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I've Got A Feeling I'm Falling To Be In Love Especially with you 5617 Tondeleyo (Theme Song)
Aint Misbehavin' (7'heme Song)
The Anderson Music Co., Ltd.
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THE HONGKONG TELEGRAPH.
MR. BREWER FOUND
GUILTY..
JUDGE RESERVES SENTENCE ON ACCUSED.
THE SUMMING-ÚP.
A
FRIDAY, JANUARY 24, 1930.
per share and it would appear that strictly speaking the Bank had not received $100,800 in monoy at all. ... Further with regard to the ten dollar section of the shares. The members of the jury had before them promissory notes. It would appear that in respect of these payments for ten dollars the Bank had received notes in lieu of actual cash.
رم
The shares were issued partly Mr. Noel Instone Brewer was paid up and the directors had the yesterday found “Guilty" of mak-right to make calls for the balance ing a false statement in that on at their own discretion. The direc tors purported to receive money August 16, 1927 he made
from the shareholders paid. In ad- statutory report that the total
vance of calls. They had certified cash received by the Instone Bank- that this money reached their Ing Corporation In respect of hands in cash. The question was shares fastted wholly for cash was whether it did so or not. $876,760.
The shareholders filled in cer tain forms, they obtained from the bank loans for amounts Identical with those due fa respect of their calls, they pledged their shares as security for payment of those loans and. they undertook to pay interest on those loans at the same rate as if they had paid in respect of calls paid in advance. While no coln reached the bank, the Bank documents and accepted these. cinssified them as cash.
His Lordship commenced his summing up when the Court re- sumed at 2 p.m. He pointed out that the charge was one of making a. false statement and that was connected with, or akin to, fraud. The suggestion was that the state ment was made without justifica- tion for the advantage of the Bank. While pointing out this he thought he should say at the same time that the defendant was not alleged to have been guilty of fraud on his
Hans Andersen Story, own account or for his own per-
fell The documents
into two sonal interest. Nothing had come out to suggest fraud on the de-classes." One was a serles given fendant's part but the charge as by the directars and shareholders. it stood was serious enough and The jury did not know who they one which deserved the jury's were. Mr. Brewer had suggested greatest consideration.
..that the directors were justified"In Referring to the certificate of xiving them full financial value. August 9. His Lordship said the As for the paper algned by Mrs.
whether it was a
Brewer that had also been account- question was right statement of the capital ac- ed for as cusk. They did so well count of the bank on that data. knowing that she was only a figure- The defendant was accused of mak, hend and unable to pay the amount ing the statement falsely, that was of $432,000. She was unable to to say, making. It knowingly and pay anything like that sum. that he had means of knowing that the statement was untrue, '*
J
The question was whether the jury, with these facts in their minds, were prepared to accept the statement in the report as a true statement or not. Mr. Brewer ac- cepted full responsibility for the certificate. When asked whether he would say that the company had his received $876,000 in cash answer was "Yes."
The particular statement in the report which concerned the present charge was the statement that the bank had received a total amount of cash in respect of the shares Issued wholly for cash-that the bank, had received $876,750. The Crown had endeavoured to show that that statement was untrue and Continuing, His Lordship said that the defendant made it know-ho did not wish to make light of, ing that it was untrue,
The matter but to illustrate the position he was reminded of the The Bank's History.
of the story by Hans Andersen The history of the Bank up to Emperor who wanted a new cloak. that date was all relevant. It ap-Weavers set up in the market place peared that in February 1927 the and purported to make a cloak on defendant was in possession of their looms, saying that if anyone "mado could not see it then they were un contracts. He had.
or sleepy. All pro- them with certain principals and it for office had acquired the right of selling fessed to see the cloak and when the Emperor went on his travels certain bonds.
the crowd lonked on and said what a fine cloak it was, until a small child said that the Emperor had not got anything on,
three
The defendant, and certain Chinese gentlemen, decided to form the Instone Banking Corporation and decided that the Bank should
He did not wish to suggest this Lake over the benefits of thiese agreements. The Bank agreed to in Mr. Brower's case but the ques pay Mr. Brewer a sum of $68,000tion was a simple as that. Mr. under this arrangement. The Brewer asked the jury to say that he was right in making the state Bank was incorporated, and soon afterwards an agreement between ment that cash for the amount had Mr. Brewer and the Bank was sign. been received. He also said that ed and the Bank started owing Mr. accountant could mot state it
in any other way. Brewer $68,000.
Mr. Brewer's Cake.
Dealing with the history of that amount, His Lordship said an ar-
His Lordship then referred to rangement was come to, a verbal one, by which the Bank gave up the Mr. Brewer's explanation regarding Singapore portion of the privileges why the scheme was adopted and and there was a refund of $65,000, pointed out that Mr. Brewer asked. The Bank then owed Mr. Brewer jury to say that it was not a bluff the publi $13,000. When the Company mere scheme to allotted its shares that sum appear but was something the directors ed again. The $13,000 was used wanted to do for the advantage of by Mr. Brewer to pay the first the Bank. The jury would con
own dider those matters with great care, amount in respect of his shares. As to a further $7,000, Mr. Brewer had also said that one of the directors had earned the books had been kept accurately commission from the Bank and the and consistently. He also said, $7,000 was used so that this direc- quite truly, that he himself guva tor might pay the money due on the same explanation last summer shares for himself. The $48,000 and that when he prepared a was used in respect of shares pur- balance sheet, quite
when the chased by Mrs. Brewer.
Was
·
voluntarily,
went company
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Concluding, His Lordship said of this charge. I propose radery- into Des Voeux Road. If the jury liquidation, he alated the capital in thought it was part of a scheme to the jury had to decide whether, oring sentence until a later atage Notes In Lieu of Cash," the same form. The jury would post before the world as having not, in respect of the certificate, it when I will say what I have to say and was represented that the Bank had then. Meantime, you are no longer Money which started as a debit also take those facts fully into ac- control of a large business
used for the purchase of count when deciding whether to that this step was taken to as a larger capital than it actually did on, bail." shares in the bank. Therefore, of find for the Crown or the defen-cordance with that policy, and that Mr. Brewer knew it, then in that the $100,800 on the certificate, as dant.. to $68,000 it consisted of money which first appeared as a debit and by various entries became capital. That appeared to him to be the history of that portion of the capital and it was for the jury to say whether the figure of $100,800
At the same time it was quite se Urey would be justified in ind- possible that having regard to the Mr. Brewer guilty of the
charge. iransactions as a whole, the jury
The fact was that very little might think they were done to create the illusion that the bank money, fetually came into the Bank was financially substantial. With from outside in connexion with the a small actual cash capital in hand share subscription. That the bank secured premises for over so did the jury, reading the strie That dealt with the puld up por-] $200,000 and established itself, as ment us ordinary men, think it was L'on- of the shures at ten dollars a Bank of the first importance in misleading or not.
was correct or not.
SALESMAN SAM
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His Lordship then asked Mr. Fitzroy what time would be con- Verdict of Guilty, ...
venient for the hearing of the The jury retired, at 2.40 and re-scord charge. Mr. Fitzroy Bug- gested February 3 and His Lord- turned it 3.45,
The foreman intimated that the ship concurred. jury was unanimous in its verdlet which was one of "Guilty."..
Mr. Brewer rose in his sent but did not speak.
His Lordship thanked the jury for the consideration they had given to the evidence, and said that he proposed to advise that they be His Lordship, addressing Mr. exempt from further Jury service Brewer said "You stand convicted for the next three years,
By Small
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