May 9, 1903.
notes. He romdred them from time time during the B, anish- War and had them all at the termination of the war.
Can you produce bilancs-sheets of your basinnes for 1898 and every year up to the present time? -I left the matter entirely to my Chinese clerk and I do not know whether he
nade up a balance sheet each year,
Do not you make up balance sheet every year P-No; there is no need as I am the sole
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His Lordship—Until he becomes bankrupt, I suppose, and then the Official Receiver has to make up a statement.
י.
CHINA OVERLAND TRADE REPORT.
of the room. After examining the box the [notes, and $500 gold in American silver | officer did not say,
-"How did you get | This was in a box.LE. $50,000 into a box that size !" There was one ing wax with a chop, T.8.T. officer there. He simply said “ All right" after | is now lost. I took it on beard” examining the box.
lost it out of my pocket. It was with some sealing wax. took the box the ship myself. No one went with gave it to a man who I think was mate. He had a key and opened the safe.” He examined the seals of the box, and fonnd a right. I saw him lock it up in the safe, and then he gave me a receipt. I returned to the Kee Cheong office. I had all thess notes and silver in my shop for six months. I supplied goods to the American Navy, and got notes sometimes from the paymasters and some- times
silver.
Cross-examination continued-The only way he knew the position of his business was by counting his cash at the end of each year. Chan Po was his partner but he left the matter entirely in witness's discretion. When witness said be was sole owner he meant that his partner left the whole matter to his own discretion. Chan Po owned about dae-fourth of the business. Chan Po made no complaint about his method of conducting the firm. No one else had an interest in the business Witness's brother, who was a partner before his death, owed one. fourth. He had no books to show the capital in the firm to-day. He had no money deposited in banks here. He had no deposits in september of last year when he sent this money to Manila. He never had kept a banking account. He did not remember the date when he last supplied U.S. men-of-war with goods above the value of $50. He had no entries in his books; he did not make entries. It was one or two years ago so far as be remembered. He had given up the business of suppl, ing U.8. men of-war as he found it was not paying that was about two years ago. When an American man-of-war came here now he made an offer for the supply of goods but if his prices were too high of course he did not get the contract. A man called L. Charles had now the supplying of the U.8. ships here.
By the Court He had stopped supplying the American Navy when he sent this money to Manila.
N
one
Cross-examination continued-When he was paid for goods supplied to the U.S. Navy he was paid in U.S. banknotes. Some small pay ments were made in Mexicau currency. It was the practice of the US Navy up to the time he ceased to supply them to pay him in U.S. currency. Chan Po was his partner in all his business. There were no profits being divided, but whatever sum Chau Po asked for he got it. The largest sum he paid him was between $2,000 and $3,000* în year; that was during the war. Since then he had paid Chan Po not so much; about $1,600 a year. There was no entry made of money drawn by his partner. As to the profits ho had made of recent years, he had to buy goods and send them away. Chan Po was a shareholder and could get what money he asked for. He had not had more than $1,000 for the last four or five years, but he could have had more if be asked for it. His profits on his transactions to the extent of $130,000 gold with the U.S. Navy were very considerable. There were no books showing what became of the profits. These profits were spent in buying goods.
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By the Court-He could produce books show ing money paid out for goods received.
Cross-examination resumed-He was not iu debt now; he had plenty of money.
some
the
Do you deny that the officer a kod you how you managed to get $50,000 into a box that side P-Yes. He handed the shipping order to the officer, and told him that it was a box of banknotes. The officer said "Are you going to present this to me?" and he replied, “Sign | your name and then I will present it." (Langhter.) Only one officer went down to the strong-room with him. He did not enter in the shipping order the fact that the box con- tained $500 in silver as well as notes because he had to pay the same rate of freight. When he packed $19,500 U.8. motes into the box he had some notes left, of the value of over $100. He had no silver dollars left in the safe. The U.S. notes he had left over he took back to his family house the following day and gave them to his wife; ke did not know whether or no she had the notes still. He had not asked her about the notes. When he saw Mr. Hastings and Mr, Foug Wa Chua on 17th September he told Mr. Hastings that he had no American notes, but the statement was not correct.
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The Courtadjourned from one till two o'clock, Cross-examination continued-On the mor- ning of 12th September he packed up this box; the packing was done on the first floor. Ha had kept notes in a safe on the first floor in the room where the packing was done. The manager was not there when he took the notes "out of the safe; he askel the manager to come up and the latter counted the notes and packed them in the box He asked the foki to get
All
box newspapers to
up. He could not say whether or not the foki saw the notes. When he got to the Zafiro the sampaa man carried up the box, There was a covering over the sealing wax, and he told the sampan man to be careful of the seals. He did not carry the box by the cloth, but put one hand underneath and the other or the top. When they got down to the strong. room the box was pat în but he did not look into the room. He saw one of the officers examining the seals That was outside the door
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Why did you tell him that lie P-Because they told lies first; thy sed Mr. Hastings was a shipping clerk and he knew he was a solicitor. He knew Mr. Hastings well. When Fung Wa Chun told him Mr. Hastings was a clerk he did not say anything but "kept it in his heart." Fnog Wa Chun told him this in Chinese. He did not tell them that he knew Mr. Hastings, because they were not telling the truth. Mr. Hastings did not himself say he was shipping clerk. Had Fung Wa Chun told him at first that Mr. Hastings was a lawyer, witpes would have told them the truth, The money sent to Manila was required in con- nection with a contract which had been under negotiation to supply rice and clothing, and was in the nature of a security; as a fact, the contract was not given to witness's firm. The reason he did not wait to make sure he bad got the contract before sending the money was that the money was necessary when tendering for the contract. Some of the notes were kept in an iron safe and some in his family house. In the safe was $38,000 and in the family house $12,000. He had the $50,000 in his possession from the com- meucement of the Spanish-American war until it was sent to Manila; he began to g ther the notes when the war started, and by July, 1901, he had more than $50,000 gold in his pos- session, When the war forminated he had $50,030 left, and $12,000 was kept in his private house. On or about 11th September last he transferrod this mouey to his place of business; there was no special insurance iu respect of the money, although the shop and house were protected in the ordinary manner. His wife knew that the money was in the safe and so did Puu Chek San. The notes in the house were in his wife's charge, and she kept them in an iron box at the head of the bed in her cubicle. The numbers of the notes were not taken, I am not so careful as all that," witness added. "I don't believe anybody would have taken the trouble to note the numbers, no matter how much time they had." The reason he did not put the money in the bank and get interest on it was because the price of gold was increasing every day and he kept it just as he might so much jewelry.
His Lordship-What is the bank-rate ? Mr. Morgan Phillips-Į am told that some Chinese banks pay from 16 to 32 per cent.
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Mr. Slade-My Lord, my friend, in making his enticing statement about interent, does not say the percentage of bunkruptcies amongst these banke.
Mr. Morgan Phillips (to witness) - On 16th September Mr. Hastings and Mr. Fang Wa Chan came to your shop, and you made a statement to Mr. Hastings which was taken down in writing as you uttered it ?.
Witness—Yes.
7
Mr. Mogan Phillips-As you made that state- ment in English you will understand it if I read it out in English :-
"I am the manager of the Man Loong compradore's shop. Last Friday I shippe! to Manila by the Zafiro 1,500 $20 noter, United Stat a currency, 1,500 310 notes, 900 $5
was from the Uni'ed eintes, oflo ra. This
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fiime
changing for Hongkong I had kept the money all th -six months-in a safe on the first do of my shop. I have not got any similar notes now-all gone. I cannot give the num. bers of th notes; I did not get any numbers. I was sending this money to Manila to deposit with the Government. It was security money for a Government contract to supply provisions to the army in the Phillipines. They wanted American money to secure. I produce credit and debit book for the ́ Yüm-yan・year. containing an entry with regard to these notes. It is the only entry in the book. It is on the 11th leaf. I have no other entry in and other book with regard to this matter, I ons helped me. packed the box myself; no I did this on the first floor. None of my fokis helped me I did not wish them to know about it. Nobody knew I had these poles in ny safe; none of my fokis knew. I never told anybody at all I had these notes in my safe. The parcel was addressed to the Kwong Looog, Manils. I am the master of that shop. Tam Shui Tin is in charge; he han no share, but he gets a bonus. I only started the Kwong Loong shop in the first moon this year. I have no entry in my books as to the time at which I received any of the notes. No man ver saw these notes except myself from the time I put them into the safe six months ago patil 1 put them on board the steamer,"
Mr. Morgan Phillips-That is the statement you made to Mr. Hastings and Mr. Fang Wa Chuo?
Witness-Yes.
Mr. Morgan Phillips-It is falso that you lost the chop?
Witness-Yes.
Mr. Morgan (reading)—" I took it on board "that is the ship and lost it out of my pocket false ?
Witness-Yes.
Mr. Morgan Phillips-" I took it on board.
--that the ship myself; no one went with me is false?
Witness--Yes.
Mr. Morgan Phillips- I gave it to who I think was the chief mate ”—is that trus ?
Wituess-Yes, that is true.
Mr. Morgan Phillips-" He had a key and opened the safe. He examined the seals of the box and found all right I saw him look it up in the safe. He then gave me a receipt, and I returned to the Ked Cheong office" is that true?
Witness-That is true,
- these. Mr. Mo gan Phillips-" I have had notes and silver in my possession for six months"-you had them there, as a matter of fact, for some years?
Witness-Yes.
Mr. Morgan Phillips-"I supplied goods to the American Navy and got these notes some times from the paymasters and sometimes from the United States officers "—is that true ?
Witness-Yes.
Mr. Morgan Phillips-" I bis was in changing for Hongkong silver. I have kept the money all the time in a safe on the first floor of my shop"-that is false P✨
Witness-Yes, false.
Mr. Morgan Phillips-"I cannot give the numbers of these notes."
Witness-That is true.
falso
Mr. Morgan Phillips-You seem to bays made one false statement, a true one one, and so on. “I packed the box mysell. No one helped me. None of my fokis helped that is false?
Witness-Yes, false,
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