The Archive · 1928

Accountants and Their 4 Fees

{fn a sensational hearing at the Provisional Court on Sept, 20, 'Messrs. Seth" Mancell & Me-Duro, the well-known local firm of chartered accountants, were removed by Judge Kao, with whom was sitting Mr. C.D, Meinhardt, Senior Consul's "Deputy, from' their Position as joint liquidators of the defunct Compagnie Orientale de Capitalization for their refusal obey a previous order of the Provisional Court and hand over to the treasury of the: company they ae liquidating some $15,000 collect ed by them for the liquidation ac-

The crisis of the case came when the "Senior Consul's representative charged the British accountants with "dishonesty, embezzlement, and contempt of court" with the further remark that he was "putting it The statement of Br. Tom Griffin a member of Seth, Mancell McClure was that the money had deen retained by his firm to protect itself against loss. He made strong protest against the statement of the Deputy and especially requested that his protest be officially recorded.

was shown that the $15,000 was part of a payment of $80,000 mad by Mr. 0. G. Steen following a judgment of the United States Court for China given against him some months ago in favour of the bankrupt savings society.

'A Claim for Selary 'A claim for back salary amounting to Tls. 50,000 and commissions filed by the former chief inspector of C. 0. C. branches, Mr. 0, B. Gainsborough, was the occasion of the tearing.

In giving evidence Mr. Gains borough explained his connection with the defunct organization in the capacity of general sales manager and chief inspector for the company in China, Siberia and Manchuri

Text read from the printed page and cleaned; old type leaves the occasional error.

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