Shanghai Bank, Vindivostok, wrote to Grodetsky telling him that ths letter of credit expired on Soptomber 30 and warning him that surance must be effected with frst dus company at Viadivostock, Grodetsky writes back on the sam)
to them saying he will have pay forest dues, will the bane tell the Forest Department that on Grodetsky presenting the bill. of nding the bank will advance tha money on the letter of credit for payment of forest dues. On September 9 the branch bank write by Forest Department enclosing Gro-det sky Letter and stating they are prepared to do as he requires, It hax been pleaded that—the Hongkong & Shanghai Bank acted ax agents for Mackenzie & Ca. agreeing to pay the forest dues.
But throughout the whole proceedings I cannot find that there is any evidence on which to suggest that by implication the Viadivostock Branch of the Hongkong anghai Bank were the agente of Mackenzie & Ca, Except in this instance they were a mere conduit pine for the instructions from the Hongkong & Shanghai Bank, Shanghai, for the instructions which they in their turn shad received front Mackenzie & Ca.
Tu every ease of the extension of the letter of credit, Muekenzie Ca. in the first place gave instruetions to the Hongkong & Shanghai Bank, Shanghai, to forward instruetions to Viadivostock Branch. the above isolated instance the, acted on their own sponsibility as Mackenzie & Ca, Knew nothing about the payment of
Text read from the printed page and cleaned; old type leaves the occasional error.