1925-03-18 — Page 5

Page

COURT OF ENQUIRY,

STRANDING OF THE FOOSHING."

VINDICATION OF MASTER AND OFFICERS

The Marine Court of Enquiry into the. circumstances surrounding the grondling of the Indo China steamer Poshing on White Rock, on February 19th, assembled at the Marine Court yesterday tuorning.

The Court consisted of the following: Lieut. Comdr. G. F. Hole, R.N., Harbour

i

LOCAL SPORT."

„LAWR, TENNIS,

THE HONGKONG DAILY PRESS, WEDNESDAY

H.... TOURNAMENT.

YESTERDAY "MATCHES.

Q MERCHANTS' BANK.

MEETING OF CREDITORS IN

SHANGHAI

MARCH 18TH, 1925

DEBTORS IN BANKRUPTCY. Exchange contracta were carried through, and resulted in net profit of over Tia 49,000, but unfortunately the The Arst meeting of creditors in the greater part of this is hold up by the com- matter of the Chinese Merchants' Back.mitments at head office sud by an action Ltd. (in liquidation) was held at H.M. which is pending in the Mixed Court. Supreme Court, Shanghai, on Open Championship Singles.-S. A 19th, presided over by Mr. D. R. Cooke, said.

March The land and building still remains un- Rujahr beat H. Nomura, 6, 6-1, 6-Ufficial Receiver,

Since the commencement of the li Capt. C. T. O'Callaghan boat H.

quidation, debtors amonating to about Yoshida, 8-4 8-4, Brit

There was a large number of creditors Pts. 50,000 have gone into bankruptcy or present, whilst Mr. H. D. Rodger watéh.liquidation, and the bulk of this amount ed the interests of others numbering 1,163.is likely to be lost. Yery Kitle security.

The following games were decided yes- Tournament!-- terday in "the H.K.C.C. Lawn Tennis

19-8, 8-8 8-

Handicap Singles "A"-Dr. T. J. Valentine (+1/8) beat W, Hyde (-3/8),

Open Championship Doubles (2nd Mr. R. Paterson, CA, of Messrs. Lowe, was held by the bank and guarantees do Round)... Razack and

Bingham and Matthews the provisional not amount to very much, thus causing Casunbhoy beat J. Takikawa and Tiquidator, was also in attendaner. Yamada, &-3, GB-t.

the book debta to be The Officini Heceiver, describing the Bank's position, said:

quantity.

Master (President), Lient.-Comir. C. R. H. Harvey, O.B.E., R.N., Superintendent of the Royal Naval Chars Depot, Capt. S. Rolinser, C.RE, master of Empress of Canada, Capt. C. 8 Isbister: Toaster në 5 Taming, and Capt. 6.0. Byers, master of aɛ, thinkin,

M..

J.

Club Championship Storles-S. E. Green beat A. K. Mackenzie, 6-0, 6-1,

Handicap Singles Bad Round). -M. M. Watson (+15) beat E J. R Mitchell (+2:8), 7-3, 6-4, 8-6. C. de Man (scr.) beat Lieut. Col. E. 1. Matthews [(~978), 0-9 8-2

TO-DAY'S GAMES,

The following games are down for de eixion this afternoon:-

Rumjahr. D. J. Affrer: D. S. Green Open Championship Singes-H. D.

1

a very doubt/ni

Advances appear to have been' made to many people, who should not have bad them without affering substantial security or guarantee and, in consequence most of the now remaining debts entail an im mense, amount of trouble in collection,

which collection consequently can only proceed at a very slow pace. The policy of the bank evidently was to obtain a footing in Shanghai the best way they

It has been

correspondence is necessary before all past- arily take a considerable time and much ters can be finally settled. impossible to keep on the bank staff, as they have all drifted away to permanent, positions, and some have left Shanghai.

THE POSITION. As you are doubtless aware this is a Mr. F. G. Vaux appeared for the

British bank and is what is known as a Master, Mr. R. E. A. Wehster represent

Hongkong China Co., meaning a company ad the indo-China Steam Navigation Co.

incorporated under the Hongkong Or- and Mr. G. K. Hall Brutton appeared Ine the China Coast Marine Officers' Guild.

dinanes, part of whose business is carried on in China bat controlled in Hongkong, Addressing the Court, Mr. Vang da. Open Championship Double--N. . The authorized capital, as shown by scribed the progress of the Fushing on Chong and Yung Hin Taune. J. S. A. the last balance sheet dated June 30th. leaving Swatow until she grounded O'Callaghan and Dr. E. R. Gawler 1994, was $5,000,000 of which was issued could, and naturally the effect of this

Carron and S. A. E. Lanail: Capt. C. White Rock about 1030 p.m. Fehr. Hung Hui Chew and lu Tak Lam: $1,900,100, less calla in arrears of is felt in the present circumstances. ry 19th Dall weather was experienced T. Hanila and . Yoshida . Yew Man8102,100 I understand that there are Dealings with banks abroad must necess- until after nine o'clock, but then visibi. Txan and Ho Ka Lan.

still calls in arrear, but I am not at pre- Bity improved. He would call as wit

matter and all matters appertaining to sent acquainted with the Sgures; this memes the Third Officer, who was om datyr. D. Sudo.

the capital of the company are being dealt at all materin! times, the Master who Handicap Singles." $. B. Green time, since taking the master in band, with in Hongkong and I have not hud was on the bridge, the Chief Offers, the E. Grimbli (+3/8)

1) Major Hattersley Smith (~3/6); to obtain precise details. Chief Engineer, the Quartermaster sod (+16),

R. D. Evaris

The balance sheet at June 30th, 1827 the look-unt. The Master of the Fooshing Hahillcap Singles · B."~P. H. Uon-abowed a credit to profit and loss ac- attributed the stranding to the abnormalean (scr() r. P. W. Gresie (→ 15).

count of 873,082, 89, out of which a Handicap Doubles. Dr. W. I Thomas

dividend was proposed, and I believe All the directors are residents of Hong- visibility and to the fact that a strong and 31.. H. Turner (+8) . N. L. Hpaid, of 3 per cent. absorbing 881,62 kong, Canton or Saigon, with the exter southerly current was running.

Exilton and W. E. Cornaby. (ser.).

Further depreciation was written off and tion of the ex-manager of the Shanghai a balance of $3,139,02 carried forward. branch. One other person résident in HOCKEY.

SUSPENSION OF PAYMENT.

Shanghai is shown in the last annual re port as a director, but I understand that The following trans will represent the kong, on June 1 1994, and in een-and that his name should not have ap The bank suspended payment in Hoag he claims to have only been an advisor Hongkong" Hockey Club this work, as sequence of cables received, this branch, peared as a director. below:

ex-manager us welt as others, did likewise, the was in Hongkong at the time of the crush Tinday at the EISUREN at $35 p.m.:Shanghai Branch suspending payment) P, W. P. Mills. A. P. T. Farquharson, also on June 12th, 1024.

althoug on his way to Peking, he di

I understand be passed through

through the Pro, Liquidator

Captain John MeAiash said that the weasel left Swatow at 6.2 in the even- ing, and crossed the bar about 7 pm. At 2.03 the Good Hope Light was abeam, The weather was dull and there was a drizzling rain, but after nine o'clock the weather cleared and visibility to seaward was good. The wind wis N. by W. force 4. At 2, they observed the Lun

nocks Light, and at 9.06 altered course to N. 80 E At the Lannocks Light was N. 762 and course was altered to mass one mile clear. At 10.10 42, the course was altered to N 74

F

1.

THE DIRECTORS.

The

1. B. Becher. I. P. Rah. Res. E. W. A petition to wind up the company tot interview th

dot interview the Provisional Liquida-

at 10.90 to X. to E.; and at 10.30 to N. Vallack. 64 E. It was while the vessel was being steadied after the third change that the Fouching struck White Rock."

The President: At what time did you potice the red sector of the Lammocks Rock-At 10.20 p.m.

usuri

method after

would not be able to detect any land to give me my position. I decided therefore to go through the pass when I should,

CRICKET.

.R.C. HK,C,C.

now.

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G. R. More. W. Woodward (capt.), (1. and another D. Martin. A. A. Dand, G. R. Tammert, was immediately presented in Hongkong

Shanghai, In Hongkongquested him to Jones, and G. R. Vallack, Friday, March sota, at the U.SEC., manager and he and Mr. T. Martin feirer account and to answer any ques Mr. John Fleming was appointed special

to appear here in order to present statement of afairs and de at 5,29, p.in.:-E. W. Hamil, A. P. T. subsequently were appointed liquidators in Decessary, and I am informed that Farquharson, L. R. Becker, Air. Paterson was appointed prori- Heth P. J. B. Mitchell (capt.), A. A. sional liquidator in Shanghai to collect a telegram has been received from him, Band, G. E. Lammert, C. R. More. W., the assets and to take charge of the com- stating that he will be here about the Woodward, R. D: Evans, and G. R.pany's property in China, which appoint

20th. S and mens covered the Shanghai Canton A statement of affairs was prepared: Branches. He is still acting in Shang- early in the liquidation but of cours hai, but has been quite unable to obtain could not be presented until a meeting any cond

control over

the Canton branch. Mr. of creditors was called. I have the Paterson appointed as his agent Mr. John figures here, unsigned so far by any direc In this League match to be played next the Canton office had been closed by the have been provided by a sub-manager and] Fleming of Hongkong who found that tors or responsible officer of the company.

A few figures and some explanations, Way did you select to go through that Saturday on the L.B.C.'s ground, at 2

military. Subsequently a special mana- chanel-Because i had already bees Indian Recreation Club 2nd Xt.-Sirdar authority was the big as yet any CAUSE OF THE DEFICIENCY

p.m. the following will represent the ger was appointed, who stated that his, these I have also with me. through many times.

Can At night 1-3fy

Khan (capt.). D. Rumjahn. J. A. R.

There are no signs leaving Swatow was to pass up to the Ismail. N. R. Kitchell, B. D. Rumjan, statement of accounts having been pre- The principal cause of the deficiency west of the Lammocks On this particu. P. Madar, A. Wahab, J. sentative to endeavour to assist.

pared although the agent sent a repre. in Shanghai is stated to be due to losses lar evening, it being cloudy over the land, Ackier. F. M. Areuili, A. R. Ming and have been some changes since then and to June 1924, but especially from Septem There on exchange contracts from June, 1923, 1 thought the weather would get worse J. S. Cassambhoy. Reserves: E. A. I am informed that the Chinese Chamber to December, 1993, and it is claime during the night and therefore that I Moosdeen and A. B. M. Samy.

ber of Commerce and the Depósitors that even these were largely

incurred Association now have

representative of behalf of Hongkong and New York. their own in charge of the liquidation The back held a long position in

in sterl there.

A formal request in writing has ing and gold dollars expecting gold to been made to the Chinese authorities, appreciate in the Autumn owing to asking that, the assets in Canton be hand gold

However, thepreciated

said The charge against a Chinese employer ed over, without result. Continuing, witness said that he thought of the Societe Francais de Gerance of Canton do not recognize this bank as a

in Japan and sterling they would have been clear of the pass the theft of 36,580 in Strails Currency British company and consequently the sold at 3/4 and gold dollar The British and Chinese authorities in high rates, c. purchase at far

bought at low rates had to be sold at before they have the effect of the ebb note the again ward before Carey, company and the at 70 had to be sold at Lowes of had to tide. When they struck the engines were Wood at the Central Magistracy yester able to obtain any control over the branch exchange contracts are shown as The put full astern. but without any effect. day. Lifeboats were prepares, and the passen- . Th. van Schiffgnardi, cashier at the obscure.

there and the situation is therefore still

1378.502. It is claimed for this branch gera and crew were supplied with life Netherlands India Commercial Bank.

that

a large portion of this is due to belta Reports were that No. 1 hold was Singapore, deposed to having received

purchases on behalf of Hongkong and ASSETS TO BE POOLED... making water, and soundings showed five pare from Hongkong, containing

New York, which were subsequently can- there was to feet 6 inches of water round Straits Currency Nets. They were all Saigon and New York, Freach

As regards the other branches, via: gelled and had to be sold it a loss. "the, ebin's bows.

Bad debts have eaused a loss of over The President: What was the draft of similarly packed, but on opening one ment official, Mr. Brison, styled the pre-T 30,000, but another amount of Te the vesselFifteen feet forward and Further there was no memo on the line State official took charge, and it is repears to have been carried on at a con- package it was found to be full of paper in the former place in New York & The banking business in Shangbai ap- visiona: judicial liquidator. took charge 100,000 obviously bad or doubtful, At 1230 there was 12 feet of water in which the contents were packed. He ported by the liquidator in Hongkong siderable loss. the No. 1 hold, and beyond using ballast said it was absolutely impossible for any that this official proposes to liquidate for We shall probably be in possession of pumps, nothing else could be done until to have tampered with them before the benefit of United States creditors, in information in the near future as to the cordance with those of the American progress of the liquidation in Hongkong.| Comdr. Harvey: You have said that bank alter

9.0, visibility because abnormal defence, witness said that he was familiar both cus

In answer to Mr. M. K. Lo, for the The same with respect to Saigon. lotion respecting that.

faws applicable to this matter. At present I can give no further informa What exactly do you mean by that?-The with the writing on the packages, but will be satisfed in fall, but if the court 1 understand local creditors isual. Since then. I have put it dowa

bran-

have quite good súa room.

Did ever enter your head that you would be set to the southward No.

sixteen feet aft

assistance arrived.

STRAITS NOTES CASE. P.O. OFFICIALS EVIDENCE.

he opened them after their arrival at the

નાં

govern

could

lights were showing up more vividly than could not say the written dresses were and liquidators in Hongkon and possi- tors, there is a matter which must be

10

Lie meisture in the atmosphere. The identical on this occasion. Further ex-hly do so, assets at head

amined, he said he did not know that the ches would be pooled for the benefit of European cashier at the Société Fran-all creditors wherever situated. case used to initial the envering of each package,

effect did not wear off until February 2nd, when I called the attention of the Third Officer and Capt. Kennedy to the fact that the light was then normal.

Mr. Vanz: Do you know what course you are recommended to take?-Outside the Lammocks at night.

A registration clerk at the longkong Post Office said he received the five pack ages on January 22nd and tendered five The course you took, making no allow receipts for them. He then handed them anices for tides and currents, would have to the transfer clerk. The latter clerk you a mile or half a mile clear of said he handed them to the Superinten taken the Lammocks Light 7-Yea.

dept.

The hearing was adjourned.

And your observation of the Lammocka Light gave you the impression that you. were much nearer to it than you actually were ?—Yes.

4

FILIPINO MUTINEERS.

U.S. WAR. DEPARTMENT PASSES

SENTENCE.

Proceedings in connexion with pooling by Saigon and New York are matter, falling within the scope of the Court and liquidators as Hongkong and must be dealt with there.

As far as I am aware the matter is not yet definitely settled

It is intended that Shanghai, and Hongkong shall pont their proceeds o that creditors within both jurisdictions shall stand on an equal footing.

whom you wish to

This being the first meeting of credi considered by you namely: whether ap plication should be made to the Court for the appointment of a Liquidator. to the Court Mr. Paterson, CA, of Messrs. Since the date of the petition presented Lowe, Bingham and Matthews has been acting as Frovisional Liquidator. Per should be appointed liquidator, but I sonally I feel it very advisable that be must leave that matter for you to decide. be considered by you, and that is, whe

There is a further matter which

Dust ther an application for the appointment ESTIMATED DEFICIENCY... of a committes of inspection, to act with

the liquidator Fron a persual of the bank's ledger Court, it should be made to the From the position you found yourself

balances in Hongkong last July, there bers of such committes. Personally. I in, do you consider that a strong souther-

was an estimated defcicney of 8450,000 think it very necessary that these two ly current must have been running-Yes.

and I ant informed that, from the Hong- things should be done by the creditors Mr. Webster: Did you follow your

Long statement of affairs, it would seem present here to-day. that creditors there may expect to receive

now declare the meeting open. I shall now usual

The sentences adjudged by the Military practice in passing through the

After some discussion, the Official approximately 20 per seat, but this figure usually have the Lam Court Martial in the cases of the soldiers must be treated with reserve. passage?—No; mocks Light right ahead.

who participated in the mutiny at Fort

Receiver's auggestions were acted upon, Evidence was

From the statement of affairs of the and on the proposition of, Mr. J. Eure, Cloddard, third by Mr. Barold William McKinley last July, have been Shanghai branch, which has not yet been seconded by Mr. Lan In-er, Mr. Patersor

officer, who said he went approved by the U.S. War Department-signed by any responsible director or Iwas appointed permanent liquidator.

The ringleaders, who were tried for oicer, it would appear that the local the bridge at 8.30 a.m., and said that conspiring to excite and causa mutiny creditors might expect a dividend of ap appointed.

A committee of inspection WILA also from the visibility of the Lammocks and for unlawfully soliciting soldiers to proximately 60 per cent. but this also Light be judged the Foothing to be one join & anion with the intant to create must be treated with rewry,..BE the book mile to 11 miles off.

Evidence was also given by Capt. Ken- and cause discontent within and subvert debts are a most uncertain quantity.

The Japan Your Book 1945 bas just nedy, acting Marice Superintendent, who the morale of their organizations, cach visited the vessel on February 21st, and received sentences imposing dishonour-tempts at collecting the debts have been prehensive and reliable of its kind pub Up to the present the results of atheen issued." The book is the most com. stayed aboard that night. The Master able discharge, forfeiture of all pay and disappointing, but posibly the appoint lished in Japan. The great earthquake -pointed out the extreme brilliance of the allowances dae or to become due and with ment of a permanent liquidator and the and fire of 1023 was responsible for delay Lammocks Light, and it appeared to be varying from 5 to 20 years.

termiş confinement in Bilibid Prison, more forcible measures now being taken in the publication of the present edition. two miles off

Private will remedy this.. Unfortunately, the Au appendix contains a detailed des The Court adjourned to consider their Thomas Riveral was scatenced to confine disto

disturbed findling, and returned to announce that ment for 20 years, Private Alejandro around Shanghai, almost great earthquake, which will serve as s

conditions of last Ai

Autumn, cription of everything pertaining to the they found that the grounding was due vardons for 13 years, Corporal Macario have improved only alightly source of reference on the terrible disus

provected the collection of debts to an unexpected southern set and the Garcia and Gregorio Magalit for 10 Thenomenal brilliance of the Latamocks years, and the other ringleaders to 5 years been, has takes place since the Lanar authorities, the contributions sent from since then. What improvement thers has ter, the emergency mensures taken by the Light. The Court considered there was cach no negligence on the part of the Master The rezaninder of the convicted soldiers be available: bere are held up owing to rest, the volume contains much general New Year. Certain funds which should various friendly countries, etc. For the ar the officers of the Fooshing, and were sentenced to 24 years' imprisonment committments at the head office, debtors information relating to Japh as "Year exonerated them from all blame.

and discharge.

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