CO129-508-5 Supreme Court of Hong Kong- slackness of registry accounting methods 28-10-1927 - 23-4-1928 — Page 75

-

16-

75

There is no evidence that these transactions

operated to the prejudice of the Government: in fact, the moneys advanced appear to have gone towards the

liquidation of part of the Company's liability to the

Government.

It is not within the province of the Committee to

speculate on the possible effect of these transactions

in connection with any undisclosed agreement which may

have existed between the First Bailiff and the Company.

It seems hardly likely that the First Bailiff, if he

had no financial interest in the Company other than that

arising from his loans, should have made advances to help to camouflage the Company's default.

He would seem to have had no good reason for attempting

to conceal their default and on the default and as the

default grew the prospect of ultimate recovery of his

own loans diminished.

7