6,24-14
THE HONGKONG TELEGRAPH,
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150
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ALEX. ROSS & Co. (CHINA), Ltd.
BANK OF CHINA BUILDING, HONGKONG.
The
ONE
B-500
CAP
Cigarette
SATURDAY, APRIL 9, 1926.
MADE AND, LOST·
£250,000.
STORY OF A BANKRUPT'S SPECULATIONS.
Mado and lost £250,000 in cotton apcoulation.
Losses in last 12 months £103,496.
Ninety firms on Liverpool cotton market involved in his failure.
These were among the amazing facts and figures disclosed at Liverpool Bankrupty Court last month, when Harold Rushworth Bowlor, aged 35, appeared for his public examination.
He began his carcer at 17, at 10s, a week, with a firm of cotton brokers, of which he bocame manager and then partner, and had traded on his own account since 1920.
For some time, he said, ho made considerable sums of money by cotton futures spéculations, and, ho agreed with the Oficial Receivor that it was a case at that time of "Roses, roses all the way."
',
£100,000 IN A BOX.
In 1920 he kept his resources, then between 150,000 and £100,000, either in the bank or in a box at the safe deposit.
Official Receiver: How much was in the safe deposit?-About £80,000 in bank notes and cash.
Why did you put it there?-- Well, in April 1920 there was talki of a capital levy, and I wanted! my assets liquid.
Did you went to avoid the capital lory-Probably I did.
If the Government had called for a return of capital with a view to a lovy you contemplated'a false and fraudulent return?-Probably.
in the summer of 1923, he said, he had about a quarter of a million of money. In the September of the following year his assots, had dwindled to £80,000.
"A STUNNING BLOW." Official Receiver: What I can't understand is why you, a young man, having a quarter million of money, not in fixed securities, but in liquid form, did not quit. Ninety-nine men out of 100 in your position would have quitted.
The Registrar: No doubt he is very sorry he didn't. (Laughter.)
The Official Receiver: We know these very heavy losses you sustained in 1924. In April you sold over £50,000 worth of securi- ties, and in August over £100,000 worth, to ment weekly settle- ments. Didn't that come as a stunning blow?-It probably did.
The Official Receiver: You from your small office used the salary of a Prime Minister of England for 15 years as a mera shuttlecock from one wook to another. You received £75,000 one Thursday and paid £75,000) the next Thursday 7-That was the amount, apparently..
Mr. Singleton, K. C. (for trustee
of debtor's estatel, suggested to debtor that he passed the huge sums from his speculative profits through his private banking account to hide them from the tax authorities, and asked: "Have you any idea how much you have in this manner "defrauded the revenue authorities of?"
Dobtor: I have no idea I have defrauded them. Until the Stubbs caso I had no ides I might be liable.
Have you considered at all if you were table what that amount would be-No,
The journed.
examination
WAS ad-
OUR WILLOWY GIRLS:
↓
COPYING YOUNG MEN'S WORST POINTS.
Dangers of the willowy figuro woro emphasised by Sir Bruce Bruco-Porter in a spooch in Lon-į don recently.
Why girls want to look like weak and weedy young men I cannot imagine," he said. "But they will get that figure all right and with it digestive troubles and a greater risk of consumption.
Why should the fair-and strong sex try to copy the worst points in young mon? Don't let your daughters and nieces culti- vate that figuro. The crazu won't last: and. It does not make for a happy old age-if they over reach
it.
The four primary essentials to hoalth were fresh air, fresh food, fresh water and a good drainage ayatom. He would advise people who had the choice of two evils- a stuffy atmosphere or a draught to choose the draught overy time, Colds were caused by microbes, and not by fresh äin ;
ARTS & CRAFTS
FURNISHING SHOWROOMS
(Opposite the Racecourse)
SHANGHAI.
Remind you of the High-class Furnishing
2.
houses in London, New York and Paris where you may inspect the most modern styles or faith- ful reproductions of English American or French Periods as shown by their Exhibition of
SHIPBUILDERS.
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OXY-ACETYLENE AND
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MECHANICAL AND
ELECTRICAL
•
FURNITURE FABRICS CARPETS
Decorative Plaster
and metal work
stained and
leaded glass.
THE TAIKOO DOCKYARD & ENGINEERING COMPANY
OF HONGKONG, LIMITED,
ENGINEERS.
-DRY DOCK
LENGTH 787 FET.
LENGTH ON BLOCKS 750 FEZT
DEPTH ON CENTRE OF
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TO 3000 TONS DISPLACEMENT.
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TELEPHONE to 212.
BALL FLAG: "É" ÖVER "ANS, PERMANY.**
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