32.
34
2 8232.
BY R. FITZROY,
JEIE FE343 234
2.
A.
I should like to refer to the books. The agree- ment would be about April, 1927
What was the agreed price?. $240,000.00.
Where was the building?.
25, Des Voeux Road Central.
How did you manage to pay for it?.
$150,000.00 was allowed to remain on mortgage. And the baluzoeî,
we paid in cash.
How was it you left so much en mortgage?.
We paid $90,000.00 off.
Did you pay is at once?.
It was paid from time to time as called for by the bill of saï€.
was not the building the property of one of your Directors?.
Not to my knowledge.
It originally belonged to the original bank?.
Yes, it was sold to us through a broker. From whom did you get the assignment?. remember who confirmed it?.
You
icial
I believe it was from the Official Receiver. What about Lui Vai?.
I can't say without looking up the documents. Nobody has made any money out of this bank to my knowledge.
You did not buy direct from the original bank?. No.
Did not Yow Fun(?) buy it for $205,000.00 and sell it to you for $240,000.00?.
1 don't believe it.
A little later on, October, 1928, you wanted money in advanos?
After Canton and Shekki had closed dow
You haú all those advances still in existence and the only way you could raise $20,000.00 was on a mortgage on which you had to pay 24%?.
Not the only way, but the quickest way and if you will consult the Directors' Minutes, you will see that I was ordered to do it.
what I am pointing out is that these people were so wall cif and you had about three lakns still there, yet you had to pay 24% on a mortgage. (air. ever read the Minutes concerning the mortgage) After the Canton and Shekki branches were closed the only way we could collect was through the Law Courts, and that is a very slow Way'.
There is only one, Yu Ki Han, you sued. No, there were noze,
Did the arrangement between Krs. Brewer and the Bank arise through the failure of the people in payment, no doing as you expected?. When did you first know they were not going to pay?.
I should say we did not give up hopes until about January, 23.
The ucgotiations had not fallen through?,
No.
You formed the Instone Trading Company in April?. Yes.