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THE HONGKONG TELEGRAPH,
BANKRUPTCIES.
MR. NOWELL WHITE EXAMINED.
MONDAY, NOVEMBER 15, 1926.
OFFICERS INSTALLED.
ANTI SPANISH PLOT.
NEW KWANGTUNG GOVERN- MACIA AND GARIBALDI HOTH
MENT FORMED.
ARRESTED;
Parle, Nov 13, The Catalan separatist leader, Colonel Macia, shortly after his arrival to-day from Perpignan In company with a police inspector, was
confronted by Ricciotti Garibaldi, as a result of which both were arrested and sent to prison.
The Government has decided
Af a sitting of the Bankrupter.
Canton, Nov. 18: Court on Saturday the public
The new Kwangtung, Provincial examination of Mr. Nowell Bernard Government was installed in office White of the Ritz Cafe was conduct. yesterday. Impressive ceremonies od by the Official Receiver, Mr. D. marked the oath-taking by the now W. Tratman, before Sir Henry officials. There is a tremendous Gollan, K.C. Creditors present were- Messrs. Gande Price Ltd. and Mr. popular feeling of elation at the military accesses of the National Wo Hing-cheong,
Debtor said he was formerly inist armies in Klangsi during the the employ of the Hongkong and past week.
It is assumed here that Sun not only to expel Garibaldi but to proceed against him if necessary Shanghai Hotels. He left them to go to America and returned two Chuan-fany la almost completely on the charge of complicity in the years later, in 1925. He then left eliminated as a factor against Catalan plot Macia declared that the service of the Company in Nationalist domination of all Garibaldi admitted to the magis- February 1926, voluntarily. For China north to the Yangtze, An trate that he never furnished him the purposes of founding, the Ritz enormous number of Sun Chuon with money or arms, and that he has only that Cafe he was promised capital. He fring's men have begs taken added himself was to provide $4,000 and prisoners, the estimate being over met him once and another party a like amount but 30,000. It is expected that this he recruited a certain number of this never came to hand. With loss will make him powerless to Italians independently of Gard-
Just over $3,000 he started the Cafe. continue the campaign Bureau baldi. Router. Nov
Paris,
On fixtures, crockery, etc., the ex-of Information. pended $10,000 and new, mez- zanine coat between $1,000 and $2,000,
+
Questioned as to how he provided the money additional to the capital with which he commenced, witness said that he managed to pay back much of what he borrowed in the Arst few months when business was good. He had repaid $1,500 of his mother's $3,000. Round about April of this year business began to Blacken off.
F
$150 A Month. "Questioned as to the amount be took from the business for his per- sonal expenses. Mr. White, said that he only took on an average about $150 a month. With regard to the association of his brother with the business, Mr. White said that he was often pa the premises but was not actually employed. If times had remained good, the understanding was that he was to be given a salaried position...
Asked by the Ofcial Receiver whether he was now engaged in employment, witness said that he was not. He was living with his mother.
Dealing with another transac tion with which he had been con nected, that of the purchade of Blue Bungalows, debtor said that the property had been bought for $200,000 and in three weeks time the syndicate disposed of it for $488,000:
His Lordship expressed astonish- ment that there should have been such spectilation and profit made in such a short time.
#
An Absent Partner. Asked if he had endeavoured to get into touch with some of his in tirese land denle, partners debtor said that he had made a special trip to Canton for this purpose and had got hold of one of the partners in Fatsban. The man, however, bad rofused to ac company debtor back to Hongkong for the purpose of the case. The mortgages were in many cases in debtor's own bond..
Deals in property at Robinson Road on which there had been a heavy loss by reason of the slump which followed the land foom were also mentioned, debtor stating that' houses which had been erected when costs were high had had to be sold at a heavy loss.
Group Speculation.
Mr. Wong Po-keung. Astonishing figures disclosing the rapidity with which property changed hands at enhanced prices during the land boom in Hongkong were given at the hearing of the
Mr. M. K. Lo, representing Mr. public examination of Wong Po-
Ip Lan-chuen, Secretary of the keung, of No. 1, Mosque Street.,
Debtor said that he was 40 years Chinese General Chamber of Com- of age and was born in Hongkong. merce, then examined debtor as Leaving Queen's College at the age to a contribution of $5,000 which of 28, he joined the clerical staff had been paid by Mr. Ip to the Pak of the Royal Engineers and remain Yick Land Investment Company, of ed with them for 'seven years. In which the debtor had been Secre- 1914 he started the Asiatic Trading tary. Debtor denied that he ap-" Company of which he was theproached Mr. Ip and asked him managing director. It was started on a capital of $16,000 which he borrowed from his mother. Company had never been run at a profit and had done no business since the strike. It was now de funct,
The
contribute the money Con- fronted with a receipt for that amount which was 'signed by him, debtor said that he only signed it as secretary at the request of an- other interested party."
Untrue.
Knutsford Terrace Deal.
Mr. Lo then questioned debtor as In 1923 debtor began to deal, into a judgment debt for $30,000 and property, his Brat big purchase interest, made against him in the Supreme Court, and referred to being in connexion with property affidavits made in connexion with at Robinson Road and later in the case that the Hop.Yick Com- connexion with a syndicate' which
pany (in connexion with whose bought Knutsford Terrace for affairs he was served personally as little over eight lakhs. Of this the defendant) had caused repre- $520,000 was raised on a mortgage sentations to be made fraudulent- and about three lakhe' in cash...
The Official Receiver: The pro-ly to the plaintiffs, knowing the
representations to be false and un perty, when purchased by your true, and by reason of the repre- syndicate, had already changed sentations got the plaintiffs to take hands many times at greatly en certain shares for whose value they. hanced prices.
had successfully claimed:
His Lordship: I suppose this was
In answer to further questions, at the time of the property boom.
debtor said that the Pak Yick was The Official Receiver: Yes, not,
in the generally accepted. Property was thrown about at that meaning of the word, a firm or time. I believe your syndicate had
Company. It was a "group "of an offer shortly after your pur friends for the purpose chase which would have enabled speculating." Debter cou not you to clear $70,000 but you re give the exact number which made fused it as it was your intention it up.
to develop the site. That is 60.
$80,000 Loss.
*11
of
Debtor admitted that he had not
The Official Receiver: And when defended the suit. As regards the land values began to go down, one non-inclusion of the judgment ΟΣ more of the members of the debt in his statement of affairs, syndicate disappeared. Yes,
he was of the opinion that such debt was not a personal one to be In answer to further questions, included in a statemont concerning debtor said that although there bis own personal bankruptcy. wers other members of the syndi-His Lordship pointed out that. cate it was to him that the bank the judgment was against debtor. looked for payment of mortgage personally. Debtor was not a baby interest and he had had to pay out in matters of business and could something like $17,000 on this surely not have believed that he particular transaction, his total was not personally liable for the personal loss being $80,000.
amount of the judgment.
SALESMAN SAM
It is noteworthy that Garl- baldi is only charged in connection with the Catalan plot since his alleged activities as a secret Fas- est agent presumably does not con stitute an offence in French law. Reuter
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