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THE; FAVOURITE" INVENTION OF THOMAS A. EDISON
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NOTICH
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action.
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SHARE GAMBLING.-
that a receiving order be issued.
MONDAY, NOVEMBER 27, 1922,
A Valid Contrack,
In Hibblewhite v. MiMarine :3 LJ. Ex. 271, which was a case of -
Quser's Road Cantral and tander- tiate on a 20 per cent. offer in very clear intention on the part of the The judgment of Lindley 2. od to him củah far 500 shares in different from a refusal by a debtor to suspend payment of his affirmed in the Court at Appoɛ]. the China Provident Igan and debtor to pay anybody, combined | debts, and that -- bis creditors, In Mortgage Company Limited. The with an offer to the claiming credi- the terms of the language used by The Greenfield Case. above named debtor informed me tors to take his business. Nor do him, could come to no sther con-
that he had no abares and that he I think that Mr. Greenfield's state-clusion: Judgment was delivered on was going into bankruptcy as be ments made to four distinct cred!-
I may add that at the close of a deal in Railway shares, the head Saturday in the case in which had not even enough money to pay tars could be regarded as "casual ¦ the argument Mr. Zeitlyn drew my note reads: "It a party-contræets- several brokers -sought to have his workmen.”
talk" or "not as a notice that he attention to the case of Ex parte to sell goods to be delivered at a Samuel Greenfield, of the "Do be
bad suspended paymant," within Scott, 1898 1 Q.B, 619. That case future day, of which he is not pos Evidence Unchallenged. Chairful" chair shop, adjudged
the language of Lindley LJ. He decided that a staternent by a dob- sessed at the time of the contract, insolvent, in consequence of his Now the debtor was it called was confronted on settling day by tor, to amount to a notice of me nor has entered into any agree. failure to pay $250,000 losses in-and there was practically no cross these creditors who had come to pension of payment, must be one ment for the purpose thereof, nor plo incurred in selling short during the examination of these witnesses on him for the purpose of settlement which means that the debtor in has reasonable expectation of be recent boom in China Provident this point. The foregoing evidence which had to be made on settling tends to deal with his creditors as corsing possessed thereof, within shares. The Court found in fav therefore remains anchallenged day, and he tells them that he ean- a body, and not merely with one the time limited for the fuldheant our of the petitioners and ordered and I have to decide whether it t pay anybody, that he is bank-or mere individual creditors. It of the contract, otherwise than by amounts to a notice of suspension rupt and that they could take his also decided that the sub-section purchasing them after the making The Chief Justice, delivering of payment within sec. (1) (3) business. The language contains applies to non-traders as well as to of the contract, auch a contract is judgment, said: This is a credi- of the Ordinance. That sub-sec- no tentative proposal: it is final. tradera.
nevertheless valid.” “Parke B. said: tors' petition for a receiving order.tion is taken verbatim from the As to the other case relied on The petitioners are two sharebrak-Imperial Act (The Bankruptcy by Mr. Zeitlyn (Clough Samuel reply to a request for payment of by allowing parties to sell goods The facts were that a debtor, în "No legal principle is endangered ers and the claim is in respect of Act. 1883).
1905 A.C. 442), a stock broker be- certain share transactions. The The learned counsel for the ing hopelessly insolvent told his creditor's account said "No I of which they are not possessed. petition is opposed on the follow debtor submits that a declaration Stock Exchange creditors that he when urged to see the applicant be considered a wager, because won't pay shybody_now,” and A transaction of this sort cannot by an outside trader to sharebrok would have a difficulty in paying she said, "It is too late. I am both parties are not cognisant of ing grounds: tot That the petitioners have ers of his inability to pay is not a them at the approaching the acting under advice and I refuse it; nor has it any tendency to in been guilty of a breach of notice of suspension of payment meat and suggested that they to see any body at all." Vaughan jure the public. Indeed the fewer duty to their client which within the meaning of the sub- close their accounts
him Williams J. in bis judgment said; the restraints imposed upon the should disentitle them to the section. He contended that there which they did. It was held there what she was really saying was: contract the better." order asked for in this Court is a distinction between ordinary was no intention to suspend pay.
In my opinion the foregoing an- in bankruptcy jurisdiction creditors in the ordinary course of ment of his debts and that no such cannot pay you or anyone else. (6) That the debts alleged are of business and between broker and notice was given within the mean- have taken advice and I am ad thorities dispose of the contentica a gambling and illegal nature creditor, and that no ordinary cre- ing of the sub-section. There is,vised that I must deal with my urged on behalf of the debtor that and are irrecoverable in law,ditor was called to prove notice I think, no legal analogy between creditors collectively." And he those share transactions, f.e. the The that case and the one before me held that it amounted to a notice with the Bye Laws endorsed n sale notes taken in conjunction (e) That to act of bankruptcy has of suspensign of payment.
learned counsel - relied two as is demonstrated in a judgment of suspension. been committed.
the back, are illegal as wagering Tho (1), Ex parte Dastier reef Lord Halsbury p.445.
Now I think the case before me contracts. For the purposes of ground. The set of bankruptcy Friedlander 18 Q.B.D. 171; (2), debtor stated that on the approach is analogicus and probably an a the argument I have assumed that alleged is that the debtor has Clough r, Samuel 1903 A.C. 442. ing settlement day he would have fortiors one. The debtor told the Act of 1843 (7 Geo. 2, e.8) is case (Ex parte difficulty in paying, whereas Mr. several of his creditors "I have no in force here. It was as a fact given notice to certain creditors that he has suspended or that he Oastler) it was held that the Greenfeld makes a clear statement money. I am not going to pay repaaled in England 1860. I need is about to suspend payment of his notice must be given formally de of his insolvency on debts within, sec. 3 (1)(h) of the liberately and with the intention day. Lord Halsbusy said: "I have certain of his creditors, that he that there is nothing in Ex parte anyone,” and he added, in reply to only further observe on the point Bankruptcy Ordinance, 1891. {of giving notice, and therefore no doubt he was hopelessly in-
Garden 52 Sol. Journal 209 that was bankrupt. that a statement by the debtor solvent
I think he had
bas, I think, any beating on this that he is unable to pay his debts no, intention to suspend pay.
case. in full was not an act of bank men:
I daresay a bush ness man would infer that he was ruptcy.
THE FAR EAST BUILDING CO Nos. 42, anc 44. Des Voeux Road, Ceutral.
Pet. 143 9082, Centru,
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I will deal firstly with the last cases:
In the former
វាធ
Suspension of Payment The evidence as to notice of sus- pension of payment is contained both in andavits of witnesses and
I may observe that there was a in oral evidence given in these decision of a Divisional Court of proceedings in support of these contemporaneous date (Ex parte affidavits, and is as follows:
Nickell 13 QB.D. 470) which was Mr. Razack, one of the petition-accepted Ex parte Oastler, that ing creditors, in his affidavit of the notice may be given orally to 29th Sept., 1922, states, "I was in the debtor to one of his creditors.
with
settlement
The Gambling Plex. As to the other two points, I can'
On the further point I am asked, likely to do it, or perhaps that he deal with them briefly. To es owing to the circumstances of this was likely even to become bank-tablish that the contract is vitiat. Case as disclosed in the cross-ex
amination of witnesses, to rupt; but he would infer that from ed as a gambling transaction, the exercise jurisdiction refuse the circumstances and not from learned Counsel for the debtor ruptcy, and it was suggested that anything said by the debtor." contended (a) that by virtue of "other sufficient cause" has been Then Mr. Alabaster cited the section 5 of the Supreme Court shown within the meaning of sec. case of Crook Morley 1891 A.C. Ordinance, 1873, the Act of 7 7 (4) of the Bankrutey Ordinance 316. It is a decision of the House George IL Cap. 8 is in force in this to justify the dismissal of the peti Precedents.
of Lords and the facts were that Colony and, (b) that the last nam tion. The authorities are collect- Well now, before referring to a debtor sent to his creditor this ed Act makes all share transac ed in Williams on Bankruptcy money and was not going to pay the facts in Ex parte Oastier, letter: "Being unable to meet my tions by way of wagering illegal. p.55, which indicate the views acyone, and he further stated that observe that later cases have laid arrangements, as I told you, I in- Now the authorities on the only thing he could do was to down that the question whether or vite your attendance at (a specif-Exchange transactions in relation
Stock taken by the Courts as to the transfer his business to all as not the contents of a notice to ed, place and time) when I will brokers." In the witness box Mr. creditors constitute an act of submit a statement of my position to gaming and wagering are Razack confirmed this statement bankruptcy is one of fact to be for your consideration and deci amined fully in 27 Halsbury at
formed by the said debtor on the 26thth day of September, 1922, and 1 verily believe that he had DO
"
Clear Intention to Suspend. Firstly I notice that it was a
In that case the plaintiff, a bro-
words "other sufficient course."
and they shaw, I think, that the words are
construed
as being ejusdem generis to the preceding
as follows: "On September 26th, decided in each case (Re Lamb 4 sion." It was held that the letter page 259. He states that "although words in the sub-section. No at settling day, I saw Mr. Greenfeld Mort. 25). The effect produced would naturally induce the credi-it is possible to gamble or spect- thority was cited to me to show He told me "I have no money to on the mind of the creditor by a tors to believe that the debtor in- late on the London Stock Ex that any breach of duty, if such pay. I am not going to pay any-notice the words of which infer an tended to suspend payment of his change, it is almest impossible to existed in the part of a petitioning one. All you brokers can hare my intention to suspend payment is a debts, and therefore amounted to make a contract there which is creditor, is a ground for dismiss- shop."
general test which may be applied a notice that he was "about to void as a gaming and wagering ing a petition within the meaning Mr. Carvalho, assistant to Mr.in answering this qusation. (Re suspend payment," within the contract." The authority cited is, of the sub-section. da Silva, the other petitioning Lamb supra and Crook v Morley meaning of the sub-section.
Thacker v. Hardy 4 Q.B.D. 635, a I make an order for a receiving Artistic photographs for creditor, in his affidavit of 29th 1891 AC. per Lord Melbourne at
decision of the Court of Appeal.
erder. September, 1922, gates as follows: p.321). all occasions.
"On the 26th day of September, Now in Ex parte Castler the Call, or Phone Central No. 4310. 1922, I called upon the above nam debtor, after stating that he was circular addressed to all the crediker and member of the London ed debtor and asked him for junable to pay his debts, offered 20 tors, but having regard to the Stock Exchange, sued the defen-
being per cent. dividend and said he terms of the sub-section and the dant r commission and for anto arrange a match between Bat cheque for $11,917.50, money due to the said P. M. N. da would obtain assistance from his authority of Ex parte Nicoll, indemnity in respect of certain ling Biki, the Senegalese, who Silva on Stock Exchange transac-brother in law if he could arrange notice to any one of his creditors contracts into which he bad enter-recently knocked out Georges tions. The above named debtor with creditors. Cotton L. said: is sufficient. Lord Selbourne LC. ed pursuant to instructions of & Carpentier in Paris, and Guiseppi informed me that he was absolute-But the debtor did not in fact in-adopted the language of Bowen and 9 Viet. e. 104 sec. 18 (The Spalla at Milan, bas resulted in ly bankrupt and that he had no timate either that he had suspend. LJ. in re Lamb, to which I have Gaming Act 1845). It was held closing the doors of all Italian box- shares to deliver and no money, ed payment of his debts, or that already referred, as the true test that the plaintiff was entitled to ing clubs against the Senegalese. not even $500. He further stated he bad any intention of stopping "What effect would the circular recover.
DON'T WORRY
You often do when chosing
a Xmas Present to send your friends at home, you don't know what to buy. A Photo of yourself or your children taken by
MEF CHEUNG., PHOTOGRAPHERS, always pleased.
MRS. SEKAI MASSAGE
THE CANTON BANK, 2nd Floor,
with
creditors?”
regard to his
ITALIAN CLUBS BAN SIKL Rome, November 15.-EForts
REALLY GOOD SPECTACLES
that the said P. M. N. da Silva paying his creditors. He only produce on the mind of a creditor After dealing with the Act of could have his business." This said: My assets are insufficient to receiving as the intention of the 1845 (8 and 9 Vict. c. 104) which statement the witness confirmed pay my debts in fall. If my credi- debtor in the witness box.
tors will make an arrangement
is not in force here, Lindley 3.| Mr. Lammert, a sharebroker, in with me, I can obtain assistance Lord Watson said: "The Ban-deals with the statate 7.Geo. I are such a comfort to tired or his affidavit, of 29th September from my friends. That was not kruptcy Act, 1883, does not pre-cap. 8.The Act prohibits gambling strained syes that their value
If states as follows: "On the morning an intimation that he had suspend- scribe any form of words for alin "any publick cr joint "stock" or cannot be overestimated. of the 26th September, 1922, Ied, or that he was about to sua notice under sec. 4 (0) (b). It other publick securities what-your eyes need glasses, they No. 11. DOUNDELL ST. HONGKONG. his premises No. 51, Queen's Road say an intimation that the credi- notice will be sufficient which is required a statute (7 Geo. 2, c.8) examination; (2) precision in the visited the above named debtor at pead payment of his debts: it was therefore appears to me that any soever," and Lindley J. says should have the best you can get. That means (1) careful and expert Central, Victoria, aforesaid, and tors would get more in that way expressed in the terms calculated to prevent gambling in the public making: (3) adjustment to asked him for scrip for 1,000 than they were likely to get in any to convey to its recipients the in- funds; and notwithstanding the fizety; (4) the best of materials. shares in the China Provident other. To my mind, there is a formation that their debtor has strong condemnation in the prer All the above, the Hongkong Loan and Mrtgage Compady great difference between saying. suspended or is about to suspend amble of such gambling, the Act Optical Co., successors to Clark Limited, in pursuance of a con. If all my assets are distributed my payment of his debts.”.
itself was repealed in 1860 by 23 & Co,manufacturing and refract- tract with my firm to deliver the creditors will not get 20 in the Both of the noble and learned and 24 Vict. 28. Moreover, evening opticians, the most competent said shares to my firm on that day. pound' and saying "If any creditor Lords of Baggally. LJ. in Ex parte when the Act was in force, gambl optical establishment in South He told me that he had no shares comes to me in the ordinary curse Castler repudiated the contention and that he was bankrupt and that for payment I shall hot pay him that the declaration, cught not to ing in shares and foreign stocks Chins, located in 53, Queen's we could take his furniture and or I have suspended the payment be treated as an act of bankruptcy was held not to be illegal, either Road Central, offer you. Testing factory." This statement the wit of my debts."
under subsection (b) because the under the Act or at common law the sight and atting glasses is
their exclusive business. aess confirmed in the witness box.
Legislature has by sub-section (f) Earlier in the judgment he says provided as an act of bankruptcy (p.687). It has been held that the filing in Court by the debtor of although gaming and wagering a declaration of his insolvency. contracts cannot be enforced they'
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Mr. Kitchell, another sharebrc-|
Final Notice.
ker, in his affidavit of 29th Septem- Well, to apply that language to ber, states as follows: "On the this case, I accept the contention 26th Sept, 1922. I attended upon of the learned scunsel for the peti- the above named debtor at No. 1, tioners that an attempt to nego
DOINGS OF THE DUFFS
BEFORE WE START "TELL ME AUN WAS IT NECE 53424 FOR MS TO WEAR DRESS SHI"7"""
TO GO TO AN ARY
EXHID
THIS IS SOCIETY
AUGUT AND EVERYBODY
WILL BE DRESSED UP)
You'. SEE SONTE. WONDERFUL PICTURES
IN HERE. TONIGHT,
TOM -
I'D RATHER SEE A GOOD MOVIE FOR
MINE
Tom Wasn't a Bit Fooled.
I am clearly of the opinion that are not illegal," and he refers to in the case before me there was al Fitch v. Jones 5 E. and B. 233.
WAFT UNTIL I SEE HERE'S A
WHAT THE CATALOGUE) FUNNY ONE SAYS ABOUT IT
SELEN!
BY ALEMAN
IT SINS THAT A RUNDRED THOUSAND WOULDN'T BUN
THAT PICTURE
I BELIEVE IT »
TO DAN I
AND ľ «HE
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