1938-12-05 — Page 20

IO DAYS

5 DAYS

ODAYS

GoEMPRESS to America, Europe

Victoria Arrive

Hong Shang- Naga. *press Kong haf ooki

Yoko

Leave

Arrive Leave

Kobe

Lente.

Hannly'.

Leave

Van. PARVAT

Canada Dec. 9

Dec. 11

Russia

Japan

Dec. 23 Jan. 24

Dec. 25 Dec. 27 Jan. 26

Dec. 14 Dec. 16 Dec. 23

Dec. 29 Dec. 31

Jan. 29 Jan. 31 Feb. 6

1

Dec. 28

Jan. 9

Feb. 11

BOOKING PLANS FOR 1939.

*****

ARE OPEN-

MAKE APPLICATIONS EARLY

to secure accommodation desired.

Air-conditioned equipment on C.PR. Truns-Continental Trains. Frequent Canadian Pacific Atlantic sailings to European porta.

"TO" MANILA

Empress of Russia on Thursday, December 15th.

Canadian Pacific

Union Building

ESPANS THE WORLD

Telephone

20752

G. FALCONER & CO. (HONG KONG LTD.) WATCHMAKERS & JEWELLERS, DIAMOND MERCHANTS,

"

UNION BUILDING (opposite G.P.O.)

Agents for:-ADMIRALTY CHARTS. ROSS BINOCULARS and TELESCOPES, KELVIN'S NAUTICAL INSTRUMENTS, ENGLISH SILVERWARE Direct from Manufacturers.

High Class English Jewellery

THE CHINA MAIL, DECEMBER 5, 1938

MONEYLENDING CASE AGAIN ADJOURNED

LOCAL DOLLAR

The demand rate on the Hong Kong dollar to-day 1/2-7/8.

"""Spot""""Bilver Was In Lon-

-don-at 20-1/8 and forward at

10-3/8.

The London on New York rate was quoted at £U.S.$4.6812 and the New York/London rate at

U.S.$4.68-7/16.

A story of unfortunate dealings with Indian money lenders, guar anteeing his brother-in-law, and of how, when the latter defaulted,"he

The Hon. Sir H. E. Pollock, Kt.. was obliged to meet intérest pay: K. C., LL. D. will distribute the ments and was later forced to sign prizes at the Central British School other promissory notes, which re

p.m.

་

sulted in his bankrupcy was told on Thursday, December 15, at 5.80 at the Supreme Court by Mr. A. H. Roberts during the continued hear- ing of the case in Which Mr. L. R. Andrewes is applying for proof of a debt to Kartar Singh to be re- jected.

in one note.

COURT KNOWS

Mr. Fitzroy, instructed by Mr. Justice Lindsell assisted by saying C. A. S. Russ, appeared for Kartar that the court lanew that the pri- Singh and opposed the application.mary object of money lenders ^.in Mr Roberts said that he person- not doing so was to be able to sue ally never borrowed any money in Summary jurisdiction. from Kartar Singh, but his-brother-In 1986, Kartar Singh's attitude in-law borrowed $1,300 at about was hostile, witness was not.” pune- the end of March, 1981, and wit tual in payments of the judgment ness stood guarantor. The loan instalments and he threatened wit was secured by a promissory note ness to apply, for execution. for $2,600 with interest at the rate In 1938 Kartar Singh sued of two per cent, per month insert-Chanan Singh for $900 and obtain- ed in the note:

ed a garnishee order against Ro berts who had already judgment Although two per cent was men against him with regard to a pro- tioned on the note, Mr. Häll ver-missory note to Chanan Singh bally agreed to pay 6 per cent. a

guaranteeing Mr. Hall. This money month:

had been paid to court in instal- ments..

CUSTOMARY

He understood that, in spite of the rato mentioned in the note, it was customery for a higher rate to be paid.

In August 1986, Kartar Singh witness went to Canton. took out an execution warrant and

·

judgments by consent in 1935

When Kartar Singh obtained four

wit ness consented to avoid publicity. Mr. Hall defaulted and at the He had valuable clients, among end of 1932, Kartar Singh came to houses of the Colony, and he did whom were the leading. business see him. Witness was told that anot want them to know that he was Mr. Hall was not paying he would. have to, as guarantor He paid for having dealings with money-lenders. He bought the business in 1914, some time at the rate of 6 per cent. He obtained no receipts for these

and at that time employed only 20* payments. He got into arrears workers, some of whom had been with his payments and at the end with him all the time. They were of 1934 there was owing $500 made very loyal and had supported him up of amounts owing for interest financially, t

·

by Mr. Hall and his own arrears.:

}

He then signed a further promise. sory note for $1,000 to cover this. Later, he was sued on the notes and others which covered further defaulted interest, the amount now being $3,850.

SEVERE LOSS

Owing to his bankruptcy, he lost on which two valuable machines, he had already paid over 2700 on the hire-purchase system.

he

In answer to Mr. Fitzroy, Mr. He signed several notes and Roberts said he first came to know could not say why Kartar Singh Kartar Singh' in 1931 when had not embodied all the amounts went with Mr. Hall to guarantee him. No mention was made of a guarantor in the note. He signed the-note as he understood was the custom, "severally and jointly.”

INDO-CHINA

In 1981, when Hall-defaulted he continued paying interest, but not arrears, In 1935, business was not so good. He had to pay instal-

STEAM NAVIGATION COMPANY LTD ments on his machines and he was

To SWATOW, SHANGHAI AM DAPURE, PENANG

CHEFOO & TIENTSIN.

AND CALLUTTA. Hosang

Oth Dec. 3 p.m. 7/Suisung" 7th Doc. Noon

9th Dec. 2 p.m.

22nd Dec. 2 p.m.

11th Dec. Noon TO HAIPHONG

18th Doc. Noon "Norviken"

7th Deo, Noon

14th Dec. Noon end. Seun Hong

16th Dec. Noon

18th Doc. 8 p.m.

*Tal Soun Hong

21st Dec. Noon

“Kwaisang"" - 23rd Dec. Noon

* calls at Tsingtao.

To KOBE & OBAKÁ. "Kutsang" *** 18th Dec 9 a.xa. “Kumsana?! Istán. 9 n.m. STO SANDAKAN.

F7oo. 10 main.")

AR

14th Dec. Noon 17th Dec, Noon 22nd Dec. 8 p.m... 29th Dec, 8. p.m.

Kwong Chow Wan

handicapped by the interest to be paid on the money for which he had signed.

He admitted that he was forced to make some arrangements and that the arrangements with Kar tar Singh were the best that could be made at the time.

* After legal argument, the Chief Justice adjourned the care to con- elder. what was a fair rate of In- eat having regard a tó circum- nces when the original loan was

THESON& C GENERALMANAGERS

WANTED' KNOWN

ONCE A YEAR, Peking Em

Orgonitur Star Ferr duction, said for- dpkletillary, Letc.