144
P.58
P.59
P.60
and signed by Mr. Brewer. At that meeting call up to $35
per share was made, and to be paid on 10/9 (according to
Ex.K). Minutes of meeting on 25.9.29 are in my handwriting.
Then a resolution was proposed by Cheung Tat Ting. Mr.
Brewer was present and signed. I remember 2nd mortgage
referred to in that resolution being entered into. I filed
the memorial. Mortgage was entered into on 1.10.28, and
terms were 2,3 per month and amount $20,000.
X X Ins tone Banking Corporation in beginning had branches
in Canton & Shekki. Those branches were closed by Govern-
ment of Canton. That is unforeseen circumstances referred
to in minutes of meeting 25/9. Effect of closing of
branches on Company's business was to slacken business
almost put a stop to business altogether; the cause of
Company's downfall. That occurred I think at end of July.
I can't remember when branches were closed; Canton one was
closed shortly before Shekki branch. They were both closed
after balance sheet. There was therefore a totally differ-
ent situation in August than there was before balance sheet
was made out.
When 4th witness was auditing books at end of May he worked
in my room, because I had an unoccupied desk in my room. I
was present while st he was doing work. I locked away books
in safe after auditing each day. I had to wait till he
finished before I went away. 4th witness told me that
alteration in Ex.G as to capital was usual way of doing it
and that it would look better. Mr. Brewer was away from
bank, I believe he was really ill, over two weeks in June.
Meeting of 18/6 I am relying on minutes in Ex.K for what
happened. I can't remember independently.
Minutes were
signed by all shareholders present and myself. Before
closing meeting shareholders voted on resolutions put to