This was a claim for Tis, 2,429.38, balance dae upon " promissory note for Tls. 11,250.
Mr. J.0.E. Douglas appeared for plaints; defendant was represented by Mr. Loftos Jones.
Mr. Douglas asked for jadgement, the writ having been filed ander Role 100.
Mr. Jones said tht his client hed filed an affidavit This affidavit set out that defendant as purchased pine Langkate from be deli Godfrey appeared for the plaintiff defendants wore represented by Mr. 'A. 8. Wilson.
Mr, Jones said that this case mainly involved a question of law. Most of the facts were agreed. The plaintiff were @rners of a balk called the Gores hich had been anchored or moored for considerable namber of years off the Bund foreshore. She was s fixture without any means of propulsion, used solely for the storage, in bond, of opiam, The plaiotiffe customarily carried large amount of insurance with Lloyd's'at homefbat from time to time, en the stock on the balk exoseded each on the Sey September 27 an agreement was entered into between plaintiffs and defendant whereby they agreed to carry the above mentioned shares until March Settling Part of said agreement was that defendant shoald give a promissory note for Tls 11,250 and allow the scrip for ssid shares to remain with plaintiffs as security for payment. The promiscory note was only part of the! ara it made for carrying over th res, and it was agreed that claim or demand should be made on the promissory note, or the security for] payment of same realized before March Settling Day.
Mr. Jones said that a partner of the plaintiff firm had also filed an affidavit, vith the promissory note attached. On the other side of this note it would be seen that this promissory note was part, of an agreement for the deposit of certain shares. The amount now claimed was the balance remaining dae the sale of the shares. Plaintit affidavit alleged that defendant was' given notice of the intention to sell. When defendant received that notice he Mr. Douglas said that the agreement alleged in defendant's affidavit was, he understood, an oral agreement. If that were £0 the affidavit disclosed no defence at all. the value of this insurance they insured lly, and it was on one arose, The Corea, which was a ooppersheathed sessd, sprang " leak one night and water got in and damaged " certain, quantity of opium, Salvage work was undertaken, and certain expenses were incurred. Subsequently the salved opiam was disposed of and the loss in respect to the damage by water and the expenses were definitely ascertained by an Average Adjuster, Mr. Wadi Mr, <fones pat in Mr, 0 statements as formal proof, for purposes of record. The average sdjostment statement was not completed and delivered until year after the damage, and considerable negotiations had followed. The policy took the form of risk note, " document used locally more than in London, or other platen here policies had to be stamped. The note was endorsed to cover risk of fire alter the goods had been brought ashore stored. Counsel also put in the Lioyd's policy for £80,000 covering the rest of the opium. The extended form of defendant's policy set out the various riska covered by the risk note, Severs! companies bad insured plaintiffs cargo, by risk' notes, from time to time. Counsel put in a form of defendants' extended __policy, which contemplated voyage at sea. The ricks covered were those of the Mr. Jones said that all that it was necessary for him to do was to pat on ordinary marine insurance rick.
At this stage the evidence of Mr. record that there was something for W.
Jackson was interposed. Wit-decision.
His Lordship ordered the defence to be filed this week and set down the cage for trial on Friday week. ness ssid that he was in charge of the Yangteze"Insarance Ca., in Shanghai.
had resided here fortwenty- years. He was familist with risk notes, They
Text read from the printed page and cleaned; old type leaves the occasional error.