The Archive · 1931

Liquidation of Banks

\As a sequel to, the death of the late Mr. Wong Chu-chin, the well known native medical. practitioner, merchant and philanthropist, who, during his lifetime, owned a' chain of no fewer than 95 banks, phare and macies, private hospitals, amuses yor, cent, holders will be better served by ce Chinese who acted on behalf of such Further, no dividends were _de-operation between the shareholders 384,586 were still in hand and they firms, which were considered non-¢lared for the years 1927, 1928 or and the directors rather than by represented the bank's deposits and Juristic persons, should be held 3929, but the following ' amounts 0 pen friction. In justification of my were transferred: from prot and] protest atthe rvvnenelicesey Plainti. Defendants, alleged coun. [or acts committed ey and obligation: to Joint severally responsible for acts committed by and on behalf Joss account during these years to those mans this company, I sel, had issued notes in excess: of of wererve against fluctuation of submit the following their reserves and of the ie persons. Defendant, bonds therefore, was to be held liable, wish ft to be clearly understood Mr. Y, C. Woo, a director of the ai, [that t have doubted the wer [integrity Nat ihe aiceetareeT det seething can be easily disposed Eastern Trading Ca. (China), Ltd question the silty of with the possible exception of was sued by the Chang Wab Yuen: Explorations, and These additiovezenven"'wove SeMeral agent, and the. diectrg here I again hong for $48,753, alleged damages suggest you make no sale but -dis-suffered by plaintiffs through a invested in industrials, lands, pre-) cannot avoid @ certain amount of the shareholders breach of contract on defendant's ference shares ete. tri rata to of the Loan Compan any your entire lieged On December 31, 1930, find] The year under review was} holding been deposited with the the company's holdings, phenomenal. having, regard" to the te, ate continued rise of industrials and the necessity off Amo rear many Eastern Trading Ca. by the plain and Tu tiffs. The latter are alleged to have above as the Placed an order with the British firm for the supply of ten tons of eon spln|dptetta BE ation The cher pine gum "subject" to the order gen] Ba Lo aod

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

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