100
THE NATIONAL BANK OF CHINA, LTD.
INTERESTING APPLICATION IN COURT.
5th inst.
THE HONGKONG TELEGRAPH · SATURDAY, APRIL 8, 1905.
'No?-No,
Not to anyone?-Not.to.anyone. No allowance? Nu. Of any sort -No,
You answer me to that effect ?—I am answer.
NEW BANK IN HONGKONG.
FACILITIES, FOR business with MACAO.
Did you put that in your accounts.—No. past one to let her husband in. A door leading You say you gave your wife £8 a month,~ to thể back verandah was open. The accused Yes,
came to the house about two o'clock. Up to July last year λ-October.
Yu Shun, jeweller, said that the defendant Have you given anybody else any money came in, with the ring which he sold for $4. besile your wife Noir.
The announcement that a branch of the Hla next anw him on the 3rd inst. Witness re Agenala do Banco Nacional Ullamarino, of No? No
cognized defendant at once; defendant simply Macao, has been established in Hongkong will No.
Have you given any money to any femaloped for the gold ring, and asked how much be learned with interest and satisfaction by a ney witness wanted for it, and witness said large nuniber of people. The close connec 15 Defendant then produced some money. tion existing between Hongkong, and Macao. Wathmas simply bought the ring as old gold, as
and the business interests, small as they are, | itwas broken, but he repaired it, and then ask-
ed for $15. He did not think it strange that a involved, might have led one to think that man who sold the ring fur $4 one day should banking facilitice would have been afforded he willing to pay $15, a few days later, for the long ago. The Hongkong banks have no agencies in the Portuguese possession and as the shop in' plain clothes.
W. Murienn, detective inspector. made in. Bank here, people who had to remit money quiries, about a ring reported stolen from either from Macao to Hongkong or vice versa Block 3A on the 15th ult. On the 3rd Rozario & Co, Hongkong, have now been ap were placed at great inconvenience. Messrs.
Bardsley, and said he had seen the stolen ring in a jeweller's shop in Wanchal. Defend bank, and it may be anticipated that they will ant said he had been there the night before and ed, and foster the growth of trade relations be clear away the difficulties which formerly existe negotiated for the purchase of the ring for $15. tween this port and Macao, In view of the Witness went with him to the shop, and on importance of the step taken by the Agencia the way handed accused $15. Defendant
do Banco Nacional Ultramarino, and the entered the shop first, and iwe minutes later potentialities in sight, a representative of the witness entered and found defendant with the Hongkong Telegraph visited Messrs. Rosario jeweller produced a book showing the entry culars regarding the objects of the agency in ring in one hand and the Ses in the other. The and Co, and obtained some interesting parti
gold refuse purchased $4"
Hongkong,
pital, while Mr. R. Douglas accompanied Capt. Williams as best man. The wedding over the bridal party had to hasten away to join the s.x. Coptic as Capt. and Mrs. Williams, ara - pro- ceeding to Japan for a six weeks' honeymoon, steamer, and the call upon the bridesmaids! and in consequence of the early departure of the
time the bride and bridegroom were unable to be present at an informal breakfast" hold later in the Hongkong Hotel at which about a dozen gentlemen were present.
THE CHINA-BORNEO CO., LD,
year, Mr. Walpole would again take over, the house. As a matter of fact in November the -fee was raised from $500 to $1,800. Nearly all | the summer of 1903 he was losing on the house. At that tíma Mr. M. Collins man- aged the Bay View Hotel and debtor visited The fan M. P. !1, Sharp, and Me, H. N. the place twice or three times a week. In Ferrers were engaged in an interesting appli and took charge of the premises. He had December Mr. Collins left and debtor went cation before the hief Justice at the Supreme been paying Mr. Collins $150 a month. Mr. Cut this morning, when the former (instructed. by Vesers. Descin, Lonker and Deacon' ap- Hoggett was then put in charge of the Praya plied on behalf of the National Bank of China East, and in March of last, year the Govern Limited for leave to amend the statement of
ment tank over the Bay View Hotel in order to claim filed by them in an action brought against Convert it into a police station, and debtor Mesura, P. Lemaire & Cons acceptors of a bill moved into the Metropole Hotel, and had to of exchange, arising out of certain transactions pay ab:ut $1,8x för putting the place in re- here and take the chance, of going through same ring. The defendant did not come to there was no representative of the Nacional holdars at the second ordinary yearly meeting in connection with the firm of Messrs. Edward pair, besides getting new furniture and bring Piry & Co. Mr. Ferrers, who held a brief-asing the old from the Bay View Hotel and the Counsel for Mr. F. P. Hatt (Mr. G. K. Hail Praya East Hotel. He considered that, on an opposed the application which had been ad. Hotel were between $1,000 and $3,000. He asked was it not $6,000 you owed when you inst defendant care to the station with Mrs. pointed the local agents of the Portuguese holders the second ordinary yearly report of. Bruttan's office) on behalf of the defendants, average, the monthly takings at the Metropole remained there until November, and although at the outset he did not expect the place would pay, he did not consider he had had a chance to get it, going properly. in June a, bill of sale for $3,500 was,Kiven on the fur nature, At the present time his liabilities amounted to $11,073, one item of $2,043 being due to Messra, Price and Co., for wines sup- Hotels in 1904. There was also an account of plied to the Metropole and the Bay View $1,80 due to a Chinese firm for alterations to the Metropole and furniture, etc., supplied. His personal expenditure was about Sto or $60 a month. All the money he had was lost in the business. He was a married man.
Jauined from Chambers into Court,
According to plaintiffe Counsel, in December of 1903 Edward Piry & Co, then in liquidation, owed the National Bank of China Ltd. a large "sum of money, something in excess of $10,000, The ink was at that time pressing, a Mr. J. S.- Plant, the liquidator, for payment," and on the 18th of the month he. (Plant) gave to the bank a bill of exchange for Sinoco drawn on the defendants to order of the company in liquidation, payable in three months. The bill of exchange was duly endorsed by Plant, to the bank and was accepted by the defen dants and the bank became holders in dne course. it fell due on the 21st March, 1904, but was not paid, Plant informing the bank that the defendants wanted an extension of time till the end of the following May. To this Mr. Playfair, the manager, agreed conditional upon defendants admitting their indebtedness to the bank and giving them a promissory note as proof of such admission and by way of further security. On the 3rd June the promissory note fell due and this also is unpaid. The bank therefore hold the bill of exchange and the promissory note.
Mr. Ferrers intimated that defendants resist ed the amendment (which was to add a claim against defendants as acceptors of the bill of exchange) on the grounds of undue delay and because, if allowed, it would put them in such a position that they could not obtain recompense by any order as to costs.
The Chief Justice-It seems to me an amend ment should be made, if necessary, to bring aut the real question at issue.
Mr. Stephens, When you left the Bay View Hotel to go to the Metropole how much were you in debt?
Mr Christie,-I don't know I could not exactly say.
But you surely know somewhere, near the mark; how much was it?-I don't know, sir, how much it was. -
You kept books of some sort, I suppose? My clerk kept the books.
ing the truth also you don't think I would come bankruptcy if I could pay people,
Answer the question ?—I am answering the leath
After, farther examination, Mr.. Stephens took over the Metropole ?-I don't think so.
Have you any proposal to make in reference to these debts--None at all. I have absolutely nothing. I have nothing myself; not a cent.
Can you make any proposal, for the credi tors-Nothing what can I do with $150 to fago a month what proposition can make I may be here months before I get a job, since taking over the Bay View. Hotel he had In reply to Mr. Bowley, the debtor said that
not acquired any fresh capital although various amount, which he received in connection with different fights had been placed in the business. For the furnitute and stock-in trade of the Bay View Mr. Downs and himself paid $1,160 Nothing was paid for goodwill; only two
months' rent to Mr. Osborne.
Did you buy any furniture?-Yes, later no. Did you and Mr. Downs go into the business on equal terms?-Mr. Downs only put in Soos he was going to be manager and give us his experience at the hotel.
After three months in the business you paid him $z.co Why so much? Because if I had not paid him out another man was to come in. Under your directions, I suppose?—Yes, but Up to the time he left you had already. lost money, yel you paid him $2,000? supervised them. How much did you owe, when you left theThe place had the, reputation of being a good house during the summer, months, and Bay View Hotel ?-Somewhere about $1,400.
if had not paid him out another man would
If you owed money at that time why did you go on? Because I had the promise of a man 515,000 into the business. He did not turn up, coming into partnership with me and bringing and failed to keep his word. I have letters in my pocket new which if can show his Lord
ship.
Debtor admitted that he did not keep a cash book although he had a petty cash book, monthly accounts and so on which showed receipts and payments in full
Mr. Ferrers wished to know why did pint they require the amendment nine months or a year before. The statement of claim was per fectly simple. They state there is the promis- sory note The defendants way there is no
Mr. Stephens reminded him that they did not show details of the transactions and Mr. consideration and the promissory note is
Christie replied that he did not keep an ac Invalid because it falls to comply with the requirements of the Stump Ordinance inas-count of every separate transaction over much as it was altered by changing the payee's the bar; they were included in the day's tak- name, after being negotiated and was not
ngs. Mr. Stephens pointed out to him that there were such entries as Dairy Farm, Price re-stamped. The plaintiffs refused to sue upon the previous security and now, after the plead & Co, Radecker and Co., and so on. What did ings have been closed and evidence has been they mean, he asked. Debtor replied that the taken on commission, desire in claim upon the Dairy Farm was for milk, Price and Co. for bill of exchange.
The Chief Justice. They are not amending they are changing-making a fresh action.
Mr. Ferrers. We say they cannot do it, that there must be a finality in these pleadings, If the bill of exchange had been originally
sued upon in October last we could then have paid the plaintiff claim and had recourse against the drawer, who has now gone bank-
rupt,
His Lordship-Suppose I refuse the amend ment cannot they sue you on the bill, and will it be any defence to you that the drawer is bankrupt?
Mr. Ferrers.-This bill has never been presented. Edward Piry & Co are now bankrupt. There were assets of the firm lo Hongkong at that time and now there are пол Edward Piry & Co. were then in a state of liquidation.
After many authorities on the point had been quoted his Lordship sid the principle was laid down that an amendment ought to be allowed if it would succeed in bringing out the real question at issue between the parties and in avoiding the compkeity of the suite. It should be refused if by the amendment the defendants would be placed in a position for which they cannot be compensated for costs.
Mr. Sharp drew attention to several paints of fact, observing that the application was made under section 186 of the Act which made
it obligatory upon the Court to make such amendments as may be necessary to determine the real question in controversy between the parties. He proceeded to outline the case as mentioned above and said that, so far as the question of stamping was concerned that was & technical point and would be swept away, while the point as to no consideration would be over whelmed by the evidence of the bank that they were owed $40,000 or $50,coo, and that the documents were given as payment of the indebtedness of the bankrupt.
In the course of further discussion Mr. Sharp said they would be able to prove that the firm of Piry and Co. was insolvent from the beginning and the only evidence before them at present was that of Mr. Plant, who stated that at the time the $10,000 bill was given, it was the sole asset of the firm.
His Lordship granted the application on the terms that plaintiffs pay the costs of same.
MR. JAS. CHRISTIE'S AFFAIRS.
BANKRUPTCY PROCEEDINGS.
6th inal.
At the Supreme Court this morning the public examination of Mr. James Christie, lately trading as hotel proprietor at the Metropole Hotel, Shankiwan Road, came before his Lordship the Chief Justice.
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wices, and so on.
$a, when you transferred your business to Mr. Stephens. You stated that you owed the Metropole, and on the 11th August, 1904, you wrote a leuer to the Victoria Dispensary in reply to an application for payment stating that you were sorry to say that you were unable, for at least ten days or more, to settle part of the bill, and that you had been greatly disappoint. ed over a draft of money from London. What is that draft you refer to ?-From my partner who was going to let me have this money.
On October 13 you say, "I am incurring no new debt." Did you incur any more after this date 7-No, sir, not that I am aware of don't say that i' did not with anyone else. I am referring to the Dispensary,
But you say, " um incurring no new debt," That refers to the Victori Dispensary His Lordship- take it he means he was not incurring any more debis with the Dis pensary.
Mr. Stephens. When did you run debts up to?
Debtor. Up to sometime in October. When did you take your bankruptcy pro- ceedings-Sometime in March,
Between October and March, what were you doing? Were you carrying on business?
No
When did the business stop 7-it was closed down in November, 1 wat away from the Colony at the time.
October?-No, I did not go to Swatow, i Didn't you go to Swatow in the month of
went to Shanghai.
What did you go there for 7-For matrimo- nial reasons of my own, and I don't think it is necessary to state them in Court.
Do you reside with your wife at the present time -1 do,not
Do you make her any allowance?—I do not think that question ought to be asked. My wife is in the Colony.
1 want to know what you did with this mo. ney. Where is it? I have a perfect right to ask you whether you make an allowance for your wife or not.-I don't at the present time.
When did you pay her some money last In the month of October,
October what 7--1904.
Had you been paying her money then?-1 bad.
What allowance did you make her?- £8 a mosth.
Regularly-Regularly. When did your wife cease to reside with you My wife left Hongkong in May or June,
1994.
You say you went to Shanghai for matrimo mil reasons. Is that what you said?-That is what I said
In what way?
Mr. Brutton-I do not wish to object un
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have come in.
rent of the Metropole Hotel was $400. He Continuing, debtor said that the monthly estimated the total value of the furniture at the price of 10,000, and on it raised a bill of sale for $2,500, and when it was sold by the Official Receiver last month it realised $3,056. When he filed his petition he estimated the assets $15,000-$10,000 furniture and $5,000 chits. He went to Shanghai on die. 16th, November last year, but before going he was served with a writ for $3,800, and Mr. Brutton accepted sar. vice on his behalf. He returned to Hongkong in December. At the time he went noith he had not been pressed for money except by Meners. Radecker and Co..
By Mr. Bailey-Between January. and March, rgo4, he obtained liquors on credit-from Messrs, Price and Co., MacEwen Frickel and
Co. Victoria Dispensary and others to the alue
of $10,282.
-Yes; a small profit.
You sold these liquors, I take it, at a profit?
What is the average profit when you get it wholesale and sell it retail across the bar?--That is a very hard question to say. It all depends upon who drinks. Some men may make six drinks out of the bottle and same thirteen.
A cask of whisky-how much profit would you make on it?-I never buy a cask of whisky, I always get it in bottles
In bottles, then?-About 25 per cent. Where has all this money gone to?-It has heen paid out to the "boys" and the servants, lights and license. That has swamped all
this up.
When you left the Bay View Hotel, why did you go to the Metropole? Was it purely a speculation, when you took this place-1. thought the Metropole would pay.
You lost, first of all, on the Bay View, then on the Praya East. You lost on each of them? --Yes, sir.
Why did you not stop then? You knew you were solvent, yet you incurred all there debts, when you knew you couldn't pay them?-1 could have done so, if this partner had come along.
You could not have paid them out of your money?—No, sir.
Since you left the Metropole Hotel in November how have you been living - I have been living on the boxing proceeds have made.
What were the last profits? What did the last fight realise?-$325.
Did you have to share profits with anyone With McCoy.
In reply to further questions, he said he got the money to pay for the Praya East from a fight he had with a man named Frost for $1,000 and gate receipts.
At the time you were negociating about the Metropole you had an offer of $40,000 for the hotel, and knew you were in debt all round?— Yes, sir.
Why did you not accept the offer?-Because this other man offered an amount that would clear the debts.
Don't you think it would have been the pro- per thing for the benefit of all your creditor. to accept the $40,000 and pay up all your debts-It would have been for the creditors and myself, but I went by the man's word as a gentleman.
Mr. G. K. Hall Brutton appeared on behalf necessarily, but it seems to me that this is no ness. I paid the money into the bank,
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going into his statement of affairs, regarding his money.
Mr. Stephens. I may a k as to his money. Mr. Brutton-Yes, as to his money, but nos as to his private affaire.
It is in the bank, but the accounts are not put in the account.--Yes.
Are there any other sums you have not itemised?—No, sir.
Have you see any money away to any one by draft? The only draft is the one I sent to my wife.
P.S. Fenton said that defendant came to the station on Sunday night and reported that he knew where the stolen ring was to be found. That was the day before he went to the shop
with Insector Murison.
Ping Min, a fuki of the jeweller, said he re- membered the defendant coming to the shop on the 16th March. He brought a gold ring and laid it on the counter, and asked the master to buy it, and he did so paying $1 for it. On the 2nd inst defendant went back to the shop and his master showed him the ring, He did not hear what was said then, but his mister and defendant went to the Station.
Chi Wan, house boy to the complainant. said that on funday Inst defendant came to him at about three o'clock, and told wit ness that the other boy had stolen a gold ring and run away. Witness answered no, the other boy did not steal anything. Both the master and mistress were out at the time.
Inspector, Gourley said that when defendant was arrested, and charged, be made a state- ment, which was taken down in writing,
Defendant said he was innocent of the crime with which he was charged.
His Worship said the charge against the de- fendant had not been, proved sufficiently to warrant
A conviction and he must be discharged,
The case against the jeweller, Yu Shun, for receiving the stolen ring was adjourned until to-morrow morning.
DEATH OF A PRISONER,
6th last. At the Magistracy this afternoon before Mr. F. A. Hareland, sing as Coroner, the Inquiry was held into the circumstances touching the death of Kwok Chat Pa, a prisoner in Victoria Ganl. pannelled :-Messrs. Chow Dart oong (fore. man), F. H. Doolittle, and A. E. Hollings.
The following jurymen were ens-
E. J. Pierpont, Chief Warder, Victoria Gaul, stated that the body the jury had just viewed was that of Kwok Chat Po, who was one of three admilled to gaol on the 22nd November 1901 under sentenced to death for wilful mur. der, which sentence was commuted on the 11th December 1931 to penal servitude for life. The other two, his father and brother were executed. A. Brookes, warder, depased that he was doing duty in the printer's shop, and deceased was one of the party working under him. On Saturday last, at 11.30 a.m. witnessed noticed aomething peculiar about the deceased, and reported it to the surg oo and deceased was sent to hospital. Decessed made no report to witness about being sick.
F. F. Robins, senior hospital warder, Vic.
toria Gaol, stated that deceased was admitted to the hospital on the 1st inst. suffering from fever. He was delirious at intervals. On the 5th inst. he became unconscious in the after- noon. He reported it to the Medical Officer and received instructions from him. The man died at 4.15 p.m. that day.
Dr. D. V. Koch, medical officer of Victoria
| Golaidhewisited bossesed at the goal hos pital on the morning of the rst inst. He was suffering, from malarial fever, and seemed to rally a little under treatment, but finally
became delirious. He died on the afternoon of the sth. Winess held a post-mortem ex- amination and was of opinion that the cause of death was malarial coma,
The jury returned a verdict that the deceased died from natural causes.
PANDALISM IN HONGKONG.
THE NATURAL FERNERY IN QUEEN'S ROAD
4th inst.
Many who have occasion to walk along Queen's Road East, writes a correspondent, must have noticed and admired the ferns and foliage which covered the grey ocky boulders forming part of the walls adjacent to the barrack entrance. They gave a breath of the country to the regular lines of the military buildings and reminded the newcomer, and the faded worker, of leafy lanes and pleasant dales in the old country. But to same vandal, who was evidently born without a sense of the esthetic, they appeared only as excrescences on the hill side. The drooping ferns, clinging miraculously to cracks in the rock, and and
sparrow could not ing a foothold where
His Lordship-It was evidently a firm offer and be (debtor) must have. believed it to be a good business which had to be worked up. Mr. Stephens, in re-examination ?--You say you paid into the account all sums you have taken in boxing contest. Have you put them in the account? I have put them is the ac count. I did not put them in the business ac count because they did not belong to the busi-stand, made no appeal to the picturesque, with the result that they have been ruth Tessly torn down and flung into the street. A gang of Chinese coolies, who might have been better employed, was seen the other day care fully pulling every plant up by the roots and in place of a charming bit of greenery there i nothing now but a bare and barren rock, devoid of Nature's embellisho ent as an islet in. the Atlantic. It would be interesting to know why the order was given to uproot the ferns. It could scarcely be held that they occupied a place of strategic Importance; nor could it be argued that they constituted a nuisance or an. eyesore. The very reverse was the case, for it those happy incidents which arouse the interest of the least. sentimental-could these plants have found a lodgment in the interstices of the rock, and drawa nourishment and life from the barren cracks. When it is remembered that in England people will walk miles to see a bit of fernery, the vandalism of the order to re; move these unoffending plants in Hongkong seems to be all the more pronounced. Was it the idea that if they were allowed to grow and flourish they might become rivals to the Fern ery in the Public Gardens? At any rate, what ever the reason, the rocky mounds have been denuded of their beauty spots, and the place seems colder and more forbidding than ever.
Mr. Bowley, in re-examination.-About your book debts how much do you think can be realised?—I think it could all be realised from the people in town. When the people knew I was bankrupt they would not psy. Most of
After a few more quesljons had been aiked and answered the examination was closed and debtor was subsequently adjudged bankrupt,
Hotel and the Praya East Hotel. In Decem. Brutton and said—"I don't want to live with the people that the chits belong to are in tow seemed that only by a freak of Nature-one of 1
of the debtor, while Mr. M. J. D. Stephens represented the Victoria Dispensary, Mr. F.B. L. Bowley (Messrs. Dennys and Bowley) appeared in the interests of Mesurs. Radecker & Co., and Mr. H. G. C. Bailey (Messrs. Johnson, Stokes and Master was present on behalf of Messrs. MacEwen, Frickel & Co.
Debtor, examined by the Official Receiver (Mr. G: H. Wakeman), said he was a hotel pro- prietor lately carrying on business at the Metropole, Hotel and formerly at the, Bay View ber, 190.he.commenced business on his own account, and prior to that date was the licensee of the Praya East Hotel where he was paid a salary of Sigo a month with everything found. He commenced bas ness at the Bay View Hotel with a capital of $3,500, and, with Mr. Downs as a partner, took over fic, premises. from Mr. J. W. Osborne at a valuation of the furniture and license, Mr. Downs finding about 5000 as his share of the partnership The business was carried on until March of last year; but owing to sickness Mr. Downs had been obliged to retire from the partnershi in the year previous and was paid $2,000 for his share of the business. When they commenced the partnership, both put in about Sgro each. Deblar knew all along that the Bay View Hotel was not paying, and on his partner leav. ing in April, he was obliged to put a manager in to look after the place while he went and took charge of the Prava East Hotel which he took over from.s Mr Walpole on payment of $1.383 on account and on the understanding that, If the licensing tag was increased during the
His Lordship-It is a fact he went. (Ad dressing the debtor) You have, of course, to give a reasonable reason for going, If you had to go on account of your domestic affairs.
The debtor-The reason my wife is away from me is that we were not living together She came up unexpectedly, I went to Mr.
her" I then went away for a time thinking that she would probably go away to Australia
Mr. Stephens. What has becanie of all this money you have lost?--It is outstanding.
What has become of it, all? You, had all these goods from various firms, MacEwen Fricket, Price & Co Victorja Dispensary and so on, amounting to some thousands of dollars. You have sold the stock; where is the money ?-What stock
You sold the wine and spirits don't know anything about them. It was put in the hands of the Official Receiver.
THE STOLEN RING.
5th init. The case in which Gunner Gilchrist, RO.. was charged with the theft of a ring belonging to the wife of Sergeant Bardsley, was resumed before Mr. F. A. Hazeland at the Magistracy this morning, when Mrs. Bardsley testified that I am referring to the time when you were defendant cime to the house on Monday night carrying it on? We were selling at a loss; theatr o'clock and told her husband he had rent and the licenses were so high, Money 1 seen the stolen ring in a jeweller's shop at haye had on account of boxing during the past Wanchai The jeweller, wanted $15 for it, three years I put into the, business and that and he said he had been to the police, and told has also beca lost,
them. The ring was originally, bought by her husband at Chatham, when she was present, and were paid for it. When she left her sitting room on the 15th ult, she placed her rings on top of the chest of drawers, and locked the door, She.opened the door at about quaṛters)
You have not paid away anything, which is not shown in the account ? No, sir.
Have you given any money away?—I have given Sto and $ away to different people who have been "hard:
יקט:
Tax San Francisco Examiner states that Messrs. E. H. Harriman and J. J. Hill, on behalf of their respective railroad interests, are sending experts to the Far East to ascertain the best method of extending the market for American cotton goods there,"
Mr. J. J. Leiria, who is in charge of the agency, stated that it was not intended merely to have an office for the issue of drafts on Macao. The bank was prepared to give ad vances on sound security, first mortgages, car go, etc. Although there is at present no iden of investing money in land, it is possible that the scope of the bank's transactions, may lead to land investments,
Hongkong has a debt in Macao which he The question was asked-Suppose a man in
would he proceed? wishes to discharge through this agency, how,
"If he had an account in the Hongkong and Shanghai Bank, for instance," Mr. Leiria re- marked, he could hand me a cheque and I would either endorse it and pass it through this bank, or give him a cheque of my own on the Banca Nacional Ultramarino Of course, there would be a small commission, but the convenience of dealing with Macao by means of drafts and cheques should easily compensate for that,"
Macao.
The repon for presentation to the share.
to be held at the office of the company, at noon, on Saturday, the 15th inst., is as follower—- sulting commitise beg to present to the share
Gentlemen, The general manager and con,
the company.
4,000,00
The accounts show a profit of...$65,745,43 From this has to be deducted I- Fess to consuling committee, Leaving available for appropria,
tion...................
$61,725-43
The consulting committen re
commend that a dividend of $1.00 per share on the paid-up capital be paid to shareholders $46.000.00 To write off faunches and lighters 10,000.00
plant............TRIMIT
2,400,00 timber concessions... 2,723.45 $61,733.45
Consulting Committee. In accordance.with the articles of association Mr. A. G. Wood election. reties, but being eligible offers himself for rej
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Auditor. The accounts under review have beca audited by Mr. W. H. Potts; who offers himself for re-election.
J. WHEELEY, General Manager. Hongkong, 5th April, 1905.
Following are the accounts :--
LIABILITIES. Capital:-
60,000 shares ea. $12 $720,000.00, Less 14,000 shares (un-
issued each $12)– 168,000,00
obligations was then broached. It should be The question of discharging Government explained that, in Macao, the Government will not accept cheques Hongkong banks in payment of taxes, etc. The Portuguese Trea Bury may occasionally relax the rule in favour of a well known resident whose position and financial standing are beyond dispute, but in the case of the vast majority of people nothing is taken except hard cash. Thas a resident of Hongkong who has property in Macao must proceed to that colony with a bundle of bank boles or a bag of silver dollars when he wishes to pay his taxes. Such a system is exceedingly unsatisfactory and there seemed to be no way of getting over the difficulty until the Agencia. do Banco Nacional Ultramarine opened an office in Hongkong.
"It will be quite possible," said Mr. Leiria, "for people in Hongkong to discharge such obligations in Macao through this office. If a Hongkong resident brings me a cheque on a local bank and desires to exchange it for one on this bank to be paid to the Portuguese Colonial Government through the office at Macao, I will afford him every assistance I am unacquainted with him I will, of course, make the usual inquiries as to the validity of the cheque, and then, if all is found in order, I can issue an order on the Macao Bank,"
In this connection, it may be mentioned that a Hongkong entleman with large interests in Macao also spoke on the unsatisfactory. arrangement. "There are no English agencies in Macao," he said, "so whenever any remit- tance had to be made we have bad either to send it in bank notes under cover, ar to buy drafts on Chinese banks. That is never satis factory and it might be considered, by business people, as far from a safe method of remitting money. Besides, it is more expensive, because the Chinese rate of commission is higher than that of the ordinary banks."
Sundry creditors
Balance, of working account
ASBETO.
$55,000,00
7,803.60
65+723-45
$635,526:05
Hongkong saw mills and goodwill.....St 50,000,00 Sandakan saw.mills.... 40,000.00 Talaga sawmills
47:11
Steam launches and lighters-
Value as per last, state-
ment .................... $91,242,76, Less amount provided,
for depreciation
***** 4,000,00
+
87,242,76 Since added...... 18,958,59
190,201-35
Sandakan engine works:
Value as per last stale.
ment ...
18,495.54- Since added..... $8,665.55-
Sandakan slipway-
Value as per last statp
ment
Plant-
37,971.09
5,628,79. Since added...... 39,030.41
34,639.20
Value as per fast state--
ment
21,827/13 Since added..... 1,889.79
--- 23,716.91
༈་་་་་*****་
4.
Land and bouse property.com, House and office furniture..............................e Kudat pier....mmmiin Timber concessions:
Value as per last state
ment ............................................££4,730.02 Less amount provided
for depreciation and 4,502.04
ince.added......
6,769.53 1,264.77 8,000.00
20,247.98
3,550,18. Sundry debtors...
--- 23,778.16 Stock of rough, and sawu timber,
6,249.27
Hongkong & Shanghai Bank, cash
stores, materials, etc......... 95,994,42
Cash in hand.....
with .........
In this connection, we maycite the case which was the origin of the decision by the Portuguese Colonial Government to refuse cheques drawn sidemble sum were invited by the Government on Hongkong banks. Tenders for a very con- of Macan and a Hongkong merchant submitted large amount on a Dongkong, bank, The a tender, accompanying it with a cheque for a
Macao authorities accepted the tender and the cheque, but when it came to cash the cheque they were informed that the drawer had not sufficient funds in the bank to meet the de- mand and accordingly the cheque was return ed. The Macao authorities thereupon framed an order that no cheques drawn on Hongkong banks would be accepted in the future as suffi To cient discharge in payment of Government taxes, etc. That single case of misplaced con fidence on the part of the Government of Ma- cao had a very serious effect on business, for the lead given by the Crown authorities was naturally followed by the merchants of thatt Colony, and indeed it is the raison d'tire of the establishment of this new branch office of the
By
Nacional Bank in Hongkong,
From the statement made by Mr. Leiri, it will be understood that the inconvenience suf- fered by the remitter of money to Macao up to the present time will now be done away with.
In Mr. Leiria, the Bank has an exceedingly careful and courteous representative, and the prospects of the agency are decidedly bright. It is un ferstood that the Banca Nacional Ultramarino contemplate the issue of notes, símilar to those of the Hongkong and Shanghai Bank. In that case, the Hongkong office will · be placed in a position to cash the Portuguese notes on presentation, which means that the business of the office will grow and the work of the management will be greatly increased. In every way the establishment of the agency will prove a distinct boon to people in llongkong and now that all its advantages are so apparent it only remains for people to wonder why, the agency was not started years ago.
WEDDING AT THE PEÀK.
WILLIAMS-POTTINGER
WORKING ACCOUNT,
Dr.
Management, office expenses,
and general charges at Hong
38,706.69
5,963,23
$635,526.03
kong, and Borneo 53,909.54 Exchange
"
Balance
13
13
Cr.
5.389.06
****** 65,723.45
$104,021.99
Profit on sales of rough and
zawn timber, &c.103,533.14 Interest ........ 470.25 Scrip feestenomnumima
1850
$104,033.99
MARINE COURT:
CERTIFICATE SUSPENDED.
6th fast An inquiry was held--to-day, before, Ma, Basil Taylor, Assistant Harbour Master, into circumstances connected, with the charge, of negligent navigation. prefarrad. by P. C.. David. Berrie against the master of the licensed steam launch Fuen Hing, certificate No. 501,
P.C. Berrie sald that yesterday afternoon he was on duty in No. 4 pinance, steaming east- ward, close in shore off the Central Market, and saw the Yun Ring coming. West ward so as to meet witness, nearly end:on, about: 200 yards; off. He blew, ons-blast and ported his belm. The convain” of the Yuen Hing, blew, one, blast, and. star 4th inst
boarded bis helm. Witness then saw that the The interior of the Peak Church was prettily coxswain was making a mistake and went on decorated this morning in honour of the wed, at full speed, putting bis balm hard sport. The ding of Miss E. Pottinger and Captain Williams, coxswain then reversed his helm and they who are so well known in the Colony that it passell about, 30 yards apart, port, to, port. was be expected that when the chaplain Witness hailed to coxswain to stop and went of St. John's Cathedral (the Rev. F. T. John- alongside when he found that the man. at the son) tied the nuptial knot there should be a helm was not certificated, and arrested him. large gathering of friends both of the bride and Tang Kau, master of the Fuen Hing said ho bridegroom present. Those who have been was not steering. This assistant was steering. laid low on a bel of sickness and have had He does not hold a certificate; he knew, el their comforts ministered by Sisters of the Peak that he was responsible for everything that west Hospital will long have occasion to remember on on board, being the only certificated man the kindly sympathy and cheerful smile with present, but he had to take his "chowly and which theywere always greeted by Miss Pottinger, was at the stern. The certificate, was not, op who, for many months past, has been on the board. Dursing staff of that institution, while those. Mr. Saylor pointed out that only, the map who have been brought in contact with Capt. with the certificate was responsible for the Williams, of the Chinese Imperial Maritime management of boats in the barbour. H Customs, have invariably found him a capital certificato was suspended for one month, and comrade and always the best of friends. At he was warned that when he got it again- he the ceremony this morning the bride, who was must keep it always on board. He was then given away by Dr. A. Rennie, was attended by sent with a clerk to bring the certificate, to the Miss Stacey and Miss E. Hair, of the Peak Hos Harbour office,