1911-12-23 — Page 3

DIRECTORS AND THEIR LIABILITIES, DUTIES AND

POWERS.

THE HONGKONG TELEGRAPH SATURDAY DECEMBER 23 1911

One may speculate about it, one TAFT AND ROOSEVELT

may imagine that they wore not;

but those who undertake to 'make out a case of misfeasance must establish that case beforo

"'Sharp Hostlity,

Consignees

FROM NEW YORK/ THE HA

HEH.AL Steamship

(Continued from last Saturday) "they can claim the relief to The Washington correspondent

ARAGONIA," "which it is suggested they are of the "China Press" writes on Unplain Moyer, baring arrived, Con- The ground upon which a "entitled" (Lord Horschell at p. director or promoter is held lia-601); secondly, with regard to Nov. 20:--Nothing could be more incos of Cargo are hereby informed that their goods are being latidod and ble to nocount to this Company the claim that Fean was impro- striking than the situation thrt placed at their risk in the haralous for "secret profit ", is either that perly making a considerable pro- has arisen between former Pre- ad extra-hazardow Cudowne of the A legal fraud upon the Company enco showed that the price for President Taft. This situation has delivery may be obtained against Bille

At, the Court held that the evid-sident Theodoro Roosevelt and Hongkong & Kowloon Wharf

Godawn Company, Limited, whence has been perpotrated by the which the property was sold to wilful suppression, of material the Company was not in excess become one of sharp hostilityof-Lading countanigned by the Under- of its real value, and "in order For a time the fiction was kept Optional Cargo will be carried on

sigued.. facts, or, that the Company has establish a claim to relief it

Intimations.

Intimations

FIRE INSURANCE ASSOCIATHE GENERAL ELECTRIC

TION OF HONGKONG. CHRISTMAS HOLIDAYS.

FIRE INSURANCE OF! NC is heidy given that of FICES be CLOSED for the innsaction of Publie Business on MONDAY AND TUESDAY, 28th and 26th int, respectively.

By Order,

THESAMM. WILLJAMS,

Aeling 'Scorotary. Hongkong, 32n1 Des., 1911.

1567

actually been prejudiced by the "would be necessary not only to "p that the relationship betweonabless noties to the contrary be giren MARINE INSURANCE "ASSO- |

nondisclosure. Where, however, there has been no wilful omission to disclose, and the Company oan in no way be damnified by the nondisclosure, the director could not be held liable to ac-

.count.

"show a breach of duty but to the two men was cordial, in spite "show a breach of duty which of all rumours to the contrary.

the Company resulted in a pecuniary loss to

to-day.

All claims must be prosented within ten days of the steamer's arrival here after which date they cannot be no oognized. ・・

Goods have left this Ookowas, eni all No claims will be adatod uher the Goods remaining undelivered after the 24th inst, will be subject to tent.

5960

CIATION OF HONGKONG.

CHRISTMAS HOLIDAYS.''

OTOE is horey gison that all

MARINE INSURANCE OF-

FICES will be CLOSED for the

transaction of Publis Business on ONDAY AND TUESDAY, 25th and 26th fast, respectively.

By Order. .-E. À. B. "WILLIAMS, Hongkong, 22ĥd De.. 1911. Ti386

Aoting Societary.

KOWLOON-CANTON RAILWAY.

But this idea has been com- pletely dispelled by the latest ut- The case last cited was an op- torance of Col. Roosevelt in peal from the judgmiont of the Court of Appeal in the 160 of which, in a lengthy magazino la re Cape Breton Company (20 articlo, he bitterly criticises the

A broken, aliafod, and damaged In the leading cnsouf Erlanger Ch. D.. 795), which julginent corporation policy of the adminis

goods must be left in the Godowns, was affirmed. In the case of fration and the suit against the bore they will be examined on the v, New Sombrero Phosphate Co. Ladywell Mining Co.(35 Ch. D. United States Steel Corportion to 28rd iust, at 9.80 a.. 3 A. 0, 1218 and in the Inter 400), also before the Court of dissolve it under the Sherman

No Fire Insumace will be actal by 0389.of Gluckstein v. Barnce (1900) Appeal, the judgment in the case law; defends the Steel Corpora- HAMBURG-AMERIKA LINIE,

as in any case whatever. .A. O. 240) thong of the directors of Cape Breton Company, wie

referred to with approval and lot and denies the correctnes

Hongkong Oha who had been promoters were followed. There syndicate of charges inade in the Governorton 18th Debr 1911. held liable because they had purchased a mining property ment potition in the Steel case to TOYO KISEN KÄISITA, “. omitted to disclose the fact that with a view to reselling it to the effect that he was misled by they themselves had bought the Company to be formed but Judge E. II. Garyard H. O. Frink NOTICE TO CONSIGNEES.

ut that time, no steps had{ property acquired by the Com-toen taken to form any Company of the Steel Corporatou when, as pany of one price, with the isten-Lator on a Canary, was formo President, he sanctioned the ab tion of creating, and solling it to, to which the syndiente sold the sorption of the Tennessee Coal a Company, ani hui Fold it property for a considerable profit, and Iron Company with its hugo again for a larger price to the and four of the members of the Compmy they had created. Andyadicate were tamed as diro possessions of valuable fron 0:0

tors. No disclosing was made by by the Steel Corporation. in the eise of Maan v. Northern them us to the form of their own -Tramways Co. (1893) A. C. 60, contract for pardus) of the Since President Tuft brought Jongs: ‘e. ' •

where an undis losed profit was property. Actions wore subse made by the Solicitor to the nontly brought against them suit against the United States | FRIDAY, to 22n, is, at 5. r., inluding, the tria having Canton

1

་

Big Business is Bitter.

!

**

8.S. “TENYO MARU.”

From SAN FRANCISCO, HONO-

LULU, and JAPAN FORTS. The above-named sine baring arrived, Consignes of Cangis

hereby, notified to send in their Bulk of Lading for counter iguture, and

ike immediate delivery of Cargo from

Cargo remaining modelivered on

No Fire Insuranas wientover will be

|

No Claims will be recognized after

President, the financial interests delivered on FRIDAY, the 29th Godown, and all Goods remaining did not like him. But they liavent, afternoon, will lo subject to wat concluded that they like President handing charges.

All chafed and other ite, damaged Taft even loss,

Corgo to be left on board or godown and examination of samo to be arranged. All claims must be filed on or before

1912, otherwige.) Friday, Jan., 5th they will not to re:oznized.

K. MANTSA,

"Agent. oko 14, 19th Do:. 1911. [A68 NIPPON YUSEN. KAISITA. NOTICE TO CONSIGNEE3. FROM EUROPE, COLOMBO AND STRAITS..

CHRISTMAS AND NEW YEAR'S HOLIDAYS.

YN al from SATURDAY, Do-

Camber 21'd, Cliga Excasion Tickets from Hangkang, Kowbon and

CO OF CHINA, LTD.

Telephone

·618.-

16, Des Voeux Rd. Hongkongs

Telegrame

Sparkless HEAD OFFICE: 7 JINKEE ROAD, SHANGHAI, PREOT AGENTS OF THE MANUFACTURERS

DIT ALL KIND'S OF

ELECTRICAL MACHINERY, APPARATUS, FITTING ACCESSORIES, TELEPHONES, Wires and Cables, &o, &c.

Yaunati to Canton and vies versa will

inten be issued at the following rednen 1203].

First Class Return $690, **Second Third

***

8.0%, 2.00.

These Tickets nie awilchly for tho return joey by my train up to a d

at 2.25. P.M., cu WEDNESDAY,

anary 3rd.

Holders of these ticket ars, entitled

to travel freenering the Harbour by the

Star Ferry, but aren't permitted to

break, the journey at Intermodisto stations. By Order,

By Order, 11. Windor. The Administration. ******* Hanager, **** *Imperial Chinon? Section, Canton-Kowloon Canton Kowloon

Hallway,

Railway,

Kowloon, List Deo, 1911. [1658

CHRISTMAS HOLIDAYE.

N ncconlance with Ordine No. 6 of 1875 EXCHANGE BANES will bà CLOSED for the trans ciun of Pable Business on 25th and 26th instant. Hongkong, 20th Pe1, 1911. [1559

ifunt reseired; a fech consignment of "PAUL CLOUÉT CHAMPAGNE, Extra Dry al32 1.00 per care of 2 doz. pla.

FRENCH STORE,

La recover for the Company the Steel Corporation, there has been will be landed at Consigneer risk and Company he was ordered. to a secret-profit they bad made. It bitter feeling against the edixins and delivery must then be taken count thorefor, became the pro-was, however, Luli (1) that there fit so made was actually out of was no evidenco shit when they nistration on the part of big busi-from Company's Godown the funds of the Company, which in a fiduciary Fassition towards Wall Street has turned against

bought the property they were oss interests. What is known as effected. was thereby domnified. → the Company ultimately formed, Mr. Taft, When Roosevelt was be Goods have lots the Steamer of

In these, na in all other chees, and (2) that asuming thoy com- regard must be had to the intentiod breach of duty in not of the parties affector. Whore informing the Company, after it was formed, of all the facts, and a promoter le with others, part consequently the Company might owner of a property which is have rescinded the contrael fo It is freely said that powerful sold to the Company of which ho salo to itself, yet as resei-sion becomes a director, it is undoubt. was then impossible, the Com-financial interests in New York edly in the highest degres novia any could not recover from and other great money centres are them the profit they had made. prepared to throw their support uble that his personal interest in

In the much Inter.case of to Roosevelt rather than Talt ne the property should be disclosed Ludy Forrent Gold Mine, Ltd. the nominee of the Republican at the earliest possible moment; (1901)1 Ch. 582 where a di- in fact it is his duty to make schrecker of the Company was also party for President next Juro. disclosure. But so long as no of a syndicate which acquired all parties and factions has be one of the directors and membora The feeling among politicians of shroholder can be in anyway certain mining properties for como pronounced that Roosevelt prejudiced by the omission to themselves, and subsequently is likely to become the nomi- disclose, it would be the reverse sold those properties to the Com

"HIRANO MARU," pany at a consi lerable profit, it see of his party, and President of equitable to hold that, the di-was held that the director was Taft will be relegated to privato hating arrived from the above ports,

Consignees of Cargo are hereby inform rector could be mudo liable to ac-guilty of a broach of duty in not life. Much depends on the devell that their Goods are using landed GREEN ISLAND CEMENT eat either for his share of the fully disclosing his preciso inter-opments through the upproth- and placed at their risk in the Hong- COMPANY, LIMITED. purchase-honey of the property much as there was no evidence to now the renomination of Presi- Company's Godowns

est in the properties; but inas-ing session of congress, but just kong and Kowloon Wharf and Godo"

at Kowloon, PORTLAND CEMENT.. gold to the Company, or for the show that he made a dishonest dent Taft looks more uncertain where caeli consignment will be sorted difference between the actual profit, in the sense that the pro- than ever, and Roosevelt is loom-out mark by mark and delivery can be value thereof at the time ho ne-perties were sold for more than ingup large. In fact, Mr. Roosevelt obtained as soon as the Goods are quired 'it and its value at the their real value, he was not guilty is freely charged with wanting to of misfeasance; and could not be be nominated in 1012. Such is time of the sale to the Company ordered to reply the profit be his popularity with the great Ile could not be deprived of the hnd derived from the sale to the masses of voters that he would share to which he was honestly Company. But in the still later stand a good chance of election D cember, will be object to rabt.

case of Leeds & Hanley Theatres if nominated. ontitled of the purchase money Ltd. (1902) 2 Ch. 800, where the

Damaged packages must be loft in the if it were the, re il value of the

When it is recalled that Taft Godowns for examination by the Con- property who sold to the Com- promoters of a Company pur-is the man selected by Roosevelt signe's and the Co.'s representatives pany, and be compelled to make chased (without paying for it) to succeed him in the office of at an appointed hour: All claims must present of i: to the general bodily property for the purpose of sell- President, it is not short of robe prosented within ten days of the of shareholder, who cannot be ingit to the Company when form-marksble that the two should now steamer's arrival here, after which date THE P. & O. S. N. Co.'s Steamer entitled to make an unexpected, and sold it to the Company for he at swords' points politically, profit for themselves out of the greater price than they had

themselves paid, they were hold |

THE Company's Stowship'

aaded.

Optional goods will be carried on mlos instructions are given to the contrary before Noon, TO-DAY.

Goods not cleared by the 2204

they cannot be recognised. No claitos

:

[5

1. Les Voux Roud, Hongkong. A

RETAIL SUB-AGENTS—

WM. C.

JACK & CO., LTD.,

SOUTH AURIA RAILWAY

SHORTES &

& QUICKEST ROUTE

BETWEEN

THE FAR EAST & EUROPE. Tia DAIREN. WINTER SCHEDULE.

(Fl ctive from October 28, 1911.)

IHRICE WEEKLY EXPRESS TRAIN SERVICE, composed of excellently equipped Sleeping, Dising add 1st Class Cars, is operated between Dairen and Changchun ia cunanstion with the Trans-Siberian Express Traine and with Doiren-Shanghai Direct Stemmer Service by the 'S.B. "Robe Mard *** and "Saikio Maru", («sch"1,877 t'u ankoquipped with virolos telegraph) as follows:-

NORTIL, BOUND,

Thari. Etta Bat.Tes. Sun. Wed. FA,

Irt Ulans

Fares

L. Gameru,

71}

6. Qrea's Blond Central.

$40.00

Mnkd-u

Y11.30

{ chasing m

Harbin

|Shanghal (Steninu)) ...... (17.)

Dairen ( Jatorre A 714,95 ‚/ (S, M. R. Tríu),...,Lv, Ar j...LY.

(Rosino Cria),...,Lv. *11.50 „

)...Ar}* *8. 10 a.ni,

**

8.00 .. 8.50 p.m. 4.05

·10.30..

12

Mon. Thum. Sat.

State W- State Ex- KOB Ex-

In Caaks of 375 lbs net.. In Bags of 250 lbs. ca. SHEWAN, TOMER & CO.,

Ganem! Misongart, noin, EU tap 1918,

Consignee.

NOTICE TO CONSIGNEES,

iteamers,

-

Connecting si Raibin with press Litator pres

Moscow cow. Pat'g.

SOUTH:BOUTID,

for Mos for St

State State Wagon

Ex

Ex- Late Coureling at Jin with() prova pedes

FromStron Mos

[Harbin (Kursima "Tamuj...LNj *12.00am. Moh. Wed. | 77-

Chingdian (

• 8.40 p.m. J...At (S.M.R. Troia)...Lv. 10.00.„.

¥1

...Ar 5.00a.m. Tues Than. Bate

5.10

B 9:50

Y11.30

Mukah

*

T14.95

Daireo

¥10.00

!..LY. ...A Steamint j...Lv.]

1.20 p.m..

Noon

Wed.

Bun

(Shangbai(

"

** DEVANHA," will be admitted after thugosllave||FROM BOMBAY, COLOMBO Lift the Godowns.

· AND STRAITS. mere fact of the director's nou liable to pay to the Company the A Washington telegram 'daled

NIPPON TUSEN KAISHA, disclosure, unless such nondis

Agantz.

Consignees of Cargo by the above- closure be in a legal senso fraudu whole of the profit they had thus Dec. 16 says:-The sixth arrest

med oss] are hereby informed that loạt.

made on such a sale. The differ- occurred to-day in the famous longkong, 20th Des., 1911.

their goods are being landed and placod This cag of Cavendish-Bentinck ence between this case, and the McNamara dynamiting outrage:EN LINE OF STEAMERS

their risk in the Hongkong and Russian Train Time is 29 min faster than 8.M.R. Time, For instance . Fenn 12 A. C. 852 is a conclusive one last cited, was that the pro- The further investigations of De-

NOTICE TO CONSIGNEES. Korkon Wharf 'aul Godown Cam-

6 p.m. by the former is 5.87. p.m. by the latter, authority to this effect, There motors were actually in a fidu-tective William Burns against 8.8. BENULLUC"1"

pany's Godown at Kowlion, wher

Bupplementary Charges on FAIREN-CHANGCHUN Servios, the defendent, Fenn, was the ciary relationship to the Company the gigantic scheme of destruc

BLzeriza Cin' SUFFLECKÉ). Mark by Mark and Julivery can be owner of practically a third of at the time of the original pur- tion which was brought to light FROM ANTWERP, MIDDLES Con-igament will be sorted out EXPRS EXTRA FE3.%

ANTUNG-MUKD÷N LINK-Opened Pre-standard gauge traffe^und, certain property and to a Com chase, and therefore committed by the confession of O. E. Mc-BRO, LONDON & STRAITS..obtained axis: Goods are landed.

"Thin Tennel bringwon Cargo:

operating thrice weakly express naryvar between Ohangohun sáð Sóðhl, changing at Mukden. a legal fraud on the Conipany in Manigal ageight the McNamara (ONSIGNEES of Cargo ve beraby pany, of whipli. he became a

informed that all Goods are being

TICKET AGENCIES/ Company's railway and steamer toks director. It was allogel that he selling the property to such Com- brothers, yesterday showed that

"Arakia" ali?-Malan,”

ditaisible at all the agencies of the International Sleeping Car & peina! omitled to disclose the fact of his pany at a profit to themselves. the plot was also dircoted against landed at their rink into the hamardous

From Persian Gulf, exs. 1.1.8.N.Trains Co. the Niping Lesen Samba, Shanghai cap. Thos. Cook is Bong interest in the property, and it There was strong evidence, more the army, especially, threatening for extra hogird ne adhwor of the Hongkong and Kowloon Wharf and was endeavoured to make out over, that the price paid by the several officers at Fort Riley Hodowe Co. Lul... whence and/

and B. & P. 9. N. Co.'s and Reizedrera Jer Hamburg-Amieńka Línia, that, inasmuch as the property Company was far above the real Kansas,

from the whartes delivery may b Optional Goods will be landed here was originally pureliasd by Fenn, value of the property. The differ-

fontsined.

aplow instructions ara glern to the Gisborne, and others for very of Ladywell Mining Co., before enco between this case, and that

No Claims will be adinftted after th|soutrary within 6 hours. nuch less than it was gold to thebited, was that, while in the one ing in the names of couples who Goods have left the Cholowne, and all. Gonds not cleared by the 27th init.. Company, the afore Fenn had

Gods remaining undelivered after the At 4^r.m., will by subjout to rent. mado e socret profit, for which ho caso the vendors to the Company extent of that recorded in a Clo-All claims against the stein - mast by me in any case whatever,

go to the altar, but rarely to the inst., will be gubject to tant. No Fire Insurance will be effected?d, "Manu tan”. Có 16. A‚8.0. Bộ, EL, d. 16 tréber's -must necquat.. The agreement

which they promoted-hadnotually for sale to the Company was made bought for themselves in the quet paper, which chronicles this be presented to the Underig bed on, or Datanged packages mirst the left tw with Gisborna na the sole vendor,

ret instance, and paid out of marriage of Charles B. Gosh and before the 5th prox, or they will not the Godowns for exsintastion by the Conilgutes and the Company's - soru and apparently no mention of their own pockets the original Annie B. Damm under the caption be recognised

of 'Gosh-Damm. The good All broken, olafed, and damaged veyors, Maiere. Goda LED and DOUGLAS, Fenn's interest was made in the purchase price of, the property; prospectus of Articles of Assosia in the other, the vendors and gentleman of the sloth who per- Goods are to be tofi in the Godowns. at 10: AM on Mondars and Tran and

Article tion. Nevertheless the Court promoters had paid nothing, but formed the ceremony doubtless where they will be examined on the wire. All claims must be presented within ten days of the studier's arrival. ¿No Fics Tosarigen had liven éffeted, here, after wirich), data they on poot be bought the property for an ins had a hard task, but, says the St. 28th lost, at 11 A hold, first, with regard to the tanded Company by which both Tani Pioneer Prash," he bravely

éd nadisclosure, that there

after 'tle goods lafi, the Chodamiz. evidence that the other the original purchase price and overcame the diflenity by congli Ing violently every time he was

HEWETTY the promoter's profit, was paid,.

called to pronounes the bride's (To be contimiöd.)

gra were not perfectly well Feno ponion,

Ono often finds supliony exist-

Bill of Lading will be puntarsig ied recognised. No olimax will be adimitand

UIBB LIVINGSTON) & (UB)

Hongkong, 21m De} @9011: (1-1856

RAILWAY HOTELŠ——VAKAYO Horzu (Te). Add. 1: Tamato !!).a talion, Port Antiar, Mukden. Foshan sad Obangchun, all under the Com- pany's managemeNÉ..

SOUTH MANCHURIA RAILWAY COMPANY.

DAIREN

FUSHUNT COAL

THE BEST TEAMINU COAL IN THE FAIRAST Fresh stocks always on hand at Üliten, Newchwang-and-e fonti

are at Cheloo, Shanghai, In, kong, Singapore and MINING. DEPARTMENT,

SOUTH MANCHURIA RAILWAY COMPANY

A MITSUI BUSSAN KAISHA