THE RIGHTS, DUTIES AND LIABILITIES OF
THE HONGKONG TELEGRAPH SATURDAY AUGUST 5 · 1911
which a shurobroker luaving boon instructed to purchase a parcol of, say, 200 shares in a certain has been unablo to company,
POKER
Tells of Great Meral Lesson:
+
!
a
11
BUSINESS.
Wo sell him copper at fiftcon'. cents a pound; nnd ho practically transmutes it into gold, for wo
form of "bijouterio," buy it back us a bronze or in the
"No vi'lenco, Joo," be cution night. They say he's got a work HOW THE French do ed. "The gentleman's dong had on his nose. Mobbo this is lùm,” his intelleck some staggered. "Taint likely." said the old imost likely, long o' drinkin' Bill manu' promptly, "The hull Mis-
The trade of France is like that Hathaway's liquor, him, not bein' sissippi valley is chock full o need to that kind. Ronson with Smiths, an' nigh 'bout all on 'om of no other untion. We Ameri- him, Joo. An' if he's got that has warts on their noses. An caus prosper benso we have a American mills figure closely on The Euglish, German and wad, lead him back here kindly, even if this is the same man, I Thin't no senso in lettin' nobody rookon they won't find him for continent to develop, with bound-cotton cloth. The Frenchman also got a hot that
the next half hour, an' by that less possibilities for creating now gets out his pencil too; but, in
stead of putting down figuros, ho "I'll fetch him back all right," timo—"
woulth. Most of our enterprise draws designs. We probably said Bassett, and he left the place The old man started to make ar centres on providing goods for land the order on price. Then hastily.
evasive reply, but seeing the grin our lavish consuming public at wo spond some of our profit for on Mr. Owen Peppor's face, he throw his bungstarter at hini and home, and in houting things his cotton cloth for the sake of the pictures he has woven into it. directed the officers to the back around our sprawling country. room.
Wo pay our foroigu bills chiefly is fairly certain to be vitalized Whatoverthe Frenchmon makos The poker game was interrupt with foodstuffs, cotton, coal, with ideas. It may be a jewelled od radioly and Mr. Smith taken
Dinerals and petroleum. into custody again. Old wan
collur or a brouze, a sauce or a Groanhut was compelled to essh -John Bull has no continent, porfune, a piece of lace or a picco $140 worth of clips for him be- but he does a tremendous busi of millinory-ho will put person- foro he was taken away, as he Indness because he has been tetiveality into it and artistic feeling. won at the beginning, as was not in lending his capital to develop handicraft and unerring taste. France is u land of exquisito unusual when strangers in the other countrios. The world place carried mich money.
The Frenchman is not always Altogether the situation was trudos with him because it owes practical in his products and does | felt to be too painful for.commout, him interest on the morigige, not love fuctory production. His but after a long silence old man He has the bost buiking and ideal is to make a few highly in Greenlit said:
dividual things for a fow dis "Yo'd oughter learn a gro' skillful at making good cloth, of them might be the basis of an shipping machinery. Iloiscriminating customers. Any one moral lesson I'm this, Joo.
"Don't never got to gamblin' steal and other staples. More-industry in another country, but with no warty alrangers again, over, thore nro his colonies. whonit is suggested that he could not till after they done had a chunst at the poker gome.",
WHEN DOCTORS DIS- AGREE.
M
Germany has no colonies worth make money turning them out speaking of. Her banking and "Oh, lot the Germous do that!" chonply in quantities, ho says, shipping are of very recont and goes on to create something development.
Her money has olse.
SHARE BROKERS, (Continued from last Saturday.) procure a parcel of less tlun, say, The advantages of this practico 300 sliaros in such empany;
Thore's some people on airth aro clearly stated by Kelly C.B. in and in which instanco ho has what p'tends how they don't care his judgment in the case of Gris taken up for himself additional nothin' Dous money. O co'so sell v. Bristowe L.R.1 C.P. at p. 100 shares in the hope and expoc that's liable fo' to be true into 53, where he says "this practice nation (which he has undeavoured insane asylum. Them that's affords the public the very to realise) of selling such, 100 great advantage of being shares to another principal, lator lobed after constant an' has what oubled, by menus of a stock on, as a profit, though sach profit they reely needs thouten havin' hroker and stock jobber, to buy or may be merely the brokergo. | to.buy it, dîn't need no money.
"Th' ain't so mo' reliable man to sell ut any moment any quanti The very recent ense of King, "Butz'thonten a man's into a Joe Bassett in the o'munity seription of shares at the market T. 1. R. 111, shows the necessity's just a plain lier when he departed, "but he sho' la mon- ty of stock or number of any do- Vull and Benson v. Howell, 27ylum, or fitten to be into it, when ho's sober," remarked the Fold man after the big sheriff had price of the day, and concluding existing for a sharebroker to not the transaction, at the latest on with the utmost good faith in his plends anythin' like that. Evou strus ouroliable when he gets the solling-day; whereas, without dealings with his principal, either them that throws it away when too much o' Bill Bathaway's bug Ruchi a pratico overyone having with that principal himself, or they has any is 'bloedged fo' to juice in his midst," he continued any given amount of stock, Eng-through his agent.
Where take sono notice of how they 'n reflectively. "Did any of yo,uns lish, foreign, or colonial, or of brokers, instructat to purchase get mo' on it, wo's they e'a throw learn how was he come to meet debentures or shares in railways shares, are themselves directly or that way, 100."
up with this horo yap ?" or other joint stock companies, to indirectly interested in selling the While old man Greenhut was "I boored how him un' Hath buy or to sell, intust wait until alabares which they predlion for easing his mind by the uterance away was 'throwin' dive fo' sollor or bayer could be found to their principal, the fatter stay of these ideas, he was also engag-seegars an' the yap butted in,' soll or buy the exact quantity of repudiate the transaction, and the ed in darting fiery looks of said Sam Pooraall. stock or of shares which is to be brokers are mut entitled wither to reproach at Jus Bassett, who for Throwin' dico is gamblin, partod with or acquired, a state commission or indenity. In his part was extremely busy try said the old man severely, "an of things which in this country, the case eited, the plaintiffs, a ing to look inconcerned. It was don't never lead to no good. where some hundreds of those firm of stockbrokers, were in-evident that the two had had a Joo'd oughter know enough by purchasers and sales are effected structed on behalf of the defen- clash of some sort and that the this time fo' to stick to draw every day, would be found intolerant, by the defendant's agent, to big sheriff was being reproved, poker. able, and would speedily demand a enter into stock exchange trans- It was also evident from his "This hore' oughter be a remedy, which nolietor could actions with a firm of jobbors, of manner that he realized the pro-moral lesson to go uns. If he he dovised than this practice."
which firm, to the knowledge of priety of the reproof, for after he hadu't been gaublinho wouldn't As the same learned Judge the plaintiffs, the defendant had sat in silence for a few ha got to drinkin', 'tain't likely, said in the caso cited "In the agent was
The moments considering the subject, au' hoe'd ha' got the yap into a member, majority of transactions which transactions wore entered into, he said half apologetically, gine in the back rooin here an' occur, the solvency of responsi- apparently in perfect good faith, "I reckon yo'alf is toluble nigh | been some benefit to the c'munity. bility of the nominee or ultimate for it was aut suggested that the greet. Greonbut. Th' ain't no- "Mo'n likely he'll fetch him buyer is a matter of indifference defendant waspetually prejudiced baly 'round here goin' to set up tack, though, an' in that case
I en aflirm that all theso in-nerve with the world by moous to the boiler; for, when the selling in the slightest degree by the fact nothin' but money bein' 'Not all is lost, Not ever honor, cidents are true because most of of aggressive salesmanship. No culture; on its unsurpassed art day arrives, the sellor transfers, of his agent being a mumber of ya ue. What mid was there as the Good Book says.' and the buyer pays the price, or the fit of jobbers, but, on the was other things sides money
thom happened in my prosence other country has such a force of collection in the Louvre and other if he make default, it is at once plaintiffs claiming their emis in the world.",
and all in the presence of unim-drummers in the foreign field. great gallorios furnish ineximusti- paid by the jobber or the pureba-Sun and anongys pairi and payable
"I was "blondged to arrest himi pouchable witnesses. The facts But the old man was not to be afo". he'd come porcoable," here undisputed; I am writing this iasis quite different front all the tions. It is not the painter, Now the Frenchman is i Fronchian's charactoristio erca- ser's braker, and the transaction by them as the defendant's stock-appeased, is closed. It is only you a sale brokers, the transactions were
I know yo' done said that," explained to the old man, who in the hope that some historian,others.
was anxious for details, "an o' logician or politician will explain richest soil in Europe, but is poor draw upon those collections, bui Ilis country has the sculptor and architect alone who of shares in a joint stock company repudiated. Lord Alverstone he said. "Butas the Good Bookco's I searched him fo weepins.to me how two diametrically op in eoal and minerals. 1o has no with an unpaid up capital, and of 10.J. in the Court of First In-says, Actions speaks londor'n Thero wan'nt nothin' but money posite deductions can manage to prosperous colonies. He has lent the modiste gous to them for sug- which the solvency is doubtful." stance decided in the banker's words decs.' 'Peurs like if there for, of course, in respect of which favour; but, on appoal, it was was any way o'showin' what a man wan't safe fo' him to be tolin une try to set out things in their such conservative ways that his holsterer, the jewollor, the opazucl- onto his person an' judged emanate from a single fact. Let milions to other notions, but in gestions for hats and the dress maker for gowns; and the up shares a call may be made, for held that the plaintiffs were not didn't care nothin' 'bout money no such sum as he had, so I took proper order. payment of which call the regiontitled to recover, Cazens-liarly yo' all so did take the best way it for safekeepin'."
invesiniónts control little trade. ter, the leeworker, bookbinder, 1. About two thousand years ago His banking and shipping are silversmith, engraver, notal terud holder is personally liable) MIC. saying that the matter in what they tell me, that there
"That was right,” said old "that it concerns the seller to see wont to the whole foundation of yap rust had a wad as thick
the Emperor Me of the Chow not important factors in his chasor, and every sort of artist, that the ultimate buyer is a re-the har of principal and agent. sy leg."
uan Greenhut. "An' yo' c'n dynasty was being rowed along foreign business.
Ho utterly sponsible man. This ho has an That an agent instructed to buy
‚H ་ To sho' did have a wad," I'll open co't immojit an' yo'-e'n arrange him alo me right now.
in a boat when a fish jumped lacks the terman gonius for designer and fine craftsman, for into the bout. It was regarded getting about the world and 80 French Government has long ideas in their own lines. The opportunity of doing, under the could not himself sell was so well admitted Bassett, regretfully. regulations of the Stock Ex-settled a primiple of law that fis
plare the wad in the custody o' "Au' yo' all was boknowin' to
as a good omen and the fish was has no salesforce abroad. Yet change."
enten by the Emperor who, into exports two-thirds as much as fostereil art and design. Lordship was surprised that it that, any set up to the hotel the co't." In Hongkong, and in Shanghai, old in any way he called in drinkin' with him till yo' was both fused to do, bat he arraigned his
consequence, or at any rate in England and stunds fourth Paris there is a storeroom fille
In one of the odd corners of us also in other small, isolated question. Howonlody mention slowed. If that ain't lyin' in the
the ovent, roigned for sixty worid trade, coming right bohind parts of the world, the conditions the case of Rothschild v. Brookfare of a well-meanin' providence the justice demanded of the
prisoner willingly enough, and yours. I have the authority of Cermany. In estimated national are stifferent. The stare market an Dow and C1. 188), since th' ain't no way it c'n he did. Yo trembling culprit that he tell his
Chinese History for believing wealth he beats (lermany a trille, is necessarily very restricted- which that main principle had all e'd 'a' brung him here 'stid o
coming third. much so that not only is it im-never been and could not needin' yo' small change to the
2. I was assured last Sunday by French Monopoly of the World's possible that thore should exist challenged, and if there were any otolkeeper, in' once he'd got
four learned Chinese gentlemen that in consequence of (1) the two descriptions of members doubt on the Stock Exchange as to into in place that there wad of the low stock exchange, at the sonor that doubl was re- wouldn't ha' been lost to the frightened. He tried to talk, but | Chinose believe that the jump ing of a fish into a boat is con- ‚sidered à lucky omen for tho
occupants,
or
association,-brokor ·
and
11
Had to Arrest Him
This last the sheriff flatly re-
name...
This the man rafused to do,
appearing to be dazed and
was incoherent, and, being ad- dressed sternly by the justice, he inust in tears.
this.
(A Fish Story.)
been so urgently needed at home The Milliner's Artistic that she has few foreign.inrest-
Temperament. ments to bring trado; but Ger-
nany hes built up a vast com- been the centre of the world's For sovoral conturios Puris bus
Carrlage Trade.
it
ble store of materials for the
with statues bought by the Go vernment from budding sculp tors. The purchase is usually influence, it is said a form of made through a little political honest graft that helps the young The Frenchmangits placilly in artist develop bis talent. Hisstatuo Paris and skims the cream off the is not quite good enough for Paris, moved the bettor... the plain-munity."
work's "carriage trade,' " 08 jobbers, int it has
So they put it away. By and by been wero in no better position than Lost Sight of Victim.
were, while ho sipshis"aperitif" at customary for a slmrollder to act they had knowny that the firms
como town in the province wants "Sho' is myster'ous how that ns agent on hishalf of both seller of jobbers were gonty to buy and yap pors to disappeared," said delictus,
asidowalk enfo. By far the finest Jeanne d'Aro for a publicsquaro lle 'pears to be non compos 3. Within a hundred yards of sales he makes muy not appear and the Government picks one and pureh sor of shares. Such the firm had themselves sold to Jake
said the old man a practice as this has researly the brokers
Winterbottom, gravely gravely, "an' I reckon I'll demand into a sampan in which two Eng because his customers are wealthy statues. If there is is no Jeanne ne on the same day a fish jumped in his export statistics at all. from the accumulation of maiden It was the "Meble he done ment with foul him in yo' custody, Joe, till yo'lish gentlemen were passengers. travellers who buy in Paris and in strek they send the next bost cery great disvirantages, for, conflict of duties, not the conflict play long o him
an men en serre face masters" of interests, that was important."too much money, but I don't whether he just ain't soher yet, tlemen for stating that the luck-solves. Other nations under bid
showin' find out if he's reely all there or I have the authority of thces gen- take their purchases home them thing anno hrokerma perform the dution
From this authority it will be know nobody in Arkansas City But don't let that wad got away." ta a principal who employs him
less fish was at once divided by a each other in price competition, 'd take 'dvantage of a to will shares at the best peer repudiate ang fraction which mm bein' drank to rob him of part of the case, he made no were at ince burnt to nothing in Frenchman. It is a prime morit chanic at the bench must be
seen that a principal "is entitled to what
Reassured as to the important chopper into three pieces which but this seldom troubles the of temperament, inspiration, tainable, if he wells those shares en agent puts through on this money, not in no silent objection whon Bassett proposed quother principal who had em-
hehalf, unless the agent fully fashion, they wouldn't."
to lock the prisoner up in the
| that his goods are dear. He gets ployed him to buy the same at the
I tlon't seo's it makes no gre's hotel till his sanity or briety Englishmen and of the four learn-enstomers cease comparing prices Lino-and wants to bo appre 4. In the presence of the two the best prices on earth and his managed with sympathy. Ho Incest price m which they can beats him with, and he agrees
wants his own way and his own which may be calculated to in him," observed old man Grobniut. further proceedings were post him, 'under sucht eiremstances, to avoid committing a breach of fuence such agent to act contrary testily. The object befo themed for two days. his duty towards one at least of to the best interests of the prin-house, as they used to say in the At the end of that time the his employers. The only method cipal; and this oven though the legislater, is what's happened the prisoner seemed to have recover-brings bat luck.".
a charcoal fire.
The Frenchman is a creature
moods. Even the Fronch mo-
procarest. It is impossible for any circumstance whatsoeverdiff'renco what's happened to should appear. Accordingly all led Chinese I asked the crow why when they come to him, because ciated. If you take him out of a .
by which he could avoid com.sgent cannot be shown to havo in wad."
janyway so acted. The mero fact
AUSTRALIA AND ART.
TIME-
they did this. The answer was his goods are incomparable repeated many times: "Because
In a gloomy street in the city congenial atmosphere he is upset, fish jumping on board always of London hard-headed Scotch The "directour" of a Paris ad and was again arraigned.
bakery manager was buying it was unpleasant for him to sit maillinery studio complained that Just thon Jim Blaisdell unter-
The only conclusion I can archocolate. An Englishman, a mitting such a breach would be erecmstances, undisclosed el into the old man's saloon, and peaceful traveler named Smith,
He explained that he was a rive at is that a fish jumping into Gennan and a Swiss, each re-in a rertain oflice. A little detail by obtaining specific instructions and unknown to the principal, nodding carelessly to the party who was fond of hunting a bont either brings good luck or presenting chocolate
in the decoration jurred upon his hom one principal to sell. at Duvexist which to liable to conflict took his scontomed sout in the who had stopped over at Arkansas bad luck or neither or both. Will lacturors in their respective sense of completeness and har price, and instructions from the with the agent's duties, is sulli-corner and busied himself with City because ho heard the locality arrive at a conclusion more de- their finest grades. They figured
BOO kind reader holp me to countries, brought samples of mony. What was this detail ? uthor to buy at the same price; rient. The caso cited further goes his pipe. As no one had my sus was famous for its game. His finite-B. J. in the Yellow closely on prices and tried to whole rooms. Louis Fifteenth, "You do ust see! Why, tho and if, so far as he could ascer tain, similar shares could at be show that not only is the gestion to offer in reply to the old eccentric behaviour he ascribed to
Dragon," procured on the market at a lower immediate agent, int so also are man's last remark; it happened the strange quality of the liquor
persuado the manager that their But that little ornament on the chocolates were quite as good as electrolier is Louis Sixteenth price, nor could a higher price affected by such circumstances, but this was broken by Blaisdell
the sub-agents employed by him, that there was a period of silence, at the hotel.
"Hathaway sho' does, sell
the French brand ho had been They should never go together." obtained for them; but even in
"My nigger was tellin' some
purchasing. He listened to them pizon," said old man Groenhut,
The millinery trado is quite such a case it would be necessary The latter as regards their right.
to enforce a contract, made with pia' funny this mornin'," he said mollified by the explanation, "an
In the absence of Mr. Andrew and was attracted by the marked typical of French industry. for hire to disclose to each prite the principal, are in no better between pulis. "Said how how yo' sho' was lucky to be took Fisher, Prime Minister of Aus- differences in cost. He was a Paris is the centro for feminino cipal the fact that ho was also soling as agent for the other.
position than the immediate agent, there was a strenger picked up rare of till yo' come lo. But if tralia, Sir William Lyno, a former very canny Scoleliau; but in fashions. Vienna, New York, This being the law it is obvious on the road, bout a mile to the ye was lookin' fo a game yo'd member of the Commonwealth the end he ordered more of the Berlin and London now adapt Human nature will not easily admit of a sharobreker, who is that no contract between a broker north'ard, what didn't 'pear to oughter came here first off. The Government, attended on July 12 French brand, because it had a fashious for their respective needs, instructed by one client to sell his principal in relation to know who he was or how he come boys most gen'ly has ons in the at the Fine Art Society's Callery, delicacy of flavour that no con- but it is said that prugtically New Bond-street, to receive, on sideration of price and no sales every idea in women's dress cau certain shares, refusing to offer share transactions can stand, or there. Some said he was drunk, back room overy night."
Great Mora! Lesson Taught
behalf of the Commonwealth man's argument could outweigh, be traced back to Paris. those shares to another client would be upheld by the Court, but he 'peared to be mo' crazy
"All's well that onds well, as Government, fifty' roproductions "There is no real difference,” who, ho knową, is desirous of where the broker has acted for like."
Each year some twenty thou and principals-buyor ·
"What's 'como purchasing. It is almost Em-
on him?" the Good Book says," remarked of old masters which have been protested to salesmen. "We sand girls enter the Parisian possible to expect that, under seiler-without their knowledge demanded the man with enger the old man to Mr. Owen Peppor presented to Australia by Mfr. buy the fluest loans obtainable millinery studios and workrooms. We use the best vanilla and Of theso a few hundred will be those circumstances, he will feel and approval, or where the broker interest.
as sold his own shares to his "Duino," said Blaisdell care- the back room.
after the game was well started in Mortimer Menpes.
"Two days ago
In a letter to Mr. Monpos, Mr. sugar. Our process is the same, come skillful craftswomen and o that his duty towards his first principal is to deal with another principal, or whore the broker, Hessly. "Pears he went on to pared like the e'munity had done Fisher said: "There is a miscon- Ours is just as good.
few dozen dovolop talent, enough broker, and to endeavour to get inving been instructed to buy the north'ard.”
mot with a serious lost, but I coption that Australia is interested "Dom it, min!" replied the to rise to the proprietorship of shares at a certain limit, bays it Was there a wart on reckon the most o' that there wad only in the production of wool Scotchman hostely, "Shore'some studio where model hatis ure the highest price obtainable, Such, however, is unquestionably less price, and charges his nose?" asked Bissett with equal liable fo' to remain into the and wheat, and in sport. As every difference! dinas carenade, to be copied by big ostub- matter of fact, her small popula-what yo use; yo'l not touch the lishments in other countries, tr his legal as well as he more principal the limit ("Thompson sagerness. "An'a wad in his gun 'munity."
"Oh, I don't know," said Mr. tion luns produced, and is produc- French chocolato for flavour in a the less luxurious homio trade duty; and there om te Tittle Mendo" T.L.J. (98). In the pocket?"
"I didn't hear no mention Owen Popper.ws up to ing, an extraordinarily largo hundred years."
supplied; but porhaps not wore doubt that many share transcust innjority of instances, low- tions have occurred in the Colony
ever, such transactions as these no wart," said Blaisdell. “An Little Rock yesterday an' there proportion of singers, artists, and There is that infinitely varied thou ono girl will reveal thu. and in Bhanghai, in respect fed by the principal-possibly be knowed nothin' 'bout it."
are allowed to remain question I reckon if he hand a wad nobody was a heap o' talk thero 'bout writers. Indeed, she may claim and exquisite product, the article genius of a " premiero" and be A man name ' Smith what done to be the artistic quarter of the de Paris." The Frenchman takes come one of the doxon original which damages could have been recovered by a principat against cause he is unaware of his right "That's the man," deolured the broke outen th' insane asylun up Empire.. It is one of the inoxpensive materials some creators of Paris hats, whose pro liis broker for breach by the repudinto them, but more pro-old man with conviction. "Can't there the day. Pears he done particular objects of the Austra-pices of wood, cloth and motal ductions 1 ring the prices of other latter of his duty, or which might bably because he does not think be no doubt i'm the description." rabbed the safe afo'e ho got out, lian democracy to foster art in all and transforms them into art works and eventually in- Save been repudiated alloyeller about the matter.
it worth his while to trouble Basselt said nothing, but hen he took a heap o money. The its branches, and to give to all the fun, which sells for a hundred fluence the fashion of every There must, moreover, hays
was half way to the door when follicers is lookin' fo' lum, an' they people the opportunity of the dollars, or a thousand, und in country. (To be Continued next Saturday) 'the old man called him back. happened many instances in
reckon on ostohin' him by so, widest education,"
handed down as an heirloom, (To be Continued next Saturday)
two