by witness. The amount
that the question of market rates was an old one which was brought borrowed was $20,000 at the rate of
before the Board two years ago. two per cent. per month.
Cross-examined by Mr. E. David-
Some of the books investigated He considered that it was not the son, for the defence, witness said particularly were the Head Offee right principle to allow the renters that at one time the Instone Bank- ledger, Shareholders' ledger, Com to hold a heritary monopoly of certain stalls. He bad noticed that ing Corporation had branches both pany's cash book, Head Office loans in the President's minute, that in Canton and Shekki, but these and investments, and the Con when the President made an in subsequently had to close down, be- pany's minute book.
Referring to the balance sheet,spection, he had discovered an cause registration of the branches was not in order, on the orders of Mr. Agassiz enid he found that opium business in the coolie quar ters in the market building. Thia, the Canton Government. The Can the amount of capital stated as ton branch closed down before the $1,133,000 had not been allotted. In satisfactory, and showed laxity in the speaker considered, most un ong at Shekki, all this taking place arriving at this conclusion he con- the inspection of the markets, If after the balance sheet was pre-sidered the forms of allotment.. He they were any use at all na Board sented to the shareholders meeting found that five per cent. was pay the members should make surprise ou July 21, 1928.
able on application in cash, but it visits to the markets, both on the Mr. Davidson Was there not, did not appear from the books that Hong Kong and Kowloon sides. As therefore, a totally different situn-anything had been paid on appli to the tion in August than on the date of cation. The natural conclusion was hereditary system had the effect of he felt that the the balance sheet1-Yen,
that the applications were bad.
Witness also found that a trans of a small ring of men who com putting all the stalls in the hands fer had been made from Capital bined to keep up the prices In giving a reason for the altera- Account to Allotment Suspense Ac- tions to the original typewritten count out of the 81,133,000. Other balance sheet witness said that items were so transferred to that Mr. Li Tung had told him that it
account before the date of the would make the balance sheet look balance sheet. and amounts pre- better. This took place in the abviously debited to shareholders had senec of Mr. Brewer..
been re-credited to them.
Alterations in Balance Sheet.
Did Mr. Brewer appear to be surprised when he saw these altera. tions Yes, and he seemed dis- pleased with them.
A Sworn Statement.
rents
the opium business was not dis- Mr. Carrie, in reply, said, that covered by him but by an inspector of markets. The reason why it was not discovered earlier was that, there was only one approach to that particular market, and an inspector could be, seen. "coming
The
In the statement of affairs sword from some distance. It had been by Mr. Brewer before the witness, discovered by an inspector rushing Answering further questions, wit in July last year, page 2 refers to "P suddenly in a motor car. ness said that he was secretary of contributories. That was a state-coolie quarters were not actually in the bank from the beginning, and ment of the share capial, but there the market building. could recall that besides the shares. was no reference in it to the With regard to the. hereditary which were actually registered, $1,133,000 capital.
gyetem, he disagreed with Mr. there were applications for about in the summary of capital uncallstalls properly and did active busi-
Braga, As long as a man ran his- $1,130,000 worth of other shares ed and unpaid, the unpaid call on ness at each he could not be turned They were genuine applications the $1,133,000 was not included out. To get into a way of arbitrarily and were necepted by the Comexcept for one name which was put cancelling the licences of market pany. With regard to the applica down for 100 shares while the ap atalls, would result in their not tions for loans which were granted plications purports to be one for getting the best type of man to in respect of enils in advance, he1,000 shares. knew the people concerned were Collateral security loans amount there would be dearer market take them, and he thought that prepared to pay their calls in cash,ing to $343,830 were made up of prices if the stalls were let on short The idea of the loans was that, loans prepared on receipt forms term leases, and bid for, than if when money was needed, the money which had been produced. It also they continued to pass on from would be collected easily. At the included a sam due from Chan Sze father to son. time, it was intended that there Chin, which, in fact, witness had ahould be a trained manager for taken into consideration in a com- the Bank and the idea was that, promise with that person. WitncsS, pending his appointment, the money was in hopes of recovering some of could remain at call,
the money.
Mr. Davidson: So. far as you know at the date these loans were
tion of the Eank...
No Money to Make Loana.
The President's memorandum was adopted.
A discussion on the powers of the Board, arising on a question of coloured posters for a health cam- |paign, is reported elsewhere.
A million
made, were these shareholders in "The Company never had money a financial position to pay?
to 10 make loans, said Mr. Agasiz. neighbourhood of half m Witness: Of course. Re-examined by Mr. Fitzroy,pection of the books. In June or dollars, liquid assets on short term witness said he could not say how July 1927, thero, was $50,000 necall of three and half lakhs. At much was lost by the branches atcording to-the cash book. It par- that time witness, said the assets Canton and Stickki. The closing of ported to make loans for #781,000. were suficiențulto pay offereditora the branches damaged the reputa The value of the shares were de- na distinct from shareholders.
pendent on the Company's assets. Cross-examined by, Mr. Davidson, Les Kong, Shan, first clerk at the. In the opinion of witness the shares witness agreed that in book-keeping Land Office, produced extracts of were worth nothing. Collateral thero would be crossentries by two documents. The first dated security, witness understood, to. he which each side of the balance April 19, 1998, was a mortgage of something independent of these cheat would be increased by a cer- the Instone Banking Corporation shares which have even been paid tain amount. If a thing is wrong building for $150,000, and the other for. The collateral security state was a second mortgago dated Ocment, continued witness, was ab tober 1, 1028, for $20,000 at two per solutely incorrect in his opinion cent. per month.
with the exception of the itemi lating to Chan Sze Chin
in the books, however, itddes not put it right when it is carried to the balance sheet. The books should, have been put right before the balance sheets were made.
This concluded the calling of evidence, and after reference to the statement of the Supreme Court proceedings in connection with the bank stoffeira, the Corp-aditurze
Mr. Labrum, of the Ye Olde Printerie,, who had given evidence Mr Agassiz said that the balance before, was recalled and stated that sheet conveyed the impression that he wished to correct the date of there was a prosperous banking the letter written by him to the business, a large amount of paid-up Inst Banking Corporation about 1 capital. suntomers! deposits in the zne printing, of the Balance dhects:” (ContinULU DE YOSE OF Vezi column,) IKMUTE= ifternoon/
“CHEER UP, MY DEAR!”
MEET ME FOR TEA TO-DAY
AT
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1
RESTAURANT.
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Make sure you get
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which la mannfactured by Genatosan, Ltd., Loughborough, England, and is untouched by hand during the process of manufacture, Gecasprin containe në substance which can off and in any way the laws relating to food, sad may be takon by members of any ciste.
Obtainable from all Chemists and Stores in bottles of 35 tablets.
SOLE AGENTS:-W. R. LOXLEY & 00, TEL. 2533.
A
"Horlicks is always served when Malted Milk is asked for " says the management of Lane Crawford's Cafe" We keep other."
no
This we may say is general
amongst all high-class cater- 27'S, who pride themselves upon serving "THE BEST, NOT THE CHEAPEST.”
CHRISTMAS GIFT.
THAT LASTS.
How many times a day
do you look at your watch ?
KEEP YOURSELF ALWAYS IN
REMEMBRANCE.
FOR HER
TIME-PIECE WHICH IS ALSO AN ORNAMENT
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A STRONG AND RELIABLE MODEL
WHICH WILL PROVE A GOOD FRIEND.
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