Mackenaie & Ca. that the Vludivortock Branch in consequence of this ultimatum had asked for permis to missive the guarantee asked One of the plaintiff parties: then came and saw Mackenzie & Ca. sith regard to the guarantee Mr. Bo: taid he would ive instructions. the bank to issue the scuarantee andi he says the plainti! frm scerne ex tremely relieved and said it ould ow 0 through all right On November 18 Tongkonye Bani fgnuo their guarantee asked for by Soviet Forest Department and Grofetsky forwards it to Forest De, partment on November 19.
But on November 21 the Soviet Department write and calmly say that Phe terms (which were their own suggestion), "are not_acceptable" And on November 21 Grodetails the whole cargo of timber to a Japanese firm named Suzuki Theb¢ ave the leading facts in this case, ithas been rather difficult to condense them from the mass, of evidence atta correspondence "that hag been placed before me.
fail to see how it can be suggested that the defendants have in any-moore than they were bound to do according to the toms of the contract they had entered into.
The defendante greed to finance er at most, part purchase, a cargo cof timber I'say "part purchase" because it must be remembered that one Rowe was to pay Y¥.40,000 towards the purchase.. He neve> seems to have been asked for this amount nor has he paid it.
By this agreement they were to open a letter of credit for Y.148,- 000 in favour of Grodetcky, nothing said in the agreement about the terms of the letter of credit, neither time nor revocability are mentioned. And [am of opinion that the date fixed, ris. September 20, was agreed upon between Mackenzie & Ca. and Rodfeld.
The contract was ¢i.f. Shanghai, Mackenzie & Ca. to have no responsibility as regards shipment, Ianding charges, import duty ete. ete.
Their whole duty was to pay over to Grodetsky on presentation of his draft, bill of lading and full shipping documents to the Vladivostok Hongkong Bank, the amount for which the letter of credit was issued.
The contract between Grodetsky and Ginsburg of the plaintiffs firm was to exist for two months and then be liable to be cancelled.
From September 9 to November 6 the money would have been forthcoming on the letter of credit on ne presentation of the necessary shipping documents,
Text read from the printed page and cleaned; old type leaves the occasional error.