1912-06-26 — Page 3

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SUPREME COURT.

Tuesday, June 25th.

IN ORIGINAL Jurisdiction. BEFORE THE CHIEF JUSTICE (Hon. Mr. REES DAVIES, K.C.)

P

THE SIAK INDRAVOERA CONCESSLONA 1.IMITKO.

An interesting case was heard in which Dr. Nijhuis, of Shanghai, made an application for an order setting aside the resolution for voluntary winding up of the Sink Indrapeera Rubber Conces sions, Ltd., passed by a general meeting

of the shareholders, and for an order for the compulsory winding up of the com- rainy:

THE HONGKONG DAILY PRESS, WEDNESDAY, JUNE 26rg, 1912.

Laer, or that he had made any false pretence whatever with regard to the Rule of the property, and asserts that he is the only person who can legally effect the sale.

LETTER FROM JAPAN.

[From Our Own CorrespondenT.]

TOKYO, June 9th.

WILLIAM ARGHER IN TOKYO.

HASTERN BANKS.

RUSSO-ASIATIC BANK.

made upon him, he ought to read what the learned judge in Shanghai decided in the cases tried there. He said: “I-do- not wish to part from this case without. recording my sense of the fairness with His Lordship, interrupting the peti-which Mr. Bingham, the liquidator of lioner when reading his reply to Mr. the Siak Company, han laid everything | London dramatic critic, and famous of the Russo-Asiatic Bank held in St.

Bingham's affidavit, said-You do not expect any judge is going to accept state- ments of that kind, having regard to the finding of the learned judge at Bhaug Sai! They contain all sorts of charges of fraud and criminal offences. Do you expect any judge to accept these, having regard to the recent finding of the Shanghai Court, which I have carefully

read1"

before me."

His Lordship said the petition winst He did not think any be dismissed, Court could arrive at any other conclu- sion, Tu set aside the resolution for voluntary winding up, which was arrived at by a meeting of shareholders of the Company, it was essential to show that it was in the interests of the creditors, or that such resolution was arrived at by fraud, or that it was wholly against the interests of the Company. Various allegations of fraud had been made by the petitioner. Many of those allega- tions were of a strong character and made from should only have been charges of fraud. It is a most extra-absolute proof. He was quite sure that ordinary proceeding, and perfectly for cign to & Kritish Court. Go on You can read it, but you can't expect me to attach any importance to it.

The Petitioner--Your Lordship, the judge has not read-

In accordance with a resolution" passed at the general meeting of shareholders Petersburg in March, 1912, the Russo- Asiatic Bank has offered for subscrip-. tion. 55,833 shares of. Ths. value at the price of Rs. 281.25. These shares will participate in the profits of the whole year of 1912.

187.30 face

40,000 shares are reserved by proler- ence to actual shareholders, in the pro- portion of 3 new shares to every 14 old shares.

13,333 shares are reserved by prefer- ence to holders of Founders' Certificates: of the lakse-Chinese Bat

Applications for shares should he sent to the Russo-Asiatic Bank, Shanghai, accompanied by payment in full at the rate of Rbx, 991.25 per share.

Subscriptions were to clow at noon on the 1st inst.

The petitioner conducted his case in

His Lordship-I should have been very person, while Mr. Eldon Potter, instrucmuch surprised if any learned counsel ted by Mr. Steavenson of Messrs. Deacon, had appeared for you here to-day on Looker & Deacon, appeared for the such an affidavit. It is simply a mass of respondent, Mr. J. E. Bingham, the liquidator appointed by the company.

Petitioner in opening read affidavits, in the course of which he said that bet was the creditor of the Siak Indrapora Rubber Concessions, Limited, for a very farge susa, as had been alleged in his statement of claim filed in his action union the Companies Ordinance of 1911, evidence. Whether the petitioner was or of art out of their own country. Very reserve again receives Tls. 50,000, while

Petitioner, having finished reading the affidavits, said his petition was based

section 3.

?

No. 73 and in his petition in the above inentioned matter. On January 8th, 1011,

His Lordship afore you expect me to an extraordinary general meeting of the entertain this petition you have got to shareholders in the Siak Company was show ny a strong claim to have this order held, of which notice had been given to set aside, that you are a creditor of the all shareholders except to Johannes Company, and that it will be to the Lucius Van Laer, & registered share-interest of the creditors as a whols to set holder of 25,000 shares, and which notice aside the voluntary winding up and have had been given for the purpose of con- it wound up compulsorily by the Court. sidering and if thought necessary pass-That is what you have to show me.

Petitioner added that this petition was 'ing the following resolution :-"That the company be wound up voluntarily and in connection with several actions which thut Mr. J. E. Bingham, of Messrs. Lowe, he had brought in that Court. He pro Bingham & Matthews, of Shanghai, be,corded to outline the causes leading up and is, appointed liquidator for the to the action.

At the His Lordship You are going into the purpose of such winding up."

I don't see how that meeting, however, the chairman separate-history of this case, ly put to the shareholders the two affects the petition. following rosolictions :--

The Petitioner-I have to prove that I- am a creditor.

(1) That this company be wound up

Bis Lordship--You are now going into voluntarily.**

Which resolution was carried unani-the history of the action. What you should do is to give me reasons in sup- mounly.

(3) "That Mr. C. H. Roll be appoint-port of your petition that the voluntary ed liquidator."

winding up should be set aside

The Petitioner-If your Lordship accepts it that I am a creditor I can pass

to my next point.

His Lordship--In view of the finding of the Court at Shanghai it will be difficult for you to prove that you are

creditor of the Company, especially when these outstanding liabilities against you are considered..

This resolation was carried by « show of hands, but was afterwards lost on a poll being taken on the demand of the petitioner, whom the directors had made believe was still a shareholder on account of the 25,000 sharra, though he had duly applied on September 26th, 1910, for their transfer to Johannes Lucios Van Laer, the transfer being registered on October,

Mr. Putter-Here is the account be- 10. Petitioner verily believed that the anid resolution for the winding up of thetween the petitioner and the Siak company was invalid. Continuing, the Estate. petitioner claims that Mr. J. E. Bingham. is liable to the Sink Company for it. damages to the extent of more than Tis. 100,000 suffered by the company through his misconduct, as he in his capacity of liquidator falsely caused the transfer of three Jeshold properties with annexes, which he knew the Dutch Company had already sold to another Dutch Company as security for a debt The and was bound to deliver them. liquidator neglected to sue three direc tors of the Biak Company who authorised the issue of a false prospectus, for The damages suffered by the company- liquidator has at present in his possen- aion about 390,000 trels cash, and 500,000 His Lordship-I am not going to re- -bearer bonds in the mid Dutch Company view his judgment. I have no power to

which he caused to be worthless and be--də it. intends to distribute the cash assets as soon as possible. Petitioner verily be lieves that his interests as creditor will be strongly prejudiced by Mr. J. E. Bingham remaining in the possession of the assets of the company and that it is very urgent to prevent the distribu- tion thereof to the shareholders.

The Petitioner—Yes.

The l'etitioner--I was so astonished to have such a finding on the facts.

its

· William Archer, the well-known

translator and interpreter of Ibsen, who has been in Japan for a month, leaves in a few days for India, where he will visit his brother. During his stay he has been entertained lavishly by the dramatic reformera and literary men of Tokyo. His address at Waseda University on the Fature of European Drama was one of the most interesting and instructive lectures ever heard in that institution. In giving his hearers some advice si to the improvement of the Japanese drama, Mr. Archer said-1 want to warn you against adaptation. To take a European theme and make it Japanese, it is doomed to failure. It is a mistake to consider that drama should be international and counsel 110

would support such ́an)] nucasured by how it can be played all over affidavit in Court. on behalf of a client the world. Drama is the product of its unless he had very strong grounds for native soil Except Ben and Shakes-

his believing in

In accuracy.

peare there are no others who really not transcond the frontiers. In general plays opinion, such allegations should have been made except upon the strongest become curios rather than living works

was not a creditor he was not called upon interesting and very instructive they are, to decide. The account between the but not living. An adaptation is neither partics had been put in and proved by ash, flesh nor fowl. The English stage the learned Judge who tried the case in once suffered from an overdow of French Bhanghai, and so far from the petitioner plays which was greatly detrimental to being a creditor of the Company he was the English drama, and the English a debtor. He supported the resolution public came to forgot that drama has an for the voluntary winding up that was intimate relation with national life and passed on January 6th, 1011, and his that it should not be a bastard form. It petition to set aside the voluntary, wind- | is difficult for one nation to play the ing up was not made until quite recently; dramas of another antion. Even between in fact, it was filed on May 10th. That America and England, two countries was to say, he now wished to have the speaking the saine language, there is but voluntary winding up set aside and thea sinal proportion of English plays proceedings started de noro under the which go home in America, and few direction of the Court upon the ground American plays that are relative to that the proceedings were invalid be- English life. Japan has much to learn cause, in fact, he was not a registered from European drawn in selection and shareholder. He (his Lordship) con-

compression. sidered the grounds the petitioner had

The craze for the translated play still shown were such as on which counsel

continues in Japan, and within the past could never have succeeded.

The petition was therefore dismissed, few weeks many Western pieces have been The and costs allowed against the appellant.

The petitioner was about to address his given with more or less success.

presentation of Sudermann's Magda has. Lordship again,

His Lordship--I have given my judg-created a large amount of discussion. Dr. Tsubouchi, who is the foremost ment. I do not think your mere state- meat of account in the affidavit is cient to justify any allegation of IN BUMMARY JISDICTION. BEFORE MR. H. H. J. GourERTZ' (Puisse Judge).

CLAIM FOR BOARD.

Karl Offer, of 6, Des Veux Road,

a

MAGDA IN JAPANESE GARU.

whoa

for 1911

DEUTSCHE-ASIATISCHE BANK,

The Deutsch-Asiatische Bank reports a net profit of Tls. 494,438, against Tls. 794,563 for 1910. The special

Tls. 376,000 are to be paid as a per cent. dividend, against 8 per cent. (equal to Tis. 600,000) for the previous year. The unfavourable Anancial result is mic. to be a consequence of political dis- turbances, which had an unfavourable effect on the commercial situation of the A large number of banks in country. consequence of the ruling distrust were

INTIMATIONS

SUN PILSENER

BEER.

Nothing like it.

OBTAINABLE EVERYWHERE.

H. RUTTONJEE

& SON,

133

deprived of money deposits, so that bank- ruptcies followed. Hankow was most WINE & SPIRIT MERCHANTS. influenced by the general situation, and the company has there suffered many and large losses, through native banks, so that heavy rebates have been necessary. Also at Tsingtau and Tuinanfu the bank had heavy losses. On the other hand, East very prosperous, India has again bet and the bank's branch at Calcutta has brought very favourable financial re- sults. In Japan the competition of the native bunks was very much felt. The coalfield in the. Poshan valley has de veloped in quantity and quality, but the work in the Weihsien field will probably be restricted. The paid-up share capital remains at m.7,500,000, and the reservo fands stand at 11.754,807, while the special reserve amounts to m.846,193, against m.596,198 in the previous year.

Chs. J.

Gaupp & Co.,

ALEXANDRA BUILDINGS,

CHATKE ROAD.

stock of

SCIENTIFIC AND

SURVEYING INSTRUMENTS Transits, Levels, Plane Tables, Prismatic and Sight Compasses, Hand Levels, &c., &c.]

also

INSTRUMENTS AND MATERIAL

the AGENTS FOR--

W. F. STANLEY & Co., LTD,

LONDON.

E. R. WATTS & SON, LTD., LONDON.

THE BANK OF INDO-CHINA.

The manual report of the Bank of Indo- private company of his own

China constitutes an interesting com- suth-dramatic reformer in this country, has a

Refer- fraud. speciality it is to give Western transla ercial review of the past year.

tions. This company gave Magda with ring to the shortage of the rice crop in marked-uccess... Miss Matsui, who under Cochin-China, the report points out that Always have on hand a very large complete the guidance and direction of Dr. only 659,000 tons were exported, against Tsubouchi has gained the reputation of 1,300,000 tons in 1910. Thanks to the being the leading actress in Japan, action of the Government in stopping the played the turbulent heroine well, and export of rice for a time from Cochin- showed a decided improvement in China and Tengking, a grave crisis was emotional work. The company after a avoided. This state of affairs naturally elaimed from Max Gielow olius Storbeck,

run of ten days was to have gone to influenced the commerce of the colony. The Potitioner-I know nothing about

a clerk in the employ of Messrs. Sander, Osaka and Nagoya, where the piece was The purchasing power of the natives have been given. But the police being reduced, the sale of tissues and Wieler & Company, the suni of $225,uthorities stopped in and prohibited the objects of first necessity notably declined, Mr. Potter-The judge went through bring amount due for board and lodg play from further presentation on the as niso did the Customs receipts, and the petitioner's account item by item andings from January 13th to April 1st at ground that Magda's disobedience was the liquidation of engagements became

therefore not in accordance with the which is suffering from the effects of a DRAWING here is the result certified by the the rate of 800 per month. Plaintiff ap- contrary to Japanese morals, and was laborious. The situation in Cochin-China, ancient ideas of filial piety which forms bad crop and is threatened by an equally Registrar of the Court at Shanghai. No peered in person, and defendant was re-

one of Japan's strongest national ideals mediocre one in 1912, remains rather pre- vouchers were subraitted, and the account presented by Mr. Shenton.

Plaintiff, having made his statement in The authorities had read the play before carious, especially for Chinese trade. in filed by him was disallowed. So far from

support of the claim, said in cross-ex-giving it permission to be played, but Tongking the year shows new and sen-

Seales, Inks, &c., &v.). the petitioner being a creditor he was a

amination that he took the defendant, they did not realise that there is a vast sible progress. The two ries crops there ( Squares, Set Squares, Straight Edges, difference between reading and seeing the were satisfactory as a whole, and exports large debtor to the Siak Estate.

The petitioner submitted arguments in who was stranded, to his rooms and that interpretation. They thought, also, that reached the figure of 100,000 tons, an support of his claim.

he slept on the sofa in the day room, as it was a foreign play it would he like crease of about 30,000 tons on

carried on this His Lordship Did you offer all these Ho was claiming what seemed to him a watching a fire on the other side of the preceding year. The writers express the

influence upon a Japanese audience. But tion and other works are arguments before the learned judge at reasonable amount for what the defen river and that it would have very little opinion that when the necessary irriga dant had received. He told the defen- the play made such a stir that they had country will have a rice export approach Shanghai ?

the maize crop of Tongking was less, dant to go the German Consul and ask to a change of heart. Their action raised ing that of Cochin-Ching. Further, if storm of protest in all quarter, there was an appreciable rise in the ship- be sent Home. This he did, but returued very indignant with the Consul who told especially from the leading literary men ments of oil, cement, and zine and tin ul Tokyo, in consequence of which the ores. The position of the European trade, him he ought to do his term of military authorities were obliged to hedgn and to both import and export, sensibly improv service, A letter was submitted in which demand that Magda should be made to ed in the course of the year, whilst native-45 it was written that defendant might have relent and ask her father's pardon for trade shows marked advance. Industrial secured employment with a certain firm her disobedience and that all lines con-affairs in general have also developed As regards had not plaintiff drawn attention to his trary to filial piety should be struck out in an appreciable nianser.

before the play could be presented again! Cambodia, and Battambang, the drought. knavish character.”

The mutilated play is to be produced seriously compromised the receipts. De spite the obstacles in the way of rice in Osaka this week.

shipment, the export of Annam show A CONFUSION OF THEATRICAL ELKEEN TH

both to France and other progress, At the Imperial Theatre in Tokyo there

countries. The silk-producing industry is now running Bijornson's Marriage tends to develop. Despite the effects of Plaintiff-You must prove that, sir. The petitioner replied that there were Mr. Shenton-I don't think there will Question, which is called in Japanese the poor rice crop in Cochin-China and Shinfufu. The players are poor and the the deficit in opium sales, which fell from of Mr. Bingham in reply to th many reasons why the order should be be any difficulty in doing that.

Plaintiff admitted that the defondant piece is not well interpreted, the clash 107,000 kilos, in 1909 and 75,000 in 1910 foregoing denying that the petitioner set aside. He proceeded to argue that

manners of the Japanese and the people Indo-China closed with a small credit But balance, and the reserve funds still is a crediter of the Siak Company he was one of the largest shareholders. has offered to pay him $125 for two being very apparent between the natural to 60,000 kilos., the general budget of It is nor has he any lien on their assets. If he was not a shareholder, Mr. Bing- and half months' board at 850 per month they are attempting to represent. By virtue of the judgment dated March him could not be the liquidator, because by monthly instalments of 825, but he the play is an antidote to Magdia in that amount to more than 26,000,000.

the motive is the devotion of a young none the less true that the budgetary 97th, 1912, of His Britannic Majesty's it was he who had appointed Mr. Bing-

woman to her parents and her disregard situation of the country requires the Mr. Shenton I suggest that 850 is a

for her husband and her duty to him. utmost prudence, and without a reduction Supreme Court of China and Corea in ham as liquidator. Shanghai, it has been found upon taking

very reasonable sum for what Mr. Gielow This piece suits Japanese ethics well, but of the crushing military contribution it it is doubtful if the impression the actors does not possess sufficient reserves to received. the accounts, directed by the judgment,

Plaintiff I don't think so. Otherwise gave was strong enough to make everyone guarantee the new loan of 1,00,000,000 that the said Gerrit Yan Nijhuis is in-

in the audience understand what it was that is so necessary, particularly for I would have accepted it.

Another novel offering at irrigation works and the creation of con debted to the Siak Company in the sum

Defendant said that he as engaged by all about.. of Taels 98,437.80 and Guilders 10,780,-

Petitioner proceeded to show that he Charles E. Etti as assistant on agree-present at the Imperial Theatre is munications to the mining centres

ment that his expenses were to be paid Shaka, an opera. The loading singing Tongking and the regions suitable for and further that he is able to pay the "was a cruditor.

at he was to receive £10 per month rule is taken by Madame Shibata, the nibber-growing in Cochin-Chins. costs, which have been incurred by the.

Bis Lordship-Assuming you are He arrived in Hongkong in October last prima donna. of Japan. The piece was report-goes on to record the serious liquidator in the action brought by him creditor, it does not follow that you are and at the beginning of December Mfr. suggested from Arnold's Light of Asia, effects of the revolution on trade in Etti left Hongkong, defendant being left A German musician of Tokyo adapted China, but says there is reason to believe The loss. The political transformation which. given him, one for £100 and the other for stage setting is distinctly Indian. 220, but both were dishonoured. He was whole is a confusion of theatrical elements Chiua is undergoing is assuredly the The operations of the Bank's living at the King Edward Hotel, and had and only one of the costly theatrical prelude to an era of activity and

The financial regular and satisfactory. tion of the suit in which he stood. At to leave his clothes there with the excepinnovations which have made

At the private theatre of the Literary situation in Siam is good. As regards who suggested he should stay with him and Art Association, of which the general movement of the productive until he got a situation. Nothing was Tanbouchi is the head, Bernard Shaw's

agencies, this amounted last year to the said Gerrit law he was estopped from saying that. aid about payment. He was now earn The Man of Destiny was given this week, operations of the Bank's branches and

ing $200 per month and paid ten guineas William Archer was present at the pro-f1,463,300,225, whilst

As Napoleon is unc of the showed a total of 1.480,301,191, both sions and paid $25 per month to the Ring favourite Western heroes in Japan the figures being an advance on the previous per mouth at the Hongkong Hotel Man- tion Edward Hotel. He was willing to pay plaintif $125 at the rate of $25 a month. role of the Little General was much year. The total of the note circulation Fudgment was catered for the plain-appreciated by the audience and the whole oscillated between 183,164,000 at Decem-

highest total hitherto reached. rendition. tiff for $175 and costs, to be paid in piece was given a surprisingly good ber 31st and 1.73,337,000 at July 31st, the monthly instalments of $25.

Petitioner also read the alidavit

His Lordship-Asanming you are creditor of the Company, what benefit will accrue to you by setting aside this voluntary winding up?

Mr. Potter--The Company is actually wound up now.

His Lordship Your confidence misplaced, I suppose?"

was

The Petitioner-Yes. I did not know Mr. Bingham then.

Mr. Shenton-I put it to you that this letter prevented the defendant from get- ting the situation?

had refused.

of

The

in the waid course, which costs were tax-| justified in getting the present order setithout any money. Two cheques were the score from European operas, and the that the Bank-is-safe from any serious

ed on May 9th and allowed at 97,518.85.asid.

Defendant denied that he was neglect- Mr. Potter, in addressing his Lordship, ful of his duties as liquidator of the commented on the unreasonableness of company and stated that he had been the petitioner's present position. He said

their gress.

put to considerable expense and litiga- he was not a shareholder and yet he the German Club he met the plaintis appearance at this up-to-date playhouss, agencies at Singapore and Bangkok were

tion in Shanghai and elsewhere by reason carried a resolution at the meeting. In of the action, of

Yan Nijhuis and covering a period it was an element of law that a man from his appointment va January 96th, 1911, up to the date of the affidavit. could not approbate and reprobate. The petitioner said in the same breath, "I am He further denied that he had attempt- a shareholder" and "I am not a share ed to conceal the facts regarding the holder." In fairness to Mr. Bingham, transfer of 25,000 shares to J. L. van considering the attacks that had been

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