1908-12-25 — Page 5

The Yarn Dispute.

JUDGMENT FOR DEFENDANT.

STAY-OF-EXECUTION GRANTED.

1:

In the Supreme Court, last Wednesday after moon, the Chief Justice, Sir Francis Piggott, delivered bis judgment in the action brought by › Messrs. S. J. David and Company against their compradors (Mr. Chen Ut Chiu) to recover the is 5648,516.67 and interest at the rate of 58 per centom per annum from the date the writ was issued and until payment or judgment, This large claim was alleged to have arisen in Leannection with dealings in cotton yarn, for which, the plaintiffs alleged, the compradore WAN liable.

to

THE HONGKONG TELEGRAPH FRIDAY DECEMBER 1908.

büt in these evania Judgment in this action and did not galiniyat

•Then in thesa ́OPOLIT"t only the mortgages will re-assign the premises by execution. The mortgagee's fight is fademp to the mortgagor, ka Vaba tion;" but what-is-the-value of the equity of

of male on giving ose month's notice of the above demands; also a excess of the value of the security? Again tha covenant by the mortgagor, in the event of the personal covensat in mortgagas for loans is property depreciating in value, to pay the dif- said to be implied, and the security collateral ference between 545,000 and $55,000, at which but this is because there is in fact a loan, and value the property mortgaged had apparently the mortgage.bas been given as security for bean assessed. Thate is no personal carenant repayment. There is outside the ordinary to pay the deficiency, above alluded to. mortgage the fact that a lean has been given But there is a reference to an agreement al "Every mortgage implica a loan; avery ready prepared, to be signed immediately after loan debt, and although there were no the execution of the mortgage, which: appests covenant of bond the personal estate of as part of the consideration for the mortgage, the borrower must remain liable to pay off the other part being the compliance by the the mortgage (Coote page to) which means plaintiff fra with the request of the defendast obviously the debt implied in the mortgage to secure the loan. Now, Rypossible to to employ him as compridare,

The agreement of even date recites the most draw any analogy between this doctrine, and KARG: and that in order to farther provide the the mortgage given to guarantee the perform security the defendant had deposited the sum

nace of suretyship? It seems to me that it is of $55,000 to be held by the sim on the condiIt seems to the just possible that the case of

here that the plaintiff might possibly succeed tions appearing in the agreement."

Exparte Bishop, to which I referred in Chau but this was not argued and 1 count my Ki's case, might carry the plaintiff through ; self devise the argument if there is one. ¿can only express such opinion on the Las analogy as occurs to me.. I should be

JanThe defendant entered a counter-claim

recerver the sum of $5,000, alleged to have bean deposited with them. This was denied.

Mr. H/E Pollock, K.C. Instructed by Mr. A: GF Jackson (of Messrs. Juhasou, Stokes and for yeark Paragraph 8 is the importast

By this agreement the compradore is engaged: Master) appeared for the plaintiffs. The declause: it provides, is so far as it is material.to fendant was represented by Sir Henry Berkalay the present action, as follows:- xic, with whom was Mr. J. Scott Harston (of

The $55,000 is to be held by the firm as part "Messta, Ewans and Halston).

me

customer;

PENINSULAR AND ORIENTAL STEAM NAVIGATION CO.

HALY-YEARLY, DIVIDEND,

INUATION IN CHINAS

#CO7ZON FARNE

473

DECREASED OUTRUT IN JAPAN.

In to fourly days that followed the accesslon of the youthlal Emperor Hanan Tong and the transfer of the 'rains of government (into ŝthe The silver market, which had bean: lapri hands of Prince Chan there was strong reasoning, declined again by 3-15, on Saturday," and for taking an optimistic view of the situation in negotiatious for a large export transaction which At the 68th ordinary general meeting of the Peking. Nevertheless: it, buds to be acknows had been in progress were suspended. I Peninsular & Oriental Steam Navigation Com-edged that there was some room: for anxiety feared in some quarters that silver may we dewa pany which was to be held on the 11th Dec in view of the fact that considerable ignorance below and Amarican raw cotton was advised ember, the directors, after providing for the prevailed regarding the relations of the Regent at 40 sen lower on Saturday. This comblad usual dividend at the rate of 5 per cent. par and H. Yean Shih-kai. The days of strictest with the lower price of silver, discouraged

e preferred stock, were to recom

mourning, however, bave come to an end and buyers, and quotations on the Diaki Yarn-Reg sanum on the mend a dividend on the deferred stock of nothing has taken place in the interval suggen change opeand-low. But rates being consider- per cent, for the six months, and a bonus of 3 Live of any hostility between the two. On the ed excessivaly low, slight improvement was per cent, making with the interim dividend of contrary an important adict has been lied seen later, and the closing pricas as compared with those of the preceding day wara un fol. i per cent, paid in June, a distribution on the proclaiming complete cestinulty of palley

lowsto deferred stock of 1 per cent, for the year, on a regard to the question of a constitution and, total distribution of 9 per cent on the paid-up accordingly, practically all cause for anxiety may be held to have disappeared. For, if there capital.

is one name more closely associated with the reform movement than any other, it is that of Yuan Shib-kai, and it must be assumed that bis position remains unshaken, while his aime | ars theso also of Prince Chus and the now régime. The edict of December 3 has, in fact, greatly clarified the situation. In is the Em- pira ir atgured that the promise of constitutional goverment given in the edict of August 37 will be redeemed in the eighth year of Hsuan Tung,

THE SUGAR TAXATION,

INCREASED TAX. LEADS TO REDUCED RECEIPTS IN JAPAN.

tha

in

December delivery Jaunkry February

Dec, 12, Dec. 1. Y101.55 VIOLyo

102.90 || 101,0

The suspension of night work, or of the partial operation of spindias, an agreed among spin- ning mille this year, has resulted in a marked decrease in the output of yarn. According to the deshi, the total output of yara from January to the end of last month amounted to 86187 bales. Taking the production for this month at 75,000, the total for the year will not exceed

remedies agreed upon for enforcing the obliged in the mortgage becomes evidence of the certainly cannot, amouran ?it. So the mortgage business is experiencing great difficulties. If periments inaugurated by Yuna Shih-kai at down the output..

yet the

m001.

express references

THE KABAOKA SPINNING COMPANY. „The Karaoka Spioning Company, which bar transferred its business, machinery, and plast to the Fokushima Spinning Company of Osike,

in dividend to shareholders at the rate of about pany will be able to distribute about Y150,000 20 per Yo share. The capital of the com pany was Y400,000 all paid up.

THE SETTSU SPINNING COMPANY, ZA The Osaka Shimpo, observes that the Selliu Spinning Company, which is exclusively on- gaged in splening couise yarn for export, -not concerning itself with weaving, has no MELES from the inactivity of the export of yarn. The of offsetting the falling-off to profit resulting company has locked up about Y1,300,000 on the construction of the Akashi mill, in con sequence, the net profit for the present period "of the company has fallen of being not more than Ys5,000, which renders it very difficolt for the company to distribute a’dividend satis- factory to shareholders, the majority of whom rely on a dividend at the rate of 20 per cept., which was the amount distributed for the last period. However, the Company' bilog equipped with an ample tierve for the equalisation of dividend, the board of directors has decided to add to the profit Y53,obo repre secting the surplus brought over, and Y50,000. drawn from the reserto for equalization of dividend, which bas accumulated to "Yodo,boo, making a total of about Ya38,000. Of his sum: Y20,000 is to be placed to the reserve and 173,500 to be distributed among shareholders as a dividend (at the rate of about 30 per cent. per annum), the balance of about Y44,600 torg carried forward. The now Akathi mill of the company is expected to be completed by Mitch or April next, and the schidery is now being even with a dividend equalisation fond in t istence, to make so large a distribution sa usta! when such an unsatisfactory season-hias” been- experienced.

|cise, obligation; that nothing can be found Instance. With regard to the case of Er foreign togar is subject to the payment "of \ azfinitely' 'promising a constitution in ning Linstalled,” It seems a very short-sighted policy,

The Chaka Manichi points out that the pre- In delivering his judgment; the Chief fustice security for the dua payment of all monies for 'bound to hold that every such agreement asdiction that the increase in the tax on sugar - and thus the ground in cut away from under 877,000 bales, a decrease of 107,000 hiles on

• suid :—Messre; David & Co. are suing Chan Ut the time being owing to the firm by the compra- the one before ma implies they existance of early this year would more likely reduce thad feat of those who may have been inclined | the figures for last year, and is eyan less in com "Chiu, the late compradore of the firm, for losses dareunder and by virtue of the recited mortgage compradore: that every compradore guarantees increase the revenue from this source has

to make "reform" a justification for revelation. parison with the figures for coo, which amonst incurred by them in their dealings with Chinese or of the agreement, and all such moneys may be all his firm's losses with Chinese customers;

unfortunately been realised," "The advance in customers which it is alleged were guaranteed retained out of the $55,000; but notwithstand and that therefore an action lies to recover the price of sugar consequent on the increased Today it would seem, indeed, as if the dangered to 545,000 bales, and for 1905, when the by the defendant. Before coming to the real ing this the compradore shall be responsible for these loracs, that is, to enforce the suretyship tax has resulted in a decrease in consumption, of revolution had been exaggerated; but it can. Dalpst was 905,000 bales. The export of yara not be overlooked, that some danger certainly this year has been very unsatisfactory. Toal question involved in the case there are a few and make good to the firm all such moneya | outside the mbitgage. "So: we comeback 10 and it is now reported that the Government, wisted, and it would probably have been in. shipments up to the and of last month amodote preliminary questions which must be disposed as aforesaid whether the same shall not exceed the point from which we started. I cannot at failing to obtain the estimated amount of

in amount the value al proceeds of sale of the present assume without more that these are the revenue from the Sugar-tax, has been exercis.creased, if the conduct of stairs in Peking ed to 151,446 bales. Taking the shipment this ..of

It was argued that the liability of the defen-premises mortgaged by the recited mortgage duties of the compradore. I cannot at preing a more stringent examination than ever of had been less able. The recent decree canbot month at 10,000 bales, the total for the year dant flowed from the nature of the arrange and the said $55,or The words "all such

sent say, otherwise than colloquially, that the imported sugar, with a view to offsetting the fail to be regarded as a powerful guarnutes of will not exceed 162,000 bales, showing a de- crease of 65,000 bales from that of last year, ment between the parties, and hat it was im moneys as aforesaid" mean all moneys due compradorn is surety for the firm's losses in defcit, in the revenue caused by the falling-off peace.

that

hold of a new saign, in which re- At the threshold

and of about 106,000 bales as compared with spotted in the word "Compradore" itself. As under the mortgage or the agreement, As their dealings with Chiness.

in the consumption of the article. The rate of at present advised. I do not think this is liave. said the mortgage contain no. personal would be to beg the questions in insse, which excise is particularly beavy, on the third and form and constitutionalism are likely to be 1906, while the value shows a decrease of about

most absorbing subjects, the moment is oppor- Y2,000,000 and Y10,000,000 respectivaly possible. I think if my judgment in Chan Ki's coreaant to pay the amount of the losses in are whether he is surety if so what fourth qualities of refined sugar as defined in caso (which was referred to in support of the curred by the firm in their dealings with Chinese is the extent of the suretyship? What are the

tune for a brief survey of the work already ac garding the export of collen fabrics, the Osaka the Sugar tax Law. On the third,

quality 'customers ; and the question which somewhat obligations he has undertaken? What arn the rate is Y7.50 and on the fourth quality Yto.complished in this direction during the last two journal noiss that the total value of the fabrics nargument) is read as it was intended, it will be warplexed me and which I' directed 10 be ra- the remedias agreed to for enforcing these Taking the present market valus of untaxed years The"starting "point was the return of shipped this year up to the end of October was -

found that 1 carefully guarded myself from

With the exception of cation using words from which such an inference agreement can of upligations? The compradore systemy is based sugar at Yo go. per too kin, the ratio of the tax the Travelling Cent of ext 12,000,000.

be gathered. The utmost that the Court agreement can be treated as of the same effect upon express agreement, that is to say, agree on the third quality is 116 per cent, and that and the appointment of a Commission to ex crepe, all other descriptions showed nca: som to know is that the compradores, and as if it were in fact the parsoca! mente for modertaking liability have been en- on the fourth quality, about 160 per cent. Of amine their reports. On November 6 of that heavy decrease. The united afforts of >guarantees Chinese customers; but what I said covenant of the mongage introduced into the tered into between European firms and a Chi all commodities, with the exception of monopo. year came the first tangible result, which the spinning companies to maintain the

ness intermediary between them and the Chi- showed clearly that the extent of bis surety agreement. It struck me and still strikes

nese customers, and this intermediary has come goods, sugar is the only article on which a changed the names of some Boards, amalgamat market for yara by reducing the outpar has ship must be derived from the documents curious that this point was not taken origin.

tox in imposed higher than the original value.ed others, and enacted, fiist, that Boards were, in checked the export and forced up the price of to be called a "compradore," Test it this Sugar is an article indispensable to buman

future, to hays one President, and four Vice-cotton fabrics at home....In this way the com in which the agreement is drawn up: ally and the case resfelt on it; but the case was and must now add (subject to what put in the following way this reference in the way-are all compradores liable for losses life, but the advance in price is fast reducing Presidents, and secondly, that no distinction paniss lost more by the decrease of export of I shall say presently on this point) as also the agreement to payment of money owing under caused by dealings with Chinese customers the demand, which is being met by the produc. was, henceforth, to be made between Manchuyaru and fabrics than they gained in the en-

banced market price of yarn through, keeping- the mortgage has this effect-that what is stat known or unknown? I really don't know, and tion of inferior qualities. As a resalt the sugar and Chinese. A series of constitutional ex tion of the surety. But even had gone fur.

Tientsin followed, among which may be ther, I could not hold myself bound by what I obligations which the deleudant has taken up here does not determine the extent of the the demand for suger is materially reduced, may have said in a former case on a point himself as compradore; it prevents him from liability, and by the agreement defendant the revenue from this-source will show a enumerated the establishment of associations which was not argued in that case, even though saying that be is not responsible for any mat simply covenants to pay the liability under the heavy deficit, even though the excise be, for discussing all matters connected with the what I said was material, and not abiter, tors which are not set out in the mortgage. mortgage, therefore the liability is left in thei

A good deal of stress was laid on the fact He cannot contend that these things which air. If then, the agreement is ineffectual to increased. The Government will have to devisa introduction of local self-government, and a of a Hall for expounding - that there had been an admission of liability are included in the redemption clause are not charge the defendant with any actual.or deter means to balance the deficit in the revenue, RODCIAL Oguration of judicial, procedate has dissplved.” It is expected, that the ́esta on the part of the defendant, in a declaration part of the duties or obligations. After hear-

mined liability, and if there is no personal and the authorities are no doubt within thoir with the

ported sugan It is, however, by no means easy In July 1907 were held the preliminary made by him is support of bis petition to being the argument am disposed to think covenant in the mortgage, nor anything in the rights in exercising stricter examination of im the theory and practice of self-government, adjudged bankrupt, oo which patition the that the plaintiffs' care cannot be put in any combined documents which can be construed for ordinary Customs officials to distinguish the and final alectiqus to the Local Govern Court made no order. I laid down in Wong Ka oiler that this ingenious way. On behalf of into a personal covenant the only remedy various qualities of angar according to the Dutchment Office, which was constituted ou Cheang's casetbat the utmost lengthto which the the defendant it was contended that although which the plaintiff has is that which the tendard of colour. Even those who have been basis of popular representation guided by Jaw goes in the way of holding a man bound the two documents were to be read together, mortgage gives him against the property engaged in the sugar industry find it extremely official alecticism. The interest of the story now returns to Paking where, it will semember -by what he has assented to be a fact when it is

in the agreement to which he has taken as security; and there difficult to distinguish between Nos. 7 and 8 or -ant fact, is in the doctrine of estoppel if it the mortgage cannot be ignored, and that these fore the proceeds of the property become Nos. 15 and 16. It is an injustice to importers ad, avents, during the period of H.E. Yuan does not fall within that doctrine, that is to say, are really disfunctive and coi conjunctive. And the limit of th compra "ere's liability; if the authorities prosecute them for mak- Shikai's experiment, had tended to favour

my mind If no one has acted on the assertion to his the result of this is that clause of the agree. What is so extraordinary to

which has been imported and passed by

decree on Racial Jealousies, followed, three prejudice, be may show that it is not a fact, meat is no more than sp, agreement to be in that security being intended to be taken for a false declaration, when a quality the Reactionaries. On August to comes the days afterwards, by one inaugurating a Da the moneys owing under the fulfilment of the obligations of the com In this case believing himself to be liable for responsible for

the authorities as first quality is, after the losses incurred by the firm, he made the the-mortgage-which brings us back to thepradore, as surely of the Chinese customers, wards, as the result of stricter examination, department for drawing up regulations for Con- statement in the abortive bankruptcy proceed. point from which we started. This conten- the liabilities which he is allowed le lucut orclared by them to be a superior-brand-Such stitutional Government." Shortly afterwards, Ings. He has since been advised that he istion then takes this form that the only the supposed basis of the suretyship far exceed

a procedure is calculated to kill business, This Yund' Shib-kei was summoned to the Capital, not liable in law; is he to be debarred from way in which the moneys owing under a mort the amount of the security. It is just because year the Import of refined sug shows a heavy On September 20 an assembly of Ministers was asking the Court to determine the question of Rage can be ascertained is by foreclosure: and of this-assuming it to have been the inten

decrease, but, owing to largo supplies coming appointed, under the presidency of Prince P'u forward to avoid the new duties, the import of daw? Surely not. But in truth the admission as there is no covenant to pay the losses incurrtion of the parties that the personal covenan

Lua and the Grand Secretary Sun Chia-pai, to in this case was only insisted on with the objected by the firm, the remedy is limited to fore should have been inserted; and it is because of crude sugar has in no way decreased, though prepare a scheme for Parliamentary Govern- of making the defendant begin. I think closure, and there is no liability beyond the this that this complicated question hos. had to

a heavy falling-off will undoubtedly be seen in meat. This was followed, in October, by a decree there is no warrant for, this contention actual security taken. As it is important to be argued. I have been compelled to express this direction before long. As the result of the authorizing the establishment. of provincial butaiho, case has developed itself emphasise the real issue raised by the defend.

an opinion upon it with such materials as were development of the sugar industry is Formosa, local assemblies for the study of Government it seems clear that there is essentially and will amplify this contention it is not laid before me, together with anch light as my

sugar syrup produced in Formosa baxt your affairs, to be modelled on the one existing in legal question only involved, and so long as merely that as the action depends on reference own researches among the authorities threw will reach about 80,000,000 :kin, Asam Peking, and in December these assemblies I can get at the true faw.which ought to decide in the agreement or a condition of the right of upon it. I cannot profess to be satisfied with

ing 20,000,000 kip to be consomed in Formete, were distinctly said to be "intended as the the question I do not much care who begins. redemption, the proper form of the action is the result because i am uncertain whether

the remaining 60,000,000 kin will be im foundation of the future, Parliament, No very definite advance on this was made, during the foreclosure instead of an action on the agres have got to the bottom of the matter, for the parted into Japan. Besides, the greater por The admission has, however, a bearing of the case which I think it advisable to refer to It is not merely that because the law of mortgages goes far back into the car tion of brown sugar which is produced in first six months of Ic08, but on July 22 a decree #although, it was not think put forward in ar agreement says that the compradore agrees to liest decisions of the Courts, and it may bt Formoss, to the amount of about 70,000,000 sanctioned the regulations drawn up by Princh gnment. Does not this admission show what pay what is for the time found owing under that I have overlooked some occult principle kin, will also be brought in.. The development Ching and Prince Fu Lun in connection with was the real intention of the parties? I must the mortgage therefore the mortgage procedure which would tell in the plaintiff's favour. All of sugar production in Formosa will seriously the inauguration of Provincial Assemblies, confess that ikis question. troubles me a little for finding out what is due under the mortgage

I can say is that in the event of the case going affect the importation of Java sugar, a decrease membership of which was made to depend must be adopted. It goes much further: it ia further I must invite the learned Counsel an

in which will provide the Government with upon conditions very similar to those adopted

· Dan I give judgment against what is the, 1 will assamo, clear intention of the parties? 1 do that this part of the agreement is practically gaged to a more profound study of the early serious cause for perturbation. As is knowe, by Yuan Shih-kai at Tientsin.

useless as a clause Importing of itself any pre- law than was possible before a Count of First

Finally, on August 27, came the decree got think that there is any rals of law, however,

excise in addition to the import duty. A re which requires a Court to enforce the intention of the parties, assuming it to be ascertained owing under the mortgage, as there is no per parte Bishop to which have referred, alfunds, contrary to the meaning of the words socal covenant, but that the result of it is to must not be understood as expressing any duction in this direction, coupled with an.io. years and outlining the work to be a

crease in Formosan sugar, which is admitted complished during the interval. It is this as used in the agreement. The law requires leave the remedies under the mortgage pre opinion one way or the other as to its

received confirmation at the hands of the new the Court to seek the intention of the parties cistly as they are to be found in the mortgage: bearing on this case, nor have I forthed any free of duty and dealt with leniently as regards beacon light of the reform party that has now régime through the decree of December 3 venue from suget. from the words they have to express that inten- that is to say that if this condition for redemp. opinion. I do not think that I should be justis excise, will seriously affect the Government re-

tion is not complied with, the remedy and the fied in directing a re-argument, on the point, The price of sugar is in no other country Whatever opinion may be entertained regard

A general meeting of the Cotton Spinners! tian, and I think I am right in saying that, 10

Association held on the, 12th pinstant, bas take an extreme case, even if a man know that only remedy is provided by the mortgage it. It can be taken on appeal if the plaintiff is so in the world higher than in Japan, It is, ing the readiness of China within: the period certain liabilities wore intended to be ander self, which is foreclosure; and that therefore advised With segard to the counter-claim,

moreover, disproportionately high having named for constitutional government, it has to

adopted a measure to excourage the export of taken by him when he signed the agreement the remedy in the absence of express covenant by no means follows from what i have said regard to the conditions. of life prevailing be admitted that it forms the only feasible goal yarn, which is to come into operation on the ist next month, presumably, to take the place, rain question, yet if he finds that the agreement to pay the actual amount of the losses is that the defendant is necessarily entitled to among the Japanese at present, and; it for a reform movement. Before the lapse of amount of the security judgment on the counter-claim. If the addiis only optural that the consumption of pion years the country will be in a better

of the issue of prize: tickets ». The planēja, ka assigned does not impose that liability on him, limited to the

taken. The cases and books throw no tindal cash security of 555,000 was so linked on sugar, so far from increasing, must be checked position to gauge ccurately its real require follows:-Taking, the lotal export of gain at he is not bound, there being, of course, po

light on the question the only passage I can with the security given by the mortgage that if it does not entirely dwindle away. The coa- ments, and possibly to evolve some form of 12,000 bales, per month, and dividing thin mala Hides on his part.

Malé manters disposed of, it is clear that the find which helps in any way is the statement in the conditions of the mortgags were also sumption of ame (malt) is extending enormous government better suited to the Eastern gequantity among the spinning companies in pro- action must rest on express agreement: and in Coote (p. 9) that it is clear that a mortgage the conditions for releasing the security, then

as people are fast forsaking sugar for the than a frank imitation of unrelieved Western portion to the amount,skipped by each com order to prove this two documents were put in does not itself imply a covenant. But if this the plaintiff could hold the $55,000 until

In the meantime, it is satisfactory of even date 30th January, 1902. A mortgage is so then it disposes of the idea that the condi- the losses resulting from dealings wi

stances s fanher increase in the demand for find that the steps, if any, being taken along the tions for redemptiso, can be treated as cover- Chiness customers were paid. But although I sogar in this country is quite out of the ques-path of progress are under peaceful conditions contain leasehold property by the defendant

have searched through both documents I can tion. It is unfortunate that the Government is The success of the movement depends to to Mr. J. David, whom for conveniencsants. I besitate to say that this carries.us the

ឌ no lile extent upon its ability to proceed caus ill describe mortgagee on behalf of the firm with way towards solving the difficulties in the find only a few sentences which point that placed in difficulties by the decrease shown David & Co, and agreement between the present case; but certainly goes a long way way, but none which justify me in coming to the reventa from sugar, bat its distress might tiously. We may surely regard it as a hopeful defendant and the firm, e, which an amount of twedde meeting the argument "that what is that conclusion. Clause 1 of the agreement have been avoided had it refrained from adopt. amen for the new era in China that the Gover

further securi stated is the mortgage becomes evidence of refers to the fulfilment of the obligations of the $55,000 was deposited by way o

result-Japan Chronicle, 287 with regard to the mortgage, the form of it the obligations which the defendant has taken, compradore, that is to say, the obligations of the ing a measure which could lead to no other ment should have decided to announce to the the quantity prascribed' without putting into

one of the partners being the mortgages and UDO himself as mortgagor. If they are not mortgage and the agreement, which only raises got the firm-1 must confess seems to be pecul covenacts There cannot be evidence of co- the same question as is raised in the plaintiff's fiar: in order, however, that no technicality vecais; bat are nothing more than what case, and which I bave already decided. Defen should stand in the way of the determination they profess to be-conditions of redemption. dant must therefore have judgment with costs of the actual rights of the parties 1 suggested The puzzle is to find out how they can by mere en claim and for his conster claim. that Mr. J. David should be added as plain reference in the agreement to be liable for the "tiff in the action. This seems to me to moneya due under the mortgage became any ***' boʻn:ʼlekk. advisable, as although the agree thing more than they really are even though ment is the document aned on,, the most these words are added, whether these moneys gageller at the bottom of the action exceed is amount the value of the proceeds of

the sale of the premises and the $55,co secur by reason of the cross-references between the Two documents. Now with regard to the me ty of the agreement, a something which is not thod by which the agreement has been effected, owing under the mortgage can become some. I am bound to say that I cannot see the neces thing due under the agreement. How can an sity for this complicated piece of conveyancing agreement to pay what is owing under the for it seems to carry out what I will assume to mortgage become a real agreement to pay a

In stating that one of the principal articles ba'clear by what is very manifestly, obscure. definite som en there is nothing owing Clasu per abscurum, The plaintiff's case is under the mortgage? It seems to me that of native import into the North China pro- that the compradore was to undertake certain to call these conditions of redemption vinces is sugar, Vice-Consul Ernest Vollmer obligations, and he was to give certain secarity evidence of the compradore's obligations" is writes from Tsingtau :-Although among the

to put them on lower plane than is essențial | average native consumption of this article may The man gave his name 83 Yamada Katsu

It appears, that marina, produze merchanta by way of mortgage. There seams to be no

The minutes of the last meeting were read in Osaka are, in difficulties The Osaka Jiji very great difficulty in devising the necessary to support the action. The greenseet relers be regarded as a luxury, it is nevertheless laro, aged 33, and a native of Tamba province,

and confirmed..

Boost notes that the regulations of the Osaka Murība form of deeds; an agreement sorting out the to them as obligations, and these they are not, food product which more and more people He stated that he came to Kobe about a year

A letter was rand from Mr. C. A. V. Bowra || Produce Syndicate, Which was recently sonorid, obligations, and a mortgage in which the ful and unless they are obligations they cannot be are getting to use and which is growing go to find work and was engaged by the Alment of the obligations is made the conditioned upon. Some stress was laid on clause-3 indispensable to an ever-increasing part of Kawasaki Company, for their cast-iron worki of redemption.

The additional security by way of the agreement, which provides that the en- the population. All of the sugar now in on the banks of the Hyogo Canal, at the rate resigning his seat on the Council on his trans provide that any dealer of marine (pendoca of cash deposit does not add much to the comtries in the firm's books are to be conclusive ess is cane, coming from the southern pro. of 98 sen a day. He lived with his father, at fer from the port. The secretary was directed, he has Contributed a certain fized semito plexity of the matter. Instead of this, how evidence against the compradore both of the vinces of the Empire, with Swalow as the Hyogo, his mother being is the service of in acknowledging receipt, to express to Mr. the ads of the syndicate is eligible to des Bowra the Council's regret at his departure, I Lome a member. Ily this arrangement, berkata, And thanking him for the services he had ever, some of the terms of the arrangement fact of sales and of losses incurred thereunder, leading source of supply for Shantung. Vore family at Oaks. Yamada learned that evil between the compradore and the firm am em- But this cannot turn the other clauses of the faed brown sugar is still far in the lead, but things were being said about him, and that his -bodied in the agreement, and some are made agreement into something which they are at the cleaner and better refined white product was likely to love his job. This so depressed dered the community dating the main contributing only Vaco to the fand are low month. Many brokers bave gone beyond (Beir "A lettof"was' Yokd" from Land Commis-resources and bars been reduced to [vers Joconditions of redemption, and the two docu-The clause does not create liability, but simply also shows & steady gain. Refineries a la him that he decided to put an end to his life by years, as a member of the Court presed, to do unlimited builds on credit for the nements are linked together by a saites of cross provides the machinery for ascertaining such lineated at Hongkong and Shanghai, while the some means or other, On the 5th instant

wormscom. It would unduly complicate this bility may oxist. It would operate codétermide japanese draws considerable part of the basic stopped way from work and resolved to sioners reporting their complation of the critical position on accotist of the deprittiba judgment if i ware to refer to any other term amount which would have to be paid as the mess to their country. They take the raw sugar. at no more food, and aahsisted on sake and valuation of property in the Settlement, and of trade. Recently, three marine prodice of the armngement than the one with which condition for redemption. The text books deal to their refineries in Japan, and after Temonade alone, hoping for death-every day, the secretary was instructed to write and thank brokers, failed and number of orbers are theraction is directly concerned property to the their labours in the dangerous pondon, while orch Mi The mortgage assigns certain

•sodard wlown p'the'talk'lu always? about repay. best customer. fm?'this', way, they secure for the last time as he hoped, and-Alen west matter, spus Police reported that Japanese papars repart that the Motsel mortgagon, with the following, among other, ment of the wrincipal'sun, and they go so far profie, from the transportation to and from and purchased a packing onto. Taking a con- BELA KNY Khatiwvery mortgage tropliers loud, Japan, for processing the sogar, and naturally lioith him he carried the box to Ege-rama U provisos for: ráděl poliz, meg mas m

If the compradore shall on demand pay to which, it is clear; this mongago: doas, not. Kalia- take a host on the article itself it in Uthe arm way deficiency in the price of goods Then the other mortgage terms with which we probable that several small refinsties will soon by the firm in connexion with contracts are familiar are not very appropriate herds the be erected In Swalow by natives, who control flamada by the Arm with Chinese buyers whether mortgages's night le soreclosure; he express the bulk of the trade. While, cane sugar alope www.ris incurred by breach of contract or declines on exercises as the freed hichever competition from best and perry has depreciated and he prefere to G erklopkes for in fuomulikke (the compradoré shall on demand pay car Estie other illeged "agi "other moneys in certaku'other eventualition am not sure what he thi

I do not concern on in this action,

[the mortgage when and

it

At the conclusion of the judgment,Mr.Pollock asked for a stay of execution in order to allow the parties to consider the case. Bir Henry Berkeley had no objection,

A stay of execution was granted for three mouths,

CHINESE CONSUMPTION.

NHOF SUGAR,

་་་་་

ly,

<

BURIBD ALIVE BY REQUEST.

AN EXTRAORDINARY STORY,

COTTON YARN EXPORT ENCOURAGEMENT,

last, the company “which ships, more. Uan the quantity allotted inay, operate spindles lylog, ale to a inficient artent continue producing "such excess, provided that the yarn so produced be shipped within 'a month." A compaɛy which ships,mórn than

country its intention to provide a tutor of Esglish for the young Emperor. Among the operation spindler lying idle, will receira an many and violent departures from did tradiscouragement bounty of Y3 to Y's on, such bals so shipped The money required for tions none is perhaps.mnra armptomatic has this. If the new Regent coulents himself bounty will be obtained by imposing a payment merely with maintaining the rate of progress on coarse yaro 10's and under produced ch already achieved by the present movement, the company will be at liberty to produce alt, and finer by operating its spindles lying,idle. The prospect of a permanent edifice of reform being real result of this schemes will be to rains the erected on a solid foundation, when the Em price of yarn in the home market andA LAUKIRA- The Japan Chronicle, af tuth inst,, says: Onperor, conversant with a foreign language; as- Wednesday afternoon watchman was passing sumes the government, is of the brightest.-W. pose an additional burden on the consumer

alse to sacrifice profits in order to encourage by Ege-yams, a small hill on, the banks of the

the export trade. Either way, the meager is old Minatogawa, when he came across a

wholly against the teaching of economica mound of earth with a pipe protruding from the

"Japan Chrenicia. top.” His curiosity being aroused, the watch man began digging, to sea what had been hidden there, and 8000 came across a large pa wooden box with a lid nailed, on to the top. This being prised off, a man crawled out, who was at once taken to the police station to give an account of himself.

and and a large hole about six feet deep, in which be pet the box Giejug, the coalie 5 sebbik abi and his word as keepsanes, be steps pod into the box, while the coolin piled on the according to sit directions and filled up the hole with earth leaving a pipe to supply the Jan with Erents mir until he Marved 19 dasth, o cane of best STHA MAN WÉs kandad over to the care of his

C. D. News

KOLANGSO (AMOF) MUNICIPAL COUNCIL.

Minutes of a meeting of the Council, held at the Board Room, on the 1st December, 1968,

Present:--Messrs. W. H, Wallace (chair. man)JS-Fenwick; Huang "Ta'an-chew, W. Krass, S, Okuyama, W. Wilson and the secretary,

The Superintendenti

THE MARINE PRODUCE SINDUSTRY.

FAILURES IN OSAKA..

coming cantionE

only one case, that of an segault, bad quan heard of Motegi, Hagh district, Toc In the Mixed Cpart sfoce the last meeting, as the suspended payment on the 8t Count had been closed owing to the Chinese stated that the adopted $20. official world being la mourning for the late Heibel President of the Dowager Empes and Emperor, der kg in a share speculating

Mr Hachiru signed) W. HA WALLACE,

Chairman beled ringto

BAN GA BERKELEY, MITCHELL,

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