1931-03-25 — Page 7

FRENCH BANK TO! PAY DAMAGES.

WOMAN SUCCEEDS IN CLAIM.

POWER OF SALE WRONGLY

EXERCISED.

VALUATION VIEW.

RUBBER SCHEME

TORPEDOED.

AMSTERDAM FIRMS REFUSE CO-OPERATION.

RESTRICTION, ISSUE.

THE HONGKONG TELEGRAPH, WEDNESDAY, MARCH 25, 1931.

GIFT TO NANKING MUI TSAI CASES AT SWATOW “MUTINY”

SEMINARY.

PLANS FOR EMPLOYMENT MADE AHEAD.

tho

A RECORD FOR CHINA.

London, Mar, 25.

Nanking. Mar. 25. According to the Financial Timoa The bequest of $12,000,000 made correspondent at Amsterdam, the by MIRS Ella Wendel to question of rubber restriction ap- Methodist Theological Seminary at pears to be again in the balance, Nanking is the largest sum left to

A meeting of the Dutch Rubber any institution in China. Committee was held yesterday to ascertain the position created by were not taken completely by sur The officials of the Seminary Mrs. Chu Shuk, No. 121, Caine the fact that the restriction pro-prise, for, although the bequest Rond, succeeded in her claim posle submitted by the Committee was never certain, they had long against the Banque Franco- to the Dutch Colonial Minister had believed that it was coming and Chinola for $42,000 damages, not met with the approval of all the had

ad mapped out plans for its ap when Mr. Justice Wood delivered members of the Committee.

plication. a lengthy written judgment in course of the meeting, representa-anterialise, call for the promoting It is understood that In the These, which will now probably the Supreme Court this morntives of the Amsterdam Rubber of religious and theological educa- ing. Plaintiff's case was that the Banque had sold, at a gross and Trading Company

Company, the International Credittion in China, the spreading of

anny of Rotter-

Christian literature, undervalue, property at No. 6, daru, Messrs. Crone of Amsterdam

ministers. The Seminary proposes to but mortgaged to them to secure Dutch plantations) and the Amster a large central institution. banking facilities for Mr. W. M. dam Trading Corporation, nollfed It is noteworthy that the Semi- Pittendrigh.

the Committee that they wouldnary buildings were looted and de- strongly protest Against any stroyed during the Nanking Inci- Government interference.

dent of 1927. There

then were two hundred students. Now there are only forty.

KOWLOON.

GIRL TELLS PITIFUL STORY IN COURT.

WOMAN FINED $100.

REVELATIONS.

MEN DISARMED ON ARRIVAL FROM CANTON.

DIFFERENT STORY.

from

Z

of

At the Kowloon Magistracy, Fresh light on the recent whole. before Mr. Hamilton, this anlo executions at Swatow Is Tal-ho was charged with having special correspondent, diaclosing. morning, a woman named Chan thrown by a message kept an unregistered mui-tsal, at that the court-martial was the Sho pleaded sequel to the disarming, a week or her daughter and not a mul-tani. troops sent to Swatow from Can- 176, Temple Street, not guilty, saying the girl was two earlier, of a cerimont

Mr. Macfadyen, of the S.C.A., ton, said the girl

the S.C.A. on camo to Monday and complained of ill-

According to information from a reliable source,

these men were treatment by her employer. She went by steamer to Swatow, and, Bald she had been trying to get at the same time, special orders but had not found the opportunity disarm them on arrival. This was out of the house for some while, were sent to the 62nd Division to to do so. The last time she was done. banten was eleven days ago. Sho It is said that no resistance waa

Ko Shing Street which she had (who own large Interests in thug of Sino-forelan the train- was 19 years of age, and said she put up, though two civilians were |

Mr. Eldon Patter, K.C., together with Mr. II. G. Sheldon, instructed by Messra, G. K. Hall Bratton and Co, was for plaintiff, while Mr. F. C. Jenkin, instructed by Mesars. Deacons, defended.

They had decided, they stated, to refrain from further co-operation in regard to restriction.

The testator was over ninety The foregoing companies which years of age and was described as are leading Amsterdam concerns the richest and loneliest woman in Sympathy fur Partles, have always voted against restric-the world. Most of her $100.000,- Giving judgment, his Lordship, tion and it is considered unlikely 1000 catate goes to charity. She will endon had lived alone for many years in after reciting the facts of the that the Government

to enforce legal restriction a great house with closed shutters cuse, together with plaintiff's your

She was the statement of claim.

mensures against the opposition of off Fifth Avenue, And the

a substantial minority inst survivor of the Wendel family. parties, in his opinion, deserved such

-Bender. Dutch prostucers,--Renter. sympathy by

the of reason obscurity of the deed. The årst, and major portion of the plaintiff's claim was concerned with its cubmission thy Counsel for the site and structure value. These plaintiff) his Lordship considered well founded,

of

had been add to the defendant, when she was three years eld, for $20. She had never received any pay and had done all the house work.

Girl's Story.

shot accidentally, perhaps by chine-gunning for two nights, but warning fire. There was also MB- this also seems to have been pre-

cautionary.

Communistic plots relate to inel- certain that they had little oppor dents in Canton for it is pretty

after arrival in Swatow. tunity of engaging in any plotting.

The disarmed regiment in mid to have been recruited from rob. In evidence the girl and shabers around Canton and to have was not defendant's daughter, as conducted Itself badly subsequent- she was called by

a differently. Possibly the allegations of surname to that of defendant's defendant and had done all the husband. She had cooked for

house work. The defendant beaten her with a rattan care and sometimea with a broom, because she had refused to marry

whom the defendant Portuguese. wanted her to marry. She had heard from the defendant herself that she had bought her for $20.

hind

A woman, living in the same house, wald the girl was called by the same surname og the defen dant's shand.

·

Defendant's Version.

The defendant stated that the

struction,

Plaintif had argned that the banking facilities granted to Mr., "Reckless Disregard."

Ittendrigh were natside the com pass of the dred, and had further "I now bring myself to the final contended that the consents In niternative claim raised on writing to the facilities given, plaintiff's chim, with reference to which most of the oral evidence which were rogaired by the deed.iven at the hearing had been call-e possible in particular cases to The mother of the girl was indebt-

were, in far! never granted. It

Bacrificed

the

her

| two extentations may, and in fact Ido, lend to different results. Thoir system Then is to select munn figure between the two results arud

body that figure in their valun tion. By this method they have reached the figure to which they girl's mother used to live with her. It may in Cantos, her father being dead, have testified in this care.

check a result so arrived at by re-ed to several people, and, in con- . was his Lordship's opinion that ed. Assuming everything else in

the facilitie contemplate by the the defendant's favour, the plain-ce le prices obtained on the sequence, gave the girl to her deed were not to be inferred from bank in its conduct of the safe has made use of by the witnesses for mother $120 as "ginger and yine

A nevertheless submits that the sale of adjacent properties, but no ab

In her adopted daughter. such material was obtained and exchange she had given the girl's the course of business ennducted shown is reckless disregard to her between Mr. Pittendriyh and the interests and has

the bank. It is probable that their gar money. When slic

came down Bank. hut must { natallished

valuation figure would have been to Hongkong she brought the girl from the terms of the document / Property by selling at a gross on somewhat higher if they had noted down with her and had had her for

der-value. Under tha hend she itself. The hank has

acted aims damages.

It is not here in-the fact that one tenement was be the just 19 years. She had since throughout in this matter

treated the girt as her adopted though the eredits which they faith amounting to fraud against

cumbent upon her to allege had ur let at to low a cent. granted from time to time to Mr. the bank, nor hus she done so.

daughter, as she had no children of her own. Pittendrich were secured within is enough if she can establish on The essential difference between the compass of the mortgage. the part of the bank such neglect their evidence and that given for Thele good faith in the proceeds of reasonable precations in the the plaintiff appears in two fac. ings is in no way challenged. The sale as would lead to the conclusion tors. The plaintiff's witness adopts bank has regarded the deed as that the conduct of the bank fell the figure of 6% per cent, per effecting a general security for short of the standard of good faith ; annum as the proper net return Mr. Pittendrigh's overdraft." required by law from mort from which to calculate the capital value of a property for investment; the defendants' witnesses, on the other hand, have adopted 8 per cent. Further, with reference to the site.

Opposing Viewpoints.

gakee.

題

It

Essential Differences,

On the anle by the bank the pro- Continuing. Ila Lordship and perty realised $24,000 only. This that counsel for defendants had sale took place on February relled upon the terms of the first 1930. On March 22, 1930, the value, it was, in the opinion of the (general) covenant,

whereas for same property was resold

such a wide

a period of a

the two

Defendant added that she sent the girl to school for two years. Latterly the girl had not been to school, but she was always out of the house, day and night. She remonstrated with the girl, who answered back and she struck the girl several times with a ratlan

cane.

hold of her her throat while On one occasion the girl caught

he was in bed, but she managed to release herself by biting the girl's hand. She had never struck the girl with a broom. She did

not know this was necessary. not register the girl, as she did

fendant and fined her $100, or one

Mr. Hamilton convicted the de-.

month's imprisonment,

Another Case.

at a plaintiff's witness, worth $45 per the plaintiff it was argued that price of $12,000. This is an ad-square foot, while in the opinion of construction of the Vance on the previous price of 75 the defendants witnesses, it was

per cent, within deed was an incorrect interpreta-iittie over one month. The plain- font. The use of these different worth not more than $30 per square tion of its real meaning. The til invites the Court on these facts factors in calculation will explain learned rounsel for plaintiff had to find that her Interests have been the divergence between said that if it had be the inten-disregarded by the bank and that valuations. tion of these parties that a general the conduct of the sale has render- Without hesitation necept Mr. overdraft should be secured,ed the bank liable to her for this Carr Clark's valuation us correct. aothing would have been easier deficiency than to draft its clear terms.

in value obtained by Both Mr. MacKichan and

Mr. Macfadyen also charged The them. She furnished architects Bird have stated that for a number Wong Chu-kee with keeping an Arst covenant, was, in his Hub evidence of the value. To this con-of years they have made a prac-unregistered mui-tsai, mission. un undertaking, to pay tention the bank

retice of using the 8 par cent. factor ля amounis becoming payable in plied by calling ovidence of a valuations of property in the respect of items set out in sub- Valuation.

Colony. It thus appears that their sequent portions of the feed.

valuations take no necount of the variation in the earning power of money at different periods. It is Interest and the mortgage rate of well known that the bank rate of

"adopt the construction for which the plaintiff contends," said

Expert Valuations. Two expert valuers have given

his Lordship. "On this construc evidence for the defence.-Me. tion of the deed the plaintiff's claim MacKichan, a partner in Messrs.

Col.

to rerover the value of her pro-Leigh and Orange, and Cal. L. Ginterest have been lower recently

Bird,

partner in Menars..

ather and Turner. These two witnessed is lower at the date of these

perty must sucreed. however.

to

I propose, denl with

valuations than they had been, say, mattera considered at the hearon March 31 and April 1, 1920 luations made for the bank seem valued the property independently ave or ten years earlier. The vo

Regarding an alternative aimvaluations. They agree in their to me to be vitiated by this fact,

ing."

No Demand Made.

According

to them,

Existing Conditions.

l'e.

the

The defendant failed to make his appearance In Court when the case was called yesterday and his bail of $50 was catronted. entered a plea of guilty this morn- ing and was fined $250 and an

etditional $25.

SUGAR MARKET.

THE LATEST CABLED QUOTATIONS.

He

of the sugar market yesterday has The following cable at the close

treath and Co. been received by

Messrs. Pen-

Landon Terminals, March 1932 7/3% up 1d. May 1931 6/5 up 2%d. August 1931 6/83⁄41⁄2 up 2d. Dezember 1931 6/11% uji 135.

New York Terminals. March 1932 1,66 up 3 pts. May 1931 1.33 up 2 pts. July 1931 1.41 up 2 pts. September 1931 1.48 up 2 pts. December 1931 1.67 up 2 pts.. London (24/3/31).- Refiners

of the plaintiff, that the power of the property was worth $30,000. Hale granted by the mortgage deed The had been wrongfully exercised by The defendant bank hus in these

Mr. Caer Clark in adopting his the bank, his Lordship said that liability, paid into Court the sum account conditions as they actually proceedings, without admitting factor of 6 per cent, took into in view of his decision on the of $6,500 with a statement that existed. plainti's main contention, the this is a suficient sum to satisfy structure value, the witnesses are matter did not arise.

As to the question of convenience of the parties he this section of the case.

But for the the claim of the plaintiff ander suficiently agroed. With would consider it.

ference to the site it may be sup For the plaintiff, Mr. Caer pose that any climate must be ther in Messrs. Clark a matter of opinion adopted with- Clark, a partner and lu, gave evidence of value by out specified foundation. It had been admitted that no which, in his opinion, the property demand for payment was,

The reasons which lead me to upon the mortgager, and that no This property is house No. 6. Ko this point are these:-In the first nade was shown to be worth $42,000. prefer Mr. Caer, Clark's view on notice of intention to sell the pro-Shing Street, a locality which is place, I ptrty was given her. This exer- especially sought after by certain second sale of this property was

an satisfed that cise of the power of sale would Chi thus be held oppressive upon the rental derived from the property dealt with a broker who demand- Chinese merchants. The gross entirely bona fide. The purchaser authoritics, and the Court would was $265 a month; the net rental,ed $44,000, the purchaser's first have bought Cubans 96, April/ award damages to the plaintiff after valper's deductions were offer was $41,000, and the bargain May shipment at 6/51⁄4 C.L.F. U.K. without reference to the provi-made, being $211 a month slons of the deed on this ground

It appears from the evidences closed at $12,000. It is alone,

even if it stood alone, that

hat owing to certain personal fet no doubt that the purchaser Apart from that, the mortgager arrangements the tenants of the expecially desired to acquire the appears to me that the true value was entitled under the deed to a first floor tendment were paying a premises for personal reasons, but of the proporty was $42,000 and demand for payment and a period rent which was less than the it has been agreed by all witnesses that the anle was conducted with of one calendar month thereafter average, rental for such premises. that properly market values have out any stops being taken by the in which to comply.

by $25 a month. For the purpose not appreciably increased or fallen bank to ascertain the true value, It was submitted by the bank of valuation, therefore, the annual during the last five years, and as that by the terms of the deed, rental of these premises may be it is on record that the adjoining of her claim, the plaintiff must: For these reasons, on this part plaintiff had conferred a power of taken at $2,800 approximately. house, Nu. 4, Ko Shing Street, was also, in my opinion, succeed. Ale without notessity of any notice to her in cortain

sold by public auction in Decem- circum-

In the result, my judgment is for stancra, namely, when dofnult had

ber, 1926, being a slightly loss the plaintiff. She is entitled to The method of valuation valuable property, for $38,000, it recover been made in payment of any in- adopted by the witnesses for would saem clear that the last $42,000, the value of her property, dainages the sum of terest payable under the deed upon the bank is unquestionably the purchaser of this property has not and also rents and proats at the domand or whore default had been right method. They made in performance of any of the made two calculations the first Before the sale by the bank, no from February 14, 1980, to the date have paid, more than its market value rate of 8211 per month, calculated covenants contained in the deed, based on the rental, and the stops were taken to ascertain the of this present, Judgment, and The objections sat forth to this second based upon an estimate of value of the property old-It coats.

The Right Method,

n

The original report alleged that they were trying to stir up trouble among troops in Swatow,

MONEY BARON.

(Continued from Papo 6.)

your style than mine,

1 should nuk you to think of your

mountains in spring.

When the wenther grows warm

and the lark's on the wing, When the wind's in the south and

the sun it gets alrong, Then the snow that on Snowdon

has lain for a long Is swiftly abuted, so to

liquidated,

May,

And flows into the sea in a ripple

of song-

Like that snow when 'tis sunned,

your Personal Fund.

Is running away, or already la

runned,

Your once ample if somewhat

irregular Trust,

near bust.

To put it quite pininly, is pretty You know I was proud when I

was allowed

money

To look after the wealth with which you were endowed; I did ns requested, the

invested In selected securities carefully

tested;

It looked just as snug as a bug

in a rux,

But nothing is sacred to Snow-

don, the That

And besides, to be fair, a good

deal of it went

In that newspaper deal... at 100.

per cent.

You said other day, eloquent way,

in your

That the men of the City were.

alway's astray;

But this much we know-to resist

the temptation

Of risking a Trust In a wild

speculation;

For in practice we find an in-

fallible test

That the thing that looks. best

most often goes Weat,

N

And, if I way candidly any what

I feel,

The way that you managed that

"Chronicle" deal,

As you said of us bankets, WAS

"wrong every time.". What I think of it cannot be put

into rhyme.

But that's In the past, and I'd

be the last

In his face a friend's honest mia-

judgments to cast;

What I want to say now, at the

risk of a row,

While one or two apples are left |

on the bough, Make no more

such speeches, your banker beseeches,

If you value your wealth), as you!

made on the 12th, The City is tainted, no doubt,

with Impuritics,

And "sordid it may be, as you

are so sure it is. But what's left of your Fund is

in giltedged securities.

As per margin, the falls in Ralls

and Conuals, With a general rush to get into

Short Calls,

.

All aigns of a market that's

thoroughly scared,

Will show how, your speech your

securities beared,

As a Liberal Peer, let me say

that I fear,

With the Fund overdrawn by the

end of the year, '

The Party of Progress may quite

disappear.

am sending this warning to Chart

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At the risk that my candour your Union Church, Jordan Road, Kowloon A Jumble Sale wUI be held in the feelings may hurt;

two Chinese,

A Chinese CRAS EX notified, on dond weak there WIN

typist confesses I'd write your trusteos, but my Any contributions of garments will theria, and sevent

on Friday, March 27, at three o'clock,

w be gratefully accepted. The sale in ported ed She cannot discover their names in aid of the Women's Guild of the surgi

pulmonary

and addresses.

Union Church.

for 10