E
1.
HONG KONG DAILY PRESS, MONDAY, FEBRUARY 8, 1937.
SERIOUS INSINUATIONS
(Continued from Page 1)
NEEDED MORE CASH Witness: I needed some cash to carry on the business of the com- pradore department and it was owing to the strike that I had to make advances to the workmen in the refinery, until I got payments from the general manager which was put back a month. At that time I had been running the com- pradore department for 16 years. I had to raise the money because of heavy expenses during the I needed more liquid cash than before. I was reimbursed by
strike
Mėsars,” Jardiner.
Mr. Prentis: Were you indulging in speculation at that time?
Witness: No. Mr. Prentis: The China Sugar Refinery went into liquidation in 1927. did it not? Witness: Yes
Mr. Prentis: At that time what approximately the value of your assets?
was
Witness: Between $150,000 and $200,000,
Mr. Prentis On going through your pass books from. 1924 to 1927 I find very large payments in and payments out. What would the majority of these be?
Witness: I used the money to buy Investment shares and selling them afterwards.
Mr. Prentis: You held quite a number of shares at that time?
Witness: I had some shares.
Mr. Prentis: In 1928 you became compradore of the French Bank? Yes.
How much security did you put up?---$150,000.
Did you put it up yourself? Partly. I put up $25,000 cash and $125,000 in property belonging to my parents and uncle. I continued to make profit.
Mr. Prentis: In September 1931, your credit balance at the Hong Kong and Shanghai Bank was $193,9347Yes,
And your credit at the French Bank was $23,209.-Yes,
... Mr. Prentis: That was part of the $25,000 you had deposited with the French Bank?-Yes.
'Mr. Prentis: Apart from these cash nasets what was approximate- ly your share holding at time?
M
that
I
Witness: I had some shares. cannot remember exactly.
Mr. Prentis: Can you give any
Idea of their value?
Witness: I cannot remember. WITHDREW ALL CREDIT Mr. Prentis: Apart from the property I have previously men- tioned, did you have any real estate or household property in the Colony No.
From your pass books some time
In September, 1931, you closed both
accounts and withdrew all your credit? Yes.
Can you account for that with- drawal?
AGAINST
COMPRADORE
I was under the impression that the Bank manager was looking after the contracts for me. The
Bank manager verbally informed me that once he had got the post tion straightened out he might grant further facilities for me to recuperate. Unfortunately, the manager was called back to the head "office and a 'new man came out to take his place.
Indian. They were borrowed at various times right up to 1938.
"My reason for continued bor- rowing," said witness, "was that I had to meet interest on payment one to the other and I needed some money for my own expenses and family."
Mr. Frentia: Up to 1933 you were receiving money from your duty as compradore of the French Bank and $4,000 to $5.000 from the Ning Hing Bank. Did you have any other sources of income?
Witness: No. I borrowed money to repay previous Habluties..
Witness added that he had 200
Mr. Prentis; It would take a very long time to recuperate $1.000.000.
Replying to further questions, witness replied: In the autumn of 1831 all my assets were wiped out and I found myself Hable for $500,000. In fact, I still owe the shares in the Tramway Company French Bank that sum but they which he mortgaged and applied have now" agreed to waive the money to the same purpose as continued as compradore of the the money which he had borrowed French Bank until 1933.
from Mr. Tang Shiu Kin.. BROADWOOD ROAD RESIDENCE Regarding his residence at No. 5. Broadwood Road, witness sald that the rent was 3350 per month, The expenses for running the house were a little under $1,000 a month.
Mr. Prentia:. Did you manage to get back any of your losses?
RESIGNED POSITION
†
Witness: To a small extent but that was paid in against my deficit account in the Bank, The, profit earned by me went into the Bank | to cover my previous losses. I re- Mr. Prentis: Considering your signed in 1933. I was then in bad i financial position were you not health caused by the heavy losses living far above your means? I suffered.
Witness replied that he did economise himself. His eldest son was actually, supporting the family and they could manage to carry on. The Income his eldest son earned went towards the expenses of the family.
"In 1933 I became associated with the Chiria Corporation Limited," witness. "I had continued the some shares started in 1929 or 1930, The shares were valued at more than $100,000 which I invest ed with them. When the firm went Into liquidation the shares were of no value at that time and I did not use them to clear my liabilities, The China Corporation has since been finally wound up. The share to Miss Morrison come to be con- creditors received nothing."
Witness told the Court of his association with the Canton Sugar Monopoly to which he contributed one share about 1930 which was in the figure of about $2.500 Canton money, a little over $1,000 Hong
Kong currency.
Mr. Prentis: Did you receive any profit from them?
Witness: There were some profits I was told but I never received them.
Mr. Prentis: Do you mean that he pays part of the household ex- penses?
Witness: Yes.
Mr. Prentis: 'How did the debt
tracted?
Witness: Certain shares were handed over to me and it was ar-
ranged that I had authority to make use of them at my discretion subject to paying certain interest to her regularly. Since then she began to draw on me regularly every month and I had to disburse and to pay a number of accounts for her every month. The shares were a loan.
Replying further, witness said: Mr. Frentis: The Monopoly has The authority given me was that
since been cancelled?
Witness: Yes,
Mr. Prentis: Do you know the Ning Hing Bank?
Witness: Yes, I was partner. I. put up capital of $20,000.
Mr. Prentis: When did that come into existence?
Witness: Some time in 1933. Mr. Prantis: It was not really a bank; it was more in the nature of an exchange brokerage, was it not? Witness: The Chinese call that
a bank.
Witness added that he managed to make a profit but the business was closed in 1935 or the begin- ning of 1936. There
were three
partners.
Mr. Prentis: Where are the books?
Witness: The EX
who took
I could sell them or pledge them or realise money on them in any way I saw ft. I did sell them. I used the money in 'diferent ways. His Lordship (Interposing): For whose benefit?
Witness: For hers and mine.
FORMER
EXPECTED MONEY' His Lordship: What explans- tion for conduct like that have you to offer?
Witness replied that he had ex- pected some money from hts hold- ings at the China Corporation which was wound up last year. He admitted that the shares of the Corporation were never quoted.
His Lordship: Have you any ex- placation of your extravagance to offer? None at all?
-Witness: Personally, I do not think I have been extravagant.
His Lordship: You were paying, on
for your clothing, feeding and your own showing. $1,250 a month
house. You that. Is that not extravagant?
earning
Witness: Yes.
were
Bot
. His Lordship: Did you not think it was better for your family. earning $400 monthly, that they should live in a smaller house on a less ambitious, scale?
Witness: Yes, but I could not make them see my point.
His Lordship: I understand that the father of a Chinese family al- ways dictates the policy of the family and not the other way round.
MISS MORRISON'S QUESTIONS
At this stage, Miss E.-Morrison, who was dressed in black and wearing a smart black fur capė, came forward. She was one of the main creditors and in reply to his Lordship said that she would like to ask a few questions.
Miss Morrison: I would like to ask why in 1934, Mr. Choa tele- phoned me and asked me if I had sold my bonds and said that owing to the fall in gold I would be well advised to hand over my shares and bonds to him to sell and I would receive seven per cent. in- terest. At that time Mr. Choa stated that he was still compradore at the French Bank:
His Lordship, turning to the wit- ness, said that it was his duty to warn him, that in the face of the serious allegations made by Miss Morrison, the witness was not able to answer any questions which might incriminate him. The witness was at liberty to say that he declined to answer,
for
до
Mr. Prentis: How do you mean for her benefit?
Witness: I had to invest them
invested $20,000 in the Ning Hing in order to pay interest to her. I Bank. I did not give Miss Morri- son any security for money loaned to me.
Witness continued that he had furniture in his house on which there was a bill of sale. 7
Mr. Prentis: How did that bill of sale come to be given?
Witness: I borrowed this money
charge of the bustriess took the in the hope that I might compro- books away and I have no idea
Witness': I withdrew the 'money because of heavy deficits incurred from outstanding contracts in buy- where the books of that business
ing for which I was held responsi- ble by the Bank,
that
Mr. Prentis: You mean certain customers of the Bank de faulted and you sa compradore "ho had introduced them was held Hable for them. What was the rea- son for their defaulting?
Witness: It occurred when Eng- land went off the gold standard round about that time.-
are.
Mr. Prentis: How much pront did you make between 1933 and 1935 on that transaction?
Witness: Four or five thousand dollars.
:
get
Mr. Prentis: Did you get your $20.000 back again?-No.
Witness: I was also a partner In the Kwan Yuen Bank. It was under the same management as Mr. Frentis: How did the effect the Ning ing Bank. The same of England going off the gold | remarks apply to the books of the standard affect your clients? Did Kwan Yuen Bank,
-Yes. The rates fluctuated.
they have contracts with England? Witness stated that apart from debts owing to Chinese people be- fore 1931, he had incurred all other debts since then.
Mr. Prentis: You paid into the meet these abilities, $300,000 to $400,000-Yes.
Bank to
↓
Witness raised $40,000 from Mr. Mr. Prentis: Was your security Tang Shiu Kin in 1932. also taken?--Yes.
TO KEEP BANK QUIET
mlse Miss Morrison's claim.
Mr. Prentis: What has happen. ed to that money?
Witness: It was paid as part of my assets. All assets received have been put up by relatives.
LARGE FAMILY Mr, Prentis: At the present time you have no leasehold pro- perty, no shares and no cash other than that deposited with me? yes. I have no other assets in China,
M. Prentis: Are you married? Witness: Yes. I have 11 child- ren and their ages vary from 13 to 30. Four of them are earning money. My eldest son supports the family at the moment. My wife has no property. I have no other assets at all apart from those disclosed to you.
His Lordship: As far as I can make out you have been hopeless- ly insolvent for the last six years, Is that so?
Witness: The children contri- Buted towards the running ex- penses. They earn about $400.
Mr. Prentis: Apart from these Explaining why he did so, wit- payments in you still had Habi-ness said: The Bank was asking ties at the Bank of $500.000?-Yes. me for further payments. I had Mr. Prentis; When England to barrow from Mr. Tang Shul
Witness mumbled something and went off the gold standard and Kin to keep the Bank quiet. then added that his salary at the you found the world's exchange At that time I was still employed French Bank was $700 a month fluctuating did you not realise that as compradore.
and the Ning Hing Bank produced your clients would default?
Mr. Prentis: At that time the about $200 a month. NO PERMISSION TO ACT! Bank must have known your His "Lördship: How did you Witness: I was not allowed to financial position?
imagine you were justifed in pay- net independently. I could not Witness: The Bank did not ing 6360 rent a month and $1,000 make any effort to cover myself know. They asked me for pay- to run the house? without the permission of the ments and I had to borrow, Most manager of the Bank. I did ask part of the $40,000 I borrowed the manager to do so but he ad- from Mr. Tang Shiu Kin went to vised me that he would look after the Bank. I was paying interest It to the best of his ability and I on my lalities in the Bank. I left it at that.
cannot remember when I ceased to Mr. Prentis: You could have pay it. The Bank must have a bought exchange outside the Bank? record -I could not without the per-
Mr. Prentis: Apart from the mission of the manager..
debt due to Miss Morrison all the Mr. Prentis: But you must have other sams are money lent are realised that with the dollar fall- they not? Ing at that time, with these con- Witness agreed that they were tracts due, that your abilities were sums of 13,000, $0.000, $8,000 and getfing greater and greater.
$2.500 loaned by four Chiness pec- Witness: I did realise that but ple, respectively, and $2,000 by an
His Lordship: Why did you not give that house up years ago?
Witness: I did think of moving. There was a time when I was pay- ing more than $350.
His Lordship: For the last five years you had been living at a very extravagant rate with money borrowed from friends and from others and on the profits of sale or shares which were never yours Is not that so?
Witness: Yes..
Witness: I decline to answer, Witness added that in 1934 when he obtained the shares and bonds from Miss Morrison he Was longer compradore at tne French Bank.. Witness dented that he advised Miss Morrison over the telephone that she would be well advised to sell them.
Miss Morrison: I would
not
have had any inclination to give. my shares. I have a book here to prove the day when I handed over the shares and bonds. Mr. Chon also gave me two telephone num-
bers.
Witness admitted that he gave two telephone numbers, adding that these were the numbers of the Ning Hing Bank and the Kwan Yuen Bank.
NO RECEIPT FOR SHARES Miss Morrison: He gave me no receipt for my aḥares.-
money on three months' notice. A year ago, in February, Miss Mor- rison went to Manila and on ner return told Choa that she wanted her money in the summer as she wished to go home. She asked for her money in June.
This was denied by witness. Miss Morrison stated she did ap- proach Choa in June,
His Lordship: And as a trusted you failed to return it?
Witness: I have, in fact, not re- paid that trust account.
NO GUARANTOR Miss Morrison: His last state- ment about my not asking him in June is untrue, because the night I asked him for my money he said It would be impossible for him to give me my money owing to un- foreseen circumstances. He said that if I pressed him for this money, I would get nothing, and that there was nothing to prevent him from saying that he lost the money. I did not take action. It took from June to September, 1930, to audit the account. I waited in the hope that there would be some Fair offer. His first offer was 1 $5,000 in monthly instalmenta. would have agreed to that provided he could get a guarantor for $350 a month.
His Lordship: Is that so?—No. Following further remarks by Miss Morrison, his Lordship said: You are doubtless aware there is a remedy open to you in another Court on the facts you have just stated-criminal prosecution of
this man. At the moment I am concerned solely with the public examination of this man.
Miss Morrison: I have not had the opportunity to put all the facts before the Court. I do not know much about law. I have ap- proached the police and they have but a civil case. Surely, though, told me it was not a criminal case
a man gets money. under false pretences there must be something or some way to get the money back.
His Lordship: I cannot advise you from the Bench. You solici- tors can advise you.
Miss Morrison: I can see that his threat will be carried out in full. He said that if I pressed him I would get nothing.
Mr. Prentis: In view at your Lordship's last remarks, if there is a possibility of criminal proceed- lags, it would be advisable to keep open this public examination until the next Session of the Bankruptcy Court; otherwise I have no objec- tion
His Lordship: I don't think it is a proper case to be closed, (Ad-¡ dressing witness): I shall ad- Journ your public examination until the next session of the Bank- ruptcy Court when you will ap- pear here to be further examined.
Charities Day Hoax
"A DISTINGUISHED VISITOR"
مخصصة
His Lordship. (to witness): You have no evidence in writing about Charitles Day in Glasgow and, the this arrangement between Miss customary preliminaries are re- Morrison and yourself; you were garded by the citizens with at least allowed to sell as you liked. The a kindly tolerance which some- net result is that there is judgment times swells into personal pride in against you for $29,000. Can you the students achievements when suggest how anyone should be these are of special distinction. In foolish enough to be a party to an particular the annual hoax is agreement such as you suggest awaited, appraised, and condemned Miss Morrison's suggestion is a or condoned according to individuál!
taste. simple one. You, she says, pre-
The exploits of Miss Anne tended to her that you were cor- D'Apenny, the Atlantic swimmer, adore of the French Bank, pre- and the arrival of Big Bill": tended that she would be well ad- Thomson were hoaxes in the vised to take your advice to dis- grand manner-the better hoaxes, pose of her bonds and script for too," because they deceived some seven per cent, and, believing that, and offended none. This year, how- she gave you valuable shares. | ever, the studenta have been less Your reply is that we had a muccessful. The hoax was launch- correct? friendly understanding, is that | ed with too much solemnity, and
accordingly foundered.
Witness: I intended to make the money for her.
His Lordship: Did you not re- gard it as a trust account I did realise it.
His Lordship? Did you keep a separate trust account? No...
His Lordship: You mixed it up with your own money or lack of money, did you?—Yes.
i
His Lordship: And some of the money, you have told us, you used for your own purpose-Yes.
His Lordship: Another friendly understanding or other great ex- pectation?
His Lordship: Am I right in saying that when the writ was issued against yourself, you entered your appearance and instituted leave to defend the action?-Tes:
Miss Morrison remarked that the agreement Between witness and herself was on a seven per cent. basis and that the condition was that witness would return ner
In design this year's hoax follow- ed tradition in that it involved a visit to Glasgow on the eve of Charities Day by "a distinguished visitor," no Yeas a personage than the Professor of Medicine from the University of Lime, with the high- sounding name of C. R. van Druy- ten. So far so good, although the name afforded no clue; but when it was added that the protessor was to address e mceeing of the University Medico-Chirurgical 80- clety on the treatment of influen- mi and that the public were to be admitted to the lecture free of
charge the jest began to lose such
as had inspired it. Induenza is too much to be ready material for student houxes, and although the "professor's sponsors was sa tiafed with the advance publicity they have secured, they forfelted some of the admiration which is usually accorded on such occas- iona.
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1
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A NECESSARY BEFRESHMENT WHEN GOOD COMPANIONS. MEET.
SOLE AGENTS
H. HONDA & CO.
TEL. 20720.
40, JOHNSTON BOAD HONG KONG.
AMATEUR MOVIE MAKERS CONTEST
OPEN TO AMATEURS WHO USE EITHER 8 or 16 m/m FILMS
The film must be in the office of the FILMO DEPOT, Marina House," Room No. 313 not later than February 27th, 1937.
The following have kindly consented to judge:
Mra J. J. Paterson.
Mr. J. W. Platt..
Dr. F. Bunje
Mr. J. C. M. Grenham.
Mr. E. A. Von Kobra Nagy Major B. D. Walker.
་་
There are no restrictions as to the number of subjects that may be entered by each contestant, except that the limit for 16mm entries is a minimum of 100′ and for 8 mm 30′′,
The one strict rule that applies, however is that no professional help is received in the taking of the picture. This does not include titles. Complete freedom in choice of subject is given but the entries should be marked Class A or B :--
Class A prizes will be given for the best allround picture judged on composition, scenario, editing and continuity.
י.
Class B prizes will be given for the best photographic technique in unedited Sims (several complete" lengths may be joined together but may not be cut.)
Class A 1st prize BK. $100.00-
· 2nd prize H.K.1 78.00
Brd prize H.K. * 50.00
Glass B 1st prize H.K. $75 00 and 2nd prize # K. 150.00 Ard prize B.X. $25.00.
The prizes will be in the form of vouchers exchangeable at the FILMO DEPOT for goods of the values shown above (filmis excepted).
The prizes will be awarded on March 15th, at a time and place to be annonnsed in the South China Morning Post and Hong Kong Daily Press on March 10th, 1987.
Wherever you see, if you think that any of your footage is above average, send it in, it may be better than you think, You have enough time to put your best picture into shape for entry.
An Honorary Secretary will be elected from Members of the judging 'committee who will receive all entries and allet an' entry number. This number only will appear at time of screening and judging will conse- quently be unbiased.
Please remember your filma must be in the office not later than Feb 7, 1937, addressed to the Honorary Becretary, Movie Makers Contest clo Filmo Depot, Marina Rouss, Hoom No. 213, Hong Kong,
Filmas sent in at owners risk, but every care will be taken to syoid damage.
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