Judgment was delivered on Thursday in the U. S. Court in regard to the "missing cashier" esse, in which the Yorkshire Insurance Ca.
Ld. sought to hold the American-Oriental Banking Corporation liable for the misappropriation by the former's book-keeper_and cashier of certain cheques. The cheques: came into the possession of the cashier, K. S. Chang, after being endorsed in blank by the insurance company's manager. Judge Purdy held that the receiving tellers "of the bank were free from negligence in receiving the cheques from Chang for collection, and accordingly gave judgement for the Ameri-_ can-Oriental Banking Corporation.
Chang, commented his Honour, had charge of the books and accounts of the foreign-end of the Yorkshire Insurance Company's business, but did not handle any] cash. He had been in the employ of the company in this capacity for more than ten years, and. great reliance seemed to have been placed in him. He was thus afforded every opportunity for the perpetration of the frauds which he accomplished between May 1921 and August 1922, It was apparent that if the general manager endorsed the cheques "for deposit only" the: fraud upon the plaintiffs would never have occurred.
Text read from the printed page and cleaned; old type leaves the occasional error.