1939-06-30 — Page 31

Bankruptcy Court ALLEGED FRAUD BY PROPRIETOR OF BANKRUPT FIRM

A-PETITION for a receiving order against the Mer- cantile Manufacturing Company was brought by the American Express Co., Inc. before the Chief Justice, Sir Atholl MacGregor in the 'Bankruptcy Court this morning.

with tho Appearing for the petitioning, claims of the creditors creditors, Mr. J. T. Prior Bald Onchal Receiver, pending the grant- that the proprietor of the debtoring of the letters of adniin!stration. Continuing, Mr. D'Almada sald, he firm, Lau Hoo-tsau, had abscond- quite understood Mr. Watson's ob- ed immediately before the pell-jection to this proposal because of tion was filed. The assets would the expenses that would be involved not be sufficient to pay a divi were the petition adjourned, but at the same time he felt it only fair! dend of 15 per cent, and the to his client that this should be so afidavits that had been filed dis- as she wished to carry on the bust- closed fraud on the part of the ness. In this respect, Kan was will proprietor.

Ing to pay, through her friends, the expenses to be incurred during that] month out of her own pocket and not out of the firm's assets.

Opposes Application

ts

Friday, · HONGKONG TEL EGRAPH

WARNING VOICE

June 30,

1939.

Britain Cheers Lord

Halifax's Speech

LONDON, June 30. VISCOUNT HALIFAX'S speech has been given great prominence in the London press, the speech being unanimously described as an "unmistakable expression of public opinion"..

The "Daily Horald", whose diplomatic correspondent calls the speech the "gravest words of an English Minister sinca 1914", declares in an editorial that the "ora of appease- ment which should never have been inaugurated has now come to an end."

Referring to the offer of new negotiations with Germany, the paper says that offer should have been made "years ago when. Germany was still peaceful and democratic,"

The Daily Telegraph" compares Viscount Halifax with Martin Luther. *

The "Daily Express” while declaring that the paper had been opposed to a policy of British guarantees in Eastern Europe, admits that Viscount Halifax spoke on behalf of the people. The paper repeats a demand for an extension of military service.

Paris papers warmly welcome Viscount Halifax's speech. ---Trans-Occan.

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MACKINTOSH'S Indo-sen, had niso put forward a claim Britain Not Prepared To Yield, Lord Halifax Reiterates

The liabilities of the firm amounted to between $200,000 and $300,000, while the assets came to about $8,000, This was made up of $4,000 deposited by Lau with the Overseas Chinese Mr. Watson sak he opposed the Bank under the name of the Ching application because i was not actu- Loo Manufacturing Co., of which he ally known who would be the real was also the proprietor, and the re-representative of deceased mainder in goods with the China Steam Navigation Co,.

Mr. J. Stanersen, manager of the American Express, said the debtor firm was indebted to him to the amount of $35,000 on two bills of exchange, for which he held certain securities. The proprietor of the debtor Orm as far as he knew, was Lau Hoo-tsau. Two days before the Issue of the petition, he went to the debtor's office in the Shanghal Con- mercial Bank building and found it closed.

the

"WE WILL DEFEND PLEDGES"

that he was. Another reason was that his clients werd of the view that the business was at present. 66

An offer had been losing money, received for the purchase of whole of the business, which would epable the creditors to receive the full amount of the debts, but this offer was open for only one week, Therefore, if the petition were to be the offer adjourned for a manth. would be off.

His Lordship pointed out that r help her, all they should do was

Woon Tak-sung, formerly employed Kan's friends were so anxious to to pay the creditors of at once and the proceedings could then be ad-

E a correspondence clerk the debtor arm, testified thul Lau was the sole proprietor. Lau was also the proprietor of the Cheung Lo0 Manufacturing Co.

Lim Cheng-cho, sub-accountant of the overata Chinese Bank, said his

frm had an account under the name of Cheung Loo Manufacturing Co. The application for the opening of the account was signed by Lau Hoo- tsau, who described himself as the sole proprietor.

Mr. Prior said that in view of the fact that part of the assets was made up of the account in the Overseas Chinese Bank under the name of the Cheung Leo Manufacturing Co., he would like to include this firm In the petition,

His Lordship agreed, at the same granting the receiving order.

Potition By Sincere's

time

journed forever.

However, ho would adjourn the next, ns petition until Wednesday

FINAL WARNING TO REICH

LONDON, June 29.-"In the event of further aggression, we are resolved to use at once the whole of our strength in the fulfilment of our pledges to resist it," declared Viscount Halifax, speaking to-day at Chatham House to the Royal Institute of International Affairs.

Viscount Halifax continued: "We read of the mischievous misrepresen- the offer mentioned by Mr. Watson tations of our actions and our motives which people in countries holding a different international philosophy think fit to make.

would then still be, open.

Soldiers Ask For Re-hearing

An Army officer intervened at the Kowloon Magistracy this morning with an appeal to Mr. E. Himsworth, the Magistrate, to re-open the case against two British soldiers who had been previously charged with larceny of money.

A similar petition was brought

The Army Officer was Coptain H. against the Leung Sup Kee arm by the Sincere Co. (Perfumery Manu-Marsh, of the Middlesex Itegiment, who appealed for the re-hearing on facturers) Ltd.

M. B. Watson, for the peti-the grounds that the defendants were re-hearing on tioners, said the petition was sume-not appealed

the grounds that the defendants were what unusual "because there was un

not conversant with the legal position alternativo claim for the winding up

as regards giving statements on cath. in bankruptcy of the estate of Loung

Stephen defendants are Yat-tong, proprietor of the debtor Vincent Ward, 27, and Louis Rener, firm who died about 10 months 22, both of the Middlesex Regiment Following his death, the business was

They were charged with the carried on by a manager and as there larceny of $55.40 on June 17 at No.

be administration Watson) was not sure then whether 14, lung Chun Strept

Was no ne

(Mr.

to apply for the winding up of the estate or the bankruptcy of the firm However, he had since Jurned this during Leung's lifetime all the debts had been paid, and that the debts this incurred now involved were year and by the persons running the ban- business. He would therefore

don the claim for the winding up of the estate and ask for a receiving order against the firm Instead.

At one time, the widow carried on the business but subsequently the Court appointed Mr. Thomas Le C. Kuen as manager.

After. Mr. Lau Yuk-man, clerk of Messrs. Johnson, Stokes and Master, hud testifled to having served notice of the petition on Mr. Kuen, Lam Hing, salestnan employed by petitioning creditors snid

the

The

At the previous hearing they were bound over in the sum of $50 and ordered to pay compensation to the complainant Teul Sat

"We read them with resentment, knowing they are false, and knowing that they who make them know it too. These things do not pass unnoticed here, nor do provocative insults to our fellow countrymen further afield.

"I say at that: Britain is not prepared to yield either to calumnies or force,

"Every Insult offered to our people, and every ridicule made to what we value and are determined to defend, only unites us, Increases our determination and strengthens our loyalty to those others who share our feelings and aspirations..

Decency Set Aside

"Belgium and Holland, and to a unless there is also the machinery for less extent, our own islands have al- bringing about the peaceful change. "To-day, when European nations ready proved that what, is. called over-population can be prevented by are forgetful of their common civilis- productive work. Economically the ution, and are arming the teeth, it world is for too closely knit together is more important than ever before for any one country to hope to proat that we should remind ourselves of itself at the expense of its neigh-the essential unity of European elvi- bours, and no more than any other|sation. country can Germany hope to solve her economic problems in isolation. itself.

"Truly, Europe is divided against

"Our foreign policy must, therefore, constantly bear in mind the immed!- ate present and the more distant

future.

Ready To Co-operate "Over a large part of the world the old standards of conduct and ordinary "Through co-operation-and we on our part are ready to co-operate- human decency are being set aside.

foundations. One la "Things are being done which we there is ample scope for extending to an opportunity of a can hardly read of without amaze all nations ment, so allen are they to our con- larger economic life with all that this ception of how men should deal with means and which is implied in the

term Lebensraum, their fellow men.

"The rules of conduct bations are over Hidden with

between

"If the world were organised on the such lines, neither Germany nor same callous indifference as the Italy need fear for their own safety, rules of conduct between man and but no such soclety of nations can be

man

"At a time when our alms are being constantly misrepresented, "it" is well They were also charged with im- to restate them boldly and with personating police officers and plainness of speech.

"Our Brat resolve is to atop ag- assault but these charges were dis- missed, at the previous hearing.

for that reason, and that gression, and Sub-Inspector Whelan said that reason alone, we are joined with other the Police had no objection to a re-nations to meet a common danger. hearing.

Germany Will

Give Answer

that the British Memorandum

debtor fem was indebted to his em- ployers to the amount of $2,907.30.

On May 23 last, he attended a creditors meeting at the debtor firm's premises at 121 Queen's Road Central, when it was stated that the

On Naval Treaty

BERLIN, June 29. GERMANY will answer the

liabilities came to about $11,000, and British naval memorandum "in that payment had to be suspended. due courge." It was also said that the debtor firm had stocks worth about $0,000 and cash to the amount of $2,000.

Adjournmont Request

The reply will almost certainly be through diplomatic channels

of administration in respect of her political speech, husband's estate in order to carry

not be

British

"These arrangements have no other purpose than defence. They

meun what they say-nu more, and no less. But they are denounced as aiming at the isolation, or, as it is called, the encirclement of Germany and Italy, and as designed to prevent them from acquiring living space necessary for their national existence.

Isolating herself successfuils

completely, economically policy of autarely, politically by n policy that causes constant auxicty

to other nations, and culturally, by her policy of racialism.

con..

built upon force in a world which lives in fear of violence, and has to spend its substance in preparing to resist it.

"British policy rests on twin the deter- mination to resist force, the other our recognition of the world's do- stro to get on with the constructive, work of building prace.

World Held To Ransom

"But to-day the threat of milit- ary force is holding the world to rusom, and our immediato task _Es_to_resist, aggression..

"I would emphasise that with all the strength at my command, 50 that no one may misunderstand me. "And it we are ever to succeed in removing misunderstanding

and reaching a settlement which the world can trust, it must be upon basis more substantial than verbal undertakings.

"It is idle to cryi peace when there is no peace, or to pretend to reach a settlement unless it can be guaranteed by the reduction in war-like preparations, and assured by the recognition of every nation's right to the free enjoyment of lig! Some Independence,

Doctrine Of Force

Monstrous Sanders

"It has been said that deeds, not words are necessary. That is also our view. There must be give and on both

onces,"

"We know that if International law and order is to be preserved, we must be prepared to fight in Its defence.

"It is, moreover, impossible to "With every week that passes our negotiate with a government whosej re-armament effort gains momentum,

braud responsible spokesmen

and on every side of like, political,

"At this moment the doctrine of take in a practical forni foroo bars the way to settlement, sides, for there can be no firm bar- and fills tha world with envy, gains on a basis of giving something haired, malice and uncharitable-concrete in return for mere assur- "What are the facts? Germany is

nc59. antl

Earlier, Viscount Halifax had re- her

"But if the doctrine of force were by

once abandoned, so that the fear of ferred to the agreements with Po- war that stalks the world was lifted, land, Turkey, Greece and Rumania, all outstanding questions would and expressed the hope that negotia- become casier to solve, and the tions with Russia would very shortly nations would then be in a position come to a successful issue. Inevitable Consequences to discuss, with

real promise of

We Must Fight "If you deliberately isolate your success, both political grievances and self, you can blame nobody but your-economic dimeulties, whether in the

He added: "We assumed these self, and so long as this isolation con- international or colonial field. tinues, the inevitable consequences of "Whatever may be the dimculties obligations with a full understanding of their causes and consequences, them are bound to become stronger of the colonial problem, or any other, we know that if the security and and more marked,

I would not despair of finding ways as the document is largely

"The last thing we desire to see is of a settlement once everybody had independence of other countries dis- Mr. C. D'Almada, for Kan Lee-technical and is not considered an individunt man, woman and child got the will to settle. But unless all appear, our own security and our sheung, the widow, sald he had no suitable for answering in Asuffering privations, but if they do, countries do indeed desire a settle- own independence wil be gravely

threatened, the fault lies not with us. It depends ment, discussions would do only more objection to the petition, although he would like it-to be adjourned for a speech by Herr Hitler.

upon the German Government, and harm than good. Political circles are of the opinion the German Government alone, whe- month.

The reason for this was because that if Herr Hitler speaks on Saturday her this process of isolation

tinues or not, for any day it can be Kan wis desirous of obtaining letters at Bremen, it will

ended by a polley of co-operation." Sir Nevile Henderson, the

"Lebensraum" on the business. She had obtained Ambassador, is going to London for

was a week's teave on Tuesday, but Hallfax said that this polley could Referring to Lebensraum, Viscount the help of a financier who willing to pay off all the debts due answer is not expected to be ready by only be solved by the wise ordering at home, to the creditors provided she obtain then.

polloy In all parts of the world. ported by the people's will. In the meantime, political circles of affairs of the country ed the letters of administration first.

"Behind n this military effort with other countries

"But if that spirit, which is clearly Time was necessary to achieve this say that mutual inistrust has got to end by adjusting improvements in

incompatible with any desire for a atends the British people, more united abroud. purpose, and therefore he wouldn pitch where Germany cannot be its relations

and at their service, like to have the petition adjourned Revo Britain's professions of can

"Nations expanded their wealth peaceful settlement, gave way to than ever, cillation, and undil Britain alters her and saled their standard of living by something different, Ils Majesty's wealth and Industrial resources." for a month.

will not talk.c

their Government would be ready to pool) the confidence of gaining The financler was also willing to policy, Germany

their best thought with others in to the Reuter. deposit e sum equivalent

neighbors, thus facilitating the flow

Labour Speaker of goods between them. The very order to end the present state of oppostle was likely to be

Viscount Halifax was followed by the con- political and economic insecurity. sequence of the petion by one nation we could get so far, what an immense Mr. A. V. Alexander (Labour) who in the suppression the independent stride the world would have made said he thought it was a plly that the

"We should have arrested the existence of her smaller and, weaker neighbours, and if Lebensraum was the anxiety which is cramping and policy outlined by Viscount Halifax

even at Berchtesgaders. to be applied in that sense, we reject arresting business expansion, and we was not firmly pressed at Stresa, or should have brought beck an almos- It was encouraging that Ministers continued phere of confidence among the naj of the democratic countries who inst "It is noteworthy," Viscount Halifax, "that this claim tions.

September felt no moral responsi- to living space is being put for "Our next task would be the re- bility for the defence of a European ward at a moment when Germany construction of international order on country against wanton aggression, has become an immigration coun-a broader and firmer foundation."

now advocate a ponce bioe, with the iry. importing workers in large

bellef that justice, liberty and pence numbers

Civilisation Forgotton from Crecho-Slovakin,

could only be maintained if we were Holland and Italy 'to meet the Alter a reference to the League of prepared to defend International Inw needs of her Industry and agricul- Nations and the Covenant, Viscount and order. ture,*

Halifax continued: "It is not enough And on that they can rest assured to devise measures for preventing the of the soundness in heart of the com- use of force to change the status quomon people of this country-Reuter.

China Defaults

Loans

On

LONDON, June 30.

THE announcement of default on the Reorganisation Loan and the 6 per cent. 1034 Loan does not come altogether as a surprise, says the "Viunsteină Times,"

It is recognised that revenue on treatment of its creditora has been which service of these issues are exemplary in the past, has been secured hus folten Into Japanese forced to default by sheer inability thands.

to pay. It is difficult to foresee any arrangements likely to provide for Anticipation of the suspension of continued payments in view of the payments was reflected in the drop lost of the greater part of the customs in quotation of the 1913 Loan by and salt revenues to the Japanese, overálů points in the past month. and the recent exchange crisis.

The Chinese Government, whose Rester.

it.

"How then can Germany claim to be overpopulated?

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