1934-06-22 — Page 12

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THE

HONGKONG TELEGRAPH. FRIDAY, JUNE 22, 1984.

BROKERS IN COURT.

MACAO MAN SUED FOR BREACH OF CONTRACT

Wiede

PEACE ASSURED

JAPANESE GENERAL'S POINT OF VIEW

in

CLAIM BY BANK.

NATIVE ESTABLISHMENT BUED FOI LARGE SUM

An interesting brokerage claim

Dairen, June 21.

Before the Chief Justice, Mr. Mr. General Ilishikari, one cante up for hearing before

of. Justice MacGregor, at the Supleme Justice Jacks at the Supreme Japan's most famous soldiers, in- Court yesterday afternoon, when terviewed to-day, gave assurance Court yesterday afternoon, the A. A. R. Botelho, local sharebroker that there was no inugor of war Overneas-Chineso Banking Cor brought an action against Jose between Japan and Russia "despite poration Ltd., auccessfully subed

war-like preparations Choy Anok, c/o Banco Nacional the

the Messrs. Wing Yuo firm of Ultramarino, Macao, claiming $703 Siberia."

native bankers, and Chu Wai-yuo, damages for breach of contract for

"There is, at present, absolute, 'managing partner for U. S. $20,- the purchase of 500 shares in the

General 000 and two sums of £5,000 each. Hongkong and Shanghai Hotele, no cause for war,"

Hishikari declared. Plaintif also claimed interest on the sum, at the rate of 7 per cent per annum from January 24 last.

Mr. G. 3. Ford appeared for the plaintiff, while Mr. F. D'Almada, aenfor, was for the de fence.

"Japan's policy, followed by Mr., Tho claim was for damages for Hrota, Foreign Minister, in bag breach by the defendants of threa ed upon super-negotiation and con- contracts, in writing, dated Janu Xciliation," he added,

ary 26, January 27 and February 'b this year, for the sale and de- livery of the money by plaintifTMs to the defendants. The action was heard ex-parts.

Referring to the reports that In evidence, the plaintiff stated the Soviet had an army of more that on January 14, hotel sharea ban a quarter million and some 4,000 war pinnes along her castern were $9.10 buyers and $9.20 sellers frontlor, he remarked that the pur Mr. Eldan Potter, K.C., instruct- having dropped approximately 10- por cent. The Sharebrokers' As-pose of the Soviet demonstratione ed by Mr. H. C. Lee, appeared for plaint. The action VILA sociation assisted plaintiff to sell Was possibly to discredit Japan by the out, as he was in difficulties, and aggrandizing the menace against heard ez-partc.

which a formidable Army vas they created a flat rate for him necessary.-Reuter,

Mr. Potter, dealing with the atatement of claim, referred to the three exchange contracts, and

on these shares. The association sold out all the shares which had no margin. He sent defendant an account of the sales, and made closing time of the banks. They atated that it was the custom of requests for payment. Defendant were sold on Settlement Day by me banks that, where a customer had referred him to Mr. Fernandez, on the instructions of the Associa-joutstanding contracts at the end of cach month, the customer was tion. who subsequently went plaintiff 1

forwarded with ■ list. In the damages, in this case, they were also claiming 1/5 per cent, of the amount for stamp duty, os this Mr. D'Almada: I have received was the practico of banks in cases alne no notice of any application for where the customer defaulted. It

margin.

would be highly dangerous if banks

letter.

His Lordship: Why did you Mr. D'Almada: I, don't think I think the defendant would not take have a case to answer. He did not delivery on January 23. prove he lost anything.

Mr. Ford: He sold it.at dollars.

tion was the assigues.

Mr. Ford: No. The tion assisted the plaintiff.

Mr. D'Almada: The Associa- Plaintif: If the defendant did not adopt this practice, as it wanted to take delivery of the would mean a loss to the Treasury. Associa-aluares, he could have done so up

The revenue duty on the U.S. to 3 p.m.

$20,000 contract had been paid by pinintiff and it was the opinion of the plaintiff that the liability of paying the revenue duty on both the £5,000 contracts would fall on them.

His Lordship: Thla witness has Replying to his Lordship, plain hought 100 shares at $10 per share tiff stated that defendant did not and I don't know who has paid for pay. The Association sold for his them.

(plaintiff's) settlement.

Mr. D'Almında: The sale has not been proved.

Mr. D'Almada: Because he, de- faulted.

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