'A decision of importance to the commercial and banking community was given by Judge Milton D. Purdy' in the United States Court for China, on July 16, in the case of the Bank of China, Bank of Communications, Exchange Bank of China, China & South Seas Bank, Agricul tural & Industrial Bank of China, Chinese American Bank of Com: merce, Chung Yuan Industrial Bunk, National Commercial Bank Ltd.
Bank of Agriculture & Commerce, Banque Franco-Chinoise, and Shih Fu-sheng, (plaintiffs) against R. 7 dant).
Judge Purdy's decision which is of great length, follows in part:—The plaintiffs in this case are banking institutions of Chinese} sheng who is Chinese citizen hold-ithe position of compradore Lo th Kastern Bank of Harbin at]
China. The defendant is an American citizen who by deed, 927, was appointed] assignee of of the America Inc., a company]
imited liability registered the laws of the State of Delaware. As such assignee, the defendant assumed charge of the godowns of the warehouse company, and of such merchandise as was held in storage by said company as a warehouseman. The plaintiffs are sever. ally holders of godown warrants, or warehouse receipts, issued by the warehouse company, which collectively call for the delivery of 996,500] bags of flour of various brands.
lid warrants, or godown receipts, have been submitted to the defendant and recognized by him as having been duly issued to the holders thereof by the American Overseas Warehouse Ca. Warrant] favour of the Bank of attached to and made a part of the complaint for the pur. pose of showing the form of the several warrants held with the plaintiffs herein, and as the usual form of warrant issued by the warehouse company.
Text read from the printed page and cleaned; old type leaves the occasional error.