1911-10-14 — Page 3

THE RIGHTS, DUTIES AND LIABILITIES OF SHAREBROKERS.

[Copyright]

(Continued from last Saturday)

་

THE HONGKONG TELEGRAPH SATURDAY OCTOBER 1911

"Stock Exchango"; and provision is mndo in the rules for the method of completing share transactions, and it is further

Prepaid Advertisements.

$2 for one wook,

provided that "in dealings be-26 WORDS $1 for 8 insertions or

tween menibers no brokerage "shall be charged.'

!

two

11

Public Company

CANTON INSURANCE OFFICE LIMITED.

THE THIRTIETH ORDINARY L...MEETING of Shareholders will'

Entimations

THE GENERAL ELECTRIC CO. OF CHINA, LTD.

Telephone 518.

be held at the Offices of the Undersigned 'elegrama on“ THURSDAY," the 19th October, "Sparkless

at Noox.

:

•

16, Des Vaux Rd.,

Hongkong.

BOARD AND RESIDENCE

HOMEVI LE,' Morrison Hill,

• 8¡ lendid view of the harbour, 10 minutos from lost. Ofoo by electric cars; entrance 168 Wanchai Bord, Apply at the li 1880. [1280, STENOURAPHER: Au«ican Lady Books position with a reliable firm. Willing to enter into contrast.

General Agents. Address: Mrs. T. M. KENNY Hongkong, 97th-Septer 1011.-1408-| Fox 197, Maulla, 11

The TRANSFER BOOKS of the HEAD OFFICE 7 JINKEE ROAD SHANGHAI. Company will be CLOSED- from the DIRECT AGENTS OF THE MANUFACTURERS | 6th to the 19th Cot ber, both days

inclusiva.

IN

+

+

Formations

F1138

THE MATTRE OF THE COM- PANIES CONSOLIDATION AUT 1908 (ENULAN 13),

AND

THE MATTER OF THE NATIONAL BANK OF CHINA, LTD. (IN LIQUIDATION),

HOLDERS, &o.

な

... OF ALL KINDS OF

JARDINE, MATHESON & CO., ELECTRICAL MACHINERY, APPARATUS, FITTING

ACCESSORIES, TELEPHONES, Wires and

LTD.

UULA-KALUMPONG RUBBER ESTATES, LIMITED, NOTICE TO SHAREHOLDERS.

NOTICE is horoby given that the

·TRANSFER BOOKS-of-tbe Company will be CLOSED from the 23rd to 31st Oqwbar, 1911, both days

inalu fre

By Order of the Directors,

LOWE, BINGHAM &

MATTHEWS. Colonial Register,

Hongkong, 1014 Qet., 1911.

[1435

From the wording of the rules quoted it is obvious that it must Where the principal bands to have been contemplated, by the his broker money to pay for shares members of the Shanghai contracted to be purchased by liim Stock Exchange that there should through that broker, the latter is a exist, 09 in England trustee for his principal ju respecteriptions of membera-brokers of the money so paid, which, if it

obbers. The words, "wife- is misapplied, can be followed by

er for account of `a, member the principal. This was held by effecting it" in the rules of the the Court of Appeal in the case of London Stock Exohango refer to Cook r. Strachun 4 Ch. D. 123, bargains made on their own where a brokor having instructions account by jobbers, and the words to sell certain stock, and to piror for account of a principal chusu other stock with the pro- rofer to harguins made by brokera coods, sold it and paid the pür-on bolalf of their principals; both 1 chaeo money into his own account jobbers and brokers living meni- at his bankers. He subsequently bors of the exchange. As already wentinto liquidation and the claim stated it has long been a rule of of the principal to so much of equity that a liroker cannot, as a the broker's credit balance at his brokor, dispose of his own shares bankors n was attributable to to his principal, and it is therefore the price of the stock sold was almost impossible to suppose allowed. It was similarly held in that the Shanghai Stock Ex- NOTICE TO CREDITORS, NOTE the case of flancock, Smile 41 chango, by making a precisely O.1, 456: An imperative duty similar rule in that of the London theroftro los upon a broker to Stock Exchange, contemplated apply for such purpose any ingey the recognition of a practise, on

Creditors of the above-named Janded to him, or received by the part of its members, of the Company, which is being voluntarily him, for a specific purpose. With sale by them of their own shares wound-up, are requind, on or before: rogard, however, to profits by way to their principals. It is not sug- SATURDAY, Sh December, 1911, of differences received by a share- gestel that any such practise being the day for that purpose fixed broker on behalf of his principal, exists, but it is believed that as by the Undersigned, to send their these have been hold by the Court in Hongkong so also in Shanghai, and addresses, and the parti of Appeal to be merely Book debts, there are no members of the culars of their douts or claims, and the forming part of the broker's ge- Stock Exchange who act solely if nus, tn the lenigned, The Liquid unes and addresses of their Solicitors, noralassote, and in respect of which as jobbers, and not as brokers ator of the said Company, either at Et. ho is only a debtor and not that is to say, as agents George's Tuilding, Chater Road. trustee (King & luttan (1900) 2 for their principals who in Hongkong, or Thoroar's Clambers Q. 13: 504).

struct them to buy or sell logcon Cont. Fenchurch Street, shares. This boing so, the words London, EC. (when either such The liabilities of a sharebroker in the tale quoted "whether for aisins will be paid or if not admitted in England, who is a member of account of a member effecting it" notice in writing from the said Liquid- the London Stock Exchange, are o a large extent defined by the can only be assumed to refer to ator will be given that they by their case where a broker contracts to Selleltore must come in and prove their Rulos of that sacinty. Although purchase shares on his own ac debts and alaims at suci tine and PARTICULARS OF THE LOTS. acting for a known principal in count, by way of investment; orice as ball be specified in spel buying or selling sheres, he with a view to selling them exuladal from the benefit of any distri notice) or in default thereof they will be himself personally liable under contracts entered into by him, on the circumstances, if it ja amved.

again to another broker. Undor bution mado before such debts aro behalf of such principal,, with fact that there are so members jobbers; and, in the event of the Shanghai Stock Ex-

Liabilities.

NICE is by given that the

A. R. LOWE,

liquidator.

his principal failing to provide change whose business is solely Hongkong. 14th Aug. 1918. (1818)

him with funds for the Turpose that of jobbers, it would seem to

of ombling him to carry out the have been better that there should contracts, he must himself pay have been omitted from the. Rule

- (To be continued.).

CONCERT.

NOTICE.

dy tablished ourselves nu!

G. C. MOXON.

JOHN W.TAYLOR:

Auctions.

PTIONS of the Lotting by Public

ARTICULARS And ..CONDI Auction Sale, to be held on MONDAY, 3 put, at the Office of the Public the 16th day of October, 1911, at Works Departraent, by Order of His Excellency the Governor, of Thres Lota of Crown Land at Shining Street in the Colony of Hongkang, for a term of 75 years, with the option of runarri at Crown Roat to be fixed by the Bur Teyor of His Majesty the king, for one further term of 76 years,

1000 אני

พย

JALITIJ

#

Inland

Lots Shin-Uing

and Gough

Hongkong, 2nd Oct., 1911, [1416 Hongkong, 7th Oct., 1911.

G

out of his own pocket, or be dethe words" whother for account the mutersigned have this clared a defaulter: The Courts a member effecting it, or for in England have recognized and acrest of a principal"; merely STOCK, SHARE ANDGENERAL enforced this rule, and have evon held that where a broker has been be fulfilled according to the rules ess under the style of MCXON and stating that every bug in nust BROKERS and will carry on buri- declared a defaulter on the Stock of the Stock Exchange. As-it TAYLOR at the offices recently o Exchange, in consequence of his stands, it almost necessarily upied by Messrs. F. 8. Kadoorio & own client's default, and where, loads persons to believe in tha, Queen's Buildings. Mater in accordance with other rules of existence of both jobbers and Road, Hongkobg.". the Stock Exchango, is assots brokers, as separato persons. have been handed over to, or collected by, other members, net- ing as official assignees, and dis- tributed amongst the creditors, this does not dischargohim from his liabilities, but legal procead- ings can afterwards be taken against him to recover the balance held-on the Hongkong Cricket Olah of his unpaid debts. So in Ground TO-NIGHT, the 14th Oc'o- the case of Ex- parle Ward (ber, 1911, at 9, 15^r.m. ̈(20, Ch. ̄D., 350) it was held Under the distinguished patronage of that jobbers were entitled to in Sir Frederick J. 1. Lugard stituie bankruptcy proceedings KC.M.G. C... D.5.0, and Major against a defaulting broker in General C. A. Anderson, C.B. debted to them, whose affaira had Mogar, The Robinson Piau G., Ltd.,

Tickets, $Ionel enn be obtained from, beon wound up, and whose assets web. 8. Montris & C., Ltd., at the had been collected and distribut Pavilion or from the Secretary. ed under the Stock Exchange Hongkong, 5th Oct. 19.11.1497 rules. In this case the broker |

HE ANNUAL GRAND PRO

· MENADE CONCERT will be

ANCE CO., LTD.

TEAD OFFICE, SHANGHAL

J. A Warde, Fan, Managing Director.

Hughes, Esq, Secrmary. .. Neill, Esq. Fl. Actuary,

4

Hongkong Ordinances and was-Lifa-Assurance companies Acte, England.

A strong British Corporation Registered under

had been instructed by a client CHINA MUTUAL LIFE INSUR- to buy a large numberof shares in a certain new Company. He ac- cordingly contracted to buy the shares from the jobbers, bat his principal failed to supply him with the necessary funds be fore the settling day, and he was consequently unable to full his contracts with the jobbers, and was declared a defaulter. The caso cited was referred to with approval by the House of Lords in the case of Mendelsohn_x. Rateliff (1904) A. O, 456, in which the same question arose as to whether jobbers could. take bankruptcy proceedings against a broker, who had been declared defaulter, and whose assets

Insurance in Forca ....................£30.572.465 ca ·· Acrets to read..... $87,9ja. *Income for Year

3,801,072.00.. 4.$40,050.00

Insurance Fund........ LEFFERTS KNOX, Esq.—listdet Manager, B. W, TAPE, Esq.-District Secretary, Hongko & Canton, Macao and the Philippines, Alexandra Buliding.

C. LAWDER, B, Inspector, Hongkong. Advisory Board, Hongkong 1 Sir Paul Chater, Ki..

Hanghong, ajal July, 1973. C.M.G., T., Hongb, Zaq, C. J. Lafrenta, Eiq,

Dro

SANITARY BOARD.

WARNING.

Sanitary Board desire to call the attention of the community to the fast that TYPHOID Favor i newhat more prevalent in Hongkong than is qual at this time of year. *

This disease is conveyed by pollated food and drink, and the public are warned, therefore to ho specially careful avoid unfiltered drinking war unboiled milk, raw-flla, cow-vegetables by flies. and food which may have been polluted

By Order,

W. BOWEN-ROWLANDS, Becretary,

To Let

TO LET

な

3

1308].

Cables, &c, &c.

RETAIL SUB-AGENTS

WM. C. JACK & CO., 14, Des Voeux Road, Hongkong.

SOUTH MANCHURIA A

RAILWAY

SHORTEST & QUICKEST ROUTE

BETWEEN

THE FAR EAST & EUROPE, và DAIRÉN.

SUMMER SCHEDULE.

I

(Effective from May 1, 1911)

THRICE WEEKLY EXPRESS TRAIN SERVICE, composed of xcellently equipped Bleeping, Dining and int Clans Cars, is oparted between Osiren and Changchun in, connection with the Trans-Slborian Express Trair ad with Dairen-Shanghai Direct Stenaar Service by the 8.8. Kobe Maru and “Saikio Maru" (osch 2,877 tons) na follows:--

NORTH BOUND.

Sun. Wed. FA.

[1481

EL Ulaza Fates

Shanghal (Stemmer) ..............1.v. $10. Dairen ("

Thuộc Hoa, But. Tues.

(S.M.R. Train)...LV.· 6:00 a.m.

¥14,95

Mukden

19

JunAl J... J.v.

1.50 p.m.

2.05 »

YiL50

Changchun (

...Ar.

8.80

R 9.60

*(Russian Train)....... Lv. : *9.30 „,. Harblo

9.10 4.10.

"

JA

Connecting at larbin with -

GODOWNS, 161 to 155, Prata

"CREGGAN, 89, The Peak,

THE HONG KONG LAND INVESTMENT & AGENCY CO.. LIMITED. Hongkong, 1st July, 1911. F15*

TO LET

ODOWN No. 51, DuDDELL

STRERT. Apply to---

THE HONGKONG LÄND

INVESTMENT & AGENCY

COMPANY LIMITED,

[61

Hongkong, 10th Oct., 1911. [1487 | Rongkong Ist July, 1911,

TO LET.

WM. POWELL, THE BUILDING sow is eye

LIMITED.

GENTS'

MEE CHEUNG. NECKWEAR,

had been collected and divided ART PHOTOGRAPHER

by the official assigned of the

Stock Exchange. It was held

HONGKONG. TELEPHONE NO. 1013.

Smartest

that they were entitled to do so.

In Shanghai amongst the rules

Shapes

of the Shanghai Stock Exchange ELDING, PRINTING & EXLARDIED, (incorporated under the Hong- Rawekennz, 1st May, 1911 | (1099

kong Companies Ordinance) thero

is a precisely similar role to that TSANG

of the London Stock Exchange, whereby it is declared that "The Stook Erobange does not "recognize in the dealings any "other parties than its own mem- bere every other bargain there fore, whether for account of a

KWONG Newest

COMPANY.

ELECTRICAL AND GAS CONTRACTORS.

/member - effecting it or for 230, Des Vœux Road Central.

*account of a principal, must be 'falllled endording to the rales, firegolations and uangng of the

Telephone No. 809%)

Colours

POPULAR PRICES

tion of The Meroantile Bank of India: to be let from Ist January, 1912 OFFICES outlet and 240' Floar now in, curse of eration at No. B. DES VŒUX ROAD to be let, .

Apply to—

DAVID SASSOON & Co. Hongkong. 18th Sept., 1911. [1087

OTE. LOUVENCOURT EXTRA DRY: $24.00 per caso.

FRENCH STORE;· 8, Queen's Road. Hangkang, 17th Imae, 1911,

GREEN ISLAND CEMENT COMPANY, LIMITED,

PORTLAND CEMENT,

"In Csake of 875 lb

In Bags of 2

Queen's Road Central:

SOUTH BOUND.

11

#1

"

WRATHER FORECAST CAND STORE-WARNINGS ISSUED PROM THE HONGKONG

OBSERVATORY.

METEOROLOGICAL SIGNALS:

Matiorological algpala sre kolated on the must in front of the Water Polica | Statión at Telm Sha Tsul for the Informa- tion of munters of vessels leaving the port. They do not nechesážily imply that bad weather is expected hats

Mon. Thurs. Bah State WBtate

Ex- god

Ex- press Litafor prese

for Mos for Bt. Moscow cow. | Pet'g,

State State Ex- Ex-

Conpreting at Harbin with press

A CONE) polat Ep. wards

A COF

polat up *.wards and

DRUX

below]

DRUM

Α' ΤΟΥΣ \point" dowa-

wards and DE UM below

5A COME polst down. warde

A CONE · polut down- -words and R BALL below

Indicator a T7. phoon to the Worth of the Colony,

Indicates & Ty phoon to the North-East of the Colony,

Indicatas a-Ty: phoon-to-the- Tart of the Colony.

indicates a Ty- "phoon të the Benth Eart

of the Colony,

Indicales & T

phoon to th Bouth of the Colony.

Indicates's Ty phoou to the" Beuth-West of the Colony,

A BALL

Indicates a Ty phoon to the Wat of the Bolany.

LA COEX point up- warda and TALL below

Indicates a Ty). phoon to theTM Worth-West

of the Botany,

Rod Signals Indicate that the contes is Believed to be niart than you mifua°zway- from the Colony. ·

Black Signals indicate that the capire Libelleved to be lass than goo miles away from the Colony,

The above siguals will, sel

be holsted only when typhoons? such positions or are moving directions" "that" - fnformation -

is considered to be of bug Balony or to shipping The

harbour.

** These signals are repeated at the bour Office, H.MS. Zumar VOIMIST land Signal Mart, and the Flàgital the premises of the Hongkong and KOT foon Wharf and Godown Company Kowloon.

- URGENT SIGMA...

In addition to the abors, whan.f`la expected that the wind may lacruang to fall typhoon force at any motaan), the following Urgent Signal will be takde ne the Water Polica' Station, 'and rapjátad at the Harbour Qiica :-***

THREE EXFLOSIVE BOMBE, AT INTER- VALS OFTEN SECONDS,

A Black Cross with he; hölstod› at the sama tíma, ruperior to the other shapes,

NIGHT SIGNÁLA,

The following Night Blĝuals will be Wagexhibited from the Flagsta. on the roof

LIL

of the Water Police Station at Kowloon, press fron

the Harbour Offer Flagstall, and H.M.S. fromStfrom Mor

Tamar Ter. Moscow "ĐÔI

Mon. A Wed. As]:8.20 p.m. 11.

10.50

5.10a.m. Tues. Thurs, 5.26 1.80 p.m.

TI

9.80

Harbin (Ruestan a main).......Lr. $11.30a.m. Changchun (

Y11.50

(S.M.R: Train)....

Makden

S... Art

$14,95

++

Dairon (

...Ar

Y40.00

Noon Bleamer ... Lv.||

Shangani

Ját

13

n

*1

Wed. Frl.

14

Sal

Sun

1. Tarsi Lights Vertica), Green Cisan Graan, indicates that, a typhoon : 15 bei lieved to be situated mere ikan soo mailos from the Colony,

11: Thine Lights Vaantal Gröndal | Green); fndicates that a; typhoonį še kar lleved to be tikunted less than son miles from the Balony,

'Car

.........-111: Theon Lights da tical, Red Gren pected to increase to full; typhson ince Red Indicates that the wind say be ord

at any momen

Rascian Train Time is 29 minutes ahead of the B.M.R.Time. For instanos

0 p.m. by the former in 5.87 p.m. by the latter." Supplementary Changes on DAIREN-CHANGOHUN Sanko. EXPRESS EXTRA FREY3.00 SLEEPING CAR SUPPLEMENT............ Y5,0€ | RUNG, LIL Signal will be'addari

TICKET AGENCIES-The Company's railway, and steamer 'tiokreta ari obtainable at all the Agezoles of the International Sleeping Car & Express Trains Co., the Nippon Tusen Kalshs, Shanghai, Messrs. Thos. Cook & Bor, and Reissbureau der Hamburg-Amerika Lähis.

RAILWAY HOTELS-YAKATO" Horai (Tel. Add. i Tamsip.") Dadren, Port Arthur, Mukden, Fashun and Chargohan, all' under the Con. pany's management.

·BOUTH: MANCHURIA RAILWAY COMPANY

DAIBEN.“

Tal. Add." Manlatan," Oades : A,B,C. 5th. E4, A. L. & Lieber's

FUSHUN

COAL

THE BEST STEAMING COAL IN THE FAR EAST.

*** Output 8,500 tons per day.

Frosh stocks always on hand at Dairon, Nowchwang and Tiebislo. Depot

and also at Cheloo, Shangbai, Hongkong, Bingspore and Penang,

MINING DEPARTMENT,

SOUTH MANCHURIA RAILWAY COMPANY,

DAIBEN

Mantsten." Codes 1 A. B, C. Jh. Ed., A. 1. & Lieber's ARL MITSUI BUSSAN KAISHA LTD

by the Explosiva Bombé, na shows igual belagt fra pakal evant, of the Information cORVE

being de

the the Dây Signale, al *hen necessary, ho {'night]

BUNILEMENTA

pessing' Ocean' Vammais, azhibited at noch of the düring” the time” „that; Day Signals Kin' hafi við

Gas Rock.