Mr, Franklin submitted that the evidence showed that the letter of credit had been issued by the Chinese Savings Bank. There was no ease of fraud at all Replying to the Judge Mr, Prank: lin said there was nothing to show what had become of the assets of the C0. Ca totalling $355,000, When the receivers took over there were no records aster October 31, al the assets had disappeared with the exception of $3 which was the bank. When over the company the assets were intact.
Mr, Fessenden dealing with points and quoting several aut point whether plaints orities said that the—crucial
had succeeded in proving de. fendant guilty of fraud, and he argued Inw on the assumption that the Court did not. think so. Fraud could not be presumed but must be proved by' a preponder= of evidence and that had no! been done. Tf fraud—aetual destructive—ivere not proved, then: the ease had an entirely different aspect.
Judgment was reserved,
Text read from the printed page and cleaned; old type leaves the occasional error.