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That was not in cash in my sense of the word ?
sense of the word.
Not in your
That was part of the consideration paid to you in respect of agreement A? It was part of the refund to the Company.
Shortly Agreement A (EX. NIB 21) It is correct ? This is the duplicate. On the original there is a certificate of the secretary to the effect that it is the agreement referred to in the Articles of Association.
Agreement' made between the Instone Banking Corporation of the
one part, and Instone Brewer of the other part dated 25th February, 1927.
In short - the effect of that agreement was that the company was to take over from you the benefit of another agreement
which you had entered into with certain parties for the sale of certain securities ? Three other agreements.
And in consideration of that agreement this is your cash journal page 84, on June 1st, $68,453.81 purported to have been paid? It was paid. Here is an item that proves my contention regarding cash. It proves it because I have the right to command by that agreement, cash. I only have to pay this into my account and no one can say me hay. I have a right to put this $68,000 into my pocket, is not cash.
and yet you say it
This amount you say was cash ? I had the cash in my hand and I had the right to use it.
You agree that the cash balance on 31st May the day before this payment was made to you was $9,330.00 ? It is quite likely.
-
-
when you
And the Company according to the Cash Book, had not received any cash between May 30th and June 1st say they could pay you $68,453.81? Yes, if I wished I could have put that $68,453.81 into my pocket and gone away.
This agreement of yours with these parties did not turn out as profitable as had been anticipated. The agreement you assigned for the benefit of the company ? They did not wish to work Singapore.
For some reason it was found not advantageous for the Company to take it over ? Yes.
On 28th May, 1927, you wrote a letter to the Directors of the Instone Banking Corporation of which this is a copy? (Ex.NIB 22). That is a correct copy of my letter (Read).
This is your letter? That is my letter.
That is the reply received from Mr.P.C.Leo- secretary of the Company ? That is the reply (Ex.NIB 23) received by me. (Read)
In pursuance of that arrangement was the sum of $10,000.00 in real cash paid to Li Yuk Tin ? $7,000.00 was paid forthwith, and $3,000.00 subsequently paid.
In cash? Hongkong and Shanghai bank notes that was a cash payment by me- that is the receipt (Ex. NIB 24).
28.