A:20
Q:21
A:21
Q:22
A:22
Q:23
A:23
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funds for the "Ling Nam" because the matter was involved by their having already advanced large sums. Were there
any other reasons for taking no action?
At the time the arrangment was going on and no
one was complaining. I thought that so far as the ship
and the creditors were concerned no one would be pre-
judiced. The ship was insured for $250,000 and I thought
there would be an ample margin over all creditors' claims.
Who has been providing funds since the
Auctioneering Co. ceased to do so?
The A.P.C. and the Dock Co. from 27th August
to the end of October. Last month I have paid out of
the deposit paid on the sale.
What actions are there against the ship and
what is the total of the claims?
There are eight or ten actions I will supply
details. (List put in on 26.11.26). The total of claims
and maintenance expenses would come to about $200,000.
What was the date of the abortive attempt at
sale and the appraisement for that sale?
25th February, 1926. The appraisement was
What date was the last sale?
$270,000 or $275,000.
Q:24
A:24
Q:25
A:25
Q:26
A:26
1st November, 1926.
What was the appraisement and what was the
7
amount of the accepted bid?
$150,000 and the accepted bid the same amount.
Why was not the proper deposit paid?
The buyers said the money had not come. They
paid $2,000 and promised to pay the balance next day.
They have since paid a further $1,000. I gave them till
the 22nd November to pay the balance. The whole $150,000
should have been paid by the 8th November.
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