HONG KONG DAILY PRESS, MONDAY, MAY 1, 1933
CONSUMPTION HAS -BEEN CURED.
CASE AGAINST M. THE
A RET YOA CONSUMPTION HAS BEEN FOUND.
DARK P. TONKERMAN, DISCOTERKH OF THS NEW BIKEDY FOR CONSUMPTION,
the dimense.
HARMAN
BUYING OF CHOSEN SHARES-
EVIDENCE OF ACCOUNTANT AND
BROKER
(Special Air-Mail Service)
C. TO-DAY'S WIRELESS
PROGRAMME
BROADCAST BY Z.B.W. ON 355 METRES
FAMINE RELIEF ROADS CRUMBLE
MOTOR HIGHWAYS ABUSED IN SHENSI AND KANSIL
The programme Between 6 to 7 15 p.m. will, provided reception
Kayuan, Kansu. proves satisfactory, be replaced by The famine conditions in Shanei, the Daventry programune,
especially Kishan, Fengsiang, Fu- 11-11.30 m.-Stock and exchangesien, Lichuan, Pinhsien and Sian, fong, Wukong, Hingping, Kien- quotations, weather report. 11.30 a.m.-Chinese recorded pro-
gramme..
12.30, p.m.-European programme of Columbia, and Regal records.
1 p.m.-Local time, and weather re-
port.
1.15 pm relay of the Hong
Kong Hotel Orchestra by cour tesy of the management. (Dur ing the intervals recorded music will be brouleast from the Stadio).
Cross-examined by Mr. de Vor teuil; the witness said his firm had been auditors of these companies for four or five years. The invest ments he had referred to would not be worth book values. When he of conspiring to defraud the share-soid "owing to present conditions," holders of the company. The ac he was referring to world condi- | - cused, who were all an bail, are:-Ị tions. The general slump began | 1.20 p.m.-Local weather foremat,
in about June, 1929. The company ote.
of Martin Coles Harman, 47,
London, April 11.There was further hearing at the New Court, Guildhall, yesterday of the charge Marvellous au It may soom after can against Mr. Harman and three turion of failure, a remedy has been dis-ether directors of the Chosen Cor- sovered that has oured the deadly Con-poration, Limited, on the charge sumption oven in the advanced stages of No one will longer doubt that Consumption can be cured after roading the proof of hundreds of canas oured by
by this Wonderful discovery-some aftor charge of climate and all other romedies tried had failed, and the case
of care. itzalf also This now remedy
Catarrh, offactive and speedy in curing Bronchitis, Asthma and other serious throat and lung troubles. In order that all in need of this wonderful product of Science may learn of its affiency for them- selves, a Company has been formed to distribute it to the World, and full particulars can be obtained by writing the DEEK P. YONKEERAN CO., LTD. (Dept. C. 381), 118/120, Fleet St., London, EC, and mentioring this paper.
had been pronounced proYo lai
ABSOLUTELY FREE.
1920, though in 1929 the position
Grosvenor House, Park Lane, W.; was solvent in the years 1928 and 1915 p.m.-Close down.
Berkeley Fairfax Conigrave, 61,
was not so good. There was a big Relay from the Ke Shing Theatre of Lancaster Gate, S.W.:
drop in revenue. But for the two. Herbert Heley Pounds, 64% of years referred to the company was
"very much solvent," and h Russell Road, W.; and
perfectly sound basis.
Emile Georges Changeat, 56, Bartholomew Road, NW.
of
All are described on the charge sheet as company directors.
Mr. G. D. Roberts appeared as
Do not wait if you have any of the 1 for the Director of Public aymptoms of Consumption, if you have Chrunip Catarrh Bronchitis, Asthma of any Threat or Lung Trouble; write to day and benefit yourself before t is too
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Prosecutions; Mr. F. do Verteuil and Mr. Gurney Beagley were for Harman, Cbaigrave, and Pounds, and Mr. Wilrid Rutherford de fended Changeat.
Pc-
Mr. Charles Reid, member of the firm of James Meston and Co., Leadenhall Street, chartered countants, said that his firm acted as auditors for the Central Oil Mining and Chemicals Trust, Limited, the Rock Investment Com- pany, Limited, and the London
A
д
&
Mr. Roberta (re-examining).-The slump in investments other than gilt-edged has continued since? - Yes,
And dow that increase the diff
culties of directors of companies in making investments or loans with their companies' money? Or per haps I had better put it this way: Has it made it all the more neces- sary for directors of companies to be careful. how they invest the the money of their shareholders, or how they make loans with their money I should say yes.
Money from Korea.
many
Mr. Charles Micklem, a partner Irish Trust, Limited. Of those in the firm of Cazenove, Ackroyd, companies Harman was in 1930, and Greenwood, stockbrokers, 10, 1031, and part of 1932 chairman. Old Broad Street, stated that he
known Harman for The witness produced the report had and halanca-sheet of the Central years. In August, 1931, Harman Oil Company for the year ended came to him and said he was being April 30, 1932, and quoted the fol pressed by either one or more banks lowing entry: "A large transae with whom he bad deposited Chosen tion in shares resulting in a con- Corporation shares a security for siderable profit to the company has loans. The nominal price of the been carried out with another com
shares in the market was then very pany under the sume management." low, and apparently he did not That referred to 57,500 shares of desire to have them thrown on the the Chosen Corporation, which market at that time. The price was then between "23. 6d. and 5s. Central Oils acquired for 48. share. They sold them for.El Harman said the money for them share. The "company under the would be coming through the earn. same management," said the witings of the mine in Korea, and ness, was the British Bank of For that the Japanese companies would eign Trade.
like to buy shares as the money for the payment of them became avail- The Central Oil Company, colable. It was then agreed between tinued the witness, had an account with the British Bank, and at May 1, 1931, the state of its (Central Oil's) account with the British Bank showed a considerable overdraft. By the end of the next year the bus against security had dropped from £50,000 to £1,422 138. 8d. The overdraft at the bank was included in that larger figure.
Mr. Roberts. At the time of which we are speaking these three companies were in precarious financial position-their income was negligible?.
The witness-I do not think that you could draw that conclusion From the accounts. From the credit point of view the income was much smaller than it had been in previ- ous years. The main assets in each year were shown as investiments at cost, which amounted to about £690,000.
was
"Frozen Assets."
to
Harman and the witness that he should buy 75,000 shares at 3 a share, and he (Harman) would re- purchase them at 48, a share in instalmente payable over a period of six or nine months. There w29 the witness was to take more. Har- a supplementary agreement that
To-night,
6-8 pm-European programme. 6-6.35 pm.
Operatic,
Bund-Carmen" Entracte "' (Bizat)-The Band of the Carde Republicaine of France.-004, Vocal Duct" The Magic Flute "
also other cities north of Sian, is terrible. Conditions in some of those places are indescribable. Wo- men and girle are brought into the big cities and sald for a faw dol- lars, Thousands of homes have been torn down to be sold, the woodwork being used for fuel. Poor thousands and thousands of miserable people!
Last month we returned hers after five or six weeks' absence down country, and the trip back by our own motor car was any. Dust and thing but a joyride! ruts on the Bi-Lan Motor Road were a foot and more deep. Brid- ges were down, and parts of the road were washed away.
Bandits Everywhere.
Bandite seemed to be everywhere, the entire length of the trip from Tangkwan, the railhead, to here. We miraculously missed meeting with any c those undesirable fel- lows, for which we are very grate- ful to God, but many others fared worse falling into their hands, even Mail motor losing their lives. trucks have been held up and ransacked, drivers and occupants wounded and killed. Famine fugees swarmed the roada by the thousands going to Kansu, ant no doubt many of these evil men were camouflaged among the refugees.
re-
The Manly Heart (Mozart). Vocal Duet-Don Giovanni--Give Inf Thy Hand, O Fairest " (Mozart)-Mirim Licette and Deunis Noble.-9803.
Troops have been sont out to Orchestral "Aida"-Selection round them up but not much suc (Verdi, KIT. Tavan) New C038 500ms to have been thair lot! Queen's Hall Light Orchestra. Up here the roads are also unsafe
dor travelling, as bandits about at will, holding up all and Vocal Duet-" Trovatore "aundry. It seems a pity that the
"Home to Our Mountains (Verdi).
9301.
Vocal Duct.-"Il Trovatore "-
roam
roads can not be open for travel. ling, travellers and traffic living! in constant dread of falling into the hands of robbers. China is to
"Miserere " (Verdi)-Gertrudo be pitied with such distress pre- Johnson and William Heseltine. | vailing in her great land. -0168.
6.35-7.20 p.m.-
Light Opera and Musical Comedy. Vocal Gema" Follow Through" (de Sylva, Brown and Header son)-Columbia Light Opern Company.-9704,
· DX130.
ני
Roads Abused.
Motor car travelling would be a joy and treat in these provinces, if the roads were kept in repair, and bandits conspicuous by their Though the China non-existence! International Famine Relief Com- mission has spent thousands of Selection" Love Me Tonight" dollars on motor roads in Shansi -Debrey Somers' Band, and Kansu, these roads are left to take care of themselves! Motor Vocal Gems" Patiende" (Gily. The authorities ought to make cars, therefore, suffer tremendous. bert and Sullivan)-Columbia it a rule, to prohibit mule-and ox- Light Opera Co.-DX38.
carts using the motor roads. Offenbach Selection Holen'
But it's what do we care, go -a. Korngold)--Charles Pre- ahead and do as you please.". One tice and. His Orchestra. would think that the authorities DX330.
would want to keep communica- tions unhampered in case of need. Voot Gems "The Yeomen of What a market there would be for the Guard (Gilbert Sullivan) motor car sales. If the motor -Columbia Light Opera Com roads in Shensi and Kansu were pany.-9551.
kept in decent shape! The people possible. What takes 10 days by mule cart, one can do in two days Images by motor. We sincerely hope that the Chinese Authorities will make a good reputation for themselves by making bad motor roads and Keeping Good! There are plenty of unemployed who would be de- lighted to get on such a payro Here's hoping something tangible will be done in the very near fu-
4
man drafted an agreement which 7.20 p.m.-Closing local stock and like to travel by motor, if it is
was dated August 17, 1931, by which the witness was to purchase 21,000 shares at 48. a share, and
further 21,000.
Mr. Roberts said that the Nurup: (Japanese) Company "were to buy at 4. a share. The Japanese com panies in fact acquired 170,000 shares-not at 4s, but at 168.
and
Continuing Mr. Micklem said he desired to deal with. Harman and not the Japaness companies, nequired 120,000 shares, which were released to Harman at 48. a share, parcel by parcel, as payment was made by him.
quotations, etc.
7.23-7.40 p.m.-—“Iberia "
Pour Orchestra) (Claude Do- busy)-Paul Klenal conducting the Royal Philharmonic Orches tra-L1909/L2000.
740-8 pm. --
Variety.
Band- Aunt Hagar's Blues "ture.
Ted Lewis and His Band, Descriptivo Sketch-"Making a Talkie-Clapham and Dwyer.
DB134.
Band-"Out of the Bottle."
"We've Got the Moon and Six- pence "Deboy Somers Band.- CB477.
Vocal Dust-"Can't We Meet Again?"-Flanagan and Allen. -DB1052.
Band- Dinah "-Ted Lewis und.
His Band."-CB84.
Mr. Thomas Alexander McGib- Further questioned, the witness ney, an official at Barclays Bank, stated that the report and accounes 54, Lombard Street, stafed that of the Rock Investment Company Mr. Micklem had an account there, for the yeara ending December, 1930, and December, 1931, showed and in August, 1931, the bank dealt the gross income for 1930 was £440, on his behalf with 73,000 Chosen and a loss of £34,021. The main shares. On various dates Barclays Bank released these shares against asset of the company for that year payment at 4s, a share.
investments amounting
Band" Out of the Bottle " £828, 195. The balance-sheet stated Mr. Arthur Loo, sub-manager of "Put That Down in Writing " that depreciation of these invest Lloyds Bank, Covent Garden Deboy Somere Band.-CB477. ments had substantially increased, branch, was next called to give 8 p.m.-Local time and weather re- and the values were largely unas formal evidence, the object of port, certainable. The report stated that which, counsel said, was to trace 8.3-11.30 p.m.-Relay from the Ko the directors had not produced the history of the 57,500 shares
Shing Theatre. valuation of these investments. The which, as he stated in opening, were assots shown of debtors and sus bought at 28. 8d. and sold at 20s.
10.30 p.m.-Rugby Mid-day Press pense debite amounting to £33,644 The witness said the bank enden were qualified by, the witness as to their value. The whole conclusion was that the company had no money
and frozen assets.
*
voured to sell the 54,500. shares they held. They were finally, dis posed of to Barclays Bank nomi
nees.
news.
11.30 p.m.-Close down.
All records in the above European programes are supplied by Messrs. Anderson Music Co.
With regard to the London Irish
Mr. Henry Francis Robertson, Trust, in the year 1931, the witness, secretary to the Spies Petroleum said in his certificate all invest Company, 11, Angel Court, said of the British Bank of Foreign mente were held as accurity by that in August, 1931, Harman, Trade. He said that Harman was bankers and others for debentures, Conigrave, and Changeat: were co-opted to the board. in March loans, or acceptances, and he was directora of that company, On 1928, Conigrave became a director unable to express an opinion as to July 1, 1931, there was a board in August, 1943, the London Irish the valuation of the investments. meeting at which the three defon Trust was registered in September, The unascertainable amount of do- dants were present, Conigrave being 1996. Harman was the first dire preciation must be extremely heavy in the chair. A resolution was pres In view of present conditions.ed pharing at the disposal of Har The liabilities
toman 67,500 shares at 28. 740. ** £79,080. For the year anded share. September, 1932,_the_gross revenue. amounted to £277. The loss, apart from depreciation in investment, was £4,013 The assets, cash at bankers, £17 (the figure was. £18 for the provirus year), and invest ments, de, £524,066. The liabili ties were £00,064.
amounted
Harman's Directorships.
tor. Harman, also became a direc tor of the Rock Investment ou November 13, 1924, and in Septem ber, 1925, was elected a director of the Central Oil Company. Comi grave was elected à director of the Spies Petroleum Company November 7, 1920, and Harman was office of the Registrar of Joint 30, 1030.
Mr. Charles Carden, clerk in the appointed a director on December Stock Companies, produced-a-file-
The hearing was adjourned till (Continued at foot of next Volumn) Wednesday.
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