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2-
Not attached
A.
1.
An interim report dealing with the position with
regard to the s.s. "Ling Nam" was submitted on the 29th
November.
With reference to the shortage arising through the failure of the Auctioneering & Brokering Co. Ltd.,
(in this report referred to as "the Company") to pay into
Court the proceeds of sales by auction conducted on
behalf of the Court, it is proposed to deal with the
matter under the following heads:-
·
1. The number of sales in respect of which default
has been made, the sums involved, and the incidence of the
default.
2. The circumstances in which the Company came to be
employed to conduct the bulk of the auctions carried out on behalf of the Court from June, 1925, to August, 1926.
3. The failure of the officers of the Court to notice
default in payment and/or take steps to remedy the same.
The number of auction sales in respect of which the Company has failed to pay into Court the proceeds of sale is, according to the investigations conducted by
Mr. Dallin, 128. The amount involved is $29,897.45.
These figures are accepted by the Registrar and
the First Bailiff.
Mr. L.E. S. Hodge, writing to the Registrar on
behalf of the Company, admits liability for "not less
than $25,000."
A list and surmary, prepared by the Assistant Auditor, is attached.
The amounts in respect of which default has been made may most clearly be summarised as follows:-
Sales on Distraints
"Executions...
" of stoes ex s.s. "Ling Nam" * deceased persons' effects
$15,024.91
12,959.30
•
1,723.83
189.41
$29.897.45