122
NATIONAL BANK OF ( HINA, LD.
The following is the report of the Directors to the eleventh ordinary annual general meeting of shareholders to be held at the Offices of the Bank, Victoria Buildings, Hongkong, on Saturday, 1st March, at Loon:
Gentlemen, The Directors have now the pleasure to submit to you the accounts and balance sheet for the year ending 31st Decem- ber, 1901.
The gross profits, including $9,002.58 brought forward from last year are $255.486.43, which, after deducting all charges and allowing for bad and doubtful debts, leaves a net profit of
$149,196,55.
This the Directors propose to deal with as follows:-To pay a dividend of $1.86 per share (in London 3/Î4) absorbing 867,961.04, to place $60,000 to reserve and to carry forward
THE HONGKONG WEEKLY PRESS AND
SUPREME COURT.
Thursday, 6th February,
IN ORIGINAL JURISD CTION.
[February 15, 1902.
Before His HONOUR A. G. WISE (ACTING evidence before me is that there is no entry in
CHIEF JUSTICE).
two
MOK KWAN SHEK . THE FOO KAT CHEONG. His Lordship delivered judgment as follows: -In this case the plaintiff claims $1,236 as to $1.150 for money deposited in sums of $500 and 3650 and as to $86, being the price of two tins of biscuit received by the defendant firm on behalf of the plaintiff. The defendant firm deny that these two sums were deposited or that they received the price of the biscuits, aul state that such transactions (if any) were private transactions between the plaintiff and one Mao Tai, a former accountant of the defendant firm who died on May 28th, 1900. The defendant firm, admit that a sum of $3 0 was deposited by the plaintiff as a sort of cover for goods supplied to customers introduc- The accounts at the Head Office have beened by the plaintiff, but they state that this was audited by Messrs. J. H. Cox and R C. Wilcox and in London by Messrs. Deloitte. Dever, Griffiths and Co, Chartered Accountants.
Your obedient servant,
$21,235.51.
Mr. J. Lauts retires in rotation from the Head Office Board and Mr. Buttery from the London Committee and being eligible for re- election offer themselves accordingly.
J. LAUTS, Chairman, Hongkong, 1st February, 1902.
The accounts are as follows:-
BALANCE-SHEET, 31st December, 1901. LIABILITIES.
Capital, 750 fully paid founder's
shares of £1 each (laid down in the East at exchange of 3s, Capital, partly paid, £323.621 (laid down in the East at ex change of 3s.)
Capital reserve fund..
Reserve fund
Notes in eirculation
C.
$ 5,000,00
2,157, 193.32 191,973.33 65.593.35
Fixed deposits and current accounts Loans payable
Bills for collection and branch balances..: Drafts, acceptances and endorsements
(bills re-discounted) Exchange adjustments less interestacerned Balance of profit and loss account
ABSETS.
Cash on hand and at bankera Government securities belonging to the
bank
Bills receivable, loans and advances Bills for collection receivable and branch
balances Furniture...
$
G.
He
all repaid and that actually the plaintiff is indebted to them in some small sum not exceed- ing $50. I have thought it better to give a written judgment, not on account of the importance of the case, but because the evidence was very voluminous and the exhibts very numerous; and I thought I could better con- dense ou paper than try to carry it all in my head. In support of his claim the plaintiff produces a receipt (exhibit 1) and two letters (exhibits 2 and 7) all attached to folio 10 on the file. The defendant firm dispute exhibit 1 and admit exhibits 2 and 7. but tate that they refer to the said deposit of $300. The plaintiff de- nies the deposit of $300 but states that he got a friend to advance that sum, but for what purpose does not appear. It cross-examina- tion a letter (exbibit 5) -2.120,000,00
was put to 474,325.00 the plaintiff and he denied having written it. 100.453.11 but admits the envelope. This exhibit is almost 600,000.00 the most important thing in the whole case, 379,183.18 as. if it is genuine, the plaintiff's case is at an
end. He also admitted writing a letter (exhi 382,69 1,85
20,049.71 bit 8) in which four boxes of biscuits were 149,196.55 referred to, though later on in his evidence he
only refers to two boxes. He also admits hav $5,115,902.70 ing incurred expenses in the purchase of a concubine, but denies having obtained the 565,409.23 money for the purpose from Man Tai.
also denies getting specific sums of $1 292,826.82 and $1.60 from Man Tai to pay Ching 2,330,388.50 Kok Tai and Lam Wai Nam for goods 1.93278.08 supplied to plaintiff. Lam Wai Nam is, how
15,000.00 ever, afterwards called as a witness and states that plaintiff did receive $1,60 from Man Tai to $5,115,902,70 pay him for shoes. The plaintiff also denies haring offered to withdraw this action on terms, though a witness is afterwards called to speak to this offer. A man named Mak Shui (the plaintiff's friend) states that he lent 8300 to the defendant firm_but_received no receipt. On behalf of the defendant firm one Mök Man Cheung was produced as an expert in Chinese writing. His oridonce was not by any means conclusive, but was evidently given with great fairness. and was од the whole against the plaintiff. For instanco, he thinks the signatures on exhibits and S are in the same writing, though there may be some varia. tions in other characters. He also (with the same reservation) thinks that the signature to 2,002 58 exhibit 3 (admitted by the plaiutiff) is in the same writing as the signature to exhibit 5. 246,483.85 The books of the defendant firm wero on the whole well kept, and in them there is no refer- $255,496.43
ence to the alleged deposits of $500 and $650. On 1st January, 1902, our CAPITAL and RESERVE A number of witnesses were called to speak FUNDS will stand as follows : - S c. to chops in various acconut - books. Tong Capital, fully paid founder's shares
5,000.00 Ping Sai, the accountant who succeeded Man Capital, party paid ordinary sharus........ 2,157,493.32
Tai. speaks of the deposit of $30 by the plain. Capital, reserve fund..
191,973.33 Reserve fund
125,533.35 tiff and of its repayment. Fok Shik Shang, the manager of the defendant firm, was called to $2,180,000.00 | show that it was no uncommon thing for the employes to have private dealings with Man Tai, and he stated that this was the case with We note with regret the death at New York both the plaintiff and himself. He also speaks on the 27th December of an old China resident, of various payments made by Man Tai on in the person of Mr. E. M. Smith, who suc-behalf of the plaintiff. That is, roughly speak- cumbed to kidney trouble. Mr. Smith was in ing, the evidence, and it seems to me that the the early days with Messrs. Smith, Archor and plaintiff has not made out his case. The expert | Co., of which his brother was the head.
lis against him on the subject of exhibit 5, and
i
0.
60.000.00
* C. 106,289.88
PROFIT AND LOSS ACCOUNT. 31st December, 1901. Charges, directors' fees and salaries Amount to be placed to resorve
fund Dividend account, proposed pay- ment of $1.68 per share on 140,453 shares (31 per share in London at exchange of 110 5-16). ...
Talance to be carried forward
to next account
67 961.01
21.235 51
Balance brought forward from last year ... Gross carnings for year ending 31st Decem-
ber, 1901
149,196.55 $255,186.43
$
0.
¦
as I have said before that is really a very in- portant point. I have examined the chops as carefully as I can, but I do not cure to base my judgment solely on small discrepancies in the impressions. I have seen chops from the same blook show wide discrepancies, but even if it was the proper chop of the defendant firm the
the books of such deposits, which one would sup- pose there would be unless the idea of fraud bar evidence that no one except Ho Wai Bing had been conceived at the time of the deposit, and also
power to borrow money on behalf of the de- fendant firm, and that therefore Man Tai was not authorised to pledge the defendant's credit for money borrowed. There is also other evidence us to plaintiff's private dealings with Man Tai and on the balance of evidence I think the plaintiff has failed to convince me of the I therefore give judg- justice of this claim. ment for the defendant, and costs.
THE FORTHCOMING RACE MEETING.
AN IMPROVEMENT IN THE COURSE,
At the annual general meeting of the Hong. kong Jockey Club on the 5th October, one of the questions discn sed was the situation of the three-quarter-mile starting-past. As everyone who has attended the Races kuows, the start here was all on the turn, and it was just abont as bad a place for a starting-post as could be found; in fact, it was almost impossible to get a fair start there, to quote the opinion expressed some months ago by a writer in these columns. A suggestion was made that the Race Club should take in a stretch of ground parallel with the road running behind the pavilion of the Football Club, so as to give a straight start for the three-quarter-mile races. In taking in this bit of ground it was pointed out that no one's rights would be interfered with, and that all the Race Club would have to do was to level a track from the dressing-shed of the Football Club to join the course. This has now been done, and the ground made ready for the Races on the 19th inst.. so that every horse will have a chance, and the great advantage formerly secured from the inside position will be eliminated. The new starting-post will not interfere with the view of spectators. as every. thing can easily be seen from the stand. The start for the half-mile races is still "round the
corner." but it is feared that it will have to remain so. it being impossible to make a straight half-mile track such as is seen many other racecourses.
CRICKET.
H.K,C,C TEAM V. NAVAL TEAM.
On
This match. played on the 8th inst., China New Year's Day. resulted in a narrow victory for the Naval team by 3 runs on the first innings. Both the sides were weak, and a number of untried men played. A few of the Club bats appeared to advantage, but Carter wrought havoc among the tail. The Navy, in spite of a good start, looked like losing, and wanted 21 to tie when the ninth wicket fell. Then, how- ever, Tweedy and Shettle made a good stand. the latter exhibiting wonderful patience and nerve, while Tweedy attended to the scoring. The game was a tie when a lucky snick by Tweedy was misfielded in the slips and went to the boundary, amid great enthusiasm among the naval portion of the audience, which was assembled in large numbers, Shettle was bowl- ed next over. The match served its purpose as a holiday fixture.
Scores and analysis :----
H.K.C.C.
Capt. Rotherham, R.W.F., b Scott... A G. Ward, ↳ Cartor W. Dixon, b Scott
Liont. France-Hayhurst, H.W.F., c and b
Tweedie
J. Hooper, c Goldsmith, b Scott
J. A. Woodgates, b Nimmo
39
22
832 386
7
50
Licut, Venables, R.W.F., c and b Carter.. 41
J. Brown, e May, b Scott
P. W. Goldring, not ont H. M. S. Man, h Carter 8. G. Newall, b Carter.......
Extras
Total
20
2
0
"
D
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