1925-06-04 — Page 11

DUBARRY'S HIGH

CLASS PRODUCTS

Characterised by Daintiness and Charm, Bath Crystals, Soaps, Perfumes, Poudre, etc., etc. The Hall-mark of Quality. New Stocks constant- ly arriving,

THE HONGKONG TELEGRAPH.

KOBE HOTEL.

ATTACHMENT ORDER.

Loan on $142,400 Cargo.

Kobo, May 18-A provisional attachment on the Oriontal Hötol, granted to the Hongkong and Shanghai Banking Corporation

THE COLONIAL DISPENSARY. on April 28 as security for goode

Telephone O. 1877.

14, Queen's Road, Contral,

"S'cool"

HE" dog days" are coming,

Many generations ago our ancestors held the concur ront rising and setting of the day-slar with the sun to be responsible for the prevalence of hot weather for a period of forty days. twenty before and twenty after that avont- a delightful climatic exactness which the oldest man living in our village cannot recollect.

BEMEMBER! A Fan in May keeps the doctor away, as it doos also at any other time batwoon the vernal and mutuinnal equinoxes.

BE SURE your Electric Fan is ready for immediate uss as “ soon as the morcury demands it.

The China Light & Power Co.

(1918) Ltd.

Showroon:

62, NATHAN ROAD, KOWLOON

1

11

Van Heusen Collars

(Semi-Soft)

Alway retain their Shape

The collar that

represents Durability and Style.

75 cents each at

SINCERE'S

YEE SANG FAT CO

THE HONGKONG

BARGAIN

HOUSE

34, Queen's Road and D'Aguilar Street.

LADIE'S SILK

HOSIERY

BARGAIN.

$1.00 per pr. Colour White, Black, Nude and Chocolate.

valued at $142,400 which bad boon dolivored to Takata'and Company by the Toyo Kison Kaisha with- out bills of lading, expires to-day, according to the clock of the Contral Civil Court of Koba.

Mr. J. Edo Booker, ropresont- ing the bank, declined to state whether the bank will ask an extension of the attach ment or file a suit against the Toyo Kison Kaisha, The Toyo Kiron Kaisha delivered the goods on the guarantee of the Fiftoonth, Second and Mitsubishi banks, none of which have made good their liability..

The attachment prevents the salo of the hotel until the obliga- tion is bottled but does not in- terfere with the presont manage- ment of the hotel, which belongs to the Toyo Kisen Kaisha. The steamship company is awaiting the next move of the guarantee banks or further action of the |Hongkong, and Shanghai bank.

INVOLVES TALE OF CREDITS.

THURSDAY, JUNE 4, 1925.

TO-DAY'S FASHION:

A faint lavender blue is the colour of this frock and the mutorial is Georgette. -Wide cream not patterned in darn stitch makes half the jabot and all of the yoke, A doop centred rose of silk gives a pleasing touch of colour contrast:

News of the attachment of the Oriental Hotel in Kobe has stirrod |foreign business circle here, other banks beside the Hongkong and Shanghai Banking Corporation, both foreign and Japanese, being interested in the outcome of the suit. It brings to light the difficulty confronting the predi tore of Takata and Company in realizing on the security which it had, offered on loans mounting guarantee, instead of the bill of into the millions from a number lading, if the banks and the of banks in Tokyo,

TO WIN BR DE.

Clerk Tries to Fulfil Conditions.

A young clock's efforts to ad- vance his income to £1,000 a year, in order to win a bride, was the romantia story which had an anti-i climax in the King's Bench Divi-] sion recently, W

His prospoctivo father-in-law, It was stated, insisted that his in- como should be £1000 a year before he married. His salary as a olork was then £300..

Mr. Vyvian Whitmore Pearce, of Rockhurst Farm, West Hoath ley, Sussex, was the clerk, and bo sued Mr. J. Deighton Patmoro, of "Ladbroke-road," and Mr." T, S. Bowen, "of Loidonball-stroot, London,"for damagos for alleged : misroprosentation, by which ho Bald be was induced to invest money in the Baltic Coal and Shipping Co.

Mr. Poarce said he told the s'ory.of his matrimonial prospaots to Mr. Patmore and Mr. Bowen, who were directors of the Baltic Coal and Shipping Co. When he mentioned that his father would give him £4,000 in lieu of his ullowance of £200 a year they said their French bunkering busi- nosa required an investmont of £4,000,

་

WAY TO MARRIAGE, They

Mr. Buggested, said Pearce, that he should take up 10 por cont. participating prefer- ence shares, which would yield him £200 a year. Ho would re- ceive a salary of £300 as assistant manager of the shipbroking de- partment, a substantial share of 25 per cent. surplus profits, and about £250 commission, bringing his income up to about £1,000.

He bought 2,000 proference| shippers would accept the respon-sharea, and accepted the appoint- ment as assistant manager. He married three months later (November 1921).

The Hongkong and Shanghai sibility for the possible con- The Bank is understood to be involved sequences of their action. to the extent of Y6,000,000, some shipowners go on to say: of which

The banks in issuing bills of Was found not to be aecured. by tangible guarantee to substitute for the collateral. In the case of its suit bills of lading, which is simply a against the Toyo Kisen Kaisha, convenience to the shippor, have the loan in question, which is the right to withhold the issuance part of the Y6,000,000, was ad- of the guarantee note until they vanced to Takata and Company have investigated the value of on the bill of lading, which was

the cargo, or have demadded

Batisfactory documentary

security. evidence of the other landing of cargo at Yokohama If the bank should issue a bill of The cargo was landed but the guarantee without availing itself goods were turned over to Takata of this prorogative, it should be and Company by the Toyo Kison the fault of the bank in the event Kaisha, without the bill of lad of a loss, and nobody else should ing, according to the petition, but be legally held held responsible. with the guarantee on the bill Unfortunately some of the banks

OLD MASTER FOR IRELAND.

No commission or dividend was paid, and he found it difficult to obtain any information about the company's affairs. There did not seem to be much shipbroking, business. He became dissatisfied, and left the company in May 1922.

COMPANY WOUND UP. Mr.. P. M. Schiller, E.C, for Mr. Pearce, said his client bought £1 shares at £2 each, although ther were being issued to other people at par. During the 15 months he was in the company his de partment earned only £150....

trade in 1921 many prosperous businesses failed.

The bearing was adjourned,

DAILY HUMOUR.

Aftor a litte more than a year's of lading from the three Japanese have not observed these precau-existence, the company was wound banks mentioned above.

the up, leaving a large deficiency. Twotions and in consequenco

Cross-examined, Mr. Pearce credits wore thus östablished on shipowners have sometimes, been the basis of the same security, placod in embarrassing situa admitted that within a short time of his joining the company he it was said, and when Takata tions." and Company failed to repay the

This stand on the part of the borrowed £400 from it, and that: loan made on the bill of lading would not enter into the present agrood that during the slump in shipowners, being ecpost facto, sum had not been paid back. Ho by the Hongkong and Shanghai Bank, the bank sought to seize suit, but servos to intimate the the cargo, only to find that it further aweeping effect of the already had been disposed of.

Takata failuro, The bank then turned to the Toyo Kisen Kaisha as being responsible for the release of the goods with- The National Gallery of Ireland | out the bill of lading and obtain has just acquired the large altar ad the attachment on the piece to the Assumption of the Oriental Hotel.

Virgin, by Andrea di Giusto. It MAY START MUCH LITIGATION. was formerly "ascribed to Fra Officials at the Hongkong and Angelica, and has passed through Shanghai Banking Corporation two famous English collections in Tokyo were unable to say during the last century-those of what the further. intentions of W. J. Ottley and Mr. Fuller- the Bank were with respect to Maitland. It is described by the attachment. It was intimat- Crowe and Cavalcasolle in their ed, however, that this is only the "History of Painting," and is un- first of a series of efforts that questionably a very welcome will be made by the bank to re-addition to the National Gallery cover some of the loans made to in Dublin. It is painted on wood, Takata and Company which are 76in. by 66in., end the figures are two-thirds life size and of now overdue.

If the bank succoeds in its suit Giottosque type. against the Toyo Kisen Kaisha, there is every likelihood that a number of other suits will be. started on a similar basis. It was predicted" yesterday that the Hitigation which is about to onsue will delay the re-organizu- tion of Takata and Company for some time to come, and it "will undoubtedly have a far-reaching! offect upon terms of the ro- organization.

Another angle to the situation is_brought in relief by the suit against the Toyo Kaisha. Evor since the failure of Takata and Company, E bittor struggle has been going on betwoon the shipping companios and the banks as to the abolish- ment of the practise of delivering goods to importors unless the original bill of lading is presented to the steamship companios. The dolivery of cargo on the basis of a guarantee from the bank has boon more or loss general in Japan for several years, but there has been no distinct. understanding as to who would be the loser in the ovont that the letter of guarantee is abused.

SHITOWNERS. BLAME BANKS.

The Japan Shipownere A6-| sociation recently issued

Everything at BARGAIN PRICE, manifesto to the banks in which

The early buyer wins.

the attitude of the society is set forth. The shipping firms would agros to deliver goods on bills of

"RIGHT MIS WAY GENTLEMEN

THE LATEST DANG

SPRING

15 BERL DO YOUR SHOPPING EARLY

SEEDS

Jones: "Yes, the littlo wrotch! deliberately aimed the rotten egg at me. Luckily I ducked in time "Passing Show, London.

11

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•

SOLE AGENTS:-

CALDBECK MACGREGOR & CO., LTD.

15, Queen's Road, Contral

Telephone C. 75

One of the most treasured possessions of friends far away is a photo of their dear ones overseas. The Ming Yuen Studio is fitted with the most modern photographic equipment and will be pleased to show you specimens of their work,

THE MING YUEN STUDIO (Battery Path.)

Omcial Photographers to the H. K. Telegraph.

TO WORK IN COMFORT DURING THE DAY. AND REST. IN COMFORT DURING THE NIGHT.

USE

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