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HONG KONG DAILY PRESS, THURSDAY, JANUARY 16, 1936.
JEAN BATTEN
Flower Of The Air'
London, Dec. 2.
"Try Again" Jean Batten return- ed to England to-day from South America with new flying records to her credit and a new name writes a correspondent.
When she landed in South America, having been the first woman to fly the South Atlantie -nearly 2,000 miles over sea- the Braziliana lost their hearta to this slight girlish twenty-five- year-old New Zealander, and they promptly christened her Clavel del Aire, which means flower of the air.
THE RAVEN CASE
Policeman's Unrealized Vision Of Profits
ท
Did they have sufficient funds?~~~ I hardly think so...
Further interesting explanatory count his 100 shares of Tel. & Tel, evidence was given by the Ban and 100 shares of Western Union, Francisco stock and sharebroker, and the AO.F.C. had remitted that who has come here voluntarily to request to you, the transfer would testify, when the hearing was re-have been made, even though the sumed in the U.S. Court for China Finance Corporation had not that number of shares with you?--Yes, of the case in which Frank J. Raven, President and Director, and provided they had sufficient funds John Warner Brown, Vice-Presi- with us. dent and Director, respectively, or the American Oriental Finance! A month ago Jean flew away from Corporation again appeared on re- England with two evening dresses and before Judge 3. Helmick, to stuffed in a little bag as her only answer sixteen charges of em- luggage.
bezzlement, fraudulent conversion, false pretences, and larceny by trickery in connection with their ofacial positions and dealings with Finance the American-Oriental Corporation (one of the affiliated companies of the American-Orlen tal Banking Corporation, now" in iquidation).
、
GOOD-NIGHT TO PLANE This afternoon the Royal Mail steamer Asturias nosed her way through the fog Into Southampton
to
bring her back again the holder of the England-Brazil re- cord and the South Atlantic record snatched from France
The only increase to her luggage was a cardboard shoe box into which was recklessly thrown all her money-ir cash-and some beautiful diamond and aquamarine brooches, jewellery which had been lyen her by admirers in America. Her first thought on arriving in England again was for her Percival Gull aeroplane, which has spent the voyage with its wings disman tled on the deck of the Asturias.
Jean has watched over it like a child. Every night she used to go to say good-night to li before going to bed.
While giving instructions about the lifting of her 'plane to the quay, she told me something about her flight. With girlish pride she showed me four badges pinned to the lapel of her "Teddy bear" coat.. "I have been made an honorary officer of four air forces in South America," she said. "This one is Argentine; this the Brazilian Na- val Alt Force; this- the Bradlian Armyand, this Uruguay.
again.
The Judge: They must have sufficient funds to cover the shares of everybody?--Yes; in other words, Pierce & Co. treated the Finance Corporation's account as a broke- as long as rage account, and their account was properly margin- ed so that we can make those de- liveries, we go ahead and make them. If they go short on stock, they would have to deliver them to us at a later" date, or buy them
Mr. Felthan Watson, U.S. Distalde, trict Attorney, with Dr. George Bellett, Special Assistant, is prose- cuting on behalf of the U.S. Gov-
verent, while Mr. Raven is re- Presented by Mr. R. T. Evans for Tientsin), and Mr. Brown by Mr. C. B. Franklin, and Mr. W. n. Watson.
..
SHARËS ALWAYS PLEDGED Re-examined by Dr. Sellett: These shares were at all times pledged to you, were they not Yes,
J
Suppose a request had been made to transfer 400 Amer, Tel. & Tel, Mr. Thomas Waung, concluding and 109 Western Unions, how his "evidence from the previous would you proceed to make that day, answering Dr. Sellett, stated transfer if you had insufficient that the A.OF.C. had two accounts shares of those two kinds in the with the E A. Pierce Co., one, a "General account"?-We would ad- Safe-keeping account, for the vance the shares to them: in other for words, we would obtain shares else- safe keeping of securities cllenta, and the other, a "General where for the purpose-go into the (or Trading) account" which can-street and borrow them from the tained shares bought on margin, "Stock loan crowd." and in which all the Basset shares were pat.
POLICEMAN'S EXPERIENCES
Charles Robert Jones, a police Mr. Franklin: Were notices in. forming him of the status of his constable in the employ of the account sent to Mr. Basset?Yes, Shanghal Municipal Council, ex- but the notice only informed a amined by Dr. Sellet, spoke as to client that so many shares had dealings he had had with the been bought for his account: A.QFC, over a period of several was not stated from whom bought, years, placing with them, during "I don't think I would like to donor whether the shares were fully that time, orders for the purchase the fight across the South Atlantic paid or not. So, in Mr. Basseta and sale of New York stocks and case although he had fully paid the securities. "I began in August, A.O.F.C. for the shares, which the 1931, with an order for 57 shares of American-Oriental Finance Finance Corporation had purcha-the sed pursuant to Mr. Basset's orders, Corporation stock, "in local cur they were not fully paid for by the fancy. In 1932, I began dealing Corporation but were put in the New York' shares and stocks, margin account, and when the and continued dealing with the Finance Corporation until its col- notice of purchase was sent Basset by the Finance Corporation, lapse. I dealt with the American- Oriental Banking Corporation, as this fact was not disclosed to him well as with the AOF.C. I admit" signed an hypothecation authority on February 29, 1932, when I com- menced dealing in "American securities. I was first induced to
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But the notice sent to Mr. Basset showed that his shares were in the General (margin) account?.... There was nothing stated on the notice to that effect.
deal on the New York stock markët through a series of letters which I received from the Finance Cor- COUNSEL'S COMPLAINT
poration, pointing out that there Mr. Franklin stared to the Judge: was easy money to be made. I "We have been very seriously always considered the AOFC and handicapped by not having at our the American-Oriental Bank to be disposal any of the documents one and the same, but all the let- which will prove the defendant's tera about the US, stock were sign- entire innocence:
witnesses ed by the A.OF.C. who have been called, for the Gove ernment have been cautioned aga- inst answering any questions from
119.
even
Dr. Seilett: Do you recall what your position was with the Finance Corporation in the early part of March, 19357-Yes, only too well, Dr. Bellett; I think in such a case unfortunately. I owned 50 Electric Bs this the defence would natural-Bond share stack, common, a few ly refrain from discussing the weeks before the bank closed. I matter with our witnesses, or ques-received from the AO.F.C. from tioning them.The Government time to time, at the end of each doesn't wish to prevent the defenmonth, coples of my ledger account. dants from obtaining any evidence with the Finance Corporation, which might be helpful to them showing my position with them and they can question our wit Also I received a letter, signed by! resses in the witness box as much Warner Brown, enclosing two as ever they like: after all, # 15 certificates each for 100 shares of obejous that certain, witnesses are mectric Bond common stock. On Government witnesses, and I think March 14, 1935, I gave orders to the usual practice is to stay away | purchase a further 50 shares of from those witnesses in the same Electric Band, and on the same day way as the prosecution would not received a demand for payment of presume to get into contact with 03212.13. Including G.$2 for cable witnesses whom the defence pro-expenses. I sent a Hong Kong & pose to call,
Bhanghai Bank cheque for $549.18. The Judge: If the defence calls | iccal currency, being the equivalent for any specific document, the US of the US. currency demanded. Government will certainly produce | (The cheque referred to, marked | it, but it is unreasonable to expect: “paid." and endorsed, was identified them to go over a wide unspecided by the winess). Most of my bust- ares in a general hope for some-news was done through & Mr. Euther thing turning up.
Jee, a salesman of the A.OF.C..
STOCKBROKER'S FURTHER
EVIDENCE
A MOTORCAR DREAM Did you receive a dividend at any time on any shares?—Yen
Mr. C. C. Curtis, the member in the arm of E.A. Pierce Co, who Eld wom ziotice any phrasing on carpe from San Francisco volun- the dividend warranty?--I received tarily to give evidence, was recalled so te dividends that the novelty end in answer to Dr. Bellett stated of finding was entitled to a that quite a few" requests to dividend was enough for me. transfer-shares into the names of Why did you not have the last 50 Individuals or brokerage houses shares transferred to your name? were received, and if such a re- I bought at a very bw price, and quest was ever received in connecthey began to rise, and I was very tion with Telephone & Telegraph, kopetuk: When they reached a or Western Union Telegraph stock, certain point, I had made up my that request would be honoured mind to sell out and buy a motor- Cross-examined by Mr. Frank Car- hut the Finance Corporation
lin: Suppoking Mr. Basset had then closed down, and the motor- qucated the Finance Corporation car fad
on May 2to transfer into his. That rame, or to some bank or have Lizans them put into the safe-keeping ac- log lave
I was
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