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them; that is why it is in minutes.
chairman I took it to be no meeting.
As there was no
Before meeting of
21.7.28 Mr. Brewer enquired of me as to who had made
alteration as to capital in Ex.G. I told him 4th witness
He sent me for 4th witness.
Eventually 4th
had done it.
witness came.
It was after seeing 4th witness Mr. Brewer told me to write
to shareholders and convene meeting. Mr. Brewer appeared
to be displeased when he saw alteration in Ex.G. I don't remember all that happened at meeting of 21/7/28 without
reference to Ex.K. I could remember certa in things.
That was more than week prior to meeting.
I was with Co. from beginning. I know that besides shares
which were actually registered, there were applications for
shares to nominal value of about $1,133,000. So far as I
know those were genuine applications. Applications were
accepted by Co. with regard to applications for loan, I
know about these. People who took those loans were willing
to pay their calls in cash. System of these loans was
adopted was because when money was needed it could be
easily collected. It was at that time intended that there
should be a trained banker as manager; and pending his
appointment that money could remain at call. At date loans
were made all share holders were of course in finmcial
position to pay.
At meeting of 21/7 Mr. Brewer also said that auditor had
told him that it was customary amongst Chinese to frame
balance sheet as was done, and that if shareholders were
satisfied he was. The matter was discussed by shareholders
who said that since auditor says it is 0.K. it must be 0.K.
ke X. Canton and Shekki branches were open in former case
about two months, latter several months. I can't remember
how much was lost in Canton and Shekki branches. I say it
was death blow to Company because it brought a bad name to
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