1930-01-22 — Page 10

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DRINK-

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THE HONGKONG TELEGRAPH.

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WEDNESDAY, JANUARY 22,

BREWER REBUKED IN

COURT

(Continued from Page 9.)

bo bolleva that anyone would not pay.

The Foreman.-Where did the $65,000 that Mrs. Brewer bad come fromT

Witness replied that he had explained that in his public ex- amination. Ho said that the agreement referred to as Agree- ment "A" provided for the pur- chase of certain contracts from him. The sale of these came to $68,000. The largest contract was in Singapore, but the bank con- sidered that outside their scope, and requested him to take it back. He therefore refunded $55,000 out of the original sum and took back the contract

The Foreman.-No reason has been given why manager was not appointed, as you indicated that the bank required one?

Witness-The manager Was onco actually named. He was Mr. Chow Sing-chor, a director, and the manager of a number of other banks: Mr. Chow, however, ap-] peared reticent, and finally, in March, 1928, the directors gave hin the last chance of accepting the position, and asked him to pay up his shares and take the job. Mr. Chow refused, so that the position was offered to a second man, un auditor. He had to put off accepting until after the audit, and when that was concluded we had the Canton and Shekki trouble, so that the matter lapsed. The Foreman,-There qucation of advertising this position in the open market?---We wanted Mr. Chow Sing-chor.

was no

No Money From Notes. In answer to the foreman, Mr. Brewer said that they did not want money from the system of promis sory notes, all that they wished to do was to make the debts payable, Further questioned by the fore- man regarding the beneft of the system to the shareholders, Mr. Brewer said that it was done pure- ly for the good of the firm. His only consideration was building up a business for the sake of the name of the firm.

Mr. Justice Wood.-The answer is that the shareholders ultimate- ly expected to share in the profits of the firm.

Mr. Brewer said that his di- rectors did not receive any colossal fees; they merely received $250 per year. The foreman re- plied that that. WEB something, anyhow.

Mr. Justice Wood said that as- suming that there had been fraud, the directors would have been ini a weak position if they had to sue not the notes. They could sue on them any more than they could sue for calls on sliares. Mr. Brewer replied that they could.

on

Ordered To Be Quiet.

While.. questioning Mr. Brewer regarding a report of the company, Mr. Justice Wood sternly rábuked him for addressing the Bench while he himself was spenking. On one nccusion he said: "Mr. Brewer will you be quiet."

Mr. Brewer said that His Lord- ship was prejudicing the jury by questions on a report of which ha disclaimed knowledge. His Lord- ship again ordered Mr. Brewer to be silent.

Mr. Brewer-You are very un- fair. It is not my balance sheet. Is Lordahlp then questioned Mr. Brewer regarding the com- pany's capital, and asked if it were useful for a bank to have its capital in millions. He then ask- ed Mr. Brewer whether if he had issued a fully paid share and re ceived $10 his position would be different.

Mr. Brewer.-It would differ in this way. We would have to pay dividends, as it was we didn't.

Mr. Justice Wood. Do you mean to tell me that these shares are not dividend carning shares?-As far as the 10 is concerned.

Mr. Justice Wood replied that he did not agree, and enquired if Mr. Fitzroy 812.

The Public Prosecutor replied that he certainly did not.

Shortly afterwards the Court adjourned, after aitting for nearly fifteen minutes past the usual time, and with Mr. Brewer still In the box.

CAR IN HARBOUR.

PUBLIC VEHICLE GOES OVER THE PRAYA WALL Motor car No. 1079, a public vehicle, fell into the harbour while proceeding along' the Kennedy Town praya last night. just hefore nine o'clock..

Driven by Chinese, the car was conveying two Chinesa women and a man, and for some unknown reason swerved, going over the wall Into the harbour and throwing the driver and the three occupants into, the water.

But for an alarm raised by pedestrians, the Incident might have been more grave than it was. The four people were rescued, and the car was later holated back to the roadway. None of the occupants' suffered more than the shock of sudden immersion,

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