CO129-508-5 Supreme Court of Hong Kong- slackness of registry accounting methods 28-10-1927 - 23-4-1928 — Page 61

-

2-

Not attached

A.

1.

An interim report dealing with the position with

regard to the s.s. "Ling Nam" was submitted on the 29th

November.

With reference to the shortage arising through the failure of the Auctioneering & Brokering Co. Ltd.,

(in this report referred to as "the Company") to pay into

Court the proceeds of sales by auction conducted on

behalf of the Court, it is proposed to deal with the

matter under the following heads:-

·

1. The number of sales in respect of which default

has been made, the sums involved, and the incidence of the

default.

2. The circumstances in which the Company came to be

employed to conduct the bulk of the auctions carried out on behalf of the Court from June, 1925, to August, 1926.

3. The failure of the officers of the Court to notice

default in payment and/or take steps to remedy the same.

The number of auction sales in respect of which the Company has failed to pay into Court the proceeds of sale is, according to the investigations conducted by

Mr. Dallin, 128. The amount involved is $29,897.45.

These figures are accepted by the Registrar and

the First Bailiff.

Mr. L.E. S. Hodge, writing to the Registrar on

behalf of the Company, admits liability for "not less

than $25,000."

A list and surmary, prepared by the Assistant Auditor, is attached.

The amounts in respect of which default has been made may most clearly be summarised as follows:-

Sales on Distraints

"Executions...

" of stoes ex s.s. "Ling Nam" * deceased persons' effects

$15,024.91

12,959.30

•

1,723.83

189.41

$29.897.45