He denied that he paid to the plaintiff $26,000 or any sum or that, ¥.|he promised that -he would account)
for the balance. He never received any money or property of the Shanghai Chinese Coal Produce Stock Exchange Ca, Ld., and no other person received any such money or property on his behalf in! his capacity as liquidator.
The Exchange Boom Mr, Brown said it was claimed that the liquidation was carried out in a highly improper manner. Proper accounts were not kept and payments said to have been made, in fact were not made. In 1921 and 1922 there was a great boom in Shanghai in exchanges and in a rear many cases foreign protection twas secured for them, as it was thought it would help in their working. Very few of them survived for Jong, they came to an early end and the money subscribed was wasted. This was a typical case. Plaintiff was the chief promoter of this exchange and no other shareholders} were making any claims. Apparent. ly they were content, after losing their money, to get out of it s0 cheaply. The matter was not made easier by. the fact that at. the! Spanish Consulate now there appeared to be left no records of the Tquidation, nor even of the registration.
The Judge—How ig it there are ug records?
Air. Brown—I cannot say, but you may hear something in. evidence One oF two scattered documents are existence, but. the official. fle apparently has disappeared. That ig my information from the Spanish Consulate, but who is responsible for that I do hot know, Counsel continued that, was found impossible to get registration, of the original company in Peking for reasons into which it was not necessary to go, and after casting about for a time the promoters ded to get a company with a name registered in the Consulate. Mr. Kentwell also suggested that plaintiff himself should be registered as a Spanish protege and that was done.
Mr. Kentwell—I object to that.
Text read from the printed page and cleaned; old type leaves the occasional error.