1906-02-28 — Page 3

SUPREME COURT. Monday, February 26th.

IN BANKRUPTCY JURISDICTION, BEFORE SIR FRANCIS PIGGOTT (CHIEF

JUSTICE).

A.QUESTION OF PROCEDURE.

THE HONGKONG DAILY PRESS, WEDNESDAY, FEBRUARY 28TH, 1986.

out the arrangement Alluding to the notion, "ro-ergsalsation” or “amalgamation?”" is quite

His Lordship remarked that the decisions. recited yesterday showed that judges bad different opinions as to whether shareholders

should be held to know their articles.

of the plaintiffs, he would not put it so high as to say that they meant to ruin the Company if they did not got the prion they wanted for their shares. For three months plaintiff was prepared to trost the resolution as valid but finally ha Roid-perhaps not in these words I have got this control over you: I will rain you unless you Julgment was given in the action re Hanay me. His attitude was a threatening one Fak Cheung fra ca parte the Hung Yuan Bank, with a view to getting his terms. While he His Lordship aid-Thoro are two ques. aduitted it was a small point, shareholders were to be taken to know the Ordinance under which tions of some importance raised in this can, and as they word now I took time to consider his company subaists and his own memorandum thom. Dealing flrat with the peint raised under of articles. the Legal Practitioners' Ordinance, 1871, section 33, I do not think even if it were applicable to the present case it would evinò'under the order giving the solicitor a charge on the proper y

Me Bharp then proceeded to argue that the secured after it has been appropriated to another object by process of law. Now I do not think traction did not como under section 201 of that sach au order would sohiovo the eat which their Ordinance but under 101 of their own the solicitor in this case has in view. It would regulation--the ordinary power of winding up. of the undertaking was part only be applicable as between him and his The sale client, whereas what the solicitor wants is of the winding up

order in favour of his client and as the power of the liquidator evon botworn that oliout and the creditor' in the special sanction from the sheroholders but bero so if he has such sanation to sell the bankruptcy. Ile ia, however, entitle is a alurgs upon such property that is recovered | wndartaking. The liquidator under a volun out of the bankruptcy on behalf of his client tary winding up was in a better position and I asko each order, Corning now to the than an official liquidator acting ander the application under section 1 (53) of the Bank-Court, Under such a winding up the minority ́of shareholders would be obliged to fall in with ruptcy Ordinauce the position presents to my mind grave difficulties, because the words of the arrangement or have the option of taking this section are saticiently clear and this Officiel cash or anything else for their sliures. Procord Receiver could not de otherwise than report said, ho argued that the purpose of section 201 I bas done. The property of the debtor has

schemes to assist beeg preserved by the expeditious proceeding shareholders who did not desire to join the now adopted by the solicitor in attaching the pro- may and who would be compelled apart from perty and the buskrupt ostate hus benefited by that section either to join the new ompany or it. He had at the same time notics of an arsifalde act of bankruptcy committed by Lo debtor and, therefore, in the words of the rection

All

and it was, within

was under reconstruction

without

sacrifice their interests. There was no recon- struction case coming within section 201 except where the shareholder must take shares or

immaterial.

His Lordship The dimoulty I felt was whether the re-construction as mentioned in the notice that the undertaking, would be sold to the new company, and as you put it a compulsory sale of alares for cash ia possibly u re-construction.

Mr. Sharp-You can only set aside sach'n transaction on the ground that it is frandalent. The company was wound up by the consent of the majority and the liquidator was appointed. He has matutory powers and he chosen to sell

to the now company.

Hi Lordship-The progadent of re-con- traction did not contamplate that.

POLICE COURT.

Tuesday, February 27th.

Before Mr. F. A, HazelanD (FIRST POLICE MAGISTRATE),

ABRAULT.

A. Pereira was charged with assaulting the Conductor of tramear No. 10,

H. J. Gedge, sworn, said he was returning from the races on the off-day in the said ear, by which dofonilant was also a passenger. When no Arsenal Stroot ho saw the defendant run up alongside the car and my eething to the conducter, which the man

Mr. Sharp-I don't think it matters what did not apparently undersland; but he eased the transition is called.

KODAKS

AT HOME PRICE.

No. 3 FOLDING POCKET KODAK (49-12-68.) 38.00

4 CARTRIDGE

(£5-15-0.) $80,00

LONG. HING

No. 17, QUEEN'S ROAD.

JUST LANDED,

CO..

[35

SPARKLING RED BURGUNDY.

down in spead. The defendent again ap GUICHARD POTHERET & FILS. Hi Lordship-The point now is whether proached the conductor and struck him on there was ancient notice to the shareholders tho head. Witness told the sonductor to take whether the notice which was first re-sonstruction | ¡lefondant's name and address and summons was sufficient as it aft erwards turned out to be him. He also asked the defendant why he proceedings by way of sale to a now company dealt the blow, to which Poroitin replied that for cash.

there was a lady in the back part of the car who wanted to get out.

Mr. Sharp-It is not re-constraction under the Act. It is wholly independent of the Act, Tt was a perfectly propor transaction which may or may not technically bo called re-construction Continuing his argument, counsel indicated that the $10,000 paid ent of the funds of the old company to Benjamin, Kelly and Potts was for brokerage and legal and other expenses He dealt not for promotion, as stated. with the grounds of objection urged by plain tiff against the resolutions, and afterwani replied to various punts which avoso in the course of debate. The first was the mode of arbitration Although they had effered

After further evidenco had been heard, defendant was asked what ho had to say. Ho stated that he was travelling in the rear of tho car with his sistor. He got out, bat before she could the our moved on. Ho ran up and told the motorman to stop. The eur slowed down, but did not stop. Ho ran forwarð again and told the conductor to stop the ear, at tho same time topping him ou the head,

Hia Worship: 'bold that ibera was 10 justification for defendant's action, and ordered him to pay a fine of 319.

BEFORE MR. C. D. MELBOURNE (SECOND POLICE MAGISTRATE).

PER CASE 12 BOTTLES

"

"I

24) BOTTLES

SOLE AGENTS:

THE THEATRE,

YIL

$32.00

$34.00

H. PRICE & CO.,

WINE MERCHANTS,

12, QUEEN'S ROAD CENTRAL

3

The Bandmaan. Opera Company scored another succoys last night in their prosentation of "Sergeant Bene," which delighted u largo house. The piece was well mounted, and in the hauds of a strong and capable cast the amour Wong Fit and Li Ho were charged with of the comedy lost none of ita effent, Mr.

LARCENY,

THE ROBINSON

PIANO CO., LD.

THE

APOLLO

articles overroin sention 25. He has sub-matching a purso, containing $37, from s native Harry Cole, in the title role, was the mainstay PIANOPLAYER ·

of the production, and the policaman whoss lino was trafe and who horitated to strive for promotion becaase it involved "going for crime," FOR an excellent study, in

elitration they denied that plaintiff was Entitled to arbitrațiou. They might consider the mode of arbitration to which he was entitled. Upon that point ho would only observe that the mittel that in any event the resolution to wind who had just arrived from Singapore.

Inspector Warnock stated that as the mom- up was valid and the other resolutions would be confirmed. Whatever happened, the cla company plainant was walking along Queen's Roal on was in liquidation. Another point was that Monday he was accosted by the first defendant

near Ladder Street. While they were talking | Ho vas ably supported by Mr. D. B. O'Connor his Lordship could not consider the case of shareholders away from the Colony. The defendant snatched his pores and ran away, as "Michael Brue," his son, who rapa a smelt | articles provided for a ten days' notice sad thore Complainant pursued him, and as he gained on barber's shop, and by Miss Norn Morra, as who were beyond the radius of that notice must Wong the fondant throw the purse to the "Aurora," his daughter, while Miss Georgia leave attorneys. If they did not do so or thefernant who disappeared with it. The Corlas took the part of Lady Bickenuntl" attorneys declined to act, the shareholders them-

matter was reported to the Police, and later in with credit. There were some good choruses, selves must abide by the consequonce. Passing

the day the defendants were arrested. ̈ ̄ pleasing solos and Anats and savocal protty The first defendant admitted the charge, but I dancos, while the enjoyment of the piece was on to another matter, he would suggest an a proposition of law that the Court was always said the second took no part in the roblory. As suhauced by many topical allusions.

no evidence could be produced to prove that he disposed to support the majority against a

did, he was discharged. His Worship son

he was not entitled to priority of payment of his thing. Fe prima facie co was that the shareholders should get cash, but if he chose custs of these proceedings. I could; of course, not

to move in the matter he would be allowed to take into consideration the hardship if it results

If he does nothing be From the law, but I thought it adrimbla tako shores instead. to pause before deciding this case, because it would get cash-820, ns in the present case. was apparent that a very unsatisfactory stato of The crucial question was this count the present affairs would result from an adverse order in

ro construction arrang-st be carried out

this case.

Proceedings by way of attachment apart from the section f As he had pointed where there is an abendling debtor would be out in the mars road the arrangement permitted abundoned and in every case proceedings in by the section could not be carried out apart from the section. Could this be? Clearly it bankruptcy would be started in lion thereof

The liquidator could have entered We should then have half-a-dozen kankraptey end. petitions in Court. The Official Resivor him into an arrangement under which he sold the salf admitted that to support bis report he antcompany out and out at a fixed price per bare confond that bankruptcy proceedings should and that arrangement would bare born bioding have been immediately started in view of pru-on any dissentients-buling indeed upon the dissentient minority in anything the majority tenced the frat defondant to six weeks' hard eordings by writ and subsequent attachment company. The case did not fall under section was empowered to do and may havo dona irreglateur-and-sir hoars stucks. This cannot have been contemplated by thJ61, and it followed that the dissentients had nonlarly. Of course he did not admit that they right to arbitrate. With regard to the second had done anything irregular, what would happen point raised in the statement of claim that the if the plaintiff succeeded in this case? notice did not sufficiently indicate the scheme, His Lordship-Obtaining the injunction P

Bankruptcy Ordinances, because the plaintiff in this action took proceedings which the low allowed him to take. The law, in fact, gives a creditor at least twe remediios in the raw of un

by another creditor the property recovered may have to go into the common fand, but that is no reason why the orditer should less priority for his costs, which is the statutory reward of

he would say that what was required was that relics should show the general nature of the businow to bo considered. It must not to read strictly, un mons vases soil, in the way thint In ordinary business tab would

His Lordship-The nolics seems

HOW

no ro construction that I can see. The liquidators are merely to sell the old undertaking to the company and the new company is to be an in dependent boily with an independent capital. Re-construction is turning the old "greement anything about capital.

i

BOTH IN THE WAY.

Chief Euginger Jahn, of the German steamer Jenfeld, prove-ded against A. Leschou sumnou

charge of assault,

THE SHANGHAT LAND INVEST- MENT COMPANY, LTD.

The seventeenth sunnat govern wooting of und resolutions were all passed, after the this Company was held on Feb. 2nd. The

Chairman, Mr. E, Jenner Harg, had said Wo keep up or ordinary dividend and cares for- whed a substantial sum, but having mads no sales of properly during the year, we cannot offi you another bagus. When last I addressed you I told you that we fonemplated developments, and these we are carrying at which the fruits may be safely expected to It has, in fact, been a year of proparation, of

commence this year and to incrvano in those

18 A

MUSICAL TRIUMPH.

You should hear it, RECITALS DAILY.

NEW

MODEL PIANOS

BY THE MOST NOTED EUROPEAN MAKERS.

"OWN MAKE"

IN SOLID TEAK.

ENDODYING THE

MINIMUM OF COST

WITH THE

MAXIMUM OF EXCELLENCE $375 UPWARDS.

AND

VICTOR TALKING

N

MACHINES.

WITH TAPERING ARMY.

|116

A SELECT DAY SCHOOL. TIREE

Teachers and Capable Chinon

Trained Foreign Careful supervision ul individual attention

Mr. Sharp-Yes, one of two things would

The Cainf Enginoor stated that on the 26th almoonding debtor: one to proceed under the

happen. The resolution would have to be passed over again. There is no doubt about that. And when tearing his room to go on deck, Comma Code of Procolure to atisch property, If

point must not be overlooked that we are not hs met the defendant coming from the mess the other by proceedings in bankruptcy

the new company after all, dikough we aru ja root. As be wus not on good terms thors are two remedies, there cannot be only

with the defendant he went to the right to avoid to give a position to exercise control. The new com - one; and if I were so to construo the Yank

a general idea that the company is going to htpany has been registered with our consent, and noting him; the defendant altered his direc. ruptey Ordinance I should to destroying the remedy of aliachment, which is, sined thrusts netes, hat the agreement dose no. it could act independant of us. If it did we should tion and walked towards him. Witness said-Immediately following. We have added to our

be left in us awkward position. It has entered Why don't you get out of mag rund " The land by purchases to the extent of about 24.000 LATEST OPERAS & SONGS. Common Code of Procedure has baken its present seem to carry out the idea of re-construction

defendout did not reply, but struck him a blow tals We have improved our estates at a cost form, the latest iu point of time. It is perfectly The old company is to be sold to the new com into a binding agreement to buy Smith's exnces-

Hongkong, 1st January, 1905. of some Tis. 35,400 for reads. bridges, bandlings, on the jaw. He reported the matter to the orendimyo spent Tix. 1500 ou new buiklings. tran that if bankruptcy proceedings are started puuy. Tho difficulty in my mind is that there is sou from the China Commercial Company nad i

will have to carry out that agreemont. It might Chief Ooor, the police fag was hoisted and All this development is promising very well curry out the now line after all. I don't say it the defendant given in charge. Lasel was indeed and ea not fail to add materially to k would. But one of these two things must formerly second engineer, but in consequence permanent earning power. The gross rota

show the satisfactory increase of Tis. 28,300; occur. Either we pass this resolution over of what happenol at Vladivostock in Jaunary he

but, on the other hand, one working expuses was degraded, and was being returned home as a have been much heavier. With a view to gain or what would be infutely worse the new

in consequat, alse, of some changes of texascy as and do what the majority of shareholdera constantly tried to nuncy complainant. On involving redecorating, clo, bogond what is decided to prevent by agreeing to amalgamation one cccasion who with so was passing as usual. there has been some exocas in what may I subunit ales that the new company onglit to fendant's room he heard him say—” Draw the

be considered crdinary ap-keep. But beyond this we have had to west the following items; be joined in this maso,

curtain; don't let the monkeys look in."

About Tis. 4,000 in corsoquence of the typhoon In his statement defendant toki his Worin September; Tis. 5,503, repairs of a permanent ship that he tried to avoid complainant, but character which should relieve us from outing in could not as the latter always get in his way, this respect for some years to come; TI. 4 10), When they met in the alley-way complainant against fire, and of rentals

increase in taxation; Tis. 2.000, insuranc

now departure, but | pushed him and said....." Why don't you get out one that will be appreciated as giving us a of my way" Unfeant they did likewise, definite sourity of our jus sus orar 18, 6,100 from increased rates of fire insurance, sud asked a similar question, but did not strike making a total of Tis. 21,600, I should like to the complainant.

say a word as to these increased rates of fireNGLISH taught in SIX FORMA insurancs, I understand that they are considered necessary owing to the heavy losses sestained through fires in Chinese houses too often, it It is ROYAL HONGKONG YACHT CLUB, contents in their houses that loads to this, and

is suspected, caused by incendiarisza potorious enough that it is the insurance of

his diligence. It is a sand rule that, where Ly enactments are apparentiy in contradiction, company into a TEW ore. I cannot see in this company, boing in a position, might act against passenger, Daring Monday forenoon defendant keeping our properties in raally good order, assured. Both ENGLISH and CHINESE

the Court should navor put the legislature in the position of having swanted an absurdity aven through an oversight, I, therefore, hold that the words "any available not of bakruptcy" in the Bankrupteg Ordinanca cau only mean an net of bankruptcy for which thelaw provides no oth-r remedy. I am glad to say that the learned Paisus Judge concurs in this interpretasion: and the Official Rosciver also, though he was bound to miss the point. There is this unsatis factory side to the decision that there are two acts of cents with priority: those of the plaintiff in the action and thoas of the petitioning

If such a caso eraliter in the bankruptcy. should occur again the Official Receiver's attention mast be dirented to the mutton, and the Court will make such order en the hearing of the bankrapoy petition as the ens seems to requira. I, therefore, make the order, asked for.

Tuesday, February 27th.

IN ORIGINAL JURISDICTION,

BEFORE SIR FRANCIS Pracort (ChIEF

JUSTICE).

THE PEAK TEAMWAY LITIGATION.

The bearing of the notion at the instance of 1. E. Brown and others against the Hongkong High Level Tramwey Company and Messrs. J. D. Humphreyas aut Son was resumed.

Mr. SharpThat is a point I am coming to; I will explain what is re-constraction.

His Lordship That in gotting buck to the old point that the notice does not give sufficient information is to how the scheme is to be carried out.

Mr. Bharp-If your Lordship will allow me to go on with roy argument and then ask nie for

information for any points it. will, I think, by bettor: An essential feature of re-constraction in the winding up of the old company. Then the new company is formed for the purpose of carrying on the other undertaking of the old company and usually for another purpose us well,

His Lordship-I Cannot the agreement.

Mr. Sharp-It acquires the old company's buainoss

how it nequires it. It is now merely a sale of the old company to the new one.

Hia Lordship—I

cannot

500

that

نام میں

in

Mr. Sherp --Yes, for the purpose of carrying on the work. The old is wound up and sold to the sew.

After Lisin

Mr. Sharp said that, according in Buckley, ra-construction boru no fixed technical meaning, but the most essential part of a re-construction ar.was the formation of a new company to take over H. E. Pollock, K.C., appeared for the plaintiffs. the assets of the old ono.

He was instructed by Mr. Geu. Hastings (of

His Lordship-Plaintiff asks for an injunction to prevent the resolution being carried out, and yo way the new company should have bees joined ?

Mr. Shur-Yes.. He added that to set aidé that reintion would be sutting site the agrument, and that could not be done without the neir company being before the Court, Douling with the personal aspect of the enge, ke pointed out that plaintif know about the scheme before Lo attended the meeting, because he reforred to newspaper articles on the subject and discussed it in detail If there was any insufficiency in the notice, the plaintiff failed on that ground. He acquiesced in the validity of the resolution and cover suggested it was invalid oatil he failed to got out of the liquida. tors the $325 per share which he wanted.

The Court rose at £20,

"MISCHIEVOUS INTERFERENCE."

His Worship hound defendaut over in the sum of $100 to keep the peace for six months.

EIGHTE CLUB RACE.

Championship Class.-This mee was sailed on Sunday last in a streng wind, Dione had the bad luck to touch: Lyonun Beacon in ropud- ing. Elspeth wou very easily.

Elspeth...

Vernon...

Dione...

10 90 15

} 13 disqualified One Design Class.--This was sailed on a provicus Sunday by matust consent. As there was no starter, times were not taken, bat In reference to Mr. Douglas Story's telegram Kathleen won quite easily on a fakey day, to the London Tribune as to bis having received

Order of finish-Kathleen, Colleen, Miz and from the hands of the Emperor of Cures a protest against the action of Japan and a Bonito

emand for a European protectorate, similar

Handiosp Claes-Mastor. Slude was

un

admitted.

taught. Sperial attention given to Conver. entional English Only a limitel number can be ROOM for ONLY & FEW SEATS MORE.

Apply ut once to Chinoss Y.M.C. 26, De Vorex Rand, Central

F. U. LEISER, Head Master,

Hongkong, 6th February, 190

ASSOCIATION.

>

SCHOOL.

1:58

NIGHT

BUSINESS COURSES A SPECIALTY.

Careful inspection of all work,

SIX FOREIGN TEACHERS. TWO CHINESE TEACHERS. Opening from 1st Murah, 1906, For farther information call or write THE HEAD MASTER, Chinese Young Men's Christin Association, 26, Des Vosur Road, Central, Hongkong. Hongkong. 15th February, 1986. [416

COLD STORAGE.

HE HoveRONG IOD COMPANY, LD

have now 40,000 Cubio fout of Cald Storage available at EAST POINT. Sters will bo Open at 10 AM, and 4 P.. daily, Sunday xcepted to receive and deliver parishntle goods.

WM. PARLANE, Manager, Hongkong, 18th Novambar, 1901. [47

PURE FRESH WATER. *·.

THE HONGKONG STEAM WATER. BOAT CO., LD, în prepared to supply ANY QUANTITY PORN FRESH

Boilere.

the office of Mr. John Hastings) in the interests a re-ccnstruction without section 161. In Palmer! Washington, the Jopru Daily Mail mys that fortunafely prevented by his doctor from sailing to say, beyond that the appropriations sanctioned WATER to the Shipping, both for Deck and

it would appear that the ke competition for some indiference this class of business tead

The insvitable ns to the selection of risks. wo find in the frequent fies that occar; and because of the hazardous nature of thes riske on "

"coulents," the houses themselves ars charged with enormous premin. The system seems entirely ivoritable, and it is surely time that the saddle should be put on the right

con horse that the recklas insuring of tents" should be discontinued, and that the. owners of contents should be made to bear the burden that belongs to them, while house owners should be charged a reasonable in Jaitimate rate on their buildings To return to the sc cunts the working accourts shown an increas

Charges account," wainly due to passages of the staff. On the other hand, saluring and directors' fees are almost correspondingly lese. As to Profit and Loss account there is nothing at the last mesting have been made. The Rosorve Fund, as you know, is built up from and stands at the substantial sum of Ts. the interest accrued from undeveloped estates

928,813.03 sad the Special Reserve Fund, intended for the equalisation of dividends, bas Tls. 170,000 to eredit for use if occasion should arise. Referring to the balance sheet, you will find some changes in and additions to the various estates, which have hem folly dealt with in the Report, but in reference to

I should No. 16. on Ferry Road,

say this newly-acquired are dividing up

property into small lots for sale, believing that we are, in this way, offering a convenience to some of our The Hongkong Observatory yesterday issued shareholders and others who may desire small the following report:

holdings, facilities for mortgage and building On the 27th at 12.15 p.m.-The tarometer on

on sach

The amount of our mortgages, Returns from the greater part of the Tis. 1,658, 60, is rather less than last year. stations are entirely lucking.

They are all profitable and are wall covered. Anticyclonic conditions apparently prorail As to the current year, I may say that with an expected over the N. part of the China Bea. over China, and strong monsoon Way

bo increased rental account and, I hope, a reduced proportion of working expenses, our accounts Forecast:-Moderate N. winds; fair.

for 1906 should show improving results.

His Lordship asked if it were possible to have action having been taken by Mr. Halbert at

it is possible to make exonses for Mr. Story, at the last moment. His crow, Capt. Ward it was laid down that there were the follow who does not know much about Far Easter therefore, took the tiller, and came in first

The first was by affairs, bat Mr. Hulbert has lived a long tims Not being a member of the eivb, his win eanut ing modes of ro-construction. spesial act of Parliament, the second by means of in Corea, and the Mail asks:-

What Tatare dous he foreses for that count for marke An objection against Gloria country if it be removed from Japan's protec starting was not sustained. torate Doos be imagine that it can stand along or does be desire to see Secal ones again restored to its old wefter of international in-

a

sale sanotioned by the Court, and the third by voluntary winding up and proceeding noder section 161; the fourth by means of an

of plaintiff and by Mr. C. D. Wilkinson on behalf of the other dissentients. Mr. B. H. Sharp, K.C., and Mr. M. W. Slade, instructed by, Mr. Harston (of Messrs. Ewens, Harston and Harding), sppeared for the defondants.

Mr. Sharp, resuming his address, said he proposed to deal with the law and reply to the exchange of shares followed by a voluntary points raised by the plaintiffs.. Referring to winding up, the fifth by means of a sale before the retico convening the mosting, which was winding up to be paid in shares of the new said by the other side to be fundequate, they company.

made two answers, If the transaction camo Mr. Sharp-Supposing thero bad beau as under section 201 of the Company's Ordinance, [allusion to shares here and that it was wound it was enough that it should be indicated the up and a liquidater appointed, who sold the

trigue? Does he care anything for the welfare of the Coreans themselves, and does ho iranging fur one moment that their bappiness would he better promoted by remaining under the administrative sway of the Min's and the Li's who have hitherto edified the world by their corruption and oppression, than hy passing ander the direction of a statesman like Marquis Ito, and by being brought within full range of cannot but call the action of these agitators simply mischievous interference calculated to work incomparable mischief did thore not stand between their giddiness and practical results

of Europe and Americn.'

Corrected.

Alannah. 1 30 3 Gloria

1 37 37 Chanticleer. 1 35 54 Doreen

2 6 3

1 .1

50 42 (1) 31 19 (2) 3 (3)

WEATHER REPORT.

2

that we

Call Flag W.

J. W. KEW, Maunger, Hotel Mansions, 3rd Floor, Hongkong, 8th Angust. 1065. 2807

THE EAST OF ASIA.”

(Published Quarterly.) CONTAINING Articles of Special Interest Profusely Illustrated, descriptive of the people, customs.'&o, of the Far East,

The kindly Press criticisms, both Continental and American, that the production of this Magazine has evoked is eloquent testimony of

$1.50, On Sale at "NORTH CHINA HERALD

OFFICE. Shanghai; Masses. KELLY & WALSH, Hongkong;

Price

Bection need not be namod Counsel read us dertaking to the new company simultaneous the enlightenment reprosoated by Japan? We le continued to rise on the 8. coast of China.pany ifpertise being afforded by the Com the sterling merit of the polisation.

judgments in support of his contention, and y crested for the purpose. It does not matter said those showed that the notice would bare what the precocting is called. It is a legiti- been good if it had given notice that a mate transaction which would result in the new rosolation would be passed and that authority company carrying on the Lusiness of the old,

Whether it is called "re-construction,

would be given to the liquidators to carry

that fortunate bulwark, the solid common-sense

and all leading Booksellers in the Far East,

Hongkong, 3rd February, 1903,