1929-12-13 — Page 2

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THE HONGKONG TELEGRAPH, FRIDAY, DECEMBER 13, 1929.

THE BREWER CASE CONTINUED.

ITEMS WHICH SHOULD NOT HAVE BEEN SHOWN.

AS ASSETS.

BANK BALANCE SHEET.

Mr. Li Tung, the auditor to the Instone Banking Corporation, con- tinued his evidence in the Brewer case, which was resumed before Mr. A. W. G. HL Grantham at the Central Magistracy yesterday

afternoon.

..

Was that typewritten balance sheet signed by anybody when you received it did not pay par ticular attention to that, but it ap peared to have been signed. *

two days later I was given this balance sheet and the three bal- No Money Received Traced, fourth balance sheet.

ance sheets. You will see on the Mr. S. Hampden Ross, the (The balance sheet now provid-liability aide $466,400.25 for cus-liquidator appointed to investi ed to witness was the combined tomers' deposita. I have got hore gate the books of the Instone Bank balance sheet, otherwise known as the balance sheet for the Hong-ing Corporation on behalf of the the typewritten balance sheet to kong branch and you will see on Oficial Receiver, was the next distinguish it from the printed the. liability side a head office loan witness called. He said he had balance sheet, which is the one to of: $260,000. The assets of the seen a very large number of books! which objection is now taken by head office were $264,130 which belonging to the Bank and the Crown)

was therefore a debt of the Hong-amongst these was a minutes' book kong branch and that $260,000 to of the Company, Witness was the credit of the head office?-1 asked to investigate the green balance sheet, and he noted that have not seen those papers...

But you audited these papers the amount of $1,474,000 shown as from which you made up the capital issued was made up, of the nominal values of 14,700 shares.. balance sheet? No..

Capital issued, and subscribed You say they are not the ones you used?-I have not seen those shown standing at $2,613,260. was next checked and it was found ap three papers before.

Was the $200,000 of credit apparently to include 11,330 shares, pearing in the head office books as which had not been lasted or

am in a dificult position to answer against the Hongkong office allotted. that question without reference to the three papers givon here.

You saw nothing wrong with the

You then compared that balance sheet with the other three.. Is that your method 7-Yos.

"

And that balance sheet you checked by the other three-Yes. And you signed it as it is now Continuing his cross-examina on June 6, 1928?—Yes, an

Replying to other questions, tion of Li Tang, the auditor, Mr. E. Davidson, on behalf of the de-witness' said he did not see Mr Liu, the Secretary of the Instone fence asked:

I think you informed the O-Banking Corporation while he wa cial Receiver in July that you had there. He did all his auditing in told Mr. Brewer how the balance Mr. Brewer room without receiv-particular entries)-No. sheet should be prepared? onlying any asilitance other than that naked Mr. Brewer, how he prepared of the President of the Corpora- the balance sheet,

tion.

did.

Alteration of Capital,

li..

According to the ledger there was an account called the Allot ment Suspense Account, amount- ing to $1,388,000 with a footnote on the same folio showing how this was made up from a list of ap plications, neither have I seen any documents showing that shared had been accepted in any way," he added,

4

05

Peerless

for

Purity

Indifferent English," Re-examined by Mr. Fitzroy, witness said that he was certifien- I want to be quite fair to you,

ted to audit. Chinese accounts and

Had to "Dive Around." Mr. Li Tung. I have been the note taken by the Official Receiver of Mr. Davidson You: cannot tell Chinese accounts only.

What would you describe your Witness, continuing, said ho your cross-examination and I have us, therefore, whether Mr. Liu no doubt it is correct. I have got know anything about book-keeping English as. Good or indifferent? found a pencilled, note somewhere showing an amount of $6,250, n note here, and according to it for balance sheets? No. Set-Indifferent.

Producing the printed balanco You have been asked questions which, presumably was the capital when you were cross-examined by the Official Receiver you said you sheet, stated by the Crown to be by the Official Receiver. Did you of the Shekki branch. Added to told Mr. Brewer how to prepare the ultimate and final one prepared give your evidence In English the two amounts of $1,474,000 and the balance sheet? That is a mis. for that year, Mr. Davidson asked then? Yes. Questions and ane- $1,333,000 the total would corres-

pond to the capital described

Made from pure natural oils understanding. I only asked Mr.witness: You know, who insertedwers were in English.

the Chinese characters on this You were given a type-written issued and subscribed on tho Brawer how the balance sheet was

and herbs, Erasmic Soap acts balance sheet 7-I do not know who balance sheet, exhibit I. Is that liabilities side of the balanco prepared.

sheet. the one? Yes..

"Mr. Fitzroy: Is that liability like a toilet cream upon the skin, Well, that reads different now,

I put it to you that the Chinese-

You were given three others You asked him how it was pre-characters were inserted by your from which you complied one? don't think so myself. Apparent-

correctly stated?-Witness: 1 leaving it smooth and soft tis pared and you told the Official Reself and Mr. Liu after the balance

ly the only amount of paid-up satin, It is wrought by repeated ceiver in July that you told Mr. sheet bad been signed.I absoluta. Yes, four altogether. Brewer how it was to be prepared? ly deny it.

You were asked a question as to capital according to the books was milling to an exquisite refinë- only asked him how it was pre- Mr. Davidson explained that whether it was signed when you $978,610, this being in respect of pared. I didn't tell him how to this was after the balance sheet first received it, and I think your the 14,740 shares issued. That ment of quality.

had been passed by the directors answer was that it appeared to be perhaps might also include the signed. I want to know what you Shekki capital. In my opinion' | meeting of 1928.

I put it to you that Mr. Brewer mean by "appeared?"-I was in-that is all that should appear.

Questioned next with regard to was away from the Colony ontent on my auditing. Monday, June 11-1 was

Do answer the question. Do the amount of $1,420,950 of Un- aware of that.

you or do you not know that called capital shown as an asset in the balance sheet, witness said June 11 was three days after was signed?-I can't remember. the director's meeting.. I put it to You also said "From these three that merely consisted of $401,260 you that Mr. Brewer, on his re-statements, I told Mr. Brewer how of uncalled capital on allotments turn, was ill and continued to be to make up a balance sheet ?"-No. and of $1,019,700 of unallotted ill to the end of that month-Not asked Mr. Brewer if he had aahares. To arrive at this witness to my knowledge.

prepare it.

Your statement to the Official Receiver, then was untrue?-Per- haps the Oficial Receiyer mis understood me.

You said also on that occasion: "I did not prepare the balance sheet. The balance sheet was signed and given me to audit." Is that true? The balance sheet was prepared and given me to audit.

Already Typed Out." You said: "The balance sheet was signed and given me to audit." Is that what you told the Official Regelver? Well, I did not notice whether it was signed or not. It was given me lo audit,

not

Do you recollect the day on proper balance sheet from these had, he said, "to dive around" bo

Ing entries in the books. which you signed the proof of that three balance sheets. I asked the fore he could and the correspond.

question. balance sheet 7-No...

You say it is a mistake as it is I put it to you that you signed that sometime either on June 12 or written down here?-It is a mis shortly afterwards at Mrs. Bre-understanding. wer's request?—No.

I put it to you that you were rea-

At any rate your case is that the balance sheet was given to you al-ponsible for the alteration of

eapital? No, ready typed out 7-Yes.

You know who typed it?-No. You said the balance sheet was signed. It was given you to audit,

Audited After 5 p.m.

"

Uncalled Capital.

The Public, Prosecutor: In your experience as auditor do you Not Asked to Sign.

consider 90 per cent of unallotted You understand that you are capital an asset-Well, it may or

may not be an asset: It all de whatever here to tell the truth might come out. Are you sure pends on whether it is in fact an

asset. It may be bad. that Mrs. Brewer did not ask you ask you, do you canalder un Did you not see Rodrigues dur-lo sign that balance sheet and that called capital on unallotted shares you signed it at her request? No can ever be an asset? Can you Do you remember where you call that an asset by any stretch signed that exhibit 1.7-In Mr of the imagination?--I don't think Brewer's room."

so. Witness added that in his Was Mr. Brewer there when opinion it was incorrect to class you signed it? Yes. Mr. Brewer uncalled capital as an asset whe- ther it was allotted or otherwise. was present,

Did

The Public Prosecutor: Then you character-No..

on that, the whole of that amount This concluded the re-examina of $1,420,950 is incorrect, should tion of the witness, who was then not be there at all as an asset?--- an Mr. Fitzroy explained that the asked by Mr. Davidson "After the It should not be shown as witness was in the employ of some-annual meeting of the Company, asset

Questioned next with regard to one elec, and he did not wish to did Mr. Brower say anything about disclose his name.

the alteration of the capital?-Mr. the item accounts receivable as Mr. Davidson:-In other words, Brewer did not say anything about displayed in the balance sheet, made up of you had other employment during the alteration of the capital. I did witness said it was the day.

not even know when the annual many items. It included certain

(Continued on Page 11.) Will you look at the green meeting was,

Why did you do the auditing after 5 p.m.27 would like a ral ing from the magistrate for you to refrain from asking that ques- tion.

and that it was given you to auditing your audit?--I saw him once. at the beginning of your audit?— At what time?—I cadnot. say The three subsidiary balance exactly, but, I did the auditing alects were given to me first. the after Bn.m. combined balance sheet later.

Mr. Li Tung, what you have said in July, nearly six months ago, wax: The blance sheet was given me to audit; I audited it, and it took me ten days in my spare time." Is it true that you received the balance sheet and then audited it, or was it not true?-I did not notice particularly whether it was signed or not.

I have said I don't mind that. 1 accept your statement on it, only ask whether it was true that the balance sheet was audited. You said, according to the Official Receiver's notes here, "I audited it and it took me ten days." Is t true you received the balance sheet first, audited it, and then it took you ten days to audit it?-e gave me three balance sheets first. That will make four with the combined balance sheet he handed to me sub- sequently, "

"

Compared with Other Three.

But you said here, in those notes, that "the balance shunt was signed and given me to audit?"-- Perhaps it was a mistake due to putting the word "balance" in the plural instead of the singular number.

You say new that you audited those three (subsidiary) balance sheets?--Yes.

You audited these three balance sheets and came to the conclusion that they were correct?—Yes.

And when did the balance sheet, the one you signed, make ita ap- pearance?-I was given three balance sheets at first. One or

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