405
7
knowledge of the parties to whom it was proposed to be transferred.
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(9) Enquiring as to whether the Hongkong & Singapore businesses were to be dealt with separately or as one concern.
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(10) Enquiring as to the nature of the lien the Bank had on the stock. Whether any question of illegal preference arose and whether they had taken steps to satisfy themselves that the Bank's lien was a thoroughly good one.
No satisfactory replies on the above points have yet
been received.
On the 19th February 1915, Messrs Lowe, Bingham & Matthews wrote a letter from Hongkong received on the 31st March, confirming their cables, but in the letter and in the confirmation of the cables there are several clerical inaccuracies indicating a want of care,
The letter stated the assets in both places are pledged by deed with the Hongkong & Shanghai Bank to secure an overdraft of about 116,000 Dollars. That it is a pity they could not have talked the matter over with our representative, who they understood was likely to pay them a visit.
(Note.
The visit was not made because the Liquidators did not recommend it end in view of the intimation that they anticipated the Creditors would be paid in full, the Creditors did not appear entitled to move in the matter).
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