1923-01-31 — Page 7

GREENFIELD'S

BANKRUPTCY CASE.

NO ACCOUNTS KEPT.

Accusations Against Brokers.

STORY OF WIFE'S INVESTMENTS.

THE HONGKONG TELEGRAPH. WEDNESDAY, JANUARY 31; 1993.

them. When his eheque books

DAIRY FARM NEWS.

were used up he destroyed them. DAIRY

He saw no reason for keeping them.

"Pure Gambling."

In the course of further ex-

amination, debtor stated that his BUTTER IS ALL FOOD & NO WASTE"

wife owned 400 Dock shares and that she had given him the money with which he bought them. They never were bis. He had never told Mr. Raxack that be

There were interesting dis. Providents and 400 Docks. On had given them to his wife, and Mr. Razack had never told him closures in the Bankruptcy June 1st, 1932, debtor was solvent.

tha ha bad better get them back Court this morning, when Samuel He had shares in Langkats and again. He had never told Mr. Greenfield came up for his publicia Hoogkong Amusements. examination. His gambling on acquired between Jaqusry and Razack that he wasn't going to the local share market was gone March. He also bad three houses in his wife. He had no bank- lato, during the course of which in Hungbom, which he sold in ing.account outside of Hongkong. Mr. Alabaster:-What about he alleged that brokera had work-July to a Chinese gentleman. ed "a put-up gara over bim

Sometime in the early part of the China Providents -Tant Be was also questioned about June, 1922, Mr. H. H. Tayler, was pure gambling on my own. certain shares which he said manager of the China Provident account, wore his wife's property and also with regard to the recent sale of some property and jewellery The examination was taken be fore the Chief Justice, Sir Wil- lam Rees-Davies.

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DAISY AND DAIRYMAID

Losa and Mortgage Company, When things went all righ' | who was under an obligation to they were always for your wife. debtor, came to debtor's shop and when things went against you, said he had a chance of reparing said

that was gambling on his obligation. He said he had your own?-lbere was no need, 20,000 Providents. There would they all urged me to gamble. All Mr. C. G. Alabaster, K.C., (in. |be a movement soon and if debtor the brokere knew I had no Pro-) structed by Messrs. Wilkinson could take them up he could vidents when I was selling. and Grist) conducted the ex-make a dollar or sa on each Debtor proceeded to state that) amination on behalf of several share. Debtor told Mr. Tayler be gambled in Cements. None of THE DAIRY FARM, ICE & COLD STORAGE CO., LTD.

proving creditors.

His Early Career.

that he had not any money, but the shares were bought in his he thought he could make wife's name; he bought and sold f arrangements if the rate were about 5,000 in 1921 and 1912. Mr. Greenfield is an American.favourable. Debtor arranged Then you started reckless born subject. His birthplace was through Mr. Mohidaen to gambling in 1921-Not reckless. Gjocincatti, Obio, he told the borrow from the compratore of I was simply led into it. Court, in reply to questions put Sincere's. 31. Tayler came to

by the Official Receiver (Mr. Gdebtor's shop again about three

A Put Up Job.

careful about

N. Orme). He went to Manila |days later and debtor told him Did you receive a typewritten with the United States troops that he had arranged a loan-statement from Mr. Tayler advis. daring the Spanish American Mr. Tayler said he would selling you to be war, alter completion of which he came to Hongkong. In Hang kong he joined the Harris Keeney Company, chair makere. That was in 1994. Debtor remained with that firm as assistant unti! 1906. Mr. Keeney then went Home and the firm, which went bankrupt, passed into the hands

20,000 shares at the rate of 1080 gambling in Providents ?--Yes, per share. The bargain was con-after he had led me into it. cluded. It was a verbal contract. I sold 17,000 Providents in

Mr. Tayler told debtor to sell September on the advice of the for September settlement, Mr brokers, who said I had better Greenfield continued. He sold try to break the price of the 7-8,000 shares and then became market. Mr. Tayler was work- alarmed, because Mr. Tayler diding with them. He ordered bis not bring the shares. Debtor went broker out of the Compradore's of Mesars, Gilman and Company, to Mr. Tayler's office on office of Shewan, Tomes because! Mr. Greenfeld then took over two or three occasions, but Mr. the broker wouldn't sell hira the business. He worked it up Tayler wAS ant. Debtor then some of the shares I had sold to and in time made a success of it. wrote him a note and Mr. Tayler In 1914, when the war broke out, then denied selling the shares debtor had made "quite a little He wrote to debtor, advising money." The business was most him not to sell any more short ly wholesale trade with America Debtor replied saying that if Mr. In 1914 the wholesale business Taylor would give him 10.000 disappeared, as debtor couli nohares he would consider the do any exporting, and he intend obligation closed. ed to give up.

•

the broker. It was simply a put- ap job all the way through.

Didn't the brokers advise you to cut your losses?-No, all the brokers could have covered them- selves to within $3,000 or $3,000.

pro

Didn't the brokers offer to buy for you to cover, but you pre- Debtor understood that Mfferred to go on, hoping that the Debtor married in 1911 & Miss Tayler took this note and showed market would crash and lesvel E. Souss, dressmaker from it to brokers in Hongkong. That you to get out at a profit-I was Formosa. who had been in the was the last debtor beard of offered shares at a higher pricel Colony about six months. Sheit. The shares were Dever than they stood and I refused, but! bad between $18,000 and $19,000 delivered. Debtor trusted Mr. then the market jumped up.

In 1914, at the suggestion of Tayler because he was under

Questioned about soma his wife, Mr. Greenfield started (obligations to him. Debtor's party at Hanghom which he sold

• money-lending business. Mrs. brokers. Mr. Razack. Mr. Grose in July for $20,000, debtor Greenfield at that time was and one or two others, told him said he had used that money! conking more money than that Mr. Tayler had approached to pay off personal obligations he was by exporting Haiphone them with the same statement and debts. He admitted that he embroideries to North and South that he had 20.000 shares to sell had never kept any record of America, besides doick a certain They told him that Mr. Engler how it had gone. amount of local work. Debtor hai, made the same proposition to lost considerabla sums on the then. moneylending business. He did At the suzgestion of his brokers, he bad had a diamond ring. but not keep any accounts. The went on debtor, to try and get it is worth only about $200. H- loans were more in the nature prices down he want on selling, sold it in September in Macao of accommodations to bis friends. up to 17.000 shares for September-for $150. He also had a biz He loss practically all the money Debtor told them that he was pearl, which was represented to that he bad saved. He bad absolutely broke" if the shares him as being worth $3,000. As not expected 10 make much | went over $12.

Answering questions about his jawellery, debtor admitted that

B matter of fact it

because it was an imitation.

He

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oot of the moneyleading. His Lordship: Is Mr. Tayler worth only about $20 It was not a good idea aid in the Colony now? debtor. He lost money in the Debtor replied that he was had that pearl cow and the latter part of 1921 or 1922. Al manager of the Chias Provident Official Receiver could have it together, roughly, he came down Loan and Mortgage Company. if be wanted it. about $100,000. He lost $50,000| Replying to further questions, to one man who left the Colony debtor said he was to give Mr. to question debtor about his bank Mr. Alabaster said he wanted and he lost $21,000 to Dutch Tayler cast, for the shares and accounts, but debtor said be sell forward for September. He could not see the figures witbont Mr. Orme explained to the contended that it was abone ole his glasses which he did not have Court that most of Mr. Green-ale.

with bim. field's debtors had left the Colony. Mr. Orme:You mean to say His Lordship suggested 3 There was a warrant out for a morally, not legally.

debtor should bring them with res Mr. Best and the doctor also was! Debtor said Mr. Tayler owed him after tio.

him $3,730. Previously debtor

Ioctor

wanted.

Mr. Alabaster asked for Mrs.)

Debtor, replying to further released him from a debt of $37,-Greenfield to be called under the questions, ssid some of his 1000 for $11,000, smaller debtors-who owed him

powers of the Court, and debtor fifty, hundred, or two bundred Misled From the Beginning. stated that his wife had attended. He was quite willing for her to be dollars-paid him back, but the

Mr. Greenfeld attributed the questioned about her own affairs. bizzer ones paid nothing.

cause of his trouble to being Mrs. Greenfield later went into With regard to Mr. Best, misted from the beginning. He the box and stated that the 400}; debtor explained that be bought sold at the suggestion of Dock shares were her property, for Mr. Best's account 200 Dock his brokers. He had not sold a She bought them out of the pro shares. The shares were deshare outside, his store. livered and Best gave him a came to his store and urged him Provident shares and also with They caeds of the sale of 3,000 China obeque for $30,000 on the Hong to sell. He never went to any of some private money of her own. kong and Shanghai Bank. The their office". cheque was irredeemable and

The public examination Was Mr. Alabaster read the note later adjourned sine die. from Mr. Tayler to Mr. Greenfeld Mr. Orme said he thought and debtor's reply. there could be no doubt that Mr. Replying to counsel, debtor

Best disappeared.

ropt

CHARGE.

Mr. Laurence William Gibbeas,

Greenfield had large losses over said he had never kept any books UNDERGRAD ON MANSLAUGHTER| these several debtors who either in connection with his rattan left the Colony or else went bank-business since 1914, because in that year he intended to give up. Replying to the Judge, Mr.When business was normal he undergraduate of Trinity Hall, Grasnfald said all his debtors considered it was worth between was at Cambridge recently com gave him were promissory notes. $20,000 and $30,000 a year. When mitted for trial on charge of

His Lordship-Extraordinary there WAB

meeting of macslaughter in relation to the generosity on your part.

creditors debtor went to his death of Mrs. Maud Scales, the Debtor replied that it bad al-solicitor and suggested that he wife of a Shepreth railway signal- ways been his creed to help any (debtor) should run the business ma Gibbens, against whom man who appealed to him.

for a few years at a salary of culpable neglience was alleged, $400 a month and the profits was motor-cycling on December shoali go

|10—a very dark night—from Mill the creditors. Debtor said at the present time Hill School to Cambridge, and ran Coming to 1922, debtor asid at conditions were not normal.

into a party of three women. that time he had just sufficient ta Debtor was cross-examined at keep his business going. He some length with regard to bis probably had about $10,000 in bank pass-books and cheque shares and cash. His wife had counterfoils. The moothly property of her own, money in statements issued by the bank he various banks, and she had 3,000 checked up, sigüed and returned

The Story of China Providents.

to

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