}
186
THE HONGKONG WEEKLY PRESS AND
CORRESPONDENCE. lafendants had not paid the same or any part he defendants on the 120,000 francs. but
A POINT OF RACING.
TO THE EDITOR OF THE DAILY PRESS." Hongkong. 28th February. A stranger to Hongkong. I went down to the races yesterday an I baskel Captain Ganut's mount. Museidet for the steeplechase. After jumping the sod-wall the second time the far n- rite came inside everything and with Muscatel cantered up the straight. It was obvious neither jockey was in a hurry; one knew he'd gope the wrong course, and the ther that he was winning in a cantor. I watched the horses
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unsaddling, and then went to collect my win- uings, when I was told that
We only pay first past the post," ¿e, they were paying over a horse that had not been the prescribed course
How far does this rule extend in Hongkong Because next time it would be worth while to start a pony in a 2-mile race, only sond him one, and win in a canter; he would be first past the post."
I have raced a good deal in many parts of the wrld and never seen a fiasco of this description. In Australia the judge hoists the numbers as they pass him, and as they come back to weigh a red flag is hoisted outside the weighing room and kept up until the clerk of the sedles calls Right" for the third horse, when it is hauled down, and then, and not till then, is money paid over. Might I suggest that rule fo the I.K.J C.?
Apologising for troubling yon-my excuse is I am many dollars out over that and the saddle cloth incident in the next race. - - Yours, sadly.
A. PUNTER.
SUPREME COURT.
Monday. 2 th February,
IN SUMMARY JURISDICTION.
BEFORE HIS HONOUR A G. WISE (PUISNE JUDGE).
CHAN A FOOK e. W. NERVEGNA, A case was called in which Chan A Fook and another sued W. Nervegna andļanother for the recovery of $606, interest on 120,000 franes alleged by the defendants to have been trans- ferred to them y E. Ghis, Italian D legate on the International Commission of Bankers. Shanghai, at the request of the defendants. Mr. M. W. Slade, birrister-at-law (instructed by Mr. F. X. d'Almada & Castro, solicitor), appeared for the plaintiffs, and Hop, H. E. Pollock, K.C.. barrister-at-law instructed by Mr. F Paget Hett, solicitor, of Mr G. K. Hall
Brutton's office, was for the defendants
of it.
[March 7, 1904.
father's shares in the Po Chang business for Fung ultimately sold to Chai Tuk Hi hig
$2,400. This transfer Was made with the consent of the partners of the firm and with the sanction of Chui Wong Shi, the widowi Chui Tuk Hi paid to Chui Kwok Fung $200 in cash, and took upon himself the liability for the debt of $2.201 An agreement was made between hui Kwok Fung and Chui Tuk H. on April 14, 1892, under which Chui Tuk Hi received a one ninth share in the Po Chang firm oa payment of $2,400. After the transfer of the share, Chui Tak Hi received over Taels 48 in connection with the share, and afterwards received various payments in goods and money, which were debited against the share. Further hearing was adjourned.
Defendants in their statement of defence said it was agreed between the plaintiffs and the defendants that Action No. 911 of 1903 'should be withdrawn by the plaintiffs upon condition of the plaintiffs receivin a document from the Italian Government Delegata at Shanghai which would entitle the plaintiffs to eventually receive bonds to the full salna of 120,000 frines, when bonds should be thereafter issued by the Italian Government for the payment of the indemnity. If the guid delegate had in fact issued any document to the plaintiffs which conferred or purported to confer or had the legal effect of conferring upon the plaintiffs any present or immediate right to interest on the said sum of 120,000 francs, such document was not issued in such form at the request of the defendants, but on the contrary was issued in snch form in defiance of the express instructions upon the subject which were sent by the defendants to the delegate, to which instructions they craved leave to refer. They denied that any apporto shareholders at the seventeenth ordinary Itionment whatever ought to be made in favour annual meeting, to be held at the Company's
of the plaintiffs in respect of interest on the
Offices, No. 2. Connaught Road, on the 10th sum of 120,000 francs, either for the whole
March, at 12.15 p.m. period or for any portion «"the period b-tween 1st January, 196, and 30th June, 1902, Even if any apportionment were made, defend ›nts did not admit that it would amount to the sum of 8606
i
1
Plaintiffs in their statement of cla'm stated | that they were merchants. Defendants wer· Italian subjects who form rly e rried on business under the style of W. Nervegna & Co, and now resided in Hongkong. In November, 1902, plaintiffs commenced
an action en of 1902) against the defendants in the Original Jurisdiction of the Supreme Court. In 1901 defendants had awarded to them large
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suin to be
&
HONGKONG AND KOWLOON
WHARF AND GODOWN
CO. LI.,
The following is the report for presentation
The Dire ors have now to submit to sharehol- ders their report with a statement of accounts for the year ended 31st December, 1943.
ACCOUNTS
AS
The gross revenue derived from wharfage, Mr. Stade, in opening plaintiffs' case, produced ; landing. &c., amounted to $-93,176,80 the document transferring the sum of 120,000 | against $823310,13 the previous year, showing franes to them and submitted that that document transferred the right to the interest as well as the working
au increase of $69,866,67, and the profit on
was $349 386 31 right to the principal as from the date. It was
as compared with $270,146 85 in 1902, being an increase of. exactly the same as a transfer of shares; no $79 245.46. reference to the interest pavable on the shares. even when it was a fixed rate was made in th transfer; when the share were transferred the transferee obtained his interest on them as from the date of the transfer.
Evidence was afterwards taken and the case was adjourned till to-day-
Tuesday] 1st March.
BEFORE HIS Hoyore A. G. WISE (PUISSE JUDGE).
CHAN A FOOK . W. NERVEGNA. This case was again called on Tuesday, when after hearing further evidence, His Lordship held that the transfer by the defendants to the plaintiffs of the principal carried with it also the right to the interest, and he accordingly gave judgment for plaintiffs and costs.
The Court adjourned.
Wednesday, 2nd March,
BEFORE HIS HONOUR SIR WILLIAM M. GOODMAN (CHIEF JUSTICE.
CHIU CHAN SI . TANG FAI WOON. In this case Chin Chan Si, executrix of the estate of Chiu Tuk Hi, deceased, suèd Tang Fai Woon for oue-ninth share in the Po. Cbang firm, 127, Jervois Street.
Hon. H.. Pollock, K. C. (instructed by Mr. paid by the Chinese Government by C. E. Bearis, of Messrs Wilkinson And way of indemnity for losses sustained Grist). appeared for the plaintiff, and Mr. M. by the defendants during the Boxer rebellion. | W. Slade, (instructed by Mr. 1. This indemnity awarded to the defendants Messrs. Johnston, Stokes and Master), reprs-
Piper of was payable to them by the Italian Government sented the defendant. Delegate at the Commission of Bankers in Shanghai and until payment bare interest of 4 per cent. per annum, payable half-yearly. On 30 h May, 19 3, plantiffs accepted transfer made on 13th April, 193 at the request of the defendants by the said Italian Government Delegate of 120,000 francs out of the indemnity due to the defendant as aforesaid in full satis action of all claims by them against the defendants and withdrew this action. On or about ist July, 1903, the Italian Government Delegate paid to the defendants the interest due on the indemnity for the half-year ending 34th June, 1903. The ratable proportion of the interest received by the defendants in respect of the 120,000 francs transferred as aforesaid to the plaintiffs amounted to $606 28 th July, 1903, plaintiffs demanded from lefendants payment of the interest received by
|
"
Mr. Pollock explained that the matter in disoute was as to whether the executrix of Chui Tuk Hi. or the defendant was entitled to a one-ninth share in the Po Chang firm. The share originally belonged to a
man named ('hui Tuk Hing, brother of the deceased Chni Tuk Hi, and was on of the original partners of the firm, which started twenty or thirty years, ago. Chui Tuk Hing died somewhere about 1890 or 1891, leaving behind him his wi | Chui Wong Shi, and
Fung, who was about 28 years of age,
son, Chui Awak At the time of his death Chui Tuk Hing was indebted to the Po Chang firm in the sum of S,200. After his death the pirtuers in the Pa Chaug firm were anxious that the debt shoald be paid off, and they pressed Chui Kwok Fung. who, as the only son, they regar-ed as standing in his shoes, for the money. Chai Kwok
n
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The balance at credit of profit and loss ecount, after paying interim dividend of 5 per cent, and including $14 481.69 brought forward from last year, is S$215,065 41, which it
prope sed to appropriate as follows:- Directors and auditors' fees...8 10,500,00 Final dividend of 5
is
per cent...
75,000,00
Trausfer to depreciation and
repairs ace unt Write off wharves
35,000.00
20,000.09
Railways and rolling
stock
7.444.24
launches
6,500.00
lighters
16,442.74
16,762.75
28,015,68
$215,665.41
་་
machinery and plant
Carry forward to new accon t...
BUSINESS.
Au increasing demand his existed for godown accommodation at Kowloon
BUILDINGS.
The addition to No. 2 godowy, referred to in last report, has been completed, and a coutract has been si,ned for raising No. 3 godown.
WHARVES.
No additions have been made during the year. Part of the West Point wharf is being removed, and the construction of new piers under consideration
LIGHTERS.
J
Que cargo boat and three Äum-sing boats have been built during the year.
DIRECTORS,
having resigned, their places were taken respec- Messrs. D. M. Moses and G. H. Medhurst
tively by Mr. Ed. Shellim and Mr. E. S. Whealler These appointments require con- firmation.
Mr. H. Schubart and Mr. C. H. Thompson retire in rotation, according to the Articles of Association, but b ingligible offer themselves for re-el ction.
AUDITORS.
Messrs W. H. Potts and A. O'D. Goardin have audited the accounts now presentel and offer themselves for re-election.
Tho accounts are as follows:-
BALANCE-SHEET. 31st-December, 1902. Dr.
LIABILITIES. To capital (30.0 0 shares at 850 fully paid
u}}} To debentures outstanding To Laud Investment Co.-: To reserve fand
---
— mortgage
To Hongkong and Shanghai Banking Cor-
poration
$
1,500,000,00
500, 00.00
20 1,000.00 250,00.00
467,770.43
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