CO537-37 — Page 499

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1

A.

Mr Lau chu Pak:-

24155

A.

Mr Shelton Hooper:-

2987.

:

My Bloga..

922 shares and you get an advance against them that does

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not appear in your current account at all. That goes into your loan account. That is a separate account, and quarterly they send you a statement of that, This was all done through the broker, so it would not appear in my banking account.

24.155

In that case, you borrowed the money from the Bank ?

I borrowed it from the broker.

24.056

It was really the broker who advanced you the money, and not the Bank.

A.

Oh no,

I dont think so.

The Chairman: -

-7

A.

I will explain the bank account to you. Each transaction is a transaction by itself. Then you may

24.157

have a savings bank account, which is a thing entirely

apart. Then you have your current account, and over

and shove that, supposing you or I or anybody else

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wants to do a business in shares or property or produce

and we want an overdraft from thu bank, you start a

loan account, and that is absolutely separate.

I never had one.

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And they render you an account each quarter, and you are charged so much from day to day, and you have to put up security with blank transfers. Fave you ever had such a loan account with the bank ?

A.

TO Sir.

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A.

PUBLIC RECORD OFFICE

Reference:-

GO. 537

37

RECORD OUT PEON OF THE PUBLIC REPRODUCED PHOTOGRAPHICALLY WITH- COPYRIGHT PHOTOGRAPH - NOT TO BE

LONDON

Well then, it must have been that your brokers were financing you.

I understand he got the loan from the bank. The shares

were not in my name. Mr Hewett rather took my breath

away in mentioning that large amount, and I merely say

it must have been in connection with those shares,

which were not in my possession.

The total amount is the amount I mentioned, and that 24.160

ia in your current account, of which you must be