Judge M.D. Purdy last Friday! rendered a very lengthy" judgment in favour of the plaintiff in the action of the Harbin Electric Joint}
'Stocks Cb, Ltd v. the National City Bank' of New York, wherein the former asked the Court to order] the Bank to pay them two amounts, 113225,741.52, with interest, and H.$230,441.22, with interest, monies which they alleged that they had paid into the Bank, but upon which the Beckman & Linden Engineering Ca, had the right of countersignature on cheques. The total amount of the judgment was H.$476,812.24.
It will be recalled that. plaintiff had engaged Messrs. Beckman Linden to contract their tram lin and the latter in order to cover themselves in the: purchases of material and expenditures for Jahour, insisting on the right of] countersignature on cheques. Later building operations were suspended.
Mr, S, Moss appeared for plainti the Bank was represented by Mr. C, 8, Franklin, The noted his intention to appeal.
Fudge Purdy, in summarizing. the findings of fact, said that the mat: ter resolved itself into two ques. tions of law, 1. whether the plain-{ff could maintain the frst cause of action without Joining Messre. Beckman & Linden, who held the ight of countersignature as party plaintiff, in their suit against the Bank (the latter had refused to Join)
ind 2, whether the plaintiff the second cause of action could maintain his position in face letter to the defendant bank, ving the "irrevocable authority" to) pay out only when the cheques wore ligned by plaintiff and the representative of Messrs, Beckman Linden.
Further in the judgment, ° the Judge raised the point of "the authority of the plaintiff to withdraw or cancel its directions to the Bank to pay out the moneys, as against this deposit, only upon cheques signed by the Engineering Corporation or its representative, Beardsley, together with its own signature." His Honour, after citing authorities, held that" these were "voluntary" instructions to the Bank and could be cancelled, and gave judgment for the amounts claimed, plus interest at six per cent. from June 25, 1927, date, amounting in all to
Text read from the printed page and cleaned; old type leaves the occasional error.