1929-03-06 — Page 10

Hongkong Telegraph 港電新報 士蔑新聞 All

10

ΚΕ

THE HONGKONG TELEGRAPH.

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WEDNESDAY, MARCH 6, 1929.

EXCHANGE CONTRACT SMALL-POX OUTBREAK.

DISPUTE.

BANQUE INDUSTRIELLE

ACTION.

FIFTY-ONE CASES REPORTED

LAST WEEK.

The return of the Medical Aftor a lapse of five years, an Omeer of Health for the past week action was commenced in the shows a slight drop in the number Supreme Court yesterday in which of cases of small-por as compared the Banque Industrielle de Chine, with the week previous. Thera Princo's Building, Chater Road, was a decrease also in the number are claiming $11,554.77 damages of deaths. Of the total number of for breach of an exchange con cases, 28 came from the Kowloon, tract from Tuen Keg Hong, mer district, 21 from Victoria and four chant of No. 2a, Cleverly Street,

from Shaukiwan. Hongkong,

The return for the 24 hours end- Bir. Jenkin, continuing his argued the 4th, shows seven now cases, ments after the timin adjournment,

The following table gives the weekly returns aluce November 8:

contended that the bank had perve from Victoria and two from formed all that it had to do. Ils Kowloon. Lordship would find no cases where, if one side had performed all the acts incumbent upon them, or if there were no acta incumbent upon them, then there was ground, or basis on which one could form the conclusion that the contract had been abandoned.

Bank's Duty,

по

With regard to the contract.in question, the bank had to be roady for the transaction. Secondly they had to wait until tho defend- ant told them to convert. If the defendant did not do so then ther reverted to the state of readiness and the contract was completed, in a sense, so far as the bank was concerned.

I

In commenting on the lapse of time since the alleged breach, his Lordship remarked it was an ex- traordinary case.. A bank, he said, did not sleep on its rights. If anything was owing to them why did they let five years go by and say nothing? he asked.

Wock Ending Casos Deatha November 3,

4 November, 10

0

29

November 17

November 24

December 1

.98

25

December 8

.61

Docombor 14

.91

December 22

December 29

January 5

.80

January 12

*BM

January 19

January 20

78

77

February 2

58

February 9

.80

February 16

47

61

February 29

.04

69

March 2

.51

$4

1,048

.670

Total

JAPANESE TRADE.

CHINESE BOYCOTT HAS 'NO APPARENT EFFECT.

Tokyo, Mar. 5. Despite the anti-Japanese boy.

Mr. Jenkin pointed out that a letter of demand was sent within seven days after July 30.

ho His Lordship remarked would have to take the lapse into çonsideration as some evidence from which a jury might infer the contract itself had been aban- doned. It would be for their serious consideration in conjunc-cott, trade figures with China, Just tion with other facts although, of published, show a total excess of course, it would not be enough by exports in January and February of 21.4 million yen, compared with itselt.

15.7 million for the same period last year. In: February, the exṛ ports were 284 million, yen and Imports 19.4 million.-Reuter.

Closing of Doors.

Mr. Jenkin continued that the point came back to the closing of the bank doora on July 2, 1921, and whether, on that occaelon, ha had to give notice to the defend- ant that the contract was to be carried out. In that connexion, If the closing of the doors was significant, then the opening of them on the next day but one, the intervening day being a Sun- day, was equally significant.

Mt. Patter, hore stated that the breach of contract was the closing of the doors on July 2 when people could not enter the bank.

His Lordship asked Mr. Potter whether his client went to the bank on that day in order to ful- All contract.

Mr. Potter replied that the de fendant found the doors of the bank shut when he was entitled to have the right of calling at any time to perform the contract. The bank had deprived him of that right.

Mr. Jenkin aald that the date of the visit a given in the parti- culars was between July 6 and A. Mr. Potter:That was the com- bradore interview.

Mr. Jenkin: Do you suggest your client went there on July 2 for the purpose of taking up this exchange?

The Contract Breach,

Mr. Potter. I don't see why I should make any atatement of that kind. Mr. Potter continued, f Bubitission would be that what tho defendant had in his mind would be utterly Irrelevant on July 2. He was not suggesting that the defendant went to the bank on that day with the intention of taking up the contract, but the closing of the doors was a breach" of the contract.

Mr. Jenkin:-The

defendant

knew that the doors were shut on Julv 2.

His Lordship:--In a small place like this we all know,

Mr. Jankin then proceeded quoterguthorities atter which, the present sub-manager of the bank, M. Gaughtior gave evidence with regard to rates of exchange and letters. Including the alleged letter of demand,

In cross-examining on this let tar, Mr. Patter pointed out that the date was wrong and the rate was wrong, with which Mr. Jenkin sxpressed his agreement,

The hoaring was adjourned untij this morning,

DECLINE OF THE YEN.

AN OFFICIAL JAPANESE BTATEMENT,

Tokyo, Mar, 5, The Finance Minister in a state- ment reasserts that the Govern ment will refrain from taking artificial measures to cheek a further decline in the yen, but adds that will not hesitate to assist the exchange banks in come. form or other if exchange money: In their possession falls too low,

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Page 10N

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