1935-06-01 — Page 6

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HONG KONG DAILY PRESS. SATURDAY, JUNE 1, 1935.

Around the Courts

WOMAN STABBED

The hearing or the case in which Wong Tal, charged with wounding or causing grievous bodily harm to Yu Sze Mui was continued before Mr. Macfadyen at Central Magis tracy yesterday.

Mr. T. Murphy. A.S.P. said that on May 15, an identiâcation parade was held at the Police gymastam when prisoner was paraded with

nine others? The complainant

pointed out the defendant, and another member of the parade, as being of the same height as one of her assailants. Another wit- ness Li Chung also picked up the defendant at once.

Inspector Fender stated that in consequence of a report on March 27, he went to 225 Jaffer Road and when going up the stairs he natleed some blood stains on che first landing. He then went in- side the house and saw COI1- plainant sitting on a chair.. ser- tously wounded and covered with blood.

Lt Chung, unemployed, testified that on February 28, a certain man named Ng Chol called on him and together they went to look

for the defendant. They went to the Tin Nam tea house where. Ng Chol told Wong Tal the defendant, that a certain man named Chan had a concubile who had miscon- ducted herself and that he was willing to give $50 to any one who would bind her eyes. Wong Tai said that it could be done. They then left the tea house and went

to find the complainant but falled to do although they want to several places. Defendant then suggested going up to complainant's house and stabbing her, which they did.

After further evidence had been given. the defendant was "commit- ted to stand his trial at the criminal sessions.

PO HING THEATRE TICKET CASE

At the conclusion of the hearing

1119

son-in-law. At the police station witness was told that it was a personal matter and that they could not deal with it there. The following morning. witness

went to the

SHANGHAI BANK CLOSES DOORS

The American Oriental Bank

Tsimshatsul Pollee DEPOSITORS TO COME FIRST: HOPES

Station where he saw Traffic-Ser- Keant Palan, and told him that be wanted to take out a sum- mons' against defendant for dan- gerous driving. Witness was told. that defendant · had · been there and was taking out summens "against, him

similar {witness).

A witness' request. Sergeant Pa- ton got into touch with defendant over the telephone, but he refus- ed to discuss the matter with witness. Witness was served with a summons and appeared in fourt

May 10 and 17.

Different Tale.

11

OF REPAYING 100 PER CENT.

Shanghai, May 25.

the

In spite of the fact that American, Oriental Banking Cor- paration, with its head offices at 29 Nanking Road made a profit of nearly six lakhs last year, had ap- proximately $8.000.000 in deposits, and a capitalization of approxi- mately $4.700.000 the Board of Director's meeting yesterday

elal expert advice, "we came to the conclusion that, with business con- ditions as they are.. we had no other recourse, bearing the interest

al Statute: and with its capitaliza- vion of $20.000.000. He hoped to be associated in an executive ca- pacity under the trustee who would be appointed by the U.S. Court for China Primarily A realtor, he had confidence in the Asia Realty Company when reor- Kanized, but declared" himself as having no intention of re-entering the banking business. Contrary to a prevailing opinion, Mr. Raven stated emphatically that the bank had no interest in the so-called allled

the companies, meaning American-Oriental Finance. Cor- poration, the Raven Trust Com- of our depasitors in mind, except-pany, and the Asin Realty Com- Ing to suspend business,

pany. Further, the bank had not "The bank is now in a position | invested in real estate ventures.. to pay 100 cents on the dollar, providing business conditions con- tinue during liquidation as they are now. Our assets will easily provide for this payment. We could have continued bustness, but, with a depressed market and

financial future. agreed that our first duty was the restitution of money owing to our theusands of depositors."

C. H Easterbrook testified that morning, decided to close the. when he was driving along. Water-bank and apply for liquidation Joc Road near Argyle Street he through the United States Court saw a car coming in the opposite for China. At 10 a.m., notices to direction. It

uncertain come straight at this effect were posted at the main witness' par and forced him to go doors in

and English, Russian, on the rough part of the road.

Chinese, The car did not stub, so witness turned bis car round and follow

ed.

The notice in English read:- The American Oriental Banking When witness overtook the Corporation has been closed by car after passing Prince Edward order of the Board of Directors Road, a passenger in the car cai-pending an application to the US. ed to complainant to stop. but he Court for China for the appoint- did not Witness followed and

ment of a liquidator, (signed) Sec- tefore | just

reaching Rutland

retary," Quadrant, he overtook the Car and passed in frent in oder "to stop the other car.

Further evidence was Kiven by Tramc-Sergant Paton.

Hearing was then adjourned 'sine dle' as defendant. stated that the passenger who was In his car at the time of the incid-company, remained open for busi- ent had left the Colony and would nests. The latter company how- not be returning until about Bep- ever, is to apply for a trustee in tember.

Before Mr. Wynne-Jones at Kowloon Magistracy yesterday, Wong Hop. aged 32, a grass cut- ter, was charged with causing grievous bodily harm to his wife Ng Sheung, aged 28 at 28 Saigon Street.

It was stated that the Com- plainant was still in hospital suf-

head which had been inflicted with a chopper by the defendant.

The defendant was remanded ir. pollte custody for three days.

of the summons against Chantering from severe wounds on her Wal, manager of the Poing Theatre, Nathan Road Kowloon," before Mr. E, I. Wynne-Jones at the Kowloon Magistracy yesterday. for an alleged false statement re- garding payments for admission to the night performances on March 16, which comes under the Entertainment Ordinance, Chan Wat was called to the witness box by Mr. P. H. Sin, after the hearing of the evidence given by Sergeant J. G. Whitcroft for the prosecu- tion.

From the evider.ce given by Chan Wai. It appeared that there was no order or system kept in the running of the Theatre office, and witness stated that anyone could

have entered the office and re- moved books of tickets and chop-. ped dates on them without much trouble.

Pleading that an old gaol friend had given it "to him to carry. I Tin, a 23-year-old unemployed. was sentenced to two months' hard labour by Mr. E. I. Wynne- Jones at Kowoon" Magistracy yes- erday, when he appeared charge of having unlawful posses- sion of a radiator cap.

of

toki. was yesterday fined $15 by Wu Chuen a 20-year-old shop

Mr. MacFadyen at Central Ma gistracy for travelling

the Yaumati ferry with his master's monthly ticket.

on

The five coolies who Were chargged with having committed Mr. Wynne-Jones then conclad-

an indecent assault upon two ed, saying that there

was no married

women Chung NE Mul punishment to come from him, and Ma Tai. at Kowloon City on but he trusted that Sergeant May 18, were Whitcroft would see that the facts week for further enquiries. when remanded for "a

of the case are put before the they appeared before Mr. Them- Colonial Treasury as Chan Wai son at Kowloon Magistracy yes- certainly had no control over the terday. running of the Theatre.

DANGEROUS DRIVING

*ALLEGED

LOCAL ESTATE

Local estate to the value of $129,500 has been left by Mrs.

A cross-summons cass was heard Before Mr. Thomson at Agnes Elizabeth Fairgrieve ΟΙ Kowloon Magistracy yeserday Kennedy, widow, late of Somerset when A. Alves of No. 141 Water-Kinnou, Perth. Perthshire, Scot- loo Road charged. C. B. Easter-land, who died on April 29, 1934. brook of No. 106 Waterloo Road An application by Mr. G. G. N. with driving private Car No. 4005 Tinson, solleitor, the lawful at- cear Rutland Quadrant in Water-torney, for sealing the confirma- loo Road in a dangerous manner ton of the Executors of the said at about 8.25 pm on April 12.

deceased, has been granted. Mr. Alves, in evidence, stated that on the night of April 12, he was proceeding through Waterloo Road on his way home. When near the Kowloon Tong Club A WIL- car came up from behind. ness signalled it to pass. It came abreast of witness' car and them dropped behind again About 50 An organization, composed of yards from Rutland Quadrant, delegates of twenty-three local witness agal signalled to the public bodies is to be formed for car to pass, The car, after pass-the support of Overseas Chinese thg. cut in front of witness and who are alleged to be suffering turned into Rutland Quadrant. and witness was forced to jam on his brakes and swerve to the left to avoid a collision.

CHINESE IN SIAM

Body Formed For Support,

Shanghal, May 25.

unfair treatment from the Siamese Government, according to a re- solution passed by a joint meeting called by the various publie bodies The car stopped in front of wit in the Chinese General Chamber ness' garage, so witness motioned of Commerce yesterday afternoon. the driver to move along. Both The twenty-three public bodies drivers then got out of their cars, will include the Medical Practi- and defenadnt asked witness for tioners Association, the Chinese his name and address. The two Chamber of Commerce, the Over- had an argument, and witness seas Chinese Affairs Association, told defendant to "go to hell", and the Ningpo Residents Guild, the told him that he was driving dan-Shanghai Bar Association, and the gerously.

Citizen Federation. Before the Delafant later went to the adoption of resolton, reporte Mongkok Police Station and sub-were made on the allegedly unfair sequently witness followed with i trestmint complained about,

With the same gesture, the American-Oriental Finance Cor- poration and

Trust the Raven Company closed their offices to public business. The Asia Realty Company, generally, but mistaken- ly, understood to be an associate

the US, court, in accordance with a recent Congressional statute--- 77B for reorganization.

The official statement of the American Oriental Banking Cor- poration. Issued yesterday, read:-

"Owing to the increasing busi- ness depression and the present

local financial situation that is making it practically impossible to maintain sufficient cash balances! to meet current obligations. the Directors and Omcers 01 the

American Oriental Bank Corpora-

tion have decided that it would be in the best interest of the deposi tors to liquidate the bank at this time when it is believed that all depositors in an orderly liquidation will receive 100 per cent. of their deposits."

presentative of the "North-China Interviewed yesterday by a re-

Daily News," Mr. F. J. Raven, Pre- sident of the American Oriental Bank, said:"After a conference of the Directors of the Bank, which

was supplemented by other Anan-

DEPOSITORS FIRST

We

The Raven Trust Company „was organized in 1914, the bank in 1917, and the Asla "Realty and the Fin- ance Company in 1922. In the early part of the last decade, the bank had several branches in out- ports. all pf which were closed with Tientsin the exceptions of the branch. The latter Was closed yesterday at the same time as the head office.

The depositors in the American Oriental Banking Corporation were drawn from all nationalities and all classes in

the this part of world. Prominept were 籠 large number of Russians, Chinese, and Americans, a great many mission-

Mr. Raven, by à chart. explained

ing possibilities of continuing busi- the indications of steady-decreas-

ness here The graph was based since January 1. on conditions Were basic conditions to declinearies being among the latter. It

further, no one knew what would happen, he said, and continued:- "We feel that, if we close our doors to-day we can repay our depositors 100 per cent. If the depression continues for several years, we might be able to pay only 30 per

was learned yesterday that Mr. C. S. Franklin is. being sent to Pei-

ping by aeroplane, there to request the necessary action of the US. Court for China, Judge Milton J. Helmick being in Peiping at pre- sent.

LATEST BANK ŠTATEMENT · The following is the condensed statement of the bank as of De- cember 31, 1934:-

tures

Resources

cent. For that reason we took this drastic measure, Sharehold- ers will come after depositors have been paid. They have never been pald less than 8 per cent. dividend on the market value of their shares, and, at times, have received as much as 25 per cent. on par Loans and Discounts value."

Stock and Bonds Much of the bank's apparent | Furniture and Fix- weakness, in Mr. Raven's opinion. was due to the huge silver pur- chases by the American Govern- ment under the Silver Purchase Act. A resultant factor resolved itself into money had been invested in first- class securities, and at the moment there was no market for them. Credit was virtually non-existent.

Had business continued through the opening months of this year on the same plane as during 1934 there would have been no necessity to close the bank, Mr. Raven add-`| ed.

arithmetic-deposiors'

ASIA REALTY COMPANY

Concerning the Asia Realty Com- bany, Mr. Raven stated, that it would be reorganized undër Feder-

Customers' Liability

under L/C Customers' Accep

tances Accrued Interest and Accounts Receivable Bilis Received rer

Collection

Other Assets Bills Purchased Sight

and under LIC ....... Cash on hand' and in

Banks

Cash Reserve Against

Circulation

S'hal S 8,986,430.58

37,767,90

130.169.21

1.224,437.05

1,112,887,99

121,905.09

639,787.84 4,628.54

2,320,219.14

2,117,032.40

32,805,00

S'hal $16.728,070.72.

(Continued on page 12)

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